The Central Bank of Nigeria (CBN)
says N150 billion which was reported as stolen from its coffers was part of a
N650 billion loan to states.
The audiotape of a conversation
between Godwin Emefiele, the CBN governor; Adamu Lamatek, the deputy governor
of the bank, and other top officials of the bank was leaked on Sunday.
The men could be heard having a
conversation about how to reconcile the apex bank’s balance sheet.
In a statement released by the
bank on Sunday, the CBN said: “As publicly known the CBN was approached in 2015
by the National Economic Management Team and the National Economic Council
(NEC), chaired by the Vice President, to assist State Governments with
Conditional Budget Support, in the aftermath of the significant nose-dive in
global oil prices and associated FAAC allocations.
In closing the Bank’s 2018
accounts, external auditors in their Draft Account erroneously classified about
N150 billion of these loans as bad, which negatively affected the Bank’s
Balance Sheet and shareholders fund.”
The apex bank said it resolved
the matter by approaching the ministry of finance.
“Obviously, it soon became clear that
a State Government loan cannot be classified as “bad” or “irrecoverable” when
the State still exists and getting FAAC allocations.
“The Bank then reached out to the
Federal Ministry of Finance and they jointly gave comfort to the auditors who
accepted in writing that these monies would be repaid.
“On this basis, the auditors
reversed the negative entry and the certified that the CBN’s 2018 accounts were
a true reflection of the State of Affairs.”
The apex bank said it would
ensure that the perpetrators to justice.
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