CBN Governor Emefiele meets Buhari amidst leaked audio scandal

President Muhamadu Buhari and Godwin Emefiele
President Muhamadu Buhari and Godwin Emefiele [Photo: Leadership]

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Monday met with President Muhammadu Buhari at the Presidential Villa, Abuja.

The meeting occurs amidst a leaked audio scandal wherein the bank chief was heard discussing with his colleagues about a business deal gone bad.

It is not clear if the audio leak was the crux of the meeting the president had with Mr Emefiele. Neither Mr Emefiele nor the presidency has provided details of the meeting.

The CBN on Sunday scrambled a rebuttal to deny the report that it lost over N500 billion in private investment.

Sahara Reporters had reported a conversation involving the CBN Governor, Godwin Emefiele; his deputy, Edward Adamu; the Director of Finance, Dayo Arowosegbe; and the Special Adviser to the CBN Governor, Emmanuel Ukeje.

The online medium said the discussion of the top CBN officials was about a plot to cover up the huge loss after a private investment in Dubai, United Arab Emirates, went bad.

But, the bank in a statement by its spokesperson, Isaac Okorafor, denied any money was either stolen or missing from is vaults.

It admitted the audio was authentic but said they were “selective conversations.”

Mr Okorafor said contrary to insinuations that the audio recording of selective conversations by Mr Emefiele and the officials was about a fraudulent transaction, it was “simply to proffer solutions to a misunderstanding that affected the Bank’s balance sheet.”

According to Sahara Reporters, in the audio, Mr Emefiele was heard saying: “To avoid any serious problem is just, the government to have to agree to give us at least 100 billion cash but the government will not agree. They will kick against it.”

The officials also discussed the possible reaction of opposition politicians as well as the impact of their actions on the economy.

“I’ll have to think of a way out because we cannot afford it at all.

“The implications are just too many to even think about and damaging. We cannot allow this like this, we cannot,” Mr Emefiele was quoted as saying in the audio.


PT Mag Campaign AD

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.


TEXT AD: To advertise here . Call Willie +2347088095401...

BE THE FIRST TO KNOW! Subscribe to our newsletter

* indicates required


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application