CBN Confirms Leaked Audio Conversation Involving Emefiele, Adamu, Others

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Download CBN Governor audio conversation

The Central Bank of Nigeria on Sunday has admitted the audio revealed by Sahara Reporters as regards the conversation that transpired among , , and .

The audio conversation busted the executives while they were discussing how to cover up N500 billion Naira which they had invested in a private business in Dubai that did not work out as expected.

The CBN has confirmed the conversations in the audio is auntentic through a press statement on Sunday signed by Issac Okorafor, director corporate communications which stated that In the closing of 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 selective conversation being circulated was simply a discussion to ascertain why the auditors took that position and next steps to resolving it. 

Contary to claims by the CBN that N150 billion was a classification error by auditors as “bad loans”

If you listen to the audio well you hear the part part where Emefiele is clearly heard saying 

“i am not too happy that Arowosegbe led us like this, in fact, that was what i was asking, i said we have an impression that we had 500 billion, he said no…where are we going to find this? Now we are in a very bad situation. The implication for the economy is a no, no, no” he lamented.


Olumide Anifowose

A graduate of Anthropology, University of Cape Coast.

Olumide Anifowose
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