Amid an investigation, CBN discloses its seven-year consolidated statements

The Consolidated Financial Statements for the last seven years have been made public by the Central Bank of Nigeria amid a probe by the administration of President Bola Ahmed Tinubu.

For the first time since 2015, the apex bank just published the Consolidated Financial Statements on its website.

As a result, the CBN reported a profit after tax of N103.8 billion at the end of December 2022, an increase over the N75.13 billion reported in 2021.

Additionally, as of December 2022, the CBN owes JP Morgan and Goldman Sachs a combined $7.5 billion.

“The Group pledged its holdings in foreign assets in exchange for cash under a securities lending deal it entered into with Goldman Sachs and J. P. Morgan. The statement partially reads, “The cash received from Goldman Sachs is N0.23tn ($500m), 2021; N0.22tn ($500m), and JP Morgan is N3.23tn ($7bn); N3.05tn ($7bn) is acknowledged in other foreign securities.

OBASANJO NEWS24 cites Tinubu’s appointment of Jim Obazee as a special investigator to look into CBN and its other businesses after Godwin Emefiele was fired.