Nigeria’s Central Bank, whose former governor is in jail, doubled profits – Bright Simons

Amidst calls for the removal of the governor of Ghana’s Central Bank, Dr. Ernest Addison, Vice President of IMANI-Africa, Bright Simons, has opened a conversation on Nigeria’s Central Bank Governor, who is currently in jail, over overseeing certain transactions that did not go according to the country’s monetary dictates.

In a post on August 18, the IMANI Veep stated in conjunction with a copy of the consolidated and separate statement of profit or loss for 2022 for Nigeria’s Central Bank, he stated that the country recorded profits in 2022 till date.

He wrote: “Nigeria's much-lambasted Central Bank, whose former governor is still in jail awaiting trial, for a raft of allegations, doubled operating profits from the previous financial year to the latest.”

Nigeria’s Central bank governor, Emefiele, who is currently in jail was accused of terrorism financing and economic crimes.

He was removed from his role shortly after President Tinubu took office and ordered an investigation.

Ghana’s Central bank, on the other hand, recorded a loss of GH¢60.8 billion in 2022 due to the domestic debt exchange programme.

The opposition in parliament has since the release of the bank’s 2022 financial statement given the governor a 21-day ultimatum to resign.

Even though some analysts believe the call is misplaced, others have stated their support for it.

The NDC has also threatened to “occupy” the Bank of Ghana if the governor fails to resign by the end of the 21 days.

SSD/NOQ

Nigeria's much lambasted Central Bank, whose former governor is still in jail awaiting trial, for a raft of allegations, doubled operating profits from the previous financial year to the latest. pic.twitter.com/NZRspyJipd

— Bright Simons (@BBSimons) August 18, 2023

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