CBN releases consolidated statements of seven years amid probe

Amid an investigation by President Bola Ahmed Tinubu’s government, the Central Bank of Nigeria has released the Consolidated Financial Statements for the last seven years.

The apex bank recently released the Consolidated Financial Statements on its website for the first time since 2015.

Accordingly, at the end of December 2022, the CBN declared a profit after tax of N103.8 billion, an increase from the N75.13 billion reported in 2021.

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

“The Group entered into a securities lending agreement with Goldman Sachs and J. P. Morgan, and as part of the agreement, the Group pledged its holdings on foreign securities in return for cash. The cash received from Goldman Sachs is N0.23tn ($500m), 2021; N0.22tn ($500m), and JP Morgan N3.23tn ($7bn), 2021; N3.05tn ($7bn) is recognised in other foreign securities,” the statement partly reads.

DAILY POST recalls that Tinubu appointed a special investigator, Jim Obazee, to probe CBN and its other businesses following the removal of Godwin Emefiele.