CBN borrowed $13.8 Billion from U.S Banks (JP Morgan & Goldman Sachs). Emefiele “secretly” used Nigeria’s Foreign Reserve as Collateral. They printed N32 Trillion in Ways & Means as well.
This is pure sabotage on Nigeria’s Naira & the Economy.
Do you realize the magnitude of this Economic Sabotage? Your Foreign Reserve was $33 billion in July 2023. Debit $13.8 billion from this CBN managed asset.
What do you have left? If you pay off the debt, Nigeria will be left with less than $20 billion for a 200 million population.
A quick breakdown of the Debt:
$7 billion to JP Morgan Chase, & $500 million to Goldman Sachs under a “Classified Securities Lending.” $6.3 billion exposure to Foreign Currency Forwards.
“Foreign Currency Forwards” are CBN’s obligations to foreign investors.
CBN under Emefiele sank Nigeria back into humongous debt. Nigeria’s Total Debt Profile was N77 Trillion. Add the “secret” $13.8 billion & tell me the number?
WHERE ARE THESE MONIES? CAN BUHARI BE SAID TO BE OBLIVIOUS OF ALL THESE TRANSACTIONS?
I just imagine if an opposition party had won the 2023 elections maybe heads will be rolling by now.
