Bank of Nigeria, CBN, yesterday, dismissed as false and misleading allegations of fraudulent transactions against its top officials with respect to a purported N150 billion bad loan in its accounts for 2018.
“In order to ensure that ordinary Nigerian workers got their salaries, pensions and gratuities, and that the economy continued to recover from recession, the bank provided about N650 billion in loans at 9% with a two-year grace period to 35 states of the Federation. “The selective conversation being circulated was simply a discussion to ascertain why the auditors took that position and next steps to resolving it.
“On this basis, the auditors reversed the negative entry and the certified that the CBN’s 2018 accounts were a true reflection of the state of affairs.
Source: Loan Digest (loandigest.net)
vanguardngr I think CBN should take SR to court. Enough of this misleading politically motivated headlines.
vanguardngr The fraud is against the management. What else would the management say in a press release?
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