EXPOSED: Full Transcript Of Authentic Audio Conversation Between CBN’s Gov. Emefiele And Top Officials Covering Up N500bn They Stole Pt1

This is the first part transcript of authentic audio conversations obtained exclusively by SaharaReporters and confirmed by the central bank of Nigeria featuring of governor of the apex bank, Godwin Emefiele, deputy governor, Edward Lametek Adamu, Director of Finance, Dayo M. Arowosegbe and special adviser to the CBN governor, Emmanuel Ukeje.

The transcript details a frantic effort by Mr. Emefiele to find the money to restore to the bank before it becomes obvious to shareholders and the government.

Phone Rings

Lady: Sorry Sir.

Man: Yeah.

Lady: It’s the network sir.

Man: Ahh …my God. Let me talk to Arowosegbe.

Lady: Hold on the line sir.

Arowosegbe: Hello sir!

Governor: Yeah… So, can we think of anywhere across both ends where we can, you know, push things or either move things from CAD or other places, bring it back, you understand? or delay, anything.

Arowosegbe: I’m looking at it, the maximum that I can negotiate is N20 billion on TIA because that’s the one we’ve not paid that we’ve approved for So… because I’m with the account that’s the…(voice fades)

Governor: Oh, the cash…deal?

Arowosegbe: Yes sir.

Governor: Okay.

Arowosegbe: That’s 18 because there’s an 18 for and then there’s this 2 billion which is for something to be done for the EFCC. Like I said, they’ve taken it as ….  So, that’s the maximum we can get from expenses.

Governor: Any other vote head you can find? I have gone through all the vote heads no material at least my personal expenses just increase by over 1billion in the past one year and I think we can’t go into that so.

Governor: Now, what’s our shareholders hold? (pause) It’s 34.

Governor: Ehnn? 34 Billion…three four, thirty-four.

Governor: You can see, It’ll take …that’s another problem, wow!

Arowosegbe: Sir, try with the DG and Ukeji as well.


Man: Let me call the DG

Governor: Hello.

Edward: Hello sir.

Governor: I didn’t know you were there with Ukeji.

Edward: No, I’m here, we’re here.

Governor: *Takes Deep Breathe* Enn…

Edward: We’re packing our… bonus. We were thinking of all available options.

Man: Option of 34 billion but if we put this number there it will change our shareholders’ form to negative which is dangerous.

Edward: Yes, yes. We can’t do that one that will be dangerous, Hmmn!

Governor: What do we do?

Edward: …can we get the finance ministry to take some off? Even if it’s just for the record?

Governor: How can they take it now? Take what now precisely?

Edward: Even if it’s just to do some book work.

Governor: That will expose us to them.

Edward: That’s the only way.

Governor: Okay, what do we want finance to do in this case?

Edward: Well, the thought was that, we do some discussion with them, If they can just write saying the government will but it hasn’t maybe appropriate or something.

Governor: They can’t try that because national assembly and government, they have to go to the federal executive council to do that. 

Edward: They have to go to Federal executive council, wow! 

Governor: Ahhh… damned!

Edward: I even said we should look at the ratio but there’s pretty much nothing we can do here …I don’t have an intervention, that’ll not work and we can’t afford negative… (inaudible) 

Governor: Enn?

Edward: We cannot afford deficit governor, no way!

Governor: How do we get out of this is the issue …because the auditors themselves will be very careful because they have people who redo their account.

Edward: Exactly, they also have their names and their own governance process might not allow them to do some of these things.
Hold on for Ukeji sir.

Ukeji: Governor sir.

Governor: Yeah. I’ve been thinking of all the options because the omo asset which is the box …the money has been paid and bank has recognized that amount in their income and naturally the auditors were also asked for confirmation to confirm. Because initially we had about 150 billion which was what was paid in December then the initial thought was to look at the heavy edge that bought into that but we also realize that they had their end of the year in December  so they would have recognized that and I was just asking Mr Arowosegbe about our S-Rate gain, the rate they used for this year is said to be already 354 which is already very high.

Governor: Hmmn!

Ukeji: Yes, because if not we would have increased that closure maybe by just 1 naira or 2 naira that will change the whole thing.
Governor: The first time in history…negative shareholder.

Ukeji:, no. We thought about that because we were looking at how much the revenue is because the issue with it is we made so much revenue and we spent everything, where did we get the money that we were spending…It’s not going to work, not at this time. We’re still looking…if we’re able to see about 20 billion they still have to discuss with the. So, after 20 billion how much will be left? (pause) 120 hundred and ten, that’s still a lot because we still need a minimum of hundred and fifteen now for this to move 

Governor: Ahh…God! Let’s take this on Governor we’ll get back to you. Okay

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