A group, Yoruba Youth Democratic Movement (YYDM), has condemned what it called blackmail by some people who are against the re-appointment of the governor of the Central Bank of Nigeria (CBN), Dr. Godwin Emefiele.

A statement on Monday jointly signed by the National Coordinator, Prince Akinwunmi Oyewole, and the Secretary of YYDM, Chief Mrs. Kemi Kolade, said the sudden emergence of an audio tape on purported misappropriation of funds by Emefiele was done in bad faith.

Oyewole said the audio tape came in bad taste, as the efforts of the CBN governor and his management team to pull Nigeria through from economic is still a testimony that negates the allegation in the tape.

The group wonders why such tape would be released when President Muhammadu Buhari had just re-appointed Emefiele as the governor of CBN for the next five years.

According to the statement, “Nigerians must learn to appreciate good efforts of individuals like the governor of CBN, as this pull-him-down syndrome has become the bane of good work. It must be jettisoned, if the country is to move forward.”

The group maintained that President Muhammadu Buhari had silenced detractors with the tenure extension of Emefiele, in view of his giant strides which are evident in the economic growth of Nigeria.

“We have listened to the audio tape and can actually state that the conversation had nothing to do with anything fraudulent as purported.

“Nigerians should disregard the antics of these enemies of progress who always believe that they must destroy or discredit credible activities of government once things don’t go their ways.

“But we want to assure the management of CBN that Nigerians are behind them, and should not be distracted by few that never seek the good of the nation,” the statement said.

It would be recalled that the Director, Corporate Communications of the Central Bank of Nigeria (CBN), Mr Isaac Okoroafor, had on Sunday issued a statement, saying that no money was missing or stolen from the bank’s coffers as reported in some section of the media.

Okoroafor, while reacting to a recent article and audio clips in which the CBN Governor and other senior officials were heard discussing discrepancies in the bank’s accounts, said that the audio was distorted in a manner which creates a different impression of the matter being discussed, which was to proffer solutions to a misunderstanding that affected the Bank’s balance sheet.

“As publicly known, the CBN was approached in 2015 by the National Economic Management Team and the National Economic Council chaired by the Vice President, to assist State Governments with Conditional Budget Support.

“This happened in the aftermath of the significant nose-dive in global oil prices and associated FAAC allocations.

“In order to ensure that ordinary Nigerian workers got their salaries, pensions and gratuities and that the economy continued to recover from the recession, the Bank provided about N650 billion in loans at 9 per cent with a two-year grace period to 35 States of the Federation.

“These monies were distributed to the states monthly with documented approval of the Federal Ministry of Finance and the Presidency.

“In closing the Bank’s 2018 accounts, external auditors in their Draft Account erroneously classified about N150 billion of these loans as bad, which negatively affected the Bank’s Balance Sheet and shareholders fund.

“The selective conversation being circulated was simply a discussion to ascertain why the auditors took that position and next steps to resolve it.

“Obviously, it soon became clear that a state government loan cannot be classified as “bad” or “irrecoverable” when the State still exists and getting FAAC allocations.

“The bank then reached out to the Federal Ministry of Finance and they jointly gave comfort to the auditors who accepted in writing that these monies would be repaid.

“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,” he said.

Okoroafor urged Nigerians to disregard the audio and continue to trust that the Bank is doing everything it could to represent their interests in the best possible way.

“Under the leadership of Governor Emefiele, the CBN has always stood for, and vigorously pursued transparency in its stewardship of public resources and policies.

“The integrity of the CBN governor remains unassailable. He has no account in Dubai or anywhere in the world and would never convert the funds of CBN for personal use. Not in the past, not now and not ever.

“The use of selective wiretapped conversations of the bank’s management, to malign his character and integrity will never stand.”

“The bank will pursue every legal means to bring the perpetrators to justice,” Okoroafor assured.

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