The Director of Monetary Policy at the Central Bank of Nigeria, Dr. Hassan Mahmud, has raised concerns about the numbers released by international companies, referring to them as ‘funny.’
He believes these figures are disseminated for various purposes, such as misleading the public and inflating market sentiments.
As the Central Bank unveils its financial statements annually, he emphasized the dynamic nature of reserves, which can’t be simply marked to market in a single day to determine the net balance, especially with outstanding liabilities in the mix.
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Credit: MONEYLINE WITH NANCY | AIT
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It is certain that independent third party report or opinion will be much more accepted by any concern individual or organisation so, CBN cannot just expect us to believe them despite so many unclean steps that the APEX bank had been taken for so many years. How many years of Financial Reports were hidden/ unreleased before their pushed out due to pressure. This alone showed you have so many skeletal issues.
The JP Morgan report was compiled by 3 staff of the company in which 2 are Nigerian born – their names were at the foot of the Report.
The CBN hands are not clean.
Except that JP Morgan, a creditor to the CBN, is NOT an “independent third party”!