CBN borrowed $13.8 Billion from U.S Banks (JP Morgan & Goldman Sachs). Bubari & Emefiele “secretly” used Nigeria’s Foreign Reserve as Collateral.

 

CBN borrowed $13.8 Billion from U.S Banks (JP Morgan & Goldman Sachs). Bubari & Emefiele “secretly” used Nigeria’s Foreign Reserve as Collateral. They printed N32 Trillion in Ways & Means as well.

Both men sabotaged Nigeria’s Sovereignty, they wrecked the Naira & your 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.

Obasanjo grew your Foreign Reserve from $5.4 billion in 1999, to $51.3 billion by 2007. He cleared your Foreign debts as well.

Buhari has sank Nigeria back into humongous debt. Nigeria’s Total Debt Profile was N77 Trillion. Add the “secret” $13.8 billion & tell me the number?