Video: JP Morgan statement on $3.7billion is misleading

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.