Nigeria’s Central Bank owed JP Morgan and Goldman Sachs a combined total of $7.5 billion as of the fiscal year that concluded in December 2022.

Another $6.3 billion in foreign currency futures that it owns is also counted as one of its liabilities.

This is supported by the audited financial statement of the apex bank.

The apex however stated it owes Goldman Sachs $500 million and JP Morgan $ 7 billion in what it classified as securities lending.

“The Group entered into a securities lending agreement with Goldman Sachs and J. P. Morgan and as part of the agreement, the Group pledged its holdings on foreign securities in return for cash.

“The cash received from Goldman Sachs is N0.23 trillion ($500 million), 2021: N0.22 trillion ($500 million), and JP Morgan N3.23 trillion ($7 billion), 2021: N3.05 trillion ($7 billion) is recognized in other foreign securities.”