National Bureau of Statistics boss Kale hints that Nigeria's financial reports are being 'falsified'

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– In the heat of Nigeria’s economic recession, various financial reports have been churned out with some giving hope that the country is bouncing back to normal

– But Dr Yemi Kale, the Statistician-General of the Federation (SGF), may have thought otherwise with his recent reaction to one of such reports

The Statistician-General of the Federation (SGF) and chief executive officer of the Nigerian National Bureau of Statistics, Dr Yemi Kale, has hinted that financial reports in Nigeria are mostly falsified.

Kale said this in reaction to a recent statement by the Central Bank of Nigeria (CBN) that its manufacturing and non-manufacturing report showed an increase in all the indices measured in the month of May.

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Channels Television had reported that the CBN claimed the manufacturing activity measured by Purchasing Managers’ Index was reported higher at 52.5 reading, posting a second consecutive month increase adding that 10 of the 16 sub-sectors surveyed grew in the month under review.

Emefiele’s CBN had claimed in a recent report that the manufacturing sector was bouncing back

Seeming like he was mocking the report, Kale tweted: “Here we go and let the games begin. CBN vs FBN capital..The weakness of PMI that depends on opinions not real data depends on who you speak to.”

The apex bank had claimed its report showed that the production level was higher at 58.7 points while new orders rose to 50.5 and employment level index was at 50.7.

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It said this indicates growth in new jobs after 26 consecutive months of contraction.

However, the media report proved that the CBN’s manufacturing data contrasted with the report by investment and securities firm, FBNQuest, which showed that PMI during the month was down to 54.0 against 58.9 level in April.

According to FBNQuest’s report, four, out of the five sub-indices measured in the report declined in the month that ended recently.

ZENITHBLOG.com reported recently that the Nigerian Deposit Money Banks (DMB) lost a whooping sum of N2.19 billion to fraudsters in 2016, according to a report presented by the Central Bank of Nigeria.

This report was given by the CBN governor, Mr Godwin Emefiele, who presented the Nigeria Electronic Fraud Forum Annual Report during the NEFF stakeholders’ workshop on cybercrime.

The report stated that 19,531 fraud cases were reported for the DMBs in 2016 as against 10,743 in 2015.

It stated that although there was an 82 per cent increase in reported fraud cases as compared to 2015; the banking sector witnessed marginal reduction in the value of attempted frauds and actual losses.

Watch this video and see who Nigerians think could win their votes between Governor Ayodele Fayose and President Muhammadu Buhari:

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