Former Guinea central bank governor Dr. Louncény Nabé appeared before the Chamber of Judgment of the Court for the Repression of Economic and Financial Infractions (CRIEF) on November 4, 2026. He faces allegations of embezzlement of public funds, illicit enrichment, and corruption. Nabé, who led the Central Bank of the Republic of Guinea (BCRG) from 2010 to September 5, 2021, testified that he was not guilty of the charges.
During the hearing, Nabé addressed the issue of 3 tonnes and 135 kilograms of gold at the center of the case. He claimed that the gold was legally transferred to Affinor, a BCRG partner, as part of a monetization operation to convert raw gold into monetary gold convertible to foreign currency. Nabé stated that Affinor holds the gold and denied any personal involvement or wrongdoing.
Nabé described his compensation package at the central bank, stating that he earned approximately 30 million Guinean francs per month. His salary was supplemented by certain bonuses, particularly those paid during holidays. This information was part of his testimony to provide context about his financial situation during his tenure.
The former governor also discussed his assets, including two bank accounts: one at the BCRG, opened in 1993, and a savings account at BICIGUI, opened in the 1990s. He listed several properties, such as a house in Entag acquired in 1994, another in Matam acquired in 2001, and a family house in his village. Additionally, he mentioned owning multiple plots of land in Sonfonia, Kiroty, Manéah, and Kagbélen.
Nabé expressed his frustration over the allegations, stating that it hurts him that people believe he diverted the three tonnes of gold. He noted that there was a legal battle between Guinea and Affinor over the gold, which Guinea won, further supporting his claim that there was no diversion.
The case against Nabé involves serious allegations of financial misconduct during his time as governor of the BCRG. His testimony and defense aim to clarify his role and actions regarding the gold and his financial situation. The court's decision will depend on the evaluation of the evidence presented.
The trial of Louncény Nabé is a significant event in Guinea, drawing attention to governance and accountability within the country's financial institutions. The outcome will have implications for the management of public funds and the integrity of financial operations at the central bank.
Key points
- Former Guinea central bank governor Louncény Nabé denies diverting 3 tonnes of gold.
- Nabé testifies that the gold was part of a legal monetization operation with Affinor.
- The case against Nabé involves allegations of embezzlement, illicit enrichment, and corruption during his tenure at the BCRG.
