The Economic and Financial Crimes Court (CRIEF) in Guinea has ordered the appearance of four new individuals in the case involving three tons of gold worth $180 million. The gold was allegedly linked to Louncény Nabé, the former governor of the Central Bank of the Republic of Guinea (BCRG). Those summoned include Abdoulaye Yéro Baldé, the former first deputy governor of the BCRG, Daouda Diané, the former legal director of the institution, Mamady Condé, the legal representative of the company Affinor, and Karamo Kaba, the current governor of the Central Bank.
Louncény Nabé, who served as the governor of the BCRG from 2010 to September 5, 2021, was questioned by the CRIEF on November 4, 2026. He denied all allegations of "embezzlement of public funds, illicit enrichment, and complicity" related to the three tons of gold. According to Nabé, the gold was legally transferred to Affinor, a partner of the Central Bank, as part of a monetization operation to convert raw gold into monetary gold convertible into foreign currency.
During his interrogation, Nabé stated that he had no personal ties to Affinor and that the company was solely responsible for holding the gold. He expressed frustration that people suspected him of embezzling the gold, saying, "It hurts me that people think I have diverted three tons of gold." Nabé also mentioned a legal battle between Guinea and Affinor, which he believes will ultimately prove his innocence.
The CRIEF also inquired about Nabé's financial situation and assets. He disclosed that his monthly income as governor of the BCRG was approximately 30 million Guinean francs, supplemented by bonuses, including a festive bonus. He also listed several properties and land holdings, including a house in Entag acquired in 1994, another in Matam since 2001, and a family house in the village.
The case has been adjourned until November 23, 2026, to allow the court to hear from the four summoned individuals. This hearing is expected to shed more light on the circumstances surrounding the transfer and detention of the three tons of gold. The court's decision to summon additional officials suggests that the investigation is ongoing and that more details will emerge as the case unfolds.
The CRIEF's investigation into the gold scandal is part of a broader effort to combat economic and financial crimes in Guinea. The case has garnered significant attention due to the substantial value of the gold involved and the high-ranking officials implicated. As the case progresses, it is likely to have implications for the country's financial sector and governance.
The next hearing on November 23, 2026, will likely provide further insights into the case and the roles played by the summoned officials. The court's findings and any subsequent actions will be closely watched by the public and stakeholders in Guinea's economic and financial sectors.
Key points
- The CRIEF has summoned four officials, including the current and former deputy governors of the Central Bank, over three tons of gold valued at $180 million.
- Louncény Nabé, the former governor of the BCRG, has denied all allegations of wrongdoing related to the gold.
- The case has been adjourned until November 23, 2026, to allow the court to hear from the summoned individuals.
