Guinea trial: Lounceny Nabé places 3.135 tonnes of gold with Affinor
By the AFREEQUE newsroom, based on Mosaiqueguinee
Former governor of Guinea’s central bank Lounceny Nabé told his trial that the 3.135 tonnes of gold at issue were held by Affinor. He disputes charges of embezzlement of public funds, illicit enrichment and corruption before the CRIEF, Mosaiqueguinee reports.
At the opening of his trial before the CRIEF trial chamber, former governor of the Central Bank of the Republic of Guinea (BCRG) Lounceny Nabé said that the 3.135 tonnes of gold at the centre of the proceedings were held by Affinor, a company with which he said he had no business connection. He estimated their value at $180 million at the time, Mosaiqueguinee reports.
Lounceny Nabé, who is being prosecuted for alleged embezzlement of public funds, illicit enrichment and corruption, acknowledged that the BCRG had concluded at least two contracts with Affinor during his term. The first was signed in 2015 and both contracts were awarded through restricted tendering, a procedure he considered compliant with the law and the bank’s internal manual, although he could not cite the relevant provision, according to Mosaiqueguinee.
In court, the former governor also said he earned 30 million Guinean francs per month and had less than 100 million francs in his BCRG account when he left in December 2021. He mentioned a savings account containing 32 million Guinean francs at BICIGUI, as well as several properties in Matam, Entag, Sonfonia and Kiroti.
The trial is part of a series of proceedings brought by the CRIEF, the Guinean court responsible for trying economic offences. It comes two days after the hearing at which Ahmed Sékou Traoré contested the alleged embezzlement of 32 billion Guinean francs, on 2 November 2026.
