GUINEA · COURTS
Key Facts
- The country Guinea is a major West African exporter of gold and bauxite, the ore used to make aluminium.
- What happened Louncény Nabé, the former central bank governor, stood trial on Wednesday 4 November 2026.
- The charges He faces charges of embezzlement of public funds, illicit enrichment and corruption.
- The gold The case centres on more than three tonnes of gold, which he says went legally to a partner.
- The next step The court summoned the current central bank governor, a former deputy and a representative of that firm.
A former central bank governor in Guinea told a court on Wednesday 4 November 2026 that he does not recognise the charges that he stole more than three tonnes of the country’s gold. Louncény Nabé, who led the Central Bank of the Republic of Guinea (BCRG) until 2021, appeared before the Court for the Repression of Economic and Financial Offences (CRIEF).
The trial tests how Guinea handles accusations over its state gold, one of the country’s main sources of export income. Nabé attended while free on provisional release.
What Happened
Nabé told the judges that he does not recognise the facts and is in court only because he was once governor of the BCRG. He said the gold was legally transferred to Affinor, a partner of the central bank, to be turned into monetary gold that can be traded.
He added that Affinor holds the three tonnes and that he has no personal link with the firm. On his own wealth, he listed two bank accounts and property bought between 1994 and 2001.
Who the Court Called
At the hearing, the court ordered three more people to appear so that it can gather more evidence. They are Karamo Kaba, the current BCRG governor, and Abdoulaye Yéro Baldé, a former first deputy governor of the bank.
The third is Mamadi Condé, the legal representative of Affinor, a company based in Belgium. Their testimony could show where the gold went and who approved the transfer.
Why It Matters Abroad
Guinea’s mines and central bank sit at the centre of its economy, and gold and bauxite are among its biggest exports. Any question over missing bullion matters to miners and lenders who judge the country’s institutions.
The case first came to trial in April 2026 and has moved slowly since then. Wednesday’s hearing added three people the court wants to hear.
What It Means for You
If you invest in Guinea’s mining or debt through US funds, this trial is a test of institutional discipline rather than a market event. It has not changed any gold output, export rule or bond term.
Travellers and US companies in Guinea need not change plans, because the case does not affect visas, flights or mining licences. Companies that deal with state bodies should keep clear records of any transfer of assets.
What Is Not Known
The next hearing date was not announced at the time of writing. It is not known whether the gold can be traced or recovered.
The court has not ruled on any charge, and Nabé is presumed innocent. The exact value of the gold is not known.
More: Guinea news in English, every day from The Rio Times. Related: Guinea central bank defends a US$520 million bond, Guinea gold refinery opens.
Frequently Asked Questions
Who Is Louncény Nabé?
He was governor of the Central Bank of the Republic of Guinea until 2021. He now faces trial for embezzlement, illicit enrichment and corruption.
What Did He Tell the Court?
He said he does not recognise the facts and that the gold went legally to Affinor, a partner of the bank. He denies any personal link to the firm.
Who Else Must Appear in Court?
The court summoned Karamo Kaba, the current central bank governor, Abdoulaye Yéro Baldé, a former first deputy governor, and Affinor’s representative Mamadi Condé. They must appear so the court can gather more evidence.
What Is the CRIEF?
It is Guinea’s Court for the Repression of Economic and Financial Offences. It hears cases of embezzlement, corruption and illicit enrichment.
Sources: Court for the Repression of Economic and Financial Offences (CRIEF) of Guinea, hearing of 4 November 2026; Central Bank of the Republic of Guinea (BCRG).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief