I Didn’t Sack Sanusi Over Alleged Missing $49.8bn – Jonathan

Former President Goodluck Jonathan has categorically refuted charges that $49.8 billion was lost from government coffers during his administration, contradicting allegations made by former Central Bank Governor Sanusi Lamido Sanusi about the missing monies.

Jonathan addressed the topic on Thursday, September 26, at the launch of the book “Public Policy and Agents’ Interests: Perspectives from the Emerging World,” which was co-authored by former Minister of Finance Shamshudeen Usman.

Jonathan underlined that no money was missing, claiming that the charges were made up by the then-leaders of the Central Bank of Nigeria (CBN), which was led by Sanusi at the time. He recalled that an internationally recognized audit company was hired to investigate the alleged stolen monies and eventually gave his government a clean bill of health.

uring the book launch, which was attended by significant figures such as the 16th Emir of Kano, Jonathan responded to Sanusi’s claims in the book that he was fired from his post at the CBN for disclosing the alleged missing cash. Jonathan noted that Sanusi was suspended, not fired, and questioned how such a big amount could go without having a discernible impact on the country’s economy.

He added that he felt vindicated when Sanusi began to shift the story from $49 billion to $20 billion, and then to $12 billion. Jonathan further stated that PricewaterhouseCoopers (PwC), which investigated the case, discovered that, while no such sum was stolen, the Nigerian National Petroleum Corporation (NNPC) could not account for $1.48 billion at the time.

He further mentioned that the then-Senate Committee on Finance, directed by Senator Ahmed Makarfi, investigated the matter and deemed the allegations false. Jonathan told out that Nigeria’s budget during his presidency was around $31 billion, and he argued that such a big sum could not be stolen without serious consequences. He told an example of a debate with former German Chancellor Angela Merkel, explaining that the magnitude of the purported loss could not have happened in a country facing economic troubles.

He said; “Let me mention that I did not agree with some issues raised by one of the contributors. But I don’t intend to join issues because he is our royal father. And he is here.

“The one he raised that he was sacked because he blew a whistle that the Federal Government lost $49.8billion is not quite correct. He was not sacked, he was suspended because the Financial Reporting Council queried the expenditure of CBN. And there were serious infractions that needed to be looked at. That was the reason. But somehow, the time was short. So before we finished, his tenure elapsed. Probably, he would have been called back.

“On the issue of $ 49.8 billion, till today, I am not convinced that the Federal Government lost $49.8 billion. And that year, our budget was $31.6 billion. So for a country that had a budget of $31.6 billion to lose about $50 billion and salaries were paid, nobody felt anything. The researchers that wrote this book need to do further research.

“And more so, when our revered royal father came up with the figures. First $49.8 billion, later $20 billion and later $12 billion. I don’t even know the correct one”.

A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.

Nnamdi Okoli