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I didn’t sack Sanusi as CBN governor | $49.8bn wasn’t missing from FG coffers – Goodluck Jonathan

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Former President Goodluck Jonathan says $49.8 billion did not go missing during his administration.

 

Muhammadu Sanusi, then governor of the Central Bank of Nigeria (CBN) and current emir of Kano, had claimed that the sum could not be accounted for, in a letter dated September 25, 2013.

 

Jonathan spoke on Thursday in Abuja during the launch of a book titled: ‘Public Policy And Agent Interests: Perspectives From The Emerging World’, co-authored by Shamsuddeen Usman, ministry of finance incorporated (MOFI) board chair.

Usman served as minister of planning in the Jonathan administration.

 

Sanusi, who also contributed to the publication, restated the allegation in the book.

 

In 2013, Sanusi wrote in a letter addressed to Jonathan: “I am constrained to formally write your Excellency, documenting serious concerns of the CBN on the continuous failure of the NNPC to repatriate significant proportion of the proceeds of the crude oil shipment it made ($49.8bn), in gross violation of the law.”

 

In 2015, Sanusi also raised concerns about a certain $20 billion which the Nigerian National Petroleum Corporation (NNPC) allegedly failed to remit to the federation account.

 

In his opening remarks, Jonathan, who chaired the launch, said as much as he agreed with the concept of the book and recommends the journal for research and policy framing, he disagreed with Sanusi’s claim on the missing money.

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According to Jonathan, there was no way that amount of money would be stolen from Nigeria without immediate impact and repercussion.

 

‘SANUSI NOT SACKED’

The former president also said Sanusi was not sacked from the apex bank in 2014 but was suspended.

 

“I disagree with some of the issues, especially the one that directly relates to me,” Jonathan said.

 

“The one that he raised that he was sacked. Because, if you can wish that the federal government lost $49.8 billion… that’s 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, until today, I’m not convinced that the federal government lost $49.8 billion.”

 

CONFRONTED BY MERKEL

Jonathan also recounted how he was confronted by Angela Merkel, then German chancellor, on the issue.

 

He recalled explaining to her that such an amount could not have been stolen from a struggling economy.

 

He added that he was vindicated much later when the former CBN governor began to revise the sum from $49 billion to $20 billion and then $12 billion.

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“Let me tell you a personal experience. The African presidents and the EU presidents, we had a meeting. I think in Belgium or Moscow,” he said.

 

“And during those meetings, you have bilateral talks, and the chancellor of Germany then, Angela Merkel, requested that we should have a bilateral meeting.

 

“So, because she requested, we had to go to where she arranged for the meeting. And I went there with some of my ministers. And there were many ministers from other countries as well.

 

“Even before I sat down, she raised her hand and said, President Jonathan, we are hearing about $49.8 billion missing.

 

“I said, what is happening? What’s the use of welcoming a guest? Then I smiled and said, Madam Chancellor, of course, the economy of Germany is very strong, so if you are talking about $49.8 billion, just say $50 billion.

 

“The economy of Germany is strong, so if you lose $50 billion, you would not notice it. But if Nigeria loses $50 billion, the federal government would not be able to pay salaries.”

 

PwC FINDINGS

Jonathan added that PricewaterhouseCoopers (PwC) discovered that no such amount was stolen but that $1.48 billion could not be accounted for by the NNPC.

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He also said the then senate committee on finance, chaired by Ahmed Makarfi, investigated the issue and found the claim to be untrue.

 

“We commissioned the PwC, one of the best financial gurus, auditors and so on. I said they should do a forensic audit, but nobody can sit down and say $50 billion, because I have no idea about that one.

 

“The report they came up with was that there is $1.48 billion that they couldn’t really give a proper account of, and that NNPC should pay that money to the original account.

 

“They did not say we lost 12 billion or 20 billion or 50 billion. And Makarfi is still alive. Makarfi was the chairman of senate committee on finance, and the minute that publication came out, he said it.

 

“They directed their finance committee to investigate, and they used external professional auditors to look into it.

 

“They themselves didn’t see either 50 billion or 20 billion or 30 billion.”

 

He also said there needs to be clarity so “somebody who is reading the book will not just go with the impression that $50 billion was lost… when President Jonathan did not steal billions of dollars”.

 

Jonathan was Nigeria’s president from 2010 to 2015.

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Good morning! Nigerian Newspapers Headlines: NDC dissociates itself from 59-member presidential campaign council unveiled by Obi-Kwankwaso movement

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1. The leadership of the Nigeria Democratic Congress (NDC) has distanced itself from the 59-member presidential campaign council constituted by OK Movement, a support group for Peter Obi, presidential candidate of the party, and his running mate, Rabiu Musa Kwankwaso.

In a statement on Saturday, Cleopas Moses, NDC national chairman, said the list did not emanate from the party and should be disregarded.


2. Former Senior Special Assistant Media and Publicity to the late President Muhammadu Buhari, Mallam Garba Shehu, said yesterday that the litigation instituted against Nigeria by Sunrise Power and Transmission Company at the International Chamber of Commerce (ICC) tribunal in Paris was doomed from the outset. 
Garba, who personally attended the January 15, 2025 sitting of the tribunal in the French capital, said it was clear from day one that Sunrise and its promoter Leno Adesanya “would lose this case following the failure of all the witnesses they invited, including, of course, a beautiful lady from Senegal allegedly providing comfort to one of their government contacts.

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3. The Presidency yesterday knocked back economic proposals by the presidential candidate of the African Democratic Congress (ADC), Alhaji Atiku Abubakar. It asked him to take the proposals to Nigerians on his campaign trail rather than seeking to dictate how President Bola Tinubu should govern the country.

4. The Nigeria Hydrological Services Agency (NIHSA) has forecast a high risk of riverine flooding across 15 states between September 19 to 25.
In its national flood advisory issued on Friday, the agency said rising river levels could trigger flooding in communities located on floodplains during the seven-day period.
The affected states are Imo, Cross River, Ebonyi, Benue, Anambra, Akwa Ibom, Lagos, Rivers, Edo, Kogi, Taraba, Delta, Bayelsa, Enugu and Abia.

5. Delta State Police Command has arrested a suspect after its personnel intercepted a vehicle conveying military camouflage uniforms, boots and hats, as well as cartons of suspected Tramadol and other illicit drugs. The vehicle, a green Toyota Sienna with registration number KP 527 AAA, was intercepted by operatives of the command’s Anti-Cult Unit, Asaba, along the Onitsha-Ondo route on Friday.

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6. Police in Rivers State have begun an investigation into the killing of a father of four, Kamadioye Krama, by gunmen in Emulation community, Abua/Odual Local Government Area. The spokesperson for the State Police Command, Blessing Agabe, confirmed the incident, stating that an investigation was ongoing to apprehend the culprits and bring them to book.

7. President Bola Tinubu has said that, from October 1, commuters across Nigeria must begin to see measurable reductions in transportation fares, as he has directed all 36 states to accelerate the National Affordable CNG Transit Programme. In a statement personally signed and released on Saturday, September 19, Tinubu said the push followed his August 27 meeting with state governors.

8. The Nigeria Security and Civil Defence Corps, NSCDC, has deployed Abdulhamid Kabara as the new commandant of its Niger State Command following the deaths of 37 suspected illegal miners in custody. Kabara replaces Suberu Aniviye, who was suspended as Niger NSCDC commandant after the 37 suspects died in Minna, the state capital, on Thursday.

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9. The Northern Senators Forum on Saturday called for an immediate, transparent and independent investigation into the deaths of 37 young Nigerians in the custody of the Nigeria Security and Civil Defence Corps, NSCDC, in Minna, Niger State. It described the circumstances surrounding the occurrence as “deeply disturbing and unacceptable.”

10. The Minister of Interior, Olubunmi Tunji-Ojo, has suspended the Niger State Commandant of the Nigeria Security and Civil Defence Corps (NSCDC), Suberu Aniviye, and 20 other officers following the deaths of 37 suspected illegal miners in the Corps’ custody. The officers were suspended pending the outcome of an independent investigation into the deaths, which occurred on Thursday, September 17, 2026. The Ministry of Interior announced the development in a statement signed by Tunji-Ojo on Saturday

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Keyamo, Sunday Dare knock Atiku for addressing President Tinubu as ‘Bola’

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  The minister of aviation, Festus Keyamo, and the special adviser to President Bola Tinubu on media and public communication, Sunday Dare, have criticised former Vice-President Atiku Abubakar for referring to the President as “Bola”.

Keyamo described Atiku’s use of Tinubu’s first name as “disrespectful and discourteous”.

“The continuous reference to President Bola Ahmed Tinubu by His Excellency, ex Vice-President Atiku Abubakar in his press conference earlier today as ‘Bola’ is very disrespectful and discourteous,” he wrote on X.

He said Atiku should recognise that the office of the president deserves to be accorded dignity despite political differences.

“He should know better that no matter your differences with Mr. President, for the sake of the country, that office should be accorded all the dignity it deserves,” Keyamo said.

Keyamo also described the tone of Atiku’s remarks as reflecting “pain and bitterness”, while referring to the former vice-president’s recent comment about Tinubu’s age.

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“After all, he made the outlandish claim the other day that Mr. President is older than himself. It is therefore a contradiction that he would also refer to an ‘elder’ by his first name,” he said.

Also, Dare, in a post on X on Saturday,  reacted to Atiku’s call for Tinubu to reduce petrol and electricity costs.

Atiku had on Friday asked Tinubu to use the remaining eight months of his administration to reduce the burden of petrol and electricity costs on households, workers and businesses.

He said the removal of petrol subsidy in May 2023 had contributed to higher transportation, food, logistics and energy costs. He also warned against phasing out electricity subsidies without addressing the impact on households and businesses.

Dare described Atiku’s manner of addressing the president as “the height of insolence”, accusing the former vice-president of political desperation.

“Alhaji Atiku’s manner of addressing President Bola Tinubu as Bola is the height of insolence. It is a clear descent into the abyss of unbridled desperation and an unraveling mind,” Dare wrote.

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“To seek to lecture a sitting president with the unbridled insolence of dropping his first name, petulantly barking instructions, and dictating how governance should be run within a truncated timeline is the height of political hubris.”

Dare defended the Tinubu administration’s economic policies, saying the president was undertaking reforms to address structural problems in the economy.

Dare also questioned Atiku’s criticism of government intervention in the economy.

“Atiku’s sudden conversion to the gospel of interventionism rings hollow,” he said.

He accused Atiku of using Nigerians’ economic difficulties for political purposes ahead of the 2027 elections.

“This is a desperate strategy by a perennial seeker of power who weaponizes transient national discomforts for electoral mileage,” Dare added.

“Nigerians do not need lectures on fiscal management from a political wanderer whose decades-long pursuit of the presidency has been defined by perpetual opportunism.”

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South Africa-based Nigerian lecturer found dead at her residence

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A Nigerian lecturer at the University of Fort Hare, South Africa, Ayodele Odularu, has been found dead at her residence in Eastern Cape Province of South Africa.

According to reports, Gbadebo Odularu, the brother of the deceased, said she died on August 16 at the age of 51.

A family member, who spoke on condition of anonymity, told Punch’s Diaspora Tales that the lecturer’s death was not natural and the circumstances remained unclear to the family.

The family had asked for an investigation into her death.

In a GoFundMe statement published by Gbadebo on behalf of the family, the lecturer was described as someone who “dedicated her life to knowledge, discovery, and creating a better future for communities”.

The family said “although her journey on earth ended too soon, the impact of her life continues through the people she inspired, the knowledge she shared, and the communities she hoped to serve”.

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“Ayodele was far more than a sister. She was a cherished daughter, aunt, friend, mentor, scholar, and a source of encouragement, compassion, wisdom, and strength to everyone blessed to know her,” the statement reads.

“Her presence brought warmth into every room. She was known for her kindness, infectious laughter, generosity, resilience, and unwavering commitment to uplifting others. She had a rare ability to make people feel valued, heard, and inspired.

“Dr. Ayodele Odularu dedicated her life to knowledge, discovery, and creating a better future for communities.

“As an Independent Senior Researcher at the University of Fort Hare Community, she contributed meaningfully to academic research and the advancement of knowledge through her scholarly work.”

On Thursday, University of Fort Hare organised a memorial service in honour of the lecturer.

The lecturer died amid the violent attacks against Nigerians and other Africans in South Africa.

To date the Federal Government has 
facilitated the evacuation of 1,716 Nigerians from South Africa over Xenophobic attacks in the former apartheid country.

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