Former President Goodluck Jonathan denied claims that he sacked the Emir of Kano, Muhammad Sanusi, as Governor of the Central Bank of Nigeria for alleging that $49.8 billion went missing from the country’s coffers.
Instead, Jonathan stated that Sanusi was suspended due to the Financial Reporting Council’s query into CBN’s expenditure and because his tenure had elapsed.
An international audit firm was brought in to investigate the CBN, revealing that no funds were missing as Sanusi had claimed.
Jonathan made these remarks during the launch of the book ‘Public Policy and Agents Interests: Perspectives from the Emerging World’, co-authored by former Minister of Finance, Shamshudeen Usman, who had served as Minister of Planning during Jonathan’s administration.
According to Jonathan: “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 $49.8 billion 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.”
