By Ayo Ayodele
Former President Goodluck Jonathan has denied allegations made by the 16th Emir of Kano, Muhammadu Sanusi II, about a supposed $49.8 billion missing during his administration.
Speaking on Thursday in Abuja at the launch of Sanusi’s book, “Public Policy and Agent Interests: Perspectives from The Emerging World,” Jonathan addressed the claims, asserting that Nigeria would have faced severe challenges in paying salaries if such a significant amount had truly gone missing.
Sanusi, in his book, suggested that alleged financial mismanagement negatively impacted Nigeria’s economy. However, Jonathan clarified that Sanusi was not removed as Governor of the Central Bank of Nigeria (CBN) for whistleblowing but was instead suspended.
“I need to address why I disagree with him,” Jonathan stated. “He claimed he was dismissed for reporting that the federal government lost $49.8 billion, which is inaccurate. He was suspended, not sacked.”
Jonathan pointed out inconsistencies in the figures cited, noting that the initial claim of $49.8 billion was later revised to $20 billion, and then $12 billion. He emphasized that a forensic audit found no evidence to support the notion of a $50 billion loss.
While the audit did identify a $1.48 billion shortfall, which the Nigerian National Petroleum Corporation (NNPC) Limited was instructed to rectify, Jonathan insisted that the larger amounts were never substantiated.