Former President Goodluck Jonathan has refuted claims made by the 16th Emir of Kano, Muhammadu Sanusi II, regarding a $49.8 billion loss during his administration.
Jonathan’s remarks came during the launch of Sanusi’s new book, “Public Policy and Agent Interests: Perspectives from The Emerging World,” held in Abuja on Thursday.
Jonathan emphasized that Nigeria could not have lost such a substantial sum and still managed to meet its payroll obligations. He expressed his disagreement with Sanusi’s assertion that he was dismissed for revealing the alleged loss, clarifying that Sanusi was actually suspended.
“The Financial Reporting Council of CBN was unable to investigate the claims due to time constraints, as Sanusi’s tenure ended before the inquiry could be concluded. I remain unconvinced that the federal government lost $49.8 billion,” Jonathan stated.
He pointed out inconsistencies in the figures presented over time, noting that the initial claim of $49.8 billion had fluctuated to figures of $20 billion and then $12 billion. Jonathan remarked that a forensic audit revealed only $1.48 billion lacking proper accounting, which he suggested should be paid by the Nigerian National Petroleum Corporation (NNPC) to the federation account.
