Former President Goodluck Jonathan refuted claims that Nigeria lost $49.8 billion during his administration, as stated in Emir Muhammadu Sanusi II's new book. He emphasized the financial stability necessary to pay salaries and questioned the accuracy of the figures presented.
Former President Goodluck Jonathan has dismissed the assertion made by Muhammadu Sanusi II, the 16th Emir of Kano, that Nigeria lost $49.8 billion during his time in office. This claim was highlighted in Sanusi’s recent book, Public Policy, and Agent Interests: Perspectives from The Emerging World, launched in Abuja.
Jonathan contested this allegation, stating that it would have been impossible for Nigeria to continue paying salaries and maintaining operations if such a significant amount had indeed been lost. He clarified that Sanusi’s departure from the Central Bank of Nigeria (CBN) was due to suspension, not a whistleblower incident regarding financial losses.
During the book launch, Jonathan expressed that the Financial Reporting Council lacked sufficient time to investigate the claims thoroughly before Sanusi’s term ended. He pointed out the confusion surrounding the figures associated with the alleged loss, which initially stood at $49.8 billion, then decreased to $20 billion, and later to $12 billion.
The former president mentioned that forensic audits have not substantiated the massive loss. The reports suggested that only $1.48 billion was unaccounted for, and he indicated that this amount should be returned to the federation account by the Nigerian National Petroleum Corporation (NNPC). Ultimately, Jonathan asserted that, based on existing evidence, he remains skeptical about the claim of such a vast loss during his administration.
