- Former President Goodluck Jonathan refuted claims of a $49.8 billion loss during his administration, emphasizing fluctuating figures and lack of evidence
- Jonathan clarified that former CBN Governor Sanusi was suspended, not sacked, and stated that forensic audits found no substantial missing funds
Former President Goodluck Jonathan has refuted claims that Nigeria lost $49.8 billion during his administration, as stated by the 16th Emir of Kano, Muhammadu Sanusi II, in his new book.
Jonathan made the clarification on Thursday during the launch of the book titled “Public Policy and Agent Interests: Perspectives from the Emerging World”, edited by former Finance Minister, Shamsuddeen Usman, in Abuja.
Jonathan expressed his disagreement with Sanusi’s claims, particularly the assertion that he was removed from office for blowing the whistle on the alleged loss of $49.8 billion by the federal government.
“It’s not correct to say he was sacked. He was suspended,” Jonathan clarified, adding that the country couldn’t lose such an enormous amount of money and still be able to pay salaries.
He further explained that the Central Bank of Nigeria (CBN) could not investigate the allegations properly due to time constraints. “Before we could finish, his tenure was already over. We may have even called him back,” Jonathan said.
The former President remained unconvinced that the government lost $49.8 billion, noting the fluctuating figures presented—first $49.8 billion, then $20 billion, and later $12 billion. “I don’t even know which one is correct,” he added.
Jonathan concluded that forensic audits revealed no concrete evidence of such a large amount being missing.
However, the audit did highlight $1.48 billion that the Nigerian National Petroleum Corporation (NNPC) was unable to fully account for, which was recommended to be paid into the federation account.