Former President Goodluck Jonathan has refuted claims made by former Central Bank Governor, Sanusi Lamido Sanusi, now the Emir of Kano, that he was sacked for exposing an alleged disappearance of $49.8bn from government funds.
Jonathan, speaking on Thursday during the launch of the book “Public Policy and Agents Interests: Perspectives from the Emerging World” in Abuja, insisted that no such money ever went missing.
Sanusi, who raised the issue in 2013, had claimed in the book that his suspension from the Central Bank was politically motivated after he revealed discrepancies in oil revenue remittances, initially alleging $49.8bn had not been accounted for. However, after discussions with the finance ministry, the figure was later revised to $20bn and then to $12bn.
Jonathan denied the accusation, explaining that Sanusi was suspended, not sacked, due to financial infractions flagged by the Financial Reporting Council.
He also noted that the figures provided by Sanusi were inconsistent, undermining the credibility of the whistleblower’s claim.
The former President elaborated on how the government of the time, with a national budget of around $31.6bn, could not have lost $49bn without a noticeable impact, such as unpaid salaries or other financial disruptions.
He also shared an anecdote about a conversation with former German Chancellor Angela Merkel, who had raised concerns over such a large sum disappearing unnoticed from a struggling economy.
Jonathan’s remarks came as he recommended the book co-authored by former Minister of Finance, Shamsudeen Usman, but disagreed with Sanusi’s narrative about the missing funds.
He stressed that further research was needed to fully understand the situation, stating that the allegations were fabricated by the CBN under Sanusi’s leadership.
