For the first time in 10 years, former President, Goodluck Jonathan, and Sanusi Lamido Sanusi, had the chance to square up frontally over the $49.8 billion missing oil money for which the latter, now 16th Emir of Kano, was abruptly kicked out of office as Governor of the Central Bank of Nigeria (CBN), about one year to the expiration of his tenure.
Sanusi, had alleged that the money belonging to then Nigerian National Petroleum Corporation (NNPC), grew wings with which it flew out of the government coffers, because it was not remitted to the CBN, an allegation, which the government of the day felt it could not stomach and handed him a suspension from which he never returned from, until he was handed over the stool of the ancient Kano monarchy.
Against the backdrop of the details, which the monarch supplied as part of his contribution in a book compiled by Samsudeen Usman, former Minister of Finance and Economic Planning, where he still maintained the allegation, Jonathan, took time not only to deny that such an amount was mission, but also debunked the contention that Sanusi was sacked, as he was only suspended to enable credible investigation, but could not be recalled before his tenure expired through the effluxion of time.
At the launching of the book, titled Public Policy and Agents Interests: Perspectives from the Emerging World, the monarch, though clearly avoided open exchange, saying the occasion did not call for a debate over the matter, still subtly maintained his own line of the narrative, jokingly referring to ex-President as “my boss that constructively sacked me.”
His words: “My boss who sacked me. I was constructively dismissed. I continue to respect Jonathan and I don’t have grudges against anyone,” Emir said, as he delivered a short message at the event he presided over as Royal Father of the Day.
But insisting that no such amount was lost in his government, Jonathan told attendees at the event, one of whom was the 16th Emir of Kano, that an internationally-recognised audit firm engaged to probe the alleged missing amount, gave the administration a clean bill of health, Jonathan also recounted how he was confronted by then President of Germany, Angela Merkel, over the matter and that he explained that such money couldn’t have been stolen from a struggling country.
He said: ““Let me mention that I did not agree with some issues raised by one of the contributors. I need to say why I did not quite agree with him. But I don’t intend to join issues because he is our royal father. And he is here. All that he wrote was on some of the issues, especially the one that is related to me. The one he raised was that he was sacked because he blew the whistle that the federal government lost $49.8 billion. It’s not quite correct. It was not that he was sacked. He was suspended.
“He was not sacked. He was suspended because the Financial Reporting Council queried the expenditure of CBN. And there were serious infractions that needed to be looked at. That was the reason. But somehow, the time was short. So, before we finished, his tenure elapsed. Probably, he would have been called back. On the issue of $ 49.8 billion, till today, I am not convinced that the Federal Government lost $49.8 billion.
“And that year, our budget was $31.6 billion. So, for a country that had a budget of $31.6 billion to lose about $50 billion and salaries were paid; nobody felt anything. The researchers that wrote this book need to do further research. And more so, when our revered royal father came up with the figures – first, $49.8 billion, later $20 billion and later $12 billion – I don’t even know the correct one.
“I was vindicated about the claim after he began to change the narrative from $49bn to $20bn and later $12bn. Price Water Coopers, PWC, which investigated the matter, revealed that no such amount was stolen. However, $1.48 billion could not be accounted for by the Nigerian National Petroleum Corporation, NNPC, (now NNPCL) at the time.”
But the monarch who could have used his time to speak on the matter, when he was handed the chance, clearly avoided dwelling on it, saying the time was not auspicious, the occasion was only a book launch and not debate, stressing: “When I was told to make a speech, I told Shamsuddeen Usman that I will not speak about my intervention, out of respect for my boss, the President.”
“I feel most inappropriate for this to turn into a debate. It’s not about me or the President, it’s really about Dr. Shamsuddeen Usman today and his book. I always knew my chapter will be controversial when Dr. Usman asked me to write. I said, this topic is so similar to my book. You’re making me begin to reveal some of the things that are in my head. In other words, when I wrote that chapter, that’s it for me.
“I’ll make a few remarks. First of all, I continue to respect my President, Jonathan. I do not have any grudges against anyone. The most important thing for me is not about personalities. I think what comes out of my chapter, like in the book, is something that we all know. Which is that for decades, the Nigerian state has been captive to elites class that sees the state as a site.
“This is a fact, and this is what has destroyed Nigeria. People get into office, and when they get into office, what they’re thinking of is how much they can make out of the state, rather than how they can use the state to serve the citizens. If we agree on that, we have no disagreements. Why is Nigeria where it is today? I mean, you referred to the Dangote Refinery.
“I don’t know what the details are. For a country feeding itself from imported petroleum products, instead of grabbing this opportunity, you know with open arms, we are frustrating it. Why would anyone stop us from having the capacity to produce our own refined petroleum products? Because there are vested interests who have profited from Nigeria continuing to import these products.
“They could be all marketers internationally. They could be people locally who have been profiting from these subsidy stamps. And this is the end, because every excuse disappears when you are not getting imported, and you are disembarking.”