On Thursday, former President Goodluck Jonathan firmly denied claims that the Federal Government lost $49.8 billion during his presidency, News About Nigeria reports.
Speaking at the launch of a book authored by former Finance Minister Dr. Shamsudeen Usman, Jonathan addressed allegations made by the former Governor of the Central Bank of Nigeria (CBN), now Emir of Kano, Muhammad Sanusi II.
During the event in Abuja, Jonathan refuted Sanusi’s claim that his suspension was due to exposing the alleged loss of $49.8 billion.
Instead, Jonathan clarified that Sanusi was suspended due to financial infractions raised by the Financial Reporting Council, not whistleblowing.
“The claim that the Federal Government lost $49.8 billion is not accurate,” Jonathan stated. “The suspension of the former CBN governor was linked to questions over CBN’s financial conduct. Serious infractions were discovered, but Sanusi’s tenure ended before investigations could be completed.”
Jonathan further stated that the alleged loss of nearly $50 billion was implausible given Nigeria’s budget at the time, which stood at $31.6 billion.
He noted that payments, including salaries, continued without disruption, adding that research into the matter should be further examined.
The former president also recounted the forensic audit conducted by PriceWaterhouseCoopers (PWC), which found an unaccounted $1.48 billion, not $49.8 billion.
The audit report suggested that the Nigerian National Petroleum Corporation (NNPC) should pay this amount into the Federation Account.
“There was no finding of missing billions as claimed,” Jonathan said, citing Senate Committee investigations that similarly found no evidence of such a loss.
Jonathan praised Dr. Usman, lauding his contributions to Nigeria’s economic planning and development during his time as a minister.
He described Usman as one of the best planning ministers the country has had and commended his new book, ‘Public Policy and Agent Interests: Perspectives from the Emerging World’, as an essential resource for policymakers, students, and business leaders.
