Former president of Nigeria, Goodluck Jonathan has refuted an allegation put forth by the 16th Emir of Kano, Muhammadu Sanusi II, in his recent book regarding an alleged $49.8 billion loss that occurred during Jonathan’s presidency.
At the book launch event in Abuja for “Public Policy and Agent Interests: Perspectives from The Emerging World,” Jonathan emphasized that a financial loss of that magnitude would have severely impacted the country’s ability to meet payroll obligations, highlighting the potential dire consequences for the nation’s workforce.
Jonathan’s remarks were a direct response to Emir Sanusi’s assertions, which suggested that financial mismanagement during Jonathan’s presidency had a negative impact on Nigeria’s economy. The book was edited by former Minister of Finance Shamsuddeen Usman.
“I need to say why I do not quite agree with him,” Jonathan said. He pointed out that Sanusi claimed he was dismissed for exposing the alleged loss of $49.8 billion, but Jonathan clarified, “It’s not quite correct. It was not that he was sacked. He was suspended.”
The former president also noted that the Financial Reporting Council of the Central Bank of Nigeria (CBN) was unable to investigate the allegations thoroughly due to time constraints. “Before we could finish, his tenure was already over. Probably we would have called him back,” he explained.
Jonathan expressed his doubts about the alleged $49.8 billion loss, stating, “Till today, I’m not convinced that the federal government lost $49.8 billion.”
He mentioned that the figures surrounding the claims varied significantly, noting, “First $49.8 billion, later $20 billion, later $12 billion. So, I don’t even know the correct one.”
Furthermore, he added that after conducting forensic audits, no one could confirm that $50 billion was missing.
He concluded, “The report they came up with was that there is $1.48 billion that they couldn’t really give a proper account for and that NNPC should pay that money to the federation account.”
