Former President Goodluck Jonathan and the Emir of Kano, Muhammad Sanusi II, engaged in a public disagreement on Thursday regarding the circumstances surrounding Sanusi’s removal as Governor of the Central Bank of Nigeria (CBN) and the controversial claim of a missing $49.8 billion during Jonathan’s administration.
The two men spoke during the launch of the book, Public Policy and Agent Interests: Perspectives from the Emerging World. This book was co-authored by Sanusi and former Minister of Finance, Shamsuddeen Usman, who served under Jonathan.
At the launch, Jonathan strongly denied that any amount close to $49.8 billion had gone missing from the country’s treasury during his presidency. He emphasized that the claim was not only misleading but also impossible for a nation with a budget of just $31.6 billion.
“Let me be clear: I did not sack Emir Sanusi,” Jonathan stated. “He was suspended for a reason, and that was related to serious infractions in the CBN. It was not a dismissal.”
Sanusi, addressing the audience shortly after Jonathan’s comments, maintained that he had indeed been dismissed. “My boss sacked me. I was constructively dismissed,” he said with a lighthearted tone, adding that he bore no grudges against Jonathan.
The disagreement centers around an event that has continued to stir controversy in Nigeria. In 2014, Sanusi alleged that $49.8 billion in oil revenue could not be accounted for by the Nigerian National Petroleum Corporation (NNPC). His claims drew national attention and resulted in his suspension from the CBN.
Sanusi later maintained that he was sacked for exposing the alleged corruption, while Jonathan has consistently insisted that the former CBN governor’s suspension was due to infractions that warranted investigation.
At the book launch, Jonathan stressed that an international audit firm, PricewaterhouseCoopers (PwC), conducted a thorough investigation into the matter. According to him, the audit revealed that no such funds were missing.
Jonathan remarked, “I need to say that I am not convinced that the Federal Government lost $49.8 billion. The narrative changed from $49.8 billion to $20 billion, and then to $12 billion. I do not even know the correct amount anymore.”
He explained how he faced scrutiny from international leaders, including German Chancellor Angela Merkel, over the missing funds. He described having to clarify to her that a struggling nation like Nigeria could not lose such an enormous sum of money without the public noticing.
In his remarks, Jonathan mentioned that the only shortfall identified by the audit was $1.48 billion, which the NNPC was unable to account for. He called for better research from those discussing these issues, indicating that there is a need for factual information in public discourse.
“Let us not forget that during my administration, we paid salaries, and the country did not feel the impact of such a loss. If we had lost $49.8 billion, the consequences would have been severe,” he added.
The missing $49.8 billion claim has been a contentious issue in Nigeria’s political landscape. It raised concerns about corruption and accountability within the country’s oil sector, which is vital to Nigeria’s economy. The oil industry has often been marred by scandals and mismanagement, leading to public outcry and demands for transparency.
Sanusi’s initial claim was made public during his tenure as CBN governor and was a major factor leading to his suspension. The fallout from these events has shaped the relationship between the two prominent figures and continues to resonate in political discussions in Nigeria.
Reactions to the disagreement were mixed among attendees at the book launch. Some expressed surprise at the public exchange between two influential figures, while others noted that it reflects the ongoing struggles in Nigeria regarding leadership accountability and transparency.
Another guest pointed out that the debate over the missing funds is not just a personal conflict but has broader implications for how the Nigerian public perceives governance and accountability.
