Former President Goodluck Jonathan has firmly rejected claims that $49.8 billion went missing from government treasuries during his administration. Speaking at the launch of the book “Public Policy and Agents Interests: Perspectives from the Emerging World,” co-authored by former Finance Minister Shamshudeen Usman, Jonathan addressed allegations made by former Central Bank Governor Sanusi Lamido Sanusi, who claimed he was dismissed for alerting the public about the missing funds.
Jonathan stated that no funds were lost, asserting that the allegations originated from the leadership of the Central Bank of Nigeria (CBN) at the time. He recalled that an internationally recognized audit firm engaged to investigate the matter cleared his administration of any wrongdoing.
During his remarks, Jonathan acknowledged Sanusi’s contribution but disagreed with his assertion that he was sacked for whistleblowing on the alleged missing funds. He clarified that Sanusi was suspended due to serious infractions raised by the Financial Reporting Council, emphasizing that the substantial amount claimed to be missing could not have gone unnoticed in a country with a budget of approximately $31 billion at the time.
“I did not agree with some issues raised by one of the contributors… the claim that he was sacked because the Federal Government lost $49.8 billion is not quite correct,” Jonathan stated. He recounted a conversation with former German Chancellor Angela Merkel, where he reiterated that such a significant sum could not vanish from a struggling nation without repercussions.
Jonathan noted that Sanusi’s figures varied over time—from $49.8 billion to $20 billion and finally to $12 billion—suggesting a lack of consistency in the claims. He also referenced a report by Price Waterhouse Coopers (PwC), which indicated that while $1.48 billion could not be accounted for by the Nigerian National Petroleum Corporation (NNPC), there was no evidence to support the missing $49.8 billion.
The launch of the book also marked the unveiling of the Shamsuddeen Usman Foundation, dedicated to promoting education and artificial intelligence in Nigeria. At the time of the event, the Emir of Kano, who served as the royal guest, had yet to make his remarks.
