$49.8bn didn’t miss under my watch, Jonathan fires back

In a fiery and unyielding stance, Nigeria’s former President Goodluck Jonathan vehemently denied claims that a staggering $49.8 billion vanished under his administration.

Speaking on Thursday at the launch of a groundbreaking book by former Minister of Finance, Dr. Shamsudeen Usman, Jonathan set the record straight, dismantling the rumors with precision.

Jonathan, facing the swirling allegations head-on in Abuja, declared, “Not a dime of $49.8 billion was lost under my leadership!” He was referring to a sensational claim made by none other than former CBN Governor, now Emir of Kano, Muhammad Sanusi II, who once alleged a financial black hole of monumental proportions during Jonathan’s reign.

In his bombshell speech, Jonathan calmly but firmly reminded the audience that Sanusi’s suspension had nothing to do with the allegations of financial impropriety but rather serious irregularities flagged by the Financial Reporting Council regarding the Central Bank’s expenditures. “Sanusi wasn’t sacked for blowing any whistle—he was suspended for the CBN’s questionable financial conduct,” Jonathan revealed.

The former president didn’t stop there. He raised eyebrows as he pointed out the confusion surrounding Sanusi’s fluctuating figures—first $49.8 billion, then $20 billion, and later $12 billion. “Which is it? $50 billion? $20 billion? Or $12 billion? Even I can’t keep up!” Jonathan exclaimed, dismissing the figures as inconsistent and misleading.

Jonathan further emphasized the absurdity of such a loss, noting that Nigeria’s entire budget at the time was only $31.6 billion. “How could we lose $50 billion when our whole budget was smaller than that? And yet, salaries were paid, and the country continued without a hitch?”

To bolster his defense, Jonathan reminded everyone that PricewaterhouseCoopers had conducted a forensic audit, which only flagged $1.48 billion in discrepancies. “PWC never said anything about losing $50 billion, $20 billion, or even $12 billion,” Jonathan asserted.

As tensions simmered, Sanusi humorously acknowledged Jonathan as “my boss who sacked me,” but refrained from diving into the fray, choosing to leave the past behind. However, he did offer a stern warning: Nigeria must seize the opportunity provided by the Dangote refinery or risk losing out due to vested interests.

The event, which also marked the launch of the Shamshudeen Usman Foundation and fundraising for an Artificial Intelligence Centre, was anything but uneventful. Jonathan’s powerful rebuttal left no doubt—no billions went missing on his watch!