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 Missing $20bn issue not adequately addressed – Sanusi

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eddyvic
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PostSubject: Missing $20bn issue not adequately addressed – Sanusi   2015-03-19, 06:06

Former Governor of the Central
Bank of Nigeria and the current
Emir of Kano, Lamido Sanusi, says
the issues surrounding the missing
$20bn oil money have not been
adequately addressed by the
Federal Government.
Sanusi, who is now known as Emir
Muhammadu Sanusi II, had last year
raised the alarm about missing
$20bn but was removed shortly
after by President Goodluck
Jonathan.
The Federal Government later hired
an international audit firm,
Pricewaterhousecoopers, to audit
the account of the Nigerian
National Petroleum Corporation.
The PWC report stated that NNPC
must remit $1.48bn to the
Federation Account.
However, Sanusi, said during an
interview with Christiane
Amanpour on the Cable News
Network on Wednesday, that the
level of corruption in the oil sector
was still high.
He said for instance, no one had
accounted for the billions of dollars
paid in kerosene subsidy which was
not approved by the National
Assembly.
Sanusi added that Nigeria’s
economic crisis caused by the fall
in oil prices, the stock market
crash and the devaluation of the
naira, was due to the
mismanagement of oil funds.
He said, “My position in the Central
Bank was that there was always this
gap of $20bn after reconciliation
between what the NNPC exported
and what it deposited into the
Federation Account. I raised a
number of issues that I think have
not yet been discussed and
addressed sufficiently.
“One of them is the billions of
dollars being paid in kerosene
subsidies without appropriation by
the National Assembly and against
a presidential order and we don’t
know who authorised those
payments and yet no one has
owned up to say I authorised the
payments, I made a mistake. It must
stop. I think those issues need to
be addressed and until we address
them and begin to close all the
loopholes in government
revenues, we are going to continue
to create opportunity for the
destruction of the economy.
“It could be $20bn at the end of the
day. After reconciliation it could
amount to $14(bn) or $12(bn) and I
think these issues reflect
unconstitutional and illegal
withholding of revenues from the
Federation Account.
“The country is paying the price
today; oil prices have crashed, the
currency has been devalued, the
stock market has collapsed,
government revenues are in a very
bad shape. Whoever wins, whether
this government or the opposition,
will have to deal with these issues.
The petroleum sector is a major
drain on the resources of the
country and this has to be looked
at.”
Sanusi, who said the presidential
candidate of the All Progressives
Congress, Maj.Gen Muhammadu
Buhari (retd.), was right to say that
corruption was killing Nigeria,
added that Nigeria must stop living
in denial.
The Emir praised the military for its
recent successes in the fight
against terrorism, saying Boko
Haram would have been curtailed if
the anti-terror war had started a
long time ago.
Reacting to a question about
threats by Boko Haram to kill him,
Sanusi said, “If I had a way of
knowing that if Boko Haram took
my life, they would stop killing
people in Nigeria, I would give my
life. I have nothing else to aspire to,
I have achieved.
I think the important thing is for
every Muslim leader to speak up.”
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PostSubject: Re: Missing $20bn issue not adequately addressed – Sanusi   2015-03-19, 06:28

Always check ur post...double post
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