Emir Of Kano Owes President Jonathan, Allison-Madueke An Apology, Group Says

Goodluck Jonathan

Former Governor of the Central Bank, Alhaji Sanusi Lamido Sanusi, who is now the Emir of Kano, owes President Goodluck Jonathan, the Minister of Petroleum Resources, Diezani Alison-Madueke and the country’s senate a public apology over allegation that $49 billion of oil revenues were not remitted to the Federation account. This motion was moved by a civil society group, Move on Nigeria, which cited the audit report on the Nigeria National Petroleum Corporation (NNPC) by PriceWaterhouseCoopers, indicating that only $1.48 billion was yet to be remitted.

“As a group, which was in support of the call for a probe, we now feel that having had the result with the allegation of $49 billion missing proven to be false, we therefore call on the Emir of Kano, and indeed, all those who worked to heat up the polity and insulted the President of the Federal Republic and the Minister of Petroleum Resources, to own up to their faults and apologise to the nation,” the group said in a statement signed by its national Coordinator, Clem Aguiyi.

The Emir of Kano, Alhaji Muhammed Sanusi II had in 2013, while he was still Governor of the Central Bank of Nigeria (CBN), alleged that that the NNPC failed to remit $49.8 billion. These funds were proceeds from crude sales between January 2012 and July 2013. The allegation set off a period of volatility and accusations and eventually led to a probe. Audit firm, PriceWaterhouseCoopers (PwC) was hired to independently verify the claims and publish a report on its findings.

The upper arm of the country’s upper legislative chamber had earlier mandated its committee of Finance chaired by Ahmed Makarfi to investigate the allegation. However, the committee claimed that no money was missing.

In the recently submitted report by PwC to President Jonathan, the firm stated that:

1. The gross revenue generated from FGN crude oil lifting for the period 1 January 2012 to 31 July 2013, was $69.34 billion and not $67 billion reported by the Reconciliation Committee.

2. The total cash remitted into the Federation Accounts in relation to these crude oil lifting, was $50.81 billion and not $47 billion as earlier reported by the Reconciliation Committee.

3. The balance of the generated revenue accounted for are as follows: a) Revenue reported by NPDC of $5.11 billion reported by the MD, Mr. Briggs, during the Senate hearings will be accounted for, through the financial statements of NPDC, and any dividend declared will flow into the Federation account. b) PMS and DPK Subsidy of $8.7 billion c) NNPC’s initial costs verified and accepted by the senate of $2.65 billion d) Additional NNPC costs following the forensic audit $2.81 billion e) Added to the Revenue is the unremitted NPDC signature bonus due for divested assets and taxes/royalties totalling $2.22 billion. f) Hence, the net amount attributable to the federation account following the above summary is $1.48 billion.

Move On Nigeria therefore says that “all those who reached judgemental conclusions, ought to swallow their pride and tender public apology to the president, the minister and also the senate of the Federal Republic” now that the report has been made public and allegations squashed.

8 COMMENTS

  1. It’s immaterial whether it’s one kobo or 100bn that’s missing. Money is missing and someone is responsible. We need more of Sanusi in the system. Why did the minister of aviation go to court to stop an investigation on other allegations…
    So a public officer should be pardoned cos he stole what is nit upto the price of a car in a country where vast majority of her people live on less than #200 per day… Sanusi deserves kudos..

  2. You can say that to the Gods.
    Tell them after a child has died u have found remedy. We know you’re not trying to repaint lies and make it good. Why was the money not there when need to be accounted for and after 2yrs you finally figure a way to adjust the account :) the whole Nigeria is apologizing to you see my teeth. Sowwi ooooo

  3. Sanusi, Emir of Kano has been quiet for long. If he comments again he will not only open the canker-worms but destroy Okonjo’s reputation,Confirm Dieziani’s Greed & GEJ’s incompetence. PWC was Fined $25m in the for accounting fraud and was hired by Okonjo. The report only came out because Soludo wrote that article. And with all the delay tactics -$1.48 Billion dollars was un-accounted for! How is Sanusi to apologize? He is a national hero.

    Didn’t GEJ and Okonjo just borrow $1B for Ammunition? Is the amount stolen not more than what’s borrowed? How much was really missing?

    OKONJO promised in weeks and it took over 6 months.
    My question here is simple – Was Money Missing? Do we even know how much we lose daily? Just because figures can’t be met due to diversion of funds?

  4. when are we going to realise that things are no normal in our country?if a poor man steel a kobo is money but if d goat leaders we ave steel 1 billion dey go free who will be held responsible for the missing 1 billion american dollars God.

  5. Shame!! If a civil society group has also gone to this extent to talk trash, then we are finished. They have also been paid, conscienceless society. The actual report of PwC said they should remit a minimum of $1.48b meaning that, the company is tactically exonerating itself from future blames having being forced to doctor the report by transposing figures of $48.1b to $1.48b to save the government of GEJ. So whoever calls for apology is the biggest thief.

  6. It is funny how some rudderless, headless & nameless people will hide under one lousy civil society group to be making useless and senseless public comments. So Emir should first apologise to these thieves for accusing them of stealing more than they actually stole before we ask the thieves the whereabouts of what they stole.
    And it’s funny how they keep calling the PwC audit ‘independent’. Who employed them to carry out the audit? Are the records used for the audit not gotten from NNPC officers? Is it not possible that part of the retainership instructions is to ensure a barest minimal reduction of the missing amount?
    Let’s not be fooled oga national coordinator (Clem Aguiyi), money is still missing and unaccounted for i.e. stolen. Don’t let’s shift the attention on someone who revealed this secret. Let’s ask them how come and public money is being diverted for their private use.

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