From Abubakar Suleiman
In a heated exchange at the launch of the book Public Policy and Agents' Interests: Perspectives from the Emerging World, former President Goodluck Jonathan and Emir of Kano, Muhammad Sanusi II, disagreed over the circumstances surrounding the latter's removal as Governor of the Central Bank of Nigeria (CBN).
Sanusi, co-author of the book along with former Finance Minister Shamsudeen Usman, claimed that his dismissal was a result of his whistleblowing on $49.8 billion allegedly missing from government coffers during Jonathan’s administration.
He argued that his stance on the alleged financial discrepancy led to his ouster from the central bank.
However, Jonathan refuted the claim, stating that Sanusi was not sacked but rather suspended based on infractions raised by the Financial Reporting Council (FRC) regarding the CBN's expenditures. Jonathan explained that Sanusi’s tenure ended before the situation could be resolved, adding that he would have likely been reinstated had his tenure not expired.
Jonathan further dismissed the whistleblower's claims of missing billions, asserting that with a national budget of $31.6 billion at the time, it was implausible for such a significant amount to be stolen without causing immediate economic disruption.
He recalled that subsequent investigations, including one by PriceWaterhouseCoopers (PWC) and a Senate committee, found no evidence of the alleged loss, except for an unaccounted $1.48 billion at the NNPC.
In response, Emir Sanusi, speaking later at the same event, stood by his assertion, stating that Jonathan had “constructively dismissed” him from his role at the CBN, albeit jokingly acknowledging his respect for the former president despite the fallout.
Sanusi also expressed frustration over the challenges faced by Dangote Refinery, accusing vested interests of hindering the refinery’s operations.
He highlighted the need for Nigeria to capitalize on opportunities like the refinery to reduce reliance on fuel imports but lamented the obstruction by those prioritizing personal gains.
The event also marked the unveiling of the Shamsuddeen Usman Foundation, dedicated to promoting education and artificial intelligence in Nigeria, a project founded in honor of Usman’s contributions to public service.
