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Update: Missing Oil-B$llions: Two Crooks-Sanusi And Jonathan Meets, Secretly Reached Accord To Keep Their Loots–Republic Reporters

Update: Missing Oil-B$llions: Two Crooks-Sanusi And Jonathan Meets, Secretly Reached Accord To Keep Their Loots–Republic Reporters New York[RR] Abuja–There are no answers about alleged missing billions of dollars accruing from Oil and Gas industry in Nigeria. While President Jonathan administration in ‘non-existence’ government of Nigeria (apologies to Senator John McCain,from Arizona State),was busy looting billions […]

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Update: Missing Oil-B$llions: Two Crooks-Sanusi And Jonathan Meets, Secretly Reached Accord To Keep Their Loots–Republic Reporters

New York[RR] Abuja–There are no answers about alleged missing billions of dollars accruing from Oil and Gas industry in Nigeria. While President Jonathan administration in ‘non-existence’ government of Nigeria (apologies to Senator John McCain,from Arizona State),was busy looting billions of oil and gas funds with ineffective ministers, family relatives, cronies and praise singers in corridors of power, former quota-CBN Governor Sanusi Lamido-Sanusi was busing donating billions to mainly Northern establishments as part of development, Republic Reporters has learnt. Evidence show that Jonathan is dishing out millions to ex-militants in Delta, while, former Central Bank of Nigeria, CBN, now Emir of Kano, Lamido Sanusi Lamido, was equally dishing out billions of dollars/Naira to Northern institutions that ends up in the pockets of dreaded Islamic fundamentalists popularly known as Boko Haram. Others say Sanusi-Lamidi-Sanusi, actually bought himself Emirship, insider sources in Kano and Abuja disclosed to Republic Reporters.

Curiously in a brokered meeting by Sultan of Sokoto, Sa’ad Abubakar III, President Jonathan and Sanusi-Lamido-Sanusi finally met in Aso-Villa to end their feud. Reliable source close to the warring parties told Republic Reporters that “They agreed to let peace reign, and move the nation forward, as investigation of Sanusi is quietly swept under the rug, but, Sanusi-Lamido-Sanusi, had to make the move first by withdrawing and dropping all litigation over his suspension as CBN Governor.sources told Republic Reporters.

Curiously, alleged missing 49billion, later, 20 billion, and later 10 billion dollars from Scroll account stands unaccounted for as at press time, is history. “My friend, listen, they are both crooks; roads are collapsing, of-course no electricity, unemployment is at all time high.. you can add your own list. And you think they will fight forever and expose themselves and their loots, you’re dreaming..”, said anonymous insider close to two parties, who knew something that help brokered the charade they called “fast during this ramadan”, he fumed.

Reuben Abati, Media and Publicity Adviser to President Jonathan, said: “If I may just draw attention to a few of them: the persistent refusal and negligence to comply with public procurement act in the procurement practices of the CBN; unlawful expenditure by the CBN on intervention projects across the country deploying huge sums of money as the CBN did under the watch of Mallam Sanusi without appropriation and outside the CBN’s statutory mandate. It is said that the expenditure of public funds of course by any organ of government must be based on clear legal mandate, prudent constraint and overriding national interest. And then, the financial infraction and act of financial recklessness committed by the CBN and reflected in its audited financial statement for 2012.

He said: “The review by the “Financial Reporting Council of Nigeria rather than allay the fears of government further confirmed concerns about the untidy manner in which the affairs of the CBN were conducted.

“The question has also been raised on whether this has to do with the ongoing appearances in the National Assembly by the suspended CBN governor. I will like to state very clearly that this has nothing to do with that. I have given you the background so that you can see that this is the process.

“And indeed we look forward to a situation whereby Mr. Sanusi will continue to assist the legislature in their investigations and will continue to testify because what government is interested in really is transparency and accountability and anything that will further promote that objective is perfectly welcome,” he said.

“..The CBN had an additional brought forward to General Reserve Fund of N16.031 billion in 2012 but proceeded on a voyage of indefensible expenses in 2012 characterized by inexplicable increases in some heads of expenditure during the year. Examples include:

‘The bank spent N3.086 billion on “promotional activities” in 2012 (up from N1.084 billion in 2011). The bank spent this sum even when it is not in competition with any other institution in Nigeria;

“The CBN claimed to have expended N20.202 billion on ‘Legal and Professional Fees’ in 2011 beyond all reasonable standards of prudence and accountability;

“Between expenses on ‘Private Guards’ and ‘Lunch for Policemen’, the CBN claimed to have spent N1.257 billion in 2012;

Apparently,when Sanusi Lamido Sanusi was about to get caught on his looting ways via suspicious and unlawful donations, he became a whistle blower overnight. Sanusi accused the Presidency and his NNPC cronies of looting 49billion, 20billion and later 10billion dollars of oil and gas funds that should have been deposited in the Central Bank of Nigeria, CBN, and, or at least CBN should have been notified about the movement of aforesaid funds.

Another news source queries Sanusi’s judgement. He wrote: “Sanusi currently executing about 63 “donation” projects across the country and has committed over N163billion without approval or approved appropriated budget and you say is witch hunting? is the CBN now a construction company or a charitable organization.

“Sanusi allegedly made an expenses on ‘Private Guards’ and ‘Lunch for Policemen’, worth N1.257 billion in 2012…;

“The CBN claimed to have expended N20.202 billion on ‘Legal and Professional Fees’ in 2011 beyond all reasonable standards of prudence and accountability;

Sanusi claimed CBN spent N3.086 billion on “promotional activities” in 2012 (up from N1.084 billion in 2011). The bank spent this sum even when it is not in competition with any other institution in Nigeria;…. what is CBN advertising or promoting to attract that huge sum for”? he queried.

ThisDay also reported on January 9, that: “Jonathan had demanded the immediate resignation of Sanusi on the grounds that the CBN governor had allegedly leaked the letter he wrote to him on the remitted $49.8 billion to former President Olusegun Obasanjo.

Republic Reporters investigation demonstrate that, Sanusi topped his nose at the president,stating that only the Senate could remove him from office by a two-thirds vote.

Another anonymous commentator wrote: “This man is simply playing a dangerous political game. He openly romances the opposition and attacks the integrity of his employers. Do an analysis of the CBN governor’s speeches at a birthday colloquium of a notable opposition political leader in the South-west last year as well as what he said at the book launch of the spokesman of the main opposition party in Abuja, and that will show you the mindset of a man who is supposed to be the chief economic adviser of the federal government,” the source added.

Sanusi’s CBN donated N10Billion to Usman Danfodio University. He called the donated the sum of N10 billion as intervention fund to the Usman Danfodio University, Sokoto to build infrastructure, capacity and manpower development.”, Sources.

ThisDay said: “He described the N10 billion intervention fund as part of CBN’s corporate social responsibility for 2013 aimed at building capacity and manpower as well as infrastructure in the university, with a view to making the Nigerian economy at par with top economies in the world.

According to him, the Nigerian economy could only move to an appreciable level, if it has trained a highly skilled manpower.

“As you are aware, the federal government has a vision to put the Nigerian economy among the top 20 economies in the world by the year 2020 so that our financial sector will be at par with that of developed economies.

“So, you can only have the best economy if you have highly trained manpower and this intervention fund is aimed at developing highly skilled manpower in the university to help drive the nation’s economy to a desired level,” he said.

Sanusi, who spoke through the Deputy Director, Projects, Planning and Implementation Division, Procurement and Support Services Department of the CBN, Mr. Kabiru Nuhu Koko, stated that the intervention fund would be chanelled towards improving facilities in the university…”, THisDay reported.

Not to mention N100Million to Victims of Kano Bomb blast,while, Church Bomb blast were left with N25Million Madalla bomb blast, after much criticism. Mr. Sanusi said that the CBN had always intervened in the economic development of Nigeria.
And added that: “The legal basis for CBN intervention in certain sectors of the economy is contained in Section 31 of the CBN Act 2007,” he said.

Bayero University Kano, BUK, collected N4billion, but BUK authorities claimed it collected only N1billion. There was also N3.5 billion CBN staff housing loan, donation of about N1 billion to a political party, in this case, APC, to open up offices across the country as well as the donation of N4 billion to the Bayero University Kano, to mention but a few.

Meanwhile, Republic Reporters investigations show that Jonathan administration lacked fiscal responsibility and transparency and cannot account for alleged missing billions from Oil and Gas at NNPC.

Shamelessly, reports stating that the Emir of Kano, Muhammadu Sanusi II, yesterday evening in arranged appearance at the presidential villa where he allegedly observed the break of the Ramadan fast with President Goodluck Jonathan, was a charade by two crooks who agreed to keep their loots.

Authoritative reports mentioned Sultan of Sokoto, Sa’ad Abubakar III to have brokered Aso Rock break-fast of Ramadan dubious president Jonathan with his cronies; making the meeting between the president and Sanusi since Sanusi bought the Emir of Kano, as immunity against any prosecutions. It must be recalled that Jonathan on February 20, 2014, suspended Sanusi as CBN Governor over multiple allegations of financial recklessness.

Sanusi Lamido-Sanusi, until now, was contesting his suspension as the CBN governor in court, was curiously smuggled in and crowned the Emir of Kano following Boko-Haram attack of former Emir, Ado Bayero, which eventually led to his the death. Sanusi had on July 1, this year, 2014, dropped the suit against the federal government, and in return Jonathan granted his breakfast appearance were both agreed to keep their loots.

Update later…

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