curator
Administrator
Within the four short days since President Goodluck Jonathan illegally suspended Central Bank of Nigeria governor Sanusi Lamido Sanusi, the nation has suffered the debilitating effects of an emergency imposed on it. Instantly, the naira dipped at a rate never seen in 15 years. The stock market was hit and has shed at least N130billion since then. But the unkindest cut, it appears, has been the loss of investor confidence: foreign investors have been wary of investing in an economy where, at a whim, a politician could sack the governor of the country’s central bank.
Sanusi’s sin, which the president tried in vain to hide during the “Presidential Media Chat” last night, is that he has blown the whistle on fat crooks that have been plundering the nation through oil theft and phantom subsidies. Sanusi’s letter to the president last September informing him of discrepancies in the remission of oil revenues had put a question mark on the whereabouts of trillions of naira. The letter leaked, prompting another letter to the president by former president Olusegun Obasanjo and an emergency reconciliation of accounts by the relevant ministers, the NNPC and the CBN in December. At the latter event, the figure of missing money went down to between $12billion and N10.8billion. Still, officials of Nigeria’s citadel of corruption (NNPC) denied that any money was missing: the money, they said, was used to finance kerosene subsidy, protect pipelines and carry out other activities that few people noticed. Yet again, Sanusi has revealed that $20billion is still missing from the nation’s oil revenue receipts.
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Source: Leadership Newspaper
Sanusi’s sin, which the president tried in vain to hide during the “Presidential Media Chat” last night, is that he has blown the whistle on fat crooks that have been plundering the nation through oil theft and phantom subsidies. Sanusi’s letter to the president last September informing him of discrepancies in the remission of oil revenues had put a question mark on the whereabouts of trillions of naira. The letter leaked, prompting another letter to the president by former president Olusegun Obasanjo and an emergency reconciliation of accounts by the relevant ministers, the NNPC and the CBN in December. At the latter event, the figure of missing money went down to between $12billion and N10.8billion. Still, officials of Nigeria’s citadel of corruption (NNPC) denied that any money was missing: the money, they said, was used to finance kerosene subsidy, protect pipelines and carry out other activities that few people noticed. Yet again, Sanusi has revealed that $20billion is still missing from the nation’s oil revenue receipts.
Click here to read more
Source: Leadership Newspaper