SANUSI MAKES U-TURN, SAYS ONLY $12 BILLION UNREMITTED

Last updated: 2013/12/18 at 7:53 PM

starconnect Published 18 December 2013

Governor of Central Bank (CBN), Sanusi Lamido Sanusi has withdrawn statement contained in his letter to President Goodluck Jonathan that $49.8 billion was missing and unremitted from the Nigerian National Petroleum Corporation (NNPC) to CBN, noting that what was unremitted is now $12 billion.

The CBN governor also expressed regrets that his communication to the president was leaked to the public, adding that his letter did not show that the CBN had concluded its investigation on the matter. Sanusi Lamido Sanusi made the clarification when he appeared before the Senate Committee on Finance along with Minister for Finance Dr. Ngozi Okonjo-Iweala, and Minister for Petroleum, Mrs. Diezane Alison-Madueke.

His assertions did not however agree with that of the Minister of Finance, Dr. Ngozi Okonjo-Iweala, who said the actual amount was $10.8 billion.

Sanusi also said his letter was meant for the president to launch an investigation into the issue: “I repeat, Mr Chairman, we did not see the letter as a conclusion of our investigation but an invitation to investigate. So, the conclusion that $49.8billion was missing was wrong even though we had the allegation that it was unremitted, ” he told committee’s chairman, Senator Ahmed Makarfi.

“Now, we still are in the process of trying to reconcile that number and we have not even started talking of the sales, the export sales tax, which is about $2billion, which will come after the sales. The Finance Ministry has told us that even before now, there is ongoing negotiation and discretion with NNPC ad-hoc committee and these numbers have always been discussed at the level of Commissions of Finance”, Makarfi said.