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Nairaland Forum / Nairaland / General / Politics / Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN (2813 Views)
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Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Kachi188(m): 12:52am On Jan 04, 2014 |
President Goodluck Jonathan has queried the governor of the Central Bank of Nigeria, CBN, Sanusi Lamido Sanusi, over various infractions detected in the apex bank’s 2012 audited account. The query, which covered 22 issues bordering on massive fraud at the bank, was sent to the governor on May 6 and the response, though expected back on May 8, was submitted to the President on May 21. The query of the bank’s account, which its auditors, Ernst and Young, passed without officially signing, with only a comment that it complies with the CBN Act, covers issues such as investment of a huge amount of money in an Islamic bank in Malaysia without any guarantee of its generating returns. Others are write-off of about N3.5 billion CBN staff housing loan and the donation of about one billion naira to a political party to open up offices across the country. This donation, which was given under the special access item in the account, is believed to be geared towards furthering Sanusi’s alleged political ambition in the 2015 general elections. The query touched other issues such as refusal of the apex bank to consolidate in its account, the trillion debt owed by the Asset Management Company, AMCON, and the non-disclosure of the total liabilities through the bond floated by the company. The governor was also asked to explain the discrepancies noted in the 2012 account regarding the Nigerian Security Printing and Minting Company, a subsidiary of the apex bank. Other issues include the controversial donations made to some higher institutions in the country. Investigations have shown that some of the donations were inflated in the bank’s books For example, while the Bayero University Kano, BUK, was said to have collected N4billion, the school authorities claimed it got only N1billion. The apex bank’s account became suspicious when the governor refused to submit it to the Financial Reporting Council, FRC, the body with the mandate to ascertain the compliance of companies with accounting standards, and the International Financial Reporting Standards, IFRS. Rather than submitting it to the body, the governor requested for seven years’ grace for the CBN to comply with FRC stipulations. The audit report of the account, which was submitted directly to the President, was later forwarded to the economic adviser to the President for his appraisal. The official okay the account and noted that it complied with the CBN Act. However, unhappy with the economic adviser’s comment, Jonathan returned the report to him and drew his attention to the refusal of the auditor to sign the account. An official of Institute of Chartered Accountant of Nigeria, ICAN, told our reporter that an audit report is worthless when it does not carry the signature of the auditor. This is not the first time the CBN account will be open to scrutiny but the bank has always hidden under its autonomy to stave off close inspection. The apex bank is on the first line charge and receives its appropriation directly from the federation account and exercises enormous financial autonomy. In May, the public accounts committee of the House of Representatives also had cause to query several expenditure items amounting to N4.7 billion in the CBN accounts. This included the N2.8billion which the bank said it spent on the construction of its Port Harcourt branch. The House in turn had worked with a report from the office of the auditor general of the federation which queried extravagant expenditure by the apex bank for which documents were not made available for verification. Chairman of the House committee on public accounts, Solomon Olamilekan at a meeting with officials of the bank alleged that there were indications that due process was not followed in expenditure as no documents were provided. Some of the transactions that the committee queried include the sums of N23 million and N50claimed to have been spent for the same purpose of renovating the governor’s official residence as well as N848 million spent on the purchase of a property from the National Planning Commission without any transaction agreement. However, like many probes of public institutions by the National Assembly, the matter appears not to have been pursued. The N4 billion donation to BUK questioned in the President’s query had not even been known to the public. What had irked many Nigerians, including federal lawmakers, was the donation earlier in the year of N100 million to victims of terrorism in Kano, Sanusi’s hometown. The House of Representatives entertained a motion on misuse of public funds on the donation which degenerated into a rowdy session. Many members accused Sanusi or misuse of public funds. Member from Yobe State, Goni Lawan, described Sanusi’s donation of N100 million to Kano State and another N25m gift to Madalla bomb blast victims as “an act of terrorism”, arguing that attacks in Yobe and Borno states did not attract the same monetary consolations from the CBN governor. “When I first heard of the action of the CBN governor, I was surprised. I asked whether Yobe andBorno states were not parts of Nigeria, as these attacks took place there first,” Lawan said. Attempts to get the apex bank to react our story were unsuccessful. Over a week ago, when our reporter contacted the corporate affairs director of the CBN, Ugochukwu Okoroafor, and confronted him with the various issues noted in the CBN 2012 audited account, he claimed ignorance of any presidential query to the governor. “I don’t know what donation you are talking about. Was it done in cash? I’m not aware of the things you are saying. If you can provide me with this document that would help, because I haven’t seen it,” he said. Okoroafor said he was out of town on an official assignment in Abia State and would not be back until last weekend. A mail asking him to respond to specific allegations about a write-off of about N3.5 billion CBN staff housing loan, donation of about N1 billion to a political party to open up offices across the country as well as the donation of N4 billion to the Bayero University Kano, among others, has not been replied. Also, reminder text messages to the CBN spokesman have been ignored http://247nigerianewsupdate.com/jonathan-queries-sanusi-over-22-fraudulent-act-discovered-at-cbn/ |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Nobody: 1:12am On Jan 04, 2014 |
Ok naa, let the show begin.... |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Ikengawo: 1:15am On Jan 04, 2014 |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Jeboy(m): 1:21am On Jan 04, 2014 |
breeze don blow and monkey yanch don open |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Fhemmmy: 1:32am On Jan 04, 2014 |
Interesting.... but could question the timing, but still nice to know. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Sloan: 1:40am On Jan 04, 2014 |
Fhemmmy: Interesting.... but could question the timing, but still nice to know. If money has been stolen, let the culprits be immediately prosecuted. Why at it, when wi the missing $ 12 B dollars from NNPC be accounted for? When will BMW Odulah be charged to court and convicted for capital punishment? When will shepopotamus Mama Peace tell Nigerians what legitimate income she earned to be able to build a N1 B hotel in Yenagoa? Then, let the retardeen president account for the N 350 B worth of oil stolen every month, the ludicrous N 1 Tr spent on security in 2012 and 2013 respectively and BH is still in business?? Useless government from top to bottom! 5 Likes |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Fhemmmy: 1:50am On Jan 04, 2014 |
^^^^ Nigeria will taste glory one day. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by samuelkaykay(m): 1:55am On Jan 04, 2014 |
RIP to Sanusi's political ambition. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Clerverly: 1:56am On Jan 04, 2014 |
Old and recycled news. Shameless liars 1 Like |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Clerverly: 1:59am On Jan 04, 2014 |
That is Jonathan's style sha, all queries and countless committees no action, simply because he is the headmaster of corruption. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by darne(m): 2:34am On Jan 04, 2014 |
If Sanusi Goes Down Alone On This One, Then He Actually Didnt Deserve His Position In The First Place If This Is Ever True & Yes Another Super Story,....Lets WATCH as usual !!!! BASTAR.DS !!!!!! |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by reporter1: 2:44am On Jan 04, 2014 |
Jonathan has no business querying anybody on corruption. He is the epitome of sleaze. 1 Like |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Nobody: 2:45am On Jan 04, 2014 |
Sloan: The $10.8b should be remitted at the end of NNPC's fiscal year. Oduah cannot be convicted for capital punishment (not even for a capital crime), she was accused of embezzlement/misappropriation of public funds and not murder; the committee that probed the issue concluded that due process was followed, that the cars were not bought in her name and recommended nothing but: that she apply "administrative caution" when dispensing her duties in the future (I have no idea what that means). The peculiar relationship between the presidency and the national assembly prompted GEJ to seek a second opinion. That billion dollar hotel captured by an SR correspondent from a distance while driving through Yenegoa has been alleged, by SR, to belong to Mama peace, what we expect her to do now is to controvert that allegation. N350b in oil theft? I thought we lost $6b (about N900b) annually on oil theft by militancy, wasn't that the basis for OBJ's genocide in Odi and Yar' Adua's negotiating with "terrorist"? The N1Trillion allocated to security in the budget was approved by the NASS, was it not? Nigerians wanted the Executive to prove their commitment to battling insurgency by properly funding the security agencies, Maybe you could get the Military, police, et al to submit their lists of expenditures. 3 Likes |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by egift(m): 2:55am On Jan 04, 2014 |
We have a reactionary Presidency. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Nobody: 3:45am On Jan 04, 2014 |
Something is not just adding up 1st sanusi accused the government of fraud to the tune of over $49 billion and in less than two weeks he hurriedly recanted his statement after been pressured by powers from above now in less than a month the president is querying him. Let us see as the story unfolds. Just thinking *witch hunting tins* |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by fyneguy: 4:01am On Jan 04, 2014 |
Raggedy_Ann:Administrative caution for an inflated contract? Ok Nigerians, let's continue to encourage corruption! |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by LeSaint(m): 4:58am On Jan 04, 2014 |
Obynowhite: Something is not just adding up 1st sanusi accused the government of fraud to the tune of over $49 billion and in less than two weeks he hurriedly recanted his statement after been pressured by powers from above now in less than a month the president is querying him. Let us see as the story unfolds. Just thinking *witch hunting tins* Thought I read somewhere in that post that the query was issued and replied to in May. Or are u so much in a hurry to comment that u don't finish reading the post? 3 Likes |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by ckkris: 7:05am On Jan 04, 2014 |
Let them check very well to see whether Sanusi is the one sponsoring Boko Haram. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Igwe9(m): 7:59am On Jan 04, 2014 |
If nothing comes out of this then Gej should kiss my vote and that of my followers goodby come 2015. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by sawyer89: 8:23am On Jan 04, 2014 |
Numerous dirty secrets will certainly be uncovered when the Mallam finish his tenure. Soludo's will be like a drop in an ocean compare to Sanusi's. I have never for once trust his holier-than-thou-attitude though. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by emmalexabl(m): 8:50am On Jan 04, 2014 |
The hunter has become the hunted...... |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by victorjam(m): 9:01am On Jan 04, 2014 |
The post said sanusi gave a party N1BN to open nation wide offices.. Hope it is nt d party am tinkin it is? 2 Likes |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by hardywaltz(m): 9:08am On Jan 04, 2014 |
This GEJ's government is just a huge joke! |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by ckkris: 9:16am On Jan 04, 2014 |
victor jam: The post said sanusi gave a party N1BN to open nation wide offices.. Hope it is nt d party am tinkin it is? It is very likely the party you're thinking it is. That party wants power by all means, even the dogs and the baboons must be BLOODIED. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by superstar1(m): 9:18am On Jan 04, 2014 |
Jonathan cannot do anything to him. As in Nadal. If the ones that were caught in the act by the world, are being shielded by the most corrupt govt ever in this country, where does he now have the power to prosecute rumours apart from setting up committee again. The crowned prince of Kano, go and sleep with fresh air blowing on your head jarey. Jonathan is a toothless bulldog. Everybody is stealing under his nose. If SLS did same, he is just flowing with the new fresh air of corruption, so he cannot do anything to him. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by FOLYKAZE(m): 9:33am On Jan 04, 2014 |
The witch-hunt activated. Cluelessness by retar.deen. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by strangest(m): 9:33am On Jan 04, 2014 |
Morale of the story: if you live in glass house don't throw stones.. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Nobody: 9:48am On Jan 04, 2014 |
LeSaint:U re right. This post must be for 2012 CBN fiscal year audited on May 2013. According to the post, this audited report/observation was not sign, meaning it didnt emanate from the auditor who audited the account. As commented in d post by an ICAN member, the report is worthless without the signature of the auditor. The report content itself gave evidences of it worthless, but I'll not say such discrepancy were not noted in d auditing process due to inadequate info/source doc of which d auditing team will request for clarifications and if given satisfactory explanations will give the financial statement a clean audited report with the AUDITOR SIGNATURE to be published in govt gazette. CBN was given a "clean" signed audited report for 2012 financial year. May we shld also advocate for proper auditing of d Presidency. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Amanwulu1(m): 11:05am On Jan 04, 2014 |
Ok! |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Brimmie(m): 11:46am On Jan 04, 2014 |
Fresh Hair |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Longeria(m): 12:48pm On Jan 04, 2014 |
victor jam: The post said sanusi gave a party N1BN to open nation wide offices.. Hope it is nt d party am tinkin it is?You're right, the donation went to the HYPOCRITES. |
Re: Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN by Clerverly: 12:58pm On Jan 04, 2014 |
This is a very Old News @ op. See below, how Sanusi dismissed the retardeen then in August.
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