Clerverly:


Not only going to Jail! The money must be recovered or they should be publicly executed, using anti aircraft tanks! Rogues!

Where is That Norhern Korea's Leader, when you need him?

woodcook:
My dear I suppose you should reread what she said again. FGN according to her will borrow money to pay salaries which forms part of recurrent expenditure not to pay backlog. As per states am sure you read what GMB told Okorocha when the issue of bail out came up.

phyllosilicate:
#BringBackOurMoney.

philips70:


My dear I think the federal government should quit shifting blames of the failure of our economy to states. If all is well with the FG and some few states are just suffering because of mismanagement then we will understand. I am not an APC member, I do not worship anyone and will be happy to see anyone who have misused state power to enrich himself in jail be it in APC or PDP. Yet it is common knowledge the PDP led FG have driven and crashed our financial Maybach and Ogbeni Aregbesola who many scream his name here is not the cause. If APC led FG does the same in the next 4, 8, 16 years we will all sing the same song.

Sweetguy25:
Sanusi is an ìdiot

philips70:
If nobody goes to jail on account of this missing monies that will be the end of Buhari and APC in 2019. The biggest reason they will be booted out.

Kachi188:


Jonathan Queries Sanusi Over 22 Fraudulent Act Discovered At CBN
04 January 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 [size=15pt]queried extravagant expenditure by the apex bank for which documents were not made available for verification.[/size]

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 and Borno 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/

anonimi:



Does that include sanusi's tenure at CBN or he is excluded by Misitah Integrity Buhari of selective persecution

themodernman:


The annoying thing is dat those monies recovered will still be embezzled by this new government, what has happened to all the Abacha loots that keep flowing in They've all gone into Ota & Atiku's farms! Nigeria aint a Nation but a Country where everyone comes to chop as long as he has the audacity & power to....

I really pray I'm wrong with this government, na until oil finish for this country b4 we go know wassup. I just pray I'm outta here b4 den...make I go dust my books o jarey!

kentosman:
Transformation AGENDA. I still get surprised when some MURUTUM-IMPARFUMS come out to justify the way this present Government ran the nation's economy aground.
Jonah, why you allow these two froggy eyed mucheches mesmerize you?

I said it then that there is no smoke without fire... Now Sanusi is vindicated

chernest2002:
Sanusi is just forming troubles as he is used to,he is now emir and auditor,all Nigeria leaders are either ignorant of their jobs or criminals,from balewa/azikiwe to gej/sambo.

mbulela:
@naijababe, come and see another exposition on the goats and yam. The yam eaters will never cease to amaze mallam. We need a lion to address this set of goats before another set of goats are assigned to the barn. No other option.

ascent:


What a brilliant logical comment! Because someone is not from a particular part of the country he has no right to question the thief from another part of the country simply because there are thieves in his own part of the country. And you went to school, I presume? Wake up! Whatever anyone or any tribe says things cant continue as usual anymore. This country, or whatever you call it, needs to be salvaged from your mentors and people of your orientation. If you don't want to be part of Nigeria, then do something about it, instead of insulting those who want to do something about the rot you all created.

Ikengawo:


Nigerian 2013 Annual Budget in USD- Largest budget Nigeria has ever had
$31,168,750,000
http://allafrica.com/stories/201307260620.html


Amount Sanusi alleges was stole from the coffers of 1 ministry (NNPC) within the entire federal government
$49.8b Missing Oil Money
http://premiumtimesng.com/news/151445-%E2%80%AAmissing-%E2%80%AAn8-trillion-nnpc-accuses-sanusi-playing-politics.html


I have renounced all respect for this man unless he appologized for his failed attempt to deceive Nigerians. This means that everything from the paychecks of every in the government including the whole senate and president, to recurrent expenditures were all stolen by the NNPC. and lo and behold the person he's making the accusation towards

naijaking1:
A good example:

XYZ company has a total budget of $38Billion. The chief financial officer alleges that the CEO was responsible for loosing $50Billion from the same fiscal year. And we have some people applauding the financial officer for being so smart He simply cant even add and subtract!

Jesusloveyou:
Interesting, for d period of 19months,not even d 5yr of gej, so in 5yrs,it wil add up to $50bilion. d total money stole for 5yrs in all sector of d economy is enof to develop dis country to be like paris.

tomakint:
I don't think the problem of an average black man is his inability to read but rather his inability to comprehend what he is reading.....a simple case is this scenario where a budget of $38 billion in a fiscal year suddenly gave birth to a $49 billion
'missing funds'! The question now is, how come?

taharqa:
@e-Gorilla, sorri e-Guerilla, the money the Commissioner of Ebonyi was talking about has NOTHING to do with d phantom '$50bn'. The Commissioner never made ANY link to it nor was it what he was refering to; that 'link' was made in d headline by Shameless PT, from whom this blogger-Newspaper. NNPC has been paying a particular sum to FAAC every month for sm time now, I bliv about #7billion each month; a sum they also paid in dat last FAAC meeting 3 days ago.

taharqa: @e-Gorilla, sorri e-Guerilla, the money the Commissioner of Ebonyi was talking about has NOTHING to do with d phantom '$50bn'. The Commissioner never made ANY link to it nor was it what he was refering to; that 'link' was made in d headline by Shameless PT, from whom this blogger-Newspaper. NNPC has been paying a particular sum to FAAC every month for sm time now, I bliv about #7billion each month; a sum they also paid in dat last FAAC meeting 3 days ago.

“Finally, your Excellency, we would like to report that NNPC has failed to keep up with payments of its levies under Nigerian Export Supervision Scheme (NESS), in line with this law, and currently owes the Federal Government N22 billion.

“Your Excellency, it is my respectful view that a place to begin is to insist on NNPC to account fully for all proceeds that were diverted away from its accounts with the CBN and the Federation Account. There are also other lines of inquiry which your Excellency may wish to authorise and pursue.

YoursGEJ:
I trust he has furnished Buhari with the specific details of his claims. We shall see from May 29 whether NNPC owns Nigeria or Nigeria owns NNPC.

winniz:
At Mynd 44

GEJ by March should give him a dismissal letter, If he refuses to resign he should apply force by Locking up his Office and getting him arrested as well, it was GEJ that employed him so if his services are no longer needed he can be sacked as well, Sanusi has always been incompetent to be the CBN Governor for crying out Loud, all his banking policies has always be useless that Mallam should just go.

owobokiri:
If he is put under house arrest for being a big threat not just to the economy but the state with all his uncouth outbursts (and you know he did reaa damage with those open letters) and his deputy told to take over till june, what will your likes do other than to go to premium times and sahara reporters to moan and whine as usual? ACN memebers of APC would even abandon their suport for him pronto since his deputy might be from the sw as clannish traits take over. His fulani royal heritage is getting into his small brain but who cares apart from those who want to? Two sitting sultans were disgraced in this country and nothing happened. Before then, tales have it that the sun wont set if you do as much as look into the face of a sultan.. Go figure. Blame GEJ for his calm approach otherwise this guy would have gone by now if a tougher character is at the helm..

bakila:
Very unfortunate that payment of salary is an issue for the federal government.