Stats: 3,189,613 members, 7,937,776 topics. Date: Monday, 02 September 2024 at 11:46 AM |
Nairaland Forum / Nairaland / General / Politics / Sanusi: N197bn Went Missing In Jonathan's Administration Every Month (27093 Views)
Throwback Pictures Of Workers Day During Jonathan Administration / Soldier Who Went Missing In Borno For Over A Year Has Been Confirmed Dead. PICS / AirForce Reconfigures Aircrafts Bought By Jonathan's Administration. Photos (2) (3) (4)
(1) (2) (3) (4) (5) (6) (Reply) (Go Down)
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by enginer050(m): 11:09am On Dec 07, 2015 |
i begin to enjoi dis story pls season 2 end time polticials |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by TheGoodJoe(m): 11:09am On Dec 07, 2015 |
nkowaputa: Blackmail ke. Dokpesi's son has come out to say they recieved billions of Naira for election adverts and you are talking Blackmail. 1 Like |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by arrhenius15(m): 11:12am On Dec 07, 2015 |
My 1 and only question for Sanusi: Why on earth are you just telling us now? , that's like campaigning after election. 1 Like |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by nkowaputa(m): 11:12am On Dec 07, 2015 |
blacksta: I really think Nigeria future is blurry with people like you everywhere. |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by anonimi: 11:14am On Dec 07, 2015 |
Really ![]() Does that include what Sanusi also STOLE while he was governor at CBN and got Vacant Pastor (VP) Osinbajo to buy court protection against probe before Sanusi started singing of missing $50 billion that became $20 billion? What does he take us for? 200 million mumus, certainly! barcanista: [size=14pt]The FRCN’s report on Sanusi[/size] [img]https://www.nairaland.com/download/660265[/img] The decision to suspend the Central Bank of Nigeria Governor, Sanusi Lamido was based on a report of the Financial Reporting Council of Nigeria dated June 7, 2013. The report was made after a review of Sanusi’s response to the query issued to him by the President over the apex bank’s financial statement of 2012. His response was dated May 20, 2013. According to a copy of the report obtained by our correspondent on Thursday, the council indicates that the explanation provided by the suspended CBN governor is “a clear display of incompetence, nonchalance, fraud, wastefulness, and abuse of due process and deliberate efforts to misrepresent facts on the part of the leadership of the CBN.” The council advised the President to exercise the powers conferred on him by Section 11(2)(f) of the CBN Act 2007 or invoke Section 11(2)(c) of the said Act “and cause the governor and the deputy governors to cease from holding office in the CBN.” The report read: The particulars of the infractions against Sanusi are: Persistent refusal and/or negligence to comply with the Public Procurement Act in the procurement practices of the Central Bank of Nigeria. (A) By virtue of Section 15 (1)(a) of the Public Procurement Act, the provisions of the Act are expected to comply to ‘all procurement of goods, works and services carried out by the Federal Government of Nigeria and all procurement entities.’ This definition clearly includes the Central Bank of Nigeria. (B) It is however regrettable that the Central Bank of Nigeria, under his leadership, has refused and/or neglected to comply with the provisions of the Public Procurement Act (PPA). You will recall that one of the primary reasons for the enactment of the PPA was the need to promote transparency, competitiveness, cost of effectiveness and professionalism in the public sector procurement system. More from: http://www.punchng.com/news/the-frcns-report-on-sanusi/ [size=14pt]Sanusi/CBN/FRCN indictment report continued[/size] (C) Available information indicates that the Central Bank has over the years engaged in procurement of goods, works and services worth billions of Naira each year without complying with the express provisions of the PPA. (D) By deliberately refusing to be bound by the provisions of the Act, the CBN has not only decided to act in an unlawful manner, but has also persisted in promoting a governance regime characterised by financial recklessness, waste and impunity, as demonstrated by the contents of its 2012 Financial Statements. Unlawful expenditure by the Central Bank of Nigeria on ‘Intervention Projects’ across the country (A) the unacceptable level of financial recklessness displayed by the leadership of the Central Bank of Nigeria is typified by the execution of ‘Intervention Projects’ across the country. From available information, the bank has either executed or is currently executing about 63 such projects across the country and has committed over N163billion on them. (B) it is inexcusable and patently unlawful for any agency of government to deploy huge sums of money as the CBN has done in this case, without appropriation and outside CBN’s statutory mandate. It is trite that the expenditure of public funds by any organ of government must be based on clear legal mandates, prudent costing and overriding national interest. Financial infractions and acts of financial recklessness committed by the Central Bank as reflected in its audited financial statements of 2012 (A) pursuant to Section 50 of the CBN Act 2007, a copy of the audited financial statements of the CBN for the year ended 31st December 2012 was sent to Mr. President. Based on the issues raised in the financial statement, a reaction was requested from you to enable a proper appreciation of the nation’s economic outlook. (B) the response to this query was further referred to the Financial Reporting Council of Nigeria. The review by the council, rather than allay the fears of government, further confirmed concern bout the untidy manner in which you have generally conducted the operations of the CBN. Some of the salient observations arising from the review are; (A) in a most ironical manner, it has become obvious that the CBN is not able to prepare its financial statements using applicable International Financial Reporting Standards (IFFS) whereas Deposit Money Banks that the CBN is supervising have complied with this national requirement since 2012. Undoubtedly, this laxity on the part of our apex bank, apart from calling to question its capacity for proper corporate governance, is capable of sending wrong signals to both domestic and international investors on the state of the Nigerian economy. (B) the provisions of the Memorandum of Understanding (MOU) signed by the CBN and other Deposit Money Banks on Banking Resolution Sinking Fund have been breached in a material manner. For example, a Board of Trustees (BOT) to manage the Fund has not been constituted since 2010 when it was established. The CBN has however continued to utilise the Fund for certain operations without approval of the said BOT. (C) contrary to section 34 (b) of the CBN Act 2007 which provides that the CBN shall not, except as provided in Section 31 of the Act, inter alia, purchase the shares of any corporation of company, unless an entity set up by the approval or authority of the Federal Government,m CBN in 2010, acquired 7% shares of International Islamic Management Corporation of Malaysia to the tune of N0.743 billion. This transaction was neither brought to Mr. President’s attention nor was a board approval obtained before it was entered into. (D) the CBN has failed or refused to implement the provisions of the Personal Income Tax (Amendment) Act 2007. Accordingly the Pay-As-You-Earn (PAYE) deductions of its staff are still being computed in accordance with the defunct Personal Income Tax Act 2004, thus effectively assisting its staff to evade tax despite the generous wage package in the CBN, relative to other sectors of the economy. (E) the CBN had an additional brought forward to General Reserve Fund of N16.031bn in 2012 but proceeded on a boy age of indefensible expenses in 2012 characterised by inexplicable increases in some heads of expenditure during the year. Examples include: 1. The bank spent N3.086bn on “promotional activities” in 2012 (up from N1.084bn in 2011). The bank spent this sum even when it is not in competition with any other institution in Nigeria; 2. The CBN claimed to have expended N20.202bn on ‘Legal and Professional Fees’ in 2011 beyond all reasonable standards of prudence and accountability; 3. Between expenses on ‘Private Guards’ and ‘Lunch for Policemen’, the CBN claimed to have spent N1.257 billion in 2012; 4. While Section 6(3)(c) of the CBN Act 2007 provides that the board of the CBN is to make recommendations to Mr. President on the rate of renumeration to Auditors, the bank has consistently observed this provision in breach and even went to the extent of changing one of the Joint External Auditors without notifying the office of the President. 5. In the explanations offered by the CBN pursuant to presidential directives, it offered a breakdown of ‘Currency Issue Expenses’ for 2011 and 2012. Interestingly, it claimed to have paid N38.233bn to the Nigerian Security Printing and Minting. Company Limited (NSPMC) in 2011 for ‘Printing of Banknotes.’ Paradoxically however, in the same 2011, NSPMC reported a total turnover of N29.370bn for all its transactions with all clients (including the CBN). 6. It is significant to note that the external audit revealed balances of sundry foreign currencies without physical stock of foreign currencies in the CBN Head Office. Questionable write-off of N40bn loans of a bank The above issues are only a few of the infractions highlighted by the review and which point to the gross incompetence and recklessness which characterised the operations of the CBN in the period under review. However, the CBN also claimed that it paid Air Charter, such as payments to Emirate Airline (N0.511bn), Wing Airline (N0.425bn) and Associated Airline (N1.025bn) to distribute currency by air nationwide. Emirate Airline does not fly local charter in Nigeria, Wing Airline is not registered with Nigeria Civil Aviation Authority and Associated Airline does not have a billion turnover for 2011 because upon enquiry, the management claimed that they have no financial statements and have not had any significant operations for the past two years that will warrant preparation of financial statements. The breakdown also include “Currency Issue Expenses” of N1.158bn and Sundry Currency charges of N1.678bn under “Currency Issue Expenses.” As they are in 2011 so are similar expenses in 2012. These are difficult to understand. Other areas of fraudulent activities include 1. Facility Management N7.034bn in 2012 (N5.751bn in 2011. 2. Foreign Bank accounts that have been closed offshore were still operational in the General Ledger for over six months after they have been confirmed as closed accounts by the offshore banks. 3. The “Know Your Customer” policy is not properly followed by the CBN to the extent that the CBN has unknown customer with account balance of N1.423bn since 2008. The CBN claim that it is taking steps to obtain the required details regarding the address of the customer. Wastefulness 1. Training and travel expenses N9.24bn in 2012 up from N7.65bn in 2011. 2. Expenses on “ATM offsite policy change” came to N1.045bn. 3. Expenses on “Non Interest Banking” N1.359bn in 2012 up from N0.977bn in 2011. The CBN is still very heavy on expenses on “Project Eagles” spending N0.606bn in 2012 up from N63m in 2011. Expense on newspapers, books and periodicals (excluding CBN’s publications) is N1.678 billion in 2012 up from N1.670bn in 2011, From: http://www.punchng.com/news/the-frcns-report-on-sanusi/ 1 Like 2 Shares |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by BY1434(m): 11:15am On Dec 07, 2015 |
VampireeM: So to you dumbo,Sanusi is a politician? 1 Like |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by oluwazino(m): 11:17am On Dec 07, 2015 |
criminalmindz:Chill na.... How many dey wan fight at the same time..... dose pple na grand fada 4 d game na step by step we would get der no worri dey no fit run unless dey die |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by TheGoodJoe(m): 11:17am On Dec 07, 2015 |
arrhenius15: I watched Emir Sanusi's interview with Amanpour of CNN. He said he would not talk bad publicly about GEJ because he did not want to sound politicized. I think this is the best time for him to talk. |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by DeRay98(m): 11:18am On Dec 07, 2015 |
ahckmedkosy: Ignorance and arrogance do not spare their victims by allowing them expose their ignorance. Was it not because Sanusi alerted Jonathan of missing money that Jonathan removed him from office? Olo do like you. |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by giftedben: 11:18am On Dec 07, 2015 |
swtdrms: Are you talking with sense or without sense. Sanusi is a whistle blower without concrete Evidence. If truly he was sacked because he raised alarm about the corrupt practices happening in jonathans government then i most say he was also one of the beneficiary. He could have simply submitted his resignation letter detailing that he was wrongfully forced to give up his position because he refused to forfeit his rights as an employee. He can fool you but Not me. |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by Jesusloveyou: 11:19am On Dec 07, 2015 |
ba7man:d figure is too small to steal by gej, madueke, NOI, dasuki etc that wil be $36b in 3yrs, is that not small for them to steal? D money that is still missing is more than 20tr naira in 6yrs of gej regime 2 Likes |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by BY1434(m): 11:19am On Dec 07, 2015 |
arrhenius15: He has been saying it since,seems yoou are incoma then |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by anonimi: 11:20am On Dec 07, 2015 |
rhymestech: Evidence was brought to court and Sanusi started screaming till Vacant pastor (VP) Osinbajo arranged court protection for him then he (Sanusi) started blabbing on missing NNPC funds to the delight of his empty-headed fellow citizens. Did you not know all this ![]() ![]() |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by TheGoodJoe(m): 11:21am On Dec 07, 2015 |
anonimi: Emir Sanusi made a full report showing that the FRCN report was baseless. It was just an illegal tact to remove him out of CBN by Goodluck and his Forty Thieves. Unlike Goodluck and his Forty thieves whose PWC report indicted them of corruption in a large scale. |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by omo17(m): 11:22am On Dec 07, 2015 |
emmahoney: God bless you for this write up, am always sad whenever i visit nairaland and i see youth defending this soo called politicians, all in the name of he/she is from my region or we belong to the same political party, the same politicians don't even care about us, yet we come online to defend them and attack ourselves instead of attacking them, there children leave outside the country leaving large with our wealth yet we refuses to face the reality, we the youth and the masses as a whole are at the receiving end of the corrupt practices, we expend soo much energy to defend them online, at the relaxation spot, even in school just for God knw reason, and after that we go back to our various houses complaining about infrastructural decay in the country, I wish children of the politicians can come and visit nairaland, am sure they will just be laughing at us. No wonder Nigeria is yet to be free from corruption, this leader know that no matter how bad there performance is, some people will still defend and support them. Honestly we need to change our approach if we want a better Nigeria irrespective of the government in power, this people are not paying you to defend them nao. 2 Likes 1 Share |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by chernest2002: 11:24am On Dec 07, 2015 |
So Sanusi how much did you stole? We know you have basket mouth but it does not reach that side. |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by TheGoodJoe(m): 11:25am On Dec 07, 2015 |
giftedben: The CBN is not part of GEJ's government. So Emir Sanusi staying there does not make him a beneficiary of GEJ's government. His whistle blowing was one of the things that exposed the massive corruption under GEJ. This led to the audit of NNPC by PWC and it exposed the massove corruption of GEJ. |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by Eleniyan15: 11:25am On Dec 07, 2015 |
End Time who no come no go know GEJ,Mama P,Alison, Sanusi.... all of the nah bird of d xame feather living in this fvkiing country Don't blame GEJ let blame everyone including we ourselves corruption everywhere, charity begins @ Ome. me myself am corrupt This country can't move forward @ ol it high time we stop all this POO if you want to steal, thief with sense and let we the poor enjoy from this not you taking the cash abroad to develop the developed countries. APC,PDP....ALL of THEM CRIMINAL MONEY NAH SPIRIT IF YOU GET THERE YOU WILL DO MORE THAN THAT ALL THIS LEADER WE HAVE #FVKINGKLEPTO |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by omogin(f): 11:26am On Dec 07, 2015 |
Fulani propagandist |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by TheGoodJoe(m): 11:29am On Dec 07, 2015 |
omo17: I am sure the children of these thieving politicians visit nairaland and they laugh repeatedly. Imagine people are angry that Buhari is fighting for their stolen commonwealth. They are angry that Emir Sanusi cried out that some greedy politicians are looting the Nation to drive Nigeria to poverty. I wonder how Nigerian youths lost their senses of reasoning. Do they like the Situation of the country. The massive looting and converting the looted funds to dollars drove this country towards poverty. 1 Like |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by Nobody: 11:30am On Dec 07, 2015 |
When ever dullardkpo is finding things dificult, his people will go on media compaign about what was stolen or not. At the end of the day, no body is taken to court, no body is convicted of any crime save the media conviction. Buhari is so helpless that he can not pay salaries but his allowee for his Junketing is intact |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by Akpan107(m): 11:31am On Dec 07, 2015 |
xpac01:it maybe a little more than that... i mean the way things are going now. like a trillion dollars is going missing everyday. i'm tempted to declear GEJ's government has the most decent since the start of the so called one Nigeria. |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by all4gud(m): 11:31am On Dec 07, 2015 |
onomeasike: Great mathematician. |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by emmykk(m): 11:31am On Dec 07, 2015 |
blacksta:buhari FG was out the other day to clear shit Mini-buhari(elrufia) claim that billions were use by Gej to conduct independemce day celebration. FG said it was not true,soon another official will appologies for this,my take is that as far as Ngozi iweala was there at that time money to that tune cannot lose. Nobody is yet to invite the woman for interrogating and the kano emir who was dumb while his "claim" went on |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by Turboking(m): 11:32am On Dec 07, 2015 |
AdaNri1:let any accused person dare to sue...that's an invitation for more revelations...i bet u more can of worm will be opened |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by richeso: 11:32am On Dec 07, 2015 |
We still dey do Election ? |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by Holak: 11:34am On Dec 07, 2015 |
rhymestech: Which evidence does Sanusi have on the figure he is bandying about? |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by Jesusloveyou: 11:35am On Dec 07, 2015 |
arrhenius15:if he had speak during campaign, u would have take him serious. U wil think he is lying, as u are thinking now 1 Like |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by emmahoney(m): 11:42am On Dec 07, 2015 |
omo17:All you said are right, just that our people are just sick upstairs. We should all let these bunch of egocentric leaders know that they are the problems of this nation. All hands must be on deck for better Nigeria. What is my business with people who are stealing our commonwealth to better their lives, leaving the masses in abject poverty? Even the educated illiterate would still be defending their kinsmen. What would the stack illiterates be doing then? Finally, Nigeria can only be great once again if we all start condemning our selfish leaders irrespective of their ethnicity. 2 Likes |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by leanalyst: 11:42am On Dec 07, 2015 |
Do these people think before coming out to talk? They indict themselves with their own mouth. He was CBN governor under this same administration and can't say he didn't partake in some of these amounts and doesn't have his own dirty skeletons. He is Emir now and APC sympathizer and now feels bullet proof. 1 Like |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by Orikinla(m): 11:42am On Dec 07, 2015 |
rhymestech:. The tragedy is he prefers to live in denial instead of repentance. The first great opportunity for the Niger Delta to have an executive President of Nigeria and they bastardized it with impunity. |
Re: Sanusi: N197bn Went Missing In Jonathan's Administration Every Month by tete7000(m): 11:43am On Dec 07, 2015 |
rhymestech: I beg leave Christianity out of it, many people of other faiths have stolen worse than this. Besides, why are you people quick to believe anything? I don't know his many times Sanusi has changed the figure of money stolen under Jonathan. Do you believe someone who keeps changing figures now and then? |
(1) (2) (3) (4) (5) (6) (Reply)
Police Clash With IPOB Members In Ebonyi / Leah Sharibu Not Dead — Reno Omokri / EndSARS: Nigerian Army Disbands Legal Team, Pulls Out Of Lagos Judicial Panel
Viewing this topic: 1 guest(s)
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 117 |