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Buhari: I will probe ‘missing $20 billion’

Buhari: I will probe ‘missing $20 billion’
April 26
19:58 2015

Muhammadu Buhari, Nigeria’s president-elect, says he intends to probe the allegation by Sanusi Lamido, immediate past governor of the Central Bank of Nigeria (CBN), that $20 billion was missing from the federation account.

Addressing members of the All Progressives Congress (APC) who visited him at the headquarters of his party in Abuja on Sunday, Buhari accused the outgoing government of not handling the issue in the appropriate manner.

“Imagine a situation where the former CBN governor who raised an issue of missing billions of money, not in naira but in dollars, the sum of $20 billion,” he said in Hausa language.

“Instead of investigating to know whether it was true that the money was missing or not, they simply found a reason to remove him. So these are the issues we are talking about. Instead of investigating it, they sacked him. And God in his infinite mercy made him the emir of Kano.


“In any case, that is what he wanted. And since this was documented, the new administration will take a look at it. I heard some people have started returning money, but I will not believe it until I go and see for myself.”

Sanusi, who recently paid a courtesy call on Buhari in order to congratulate him on his victory in the March 28 presidential election, had raised fresh concern over the issue during an interview with Christiane Amanpour, CNN chief international  correspondent.

“I raised a number of issues that I think have not yet been discussed and addressed sufficiently,” the revered monarch had said.


“I think these issues reflect unconstitutional and illegal withholding of revenues from the federation account.

“My position in the Central Bank was that there was always this gap of $20 billion after reconciliation between what the NNPC exported and what it deposited into the federation account.

“After reconciliation, it could amount to $14 billion or $12 billion. The petroleum sector is a major drain on the resources of the country and this has to be looked at

“It must stop. I think those issues need to be addressed and until we address them and begin to close all the loopholes in government revenues, we are going to continue to create opportunity for the destruction of the economy.”


The allegation raised by Sanusi led to his unceremonious exit from office about five months to the end of his tenure, as he was suspended on allegations of financial recklessness and misconduct.

The government subsequently contracted Pricewaterhousecoopers to audit NNPC account and the firm submitted a report that required the corporation to remit $1.48bn to the federation account.


    ekunDAYO ADENIRAN April 26, 22:26

    It’s Not Yet Uhuru for Dazzling Diezeani! She will still have to shed illuminating light on he oily,murky mess she’s leaving behind! At this stage no nation should extend the red-carpet to her by granting her an asylum! Judgement Day has come. Thanks a trillion dollars, Sai Baba!

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  2. Femi
    Femi April 27, 06:04

    Thank you my dear President-Elect.
    Two other main scandals perpetrated by the Jonathan administration must not be left unprobed.
    These are fuel subsidy scam and the Pension fund scam. The figures are mind boggling. The collaborators no matter what party they now belong should not be left inpunished

    Reply to this comment
  3. deangel
    deangel April 27, 06:16

    “The way up, is down.” No building can stand on a bad foundation. There is truly also,no shortcut to climbing a palm tree but from the bottom. We shall go nowhere if we don’t fix our flat tyres and chennel the vehicle of socio-economic revival on course

    Reply to this comment
  4. odz
    odz April 27, 06:18

    Buhari had better watch it with his uncouth language. In the context of his quote, did the money have to be in US dollars before you probe? Secondly, he was quoted to have spoken in Hausa? who was he speaking to? Was he speaking to Nigerians or his Hausa/Fulani brothers? He seems to be pained by the sack of Sanusi? I think Gen. Buhari is wearing his ethnic eyewear to insinuate that Sanusi’s sack were based on his allegation of the missing 20billion USD, When he is sworn in as President on the 29th of May let him accept the insubordination of his Central Bank Governor. We urge you to probe anything you so wish. But our doubts remain about your anti corruption stand because you think by standing straight, everyone should stand straight. GMB, you have not said anything about how you want to fight corruption? is it only at the Federal Cabinet level you want to rid of corruption? I am foreseeing a scenario for your government and it is that the politicians around you will engage your mind with the corruption war and and while you are distracted they’d be stealing!

    I would want you GMB to set precedence in probing and jailing corrupt people in Nigeria. You have virtually and always lampooned the PDP government of 16 years for the state of our nation. But my worries are that while you lampoon the PDP, you seem to be only looking at the last 6 years? Please kindly probe the administration of OBJ, Yaradua, GEJ and jail anyone found culpable. But if your probe is just for our ears only and to demonize perceived political enemies without commensurate punishments, you had better not waste our time.

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    • odiuko
      odiuko April 27, 08:07

      there is sense in ur point of view. for GMB is surrounded by dubouse and currupted politicians whom are set out to use his office to fight their political opponent while they themselves become more corrupt than ever.

      Reply to this comment
    • Frankly
      Frankly April 27, 09:17

      This is good talk by Odz. OBJ returned stolen money held for how long? Why now? Is this not enough to jail him without trial as evidence is already before us.So GMB must be open minded and comprehensive in his intended probibg.

      Reply to this comment
    • Kaystol
      Kaystol April 27, 10:29

      Dear ODZ,

      GMB made the statement that the money is in USD and not NGN to emphasise the fact that the amount is mindboggling; we all know that US$20B is far greater than NGN20b.

      Please also note that he spoke on an Hausa programme, so your insinuation of ethicity against him is unfunded. The fact that his primary audience were hausas is not enough to accuse the gentleman of sectarianism.

      With regards to the sack of Sanusi,as you saying that his sack is not connected to his whistle blowing about the missing fund? Every right thinking person would think so.

      Many people want him to just move on and forget about probing corrupt person. I think doing so is tantamount to overlooking atrocities committed by this people against Nigeria – You and I and the generations unborn. Moreover, will it not set a bad precedence that may inadvertently encourage future would-be corrupt persons. Afterall, they can get away with financial treason as it were and no one would ask them in the name of moving forward.

      Please think twice about your disposition to importnat issues such as these before making unfounded allegations/insinuations that one can only expect from those who benefitted from the impinuities.

      Reply to this comment
  5. meme
    meme April 27, 07:47

    I just hope sai baba woulD work as promised. We’ve had past leaders who had promised but failed nigerians. I know we all want to see a changed nigeria deviod of corruption and our hope is hanging on sai baba. Please do want is right and reclaim all our looted and stolen fund and channel it into the appropriate sectors and not pockets. If people needto be jailed,killed or hanged, I know nigerians would love to see the right punishment meted out to does who are bent on dragging aand draining our economy.

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  6. Krnnyboy
    Krnnyboy April 27, 08:46

    Corruption is Nigeria’s No. 1 danger. And corruption is a subset of that larger problem called INDISCIPLINE. Sanusi’s dolling out federal funds to his choice ethno-religious organizations and groups is also act of corruption and indiscipline. His insulting attitude to his GEJ his boss was also an act of indiscipline. TRUTH AND INDISCIPLINE IN NIGERIA HAVE NO TRIBAL, POLITICAL OR RELIGIOUS COLORATION; THEY ARE UNIVERSAL TO ALL SEGMENTS OF THE COUNTRY. To address any aspect of the problems, GMB has to take a comprehensive and balanced approach. He will pose an even greater danger to Nigeria if GMB is selective, sectional, ethnocentric or imbalanced in his approach. He was always seen as the only former Head of State who did not loot the treasury. It will befit and behoove him to also audit the records of all his precesoors, including Babangida, Abacha, Abubakar, Obasanjo, and GEJ. It will be very heavy lifting, but that is what Nigerians voted for.

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  7. ata
    ata April 27, 13:03

    Buhari should also re-call Dezeani to account for the N10billion she spent on private jets and other frivolous travels all over the world while Stella Oduah should also come and account for the bullet proof cars purchase.

    Reply to this comment
  8. Monic
    Monic April 27, 15:45

    This is very heartening dear President Elect. You are not disappointing me at all. Go on so on!

    Reply to this comment
  9. ecowasia
    ecowasia April 28, 22:38

    Your comment..d change we are rili tokin abt is here…ride on sai anthony buhari

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