Former President Goodluck Jonathan has said he did not sack Emir of Kano, Mohammed Sanusi II, as Governor of the Central Bank of Nigeria in 2013 for whistleblowing that $48.9 billion was missing from the government coffers.
Jonathan said this at the launch of a book “Public Policy and Agent Interests: Perspectives from the Emerging World” in Abuja on Thursday edited by former Finance Minister, Shamsuddeen Usman.
Jonathan was reacting to a contribution by the Emir of Kano in the book that was being launched.
The former president said it was not true that such amount of money was missing.
He said the former CBN Governor was only suspended and would have been recalled.
Jonathan said: “I do not agree completely with some of the issues raised by one of the contributors. But I don’t intend to join issues because he is our royal father. But because I have the opportunity to be here on some issues on the one he raised that he was sacked because he blew a whistle that the federal government lost $49.8 billon is not quite correct.
“He was not sacked but suspended because the Financial Reporting Council queried the expenditure of CBN because it is the FRC that has the power to audit the CBN not the auditor general. And there were serious infractions that needed to be looked at. That was the reason. Somehow the time was short but before we finished, his tenure elapsed. Probably he would have been called back.
“On the issue of $49.8 billion, till today I am not convinced that the FG lost such money. Let me tell you about a personal experience. The African Presidents and European Presidents we had a meeting in Belgium and during those meetings we had bilateral talks and the Chancellor of Germany then Angela Merkel requested that we should have bilateral meetings and I went there with some of my ministers and even before I sat down, the German Chancellor said they heard that $49.8 is missing that what is happening. That was what she used to welcome the guests.
“I smiled and said, ‘I said Madam Chancellor, the economy of Germany is strong, so if you lose $50 billion, you might not notice it but if Nigeria loses $50 billion dollars, Federal government won’t even be able to pay salaries. Then she said even in Germany $50 billion is a lot of money and she didn’t ask further question. And of course, that year our budget was $31.6 billion dollars.
“So for a country that has a budget of $31.6 billion dollars to lose $50 billion and salaries were paid and nobody felt anything, then the researchers that read this book should further research.
“So when our revered royal father came up with figures that first $49.8 billon, later
$20 billion, later $12 billion so I don’t even know the correct figure. Immediately that thing happened, we engaged PwC which is one of the best financial gurus to do a forensic audit because nobody can sit down and say 50 billion dollars was lost and nobody knew anything about it.
“The report they came up with was that there is $1.48 billion that they didn’t give a proper account and that NNPC should send the money to the federation account. They didn’t say we lost any 12 billion or 20 billion or 50 billion.
“Makarfi is still alive. He was the chairman of the Senate finance committee. They used external professional auditors to look into the matter and they didn’t find any 12 billion or 20 billion or 50 billion. So I am pleading that when we are giving accounts of our stewardship, if we have to go into some of these areas, it is good to mention so that someone reading the book won’t go with the impression that 50 billion got lost during Jonathan’s administration. I didn’t steal billions of dollars from this country.”
The Emir of Kano, who also graced the event, said he was not going to respond to the issue raised by the former president at the forum out of respect for him.
He said he holds no grudge against former President Jonathan for removing him as the Central Bank governor in 2013.
Sanusi said vested interests who have profited from Nigeria’s continued importation of petrol were frustrating Dangote refinery.
He said, “There may be issues around the refinery. I don’t know what the details are, but this is a country that has been importing petroleum products for so many years faced with an opportunity for winning itself from importing petroleum products. Instead of grabbing this opportunity, you know, with open arms, we are frustrating it.
“Why would anyone stop us from having the capacity to produce our own refined petroleum products? This is because there are vested interests who have profited from Nigeria continuing to import these products.
“There could be people locally who have been profiting from these subsidy scams. And this is the end, because every excuse disappears when you’re no longer importing and you’re producing locally. And these are the kind of instances and examples that we see, left, right, and center, which continue to get in the way of Nigeria transiting from being a rentier state to a developmental state.
“And for me, this is the most important thing. The faces may change, the parties may change, the characters may change, but we have to continue to address this issue. How do we turn the Nigerian state into one that understands it is an agent of the people and not an agent of those who control the levers of political power? I think this is a big lesson in this book”.
Vice President Kashim Shettma said the present administration has ensured that men and women of knowledge, patriotism, integrity, and reputation are appointed to head critical institutions in the country.
These appointments, the Vice President said, are designed to safeguard the implementation of government policies from being undermined by private or special interests.
Represented by a former Minister of the Federal Capital Territory, Aliyu Modibbo, he said moreover, where necessary, the government is investing in building for government officials, embracing technological innovations, fostering international cooperation and prioritising evidence-based policymaking and institutional reforms.
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These measures, he said, are essential in ensuring that good governance prevails and that public policies are implemented in the best interests of all Nigerians.
He said it is therefore not a surprise that President Bola Tinubu appointed Dr. Shamsuddin Usman, a distinguished academic, elder statesman, and exemplary public servant as chairman of the Ministry of Finance, Inc.
Shettimma said Usman’s expertise and commitment to public service are reflected not only in his leadership, but also in the profound contributions he has made through his book.
He said the book was not merely an academic treatise, but offered practical lessons grounded in both global and local contexts, making it an essential resource for policymakers and stakeholders alike.
“As we gather to witness this public presentation of this book for policymakers, I extend my sincere gratitude to Dr. Shamsuddeen and his team for their immense efforts in shaping the narrative of governance in Nigeria. You have provided a light to generations in need of guidance and a compass to those charting the course of public service,” Shettima said.
He said the greatest wisdom in the sphere of policymaking lies in looking to predecessors and contemporaries as mirrors.
“Through their successes and setbacks, we can gain not only a nuanced understanding of the complexities of governance, but also insights into the value of that knowledge, accumulated over the years by individuals who have shaped governance as we know it today.
“I’m honoured to share with you all the joy of this day, the joy of revealing a profound book, and I congratulate each and every one of us here for the difference that we are making. We are all aware that public policy and agents’ interests represent indispensable components of governance. They are the dilemma we must accept in addressing the needs of our people and the greed of those who aspire to undermine us.
“Whether in education, health care, the economy or politics, this is the reality. This is so because the objectives of the individuals and institutions responsible for implementing these policies can sometimes divert from the broader public interest. When this occurs, the public good is undermined and the political progress of our nation is impeded.
“The consequences of allowing agent interests to conflict with public policies are regrettable and unacceptable. They can be destructive not only to our developmental goals, but also to our national security. This is why we must welcome the intent of books like this, which offer profound analysis of critical subjects, one that lies at the heart of national progress and public trust.
“Distinguished ladies and gentlemen, whether in the form of political interests, special interest groups, or bureaucratic interests, these agent-driven motivations represent tangible expressions of the political adage, who gets what, when, and how. When these interests manifest in corruption, misgovernance, or policy capture, they threaten the very foundation of national progress.
“Dealing with this agent interest so as to minimise their negative impact on policies that promote the public good requires the establishment and maintenance of transparent and accountable institutional frameworks. These frameworks must be designed to ensure open decision-making, strong oversight mechanism, and active citizen participation in the policy-making and implementation processes.
“Only in such an environment can we ensure that agent interests are aligned with the public interests, rather than working at cross purposes. Thankfully, under the leadership of His Excellency, President Bola Tinubu, this administration is taking significant steps to confront these challenges head on. We have embarked on institutional reforms aimed at promoting the public good and preventing policy capture by agent interests,” he said.
Chairman of Dangote Group, Aliko Dangote, said the issue of agent interest was not only focused on the public service.
Represented by Engr Mansur Ahmed, he said, “The public service agent is not working alone, never does. There is always a partner somewhere outside lurking in the background waiting for the public agent, if you like, who wants to divert policy intentions into personal interests.
“So I think in this regard, we need to look at not just the role of the public servant, but also those partners outside who help them. I think if we have been following the recent controversies about the Dangote refinery, you will clearly see that the public agency interest is not just working from within the public service alone.
“And that is why it is so critical that in analysing it, in trying to find solutions to how the agency interests affect our economy, we must also look beyond just the public service.”
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Usman while speaking on the issue of budget padding and constituency projects, said lawmakers were not alone in the corrupt practice, but always worked with the executive.
He said: “If we don’t get the politics right, we won’t get anything right. I battled with the national assembly regarding budget padding and constituency budget. I remember during the 2008 budget after we got it back, we sat down and took out all the padding and constituency budgets and sent it back. That was the beginning of my trouble.
“Like someone said, it takes two to tango. For every constituency project, someone in the executive side is involved. Either a perm secretary or a Director is conniving. Many times, we blame lawmakers but there is collaboration with some people in the executive”
He expressed appreciation to all who made the book a success.
The book was reviewed by former Director-General, Bureau of Public Service Reforms, Dr Joe Abah.
The event was well attended by dignitaries which cut across various sectors in the country.
