APC Says CBN Sanusi Suspension Is A Distraction - The $20 Billion In Oil Funds Are Still Missing

APC spokesman, Lai Mohammed

The All Progressives Congress (APC) accused President Jonathan today of using the Sanusi suspension as a distraction in the investigation over the missing $20 billion in oil funds.

In a statement, APC said instead of discrediting the Governor of the Central Bank of Nigeria, the Jonathan administration would have been better using the time to investigate the missing oil funds, and the case would have been solved by now.   ''Fortunately, discerning Nigerians are not hoodwinked by the Presidency's choreographed mudslinging against a whistle blower…"

The Governor of the Central Bank of Nigeria, Malam Lamido Sanusi Lamido claimed the Nigerian National Petroleum Corporation failed to make payments totally $20 billion to the Federation Account.  

Saharareporters broke the story last year releasing a letter sent by Mr. Sanusi to President Goodluck Jonathan about the missing monies.  

The revelation led the Nigerian Senate Committee on Finance to hold hearings earlier this month investigating claims about the missing funds.

The APC statement, was issued by the interim National Publicity Secretary, Alhaji Lai Mohammed, and says the party still has questions:

What happened to the missing 20 billion dollars?

If part of the funds were used for kerosene subsidy, as was claimed in the Senate hearings, who authorized the spending of money that was not appropriated, in violation of the nation's constitution?

Who reinstated the subsidy removed by a presidential directive?

If $8.76 billion of the missing money was used for kerosene subsidy, whom and who are the beneficiaries, since Nigerians are not enjoying any subsidy on kerosene for which they are paying at least 150 Naira per litre?

The APC also said Sanusi's suspension was unlawful but if the allegations have validity the federal government should have charged him instead of discrediting him.  

They also claim the Jonathan Administration's decision effected the value of the Naira and the general economy, ''These are just short-term repercussions. The long-term fallout may be the scaring off of foreign investors by the perception of instability in the financial sector and the erosion of the CBN's autonomy. If and when that happens, a President who has so far failed to uplift his nation's economy would have succeeded in sabotaging it."