NewsReel 10/3/2014 - Presidential Victimization of Sanusi and the treasonable theft of $20 billion Dollars

[ Masterweb Reports: Obinna Akukwe reports ] – Whether President Goodluck Jonathan decides to victimize, sack or prosecute Sanusi Lamido Sanusi, Nigeria’s sacked Central Bank Chief, the truth is that a $20 billion dollar theft has been exposed and the sheer size of the theft is treasonable, especially with 80 million people living below $10 dollars daily.


$20 billion dollars have been stolen, hoarded, hidden and unremitted by some officials of Nigeria National Petroleum Corporation (NNPC) with the connivance of some elements within the presidency. I have made case in the earlier piece released just before Sanusi’s suspension titled Jonathan, Sanusi, NNPC and the missing ( Stolen) $20 billion Dollars ‘ that “those who connived to withhold the $20 billion dollars include Christians from the Catholic, Anglican, Methodist, White Garment and Pentecostal folds. They also include Muslims from Shia sect, Sunni sect, NASFAT, Boko Haram sect and all groups calling on God or Allah to protect them from the wicked ranting of impoverished unfortunate countrymen about to challenge their divine $ 20 billion dollar breakthrough”.


 All these attempts to tag a N163 billion naira, ( $1 billion dollar) accusations of wasteful and unauthorized spending  on Sansui’s head is an attempt to sweep the issue of the stolen billions into the carpet. To cover up a treasonable theft of $20 billion dollars, a kite of reckless use of $ 1 billion dollars was flown about. In 2012 when Hon Farouk Lawan Committee of the lower parliament exposed the theft of $10 billion dollars (N1.7 trillion naira) of petroleum products paid for without being supplied to the Nigerian people, the agents and friends of government pursued Lawan with corruption until they trapped him with bribery of $1 million dollars, and that was how a theft of $ 10 Billion dollars was forgotten.


The House of Representatives have confirmed that Nigeria loses $5 billion dollars to oil theft annually. According to the Chairman of the House ad-hoc Committee on Crude Oil Theft, Bashir Adamu, “The level of oil theft is alarming and of grave concern to stakeholders”.. “Illegal bunkering has caused Nigeria to lose an estimated $5 billion (N780 billion) yearly, amounting to $400 billion since Nigeria’s independence. “Statistics show that a total of 350,000 barrels per day was lost to illegal bunkering in 2012, representing an increase of 45 per cent over the figure of 2011, and 67 per cent over that of 2010, while the trend for 2013 is even more alarming”.  In Jonathan’s tenure since 2010, it amounts to $20 billion dollars in 4 years. Sanusi’s revelations shows that $20 billion dollars was stolen in eighteen months, it follows that in four years $56 billion dollars would ultimately have missed.


Therefore, from this oil business, Nigeria has lost approximately $20 billion dollars to oil theft, $20 billion dollars to subsidy theft of 2011, $20 billion dollars missing funds and probably another $20 billion dollars missing from the previous 18 months not yet exposed. Add the recently exposed $ 7billion dollars fraud in the NNPC Swiss oil deal and the $1 billion dollar Malabu Oil Deal and you get $88 billion dollars stolen in four years. Therefore, when Nigerians stop asking questions on what happened to $88 billion dollars and become interested in how Sanusi allegedly mismanaged $1 billlion dollars, then an Indian charm is working on everybody.


Months ago a document allegedly from the Nigerian Customs indicted the Coordinating Minister of Finance, Okonjo Iwuala of granting waivers to the tune of 1.4 trillion naira ( $9 billion Dollars ) between 2011 and 2013 to companies allegedly owned by friends and cronies of government., The Comptroller General of Nigerian Customs, Mr Dikko. Inde Speaking when he appeared before the Joint Senate Committees on Finance and Appropriation said that about N 866 billion was lost to waivers within a 9-month period, including N263.8 billion granted on importation of petroleum products. This is $ 4 billion dollars in nine months alone. Jonathan is yet to issue a query to Mrs Okonjo Iwuala  on the issue. When the Senate was cross examining her, she admitted granting waiver of over N 170 Billion naira. Her bosom friend and Nigeria’s oil minister Dieziani Madueke has more financial infractions than every other government official and no frown has yet come from the government. Therefore, the speed at which Sanusi was thrown away is just an act of victimization for exposing a 20 billion dollar sleaze.


To many persons, Sanusi Lamido Sanusi represents many things-

To majority of Christians in Nigeria, he is a religious fundamentalist who wanted to impose Islamic Banking on the nation.

To some Churches, he is the villain who ordered he freezing of the accounts on accounts of terrorism

To some indigenes of Southern parts of Nigeria, he is a suspected Boko Haram sponsor

To the Kano Citizens, he is the Best successor to the throne of the Emirship of Kano

To International investors, he restored confidence in the Nigerian economy.

To stock brokers, he maintained stability in the stock exchange market.

To business men, he controlled inflation and brought it to all time low in many years

To corrupt bankers, he is the demon who is worse than the EFCC, seeking to retrieve money that is not his father’s

To PDP politicians, he is the Lucifer who wants to stop the accumulation of funds to prosecute the 2015 presidential elections

To financially aware depositors, he is the champion who ensured that every fund they deposited in any bank in Nigeria is always available on demand even at huge cost to national treasury.

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