Thursday, January 9, 2014

BREAKING: President Asks Central Bank Governor To Resign Over Leaked $49.8bn Letter


President Goodluck Jonathan asked Central Bank governor, Lamido Sanusi, to resign over a leaked letter about missing $49.8 billion oil revenue.

On December 2, ex-President Olusegun Obasanjo mentioned the missing revenue in his controversial letter to Jonathan.
Jonathan, in turn, denied Obasanjo's accusations. He dismissed allegations of "high corruption" in government and said that Sanusi's allegations - made in a letter from 25 September - were "spurious".
According to ThisDay, the President demanded the CBN governor to resign over the phone, asking him to leave by 31 December 2013.
In a "heated exchange", Sanusi refused to leave his post before his term ends, a source confirmed to the BBC.
CBN chief told the President that others could have leaked the memo about the state oil firm's failure to account for the revenue, as it was available in the presidential villa, Ministry of Finance, and Central Bank.
Sanusi wondered how he could have leaked the letter, which was so widely available, to a former two-term president of Nigeria who has his people everywhere.
He also said that about $10bn was still unaccounted for by the Nigerian National Petroleum Corporation (NNPC).
CBN chief stated he would not be forced out, except he is removed by two-thirds of the Senate and expressed surprise that those responsible were not being asked to resign instead.
This information has confirmed earlier reports that Sanusi might be forced to leave before his tenure ends.
How it all began
Sanusi had written to Jonathan in September informing him that the NNPC had not remitted $49.8 billion of oil revenue to the Federation Account over a 19-month period.
The letter was not made public until December 4, 2013 when it was leaked, and Obasanjo referred to it in his letter to the president.
NNPC was denying Sanusi's letter for some time, and accused the CBN governor of playing politics.
A joint press conference was convened by the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, Minister of Petroleum Resources, Diezani Alison-Madueke, and Sanusi.
It was revealed during the conference it was revealed that a reconciliation process was ongoing, and had so far established that it was not $49.8 billion that had not been repatriated to the Federation Account but $10.8 billion.

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