Despite Finger Pointing, Emir Of Kano Explains That He Did Not Accuse Anyone Of Stealing Nigeria’s Money But Was Worried Over Unremitted Funds As At The Time He Raised The Alarm Last Year
Emir of Kano, Alhaji Muhammad Sanusi II, says he never accused any one of stealing money when he raised the alarm, in 2014, alleging that $20 billion was missing from the federation account. He said that though he raised the alarm in good faith, he at no time said any individual had stolen the money, contrary to public perception.
The Kano monarch told a team of PriceWaterhouse Coopers, who were appointed by the Federal Government to carry out a forensic audit of crude oil revenues and remittances by the Nigeria National Petroleum Corporation between January 2012 and July 2013, that he only raised concern based on information available to him as at the time.
He however stated in the email exchange between him and PwC investigators that the “conclusions and recommendations” he reached “were based on the information available to me in my capacity as the Central Bank Governor”, adding that “it is likely that the provision of any additional information may change some of the conclusions”. Sanusi approved his submission as captured by the PwC investigators to the effect that: “You emphasized that contrary to general belief, you never said money was stolen”.
Sanusi also upheld submissions to the effect that they “focused on unreconciled and unexplained differences which were not remitted, and therefore missing, from the federation account. You insisted that your statements reflected your conclusions, using evidence available to you at the time, that money was being illegally withheld by NNPC and not being remitted to the federation. You remain convinced that the reconciliation provided to you by NNPC only served to prove this point”.
Approving the submission, Sanusi told the PwC investigators that “the content of the email below factually represent our discussions and accurately reflect my views, conclusions and recommendations”.
He added: “Please note that these views, conclusions and recommendations were based on the information available to me in my capacity as the Central Bank Governor and it is likely that the provision of any addition information may change some of the conclusions”.
The email came from Sanusi to NG/ GRM/PwC@EMEA-NG and dated 11/03/2014. It is marked Re: CONFIDENTIAL: Project Mercury Meetings. Time of sending the email from Sanusi’s mail account was 11:54pm. The email which was annexed to the report of the forensic audit of NNPC by PwC was classified as DC1 and “authorized use only confidential”.
The letter read at Paragraph 4 thus: “In conclusion, you stressed again that your primary concern remains the need for transparency and accountability by NNPC, quantifying any unremitted balance withheld by NNPC and facilitating the process for NNPC to remit same.
You made it clear that your submissions were based on facts and data available to you at the time and you fully appreciate your conclusions could change as more information is made available subsequent to your departure from the CBN”.
The letter reads in detail: Your Royal Highness, Thank you for making the time to meet us to discuss your views as it relates to our ongoing mandate of investigating the Crude Oil revenues due to the federation account. During our discussion, we (PwC) did not receive any documentation from you.
You stated your position as it relates to the crude oil revenues has not changed and all documentation available to you were submitted to the senate committee.
Please review this summary and confirm if it factually represents our discussions. Please feel free to highlight any areas you feel we might have misrepresented or misunderstood.
As we mentioned during our meeting, once we receive your confirmation, this email will be included in our records/reports. We have summarized our discussions with you below.
Meeting Summary 1. Background: that as the Central bank governor, you alerted the President of the Federal Republic of Nigeria about concerns you had on material and significant differences between the CBN’s estimatesof what NNPC ought to be remitting to the Federation and actual cash receipts.
You requested explanations on these differences as you were of the view that the unremitted amounts were being held at NNPC (and NNPC subsidiary agencies) in violation of the law and the constitution of the Federal Republic of Nigeria. You advised that NNPC be compelled to desist from this practice… Read more in the bromide of letter attached.
– Our Reporter