‘I Met $3.7 Billion In Reserve, While Buhari Met $30 Billion’ –...

‘I Met $3.7 Billion In Reserve, While Buhari Met $30 Billion’ – Obasanjo

By Doyin Ajayi | Sub-Editor on March 21, 2016
Former Nigerian President Olusegun Obasanjo
Former Nigerian President Olusegun Obasanjo

Former President Olusegun Obasanjo has dismissed calls by a group demanding that he accounts for Abacha loot recovered by his administration. In an interview conducted by Frisk Larr and published on hisblog, the former military general described such persons as “illiterates and stupid people”.

Speaking over the weekend, Obasanjo said the role of his office was to facilitate the recovery process and not how it was put to use.

“They said the money recovered from Abacha, I should account for it. What stupidity! The man who asked for it, the man who gave the judgement or who answered them are all stupid, with due respect.

“I don’t keep account, all Abacha loots were sent to Central Bank of Nigeria, CBN, and every bit of it was reported to Minister of Finance. My job was to write where we can get help to recover the money.

“Every penny that comes out of it went to CBN, so if they want to know what happened to the money, they should call CBN governor or call the Minister of Finance.

“But again, it shows ignorance, total ignorance, which is lacking and you wonder, are these people educated? They can also approach the man who helped us in recovering process to give the list of money recovered and where he took it,” Obasanjo said.

Buhari Luckier Than Me

While commenting on oil prices, Obasanjo said President Muhammadu Buhari was lucky comparing Buhari’s opportunities with his own.

“When I assumed office in 1999, I inherited $3.7 billion in reserve, while Buhari met $30 billion, almost 10 times of what I met then, and the price of oil then was $9. When it got to $20, I was dancing.

“I know the price is down now and with time, it will jump up again. What Buhari is doing currently is preparing ground for Nigeria to take advantage when it goes up again,” he maintained.


  1. Baba obj. Pls sir stop abusing people when they ask important questions,& by the way it an error to fend ignorant of the recovered loots…you are supposed to know how much was recovered for record purposes! It wasn’t a chicken money to be treated with kids glove! Well,it is only in Nigeria you can sound this way,not in America & Europe! Pls go further & ask the central bank governor & minister of finance as you pointed out..they worked for & with you!

  2. From what Mr Obasanjo said about Abacha loots “that the man who asked for it, the man who gave the judgement or the man who answered them are all stupid with due respect. What I want to ask, is Obasanjo not part of that stupidity if he can still answer them by saying “I don’t keep accounts, all Abacha loots were sent to central bank of Nigeria, CBN, and every bit of it was reported to minister of finance. my job was to write where we can get help to recover the money. I think he is part of the stupid people he was talking about.

  3. I can’t pray for a better nigeria i can only pray for peace because a time will come were the will surely pay for their evil did if not on earth here then it will be in hell

  4. i was a fine of obasanjo while he was a president. but i became disgusted with his actions the day he tore his pdp membership card, most of his letters, his comments, his links to some shaddy deals while some unaccounted funds were traced to him as a formee president, his attititudes to national issues without broaching same like a father, with all sense of maturity? his action is always towards to cause disunity, confusion and disaffection. is he the only nigerian president? can this man learn from gowon, shagari,shonekon etc? is he getting insane?
    i begin to wonder whether this man is actually a father, educated or a motor park tout? another issue that arouse my conscience is can former u.s presidents like george bush, clinton, etc behave same? what is wrong with africans? are we under spell?

  5. Wondering if Nigeria as county,still retains its principles of rules of law. A county where objectivity is not been given a cause. Hmmm! God help us!

  6. I don’t want to say anything concerning this issue because even if we are shouting from now till tomorrow nigerian government will never change,it’s occurs to me that Nigeria is too big for them to handle so it’s better that they share it so that everybody will face his own country

  7. i was a fine of chief olusegun obasanjo. but my support for him suddenly began to wane as he began to be on the centre stage of confusion . i thought that the chief. ought to conduct himself ada father rather than a rsscal. he is involved in every issue not to settle same, but to create animosity or acrimony. he incites and love the walls be brought down. he write letters without rumiinating over its implication. he labells every one corrupt but claims incorruptible. obedient to constituted authorities are unknown to him. nobody knows anyhing but him alone. he forget how he bribed the national assembly through mantu dp as to achieve his third term bid. he is a wicked man.

  8. I don’t see anything wrong in what he said, this is a country where we have division of labour with procedures set aside to handle things, the little Buhari has recovered let him give account if he can, what has it been used for? They should leave Nigerians alone and let the forces of market mechanism determine our growths.

    • Oladapo, you don’t see anything wrong in what he said? I bet you don’t also see anything wrong in accusing Goodluck of looting even Buhari’s ear. BIAS.

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