‘Sanusi May Have Donated Gov’t Funds To Clandestine Groups Working Against Nigeria’...

‘Sanusi May Have Donated Gov’t Funds To Clandestine Groups Working Against Nigeria’ – PDP Alleges

By Wires | The Trent on March 16, 2014

Just as suspended Central Bank of Nigeria (CBN) governor publicly released his response to the allegations levelled against him, the Peoples Democratic Party, PDP, has demanded for a detailed forensic audit of all the accounts and financial activities of the Central Bank of Nigeria, CBN, from 2009, when Mr. Sanusi assumed duties at the bank, till date.

In a statement signed by its National Publicity Secretary,  Olisa Metuh, on Sunday, the party also demanded that the audit must establish and publish all movement of monies from the CBN accounts such as contract sums, donations and other extra budgetary spending under the suspended CBN governor, Lamido Sanusi.

The PDP further said that it has facts, some of which have already been published by the Financial Reporting Council, which showed that within the period, the CBN engaged in reckless award of inflated contracts through which over N680 billion belonging to the bank was frittered away.

It alleged that the beneficiaries of the contracts consisted of highly corrupt persons, hiding under the toga of anti-corruption crusaders and whistle blowers to siphon the nation’s resources.

Ignoring Sanusi’s response, the party said it was convinced that there was mismanagement in the spending of the bank’s funds which made it impossible for it to properly prepare its financial statements since 2012 using International Financial Reporting Standards, IFRS.

The ruling party also claimed that its investigation showed that the APC and its stalwarts were  beneficiaries of the siphoned CBN money surreptitiously diverted to them by the suspended CBN governor.

It alleged  that a fraudulent N48 billion contract was awarded to a leader of the APC while N5 billion was further paid to another stalwart of the party as consultancy fee.The PDP said the bank also diverted over N1billion to the APC in addition to N100 million each donated  to some chieftains of APC to fund their activities last year.

Furthermore, the PDP said the audit it wants must expose the  true beneficiaries of over N150 billion doled out as developmental donations especially since beneficiaries such as the Bayero University Kano, BUK, have denied receiving the sums recorded against their names by the CBN.The party noted that BUK was widely reported to have announced that it received only N1billion as against the N4 billion the CBN claimed it gave to the university.

“Our great party as well as other well meaning Nigerians are particularly worried by allegations that such funds may have actually ended up as financial support to clandestine groups working against the unity and corporate existence of the nation”, the statement said.

It argued  that a forensic audit of the bank would provide answers to how the apex bank under Mr. Sanusi spent N20.202 billion on ‘Legal and Professional Fees’ in 2011, as well as the N1.257 billion spent on ‘Private Guards’ and ‘Lunch for Policemen’ in 2012.

“It will explain to Nigerians how the sum of N23 million and N50 million were spent just to renovate the official residence of the CBN governor, while solving the puzzle of N848 million claimed to have been spent on the purchase of a property from the National Planning Commission even without any transaction agreement,” the PDP said.

The party described as grave corruption the alleged discrepancies noted in the 2011 and 2012 CBN account regarding the Nigerian Security Printing and Minting Company (NSPMC) wherein  the CBN claimed it paid a total of N38.233 billion to the company in 2011 for printing of banknotes whereas the NSPMC declared a total turnover of N29.370 Billion for all its transaction with all clients (including the CBN).

“The issue of prudence at the apex bank borders cardinally on the health of the economy, the growth and well being of the entire nation,” the party said.

”Our demand for a forensic audit therefore tallies seamlessly with our firm position on due process and rule law,  bearing in mind the imperative of straightening the records and bringing offenders to book, failure of which will catalyse a furious denudation on the confidence of Nigerians in governance, while emitting wrong signals to the international communities, especially, the development partners.”

(via The Scoop)


  1. This is rather embarrassing, don’t you guys care any more about posterity. Can we actually have an intellectual discuss? SLS has offered an intellectual platform with his response all Metuh has to do is dignify the audience by offering same. PDP should come to terms with the reality of a better informed audience

  2. God should please deliver us from PDP and its craziness… Why can’t they operate like proper adults? With some class and dignity? If they have issues with his response – why not respond in like? By the way, where does a political party have the locus standi to comment on these issues??? Lord…

  3. Let’s stop being funny and face the fact. Sanusi has mismanaged nigerians funds and that is it. It does not matter who is blowing the whistle, what matters is that corruption ENDS. Do u have an idea of the effect of corruption on the Nigerian economy especially when this corruption is rooted in the Centeral Bank of Nigeria??
    Yes PDP has the locus standi to comment on issues bothering every sector and aspect of Nigeria. Like most democracies in the world, Nigeria is practising party politics and that means that when a party handles power, it rules that is why they are called the rulling party. Since they rule, they have the right to comment whatever as far as it is within the law.
    Listen if Lamido Sanusi or the APC feels the PDP is leveling false allegations againt him/them, then they should take the matter to court..
    Nigerians hmmmm when u ignore corruption, they say u supporting corrupt officials, when you fight corruption, they say you are attacking officials.
    Truth be told, corrupt pactices were carried out at CBN under the supposed watchful eyes of Sanusi Lamido Sanusi, period.

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