When the Financial Reporting Council Report was sent to Mallam Sanusi Lamido Sanusi on June 25, 2013, he’s fully aware that the game is over.
He allegedly brewed up his NNPC allegations to divert Nigerians attention from him by writing the president on September 27, 2013.
He succeeded in deceiving some, but his frauds can NEVER be covered.
Here are few of his fraudulent activities exposed by FRC audit
1] He donated N1b to BUK, Kano and wrote that he donated N4 million. 2] He wrote N40b debt of a bank without documentation and authority. 3] He invested $Billions in Malaysia Islamic Bank with no return on Investment to Nigeria. 4] He awarded 63 contracts valued over N1b each, without approval 5] He spent N1.257b for Lunch for his Police and Private Guards in a year. 6] He donated N1billion to a political party to build offices Nationwide. 7] He spent N4.5b to renovates his personal home without approval. 8] He spent N4billion on a CBN PH branch building that was already completed. 9] He wrote N2b Bogus checks to Airlines (some not registered in Nigeria) to distribute currency. 10) Claimed paying Nigerian Security Printing & Minting in 2011 N38.233b for the “printing of bank notes”. Company’s turnover in 2011 is only group is N29.370b from all customers including CBN. 11) Associated Airline was paid N1.025b in 2011, while the company was Dormant in the same year. (No Operation).
Operated Bogus Expense Heads To Hide Fraudulent Activities
… CBN Has Held An Account With A Balance Of N1.423 Billion For An Unknown Customer Since 2008.
Following Thursday’s suspension of Mr. Sanusi Lamido Sanusi as Governor of the Central Bank by President Goodluck Ebele Jonathan, THEWILL has exclusively obtained a copy of the Financial Reporting Council of Nigeria report that ripped apart the 2012 audited financial statement of the apex bank and exposed the fraud, excesses and wastefulness of Sanusi and the CBN.
Sanusi had over the years projected an image of an anti-graft banker, activist, reformer and crusader against graft and waste in government, as well as the financial sector. Weeks before his ouster as CBN Governor, Mr. Sanusi had accused the NNPC of failing to remit billions of dollars in oil revenue to the federation account, a claim which the NNPC has continued to dispute.
The 13-page Council report emanated following Sanusi’s response to a query issued him in early 2013 by President Goodluck Jonathan over the apex bank’s alarming reckless donations nationwide and its finances.
Whilst describing Sanusi’s response to the President’s query as “a clear display of incompetence, nonchalance, fraud, wastefulness, abuse of due process and deliberate efforts to misrepresent facts…”, the Council accused the suspended banker of several violations including but not limited to carrying out activities with financial implications that are not related to the CBN’s mandate, especially billions of naira in ambiguous payments to invoices referred to as “Centre of Excellence” and “Contribution to Internal National Security”, and the CBN’s claim that it paid N38.233 billion to the Nigerian Security Printing and Minting Company Plc in 2011 for the “printing of bank notes” whereas the turnover of the entire printing and minting company group is N29.370 billion.
The Council also accused Sanusi of rogue payments as air charter fees to Emirates Airways (N0.511b), Associated Airline (N1.025b) and Wing Airline (N0.425b), for the distribution of currency nationwide whereas Emirates does not operate local charter flights within Nigeria, Wing Air is unregistered in Nigeria with the Nigeria Civil Aviation Authority (NCAA), and Associated Airlines did not have a billion naira turnover in 2011 and have no financial statements because the company said it had not had any significant operation in two years to warrant preparing a financial statement.
In lieu of the serious misconduct it found against Sanusi and the leadership of the CBN, the Council urged the President to exercise the powers conferred on him by “Section 11 (2) (f) of the Central Bank of Nigeria Act, 2007 or invoke Section 11 (2) (c) of the said Act and cause the Governor and the Deputy Governors to cease from holding office in the CBN and also direct the Financial Reporting Council of Nigeria to carry out a full investigation of the activities of the CBN…”
Henryomega at 23-02-2014 09:38 AM (10 years ago) (m)
From the post i can see that he took our southern money to develop islamic school,buk kano and the north,85 percent oil block north,richest man north,fct north,while the east and south the source of the money suffers,i hope boko haram and others wont be blind to solid evidence,this is how abacha,gadafi,osama and others wud eat money and brainwash them to fight jihad while their family enjoys,i swear if oil is in the north hausa and fulani wud have divided from nigeria a long time ago
Posted: at 23-02-2014 09:38 AM (10 years ago) | Newbie
An interesting read however until this is proved beyond reasonable doubt I remain open minded.
In Nigeria it is really hard to determine who is the truth sayer and who is the liar. Nigeria is ran like a PLC conglomerate. I think if we had fought for our independence and not got it on a platter of gold we would protect our natural resources and interests with a better patriotic spirit. As worthless as the naira is, it is the bane of our development.
The government should sort itself out and stop behaving like children let loose in a sweet shop. The children cannot control the urge to want to taste every sweet available and then in the end fall sick because of their greed!
Posted: at 23-02-2014 09:49 AM (10 years ago) | Gistmaniac
Uzomasony at 23-02-2014 10:02 AM (10 years ago) (m)
Sanusi why??? when i norminated you to Jonathan as CBN Governor, i never knew that you will bring disgrace to me,, am seriouslly disappointed in you, please let Law take`s it`s effect,,, Foooooooooooool
Posted: at 23-02-2014 10:02 AM (10 years ago) | Newbie
Bankable at 23-02-2014 10:12 AM (10 years ago) (m)
They've not investigated this and is already in the news.. This might be slander, where were they when all this was happening? Is all false. Yes he looted money but not all of this bullshit they are writing about him.
Posted: at 23-02-2014 10:12 AM (10 years ago) | Upcoming
Topsylucas at 23-02-2014 10:26 AM (10 years ago) (f)
Quote from: Henryomega on 23-02-2014 09:38 AM
From the post i can see that he took our southern money to develop islamic school,buk kano and the north,85 percent oil block north,richest man north,fct north,while the east and south the source of the money suffers,i hope boko haram and others wont be blind to solid evidence,this is how abacha,gadafi,osama and others wud eat money and brainwash them to fight jihad while their family enjoys,i swear if oil is in the north hausa and fulani wud have divided from nigeria a long time ago
Ure right! Dey're a set of fools,dis abokis.Dey wan 2 remain in powr 4eva upon hw dull their brains re.
Posted: at 23-02-2014 10:26 AM (10 years ago) | Gistmaniac
Jezimarc at 23-02-2014 10:36 AM (10 years ago) (f)
Fraud and embezzlement did not spring up today. If he did what he is accused of, then he must have strategised on how to loath naija money long before he was placed on that seat. From their a - z in power are all guilty of one thing or the other. But na God go dey expose them one by one
Posted: at 23-02-2014 10:36 AM (10 years ago) | Upcoming
emmasnetg at 23-02-2014 10:39 AM (10 years ago) (m)
Even if these allegations are true, watch it, i trust Nigerian leaders, all these allegations will be swept under the rug, never to be heard of again, and the accused is vindicated.
Posted: at 23-02-2014 10:39 AM (10 years ago) | Upcoming
kennethosita
Henryomega
Babafryo1
Justmee22
okilo101
Uzomasony
ajanni
Bankable
Topsylucas
Demass24
emmasnetg
Raphaeltaiwo
johnaguinam
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