The man who blew open the corruption saga that rocked the Nigerian National Petroleum Corporation (NNPC), Emir Muhammed Sanusi, has once again reaffirmed that the NNPC failed to remit billions of dollars to the federation account.
Sanusi explained this further in a piece he wrote for Financial Times yesterday. Read his full write up after the cut.
Just over a year ago President Goodluck Jonathan suspended me from my position as governor of the Central Bank of Nigeria after I questioned an estimated $20bn shortfall in oil revenues due to the treasury from the state oil company. As I said then, you can suspend a man, but you cannot suspend the truth. The publication last month of a PwC audit into the “missing billions” brings us a step closer to it.
When I was central bank governor I raised three broad questions. First, did the Nigerian National Petroleum Corporation remit to the government the entire proceeds of its crude oil sales? Second, if it did not, is there proof of the purpose to which the unremitted amounts were applied? And third, did NNPC have the legal authority to withhold these funds?
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