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EXPOSED! Sanusi Stole Billions From CBN Account B/4 Sack; FRC Audit Leaks Fraud

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EXPOSED! Sanusi Stole Billions From CBN Account B/4 Sack; FRC Audit Leaks Fraud

sanusi cbn account

Feb 22, 2014 – EXPOSED! Sanusi Stole Billions From CBN Account Before Suspension ; FRC Audit Exposes Fraud & Funds Diversion

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…”

[Source: THE WILL, San Francisco]

29 Comments

29 Comments

  1. beautiful oge

    February 22, 2014 at 11:37 PM

    Like i said in my previous comment, this bastard mallam must be investigated
    he is a thief

    • Yaks

      February 23, 2014 at 3:05 AM

      pls, try and be objective in your life.

  2. Eunice Monday

    February 22, 2014 at 11:38 PM

    But who gave him this much power. He seems like the most powerful man in Nigeria making laws overnight

  3. Omodara Johnson

    February 22, 2014 at 11:38 PM

    This mallam must be jailed for money laundering

    • Lekan Lawal

      February 23, 2014 at 4:11 AM

      They will not do him anything,or maybe they will ask him to pay fine of N750,000 which he will bring out from his breast pocket. How I which am not from this country. Imagine money for police launch of which a corpral in the Nigeria police is collecting N46,750 per month,the money that is not up to what your dog is using to visit vetinary doctor per week. Then why are you people saying police are corrupt and they are thief,can somebody tell me who is a thief now. Haba this is a clear matter. Then why are u people punishing people that stole blackberry phone by sending them to 25years imprisonment. We Nigerians don’t deserve this humiliation,at least give us little of this of this our country wealth before we die. Pay us good salary,do our roads,let us have stable light,good health care. As am typing,am sheding tears,I don’t know what to say again. Am all tears,upon all my stress this useless mallam and his cohorts are eating billions of naira everyday na ogun go kill you,thief

  4. KEVIN

    February 23, 2014 at 12:16 AM

    The people controlling nigeria are all roughs, THIEFS, Just tell me how this mother land call nigeria can go forward with all this kind of shit going on.

  5. Bose Sanya

    February 23, 2014 at 12:28 AM

    All his supporters should go and wear glasses now to see all these arraigned evidences on him of his bling bling pen and paper robbery and they should learn to stop their entire tantrum.
    When shall Nigeria get over underdevelopment syndrome that makes us remain dwarf since 1960? CORRUPTION is the cholera that has been killing Nigeria. Please God! help to subside this sickness that is called CORRUPTION!!!!!

  6. Anonymous

    February 23, 2014 at 12:53 AM

    These are fabrications as typical of Nigerian Govt whenever there is a whistleblower. Why now? What happened to Deziani and Co in NNPC? Until that lady is investigated, we are yet to find out the truth. I don’t buy any of the crap.

  7. red

    February 23, 2014 at 1:45 AM

    Okay,take it red easy,your contribution is nothing just vent out your frustration.”1.257b NAIRA FOR POLICE LUNCH ????,WHEN SOME OF THEIR MONTHLY SALARY IS LESS WHAT A LADY USE FOR HER MONTHLY PERIOD.1.257b fucking naira and our leaders of tomorrow went on strike for such a long time,4.5b HOUSE RENOVATION WHILE BOKO HAREM KILLS INNOCENT PEOPLE BECAUSE THE ARMY AND POLICE HAVE NO FUCKING AMMUNITION TO FIGHT BACK ! JESUS CHRIST OF NAZARETH ,ARE YOU FUCKING KIDDING ME ?,What is really going on , God please let this be a nightmare and I want to wake up right now before i die.All these flying billions without destination and graduates still roam around without job,eating ma/pa thanks sir/ma.Even the doctors went on strike,Monsters that’s what they are,heartless,and still have the heart to sentence people to death.More stories will be out including the president deals and the overseas account of their concubines.2b bogus checks to airline while we have no dream of stable electricity EVEN IN OUR COURT HOUSE. Those country that know the true meaning of leaders will use us as their dinner story no need of music,we are gonna be example to kids and a course they study in school.Let be truth save us and set us free.I wish i didn’t see this.

  8. Sacha

    February 23, 2014 at 5:58 AM

    This is the mother of all robbery; pen and gun included. Sanusi thought he is smart by shouting corruption without knowing he is the one behind it. Nigerians really need some explanation on transactions including donations he made while in office.

  9. Yanky

    February 23, 2014 at 6:15 AM

    To all anti Sanusi you can go and kiss electric pole for all i care. Dummy Nigerians with sentiment how can you justify subsidy on kerosine yet you are buying into government game of the MORE YOU SEE THE LESS YOU UNDERSTAND. As for me the only frustrated person is Jonathan and not SANUSI

    • gal

      February 23, 2014 at 5:11 PM

      you dummy are you sure

  10. Ayobami

    February 23, 2014 at 6:29 AM

    JESUS CHRIST LOVES U, GIVE YOUR LIFE TO HIM

  11. osipapa

    February 23, 2014 at 7:41 AM

    I always tot he waz a saint, hmmmmmm. He did well by informin us abt d theft in NNPC bt he shud also knw dat we hav seen his bad side also. He is a theif. Same ppke. Foolish man tryin to bring down d govt of GEJ. Sanusi is a boko haram supporter lik erufai. Northerns pricks

  12. doggy dod

    February 23, 2014 at 10:57 AM

    pls can we pls focus on corruption,forget dis government is chop i chop,imagine how can we justify dis,CBN governor na ogbologbo chopping our currency i am highly dissapointed in a man dat we all thought meant good 4 us,can CIC now probe NNPC,i hope Abati is not deaf even if presido dont understand our plight,probe Abati him sef dey chop money but can we get 2 d bottom of d matter,probe petroleum sector NNPC

  13. AK

    February 23, 2014 at 11:37 AM

    I cannot but cry for my beloved nation. People in high position of authority do things without fear or consequence of their action. Let us imagine a country where if you hold public office and you misappropriate with clear evidence and you face a firing squad no one will still blatantly like this idiots are right now. But all of them are on the same boat stealing billions and no one to check them. It is a cancer that will continue until real uprising of the poor masses will arise and we shall have a real dialogue of how young, vibrant and dynamic people will take charge of the affairs of this nation.

    We are not going to run away from our country but the time is very near when the looters will face the wrath of the masses. They may have guns but the people have guts. Lessons from Irag, Egypt and other places should be a warning sign of things to come. How on earth will someone be spending without anyone checking his authority of doing so. And before Lamido’s supporters start to shout foul play can the governor publish publicly his expenses and records of his entire running cost while he held the position? If he can then he will receive the backing of the whole Nigerians as a true and honest man he his trying to portray himself to be and if not he should face jail for misconduct and massive misappropriation. What a nation where anything and everything goes. The future of our unborn child in this nation is definitely unknown.

  14. Uzoma

    February 23, 2014 at 11:56 AM

    Sanusi is a mediocre banker that was only put in that position because he is from the North. Their purpose of putting him there was to put all Nigerias money in the so called Islamic bank. Imagine the emir of Kano coming to his defence simply because he is from Kano like him. It was the same Emir that cursed out Obasanjo when the latter wanted to arrest Abacha’s son over the billions of dollars him and his thieving family stole from Nigeria. This Emir should hide his face in shame.This has shown that Nigeria is not one and will never be one. This is why they want to be president at all cost so that they will continue to steal Nigeria blind. The south should wake up and smell the coffee. Amaechi and all those Southerners supporting Buhari of the so called APC are fools. The Northerners and Buhari have an Islamic agenda. They want to turn Nigeria from a secular state to an Islamic state. This will hasten the total colapse of the country.

  15. Jay

    February 23, 2014 at 12:02 PM

    This man should be killed….

  16. Paul

    February 23, 2014 at 12:55 PM

    Hope these findings are true with all reasonable fact.

  17. Matt

    February 23, 2014 at 6:12 PM

    This man should be well investigated. I have a feeling he is the man sponsoring boko haram. Since his islamic banking idea has crashed he is now trying to divide nigeria with boko haram so that buhari can finaly be the president of their islamic sucking nation and he will be the vice. GODFORBID, ONE NIGERIA, ZERO CURRUPTION

  18. Matt

    February 23, 2014 at 6:22 PM

    Sanusi,buhari,ibb,atiku these are the people disturbing nigeria’s peace but with God they are all going down this year. Buhari,sanusi and atiku can only be nigerias president in 4005 when this present generation is gone

  19. jejelogba

    February 23, 2014 at 7:33 PM

    Their story was just coming up.Pls everybody should wait n see, they we soon exposing one another one by one.Be u mr president,the senate,govtnors and others.I believe God wil inter vein and set us free frm dis pen n guns robbers.

  20. Yusufu Abdullahi

    February 23, 2014 at 8:14 PM

    It is only those unacquitted with public service would consider those issues enumerate as corruption because Sanusi did not and cannot sit down in his leaving room or office to carry those things out like investment in another country. CBN has a Governing Board with full accountability and it is not constituted by Sanusi alone. Financial Reporting Council is an unknown arms of Government. Technically the CBN auditor or Auditor General of the Federation, if directed by the National Assembly are more appropriate. cBN has an enabling law guiding its operation and therefore only illiterates Nigerians will believe so called FRC. Remember Dr. Okigbo report on 11 billion dollars during IBB? If you look at that report and this FRC report, are similar done to tanish names but really to tell the truth. Sanusi fortunately did not divert the funds into his pocket. Items of expenditure are enumerated and recipients mentioned. Any rational mind who wants the truth which very expensive to come by in the current era of the Nigerian history, can undertake independent auditing to find the truth. Suspension cannot hide the truth.

  21. mko

    February 23, 2014 at 9:25 PM

    Typical of Nigerians….condemnation without verification of allegations. wait for the court to decide on those allegations.

  22. lenny kravitz

    February 24, 2014 at 3:37 AM

    I foresaw all these financial misconduct allegations against the person of mallam sanusi . The question is “who is the bigger thief ? ” . No doubt that GEJ is very corrupt , sanusi should have known that equity demands clean hands .

  23. BABAFREAKY

    February 24, 2014 at 10:23 AM

    LETS WAIT AND SEE AS EVENTS UNFOLD MY PEOPLE.OUR GOD IS SAYING AND WORKING OUT SOMETHING FOR THE GOOD OF THIS COUNTRY, IF NOT NON OF THIS REVELATIONS WILL COME TO THE OPEN.

  24. hamzy

    February 24, 2014 at 4:11 PM

    nigeria need a revolution, let all hit the streets, we want a law to be pass that any public office holder, state government, senate, vice prez , councillor , minister, accounting officer for gov, and other , anyone found gulity should be sentenced to dead by hanging
    with this law , a lot of corruption will reduce and if in case of president , he should be impeached and jailed.
    nigerian need to change and it is now, or else by few years to come, half the country will become armed robbers

  25. viccblaze

    February 25, 2014 at 8:44 AM

    Nigerian politics, its too childish for my liking.y is dis issue coming up now . Clueless fools

  26. Musa Johnson

    February 25, 2014 at 9:12 AM

    It is unfortunate that a fabricated allegation against Sanusi Lamido Sanusi could provide a justification for a generalised attack on so-called “northern pricks”. It is highly irresponsible for anyone to attribute the crime of an individual to an entire region. So when the former Minister of Aviation,Stella Oduah, was alleged to have been involved in shady deals;did it mean that East or igbos were all culpable? Again, the Petroleum Minister,Allison Diezani has been repeatedly accused of corruption;does it mean that all Bayelsans are now all bad? NO! there are good northerners,there are bad northerners. There are good Yorubas and Igbos as well as bad Yorunbas and Igbos. And above all, there are good Nigerians and there are Bad Nigerians.
    Let us please restrain our anger and condemnation only to the individuals and persons being accused of wrong doings. It should not be a justification for people to disparage an entire region or tribe.

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