CBN Governor Sanusi Lamido Sanusi's letter of 25 September 2013 to President Jonathan alleged $20bn in unremitted NNPC oil receipts. He was suspended on 20 February 2014. The PwC forensic audit (Feb 2015) confirmed a $1.48bn direct shortfall and characterised the methodology disputes around the balance.
20145.· $1.48bn (audited)· Chapter I · Money
Unremitted NNPC Receipts (Sanusi disclosure)
$20bn unaccounted for, per Sanusi Lamido Sanusi (CBN). PWC audit confirms $1.48bn shortfall; disputes around the remainder.
Sources
- · Sanusi Letter (25 Sep 2013)
- · PwC Forensic Audit of NNPC (Feb 2015)
What it cost — political & economic reality
The political and economic reality
Nigeria in 2014: who was in charge, the cabinet of the day, the GDP, and the crises that defined the period.
President · Fourth Republic
Dr. Goodluck Ebele Jonathan
2010–2015· PDP
National reality
GDP rebasing April 2014 made Nigeria Africa's largest economy. Chibok abduction 14 April 2014 (276 girls). Sovereign Wealth Fund established 2012. Fuel-subsidy protests January 2012. Lost the 2015 election — first incumbent defeated.
Crises of the period
- #OccupyNigeria fuel-subsidy protests (Jan 2012)
- Chibok abduction (Apr 2014)
- Boko Haram caliphate at peak (2014)
- Oil price crash from mid-2014
GDP (World Bank)
$369 bn (2010) → $546 bn (2014, post-rebasing — largest African economy)
Cabinet (selected portfolios)
- Finance
Ngozi Okonjo-Iweala (Coordinating Minister of the Economy)
- Education
Ruqayyatu Ahmed Rufa'i; Ibrahim Shekarau
- Petroleum
Diezani Alison-Madueke
Source: Federal Gazette 2010–15; NBS GDP rebasing report 2014
Methodology
Tier 1 · primary
Courts. Gazettes. National archives.
Tier 2 · corroborating
OCCRP. HRW. BudgIT. TheCable.
Redline
Wikipedia is never a source.