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THE MISSING OIL MONEY SAGA

Source: thewillnigeria.com

Transform Nigeria Citizen Initiative (TNCI) has called on President Jonathan to open investigation on what it calls the missing oil money.

It says that it does not matter that Mr.
Sanusi Lamido Sanusi could not make up his mind on whether the missing amount is $49.

8, $10.
9 or $20.
0 billion.
That, of course is the heart of the matter.
It is this fact that the accuser does not know how much is missing that makes his story so suspect.

The president would eventually have to satisfy himself and the nation that no money is missing or how much if anything is missing and what to do.

Price Waterhouse audit has giving temporary relief thus far.

There is little incentive for pursuing this allegation for the following reasons: 1.

Mr.
Sanusi Lamido Sanusi, the accuser is a senior member of the administration and should have known how to pursue such a very sensitive matter.

The fact that he chose not to go through proper channels suggests that he had an ulterior motive.

This presumption of sabotage on his part has not been proved not to be true.

Subsequent events seem to support this suspicion.
2.
Mr.
Sanusi has been the head of the Central Bank for almost 5 years.

The question remains 'has the said amount or similar deposits been missing all these five years and he did not know of them or is it just a recent phenomenon?' If it is the first time, it would be easy to find out what changed but he seems unable to find what changed.

In accounting we report results as consistent with the previous years which is why we have this year's column and previous year's column and a variance column.

He would only need to publish comparative statements and everything would be clear to all and sundry.

Because he has not done so or is unwilling to do so makes those of us who read financial statements very skeptical of his motivations.

3.
The fact that has has not resigned in protest over the president not taking his accusations seriously seems to show that he does not have the interest of the nation at heart.

A good public servant would resign and make his information public and start to expose the criminal action in press releases.

He has chosen to merely repeat the accusation using a new set of numbers each time.

4.
It is clear from the reaction of the capital markets and the economy that the charges are not taken seriously by the world economy.

The stock markets, the commercial banks, foreign investments/investors have mostly ignored Mr.

Sanusi.
This is not possible when we are talking about tens of billions of dollars of missing money If TNCI is serious it should direct its attention to Mr.

Sanusi and urge him to make his facts public or shut up.

In a few months Mr.
Sanusi would be an ex governor of the Central Bank and his next moves would expose him.

We would then know who his paymasters had been.
Or if he was a voice crying in the wilderness.
The Jonathan Administration has been under severe political attacks for a while and it is beginning to look as if the hounds smell and are seeing blood in the water and the hounds are dying to get a bite.

Mr.
Sanusi might be thinking that it is time for Mr.
Sanusi to get his share of the meat.
It is wrong for TNCI to state as follows: However, more worrisome is that our commonwealth to the tune of billions of dollar oil money is unaccounted for.

The above is not established even within reasonable doubts how much more beyond all reasonable doubts.

Written By Benjamin Obiajulu Aduba

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