Former President Goodluck Jonathan says the Federal Government did not lose $49.8 billion under his watch as president.

Jonathan stated this at the launch of a book by the former Minister of Finance and National Planning, Dr Shamsudeen Usman, who served under the former president’s administration, in Abuja on Thursday, September 26, 2024.

The book titled, “Public Policy and Agent Interests: Perspectives from the Emerging World”, was co-authored with other accomplished Nigerians and seasoned technocrats.

Jonathan, who served as Nigeria’s President between 2010 and 2015, said while he respected the views of the author, he disagreed with some contributions by the former Governor of the Central Bank of Nigeria (CBN), who is now Emir of Kano, Sanusi Lamido Sanusi.

Jonathan said the money was too huge to be missing in a country like Nigeria when the total budget was less than the alleged missing amount.

Jonathan added: “That year, our budget was $31.6 billion. So for a country that had a budget of $31.6 billion to lose about $50 billion and salaries were paid, nobody felt anything. The researchers that wrote this book need to do further research.

“More so, when our revered royal father came up with the figures, first $49.8 billion, later $20 billion, and later $12 billion. I don’t even know the correct one.

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“Immediately that happened, we commissioned Price Water Coopers (PWC) to do a forensic audit.

“The report they came up with was that $1.48 billion that they couldn’t provide account for and NNPC should pay that money into the Federation Account.

“They did not say we lost $12 billion, $20 billion, or $49.8 billion. Senator Ahmed Makarfi is still alive. He was the Chairman of Senate Committee on Finance.

“Immediately that publication came out, the Senate directed their Finance Committee headed by Makarfi to investigate.

“They used external and professional auditors to look into it; they didn’t see either $50 billion, $20 billion or $12 billion.”

The former president, who said he never regretted appointing Usman as a minister, added that he acquitted himself as one of the best planning ministers this country had ever produced.

Jonathan, who wrote the foreword of the book, recommended to all, including policymakers, business leaders, public officials, students, and academics.

The Star