President Jonathan reportedly asked CBN Governor, Sanusi Lamido Sanusi, to tender his resignation before the close of business last Tuesday over allegations that the letter Sanusi wrote to him on the unremitted $49.8 billion oil revenue to the Federation Account, was leaked to former President Olusegun Obasanjo by the CBN governor which Obasanjo used as an allegation against Jonathan in his letter titled: “Before It is Too Late”.
Sanusi however denied the allegation and disregarded the President's call for his resignation during a heated telephone exchange during which he told President Jonathan that he could only be removed by two-thirds of the Senate as required by law.
The CBN chief is also reported to have expressed surprise to the president that he was the one being asked to resign instead of those responsible for the non-remittance of the funds. He told the president that as the federal government’s Chief Economic Adviser, mandatorily required to bring issues of critical economic importance to the attention of the president, he had done a patriotic duty to his country.
The NNPC has since dismissed Sanusi’s letter accusing him of not only playing politics but also of being ignorant of the operations of the oil and gas sector. A joint press conference was convened and addressed by the Coordinating Minister for the Economy and Minister, Dr. Ngozi Okonjo-Iweala; Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke and Sanusi. It was then disclosed that a reconciliation process was ongoing, and had so far established that it was not $49.8 billion that had not been repatriated to the Federation Account but $10.8 billion.
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