The Issue Of Unremitted Funds Between The CBN Governor And The NNPC; The Position Of Kaduna State Youth Leaders


cbn special

12th February, 2014


Recently the Central Bank Governor Mallam Sanusi Lamido Sanusi has accuses the Nigeria National Petroleum Corporation (NNPC) over some conflicting allegations of unremitted funds totaling over $49.5 billion dollars. The central Bank governor had in a letter to President Goodluck Ebele Jonathan dated 25 September 2013 which became public on the 9th December, 2013, said that the NNPC unremitted over $49.5 billion dollars proceeds of crude oil sales. But at a joint press conference on 18 December, 2013, Mallam Sanusi Lamido Sanusi admitted and said it was an error on the earlier said amount and say that the actual missing amount was $12 billion dollars. Again as if that wasn’t enough to misinformed Nigerians, Mallam Sanusi Lamido Sanusi some few days ago at the resumed senate hearing on 4 Feb. 2014 on the alleged missing money, he came up with a new figure saying that, the NNPC was yet to account for $20 billion from the total $67 billion oil sales receipts from January 2012 to July, 2013.

Sanusi explained that, the NNPC was still yet to account for the $12 billion dollars generally believed to be $10.8 billion the earlier pointed out another $6 billion shipped on behalf of the NNPC and $2 billion third party financing making a new total of $20 billion as he claimed on Tuesday.

Base on the above mentioned conflicting and fluctuating figure’s of unremitted revenue withheld by the NNPC under the leadership of Engr Andrew Yakubu as the group Managing Director (GMD) We the coalition of Youth’s organization’s(COYO) in Kaduna State are compel to raise the following question thus:-

v    Is Mallam Sanusi Lamido Sanusi trying to raise unnecessary propaganda to discredit the integrity of Engr Andrew Yakubu as GMD of the NNPC?

v    Is Mallam Sanusi Lamido Sanusi trying to play politics with the issue so as to discredit the Jonathan’s Administration and that of the PDP so as to gain cheap favor of the APC gubernatorial ticket of Kano State in the forthcoming elections?

v    Could this be a systematic way of taking the attention of the legislatures and Nigerians from his extra financial dealings of over N240.2 billion naira and another N138 billion naira intervention fund?

v    Is this a deliberate plot to incite Mr. President / Nigerians to remove the GMD?

v    Could this be a deliberate attempt to incite Nigerians against the President and his Government?

v    Is the presidential directive against kerosene subsidy suppose to be directed to the ministry of petroleum or the CBN?

1).        To us as youths, we see his conflicting and shameless act as a deliberate attempt to take away the attention of both the legislatures and Nigerians on his inability to recover the over 5.6. Trillion naira that he pumped into the asset management company of Nigeria (AMCON) in the name of bailing out of banks despite over three (3) years in business yet the CBN cannot recover this toxic asset.

2).        We see this action as a deliberate attempt to take away the attention of Nigerians from his extra financial dealings of over 240.2 billion naira and another N138 billion naira intervention fund.

3).        These baseless act is deliberate to incite the people against the government of President Goodluck Jonathan and cause the continues overheating of the polity.

As Nigerians and future leaders, we believe that there should be subsidy on Kerosene as this is the only way the ordinary man can have direct impact of government, hence condemn the fraudulent claim of a Presidential directive against kerosene subsidy.


We call on President Goodluck Jonathan to close his ears to this baseless allegation and give the GMD the necessary support to succeed as we pledge our continuous support to his administration.


We pledge our total support to Mr President and his government’s tremendous effort in transforming Nigeria and the realization of his agenda.  We salute the brilliancy, originality, exceptional intellectual ability that Engr. Andrew Yakubu is embodied with to provide proves that reconciles CBNs claim that almost rubbish his integrity.


We call on Mallam Sanusi Lamido  Sanusi to desist from raising baseless propaganda that will rubbish the hardened integrity of Mr. President, the Minister of Petroleum and the GMD and always focus on carrying out his responsibility as empowered by the constitution, as this will not only incite the people against the government but will equally subject our country into a state of anarchy.



1).        Chris Daniel Yada, Chairman Coalition of Youths Organizations in Kaduna/Kaduna State Youth Anti-corruption Watch, 08137845595


2).        Joseph John Auta, Secretary Coalition of Youths Organization in Kaduna/Kaduna State Professionals for Development,08102983788



3).        Dr. Khalin Wujat, Doctors without Boarder Kaduna State


4).        Comr. Kyom Jonah Adams, Southern Kaduna Youth & Student Forum 


5).        Comr.  Timothy Bakut, Southern Kaduna Liberation Movement


6).        Martin Biriogyan Magaji, Movement for the emancipation of Southern Kaduna Youth


7).        Alhaji Ibrahim Yahaya, Zazzan Emirate Movement


8).        Barrister Mutum Eli, Kaduna State Concern Lawyers, 08137988090



9).        Kazah Garba Bulus, Southern Kaduna Youth progressive Movement, 08165610181


10).      Bosan B. Sarki, Southern Kaduna Young farmers, 08037410419



  1. Do we realy have any communication here from the so called groups. Our youths are turning themselfs useless, hameless and beggers this day. Do we have such calls from those groups when our brothers and sisters are off campus for almost a year? all in the name of ASUU strike?, did”t that require their attention? AM HIGHLY DISAPOINTED WITH THE FUTURE OF THIS COUNTRY

  2. Hmmm…. I’m speechless. I don’t know when people will grow up and stop being used. So these jobless and confused guys conspired among themselves and called themselves “coalitionof kaduna state youth”? Wonders shall never end.
    When I go through the list of the signatories I was surprised at all. They are justt noise makers from the southern axis of kaduna whose brains have been taking over by Burkutu. What a pity???


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