Emir Muhammadu Sanusi talks how $20bn vanished from state coffers in episode 1

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May 5, 2016 8:35 AM

“Money belonging to the Nigerian people was being taken away from them.” Emir Sanussi opens up to Peace Hyde on first episode of My Worst Day on Forbes Africa TV.

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The first episode to Forbes Africa TV’s flagship show,

In the hour special, Emir Sanussi talks about his ordeal at the hands of the Nigerian political apparatus when $20 billion went missing from the state coffers.

Emir Sanussi at the time, accessed the Nigerian National Petroleum Company (NNPC) for the scandal, placing the responsibility squarely on former petroleum minister Diezani Alison-Madueke who had oversight of that department.

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“I think my worst day will have to go down to the moment I came to the conclusion that the money that belonged to the Nigerian people was being taken away from them as Governor of the Central Bank. For many years, I had expressed some concerns about reserves not going up but it never really hit me."

"I always thought there was some explanation, the profit sharing contracts were not favourable to Nigeria, the oil companies were taking the bulk of the profits, but I think when I came face to face with the reality that money was actually coming in and not being remitted, that subsidies were being paid on products even though there was an existing presidential order not to pay nay subsidies on kerosene and that there were so called strategic alliance agreements that had given people with absolutely no back ground in oil the opportunity to take oil from Nigeria, ship it and keep the money,” says Emir Sanussi.

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"My Worst Day" focuses on the most challenging day in the lives of some of the most successful and enterprising business leaders of our time. It features Africa’s business powerhouse’s in a way never seen before.

Watch episode one below.

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