Jonathan spent N100bn, $295m cash in 2 weeks

The Vice-President, Yemi Osinbajo has revealed that former President Goodluck Jonathan spent N100bn, $295m cash in two weeks.

According to the Vice-President, the massive looting during Jonathan’s administration led to the downturn in the economy.

Osinbajo also said “The theft of resources in this country is the first and primary reason for our poverty.

“That is why we have to address the issue of corruption pointedly, not once in a while because the system is corrupt; it is a corrupted system that we are running. This is not a system where corruption is just an exception, corruption is generally the rule in the Nigerian system.

“It is easy to say how come we don’t have money or why are we borrowing money? If you as an individual have N1million and somebody stole N900,000 from it, you won’t ask the question how come I am poor? You will immediately tie the theft of your money to your poverty.

“When we came in, we had a foreign reserve of $32 billion, but there was $15billion used for defence contract that was unaccounted for.

“Weeks before the 2015 elections, the government then, gave out N100billion in cash and $295million in cash ostensibly for security within two weeks. Those are the reasons why we don’t have money.”

The News Agency of Nigeria (NAN) reports that over 1,000 pastors from across the country attended the conference.