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Where has all the oil money gone?
In Nigeria, Some Questions Shouldn't Be Asked

“A substantial amount of money has gone,” Lamido Sanusi told a Nigerian Senate committee in January. How much money? A cool $20 billion. Where did it go? That is the question no one can—or will—answer.

Sanusi was, until recently, the governor of Nigeria’s central bank. He showed the Senate committee how much money was missing and told them he feared that the economy might collapse if these funds weren’t recovered. “I wasn’t just talking about numbers. I showed it was a scam,” he told Adam Nossiter of the New York Times in a recent interview. He threatened banking officials with a special investigation. He accused the national oil company of disguising and disappearing its revenues. Never before had Nigerian officials been subjected to this sort of scrutiny from such a high-ranking official. One unnamed banker said Sanusi’s accusations caused a panic, “a general heaviness.” Sanusi was told to “cool down.” A few weeks later, Nigeria’s president fired him.

Sanusi is only the latest rabble-rouser to accuse Nigeria’s elite of skimming and stealing billions of dollars from the country’s oil revenues. That $20 billion in oil sales could just disappear from the treasury boggles the mind. But Nigeria’s political elite shuts up tight as soon as someone like Sanusi asks questions. With an election coming up, and Nigeria’s political system dependent entirely on patronage money, no answers are likely to be forthcoming.

As if a deeply corrupt government weren’t enough of a burden on the country, Boko Haram is again on the forward march. According to one Nigerian newspaper Boko Haram has killed almost 600 people since January 16. On that day, President Goodluck Jonathan replaced all the heads of the military with their deputies, whom he hoped could more capably deal with the insurgency. That plan hasn’t gone particularly well. Not even a week ago militants attacked a school, shot and killed 43 students, and abducted an untold number of women. Not for the first time, schools across the northeast were closed by the government to prevent further deaths.

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  • Dan

    Dear Respected One,


    Permit me to inform you of my desire of going into business relationship with you. I got your contact from the International web site directory. I prayed over it and selected your name among other names due to it’s esteeming nature and the recommendations given to me as a reputable and trust worthy person I can do business with and by the recommendations I must not hesitate to confide in you for this simple and sincere business.

    I am Wumi Abdul; the only Daughter of late Mr and Mrs George Abdul. My father was a very wealthy cocoa merchant in Nigeria , before he was poisoned to death by his business associates on one of their outing to discus on a business deal. When my mother died on the 21st October 1984, my father took me and my younger brother HASSAN special because we are motherless. Before the death of my father on 30th June 2002 in a private hospital here in Abidjan. He secretly called me on his bedside and told me that he has a sum of $12.500.000 (Twelve Million, five hundred thousand dollars) left in a suspense account in a local Bank here in Lagos, that he used my name as his first Daughter for the next of kin in deposit of the fund.

    He also explained to me that it was because of this wealth and some huge amount of money his business associates supposed to balance his from the deal they had that he was poisoned by his business associates, that I should seek for a God fearing foreign partner in a country of my choice where I will transfer this money and use it for investment purpose, (such as real estate management). Sir, we are honourably seeking your assistance in the following ways.

    1) To provide a Bank account where this money would be transferred to.

    2) To serve as the guardian of this since I am a girl of 26 years.

    Moreover Sir, we are willing to offer you 15% of the sum as compensation for effort input after the successful transfer of this fund to your designate account overseas. please feel free to contact ,me via this email address

    Anticipating to hear from you soon.
    Thanks and God Bless.
    Best regards.
    Miss Wumi Abdul


  • Fat_Man

    Dan couldn’t resist.

  • free_agent

    Who forgot to pay off Sanusi? Was he so lazy he forgot to steal money for himself? Or did, by some mistake, an honest person get into the Nigerian government? (Of course, European governments looked like this a couple of hundred years ago, too.)

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