Crossword Genius

US president, on leaving, gets nothing (3)

Ross

I believe the answer is:

nix

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'nothing' is the definition.
(nix can mean nothing)

I don't understand the remainder of the clue.

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(Other definitions for nix that I've seen before include "water sprite" , "Spiteful water spirit" , "Cancel" , "Watch out for" , "0" .)

I've seen this clue in The Telegraph.
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