President Muhammadu Buhari on Saturday said the Emir of Kano, Lamido Sanusi, spoke out of ignorance when he accused the present government of illegally overdrawing the country’s central consolidated account.
The account, domiciled at the Central Bank of Nigeria, was said to have been overdrawn to the tune of N4.7 trillion by the Buhari administration, an act the traditional ruler said contradicted Section 38 (2) of the CBN Act.
“CBN claims on the FGN now tops N4.7 trillion — equal to almost 50 per cent of the FGN’s total domestic debt,” Mr. Sanusi said. “This is a clear violation of the Central Bank Act of 2007 (Section 38.2) which caps advances to the FGN at 5 per cent of last year’s revenues.”
Mr. Sanusi also attacked the federal government’s plan to borrow $30 billion from foreign lenders to fund the budget and build infrastructure. He said no one will lend Nigeria money at a time it is operating five different tiers of foreign exchange rates.
Mr. Buhari responded through his media aide, Garba Shehu, on Saturday night, saying the former CBN governor “doesn’t have his facts as far as those issues are concerned.”
The president admitted that he ordered a massive borrowing from the CBN, but said the limit had not been pushed.
“The issue in CBN, that government has overdrawn its Central Consolidated Account is true, but the overdrawing is within limits.
“The overdraw does not exceed 1.5 trillion. It is incorrect to say, as he did that the account was overdrawn by 4.5 trillion,” he said.
The response was posted by Mr. Shehu on his Twitter page, and he said the government still had sufficient fund in the treasury single account to clear its loan from CBN.
“But even assuming that he was correct. This is a govt that has money in excess the amount he mentioned in the Treasury Single Account, TSA.
“It is just like you, a bank customer operating two accounts, one in the red & the other, well funded to the point that it can at any time wipe the indebtedness on the other,” Mr. Buhari said.
“Would any bank manager lose their sleep over this?”
Mr. Sanusi had been attacking the Buhari administration’s economic policies for a while.
On August 24, a week before Nigeria officially slipped into recession, the emir blamed the economiccrisis on the incoherent policies of the federal government, and warned that Mr. Buhari may end his reign in the same manner as President Goodluck Jonathan.




http://www.premiumtimesng.com/news/headlines/217031-emir-sanusi-ignorant-buhari-replies-n4-7-trillion-overdraft.html

Just negodu onye na asi Na Sanusi di Ignorant of "activities in CBN"

So the treasury single account is now available to the FG? Thought they said the contrary sometime ago?

Just imagine Buhari talking when Sanusi is talking about economy.

Bubu and his co-dullard are talking with dia ear and hearing with dia mouth.

Sanusi just like El Rufai has a sever case of mouth diarrhea

U cant stop sanusi no matter wat
He talks a lot but he knows better than uncle emefiele and aunty adeosun in economic matters

Sunnymatey:
Just imagine Buhari talking when Sanusi is talking about economy.

the same sanusi that accused alleged that billions of dollars were missing from NNPC,when gej was d president,but u lots called him names saying he was making false accusations


now same sanusi has become saint, nd what ever he says is economically right,shame on u.

Like if it is President Buhari dat spoke out of ignorance

Share if lamido sanusi spoke out of ignorance



let's no who is nt talking wt sense

every little thing u will hear "we have excess money in TSA". if this is true, why borrow from both outside and within the country? why stress the CBN?

#Atiku2019

Bubu will not kill person. A military dog telling and economist is ignorant of the economy.

mkoabiola:
U cant stop sanusi no matter wat
He talks a lot but he knows better than uncle emefiele and aunty adeosun in economic matters

just like how he know bettr thann okonjo nd diezani shey.

Swallow ur pride nd admit it

Buhari is what we call scalar quantity in physics; He has magnitude but no Direction.

It still beat my imagination how yorubas accepted and supported this El- clueless come El-dullardin.nho!

Na lie buhari. Sanusi dey talk true

Afonjas come and support Sai Baba

I don't have anything meaningful to say
I better keep mute

Buhari remember one thing emirs will remain until death but u n ur useles senseless clueless regime will expire

na wah there is money in the TSA and everything is grinding to a halt. Do these peoole know how USA came out of recession? thy inhljected funds into thier economy, stimulated the small scale manufacturers so jobs were created by the private sector.

these ones are increasing taxes and impoverishing the people the more. Why didnt they encourage the establishment ofidular refineries before removing duel subsidy. the boys in the creeks cam refine crude easily to give diesel and pms, then the governmnt can buy off the remaining substrate to extract bitumen, petroluem jelly, tar and the rest. but as a military government everything is done through force and the barrel of the gun. thy vlams miitants for sabotaging pipelines. why wont they, when the same government takea proceeds from thier land to go and develop regions in the north and can't evem have the courtesy to appreciate them. but rub it in thier face that there are 97% and 5%.

they can keep acting like they would be there forever. it is almost two years. they will be shown power is transient aftet 2019. wicked government

Mynd44:
https://www.nairaland.com/3500225/emir-kano-does-not-facts

Gerarahere mehn!

Kam hapu kwa ifu ukwu gi here again.

..