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CBN Illegally Funding Buhari’s Government, Says Sanusi - Politics - Nairaland

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CBN Illegally Funding Buhari’s Government, Says Sanusi by Islie: 7:39pm On Dec 02, 2016
Muhammad Sanusi II, emir of Kano and former governor of the Central Bank of Nigeria (CBN), says the apex bank is illegally lending to federal government.

Sanusi also said “the problem of the current government is not having the right policies to fix the current economic woes”.

Speaking at a policy monitoring dialogue hosted by Savannah Centre for Diplomacy, Democracy and Development, at Transcorp Hilton Hotel in Abuja, Sanusi said the CBN had been lending to the government above the limits stipulated by the CBN Act of 2007.

Sanusi’s presentation showed that CBN’s lending to the government since Buhari came in had spiked from about N1.5 trillion to over N4.5 trillion.

“The CBN-FGN relationship is no longer independent. In fact, one could argue their relationship has become unhealthy,” he said.

“CBN claims on the FGN now tops N4.7 trillion — equal to almost 50% of the FGN’s total domestic debt. This is a clear violation of the Central Bank Act of 2007 (Section 38.2) which caps advances to the FGN at 5% of last year’s revenues. Has CBN become the government’s lender of last or first resort?”

He said no one was willing to lend to the Nigerian government, further stating that “if senate approved, I want to see who will lend you $30billion when you have five exchange rates”.

Sanusi said the country is enmeshed in heavy debts, stating that out of every N1 Nigeria makes, 40 kobo goes to debt and 60 kobo is left for salaries, health, education, power, infrastructure.

He said oil is merely a working capital that cannot make the country rich. Nigeria produces one barrel for 80 Nigerians; Saudi Arabia produces one for 3 Saudis, Sanusi said.

He noted that in every economy, growth is driven by “consumption, investment and net export”, adding that “our exports cannot grow, without regulatory certainty or an increase in the price of oil”.

He lamented that the country was spending money on repaying debts and also on recurrent expenditure, as against education, healthcare, power, and other infrastructure.

The emir also stated that Nigeria is the lowest per-capital spender on development in Africa.

On speaking truth to power, Sanusi said: “I cant apologise for being who I am. The government I served, I did not keep quiet. When I am not serving the government, I cannot keep quiet.”


https://www.thecable.ng/cbn-illegally-funding-buharis-government-says-sanusi

108 Likes 14 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by HungerBAD: 7:42pm On Dec 02, 2016
Observing.

I stand for the truth only.

Not typing anything here.

17 Likes

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by AllTheWayUp: 7:42pm On Dec 02, 2016
[size=13pt] grin grin grin


I fear for Sanusi's freedom


Buhari will soon order DSS and EFCC to clamp down on Emir Sanusi for speaking the obvious truth.
[/size]

157 Likes 6 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by Xflint(m): 7:43pm On Dec 02, 2016
Sanusi dey watch your back ooo

19 Likes

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by CandyDiamond(f): 7:47pm On Dec 02, 2016
[/b]Nigeria is a dead country[b], Buhari and his cohorts have sink it below six feet.

32 Likes 3 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by Nobody: 7:50pm On Dec 02, 2016
So apparently zombie-ism can be cured?

128 Likes 2 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by Sibrah: 7:50pm On Dec 02, 2016
Wailers, food is ready.

4 Likes 3 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by Tolexander: 7:51pm On Dec 02, 2016
AllTheWayUp:
[size=13pt] grin grin grin


I fear for Sanusi's freedom


Buhari will soon order DSS and EFCC to clamp down on Emir Sanusi for speaking the obvious truth.
[/size]
Now, Sanusi is saying the obvious truth!

Then, when he was shouting about the unremitted tens of billion dollars by NNPC as the CBN Governor, during Jonathan's administration, he was saying the obvious lie!

Nigerians and double standard!

152 Likes 13 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by Miles300: 7:51pm On Dec 02, 2016
Just a simple explanation a layman can understand , very direct nd straight to the point , not technically in recession nd all those stupid grammar dey use to deceive Nigerians !! Sometimes I try to agree wit Ruben abati that there are strong demons in aso rock ! This administration is so unserious and lacks ethics in how a government is suppose to be run , GEJ caused this and that , is GEJ also responsible for disorganization of this administration , is GEJ also responsible for lack of good policies in this administration ?

204 Likes 18 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by IdisuleOurOwn(m): 7:54pm On Dec 02, 2016
Nigeria produce 1 barrel for 80 Nigerians, Saudi produce 1 for 3 Saudis cry.

33 Likes 2 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by IdisuleOurOwn(m): 7:55pm On Dec 02, 2016
OZAOEKPE:
GOD if we ever offend you abeg forgive us, give that ani mal on the throne partial stroke or jus help us retire that thing cry


This grown up kid above have nothing to contribute than throw insults just to garner '' likes '' and ''shares'' from little minds here.

Smh.

31 Likes 4 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by PaulIdu: 7:55pm On Dec 02, 2016
True ..it's obvious that CBN has lent 20 billion dollars of Nigerians kept in local dorm accounts to the govt of the demon of Daura and that why they ordered banks to to place a limit of 10 000 dollars monthly on withdrawals from those accounts

64 Likes 6 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by timsTNA: 7:56pm On Dec 02, 2016
Afonjas come and defend your master

80 Likes 3 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by ahaz: 7:59pm On Dec 02, 2016
OZAOEKPE:
GOD if we ever offend you abeg forgive us, give that ani mal on the throne partial stroke or jus help us retire that thing cry
And Gods reply to your prayers: my son, my son....enjoy the change you seek, don't drag me into this.

29 Likes 4 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by Splashme: 8:17pm On Dec 02, 2016
timsTNA:
Afonjas come and defend your master
Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by dunkem21(m): 8:25pm On Dec 02, 2016
OZAOEKPE:
GOD if we ever offend you abeg forgive us, give that ani mal on the throne partial stroke or jus help us retire that thing cry

This is bad bro.. Though zombies wished more than this to GEJ.

God keep PMB.

16 Likes

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by olaric(m): 8:25pm On Dec 02, 2016
timsTNA:
Afonjas come and defend your master

Yeah yeah! The same way you double standard hypocrites defended GEJ when Sanusi exposed him the other time. I give up on this country; this is too much.

23 Likes 4 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by timsTNA: 8:28pm On Dec 02, 2016
olaric:


Yeah yeah! The same way you double standard hypocrites defended GEJ when Sanusi exposed him the other time. I give up on this country; this is too much.

I dont think you know what Double Standard means. You people said GEj was corrupt and the change you brought still does the same thing you accused GEJ for, yet you guys still find reasons to defend his actions.

127 Likes 8 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by AllTheWayUp: 8:29pm On Dec 02, 2016
Tolexander:
Now, Sanusi is saying the obvious truth!

Then, when he was shouting about the unremitted tens of billion dollars by NNPC as the CBN Governor, during Jonathan's administration, he was saying the obvious lie!

Nigerians and double standard!


Zombie oya recieve Sense grin grin grin

90 Likes 6 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by Opakan2: 8:31pm On Dec 02, 2016
Ipob yewts will start crying all over the place now..

na Dilector wey dem don forget for kuje CBN wan fund bfor undecided

5 Likes 3 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by austinereds(m): 8:33pm On Dec 02, 2016
We gonna be alright. lord help us.
Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by ogaprime(m): 8:45pm On Dec 02, 2016
We must probe how the emir got his wailer's form

37 Likes 3 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by hedonistic: 8:45pm On Dec 02, 2016

Sanusi also said “the problem of the current government is not having the right policies to fix the current economic woes”.

Toh. Shebi I've been screaming this same thing all over Nairaland for months now.



On speaking truth to power, Sanusi said: “I cant apologise for being who I am. The government I served, I did not keep quiet. When I am not serving the government, I cannot keep quiet.”

Now, I might have hated this garrulous Emir in times past, but with this assertion, he just won my respect. Can't argue. Can't pretend.

39 Likes 2 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by olafunny(m): 8:46pm On Dec 02, 2016
Criminals




On the other news

10 Likes 1 Share

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by loomer: 8:46pm On Dec 02, 2016
Tolexander:
Now, Sanusi is saying the obvious truth!

Then, when he was shouting about the unremitted tens of billion dollars by NNPC as the CBN Governor, during Jonathan's administration, he was saying the obvious lie!

Nigerians and double standard!

I don't believe anything he says self
Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by Paperwhite(m): 8:46pm On Dec 02, 2016
Ghen! Ghen! grin .Now this is happening in a government headed by Nigeria's "most holy" anti-corruption czar.Zombies over to you guys.

14 Likes

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by onatisi(m): 8:47pm On Dec 02, 2016

14 Likes 1 Share

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by AceRoyal: 8:48pm On Dec 02, 2016
As it stands now,Nigeria is FINISHED COMPLETELY.If this government continues with its grand deception,bad governance and unhealthy policies, NIGERIA WILL BE COMPLETELY FINISHED

All we need now is innovative governance and not all these shallow minded antics of this present government.

15 Likes 2 Shares

Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by adonbilivit: 8:48pm On Dec 02, 2016
Re: CBN Illegally Funding Buhari’s Government, Says Sanusi by onatisi(m): 8:48pm On Dec 02, 2016
loomer:


I don't believe anything he says self
you will believe when you start buying fuel for 200N

22 Likes 2 Shares

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