The Emir of Kano, Sanusi Lamido Sanusi has strongly kicked against the plans by President Muhammadu Buhari to seek‎ Senate’s approval of his $30 billion loan request.

The former Central Bank of Nigeria (CBN) Governor said even if the Senate gave its ascent to the loan, no country or global financial institution would be willing to grant such huge amount.

Sanusi, during a policy dialogue forum organised by the Savannah Centre for Diplomacy, Democracy and Development (SCDDD), in Abuja disclosed that for a nation that has five exchange rates, it would be difficult for such request to scale through.

Sanusi emphasised that oil cannot help the nation out of the current economic situation and that it would “never make Nigeria ‎rich.”
His words: ‎”I can tell you for free, if the Senate today approves that we can borrow $30 billion, honestly, no one will lend us. It should be approved and I will like to see how you will go to the international market with an economy that has five exchange rates.

“There is one rate for petroleum marketers, there is inter-bank rate, there is another for money market operators such as western union, money gram, there is bureau de change rate and there is a special rate you get when you call the CBN for a transaction.

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