Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,865,876 members, 6,877,128 topics. Date: Monday, 23 May 2022 at 05:55 PM

"Emir Sanusi Is Ignorant",buhari Replies On 4.7 Trillion Naira Overdraft - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / "Emir Sanusi Is Ignorant",buhari Replies On 4.7 Trillion Naira Overdraft (485 Views)

Aisha Buhari Replies Shehu Sani As He Likens Nigeria To Animal Kingdom / Emir Sanusi Is An Enemy Of Islam Who Only Rides In A Rolls Royce - Yari's Aide / PDP Governments Spent N2.7 Trillion To Put Nigeria In Darkness — Dogara (2) (3) (4)

(1) (Reply) (Go Down)

"Emir Sanusi Is Ignorant",buhari Replies On 4.7 Trillion Naira Overdraft by Danielnino00(m): 1:38pm On Dec 04, 2016
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 borrow Nigeria money at a time it’s 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 economic crisis 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.




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

Re: "Emir Sanusi Is Ignorant",buhari Replies On 4.7 Trillion Naira Overdraft by ameddy1(m): 1:41pm On Dec 04, 2016
Ftc i smell it
Re: "Emir Sanusi Is Ignorant",buhari Replies On 4.7 Trillion Naira Overdraft by DMerciful(m): 1:42pm On Dec 04, 2016
k
Re: "Emir Sanusi Is Ignorant",buhari Replies On 4.7 Trillion Naira Overdraft by chriskosherbal(m): 1:46pm On Dec 04, 2016
Let's do things right and quickly for the betterment of the average Nigerians....





So that we can get this country out if recession for Good.

https://www.nairaland.com/3476612/having-manhood-challenges-come-see
Re: "Emir Sanusi Is Ignorant",buhari Replies On 4.7 Trillion Naira Overdraft by Mynd44: 2:04pm On Dec 04, 2016
Re: "Emir Sanusi Is Ignorant",buhari Replies On 4.7 Trillion Naira Overdraft by afanide: 2:05pm On Dec 04, 2016
It's not ignorance.....
FG trying to cover up cheesy cheesy
Re: "Emir Sanusi Is Ignorant",buhari Replies On 4.7 Trillion Naira Overdraft by softMarket(m): 2:39pm On Dec 04, 2016
Sanusi is a graduate!

He was also CBN governor so he knows how things run there!







Buhari should just forget this loan he wants to borrow...........cos Nigerians that are not zombie's will not allow this dullard to borrow that huge amount of money!!!
Re: "Emir Sanusi Is Ignorant",buhari Replies On 4.7 Trillion Naira Overdraft by borntosuccess(m): 2:50pm On Dec 04, 2016
OK na

(1) (Reply)

Wike Needs Immediate Psychiatric Attention - APC Rivers / Reps Summon Jibrin Over Fresh Petitions / What Obingwa People Need To Know Before The Dec. 21st Lg Polls.

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 45
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.