₦airaland Forum

Local enforcements.....

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So who owns the CBN?

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...some foolish people think the CBN is owned by the Nigerian govt!

Zainab Ahmed says President Muhammadu Buhari borrowed from the Central Bank to run the government and finance payment of salaries in 2020.

The Minister of Finance said this happened because 90 per cent of Nigeria’s revenue went into debt servicing.

Asked in an interview with ThisDay how long Nigeria’s debt servicing will continue, Mrs Ahmed said the government resorts to loans from CBN when “revenue underperforms.”

“In 2020, we had a challenge, when revenues were very low, we had some months that the ratio was up to 90 per cent revenue-to-GDP.

“In that case, we had to get a short-term facility from the Central Bank, to be able to support the government in terms of running its day-to-day expenditure,” Mrs Ahmed said.

She added that the trend of Mr Buhari borrowing from the CBN to pay salaries and run day-to-day activities of the government stopped in March 2021.

“We are no longer in that position. From March this year, we didn’t have to borrow from the CBN and we were able to use our revenues to service debts,” Mrs Ahmed said.

She justified the borrowing spree of the Buhari-led regime, saying borrowings are invested in building infrastructure, however, Nigerians have criticised the regime’s borrowing spree.

In September when Mr Buhari wrote the National Assembly requesting for another $4 billion loan, former President Olusegun Obasanjo, whose administration is lauded for clearing Nigeria’s foreign debt, condemned the loan request as “foolish and criminal.”

According to the Nigerian Domestic and Foreign Debt report that was published this year by the National Bureau of Statistics (NBS), the country’s total public debt as of September 2020 stood at N32.2 trillion ($84.57 billion).

https://gazettengr.com/we-borrowed-from-cbn-to-pay-salaries-other-expenses-in-2020-zainab-ahmed/

Wishful thinking....

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Jihad against Jihadist?

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Whatever brah....

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Eeediots.....

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Foolish people everywhere....

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Mediocrity.......when others dey drop SUV?

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Tragic

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..Oya Roy Keane, as you get mouth!

ok

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Like the Zamfara gold.......Dem no wan bring our share?

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Pep cashed out in time

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SERGIO AGUERO is set to announce his RETIREMENT next week, according to shock reports in Spain.

Manchester City's all-time leading goal-scorer, still only 33, suffered breathing problems during Barcelona's clash with Alaves last month.

Aguero was taken to hospital for tests before being ruled out of action for at least three months to undergo a period of observation.

He was diagnosed with a cardiac arrhythmia.

But reports in Spain are now sensationally claiming Aguero is going to hang up his boots in the coming days.

Barcelona journalist and streamer Gerard Romero revealed the news, tweeting: "Kun Aguero retires.

"Heart problems force him to leave football activity.

"A press conference has been scheduled to announce his retirement next week."

Many other major Spanish publications were quick to back up the news.

Last week, reports in Spain revealed the heart problem could lead Aguero to becoming 'incompatible' with the professional game and may no long be 'at a level required by Barcelona'.

Barcelona are yet to release any official comment on Aguero's current status.

But last week Aguero - who joined Barca on a free transfer in July - admitted he was staying 'positive'.

The Argentine claimed: "Given the rumours, I tell them that I am following the indications of the club's doctors, doing tests and treatment and seeing my progress within 90 days.

"Always positive."

Aguero won 15 trophies including five Premier League titles during his ten-year stint at Man City, scoring 260 goals in 390 games.

He also played 101 times for his country - scoring 41 times - finally helping Argentina win the Copa America earlier this year.

https://www.thesun.co.uk/sport/football/16796950/sergio-aguero-retires-heart-problem-barcelona/

Mugu's.....

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Anoda Loan?

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Who be collateral?

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Not interested......

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A Saint and a Looter.....

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Green on Green....?

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