₦airaland Forum

The Emir of Kano and former Governor of the Central Bank of Nigeria (CBN), Muhammad Sanusi II, said he agrees with about 80 percent of President Bola Tinubu’s policy direction but has reservations about certain aspects of fiscal management and food importation.

Speaking in an interview with News Central on Tuesday, Sanusi commended the administration for stabilising the economy through improved fiscal discipline and better monetary policy coordination.

“In terms of monetary policy and stability, I have nothing but commendation for the government. On the fiscal side, we have had an improvement in revenue-to-GDP ratios, improvement in debt service ratios, and a contraction in the deficit. These are positive steps, but we still have a long way to go,” he said.

The former CBN governor, however, noted that while the government had made commendable progress in revenue generation, it must pay closer attention to the quality and efficiency of public spending.

“I would like to see a better look at fiscal expenditure. We’re still spending too much money on government — on the cost of governance, too many political appointees, too many officers,” Sanusi said.

“If we do not improve the quality of spending and put a rein on expenditure, we’re going to continue borrowing.”

He warned that Nigeria could fall back into a debt trap if it failed to manage its post-subsidy savings prudently.

“After saving money from these expensive subsidies, after building up the government balance sheet, you go and spend it, and then you have to borrow again,” he cautioned.

“So we still have some steps to go on the fiscal side, but the first thing was to fix revenue, and I think with the tax reforms and what you’ve seen so far, the fiscal side is on its way.

Sanusi also called for structural reforms in agriculture, describing the government’s policy on food importation as counterproductive.

“I would like to see that we put a stop to the mass importation of food. I know it was driven by a desire to bring down food prices, but it is, in the end, very counterproductive to domestic production and domestic producer prices,” he said.

According to him, Nigeria must focus on strengthening its agricultural value chain to boost local food production and achieve sustainable food security.

“Hopefully, we will get to a point where we go back on track with the reforms in the agricultural sector — fixing the agricultural value chain and relying on domestic production to feed the nation,” he said.

Summing up his assessment, the Emir of Kano said the administration had made significant strides despite the country’s economic challenges.

LagosOrigin:
Sanusi will come out and debunked that he didn't say these

This government can deceive people eh

Freshtruth:
Na this MN I want make he rule this country . If is northerner turn I will beg him to come out on a platform it shouldn't be APC or PDP any platform at all we the Nigerian youth go carry be matter for head this man go change Nigeria for the better trust me

richiemcgold:
I agree with the emir on the fiscal spending.

But I disagree with the food importation. If we don't lift ban on food importation, local producers will continue to take advantage of the people by selling at ridiculously higher prices

Freshtruth:
Na this MN I want make he rule this country . If is northerner turn I will beg him to come out on a platform it shouldn't be APC or PDP any platform at all we the Nigerian youth go carry be matter for head this man go change Nigeria for the better trust me

“I would like to see that we put a stop to the mass importation of food. I know it was driven by a desire to bring down food prices, but it is, in the end, very counterproductive to domestic production and domestic producer prices,”

LagosOrigin:
Sanusi will come out and debunked that he didn't say these

This government can deceive people eh

Freshtruth:
Na this MN I want make he rule this country .

If is northerner turn I will beg him to come out on a platform it shouldn't be APC or PDP any platform at all we the Nigerian youth go carry be matter for head this man go change Nigeria for the better trust me

barcanista:
Since I was born, I have never witness the kind of hypocrisy, double standard and demonisation that is currently perpetrated by Muhammadu Buhari, the APC, Alhaji Sanusi, Osinbajo and their "good governance crusaders" against the person of President Goodluck Jonathan, Allison Madekwe, and other government officials.

Alhajis Buhari and Sanusi and APC have been going about using every platform to talk about a "missing $20b", cheered by their hypocritical followers that pride themselves as good governance crusaders. They have deliberately gone blind over the fraud of CBN under Sanusi as outlined by the Financial Reporting Council of Nigeria report in February 2014.

Sanusi Indicted And Removed For Fraud
According to the report (see below) Sanusi was indicted for Gross Misconduct that bothers on fraud and financial recklessness among other offence. The FRCN subsequently advised Mr President to remove Lamido Sanusi from office for further investigation and probe after the explanation of Sanusi appeared more like a tale and outrightly illogical according to FRCN. The council indicates that the explanation provided by Sanusi is “a clear display of incompetence, nonchalance, fraud, wastefulness, and abuse of due process and deliberate efforts to misrepresent facts on the part of the leadership of the CBN.”

The council advised the President to exercise the powers conferred on him by Section 11(2)(f) of the CBN Act 2007 or invoke Section 11(2)(c) of the said Act “and cause the governor and the deputy governors to cease from holding office in the CBN.”


April 2014: VP-elect Yemi Osibanjo Filed Case To Stop Sanusi Probe
Rather than Sanusi to prove his innocence in court, he filed a case in Federal High Court, Lagos to STOP FRCN and Other Security Agencies from investigating and prosecuting him through three Senior Advocates of Nigeria, Prof. Yemi Osibanjo, Dr. Kanyinsola Ajayi and Kola Awodien.
http://www.theguardianmobile.com/readNewsItem1.php?nid=24587

13 May 2014: Lagos Judge Tshoho Grants Sanusi Prayers
High Court Judge John Tshoho rather than uphold the constitutional powers of FRCN to investigate probe Sanusi, he granted the prayers of Lamido Sanusi and BARRED FRCN from further investigation or probing Sanusi Lamido Sanusi. In his own words...
“Prejudice is very pronounced in the language of that document. The language of the briefing note (transmitted by the FRCN to the presidency) conveys a sense of the defendant desperately goading the presidency to deal with the plaintiff,”
“The plaintiff submitting himself for investigation (by FRCN) is like the cockroach finding itself in the midst of fowls. Such a cockroach cannot be innocent,”.
http://www.tv360nigeria.com/?p=11923

Despite the fact the President Jonathan commissioned PWC to audit NNPC books to ascertain the veracity or otherwise of Sanusi's claim, Buhari, APC, Sanusi and their online agents that parade themselves as good governance and anticorruption apostles have been crying blue murder but refused to comment on the FRCN report nor the APC's VP elect role in shielding Sanusi for probe.

April 26, 2015: Buhari's Display of Hypocrisy
In his usual hypocrisy, General Buahri vowed to re-visit the $20b allegation but said NOTHING about the FRCN report. In his own word... “Imagine a situation where the former CBN governor who by God ‘s grace would later become the  Emir of Kano raised an  issue of missing billions of money, not in Naira but in Dollars, $20 billion.
“What happened, instead of investigating to know whether it was true that the money was missing or not, they simply found a reason to remove him. So these are the issues we are talking about…"
Contrary to the lies of Alhaji Buhari, Sanusi wasn't removed because he raised alarm, he was removed because he was indicted by FRCN. Jonathan also never kept mute, he commissioned PWC to audit the books. Buhari was also blind to talk about prosecuting Sanusi for the CBN fraud. Perhaps the Emir is as "incorruptible" as him(Buhari)

LagosOrigin:
Sanusi will come out and debunked that he didn't say these

This government can deceive people eh

nwirinedu:
If you support 80 percent of the atrocious policies there should be no buts in your remarks.