Presidency replies Sanusi

The Presidency on Saturday said the Emir of Kano, Muhammadu Sanusi II, did not have the facts on the issues over which he criticised President Muhammadu Buhari’s administration.

Sanusi had, on Friday, said the  Buhari administration lacked the right policies to fix Nigeria’s economy, even as he warned of grave consequences of borrowing $30bn from external sources.

He had stated that even if the Senate approved the loan, no foreign nation or financial institution would be willing to accede to the country’s loan request.

But the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, said, “With every respect to the Emir, you know he is my ruler, because I come from Kano.

“He doesn’t have his facts as far as those issues are concerned. The issue in CBN, that government has overdrawn its Central Consolidated Account is true, but it 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.

“But even assuming that he was correct. This is a government that has money in excess of 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 and the other, well funded to the point that it can at any time wipe the indebtedness on the other. Would any bank manager lose his sleep over this?

“This, I am told is what the IMF found at the CBN and they said it is perfectly normal.
“As for his opposition to the USD 30 billion loan, I am aware that the Minister of Finance is responding to that.

“As a private citizen, I want to read his statement again. I thought that the borrowing is for projects that include the railway and electricity development in the country.”

Source: Punchng