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'You have your figures wrong’ – Presidency fires back at Sanusi

04 December 2016, 08:01

Abuja - The Presidency has replied a statement made by former Central Bank of Nigeria Governor, Sanusi Lamido Sanusi querying the policies of President Muhammadu Buhari.

The Emir of Kano also warned against borrowing $30bn from external sources.

 He said even if the Senate approved the loan, no foreign nation or financial institution would be willing to grant the country such a loan.

But in a reply on Saturday by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, the Presidency said Sanusi did not have all the facts on the issue.

He 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 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.

“But even assuming that he was correct. This is a government 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 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 their 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’m 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 development in Kano, his own city.”

- News 24

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