Emir of Kano criticises Buhari’s economic policy

chika ebuzor

August 25, 2016 5:44 AM

Sanusi Lamido Sanusi served as the Central Bank of Nigeria (CBN) Governor during Goodluck Jonathan's administration.

The Emir of Kano,

Sanusi said “With my background in the banking sector, and now a royal father, I can sit in my garden and make billions through forex market without sweat.

“This is how most of those you called billionaires made their money.”

The monarch, who also served as Governor of the Central Bank of Nigeria (CBN), called on the Federal Government to emulate the economic policies implemented by the Lagos state Governor, Akinwumi Ambode.

He said “As it stands today, Lagos’ role on the economic future of Nigeria is critical than what people think of the Niger Delta region.

“We are spending 30 to 40 percent of every Naira we earn servicing debt.

“The new borrowings were simply recycled into much higher recurrent expenditure. The GDP was growing largely due to consumers items.”

Sanusi said this on Wednesday, August 24, 2016, at the 15th Joint Planning Board and National Council on Development Planning.

The Emir also cautioned Buhari to retrace his steps or risk failing like the administration of Goodluck Jonathan.

The former CBN Governor also stated that we created the economic problems which we are facing right now.

READ: 'We created the recession we are in now' - Sanusi

He also urged Buhari’s administration to stop blaming Jonathan for the current economic challenges in the country.

The Emir of Kano concluded Nigeria became bankrupt due to foolish policies implemented by its leaders.

chika ebuzor