Chukwuma Soludo, governor of Anambra, says the
administration of President Bola Tinubu inherited a dead economy.
Soludo spoke on Thursday during an interview on Channels
Television.
The Anambra governor said Nigerians witnessed how the
Central Bank of Nigeria (CBN) was printing money “brazenly and illegally” under
the previous administration.
Soludo said certain provisions of the CBN ACT 2007, which
were implemented during his time as the governor of the apex bank, limited the
advances the bank could give to the federal government.
He accused the management of the CBN under the previous
administration of violating the act.
The former CBN governor described the economy inherited by
the Tinubu administration as a “dead horse” that is still standing.
“We saw the CBN brazenly and illegally violated that act
(referring to the CBN act) and kept printing money,” Soludo said.
“We sat here in this
country and saw the monetary authorities literally printing
money, illegally I must say, because I superintended the development of drafting of the 2007 Bank Act.”
“And to prevent us from where we are today, that is why we
had an explicit clause there that prevents Central Bank from lending recklessly
to the Federal Government.
“That you can not grant to the Federal Government more than
5 percent of the previous year’s actual revenue.
“This particular government inherited a dead economy. From a
macroeconomic point of view, this government inherited a dead economy like a
dead horse that is still standing.
“But people did not
know it was dead. You cannot pour water on a rock and expect that the rock will
not be wet.
“There are humongous challenges and I think it is important
that Nigerians understand this and it is not a tea party.”
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Soludo, if Tinubu inherited dead economy, what did you inherit in Anambra? Are you also aware that Tinubu was the leader of APC government for the past 8yrs? If he cannot deliver, let him go. We are simply tired of these excuses.
ReplyDeleteTALKING IN THE NONSENSE, TALKING IN THE RUBBISH, TALKING IN THE THINGS THAT MAKES NO SENSE
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