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Nairaland Forum / Nairaland / General / Politics / Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T (1090 Views)
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Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by NwaEzefuNaMba(m): 11:32am On Dec 04, 2016 |
President Muhammadu Buhari on Saturday said the Emir of Kano, Lamido Sanusi, spoke out of ignorance when he accused the present government of illegally overdrawing the country’s central consolidated account. The account, domiciled at the Central Bank of Nigeria, was said to have been overdrawn to the tune of N4.7 trillion by the Buhari administration, an act the traditional ruler said contradicted Section 38 (2) of the CBN Act. “CBN claims on the FGN now tops N4.7 trillion — equal to almost 50 per cent of the FGN’s total domestic debt,” Mr. Sanusi said. “This is a clear violation of the Central Bank Act of 2007 (Section 38.2) which caps advances to the FGN at 5 per cent of last year’s revenues.” Mr. Sanusi also attacked the federal government’s plan to borrow $30 billion from foreign lenders to fund the budget and build infrastructure. He said no one will lend Nigeria money at a time it is operating five different tiers of foreign exchange rates. Mr. Buhari responded through his media aide, Garba Shehu, on Saturday night, saying the former CBN governor “doesn’t have his facts as far as those issues are concerned.” The president admitted that he ordered a massive borrowing from the CBN, but said the limit had not been pushed. “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,” he said. The response was posted by Mr. Shehu on his Twitter page, and he said the government still had sufficient fund in the treasury single account to clear its loan from CBN. “But even assuming that he was correct. This is a govt 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 & the other, well funded to the point that it can at any time wipe the indebtedness on the other,” Mr. Buhari said. “Would any bank manager lose their sleep over this?” Mr. Sanusi had been attacking the Buhari administration’s economic policies for a while. On August 24, a week before Nigeria officially slipped into recession, the emir blamed the economiccrisis on the incoherent policies of the federal government, and warned that Mr. Buhari may end his reign in the same manner as President Goodluck Jonathan. http://www.premiumtimesng.com/news/headlines/217031-emir-sanusi-ignorant-buhari-replies-n4-7-trillion-overdraft.html |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by NwaEzefuNaMba(m): 11:34am On Dec 04, 2016 |
Just negodu onye na asi Na Sanusi di Ignorant of "activities in CBN" 3 Likes |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by agabaI23(m): 11:38am On Dec 04, 2016 |
So the treasury single account is now available to the FG? Thought they said the contrary sometime ago? |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by Sunnymatey(m): 11:43am On Dec 04, 2016 |
Just imagine Buhari talking when Sanusi is talking about economy. 5 Likes |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by Solowande(m): 11:44am On Dec 04, 2016 |
Bubu and his co-dullard are talking with dia ear and hearing with dia mouth. 3 Likes |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by SharkTank(m): 11:45am On Dec 04, 2016 |
Sanusi just like El Rufai has a sever case of mouth diarrhea |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by mkoabiola: 11:48am On Dec 04, 2016 |
U cant stop sanusi no matter wat He talks a lot but he knows better than uncle emefiele and aunty adeosun in economic matters 2 Likes 1 Share |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by Khd95(m): 11:49am On Dec 04, 2016 |
Sunnymatey:the same sanusi that accused alleged that billions of dollars were missing from NNPC,when gej was d president,but u lots called him names saying he was making false accusations ![]() ![]() now same sanusi has become saint, nd what ever he says is economically right,shame on u. |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by fastguy10: 11:50am On Dec 04, 2016 |
Like if it is President Buhari dat spoke out of ignorance Share if lamido sanusi spoke out of ignorance let's no who is nt talking wt sense 3 Likes 1 Share |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by Krossbow123: 11:50am On Dec 04, 2016 |
every little thing u will hear "we have excess money in TSA". if this is true, why borrow from both outside and within the country? why stress the CBN? #Atiku2019 |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by Nobody: 11:51am On Dec 04, 2016 |
Bubu will not kill person. A military dog telling and economist is ignorant of the economy. 4 Likes |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by Khd95(m): 11:53am On Dec 04, 2016 |
mkoabiola:just like how he know bettr thann okonjo nd diezani shey. Swallow ur pride nd admit it ![]() ![]() |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by OnichaIgbo(m): 11:59am On Dec 04, 2016 |
Buhari is what we call scalar quantity in physics; He has magnitude but no Direction. It still beat my imagination how yorubas accepted and supported this El- clueless come El-dullardin.nho! 4 Likes |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by Nobody: 12:12pm On Dec 04, 2016 |
Na lie buhari. Sanusi dey talk true 3 Likes |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by EternalTruths: 12:18pm On Dec 04, 2016 |
Afonjas come and support Sai Baba ![]() 3 Likes |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by dunkem21(m): 12:22pm On Dec 04, 2016 |
![]() 2 Likes |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by Young03(m): 12:29pm On Dec 04, 2016 |
I don't have anything meaningful to say I better keep mute |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by Mynd44: 12:32pm On Dec 04, 2016 |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by Abeymills(m): 12:39pm On Dec 04, 2016 |
Buhari remember one thing emirs will remain until death but u n ur useles senseless clueless regime will expire |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by Alanzazani: 12:58pm On Dec 04, 2016 |
na wah there is money in the TSA and everything is grinding to a halt. Do these peoole know how USA came out of recession? thy inhljected funds into thier economy, stimulated the small scale manufacturers so jobs were created by the private sector. these ones are increasing taxes and impoverishing the people the more. Why didnt they encourage the establishment ofidular refineries before removing duel subsidy. the boys in the creeks cam refine crude easily to give diesel and pms, then the governmnt can buy off the remaining substrate to extract bitumen, petroluem jelly, tar and the rest. but as a military government everything is done through force and the barrel of the gun. thy vlams miitants for sabotaging pipelines. why wont they, when the same government takea proceeds from thier land to go and develop regions in the north and can't evem have the courtesy to appreciate them. but rub it in thier face that there are 97% and 5%. they can keep acting like they would be there forever. it is almost two years. they will be shown power is transient aftet 2019. wicked government |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by OnichaIgbo(m): 1:55pm On Dec 04, 2016 |
Mynd44: Gerarahere mehn! Kam hapu kwa ifu ukwu gi here again. |
Re: Emir Sanusi Is Ignorant, Buhari Replies On 'N4.7 Trillion' Overdraft - Premium T by dunkem21(m): 1:58pm On Dec 04, 2016 |
.. |
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