Presidential spokesman says emir has 'got the facts wrong'

Says government has overdrawn its central consolidated account

Spokesman to president Muhammadu Buhari, Garba Shehu has responded to remarks made by the Emir of Kano, Sanusi Lamido Sanusi, that the CBN was illegally funding the Nigerian government.

Sanusi revealed that the CBN's lending to the government since Buhari came to power spiked from N1.5 trillion to N4.5 trillion.In the Emir's words;

The CBN-FGN relationship is no longer independent. In fact, one could argue their relationship has become unhealthy. CBN claims on the FGN now tops N4.7 trillion — equal to almost 50% of the FGN’s total domestic debt. This is a clear violation of the Central Bank Act of 2007 (Section 38.2) which caps advances to the FGN at 5% of last year’s revenues. Has CBN become the government’s lender of last or first resort?

In response to this, Shehu wrote;

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'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 development in Kano, his own city.

http://politicsngr.com/emir-kano-not-facts-right-garba-shehu/

See the man teeth sef
D person below Me might have something to say

is that tin chiken or eagle the person below me will have some thin to say

See japping

Baba don't disappoint we your followers

Long live Mr president

God bless federal Republic of Nigeria

sarrki:
See japping

Baba don't disappoint we your followers

Long live Mr president

God bless federal Republic of Nigeria

E no d easy for una at all.

Defending Buhari is a crash course.
Your numbers are declining day after day.

Its just lost followers like you and hungerbad running around with no tangible defence but screaming baba dont disappoint we ur followers.

My bro, just go low key and save urself the stress.

Let me leave the matter for the person below me....................

The gambari be like

baybeeboi:


E no d easy for una at all.

Defending Buhari is a crash course.
Your numbers are declining day after day.

Its just lost followers like you and hungerbad running around with no tangible defence but screaming baba dont disappoint we ur followers.

My bro, just go low key and save urself the stress.

Read my lips.

I am with Tinubu and not Buhari.

Garbage Shehu, spewing garbage as usual

HungerBAD:


Read my lips.

I am with Tinubu and not Buhari.

you are on a lost battle because the last time Tinubu comment on similar issue, he said he was with Buhari and APC. guy wake up

HungerBAD:


Read my lips.

I am with Tinubu and not Buhari.

Bro, Tinubu is not Buhari's problem...

Even Emir Sanusi has become an opposition to Buhari in many levels. Who knows whether he is fighting for his benefactor (Kwakwanso) who makes sure that he is installed the emir against other candidates.
Sanusi latest comment that CBN is illegally funding Buhari's government is damning and the NASS can easily seize on this to impeach Buhari.
Buhari is not a good politician by encouraging all this rancour and division within a party that just came into power last year.

Kwankwaso, Saraki and Sanusi are plotting Bubu's fall and novice are shouting Tinubu.
Buhari enemies are within his Northern Caliphate.
If for anything, Tinubu is only helping Buhari to retain power, just like he helped him to become the President.
Oyegun is clueless and has become a tool in the hands of Buhari's enemy

B4 nko mallam Garba wetin u 4 talk... But even though he may not b e accurate but he knows what he was saying...

HungerBAD:


Read my lips.

I am with Tinubu and not Buhari.

U don shift goal post?

D goal post sef no d get weight these days again.

Shehu said that Sanusi got his facts wrong but the same Shehu failed to counter Sanusi's assertion's with facts, instead he went on dishing out beer parlor analysis.

Someone with no facts at all is asserting that someone with facts got his facts wrong!

Garbar hasn't deny Sanusi's claims he only buttressed it. Only that the loan is secured with TSA.

Garba Shehu simply buttressed sanusi's claim with this press release, PMB led administration is setting a bad precedence...SMH

I Stand With Tinubu





#Atiku2019

We really have a big problem in our hands in this country. Imagine Mallam Shehu Garba claiming to have more facts than a former CBN governor on economic issues.

When SLS made a humongous claim that NNPC under GEJ failed to remit N20 trillion or so, he had all the facts then; but now that he has spoken out against the obvious and unnecessary mortgaging of the nation by PMB's intended $29.8 billion loan, you suddenly claim he doesnt have the real facts. ARRANT NONSENSE

Mallam Shehu Garba, since you claim that the TSA has more than N4.5 trillion in it, why not just use it and forget about borrowing from IMF ? OLODO GOVERNMENT.

Today they ll claim the TSA has saved trillions of naira in it, tomorrow they ll deny and say: the TSA is just a channel with no money in it.

"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."

Hmmmm!
You see politicians!!

Bombshell. But his facts where right when he was campaigning for a clueless 'regime'?

Even if Buhari had invested our National Treasury in MMM, things would av being far better than d way they're now.

Accusations and counter accusations.
Same old story.
We are just floating!!!

A mere propagandist arguing with an economic guru, a former CBN governor

HungerBAD:


Read my lips.

I am with Tinubu and not Buhari.

HungerBAD:


Read my lips.

I am with Tinubu and not Buhari.

Shuoh...bros...PMB and BAT no be thesame again?

I fear oh...

One by one una go fight yourselves..

We the masses will just siddon dey look una...

Like someone said earlier, its no longer easy to defend this government, they re getting everything wrong. Garba Shehu must say something no matter how dumb, that's his job

These people are always fast to counter any report against them....
How can you say Sanusi who supports Buhari didnt know what he was saying

HungerBAD:


Read my lips.

I am with Tinubu and not Buhari.

There you go then.
... and I thought your were for good governance, which Buhari represents.

We shall not be distracted.
Different spanners have been thrown at PMB, now they are trying to engineer enmity between him and Tinubu while hinting on a poxy mega party and Atiku.

But we shall prevail. This country must be cured of "in-your-face" corruption of the past.

afanide:
These people are always fast to counter any report against them....

How can you say Sanusi who supports Buhari didnt know what he was saying

Typical wailer mindset.
That's why you people will never see anything wrong with hero IB's cluelessness.
Fyi you can criticise anyone, and they have the right to reply in a matter of public interest.

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?

My submission is that the FG should never boast again of the monies accrued in the TSA since the money has already been spent to the tune of N4.5 trillion in collaterals.