"Inexperienced Boy Bought Private Jet Under Buhari": Sanusi Says Buhari Messed Up Nigeria's Economy
- Former CBN Governor Muhammadu Sanusi II has revealed that Nigeria's economy was in terrible shape under Buhari
- He said the country owes the CBN about N30 trillion and that boring is impossible presently
- Sanusi urged Nigerians to be patient with Tinubu's government as he said there may be more taxes coming
Former Governor of the Central Bank of Nigeria (CBN) and erstwhile Emir of Kano, Muhammad Sanusi II, said former President Muhammadu Buhari's administration mistreated the economy.
In a video message, Sanusi disclosed to Nigerians that sycophants took advantage of the system and an inexperienced boy from Kano owned a private under the past government.
Source: Getty Images
Nigeria's economy destroyed by excessive borrowing under Buhari
He stated that borrowing destroyed the country's economy, asking Nigerians to be patient with the government of President Bola Tinubu.
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Said said that some people asked him to intervene in the situation in Nigeria, stating that it is not the auspicious time to speak about the hardship Nigerians are experiencing.
According to him, Nigeria led a false life in the last eight years as the government borrowed from within and outside the country.
He revealed that the country currently owes the CBN about N30 trillion.
He said:
"The country's revenue in the last few years couldn't service debt. Debt service exceeded 100%. The government borrowed to service debts. No country can grow this way. The time will come when one cannot borrow anymore. Additionally, there will be nothing to pay debts.
More taxes may come, Sanusi says
The Kano-born economist and ex-banker said that people did not listen to them, and he will not blame Tinubu or say that he pushed Nigeria into difficulty.
Daily Trust reported that Sanusi said they would only speak when Tinubu errs, revealing that the government can no longer pay subsidies since it does not have the money.
He tacitly asked Nigerians to prepare for more taxes, saying borrowing is impossible.
"If the CBN printed more naira, the dollar would jack up to N1,500. We must suffer. When I was the CBN governor, it was N150. Today, it's somewhere around N900," Sanusi said.
"They treated the economy as they wanted and refused to listen to experts. In the last eight years, only sycophancy has succeeded. The sycophants bought dollars at N400 and sold N540. An inexperienced boy who had never worked anywhere owns a private jet."
Wake Up: Sanusi Lamido Sanusi sends important message to Nigerian youths
Legit.ng previous reported that on the 14th Emir of Kano, Sanusi Lamido Sanusi, has urged Nigerian youths to wake up to their responsibilities, ask questions, demand answers and hold public office holders accountable.
Sanusi, who is known for public criticism of government policies he found not to be good enough, said what many did not know was that he would have advised the officials privately for months before going public.
The News Agency of Nigeria reported that Sanusi, who is also the current Khalifah, Tijaniyat Movement of Nigeria, said this in Lagos on Sunday at a stage play titled “Emir Sanusi: Truth in Time”.
Source: Legit.ng
