“Buhari Left Empty Treasury”: Southwest APC Leader Osoba Reveals Why Tinubu Must Borrow
- More allegations have been levelled against the immediate past administration of ex-President Mohammadu Buhari
- In a live interview, the former governor of Ogun State, Olusegun Osoba, said the past administration emptied the national treasury
- His claims come weeks after the national security adviser, Nuhu Ribadu, attested to the same allegation
Legit.ng journalist Segun Adeyemi has over 9 years of experience covering political events, civil societies, courts, and metro
Olusegun Osoba, the ex-Governor of Ogun State, has asserted that President Bola Tinubu inherited an empty treasury from President Muhammadu Buhari, necessitating borrowing to address the financial shortfall.
Osoba, speaking on Arise Television, emphasised that Nigerians endured economic challenges in 2023 but should anticipate an improved standard of living in 2024.
Source: UGC
He highlighted Tinubu's efforts to alleviate widespread hardship, mentioning that Nigeria was on the brink of a crisis when Tinubu assumed office on May 29.
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As a prominent member of the All Progressives Congress (APC), Osoba revealed recent discussions with the president, affirming Tinubu's awareness of the current difficulties faced by Nigerians.
As quoted by ThisDay, he said:
“When the treasury was empty and the last administration was borrowing to pay salaries, the whole place was empty. What else can you do other than in the meantime, borrowing to fill the gap?
“That does not mean that the culture of borrowing will go on forever. You met an empty treasury.
“Talking of borrowing, when your pocket is empty, you have to go to your bank to shore you up for some time. It depends on how you manage that situation."
Osoba recounts conversation with Tinubu
He reported that recently, he engaged in sincere discussions with the president without seeking any favours at his age of 84.
Osoba advised Tinubu to address the substantial amounts of money outside the formal banking system.
During a meeting with the president on Christmas Day, he proposed that anti-corruption agencies should permit banks to accept deposits without rigorous scrutiny of the funds' sources.
He believed this would motivate the considerable funds outside the banking sector to return to official channels.
Tinubu to give crucial executive order
Osoba mentioned that the president planned to issue an executive order facilitating Nigerians' bank deposits.
Once implemented, individuals hoarding money at home might be encouraged to retrieve and deposit it in banks.
Osoba expressed concern about the scarcity of the local currency, leading people to save in foreign denominations like $20 and $50 bills.
He also criticised the trend of scarce naira appearing at party venues, where hawkers sold the notes for a commission to those openly displaying and spraying the money.
Tinubu suspends NSIPA boss, Halima Shehu
In another report, Halima Shehu, the CEO and national coordinator of the National Social Investment Programme Agency (NSIPA), has been temporarily removed from her position.
President Bola Ahmed Tinubu sanctioned the suspension, which was officially announced on national television during a live broadcast on Tuesday, January 2.
The specific cause for her suspension remains unverified, considering her recent appointment to the role just a few months ago.
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Source: Legit.ng
