The Presidency has fired back at the Emir of Kano, Muhammadu Sanusi 11 over his recent criticisms of President Muhammadu Buhari’s handling of Nigerian economy.
Emir Sanusi had on Friday in Abuja, said with five exchange rates, Nigeria cannot go to the international market to borrow.
According to him, “I can tell you for free, if the Senate today approves that we can borrow $30 billion, honestly, no one will lend us.
“If it is approved, i will like to see how you will go to the international market with an economy that has five exchange rates.”
But, Senior Presidential Media Aide, Garba Shehu, Saturday night replied the respected Emir, saying he doesn’t have facts about the issues he raised.
Garba’s words, “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 N1.5 trillion.
“It is incorrect to say, as he did, that the account was overdrawn by N4.5 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.
“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 $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 and electricity development in the country.”
