What Tinubu Inherited – Soludo Opens Up With Stunning Revelations

What Tinubu Inherited – Soludo Opens Up With Stunning Revelations

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“This economy inherited a dead economy. From a macroeconomic point of view, this government inherited a dead horse that was still standing and people didn’t know it was dead,” the former CBN governor stressed.

“Because you can’t pour water on a rock and not expect the rock not to be wet, there are humungous challenges and I think it is important that Nigerians understand this and it is not a tea party.”

“We must realise where we are coming from,” he said.

“We sat here in this country and  saw  the monetary authorities literally printing money, illegally I must say, because I superintended the development of  drafting of the 2007 Bank Act.”

“And to prevent us from where we are today, that is why we had an explicit clause there that prevents Central Bank  from lending recklessly to the Federal Government.

“That you can not grant to the Federal Government more than 5 per cent of the previous year’s actual revenue.”

“We all sat here and saw how the CBN brazenly, illegally violated that law year after year and kept on printing money,” the governor said.

“When you continue to credit the account of government, one trillion people shouted, two trillion,10 trillion, 15 trillion and 20 trillion and we kept going.”

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