The Presidency has reacted to the statement attributed to the Emir of Kano, Sanusi Lamido Sanusi that government has overdrawn its Central Consolidated Account.
Emir Sanusi had accused the President Muhammadu Buhari government of overdrawing from the consolidated accounts 4.7 trillion Naira.
Special Assistant to President Buhari on Media and Publicity, Mallam Garba Shehu challenged Emir Sanusi to get his fact right before spilling his ignorance in the public domain.
Mallam Shehu maintained that Sanusi doesn’t have his facts as far as those issues are concerned.
Reacting to Sanusi’s comments, he 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.
Emir Sanusi had condemned the proposal by President Buhari to accept a loan of almost USD 30 billion which will be spent on infrastructure only in northern Nigeria.
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