Anambra State Governor, Charles Soludo, has defended the country’s current situation, saying that President Bola Tinubu’s administration inherited a dead economy.
Soludo made this known on Thursday while commenting on policies of the Central Bank of Nigeria (CBN) in an interview on Channels Television’s Politics Today programme.
The former governor of CBN slammed the apex bank for illegally printing money in total violation of the 2007 Act governing the financial institution.
He said: “We must realize where we were coming from. We sat here in this country and saw the monetary authorities literally printing money. And to prevent us from getting to where we are today, that was why we had an explicit clause that prevented the Central Bank from landing recklessly, granting ways and means to the federal government.
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“We explicitly put into the law that you can’t grant the federal government more than 5% of the previous year’s actual revenue. And that so granted must be retired by the end of the year in which it was granted. And when the federal government fails to retire, the central bank is forbidden by that law from further advancing ways and means. That was the law 2007 act of the Central Bank.
“I said it before. This particular government inherited a dead economy from a micro economic point of view, this government inherited a dead horse that was seen standing but people didn’t know that it was dead. I think it’s important for Nigerians to understand this.”
