Presidency hits back at Sanusi Lamido, says he doesn’t have his facts

The Senior Special Assistant to the President Buhari on Media and Publicity, Mallam Garba Shehu hit back at the Emir of Kano, Sanusi Lamido Sanusi who had on Friday comment on Federal government overdrawn its Central Consolidated Account and condemned plans by President Muhammadu Buhari to borrow $29,960 billion for the country.

Garba Shehu after maintaining that the vocal ex-CBN Governor doesn’t have his facts as far as those issues are concerned stated that the issue in CBN, that government has overdrawn its Central Consolidated Account is true, but the overdrawing is within limits.

Nevertheless, he admitted that ‘the issue in CBN, that government has overdrawn its Central Consolidated Account is true, but the overdrawing is within limits.’

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”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?” he insisted.

He claimed that the presidency position is premised on he was told that the IMF found at the CBN which they said it is perfectly normal.

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”As for his opposition to the USD 30 billion loan, I’m 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.” he said.

 

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