The Central Bank of Nigeria has been reportedly indebted to the tune of more than N30 trillion.
This was revealed by form CBN Governor and deposed Emir of Kano, Muhammadu Sanusi.
Sanusi made the revelation while defending the economic policies of President Bola Tinubu.
Exonerating Tinubu of wrongdoing, Sanusi blamed the administration of former President Muhammadu Buhari for the economic woes Nigeria is faced with.
Speaking at a virtual religious event on Sunday, September 3, Sanusi said Nigerians calling on him to speak on the current economic hardship in the country specifically wanted him to criticise President Tinubu.
He added that his many advise to the Buhari administration were ignored particularly when he spoke on how to rescue the country from its economic woes.
Sanusi stressed that the current administration made the right decision with the removal of the fuel subsidy, saying it would save the Nigeria from the bondage of debt the country was plunged to by Buhari’s administration.
His comment reads in part:
“If I am to be fair and just to President Bola Tinubu, he is not to blame for the current hardship; for eight years, we were living on a fake lifestyle with huge debt from foreign and domestic debts. The Central Bank of Nigeria owes over N30 trillion, which resulted in debt service surpassing 100 per cent.”