Anambra Governor Charles Soludo Criticizes Economic State Inherited by President Bola Ahmed Tinubu.
In a recent interview on Channels Television’s ‘Politics Today,’ Anambra State Governor, Professor Charles Soludo, expressed his view that President Bola Ahmed Tinubu inherited what he termed a ‘dead economy‘ from his predecessor, Ex-President Muhammadu Buhari.
Governor Soludo characterized the economic situation inherited by the current administration as a “dead horse that was still standing, and people didn’t know it was dead.” He highlighted the magnitude of challenges faced by the government, urging Nigerians to comprehend the seriousness of the issues.
Buhari Govt looted Nigeria into bankruptcy; no money for Tinubu to run country: NSA Ribadu
Soludo used the metaphor of pouring water on a rock to illustrate the slow progress in addressing these challenges, emphasizing that immediate results should not be expected.
He stated, “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.”
During the interview, Soludo, who served as the Governor of the Central Bank of Nigeria from 2004 to 2009, accused the Central Bank of Nigeria (CBN) of engaging in illegal money printing.
I successfully tackled insecurity, employment, economy: Buhari Replies to Tinubu’s Accusations
He referenced his involvement in drafting the 2007 Bank Act, which included a specific clause to prevent the CBN from excessively lending to the Federal Government, limiting the lending to no more than 5% of the previous year’s actual revenue.
Expressing disappointment, Soludo asserted that the CBN had consistently violated the stipulations outlined in the 2007 CBN Act, leading to what he described as continuous and unlawful money printing. He criticized the CBN’s practice of crediting the government’s account with increasing amounts, stating, “When you continue to credit the account of the government, 1 trillion people shouted, 2 trillion, 10 trillion, 15 trillion, and 20 trillion, and we kept going.”
