POLITICS

SANUSI WARNS AGAINST BANKRUPTCY_Ada Nkong

The former CBN Governor and Emir of Kano, Mohammed Sanusi II has warned Nigerians against impending bankruptcy.

Sanusi gave the warning during the third national treasury workshop held at the Kano State Government House on Wednesday.

He said factors including fuel subsidy, debt servicing, and demurrage among other economic policies are consuming revenue of the nation.

“In 2011, when I was CBN governor, we spent $8bn importing petroleum and spent another $8.2bn subsidising the product

“100% of what we earn in the oil sector went out to import petrol. You are treasurers, is this sustainable?

“The country will be bankrupted and we are heading to bankruptcy,” the Emir warned.



Advertisements

Categories: POLITICS

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.