Sanusi spoke without facts: my government has excess money – Buhari

The President has responded to Emir Sanusi when he lambasted the President’s handling of the nation’s monetary policies.

The FG claimed for this reason, Emir Sanusi did not speak with precision on the over drawing made by FG.

The Presidency also said the $30 billion loan being sought for will be used for massive infrastructural facelift.

Sanusi had at a function in Abuja on Friday asked President Buhari to drop the loan idea.

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He said the plan would worsen the economy and plunge Nigeria into unprecedented indebtedness.

Sanusi, however, advised government to invest more in economy and the private sector.

In his response, President Buhari admitted the FG had made withdrawals from the account but not the volume of N4.5 trillion as Sanusi alleged.

According to President Buhari, “With every respect to the Emir he doesn’t have his facts as far as those issues are concerned.

“The issue in CBN, that government has overdrawn its Central Consolidated Account is true, but the overdrawing is within limits.

“The overdraw does not exceed 1.5 trillion.

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“It is incorrect to say, as he did that the account was overdrawn by 4.5 trillion.

“Assuming Sanusi was correct, this government has money in excess the amount he mentioned in our TSA.

“Imagine that you are bank customer operating two accounts.

“Imagine that one is in the red and the other, well-funded to the point that it can wipe the indebtedness on the other.

“Would any bank manager lose their sleep over this?

“This, I am told is what the IMF found at the CBN and they said it is perfectly normal.

“As for his opposition to the USD 30 billion loan, I am aware that the Minister of Finance is responding to that.