Presidency blasts Emir Sanusi, Says He's talking without facts,

The Presidency has issued a stern reply to the condemnation of the President Muhammadu Buhari government made by Emir of Kano Muhammad Sanusi II on Friday, December 2.
Garba Shehu, a senior special assistant to the president on publicity affairs, said in series of tweets on his verified Twitter handle late on Saturday, December 3 that the Emir, his own spiritual leader, spoke without having the necessary facts.
According to him, all allegations made by Sanusi were half-baked in some cases and totally untrue in others.
He said: “With every respect to the Emir, you know he is my ruler, because I'm from Kano. 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. 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 & 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?

“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. 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.”

NAIJ.com recalls that Emir Sanusi had condemned the financial policies of the Buhari administration and accused the government of being illegally funded by the central bank. He also condemned the government for wrongly seeking for a foreign loan.

The former Central bank governor delivered the condemnations while speaking at a policy monitoring dialogue hosted by Savannah Centre for Diplomacy, Democracy and Development, at Transcorp Hilton Hotel in Abuja.

This Buhari's special adviser lacks knowledge about how banking operates. An account in red attracts high debit interest, and it is an indication of bad credit for the government. Buhari should know that such action compares him with Idi amin of Yuganda. He printed notes to run Yuganda's economy, which is comparable to over drawing a fed government account.