Saturday, 3 December 2016

“No Financial Institution Will GrantNigeria $30bn Loan” – Sanusi

A former governor of Central Bank of
Nigeria, Alhaji Sanusi Lamido Sanusi on
Friday in Abuja, advised President
Muhammadu Buhari to jettison the
proposed plan to take $30 billion foreign
loan because of its grave consequences.
According to him, even if the Senate
approves the loan, no foreign nation or
financial institutions would be willing to
grant the request.
Sanusi, who is also the Emir of Kano,
threw the challenge in his paper entitled:
“A plan to restore confidence, direction
and growth”, during a policy dialogue
organised by an economic think tank,
Savannah Centre for Diplomacy,
Democracy and Development.
The ex-CBN governor argued that for a
nation that has five exchange rates, it
would be difficult for such request to scale
through.
He said since the nation’s foreign exchange
lacked credibility, the Federal Government
should embrace private sector investments
as means of boosting the economy out of
recession.

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