As Emir of Kano, Muhammadu Sanusi II, shared via his official Instagram page. Read below...
"When
the minister is there, you tell them, “You know, Hon. Minister, Nigeria
is very lucky to have you in office.” No! You tell the minister that
you are doing well, but, you know there are these areas that you must
change. If a policy is wrong, it is wrong. Nothing will make it right.
And it has to be changed. So, this is what we did. Look at real sector
wages. It was not just Nigeria, it was all over Africa. Look at
sovereign debt fuelling growth. If you take the example of an
individual. You happen to know bank MDs and you can make a few phone
calls and get loans. You borrow N1 billion here today and build a very
nice mansion in Abuja. You borrow another N1 billion and let your family
go out on first class ticket as you are travelling all over the world.
You borrow another N5 to N6 billion and buy a private jet. We have very
many people in Nigeria who you think are very rich. But, who are really
bankrupt, because everything about them are being financed by bank
debts. When one debt matures they have enough connections to call
another bank, borrow and refinance that debt. They are not earning
anything. They have private jets. They have yachts. Their families
travel first class. They go abroad and stay in the most expensive
hotels. It happens. And it is happening today.
What do you think
of those people? When you think about such people, do you think they
are foolish people? Or do you think they are wise people? So, what would
you say of a country that does this? So, you feel growth by borrowing
money, pay salaries, people spend money on pure consumption spending,
nothing is produced. It’s fine. It’s short term. But, it is not
sustainable. How much can you continue to borrow and consume without
producing?"
50 comments:
Another empty statement from Nigeria number 1 problem.
MR MAN WHEN ARE U BRINGING BACK 500 BILLION U STOLE IN CBN HUH?
butcher like u.
Can this rubbish statement change ur hatred on Christians and another tribe huh?
Freeborn wept!
#sad indeed
Another empty statement from Nigeria number 1 problem.
MR MAN WHEN ARE U BRINGING BACK 500 BILLION U STOLE IN CBN HUH?
butcher like u.
Can this rubbish statement change ur hatred on Christians and another tribe huh?
Freeborn wept!
#sad indeed
Where is Ben Murray Bruce, The Emir is referring to people like you.
Trust SLS to say the bitter truth, always raising salient points. Banks using the deposits of the poor and average Nigerians to finance the luxury lifestyle of few Nigerians.
. ~BONARIO~says so via NOKIA LUMIA
Crazy man
Tory
Noted
@Sanusi,some of us already know this fact. Even you, you are also indicted in this. You guys you tax payers money esp the poor one to live 'large'. Now FG is talking about increasing taxes in some other areas or commodities so that you guys will continue to 'enjoy'. But you know what? i don't envy you guys. I will leave a debt free like and enjoy the life like Bill gate and mark zucks are doing.
So true. Linda take note!
Surely this is Sanusi's Sala gift to Buhari.
Mr Sanusi talks nonsense again.
Sanusi gave 100 million Naira of our commonwealth to his brothers after they attacked each other. No one punished him for it. Sanusi has a pending corruption case in a federal court yet they crowned the criminal king. He supported the criminal gang of Amaechi, Tinubu, Fashola, Buhari etc. Abeg give us a break. Only in nigeria.
Hmmmmmmm...
...merited happiness
GEJ's regime described
Hmmmmmmmm ok
TRUE
-D great anonymous now as Vivian Reginalds
You so called "crazy one"......what's the fun in this sort of commenting? And you freeborn scum......do you just comment or because of hunger or you think through what you type?
THIEF MAN RETURN WHAT YOU STOLE AND LIST THE NAMES OF YOUR DIFFERENT STYLE OF THIEVERY GUYS, THIEFING EVERYWHERE, DIFFERENT FORMS OF STEALING, DIFFERENT LEVELS OF STEALING, THIEFS AND THIEFTS ALL OVER, THIEF THIEF THIEF, THIEF EXPOSING THIEF, THIEF COMMENTING, EVERYBODY THIEF, NOBODY HOLY PASS, JUST FUCK OFF ALREADY YOU ALL
Are u crazy or what?
Your highness, sir, aren't still insinuating that the present government have neither good visions nor plans? Are you not suggesting that Jonathan's sovereign wealth fund initiative should be supported. Also you're systematically endorsing Jonathan's administration as more visionary. Well, sir, na small, small una go take praise Jona later oo
Your highness, sir, aren't still insinuating that the present government have neither good visions nor plans? Are you not suggesting that Jonathan's sovereign wealth fund initiative should be supported. Also you're systematically endorsing Jonathan's administration as more visionary. Well, sir, na small, small una go take praise Jona later oo
You're a sad and lonely fellow..I can see it in your comments.Thank God for this blog,I wonder what you would have done with your life.
See who is talking... Kettle calling pot black! Practice what you preach Monarch!!!
See who is talking... Kettle calling pot black! Practice what you preach Monarch!!!
Linda please remove this comment. Shouldn't have been enabled in the first place.
MUMU TALK. Thank goodness he decided to look like a human being not some masquerade.
You know you are Crazy for using such amount of space to type rubbish.
Your unguarded and reckless statements are giving you a reputation.
It's people like you who expect a lot for doing nothing.
You're so right!
Emir sanusi also said sometime ago that nig billionaires mostly made it by forex trading. So,ovrr to theyouths! Browse or google firex training on the web
GOOD TO SEE
AUNTY LINDA 👩
Hmmm
True talk here...#onMYway...
Pls tell this good for nothing man.Am so short of words cause don't even know where to start from.
Couldn't believe it when the finance minister said we spend a whopping 90% of our budget on recurrent expenditure. No country can develop when u spend such a huge sum at d detriment of capital expenditure. We have to trim that figure and our bloated government is a good place to start. All 36 states and their house of assembly draw from the federal pot. Very unsustainable.
You are so so empty pls kindly tell Buhari that his stupid policy on Foreign exchange, especially closing Domiciliary accounts, restriction remittance from the diaspora, which accounts to about $24billion a year, scrapping Jonathan’s Agriculture, Youth empowerment, Graduate conversions polices is part of what is killing the country.Former CBN governor my foot.
I tink u r mentally disturbed....go for help idiot!
You have a point. But you were CBN governor, what effort did you make to change the attitude of government to spending. You were in a position you could have used to effect some change but you were donating money anyhow to northern states and Universities that gave you frivolous awards instead of giving grants to manufacturing industries..........please, if you have any advice, tell it to Buhari or face your throne
This we already know, maybe we know better now. Thanks for sharing though. We remember the days of Cecilia Ibru with (oceanic) bank security fraud and non functional loans given to the affluent who live off the poor masses' bank savings by certain commercial banks.
This guy/monach is a Fraud. He might be referring to himself, his extended Family in Highbrow Maitama, Abuja. They all Live like bourgeoisie yet do not have any hustle, Nigerians are never truthful. I see his people in Abuja with some of the Best Cars. Sanusi, stop fooling Nigerians. Put your house in order First
Nawa ooo which story we go take self
A Rich Country,but Poor People. You can become a Landlord at Magboro. A three Bedroom flat at 8.5million Naira. If u pay 4million Naira first,you get ur Certificate of Occupancy and will pay the rest within four years. Contact us on 08052467442 for more details.
Sanusi Story! Story!!
Stop blabbing abeg
Mr. Lamido Sanusi Lamido it is better to borrow from Banks than to steal Nigeria Central Bank blind and use the stolen money to buy a traditional throne then pretend to be better than every other person.
This pedophile Nigeria Central Bank robber and Kano throne snatcher should shut his trap. He is an eye-sore that should stop upsetting honourable people
Why are you permanently sad @ "# sad indeed"?. Even when you are eulogizing people you are sad about it. You need deliverance.
U nailed it Bonario. I pray d present CBN governor learn from this man. It takes a courageous man to challenge the so called rich, mighty and the powerful if this country called Nigeria
He tried his best but was frustrated out of office with the claim that he is an apc member, anti government etc. Remember he told d Senate committee on finance that the national assembly alone consumes 25% of d budget and wast even asked by senator Bello kanti if he love his job. It was live on air. Think brother. The man is a fearless man and say the truth when dealing with economic matters.
This bonario is too blinded by APC induced stupidity to see clearly... The ben Bruce you mentioned, are you so blind that you cannot see his investments? This was a man that singularly brought cinema culture to Nigeria. By cinema culture, i do not mean those old Pen Cinema in Agege or the other one in Yaba that used to show ancient Indian and Chinese films. I mean proper cinemas. His cinemas even led to the upgrade of Nollywood such that they now shoot movies good enough for cinemas, whereas they just used to shoot for home videos. Nollywood even now has movie premiers. Their films are now good enough to participate in international film festivals. this was the exclusive preserve of Mali and very few other African countries. Bonario, drop that your APC induced stupidity so you go fit see road. Pschiew!!
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