Governor Charles Soludo of Anambra State has said that the administration of President Bola Ahmed Tinubu inherited a dead economy. The former governor of the Central Bank of Nigeria (CBN) said part of the problem was that the apex bank was illegally printing money in total violation of the 2007 Act governing the financial institution. Soludo made this assertion on Thursday while commenting on policies of the Central Bank of Nigeria (CBN) in an interview on Channels Television’s Politics Today programme.
“This economy inherited a dead economy. From a macroeconomic point of view, this government inherited a dead horse that was still standing and people didn’t know it was dead,” the former CBN governor stressed.
“Because you can’t pour water on a rock and not expect the rock not to be wet, there are humungous challenges and I think it is important that Nigerians understand this and it is not a tea party.”
Soludo ascribed the present economic situation in the country to alleged recklessness of the previous government, describing the economy it left behind as a dead horse.
“We sat here in this country and saw the monetary authorities literally printing money,” He said.
“And to prevent us from getting to where we are today, that was why we had an explicit clause that prevented the Central Bank from lending recklessly, granting ways and means to the federal government.
“This particular government inherited a dead economy from a micro economic point of view; this government inherited a dead horse that was seen standing but people didn’t know that it was dead. I think it’s important for Nigerians to understand this.”
