Nigerian President inherited dead economy, Apex Bank under former leader printed money illegally – Soludo

By Tahiru Abba
Kanempress
24th November 2023

Anambra State Governor and former Apex Bank boss, Charles Soludo says that the current administration led by President Bola Tinubu inherited a dead economy from its predecessor.

Kanempress recalled that the Nigerian President Bola Ahmed Tinubu had also cried out that it inherited an almost bankrupt economy from the immediate past Muhammadu Buhari administration.

Soludo made the claim on Thursday during an interview on one of Nigeria’s private stations, Channels TV’s Politics Today.

The former Apex Bank boss called on citizens to be patient with President Tinubu’s government.

Soludo alleged that the Central Bank of Nigeria was illegally printing money, which according to him, contributed to the fall of the country’s currency.

The former CBN boss noted that the alleged illegal printing of money was a total violation of the 2007 Act governing the apex bank.

Soludo blamed the present economic situation in Nigeria on 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,” Soludo 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,” he said.

“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,” the former Apex Bank boss concluded.