The Anambra State, Prof Charles Soludo, says President Bola Tinubu administration inherited a dead economy from its predecessors.
Soludo made this claim on Thursday while commenting on policies of the Central Bank of Nigeria (CBN) in an interview on television.
“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.”
While explaining his role in putting curbs on monetary structures when he headed the apex bank between 2004 and 2009, Soludo accused the CBN of illegally printing money.
“We must realise where we are coming from,” he said.
“We sat here in this country and saw the monetary authorities literally printing money, illegally I must say, because I superintended the development of drafting of the 2007 Bank Act.”
“And to prevent us from where we are today, that is why we had an explicit clause there that prevents Central Bank from lending recklessly to the Federal Government.
“That you can not grant to the Federal Government more than 5 per cent of the previous year’s actual revenue.”
