…. thumbs down ways and means borrowing
Former Emir of Kano, Lamido Sanusi, has praised the Central Bank of Nigeria (CBN) for its actions toward achieving stability in the foreign exchange (FX) market.
Speaking at the MTN capital markets conference, Sanusi expressed optimism for a positive outlook before the end of the year.
Sanusi also criticized the CBN’s excessive ways and means lending to the federal government, noting its impact on inflation and the value of the Naira.
He highlighted the need to address structural issues related to the Nigerian National Petroleum Corporation’s (NNPC) lack of revenue remittances, emphasizing factors such as oil theft, onshore field investment, and the government’s move toward compressed natural gas (CNG).