Faults Former Emir’s Past at First Bank, CBN for Nation’s Economic Woes
The Northern Patriotic Coalition for Democracy (NPCD) has condemned former Emir of Kano, Muhammadu Sanusi II, for his criticism of President Bola Ahmed Tinubu’s economic policies, describing his statements as careless and misinformed.
The group said Sanusi lacks the moral justification to advise the government, accusing him of exacerbating the country’s economic problems.
According to the NPCD, Sanusi’s tenure at First Bank was marred by questionable loan approvals that contributed to the banking crisis, while his policies as Central Bank of Nigeria Governor were inconsistent and often controversial.
Speaking at a press conference on Friday in Abuja, its convener, Mohammed Yahaya, described Sanusi’s comments as “unhelpful” and “indicative of a lack of genuine interest in the advancement of Nigeria.
The NPCD expressed support for President Tinubu’s economic reforms, including the removal of fuel subsidies and unification of exchange rates.
The group noted that these reforms have received widespread support from global economic experts and institutions like the World Bank and IMF.
“Firstly, let us recognize that President Tinubu has taken bold steps to correct decades of economic mismanagement. The removal of the fuel subsidy, while initially challenging, was a necessary move to free up resources for critical infrastructure and social investments which has further helped mitigate its impact on the vulnerable populations
“The unification of the exchange rate has also been widely praised by global financial institutions, including the World Bank and IMF, as a step toward long-term economic stability.
“Secondly, it is worth noting that these reforms have received widespread support from global economic experts. The World Bank has projected positive growth for Nigeria’s economy in the coming years, affirming that we are on a path to recovery.
“Evidently, the Tinubu administration is steering Nigeria in the right direction, despite the temporary pains of adjustment. It is no news that President Tinubu’s administration has demonstrated its openness to dialogue with stakeholders with meaningful contributions across various sectors.
“This government has prioritized transparency and inclusivity, ensuring that the voices of ordinary Nigerians are heard in shaping policies that directly affect their lives. Additionally, efforts are underway to communicate these policies effectively in local languages, ensuring that all Nigerians understand the benefits of these reforms.
“Rather than acknowledging these efforts or contributing positive ideas to enhance their effectiveness, Sanusi opted for a cynical and self-serving narrative. In contrast, what has Sanusi offered? Criticisms that are devoid of actionable solutions and reflect a parrot-like analysis of Nigeria’s economic situation.
“He speaks of problems but offers no roadmap for resolution. This pattern of empty rhetoric is unhelpful and unbecoming of someone who claims to be a patriot. We believe that such inconsistency raises serious questions about the integrity of his arguments.
“Does Sanusi have a personal grudge against the policies, or is his criticism motivated by anything else? His recent comments give a clear picture of being more about settling personal scores and furthering partisan goals than they are about the actual content of economic reforms.”
Yahaya urged Sanusi to abandon his “cynical criticisms” and engage constructively with the government to address Nigeria’s challenges.
Yahaya also called on Nigerians to reject “divisive counterproductive rhetoric” and support President Tinubu’s leadership, which they believe is taking bold steps to correct decades of economic mismanagement.
