News

Laolu Akande Describes Printing Of N22.7trn Under Buhari Economic Calamity

Eko Hot Blog reports that Laolu Akande, a former aide to ex-Vice President Yemi Osinbajo, emphasized the need to hold accountable those responsible for printing money during the tenure of former President Muhammadu Buhari.

Editor’s Pick

Akande said the printing of N22.7 trillion was an “economic calamity,” adding those responsible should “be made to answer in court.”

Speaking on Channels Television, the former chief spokesman of Osinbajo lamented that the matter might be swept under the carpet while urging President Bola Tinubu’s administration to take action beyond simply complaining.

He, however, pointed out that the decision of the Central Bank of Nigeria, CBN, to grant Ways and Means to the Nigerian government was not necessarily bad.

According to Akande: “We must ensure that this does not happen again, there must be consequences.

“Everyone that is involved in this calamity, which is an economic calamity, They must be made to answer in court. We don’t want a situation where the case has died, it is going to repeat itself.”

Akande noted that while there were fears about the “misbehaviour of the monetary institution” towards the end of Buhari’s government, he had no idea that “things were that terrible.”

“There was nobody in that administration that did not have an idea of how things were going…the shoddiness, the sloppiness, lack of patriotism,” Akande said.

Recall that the Finance Minister, Wale Edun had blamed the current hardship in Nigeria on the money printed during Buhari’s administration.

The Senate had previously committed to scrutinizing the N30 trillion ($66 billion) allocated through Ways and Means funding by the Buhari administration.