Soludo Condemns The Use Of Central Bank of Nigeria As The President’s ATM

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A former Governor of the Central Bank of Nigeria (CBN), Professor Charles Soludo accuses former President Goodluck Jonathan of overstepping his boundaries in the management of the country’s apex bank. Soludo an appointee of former President Obasanjo compared Jonathan’s interference in the operation of CBN to the Idi Amin’s movie that depicted the dictatorial leadership of the former Ugandan President, Idi Amin. During an interview in the current Business Edition of The Interview, Souldo said Jonathan used the CBN freely as his “ATM.”

Soludo lamented that it is a risky practice that is capable of ruining the economy. He said, “imagine a scenario where a president can order the CBN to create an intervention fund for national stability and CBN literally ‘prints’ say, N3 trillion, and doles it out cash to the Presidency to prosecute an election campaign or for just about anything he fancies. It is a scary thought.”

 

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