<h4>Former President Buhari And His Team</h4>
<p><strong><a href="https://openlife.ng/">OpenLife Nigeria</a> </strong>reports that Anambra State Governor, Professor Charles Soludo, has said that the immediate past administration of President Muhammadu Buhari paralyzed Nigeria’s economy.</p>
<p>Soludo made this remark on Thursday while commenting on the policies of the Central Bank of Nigeria (CBN) in an interview on Channels Television’s Politics Today programme.</p>
<p>The former Central Bank governor described the Nigeria under previous administrations as a dead horse that was still standing and people didn’t know it was dead.</p>
<p>Soludo who served as CBN governor under the administrations of Olusegun Obasanjo and Umaru Yar’Adua added: “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.”</p>
<p>He expressed disappointment that President Bola Tinubu-led government inherited a dead economy from its predecessors.</p>
<p>When he headed the central bank from 2004 to 2009, Soludo explained his role in imposing restrictions on monetary systems and charged the CBN with money printing without authorization.<br />
“We must realise where we are coming from,” he said.</p>
<p>“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.”</p>
<p>“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.</p>
<p>“That you can not grant to the Federal Government more than 5 percent of the previous year’s actual revenue.”<br />
<a href="https://www.vanguardngr.com/">He maintained that the CBN failed to comply with the 2007 CBN Act, adding that the current monetary trajectory was avoidable in the first place.</a></p>
<p>“We all sat here and saw how the CBN brazenly, illegally violated that law year after year and kept on printing money,” the governor said.</p>
<p>“When you continue to credit the account of government, one trillion people shouted, two trillion,10 trillion, 15 trillion and 20 trillion and we kept going.”</p>

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