Soludo Blames Buhari for Nigeria’s Economic Woes, Accuses CBN of Illegal Money Printing

Former governor of the Central Bank of Nigeria (CBN), Charles Soludo, has slammed the Muhammadu Buhari administration for leaving behind a “dead economy” for its successor, President Bola Tinubu.

Soludo, who is also the governor of Anambra State, made this remark on Thursday during an interview on Channels TV’s Politics Today.

Soludo said that the Tinubu government inherited a “dead horse” that was seen standing but people didn’t know that it was dead. He attributed the current economic challenges in the country to the alleged recklessness and mismanagement of the previous government.

He said that the Buhari administration violated the 2007 Act governing the CBN by allowing the apex bank to print money recklessly, which led to the depreciation of the naira.

He said, “We sat here in this country and saw the monetary authorities literally printing money. And to prevent us from getting to where we are today, that was why we had an explicit clause that prevented the Central Bank from lending recklessly, granting ways and means to the federal government.

“This particular government inherited a dead economy from a micro economic point of view; this government inherited a dead horse that was seen standing but people didn’t know that it was dead. I think it’s important for Nigerians to understand this.”

Soludo called on Nigerians to be patient with the Tinubu government, saying that it is trying to revive the economy and implement reforms. He also urged the CBN to adhere to the law and stop printing money without due process. He said that the CBN should focus on its core mandate of ensuring price stability and financial system stability.

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