Printing N22.7trn Under Buhari Was Economic Calamity – Laolu Akande Says

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Printing N22.7trn Under Buhari Was Economic Calamity – Laolu Akande Says

Laolu Akande, a former aide to ex-Vice President Yemi Osinbajo, has called for the punishment of those responsible for the printing of money during the administration of former President Muhammadu Buhari.

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 resolved to investigate N30 trillion, $66 billion, in Ways and Means funding spent by the Buhari administration.

It said the funds were mismanaged and contributed to the country’s food and security issues.

Edun confirmed plans to audit how the funds were expended and pledged to use revenue generated from a recent N7 trillion, $15 billion.