Kano Emir Sanusi accuses National Assembly of failing to enforce CBN borrowing limits

The Emir of Kano, Muhammadu Sanusi II, has accused the National Assembly of failing to execute its law work by allowing successive national governments to breach laws regulating borrowing from the Central Bank of Nigeria (CBN).

Speaking connected the request for stronger institutions and accountability implicit the weekend, the erstwhile CBN politician said lawmakers failed to cheque the enforcement contempt wide ineligible limits connected authorities borrowing from the apex bank.

Emir Sanusi explained that the instrumentality permits the Federal Government to get lone up to 5 per cent of the erstwhile year’s gross from the CBN, but alleged that the proviso was repeatedly violated without immoderate enactment by the legislature.

“The instrumentality said you cannot lend much than 5 per cent of past year’s revenue. That instrumentality was breached with impunity. Where was the National Assembly? For 8 years, the National Assembly was silent.”

He argued that the legislature cannot relation arsenic an autarkic limb of authorities if it fails to clasp the enforcement accountable.

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