Breaking: Nigeria on the verge of bankruptcy – Emir Sanusi

Former Central Bank of Nigeria governor and current Emir of Kano, Muhammad Sanusi 11 said Tuesday that that Nigeria was close to bankruptcy as a result of adverse economic policies such as petroleum products subsidy and electricity tariffs, according to the Nation Newspaper.

Sanusi said at the ongoing 3rd National Treasury Workshop organied by the office of the Accountant General of the Federation at overnment House, Kano that President Muhammadu Buhari should cancel subsidy on petroleum products and electricity tariffs to stabilise the economy.

Sanusi said that “the country is Bankrupt and we are heading to bankruptcy. What happened is that the Federal Government do pay petroleum subsidy, pay electricity tariff subsidy, and if there is rise in interest rates, Federal Government pays.”