Jonathan Ran CBN Like Idi-Amin – Soludo

A former Governor of the Central Bank of Nigeria, Charles
Soludo, has said former President Goodluck Jonathan ran
the bank like a movie from Uganda under Idi-Amin.
Idi-Amin Dada ruled Uganda with an iron fist between 1971
and 1979 and has been described as one of the most
corrupt African rulers.

Mr Soludo said, “Imagine a scenario where a president can
order the CBN to create an intervention fund for national
stability and CBN literally ‘prints’ say, N3 trillion, and doles it
out cash to the Presidency to prosecute an election
campaign or for just about anything he fancies. It is a scary
thought.

“We are going down a dangerous path that ruins the
economy. I don’t know any other country where such is
tolerated, except perhaps what I watched in a movie about
Idi Amin and his governor of central bank.”

In an interview in the current Business Edition of The
Interview, the former CBN governor described the bank as
“the ATM of the Presidency,” under Jonathan.

He said it was regrettable that in spite of the bank’s statutory
independence, it continues to be a victim of high-wire
politics, often “electrocuting” the bank’s leadership.

Mr. Soludo said, “Recent revelations regarding the ‘arms-
gate’ (short for the $2.1billion scandal involving former NSA
Sambo Dasuki) and the apparent abuse of the CBN as ATM
by the presidency should get reasonable people thinking.”

The former CBN governor was one of the ten leading
business lights featured in the current edition of The
Interview, which provides insights into opportunities and
threats in business this year, ranging from manufacturing
and power, to banking and investment, small businesses,
advertising and jobs.

The President of the Manufacturers Association of Nigeria,
Frank Jacobs, identified foreign exchange restrictions;
infrastructure; and high cost of business as the three biggest
challenges.

The way forward, he said, “Is to look inwards for the supply
of raw materials, prudent management and
professionalisation of the workforce.”

Mr Jacobs advised against increased taxes, recommending
instead a “widening of the tax net” to improve government
revenue.

A statement by the Managing Director/Editor-In-Chief of The
Interview, Mr. Azu Ishiekwene, described the edition as “the
essential business tool for 2016.”

Also featured are the Managing Director of the Asset
Management Corporation of Nigeria, Ahmed Kuru; the
Group Managing Director of Fidelity Bank, Nnamdi
Okonkwo; the CEO of Capital Assets, Ariyo Olushekun; the
CEO of Complete Communications, Sunny Obazu-Ojeagbase;
and one of the founders of Jobberman, Opeyemi Owoyemi,
among others.

Premium Times.