Nigeria Not on the Verge of Bankruptcy—AGF

By Modupe Gbadeyanka

Nigeria’s Accountant General of the Federation (AGF), Mr Ahmed Idris, has reacted to media reports quoting the Emir of Kano, Mr Muhammadu Sanusi II, as saying that Nigeria was on the verge of bankruptcy.

The respected and fearless monarch was quoted yesterday as making this statement at the 3rd National Treasury Workshop in Kano.

Reacting to this on Wednesday via a statement issued by Henshaw Ogubike, Deputy Director, Press and Public Relations, Office of the AGF, Mr Idris said the traditional ruler was quoted out of context by the media.

He stressed that Mr Sanusi never said the country was on the verge of bankruptcy, but advised the government on how to make things better for the nation.

“The attention of the office of the Accountant General of the Federation has been drawn to a statement credited to the Emir of Kano, HRM Muhammadu Sanusi II, saying, ‘Nigeria on the verge of bankruptcy,’ The Nation and other Newspapers online reports on Tuesday, 25th June 2019, published this story on their online media, claiming that the Emir declared that Nigeria is on the threshold of bankruptcy, following unfavourable economic policies, such as subsidizing Petroleum products and Electricity tar riffs,” a statement from the AGF said.

“This is not TRUE, as the respected Emir was only advising government to consider gradual withdrawal of subsidy on petroleum products and electricity tariffs to enable the government have resources for infrastructure, education and healthcare.

“The royal father was quoted out of context. We therefore hasten to call on the general public to disregard these on-line misrepresentations of facts,” the statement further said.

“In addition, the Emir suggested the way forward to government by advising the present administration to take a second look at the issue of subsidy, that Nigerians deserve and expect transparency and accountability in the management of the nation’s treasury.

“The Emir further advised that government should look at the components of petroleum products and do the needful,” it added.