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Former CBN governor, Sanusi, commends Tinubu on subsidy removal, unified FX rate

Lamido Sanusi, former governor of the Central Bank of Nigeria (CBN) has commended President Bola Tinubu for removing fuel subsidies and stopping multiple exchange rate regimes.

Lamido-Sanusi. Photo Credit: Council on Foreign Relations
Lamido-Sanusi. Photo Credit: Council on Foreign Relations

Lamido Sanusi, former governor of the Central Bank of Nigeria (CBN) has commended President Bola Tinubu for removing fuel subsidies and stopping multiple exchange rate regimes.

Sanusi said this after a meeting with the president at the State House on Thursday in Abuja.

He told newsmen that he was at the State House to show solidarity for his friend who is taking all the right steps as a Nigerian leader.

“The first reason was to come and congratulate him formally, but also because I wear many caps, I wear the cap of an economist so I came to thank him for the steps he has taken to put this economy on course”, Sanusi said.

“As you know many of the issues that we’ve talking about; the subsidy that has cause a hemorrhage on the fiscal’s, the multiple exchange rates regime and on. These are issues that I have personally been talking about for a long time and I’m happy that on his very first day, he has addressed these issues and the markets are happy.

“It’s important when the government does the right thing for us to give them feedback. It’s not always when they do the wrong thing that we complain. So he has started on such a strong footing and as far as the economy is concerned, we have to come and support and encourage that we continue along that path and be advocates for the policies he has pursued”.

The former CBN governor also said he received assurances from the president that the federal government will take a closer look at the Nigerian Air Force raid that killed at least 37 herders in Nasarawa state in January, this year. 

He said “I’m concerned with the issue of herdsmen–farmer clashes. He (President Tinubu) is also concerned. And we discussed steps that need to be taken to begin to look at some of those issues. 

“But in particular, I came to appeal to him on the case of the 37 herdsmen who were bombed by the airforce in Nasarawa state a few months ago which we wrote a letter to President Buhari on. 

“And we have now written a reminder because it was a matter we didn’t want to be swept under the carpet. The President has asked me to send him that letter and I’m sure that he will look into the matter.” 

In January 2023, the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) accused the Nigerian Air Force of killing its members in the Rukubi community of Doma Local Government Area of Nasarawa State. 

Baba Ngelzarma, president of MACBAN, alleged that the herders, numbering about 40 were killed by operatives of the Nigerian Air Force Base in Makurdi, Benue State.

According to Ngelzarma, the herders were returning from Makurdi, the Benue State capital, where they went to retrieve over 1,000 cows seized by the Benue Livestock Guards. 

He said that after the payment of fines totalling N29m, some of the livestock were released to the herders by the guards. However, they were trailed and killed while offloading the cattle shortly after they reached their destination in Nasarawa. 

MACBAN had condemned the attack describing it as a war crime under the Geneva Convention that prohibits the indiscriminate killing of livestock.

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