An erstwhile Governor of the Central Bank of Nigeria (CBN) has disclosed that the immediate past President of Nigeria, Goodluck Ebele Jonathan ran the apex bank like an Ugandan movie depicting Idi-Amin.
Speaking during an exclusive interview with the Business Edition of The Interview, the former CBN governor described the bank as “the ATM of the Presidency,” under Jonathan.
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.”
Described as one of Africa’s most ruthless and corrupt rulers, Idi-Amin Dada ruled Uganda with an iron fist between 1971 and 1979.
According to Soludo, it was unfortunate that despite the bank’s statutory independence, it continues to be a victim of high-wire politics, often “electrocuting” the bank’s leadership.
“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,” Mr Soludo concluded.