Goodluck Jonathan Spent Our Money Like Idi-Amin – Soludo

Respect financial expert, Charles Soludo, who is a former Governor of the Central Bank of Nigeria, has said former President Goodluck Jonathan ran the CBN like a bad era in Uganda under Idi-Amin.

The notorious leader, Idi-Amin Dada of Uganda ruled with an iron fist between 1971 and 1979 and has been described as one of the most ruthless and corrupt African rulers in history.

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 in 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 apex bank (CBN) as “the ATM of the Presidency,” under Goodluck Ebele 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.

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

On the way forward, Soludo said it's "to look inwards for the supply of raw materials, prudent management and professionalisation of the workforce."