Kano Emir Sanusi accuses National Assembly of failing to enforce CBN borrowing limits

The Emir of Kano, Muhammadu Sanusi II, has accused the National Assembly of failing to perform its constitutional duty by allowing successive federal governments to breach laws regulating borrowing from the Central Bank of Nigeria (CBN).
Speaking on the need for stronger institutions and accountability over the weekend, the former CBN governor said lawmakers failed to check the executive despite clear legal limits on government borrowing from the apex bank.
Emir Sanusi explained that the law permits the Federal Government to borrow only up to five per cent of the previous year’s revenue from the CBN, but alleged that the provision was repeatedly violated without any action by the legi...