Sanusi accuses lawmakers of ignoring illegal borrowing

By Lawrence Agbo
The Emir of Kano, Muhammadu Sanusi II, has criticised the National Assembly for failing to enforce laws regulating government borrowing, accusing federal lawmakers of turning a blind eye as the executive repeatedly breached statutory limits on loans from the Central Bank of Nigeria (CBN).
Speaking on the need for stronger institutions and accountability, the former Governor of the CBN argued that the legislature neglected its constitutional responsibility to provide checks and balances, allowing violations of the country’s fiscal rules to continue unchecked for years.
According to Sanusi, existing legislation clearly limits the amount the Federal Government can borr...