Ex-CBN Governor, Sanusi Hails Tinubu On Economic Reforms

A former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, has commended President Bola Ahmed Tinubu for his economic reforms since his assumption of office.

Saniu gave the commendation on Thursday while speaking with State House Correspondents after a paid a courtesy visit to the President at the Presidential Villa, Abuja.

The former Emir of Kano, who said he was on a solidarity mission to the State House, asserted that the economic decisions taken so far by the President are long overdue.

Sanusi also commended the President for solving the double-hedged problems of fuel subsidy and multiple exchange rate regimes, among other reforms.

He said: “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.

“As you know many of the issues that we’ve been 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.”

Naija News reports that Sanusi stated this hours after the apex bank announced some immediate changes to operations in the Nigerian Foreign Exchange (FX) Market.

In a statement on Wednesday signed by the Director of the Financial NarketsDepartment, Angela Sere-Ejembi, the CBN announced the cessation of the RT200 rebate scheme and the Naira4Dollar remittance scheme, with effect from June 30.

The statement also included new guidelines for the operation of the foreign exchange market in the country.

According to the CBN, further guidance on the changes will be communicated in due course but all market participants and the general public are enjoined to abide by the rules.