The Emir of Kano Muhammad Sanusi II says the financial health of Nigeria is at risk and the country is heading towards bankruptcy.
Sanusi disclosed this during the third national treasury workshop held at the Kano State Government House on Wednesday.
He stressed that factors including fuel subsidy, debt servicing, and demurrage among other economic policies which he described as “unfavourable economic policies,” are consuming revenue of the nation.
Sanusi said further that, “For the Federal Government to place itself in a position where, (in finance you all know this is what we call a naked edge), the price of crude oil and petroleum products goes up, the Federal government pays, exchange rate moves, the Federal Government pays, interest rate moves, the Federal Government pays, demurrage, the Federal Government pays.
The former CBN boss advised that if truly President Buhari is fighting poverty, he should remove the risk on the national financial sector and stop the subsidy regime.