By Babajide Komolafe

LAGOS— Central Bank of Nigeria, CBN, Governor, Mallam Sanusi Lamido Sanusi, has warned the Federal Government to stop accumulating debts for future generation by reducing its current levels of borrowing.

He said the current level of borrowing, if unchecked, would result to unmitigated hardship for future generations.

He urged the Federal Government not to allow the present and unborn generations inherit the heavy burden of foreign debts, cautioning that Nigeria, currently under the suppressing weight of the heavy burden of foreign debts, is in great danger.
CBN Governor, Sanusi Lamido Sanusi

CBN Governor, Sanusi Lamido Sanusi

Speaking at the just concluded conference of Honorary International Investments Council (HIIC), in London, he warned of a great danger ahead if the nation continued to live above its realistic means.

His words: “We are borrowing more money today at a higher interest rate while leaving the heavy debt burden for our children and grandchildren. For example, if you receive your salary and everyday the money is not enough, you have two options to adjust yourself; Either check your expenditure or check your wages.

He urged the ruling class and the older generations to set good example and educate the coming generations for a better and secured future. According to him, such example should be set by not accumulating debt for future generations to inherit.

“Where would the future be for Nigeria, if today should be allowed to destroy the future”, he queried.


Mallam Sanusi was among the high-profile Nigerian delegation that attended the 13th session of the Honorary International Investments Council (HIIC) of the Council,which was held recently at Beckley Hotel in Knightsbridge, Central London.

The Honorary International Investments Council (HIIC) is a cross-country organisation of prominent investors, drawn from various countries around the world with the task of advising and encouraging governments on economic development issues as concerned nations, especially the fast growing economies in the World.

The business conference sessions had Vice President Namadi Sambo leading a strong team of economic planners and policy makers teaming up with business executives to canvass international investors for the country.

The conference looked into the best ways of attracting investments to Nigeria and all speakers had the consensus that the nation with many opportunities and natural resources stands to grow faster economically, if the current trend of economic progress was sustained

tarano: I pity this guy...Sanusi need to drop this confrontation approach to addressing issues. He has made many powerful enemies in Nigeria....Top business men, Top Bankers, Politicians, Labor, Civil Servants, and the youth...now Federal government...He better devise an exit strategy to Saudi Arabia....because I no Nigerians and I no be TB Joshua but won ma se bobo yi pa...He will have to go to Jail he should ask Wole Soyinka and Co....

gbanikiti: me sef dey find who i go borrow from. Pdp have killed nigerians i swear!

k2039: [color=soyouquotedme]What else do you expect from a planless goverment.

Most developed countries plan ahead for the future generation.


I remembered President Ronal Reagan saying this in his first state of the union address '' Let us so conduct ourselves that two centuries from now, another Congress and another President, meeting in this Chamber as we are meeting, will speak of us with pride''
Thats reflects speech of someone who cares about the future.


Here in Nigeria it's the reverse, all we think about is the present, the coming generation will fend for themselves.


I remeber OBJ saying he left some money in the reseve for the rainy days, we are still in the sunny day and the money is gone, some stupi.d fools will tell us to stop criticising GEJ, that he inherited a failed system, if he knew he couldn't help alleviate our plight and make things better then he shouldn't have taken the oath of office. [/color]

nne3870: I thought you were intelligent!!!Sanusi is only a hypocrite who has nothing to offer to the economy has well.what has he really achieved as the cbn governor?
He inflicts more pain on the society with his policies more than he claims the FG is doing.
Ru.bbish. Pot calling kettle black

nne3870:
I thought you were intelligent!!!

Sanusi is only a hypocrite who has nothing to offer to the economy has well.what has he really achieved as the cbn governor?
He inflicts more pain on the society with his policies more than he claims the FG is doing.
Ru.bbish. Pot calling kettle black

nne3870:
I thought you were intelligent!!!

Sanusi is only a hypocrite who has nothing to offer to the economy has well.what has he really achieved as the cbn governor?
He inflicts more pain on the society with his policies more than he claims the FG is doing.
Ru.bbish. Pot calling kettle black

tarano: I pity this guy...Sanusi need to drop this confrontation approach to addressing issues. He has made many powerful enemies in Nigeria....Top business men, Top Bankers, Politicians, Labor, Civil Servants, and the youth...now Federal government...He better devise an exit strategy to Saudi Arabia....because I no Nigerians and I no be TB Joshua but won ma se bobo yi pa...He will have to go to Jail he should ask Wole Soyinka and Co....

earthgreeners:

Shut UP!!,,, can u plz tell me the pains he inflicted on Nigerians....
Is he the President?, is he a political office holder?....

tarano: I pity this guy...Sanusi need to drop this confrontation approach to addressing issues. He has made many powerful enemies in Nigeria....Top business men, Top Bankers, Politicians, Labor, Civil Servants, and the youth...now Federal government...He better devise an exit strategy to Saudi Arabia....because I no Nigerians and I no be TB Joshua but won ma se bobo yi pa...He will have to go to Jail he should ask Wole Soyinka and Co....

nne3870:
I thought you were intelligent!!!
Sanusi is only a hypocrite who has nothing to offer to the economy has well.what has he really achieved as the cbn governor?
He inflicts more pain on the society with his policies more than he claims the FG is doing.
Ru.bbish. Pot calling kettle black

Walexz02: See talk... Well, I wouldn't blame him coz he is in a position to advice government on such matter(s). But seriously where was he when the FG were making attempt to borrow? * to me its too late to cry when the head is cut off*
I dnt knw what Nigerian constitution says about borrowing money.. Bt it is weird when governmet borrow money and can nt pay half of the dept before leaving office...smh for ds country. I pity i dey pity the incoming generation..

Kaxmytex: [size=28pt]Concerning dis issue of money borrowing.....any state 4rm 9ja wey wan borrow money,i'll advice world bank make dem make sure say d interest na X2 of d money wey dem wan borrow....i.e..a state wey wan borrow $100m....d interest shld b $200m

if na F.G wey wan borrow money,make dem make sure say d interest na X4 of d money wey dem wan borrow

if dem help us dis way....maybe dis mumu-ish pple wey we call our leader go stop 2 dey borrow money[/size]

Kslib:
Nonsense!!! I know your type who claim to be intelligent just to console their dumb head.. Why dont you prove how his policies have caused pain in the society? Why dont you give us precise examples of how it has caused pain in the society more than the FG.. I am very sure that if someone stops you on the road and asks you at gun point how sanusi's policies have caused pain more than the fg's in our society,you wont be able to answer cos all you do is follow the crowd and listen to "them say" "them say".....