Jonathan ran CBN like Idi Amin –Soludo

FORMER governor of the Central Bank of Nigeria, Pro­fessor Charles Soludo, has said former President Good­luck Jonathan ran the bank like a movie from Uganda un­der former president Idi Amin Dada.

Idi Amin ruled Uganda be­tween 1971 and 1979 and has been described as one of the most corrupt African rulers.

Soludo said: "Imagine a scenario where a president can order the CBN to cre­ate an Intervention Fund for national stability and CBN literally 'prints' say, N3 tril­lion, and doles it out cash to the Presidency to prosecute an election campaign or for just about anything he fancies. It is a scary thought.

"We are going down a dangerous path that ruins the economy. I don't know any other country where such is tolerated, except, perhaps, what I watched in a movie about Idi Amin and his Central Bank governor."

In an interview in the cur­rent business edition of The Interview, the former CBN governor described the bank as "the ATM of the Presiden­cy," under Jonathan.

He said it was regrettable that in spite of the bank's stat­utory independence, it contin­ues to be a victim of high-wire politics, often "electrocuting" the bank's leadership.

Soludo added: "Recent rev­elations regarding the 'arms-gate' and the apparent abuse of the CBN as ATM by the Presi­dency should get reasonable people thinking."

The former CBN gover­nor was one of the 10 leading business lights featured in the current edition of The Inter­view, which provides insights into opportunities and threats in business this year, ranging from manufacturing and pow­er, to banking and investment, small businesses, advertising and jobs.

A statement by the Manag­ing Director/Editor-In-Chief of The Interview, Mr. Azuu Ishiekwene, described the edi­tion as "the essential business tool for 2016.
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