Oluwatosin Enesi
Sanusi spoke in Lagos on Wednesday at the 21st memorial lecture of Chief Gani Fawehinmi organised by the Ikeja branch of the Nigerian Bar Association (NBA).
The theme of the lecture was: “Bretton woods and the African economies: Can Nigerians survive another structural adjustment programme?”
The former governor of the Central Bank of Nigeria (CBN) said he had chosen not to comment on the ongoing economic reforms or policies, despite having the ability to provide explanations.
Offering such insights, he added, would only serve to assist the administration, a stance he has decided against.
“I have decided not to speak about the economy or the reforms, nor to explain anything regarding them. If I explained, it would only benefit this government, and I don’t want to aid this government,” he said.
“I can stand here today, to be honest, and give a few points that are contrary, a few points that explain perhaps what we’re going through and how it was totally predictable—most of it, and maybe avoidable. But I’m not going to do that.
“They’re my friends. If they don’t behave like friends, I don’t behave like a friend.
“So, I watch them being stewed, and they don’t even have people with credibility who can come and explain what they’re doing. But I’m not going to help.”
The traditional ruler said the ongoing economic crisis is, at least in part, a result of decades of irresponsible economic management.
“What we are going through today is, at least in part—not totally, at least in part—a necessary consequence of decades of irresponsible economic management,” he said.
“Let them come and explain to Nigerians why the policies that have been pursued have been pursued.”
For now, Sanusi said he would remain an observer, likening his stance to watching a movie.
“Meanwhile, I’m watching a very nice movie with popcorn in my hands. I’m watching them stew,” he said.
Our Reporter
