The Office of the Accountant General has clarified the remark made by Emir of Kano Muhammadu Sanusi II on impending bankruptcy of the country, saying the monarch was quoted out of context.

The emir spoke on Tuesday at the 3rd National Treasury Workshop, organised by Office of the Accountant General of the Federation, in Kano.

“The attention of the office of the Accountant General of the Federation has been drawn to a statement credited to the Emir of Kano HRM MUHAMMADU SANUSI ll, saying ” Nigeria on the verge of bankruptcy,” a statement by Henshaw Ogubike, spokesman for the office, said.

“The Nation and other newspapers online report on Tuesday 25th June 2019, published this story on their online news claiming that the Emir declared that Nigeria is on the threshold of bankruptcy following unfavorable Economic policies such as subsidizing petroleum products and electricity tariffs.

“This is not TRUE, as the respected Emir was only advising Government to consider gradual withdrawal of subsidy on Petroleum products and Electricity tariffs to enable the Government to have resources for infrastructure, education and healthcare.

“The Royal father was quoted out of context. We therefore call on the general public to disregard those online misrepresentation of facts.

“In addition, the Emir suggested the way forward to Government by advising the present Administration to take a second look at the issue of subsidy , that Nigerians deserve and expect transparency and accountability in the management of the nation’s Treasury.

“The Emir further advised that Government should look at the components of petroleum products and do the needful.”

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