Senator Yaroe Binos who is the lawmaker representing Adamawa Southern Senatorial District in the National Assembly has opened up about how some lawmakers called for the impeachment of President Muhammadu Buhari, over his administration’s borrowing spree.
Binos, who noted that the lawmakers’ call for the impeachment of the President, came on the day the 2023 national appropriation bill of 21.82tn was passed by the National Assembly.
He further revealed that the aforementioned MPs, whose names he omitted, also called for Buhari’s impeachment due to the buildup of over ₦22 trillion in Central Bank loans in contravention of CBN Act.
The senator also criticised Godwin Emefiele, the governor of the Central Bank of Nigeria, for avoiding accountability for the ₦22 trillion overdraft that the Presidency wanted the National Assembly to convert into a bond repayable over a 40-year period by going into hiding.
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Binos, who made the disclosure during a parley with members of the Nigerian Union of Journalists and members of the Correspondent Chapel of the NUJ, Adamawa chapter, lamented the humongous debt the Buhari administration would be leaving behind on May 29.
He said the national debt stock which stood at N47tn would rise by another ₦23.7tn to over ₦70tn by the time the lawmakers approved the securitisation of the overdraft with the CBN.
While questioning the utilisation of the loans, Binos accused the Buhari regime of using substantial part of loans collected on consumption instead of channelling it into capital investment.
He said it was unfair for the government to pile up debts for children yet unborn to contend with its repayment.
According to Binos, what saved the President was the resolve by lawmakers across party lines not to do the President’s bid.
He explained that legislators across party lines, who had grown weary of being allegedly used as rubber stamp, ‘resolved to stay action on doing the presidency’s bidding on securitising the CBN loans, which if approved would have raised the nation’s debt stock to over ₦70tn.’
He charged Nigerians not to re-elect the All Progressives Congress, saying the country needed somebody that would come and clean up the mess the APC had plunged the country into.
He urged Nigerians to vote the presidential candidate of the Peoples Democratic Party, Atiku Abubakar, saying he possessed the acumen, background and experience, as an entrepreneur, to pull the country back from the brink.