Atedo Peterside, the founder of the Stanbic IBTC Bank has condemned the use of taxpayers' money to subsidise people going on pilgrimage. Peterside who was speaking on Politics Today, a current affairs programme on Channels Television was reacting to the statement attributed to Vice President Kashim Shettima who said the federal government spent N90 billion…Atedo Peterside, the founder of the Stanbic IBTC Bank has condemned the use of taxpayers’ money to subsidise people going on pilgrimage.
He said that the decision is not about helping the poor, because, according to him, the kind of people who will dream of going for pilgrimage are not poor people, “they are middle class and upper middle class people,” he said, adding, “I can understand when you say you want to subsidise food for the poor or their education, this is basically subsidizing the middle class and upper middle class, who probably have some political connection.
“There is no need rushing to bring it down to N1100 to the dollar, it should have been N1300, try and keep it at a level you can manage to achieve stability, and stop doing things that frighten investors like throwing N90 billion to hajj and buying SUVs and other luxury cars for legislators and other government officials,” he said.
“It is not enough for the finance minister and then CBN governor to do the right thing and you are playing politics destroying what they are trying to do. What we want is not policy somersaults and reversals. There should be fiscal discipline otherwise we are not going anywhere.” Operatives in the Kaduna Zonal Command of the Economic and Financial Crimes Commission have arrested two foreign currency traffickers in the State, Abdullahi Yahaya and Ibrahim Haruna in the Kaduna metropolis for alleged involvement in counterfeiting dollars. Upon arrest, a total sum of $81,700, all in a fake $100 denomination, was found in their…
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