Tinubu inherited an empty treasury from Buhari – NSA reveals

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At the Chief of Defense Intelligence Annual Conference 2023 in Abuja, National Security Adviser (NSA) Nuhu Ribadu revealed that the current financial challenges in the country stem from President Bola Tinubu’s administration inheriting an empty treasury upon assuming power a few months ago.

Ribadu acknowledged the severe financial constraints impacting budgetary allocations but emphasized the federal government’s commitment to ensuring a strong and effective defense management and mechanism.

In his words.

“Yes, we’re facing budgetary constraints. It is okay for me to tell you.

Fine, it is important for you to know that we have inherited a very difficult situation, literally a bankrupt country, no money, to a point where we can say that all the money we’re getting now; we’re paying back what was taken. It is serious!”

“But this administration is doing its best to meet our requirements, particularly the armed forces, and I believe that you leaders will be able to testify to that.”