Aclergyman and President of the Pentecostal Sanctuary Bible Ministries, Prophet Sunday Dare Iyunade, has deplored the introduction and alleged mismanagement of the Treasury Single Account by the President Muhammadu Buhari-led administration, blaming the policy for the current parlous state of the country’s economy.
The cleric also warned that Nigeria risked drought and famine that may be experienced throughout the tenure of the current administration, whose officials he alleged also had plans to “wipe off the middle class and entrench themselves in power over eight years.”
Iyunade argued that the adoption of the TSA policy was an economic blunder, which had destroyed the nation’s economy.
He said that the TSA policy over which the government ordered all government ministries, agencies and departments to close their accounts in various commercial banks across the country, and resulted in the mopping up of billions of Naira from circulation, caused the current economic crisis Nigeria has found itself.
Iyunade stated these on Saturday at a press conference to herald the commemoration of his church’s 21st anniversary and its 15th annual convention at its headquarters in IjebuOde, Ogun State.
The event, which has the theme “Occupy Till I Come”, is scheduled to commence on Sunday, March 19 with a Convention Rally and it will end on Sunday, March 26, 2017 with a thanksgiving and ordination service.
Speaking further, the cleric alleged that the government aggravated the economic situation, when over $20billion in the various government accounts was put in a single account and converted to Naira, without any concrete investment plans.
Iyunade, who lamented the high cost of living in the country, also decried government’s decision to borrow N4.7trillion from the Central Bank of Nigeria within three months in 2016, insisting that the government deliberately plunged Nigeria into the current doldrums through “erroneous economic policy”.
He said, “This government committed economic blunder by introducing TSA, because that started the destruction of our economy. The government, with the step, mopped up about $20billlion from accounts of the Federal Government in various banks and converted the money into our own local currency. Since then, the economy has been in a parlous state.
“All efforts to revive the ailing economy by the government have been futile because that singular policy is faulty as cash flow has been adversely decimated and the economy is gravely affected.
“Nigerians should pray and fast now so that God can shorten the time of famine. Christians must pray well so that the famine will not run from four to eight years, as they installed the present government and can determine its course.
As long as this government holds the reins of power, famine will continue. We should pray for surplus from God. To revive the economy will take a long time. If anyone deceives you, don’t get deceived.”
