CBN Governor Denies Allegation Of Printing Money

The National Economic Council (NEC) has dismissed allegations by the Federal Government printed N60 billion to shore up March allocation to States.

Edo Governor Godwin Obaseki had accused the Federal Government of financial recklessness in printing extra cash to meet up with allocations faulting the current administration’s borrowing pattern.

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, had denied the allegation.

However, during its virtual meeting on Thursday, NEC presided over by Vice President Yemi Osinbajo, having received presentations from Minister of Finance, the Central Bank (CBN) Governor Godwin Emefiele and Nigerian Governors’ Forum (NGF), said it was satisfied with that no money was printed for March allocation.

The meeting was attended by many Governors, FCT Minister as well as the Ministers of Transportation Rotimi Amaechi; Information and Culture Lai Mohammed; Aviation Senator Hadi Sirika and Water Resources, Suleiman Adamu.

The Council expressed satisfaction with clarifications made by the NGF represented by its Chairman, Governor Kayode Fayemi, Ahmed and Emefiele on the alleged printing of N60 billion by the Federal Government.

The Minister and CBN Governor stated the allegation of the printing of money to augment allocation was outright false.

The NGF also supported the conclusion and NEC affirmed the same as the highest constitutional body tasked with economic affairs in the country, according to the spokesman of Vice President Laolu Akande.

On security concerns in parts of the country, the Council unanimously affirmed the unity of Nigeria and said it would adopt the report of the national town hall meeting on National Unity and Security held recently in Kaduna.