CBN governor replies Obaseki over claims Nigeria printed N60 billion for March allocation

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has refuted the allegation made by the Edo State Governor, Godwin Obaseki that the Nigerian government printed N60 billion last month to support allocation for states.

Emefiele, in his clarifications, told the Edo governor that what he was referring to was simply lending money to states.

The Minister of Finance, Budget and National Planning, Zainab Ahmed had earlier dismissed the claim by Obaseki as false.

However, Obaseki reiterated his position, asking the Nigerian government to end the current monetary rascality and stop playing the ostrich.

Speaking with journalists on Thursday, Emefiele described Obaseki’s claim as a political ploy that is “unfortunate and totally inappropriate”.

According to him, the Nigerian government had distributed loans to states to manage the economic complications resulted from the COVID-19 pandemic.

“If you understand the concept of printing of money, it is about lending money. There is no need for all the controversy around money printing as if we are going into the factory to print naira and then distribute on the streets,” he said.

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