CBN Governor Technically Confesses That The President Buhari FG Printed An Extra N60 Billion In March, Vindicates Governor Godwin Obaseki, But Moves To Punish All State Governors, Says They Must Pay Back The 2015/2016 Loan

Emerging report reaching Page 36 on Saturday, indicates that the Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, has broken his silence on the alleged printing of about N60 billion, by the President Muhammadu Buhari Federal Government, in support of the Federal Allocation for the month of March 2021, as alleged by the Governor of Edo State, Godwin Obaseki.

Emefiele, while addressing Journalists, in Tunga, Awe Local Government Area of Nasarawa State, said that printing money is a key mandate of the Central Bank, adding that, the Apex Bank must always act to support the government at times of financial difficulties.

He added that it is “unfortunate and totally inappropriate”, for some people to give colouration to this.

His exact words: “If you understand the concept of printing money. The concept of printing of money is about lending money. That is our job – print money. So there is no need to put controversy about the printing of money, as if we are going into the factory, printing naira and distributing on the streets.

“In 2015/2016, we were in a similar [fiscal] situation, but it is far worse today. We provided a budget support facility to all the States of the country, and that loan remains unpaid till now. We are going to insist on the States paying the loan back, since they are effectively accusing us of giving them loans.

“Most countries of the world today, are confronted by not just the health crisis from the COVID pandemic, but also economic crisis. I keep saying this: it would be irresponsible of the Central Bank of Nigeria or any Central Bank, to stand idle and refuse to support its government at this time. Whatever we do in Nigeria, is being done in any clime.”

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