CBN Finally Reacts To Governor Obaseki’s Claim That FG Printed N60bn To Share In March

The Central Bank of Nigeria (CBN) has reacted to a recent allegation made by Edo State Governor, Godwin Obaseki, that Nigeria printed billions of naira last month to cushion its financial trouble.

KanyiDaily recalls that Governor Obaseki had alleged that the federal government printed extra N60 billion for states to share in March because Nigeria is in huge financial trouble.

The Governor expressed worry over the country’s increased borrowing, saying it was wrong to continue borrowing without a tangible plan for debt repayment.

“You are just borrowing, borrowing and borrowing without any means or idea of how to pay back. When we got FAAC for March, the federal government printed additional N50-N60 billion to top-up for us to share.

“This April again, we will go to Abuja and share. By the end of this year, our total borrowings is going to be within N15-N16 trillion.

“Imagine a family that is just borrowing without any means to pay back and nobody is looking at that, everybody is looking at 2023, everybody is blaming Mr. President as if he is a magician.”

When contacted to comment on the development, the spokesperson of CBN, Osita Nwanisobi, said that he was not aware of any N60bn that was printed.

“I am not aware of that (N60bn printed by government,” he told Punch on Saturday.

Similarly, the Federal Ministry of Finance, Budget and National Planning said enquiries on the matter should be directed to the governor who made the allegation.

The media aide to the finance minister, Yunusa Abdullahi, said the Edo State governor or the CBN should be contacted.

“Please direct your questions to the governor who made the claim or the CBN,” he told Punch.

KanyiDaily had reported that despite Nigeria owing $86.39 billion (N32.9 trillionn) to external creditors, the Minister of Finance, Zainab Ahmed, said the nation’s level of borrowing is not unreasonable.