We’re not Aware, CBN Finally Reacts to Obaseki’s Claim of FG Printing N60bn

We’re not Aware, CBN Finally Reacts to Obaseki’s Claim of FG Printing N60bn

- CBN has debunked a claim that the federal government printed and disbursed N50-N60 billion to Nigerian states

- The spokesperson of CBN, Osita Nwanisobi, said he is not aware of any money printed

- Governor Obaseki had claimed that in the month of March, Nigeria printed N60bn to augment what the federal allocation shared

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The claim that Nigeria printed N50-N60 billion last month to cushion its financial trouble has been denied by the federal ministry of finance, budget, and national planning as well as the Central Bank of Nigeria (CBN).

P.M News reports that Osita Nwanisobi, the spokesperson of CBN, on Sunday, April 11, said he was not aware of any money printed by the government. He disclosed this while speaking to journalists.

Similarly, the media aide to the finance minister, Yunusa Abdullahi said questions on the matter should be directed to Edo state governor, Godwin Obaseki, who made the claim or the CBN.

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We’re not Aware, CBN Finally Reacts to Obaseki’s Claim of FG Printing N60bn
CBN has reacted to Governor Obaseki’s claim that the federal government printed N60bn. Photo credit: @GovernorObaseki
Source: Twitter

Nwanisobi's reaction is coming three days after Obaseki claimed that the federal government printed N60 billion as part of federal allocation for the month of March, The Cable reports.

The governor speaking at the Edo state transition committee stakeholders engagement on Thursday, April 8, said Nigeria is in huge financial trouble.

He said:

“When we got FAAC for March, the federal government printed additional N50-N60 billion to top-up for us to share.”

Meanwhile, Legit.ng reported that the federal government was in the process of acquiring a $750 million loan from the World Bank to help boost the Nigerian economy.

Based on current dollar rates, the total sum of the money in naira is N285,375,000 (two hundred eighty-five billion, three hundred seventy-five million three hundred eighty).

This loan according to the minister of finance, Zainab Ahmed, will stimulate the local economy and support vulnerable household consumption.

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In a related development, Nigerian states including the Federal Capital Territory are in debt to the tune of N4.2tn, according to the National Bureau of Statistics (NBS).

With the latest report, Lagos state accounted for 12.15 per cent of the debt stock as of the end of 2020 while Jigawa state had the least debt stock in this category with a contribution of 0.74 per cent.

Source: Legit.ng

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