Breaking: FG Counters Obaseki, Denies Printing N60bn to Support March Allocation

Breaking: FG Counters Obaseki, Denies Printing N60bn to Support March Allocation

- Zainab Ahmed, the minister of finance, budget and national planning, has replied Governor Obaseki over his allegation

- The Edo governor had alleged that the federal government printed N60bn in March for states

- Ahmed, however, described Obaseki's statement as unfortunate, sad and untrue

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The federal government has denied it printed N60 billion to augment March allocation to states as alleged by the governor of Edo, Godwin Obaseki.

TheCable reports that the government described the allegation by the governor as untrue and sad.

Breaking: FG counters Obaseki, denies printing N60bn to support March allocation
The federal government denied Obaseki's claims that it printed N60bn to support March allocation. Credit: @ZShamsuna
Source: Twitter

Legit.ng gathered that the minister of finance, budget and national planning, Zainab Ahmed, debunked the claim while answering questions from State House correspondents on Wednesday, April 14.

The Punch also reports that the minister said what the federal government distributed was the revenue generated, adding that the distribution of revenue is public information.

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Ahmed further stressed that revenue generated by Federal Inland Revenue Service (FIRS), the Customs and the Nigerian National Petroleum Corporation (NNPC) was published and distributed at Federation Account Allocation Committee (FAAC).

She said:

“The issue that was raised by the Edo State Governor for me is very, very sad. Because it is not a fact. What we distribute at FAAC is revenue that is generated and in fact distribution revenue is public information.
"We publish revenue generated by FIRS, the customs and the NNPC and we distribute at FAAC. So, it is not true to say we printed money to distribute at FAAC, it is not true."

Speaking on the issue of borrowing without a repayment plan, Ahmed said the nation’s debt profile remains within manageable realms. She added that the plan for the country is basically to improve its revenue generation to take care of both debt servicing and running of government.

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Ahmed stated:

“On the issue of the borrowing, the Nigerian debt is still within sustainable limits. What we need to do, as I have said several times, is to improve our revenue to enhance our capacity to service, not only our debt obligations, but to service the needs of running government on day to day basis.
“So our debt, currently at about 23% to GDP, is at a very sustainable level. You can look at all the reports that you see from multilateral institutions, those facts are stated.”

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Meanwhile, Legit.ng had previously reported that the Central Bank of Nigeria (CBN) reacted to Governor Obaseki's claim on printing N60 billion.

It was reported that Osita Nwanisobi, the spokesperson of CBN, on Sunday, April 11, said he was not aware of any money printed by the government.

Source: Legit

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