CBN Didn’t Print Money To Shore Up March Allocation, NEC Insists

The National Economic Council (NEC), yesterday, affirmed that there was no printing of N60billion or any other amount whatsoever to shore up allocation for the month of March as was insinuated recently by the Governor of Edo State, Mr. Godwin Obaseki.
NEC took the position after receiving presentations from the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed; the Governor of Central Bank of Nigeria (CBN); and the Nigerian Governors’ Forum (NGF).
The virtual NEC was presided over by Vice President, Prof Yemi Osinbajo at the Presidential Villa, Abuja.
A statement issued by the Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Laolu Akande, explained that the governors critically reviewed the alleged printing of N60billion.
Akande said that the meeting was attended by many of the state governors; the FCT Minister, Mohammed Bello; the Central Bank of Nigeria Governor, Godwin Emefiele; the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed; the Minister of Transport, Rotimi Amaechi; the Minister of Information and Culture, Alhaji Lai Mohammed; the Minister of Aviation, Hadi Sirika; and that of the Water Resources, Suleiman Adamu.
He said, “The council expressed satisfaction with clarifications made by the NGF represented by its Chairman and Ekiti State Governor, Dr Kayode Fayemi; Finance Minister, Hajiya Zainab Ahmed; and the Central Bank Governor, Mr Godwin Emefiele; on the alleged printing of N60billion by the Federal Government.
“Both the minister and the CBN governor stated to the council that the allegation of the printing of money to augment allocation was outrightly false.”