Again, FG denies printing money to shore up state allocations

The National Economic Council (NEC) has said that there was no printing of N60 billion or any other amount whatsoever to shore up federal allocation to the 36 states and the Federal Capital Territory for the month of March as claimed by Edo State Governor Godwin Obaseki.

Obaseki had recently claimed that N60 billion was printed by the Federal Government to augment the March revenue allocation andwarned that the economy was in dire straits.

NEC at its monthly virtual meeting chaired by Vice President Yemi Osinbajo on Thursday, emphasised that having received presentations from the Minister of Finance Zainab Ahmed; Central Bank Governor, Godwin Emefiele; and the Nigerian Governors’ Forum (NGF), it discovered that there was no printing of N60 billion or any other amount whatsoever to shore up allocation for the month of March as claimed recently by Governor Obaseki.

The NEC meeting attended by many of the State Governors, Ministers of FCT, Finance, Transport, Information, Aviation and Water Resources and the Minister of State for Budget and National Planning, expressed satisfaction with clarifications made by the NGF represented by its Chairman, Governor Kayode Fayemi Finance Minister Ahmed and CBN Governor Emefiele on the alleged printing of N60 billion by the Federal Government.

Emefiele and Ahmed were said to have told the Council that the allegation of the printing of money to augment allocation was false.

“The NGF also supported the conclusion and NEC affirmed same as the highest constitutional body tasked with economic affairs in the country”, the Spokesman of the Vice President, Mr. Laolu Akande, said.

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