Breaking: CBN Governor and NGF confirmed that no money was printed for March allocation


The National Economic Council (NEC) has dismissed allegations from the Federal Government that an additional sum of N60 billion was printed to shore up March allocation to States.

Edo Governor Godwin Obaseki had accused the Federal Government of fiscal recklessness in printing additional money to meet up with allocations faulting the current government’s borrowing pattern.

However, during its virtual assembly on Thursday, NEC presided over by Vice President Yemi Osinbajo, with obtained presentations from Minister of Finance, the Central Bank (CBN) Governor Godwin Emefiele and Nigerian Governors’ Forum (NGF), stated it was satisfied with no money was printed for March allocation.

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The assembly was attended by several Governors, FCT Minister in Addition to the Ministers of Transportation Rotimi Amaechi; Information and Culture Lai Mohammed; Aviation Senator Hadi Sirika and Water Resources, Suleiman Adamu.

The Minister and CBN Governor stated the allegation of this printing of cash to fortify allocation was outright false.

The NGF also supported the conclusion and NEC affirmed the same as the highest constitutional body tasked with economic events in the country, according to the spokesman of Vice President Laolu Akande.

On security issues in parts of the country, the Council unanimously affirmed the unity of Nigeria and said it could adopt the report of the nationwide town hall meeting National Unity and Security held in Kaduna.

Details shortly…


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