The Governor of the Central Bank of Nigeria, Godwin Emefiele, has confirmed that the Federal Government printed sixty billion Naira to increase the March 2021 allocation to states. He stated that printing money to support the states which they will pay back is not new adding that people should avoid adding colouration to it, just as he did in January when Fitch made the same accusation.
Although the Minister of Finance, Zainab Ahmed, on Wednesday during the Federal Executive Council Meeting described Obaseki’s claims as sad and untrue, Emefiele explained in a report, that the bank’s interventions are meant to address the ugly economic outlook of Nigeria as it is in an unfortunate bad situation.