CBN Gov, Godwin Emefiele warns Governor Obaseki to stop giving colouration to printing of money

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Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has ripped into Edo State Governor Godwin Obaseki, who has been insisting that Nigeria printed N60billion in March and disbursed the same to the states to survive economic hardship.

He said this in reaction to Governor Obaseki’s allegation of FG printing N50-60 billion for states to share.

Though the Minister of Finance, Zainab Ahmed denied the claim, Emefiele who spoke in Nasarawa State during an inspection tour of the proposed $500m Dangote sugar processing facility, stated that it is the job of the Central Bank of Nigeria to print money.

He added that the concept of printing money is about lending money. Emefiele said; “If you understand the concept of printing of money, it is about lending money. That is our job. To print is about lending money.

“So, there is no need of putting all the controversy about the printing of money as if we go into the factory, print the naira and start distributing on the streets.

“It is very inappropriate for people to give colouration to the printing of money as if it is some foreign words coming from the sky.

“It’s important for me to put it this way that in 2015/16, the kind of situation we found ourselves in, we did provide a budget support facility to all the states of this country.

“That loan is still unpaid up till now. We are going to insist on them paying back the money since they are accusing us of giving them loans. If you understand the concept of printing money, it is about lending money. That is our job. To print is about lending money,” he said.

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