N60 Billion Brouhaha: It’s our job to print money, says CBN

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele on Friday said it is the duty of the bank to print money which can be lent out to government.

Emefiele’s comment comes following allegation that N60 billion were printed by the apex bank which was used in paying the March Federal Allocation to states.

Governor Godwin Obaseki has opened can of worms, saying that the N60 billion shared by the Federal Government to states as allocation were printed by the CBN.

The CBN had said it did not know what Obaseki was talking about as it never printed money.

But Emefiele’s tweet on Friday seems to have buttress Obaseki’s claim that N60 billion was printed and lent to the government.

He said the concept of printing money was about lending money, and that it was the job of CBN to do that.

The CBN governor added that it would be irresponsible for the apex bank or any Central Bank to stand idle and refuse to support its government at a time like this.

The concept of printing of money is about lending money and that is our job…It will be irresponsible for the CBN or any Central Bank or Fed to stand idle and refuse to support its government at a time like this,” he tweeted.

About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

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