Home ‘It will be irresponsible for CBN to refuse to support govt,’ Emefiele reacts to money printing allegations

‘It will be irresponsible for CBN to refuse to support govt,’ Emefiele reacts to money printing allegations

ByChioma ObinagwamApril 17, 20211 Mins read307

CBN Governor, Godwin Emefiele

By Chioma Obinagwam

Nigeria’s apex bank, the Central Bank of Nigeria (CBN) has argued that printing of money was done to support the government.

The CBN governor reacted to the recent furore over N60 billion printed money sparked by the Edo State governor, Godwin Obaseki in a tweet sighted by Confiance News on the bank’s official Twitter handle on Friday.

“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. #Emefiele,” he stated.

Also, in a video clip posted by a tweep known as Charles Alimikhena, on the comment section of CBN’s official Twitter handle, he noted that printing of money is not peculiar to Nigeria alone.

“And what is being done is being done in any clime,” he noted.

Continuing he said, “It is very inappropriate for people to give some colouration to the word printing as if it is some foreign word coming from the sky.

“It is important for me to put it this way that in 2015, 2016, the kind of situations we find ourselves now which is even worse than what we faced in 2015, 2016. We did provide budget support for all the 36 states in this country. That loan remains unpaid till now and we’re going to insist on states paying back those monies going forward, since they are accusing us of giving them loans. That’s what in effect they are saying.”