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Business News of Friday, 16 April 2021

Source: www.mynigeria.com

It’s our job to print money - CBN responds to Obaseki allegations

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele says printing money is the job of the apex bank.

In a tweet via his official Twitter handle on Friday, April 16, 2021, Mr. Emefiele said printing money is about lending money.

Many believe his response was targetted at recent comments by Governor Edo, Godwin Obaseki who raised an alarm that the government has printed about 60 billion naira to augment March allocation to States.

There had been outcries over the Governor’s allegation which the Federal Government dismissed as “sad and untrue.”

RObaseki replied the Federal Government on Thursday: “Rather than play the Ostrich, we urge the government to take urgent steps to end the current monetary rascality so as to prevent the prevailing economic challenge from degenerating further.”

Emefiele, on Friday, said it would be irresponsible for any Central Bank to refuse to support its government when it is in need.

He said: “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.”