PDP Asks Buhari to accept responsibility for printing of currency and also sack finance minister


The Peoples Democratic Party (PDP) on Friday asked President Muhammadu Buhari to sack the Minister of Finance, Budget and National Planning, Zainab Ahmed, as controversy over the alleged printing of N60 billion by the Central Bank of Nigeria (CBN) rages.

The Edo State Governor, Godwin Obaseki, had claimed earlier this week that the CBN printed between N50 billion and N60 billion shared to the states as allocation from the Federation Account in March, 2021

But the minister dismissed the claim in a statement, saying the funds shared to the states were generated by the government’s agencies.

She said: “What we distribute at FAAC is revenue that is generated and in fact distribution of revenue is public information. We publish revenue generated by FIRS, the customs, and the NNPC, and we distribute at FAAC.

The CBN Governor, Godwin Emefiele, later waded into the matter and told the Chief Executive of Frontier Africa Reports, Boasan Omofaye, the apex bank usually prints currency to support the government.

“Printing of currency to support the federal and state governments financially was part of CBN lending to the government,” he stated.

However, in a statement issued by its National Publicity Secretary, Kola Ologbondiyan, PDP slammed the Buhari administration for trying to deny the printing of N60 billion by the CBN.

The party also kicked against the finance minister for attempting to mislead Nigerians.

“Indeed, the admission by the CBN governor that ‘Nigeria is unfortunately in a very bad situation’ further justifies our position that the Buhari-led APC administration has wrecked the economy of our nation.

“Our party is worried over the huge negative impact of indiscriminate printing of currency which has led to the unprecedented rise in inflation rate to 18.17 percent as disclosed by the Bureau of National Statistics on Thursday.

“This situation has led to further economic hardship with surging prices and fallen purchasing power throwing millions of families in distress and unable to afford the basic necessities of life.

“The PDP calls out President Buhari to come clean on the amount that has been printed so far by the CBN to finance the deficit caused by the financial mismanagement of his government as well as what the funds had been used for.

“Furthermore, for failing the full disclosure test, the PDP demands that the Minister of Finance should immediately be relieved of her position, while the President accepts responsibility for the indiscriminate printing of currency in our naira.”


New mag

Newswire Law and Events Magazine is Out. It's a collector's item. Get one - or two,or more - for yourself and loved ones.

Do you want to be heard, your events covered, your articles published, or need to advertise your products and services on our Blog and Magazine, reach out to us at Newswire Law and Events, you will be glad you did. For more details about our services, please call: 08039218044, 09070309355. Email: newswiremagazine@yahoo.co.uk


Please enter your comment!
Please enter your name here