Central Bank of Nigeria (CBN) Governor, Godwin Emefiele has, contrary to the claims of the Finance Minister, confirmed that the bank actually printed N60 billion.
He however, denied assertions by the Governor of Edo State, Godwin Obaseki that the money was distributed to states.
Obaseki had earlier in the week, lamented Nigeria’s economic situation, saying that the federal government had to print money to disburse to states.
The disbursements were for the March 2021 Federal Account Allocation.
Emefiele regretted that politicians are giving the wrong impression about the development and that it is inappropriate to give colorations to the printing of money.
He made the disclosure while speaking in Nasarawa State during an inspection tour of the proposed $500 million Dangote sugar processing facility.
According to him, “If you understand the concept of printing of money, it about lending money. That is our job. To print money is about lending money.
“So, there is no need of putting all the controversy about 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 printing of money as if it is some foreign words coming from the sky.
“It is important for me to put it this way, that in 2015/2016, the kind of situation we found ourselves in, we did provide a budget support facility to all 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.”
The CBN Governor stated further that he is a banker, knows his job and should be allowed to do it.