Breaking: Council expressed satisfaction with clarifications made by the NGF on the alleged printing of N60 billion by the FG

The National Economic Council (NEC) has dismissed allegations by the Federal Government printed N60 billion to shore up March allocation to States.

Edo Governor Godwin Obaseki had accused the Federal Government of fiscal recklessness in printing extra money to match with allocations faulting the current government’s borrowing pattern.

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, had denied the allegation.

However, during its virtual assembly on Thursday, NEC presided over by Vice President Yemi Osinbajo, having obtained presentations from Minister of Finance, the Central Bank (CBN) Governor Godwin Emefiele and Nigerian Governors’ Forum (NGF), stated it had been happy with no money had been published for March allocation.

The assembly was attended by many Governors, FCT Minister as well as the Ministers of Transportation Rotimi Amaechi; Information and Culture Lai Mohammed; Aviation Senator Hadi Sirika and Water Resources, Suleiman Adamu. The Council expressed satisfaction with clarifications made by the NGF represented by its Chairman, Governor Kayode Fayemi, Ahmed and Emefiele on the alleged print of N60 billion from the Federal Government.

The Minister and CBN Governor said the allegation of the printing of money to augment allocation was outright false.

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The NGF also affirmed the conclusion and NEC affirmed the like the greatest constitutional body tasked with economic affairs in the country, according to the spokesman of Vice President Laolu Akande.

On security issues in parts of the country, the Council unanimously affirmed the unity of Nigeria and said it would adopt the report of the nationwide town hall meeting National Unity and Security held recently in Kaduna.

Details shortly…

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