Money Printing: Obaseki’s Claim Didn’t Reflect True Position, Says APC Governors

The Progressive Governors’ Forum (PGF), a group of governors elected on the platform of the All Progressives Congress (APC), has refuted a claim that the federal government printed N60 billion as part of federal allocation for March.

Godwin Obaseki, governor of Edo, was quoted as saying at the Edo transition committee stakeholders engagement last week that Nigeria is in huge financial trouble.

“When we got FAAC for March, the federal government printed additional N50-N60 billion to top-up for us to share,” he had said.

But the forum, in a statement signed by Abubakar Atiku Bagudu, governor of Kebbi and chairman of the PGF, on Friday, said Obaseki’s claim did not reflect the true positions of things.

“As a trained economist who has been a governor since 2016, Mr. Obaseki is aware of all the support states have received from President Buhari in coping with the shocks that have resulted from the COVID-19 pandemic and resulting economic recession,” the forum said.

“Not only have we received budget support, bail out support to meet salary obligations and infrastructure refunds to all states, this was implemented in the overall public interest without discrimination on the basis of party affiliation.

“This unfortunate and inaccurate assertion by Governor Obaseki becomes even more worrisome when juxtaposed with the official statement released after the meeting of PDP Governors last week, calling for restructuring and greater devolution of powers to the states.

“It would appear that matters that require the collective resolve of all leaders are now being turned into purely partisan, point scoring claims.

“Given the constraints faced by the Nigerian economy, the Central Bank of Nigeria had responded commendably well while still working hard on exchange and interest rates.

“We urge the Governor, management and staff not be distracted.”

The PGF urged state governors to work collaboratively in tackling the economic challenges present in Nigeria “rather than resort to cheap and demagogic point scoring in our quest to rescue the economy.”

Also disproving Obaseki’s claim, Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), explained that the printed N60 billion to support allocation for states is simply lending by the apex bank.