The Governor of the Central Bank of Nigeria (CBN), Godwin
Emefiele on Friday said it is the duty of the bank to print money which can be
lent out to government.
Emefiele’s comment comes following allegation that N60
billion were printed by the apex bank which was used in paying the March
Federal Allocation to states.
Governor Godwin Obaseki has opened can of worms, saying that
the N60 billion shared by the Federal Government to states as allocation were
printed by the CBN.
The CBN had said it did not know what Obaseki was talking about as it never printed money.
But Emefiele’s tweet on
Friday seems to have buttress Obaseki’s claim that N60 billion was printed and
lent to the government.
He said the concept of printing money was about lending
money, and that it was the job of CBN to do that.
The CBN governor added that it would be irresponsible for
the apex bank or any Central Bank to stand idle and refuse to support its
government at a time like this.
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,” he
tweeted.
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