N60bn currency printing: End current monetary rascality, Obaseki replies FG

EDO State Governor Godwin Obaseki has asked the Federal Government to take urgent steps to end what he described as ‘current monetary rascality’ so as to prevent further depletion of the country’s economy.

The governor was reacting to denial by Finance Minister  Zainab Ahmed that the Federal Government authorised the printing of N60 billion to augment allocations received by states in March due to paucity of funds as alleged by Obaseki.

Ahmed had, while addressing newsmen shortly after the weekly Federal Executive Council (FEC) meeting on Wednesday in Abuja, said the issue raised by the governor was very sad, noting that what was distributed to states in March was revenue generated by various revenue organs of the government.

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The minister said, contrary to assertions by Obaseki that the Nigeria economy was in a bad shape due to huge borrowing and lack of diversification of the economy, Nigeria’s debt, estimated at 23 percent of the Gross Domestic Product (GDP), was sustainable.

Ahmed called for improved revenue so as to meet government obligations.

However, while reacting in a statement on his Twitter page on Thursday, Obaseki said he was not ready to join issues with the minister, but rather, she should rally Nigerians to rescue the country from its imminent economic doldrums.



    “While we do not want to join issues with the @FinMinNigeria, we believe it is our duty to offer useful advice for the benefit of our country,” he said.

    “The Minister of Finance, Budget and National Planning, @ZShamsuna should rally Nigerians to stem the obvious fiscal slide facing our country.

    “Rather than play the Ostrich, we urge the government to take urgent steps to end the current monetary rascality, so as to prevent the prevailing economic challenge from degenerating further.”

    “We believe it is imperative to approach the Nigerian project with all sense of responsibility and commitment and not play to the gallery because ultimately, time shall be the judge of us all,” he further said.

    You can reach out to me on Twitter via: vincent_ufuoma

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