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N60bn printing: Sack finance minister before it’s too late –PDP tells Buhari
 
By:
Fri, 16 Apr 2021   ||   Nigeria,
 

The Peoples Democratic Party has asked President Muhammadu Buhari to sack the Minister of Finance, Budget and National Planning, Zainab Ahmed, over the alleged printing of N60 billion by the Central Bank of Nigeria.

The party made the charge on Friday in a statement signed by its national publicity secretary, Kola Ologbondiyan.

Recall that Edo State Governor, Godwin Obaseki, raised the alarm that FG printed N60bn to support the March allocation to states.

The claim had been denied by the finance minister, describing it as “untrue.”

The CBN Governor, Godwin Emefiele, had also said the apex bank had the right to print money to support the economy.

“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. #Emefiele,” Emefiele wrote on official twitter handle of the CBN @cenbank on Friday.

Ologbondiyan, in the statement he issued on behalf of PDP, berated the finance minister for attempting to mislead Nigerians

The party noted that “the admission by CBN Governor, Godwin Emefiele, that the apex bank has been printing money at the bidding of government, has vindicated its earlier stand that the Buhari-led APC administration is characterized by concealments, deceit, and falsehood”.

Part of the statement read: “Governor Obaseki, as a financial expert, who is not known for flippancy, must be commended for his act of patriotism in exposing the dire economic situation our nation has been plunged under the Buhari administration.

“A situation where the Federal Government cannot articulate and implement policies favourable to wealth creation but resorting to borrowing and indiscriminate printing of currency notes, only goes to further confirm that the Buhari administration lacks the credibility and capacity to run a nation.

“Indeed, the admission by the CBN governor that “Nigeria is unfortunately in a very bad situation” further justifies our position that the Buhari-led APC administration has wrecked the economy of our nation.

“Our party is worried over the huge negative impact of indiscriminate printing of currency which has led to the unprecedented rise in inflation rate to 18.17% as disclosed by the Bureau of National Statistics on Thursday.

“This situation has led to further economic hardship with surging prices and fallen purchasing power throwing millions of families in distress and unable to afford the basic necessities of life.

“The PDP calls out President Buhari to come clean on the amount that has been printed so far by the CBN to finance the deficit caused by the financial mismanagement of his government as well as what the funds had been used for.

“Furthermore, for failing the full disclosure test, the PDP demands that the Minister of Finance should immediately be relieved of her position, while the President accepts responsibility for the indiscriminate printing of currency in our naira.

“Our party implores President Buhari to save our nation by allowing better hands to manage and salvage our economy before it is too late.”

 

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