CBN refutes currency-printing claim

April 12, 2021

The Central Bank of Nigeria (CBN) has refuted claims that it printed the sum of N60bn to cushion the economic hardship in the country last month.

The claim was made by Edo State Governor, Godwin Obaseki on Thursday, April 8, 2021.

Obaseki noted that Nigeria was in huge financial trouble, alleging that the Federal Government printed N60bn in March as part of federal allocation for the month.

He also expressed worry over the country’s increased borrowing, saying it was wrong to continue borrowing without a tangible plan for debt repayment.

However, when contacted to authenticate the claim, the spokesperson of CBN, Osita Nwanisobi, said he was not aware of any N60bn that was printed.

Similarly, when contacted to speak on the issue, the Federal Ministry of Finance, Budget and National Planning said inquiries on the matter should be directed to the governor who made the allegation.