After denial, CBN governor, Emefiele justifies CBN printing of more money to finance Nigeria.
Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele said on Thursday that state governments would begin repaying the federal government’s Budget Support Loans.
He said this in response to Edo State Governor Godwin Obaseki’s allegations that the federal government printed money to supplement March revenue shared by the Federation Account Allocation Committee (FAAC).
The governor said that the federal government is borrowing without a long-term strategy for dealing with its debt.
This admission by the CBN governor comes a day after Finance Minister Zainab Ahmed called Obaseki’s statements “sad” and “untrue”.