Oyogist.com has learned that CBN Governor, Emefiele has refuted Gov. Obaseki claims of the CBN printing money to be shared among several states.
Emefiele disclosed this during an inspection tour on the Nasarawa State proposed $500m Dangote sugar processing facility.He said the concept of printing of money is about lending money.
Emefiele said;
It’s important for me to put it this way that in 2015/16, the kind of situation we found ourselves in, we did provide a budget support facility to all the states of this country.
“That loan is still unpaid up till now. We are going to insist on them paying back the money since they are accusing us of giving them loans.”“If you understand the concept of printing of money, it is about lending money. That is our job. To print is about lending money.“So, there is no need of putting all the controversy about printing of money as if we go into the factory, print the naira and start distributing on the streets.“It is very inappropriate for people to give colouration to printing of money as if it is some foreign words coming from the sky.
“It’s important for me to put it this way that in 2015/16, the kind of situation we found ourselves in, we did provide a budget support facility to all the states of this country.“That loan is still unpaid up till now. We are going to insist on them paying back the money since they are accusing us of giving them loans.”
