Breaking: NEC dismisses allegations from the FG published N60 billion to shore up March allocation to States


The National Economic Council (NEC) has dismissed allegations by the Federal Government printed N60 billion to shore up March allocation to States.

Edo Governor Godwin Obaseki had accused the Federal Government of fiscal recklessness in printing additional cash to meet up with allocations faulting the current administration’s borrowing pattern.

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, had denied the allegation.

But during its digital assembly Thursday, NEC presided over by Vice President Yemi Osinbajo, having obtained presentations from Minister of Finance, the Central Bank (CBN) Governor Godwin Emefiele and Nigerian Governors’ Forum (NGF), said it had been satisfied with that no money was printed for March allocation.

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The assembly was attended by many economists, FCT Minister in Addition to the Ministers of Transportation Rotimi Amaechi; Information and Culture Lai Mohammed; Aviation Senator Hadi Sirika and Water Resources, Suleiman Adamu. The Council expressed satisfaction with clarifications made by the NGF represented by its Chairman, Governor Kayode Fayemi, Ahmed and Emefiele about the alleged printing of N60 billion from the Federal Government.

The Minister and CBN Governor stated the allegation of this printing of money to augment allocation was outright false.

The NGF also supported the decision and NEC confirmed the like the greatest constitutional body tasked with economic affairs in the nation, according to the spokesman of Vice President Laolu Akande.

On safety concerns in parts of the country, the Council unanimously confirmed the unity of Nigeria and said it would adopt the report of the nationwide town hall meeting National Unity and Security held recently in Kaduna.

Details soon…

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