It’s Our Job To Print Money, Says CBN

Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said
printing money is a cardinal job of the lenders.

Emefiele, on the official Twitter handle of the CBN @cenbank on
Friday, said printing money is about lending money.

He was probably responding to Edo Governor Godwin Obaseki who
alleged the Federal Government printed N60bn to augument March
allocation to States at the weekend.

There had been outcries over the Governor’s allegation which the
Federal Government dismissed as “sad and untrue.”

Obaseki replied the Federal Government on Thursday: “Rather than
play the Ostrich, we urge the government to take urgent steps to
end the current monetary rascality so as to prevent the prevailing
economic challenge from degenerating further.”

Emefiele, on Friday, said it would be irresponsible for any
Central Bank to refuse to support its government when it is in
need.

He said: “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.”

Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said
printing money is a cardinal job of the lenders.

Emefiele, on the official Twitter handle of the CBN @cenbank on
Friday, said printing money is about lending money.

He was probably responding to Edo Governor Godwin Obaseki who
alleged the Federal Government printed N60bn to augument March
allocation to States at the weekend.

There had been outcries over the Governor’s allegation which the
Federal Government dismissed as “sad and untrue.”

Obaseki replied the Federal Government on Thursday: “Rather than
play the Ostrich, we urge the government to take urgent steps to
end the current monetary rascality so as to prevent the prevailing
economic challenge from degenerating further.”

Emefiele, on Friday, said it would be irresponsible for any
Central Bank to refuse to support its government when it is in
need.

He said: “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.”