It’s our job to print money, says CBN

April 16, 2021
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CBN rewards Plateau farmers for paying loans on time

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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 augment 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 to the Federal Government on Thursday: “Rather than play the Ostrich, we urge the government to take urgent steps to end the current monetary rancality 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.”

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