PDP condemns FG’s attempt to deny printing of N60bn

April 16, 2021
21 Views

ABUJA – The Peoples Democratic Party (PDP) has condemned the attempt by the President Muhammadu Buhari-led administration to deny the printing of N60 billion by the Central Bank of Nigeria (CBN) at its behest.

The PDP asserted that the admission by CBN Governor, Godwin Emefiele, that the apex bank has been printing money at the bidding of government, has vindicated its earlier stand that the Buhari-led APC administration is characterized by concealments, deceit and falsehood.

The PDP, in a statement by its spokesman, Kola Ologbondiyan flayed the Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, for attempting to mislead Nigerians by denying the revelations by the Edo state Governor, Godwin Obaseki, that N60 billion was printed in March to support federal allocation to states.

Calling for the sack of the Minister, the party said, “Governor Obaseki, as a financial expert, who is not known for flippancy, must be commended for his act of patriotism in exposing the dire economic situation our nation has been plunged under the Buhari administration.

“A situation where the Federal Government cannot articulate and implement policies favourable to wealth creation but resorting to borrowing and indiscriminate printing of currency notes, only goes to further confirm that the Buhari administration lacks the credibility and capacity to run a nation.

“Indeed, the admission by the CBN governor that ‘Nigeria is unfortunately in a very bad situation’ further justifies our position that the Buhari-led APC administration has wrecked the economy of our nation.”

Calling on the President to come out clean on the amount printed, the PDP expressed concern over the huge negative impact of indiscriminate printing of currency which, it said has led to the unprecedented rise in inflation rate to 18.17% as disclosed by the Bureau of National Statistics (NBS) on Thursday.

“This situation has led to further economic hardship with surging prices and fallen purchasing power throwing millions of families in distress and unable to afford the basic necessities of life,” the party said.

The PDP called out President Buhari to come clean on the amount that has been printed so far by the CBN to finance the deficit caused by the financial mismanagement of his government as well as what the funds had been used for.

“Furthermore, for failing the full disclosure test, the PDP demands that the Minister of Finance should immediately be relieved of her position, while the President accepts responsibility for the indiscriminate printing of currency in our naira.

“Our party implores President Buhari to save our nation by allowing better hands to manage and salvage our economy before it is too late,” the party said.

You may be interested

Many passengers feared dead as train crushes truck, tricycle in Kano
News
2 views
News
2 views

Many passengers feared dead as train crushes truck, tricycle in Kano

Webby - January 24, 2022

An unspecified number of passengers are feared dead when a train in motion crushed a Dangote cement truck and a…

Nigeria crash out after 1-0 defeat to Tunisia
News
News

Nigeria crash out after 1-0 defeat to Tunisia

Webby - January 23, 2022

Tunisia’s Youssef Msakni’s 47th minute strike was enough to send Nigeria out of the 33rd edition of the Africa Cup…

Nigerians express sadness as Super Eagles lose to Tunisia
News
5 views
News
5 views

Nigerians express sadness as Super Eagles lose to Tunisia

Webby - January 23, 2022

Football fans on Sunday expressed sadness as Nigeria crashes out of the ongoing Africa Cup of Nations, AFCON, in Cameroon,…

Leave a Comment

Your email address will not be published.