NEC backs finance minister, says no N60bn was printed

The National Economic Council (NEC) has supported the Minister of Finance, Budget and National Planning, Zainab Ahmed, that the Federal Government did not print N60bn to boost allocations to states in March this year.

The government had earlier denied a claim by the Governor of Edo State, Godwin Obaseki, that it printed between N60bn for the states to augment the March allocations.

Obaseki, who is a former investment banker and former finance commissioner in Edo, described the move as “monetary rascality” and urged the government to “stop playing the ostrich”.

But the council said there was no truth in the allegation that the CBN printed N60bn to augment March’s federal allocation.

Rising from its monthly meeting on Thursday, NEC which has all state governors and relevant ministers as members, claimed that the allegation was false.

The council’s resolution was made public in a statement by the Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, titled ‘OVP Flash: No money was printed to shore up March allocation, NEC affirms’.

 

 

The statement read, “Having received presentations from the Minister of Finance, the Central Bank Governor, and the Nigerian Governors’ Forum, the National Economic Council has affirmed that there was no printing of N60bn or any other amount whatsoever to shore up allocation for the month of March as wrongly insinuated recently in the press.

“The governors, having critically reviewed the matter, took the position today (Thursday) at the meeting of NEC chaired by Vice President Yemi Osinbajo.

“Today’s meeting attended by many of the state governors, FCT minister and the Central Bank Governor also had in attendance the finance, transport, information, aviation and water resources ministers.

“The Minister of State for Budget and National Planning also attended.

“The council expressed satisfaction with clarifications made by the NGF represented by its chairman, Governor Kayode Fayemi of Ekiti State, finance minister, Hajiya Zainab Ahmed, and the Central Bank Governor, Mr Godwin Emefiele, on the alleged printing of N60bn by the Federal Government.”

Akande added that both the minister and the CBN governor stated to the council that the allegation of printing of money to augment allocation was outright false.

According to him, the NGF also supported the conclusion and NEC affirmed same as the highest constitutional body tasked with economic affairs in the country.

The presidential aide on the resolution of security concerns in parts of the country, said the council unanimously affirmed the unity of Nigeria and adding that it would adopt the report of the national town hall meeting on national unity and security held recently in Kaduna.

 

He said, “The council, while welcoming the outcome of the town hall meeting, urged all states to hold wider consultations across the country and report back to NEC the outcome of the meetings.”

After this, a national consensus would be reached on the recommendations which included the adoption of state police among other matters, he added.