The allegation by Governor Godwin Obaseki that the Federal Government printed between N50bn and N60bn to augument March allocation to States has drawn the reaction of Minister of Finance, Budget and National Planning, Zainab Ahmed.
Last week’s Thursday, Obaseki raised the alarm alleging that Nigeria is in poor financial state, prompting the Central Bank of Nigeria to print about N60bn to augment allocation shared by states in March.
“When we got FAAC for March, the Federal Government printed additional N50-N60bn to top-up for us to share. This April, we will go to Abuja and share. By the end of this year, our total borrowings are going to be within N15-N16tn,” the governor said.
Ahmed on Wednesday in an interview with State House correspondents rubbished his claim saying, “The issue that was raised by the Edo State Governor for me is very, very sad. Because it is not a fact.
“What we distribute at FAAC is revenue that is generated and in fact distribution revenue is public information. We publish revenue generated by FIRS, the customs and the NNPC and we distribute at FAAC.
“So, it is not true to say we printed money to distribute at FAAC, it is not true.”