The  National Economic Council (NEC) has affirmed that there was no printing of N60 billion or any other amount whatsoever to shore up allocation for the month of March as wrongly insinuated recently in the press.

Recall that Edo State governor, Godwin Obaseki had claimed that the federal government, through the Central Bank of Nigeria, printed between ₦50 and ₦60 billion to shore up the federal allocation for March .

However, according to a statement by the spokesman of the Vice President, Laolu Akande, NEC reached the decision having received presentations from the Minister of Finance, the Central Bank Governor, and the Nigerian Governors’ Forum (NGF),

He said the Governors, having critically reviewed the matter took the position tat the meeting of NEC chaired by Vice President Yemi Osinbajo, 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.

He said 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 N60 billion by the Federal Government.

He said “Both the Minister and the CBN Governor stated to the Council that the allegation of the printing of money to augment allocation was outrightly false. The NGF also supported the conclusion and NEC affirmed same as the highest constitutional body tasked with economic affairs in the country, according to the Spokesman of the Vice President, Mr. Laolu Akande.

“On the resolution of security concerns in parts of the country, the Council unanimously affirmed the unity of Nigeria and said it would adopt the report of the national townhall meeting on National Unity and Security held recently in Kaduna.

“The Council, while welcoming the outcome of the townhall 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.

Sign up to get the latest gist and more from

Invalid email address