![\"Nigeria](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2021\/04\/nigeria689000-768x432.jpg\")
<\/p>\n<\/p>\n
The fallout sparked by reports that the Central Bank of Nigeria (CBN) printed over $150 million for states\u2019 funding continued a few days after the allegations were initially made. In the latest twist, the opposition People\u2019s Democratic Party (PDP) vice-chairman Dan Orbih said the CBN governor Godwin Emefiele\u2019s response to the allegations is \u201cpolitically motivated.\u201d <\/strong><\/p>\n In his riposte, Orbih is quoted by a local news site suggesting<\/a> that \u201cif drastic measures were not taken to address the situation\u201d then the country might be headed for a worse outcome \u201cthan what happened in Uganda.\u201d The politician said:<\/p>\n We need the youths to come up with ideas and programmes that will help this government to come out of their mess because the revelations by Godwin Obaseki is a sad reminder of what happened in Uganda under former President Idi Amin.<\/p>\n<\/blockquote>\n The PDP official also concludes that \u201cno government can sustain the economy of a country with that type of abuse.\u201d<\/p>\n In his initial remarks, Godwin Obaseki, Edo State Governor alleged that the \u201cfederal government (had) printed an additional $120-$150 million (50-60 billion naira) to top-up for us to share.\u201d However, the claim has been dismissed by the Nigerian finance minister, Zainab Ahmed. According to the minister, this reported allocation is in fact \u201crevenue from different agencies of the government.\u201d<\/p>\n In his own response to the allegations on April 15, governor Emefiele called the claims \u201cunfortunate and totally inappropriate.\u201d Although Emefiele did not directly deny or confirm the claims, he argued however that \u201cthe bank must always act to support the government at times of financial difficulties.\u201d<\/p>\nMoney Printing Unsustainable<\/h2>\n
\n
CBN\u2019s Right to Print Money<\/h2>\n