Nyesom Wike, governor of Rivers, has backed the claim by his Edo state counterpart, Godwin Obaseki, that N60 billion was printed by the Central Bank of Nigeria (CBN) to fund the government.

Last week, Obaseki had said Nigeria is in huge financial trouble, adding that the federal government printed N60 billion as part of federal allocation for March.


The claim has been generating varied reactions including from Godwin Emefiele, CBN governor, who said the money was meant as a loan from the apex bank.


Speaking with journalists in Abuja on Sunday, Wike said the allegation by Obaseki cannot be regarded as spurious.


 “Obaseki was in APC, so he understands them. So, Obaseki couldn’t have come from the blues to say they printed N60 billion. He knows them,” Wike said.


“Instead of answering the question, he (Emefiele) said governors have to pay back the bailout loan. Bailout is a loan, if you want to take it, go and take it. But answer the question whether money was printed or not printed.”


Zainab Ahmed, minister of finance, budget and national planning, had described the claim by Obaseki as false, saying Nigeria’s debt is still within sustainable limit and efforts are on to improve the revenue generation capacity.

However, Obaseki stood his ground and asked the federal government to end the current monetary rascality and stop “playing the ostrich” to prevent the economy from further degenerating.