The National Economic Council (NEC) said Thursday that no money was printed to augment the allocations to states by the Federal Accounts Allocation Committee (FAAC) in March.
The council, made up of Vice President Yemi Osinbajo as chairman, governors of the 36 states of the federation, Minister of Finance, Budget and National Planning and Governor of Central Bank of Nigeria (CBN), among others, described the printing of new Naira notes by Governor Godwin Obaseki of Edo state as “outrightly false.”
Senior Special Assistant to the President on Media and Publicity in the Office of the Vice President, Mr Laolu Akande, told journalists after the NEC meeting held virtually that presentations were made to the council on the issue and that the council “affirmed that there was no N60 billion printed for March FAAC.
“Having had presentations on the controversy generated regarding the insinuations of alleged printing of N60billion to augment March allocations, the council affirms that there is no truth whatsoever in the claim.
“Today’s meeting reviewed the controversy and heard from the Finance Minister, the Nigerian Governors’ Forum, NGF, as represented by the Ekiti State governor, and the Governor of the Central Bank of Nigeria, CBN.
“Both the minister and the CBN governor stated categorically to the Council that the allegation of the printing of money to augment allocation is out rightly false.
“The NGF also supported the conclusion and NEC affirmed the same as the highest constitutional body tasked with economic affairs in the country,” he said.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, had on Wednesday told State House correspondents after the meeting of the Federal Executive Council (FEC) that the allegation that N60 billion was printed to augment the money distributed by FAAC in March 2021 is false.
She said the sources of monies distributed to states by the FAAC were the Nigerian National Petroleum Corporation (NNPC), the Nigerian Customs Service (NCS) and the Federal Inland Revenue Service (FIRS).
