PDP Condemns Deceit by FG Over Currency Printing

Admin 17-Apr-2021 Politics

Kayode Ogundare

The Peoples Democratic Party (PDP) has condemned in no small measure what it called “game of deceit, falsehood and concealment of facts” on the expose by Governor Obaseki on the indiscriminate printing of N60 billion by the Central Bank of Nigeria (CBN) and told President Muhammadu Buhari to take responsibility for the damage being done to the economy by the printing

 Kola Ologbondiyan, National Publicity Secretary of the PDP in a statement, called for the immediate removal of the Finance Minister, Zainab Ahmed, for allegedly attempting to conceal the facts concerning the printing. 

The PDP spokesman stated that the admission by the CBN Governor, Godwin Emefiele, that ‘the apex bank has been printing money at the bidding of government’, has vindicated its earlier stand that the Buhari-led APC administration was characterised by concealments, deceit and falsehood.

The PDP derided the Minister of Finance, Budget and National Planning, for attempting to mislead Nigerians by denying the revelations by the Edo State Governor, Godwin Obaseki.

The opposition party said: “Obaseki, as a financial expert, who is not known for flippancy, must be commended for his act of patriotism in exposing the dire economic situation into which our nation has been plunged by the Buhari administration.

“A situation where the Federal Government cannot articulate and implement policies favourable to wealth creation but resorting to borrowing and indiscriminate printing of currency notes, only goes to further confirm that the Buhari administration lacks the credibility and capacity to run a nation.”

The PDP further noted that the admission by the CBN governor that “Nigeria is unfortunately in a very bad situation” further justified its position that the Buhari-led APC administration has wrecked Nigeria’s economy, saying it was worried over the huge negative impact of indiscriminate printing of currency, which it noted, has led to the unprecedented rise in inflation rate to 18.17 per cent as disclosed by the National Bureau of Statistics (NBS) last Thursday.

“This situation has led to further economic hardship with surging prices and fallen purchasing power throwing millions of families in distress and unable to afford the basic necessities of life,” it added.

The PDP called out President Buhari to come clean on the amount that has been printed so far by the CBN to finance the deficit caused by the financial “mismanagement” of his government as well as what the funds had been used for, adding: “Furthermore, for failing the full disclosure test, the PDP demands that the Minister of Finance should immediately be relieved of her position, while the President accepts responsibility for the indiscriminate printing of currency in our naira.”

The party implored President Buhari to save the nation by allowing better hands to manage and salvage the economy before it is too late.

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