Obaseki Lied, We Didn’t Print N60bn Distributed At FAAC – FG | TimeTestedNews


The Federal Government on Wednesday rubbished claims by Edo State Governor, Godwin Obaseki that it printed N60 billion which was distributed to states for the March 2021 allocation.

Obaseki had said recently that the Federal Government literally printed an additional N50-60 billion to augment the revenue shared in March by all tiers of government.

He spoke while addressing a meeting of transition committee stakeholders’ in Benin on Friday.

He said: “Nigeria has changed. The economy of Nigeria is not the same again whether we like it or not. Since the civil war, we have been managing, saying money is not our problem as long as we are pumping crude oil every day.

“So, we have run a very strange economy and a strange presidential system where the local, state and federal government, at the end of the month, go and earn salaries. We are the only country in the world that does that.”

But Minister of Finance, Budget and National Planning, Zainab Ahmed, said Obaseki’s statement was very unfortunate and very sad as it did not represent the fact.

She said what was distributed at the Federal Account Allocation Committee, FAAC, was revenue that was generated and that distribution revenue was public information.

Ahmed stated that the government always publishes revenue generated by Federal Inland Revenue Services, the Customs and the NNPC, which were distributed at FAAC.

“So, it is not true to say we printed money to distribute at FAAC, it is not true,” Ahmed added.

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