FG to Obaseki: ‘you lied, we didn’t print N60bn to share at FAAC’

The Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed has faulted the claims of Edo State Governor, Mr. Godwin Obaseki alleging that it (the Federal Government) ordered the printing of N60b notes that were later shared at the Federation Account Allocation Committee (FAAC) in March.

This is coming just as the Federal Government also maintained that the country’s debt profile is still within sustainable limit.

Ahmed, stated this while fielding questions from State House correspondents at the end of the Federal Executive Council, FEC on Wednesday in Abuja.

The meeting was presided over by Vice President Yemi Osinbajo at the Council Chamber, Presidential Villa, Abuja.

Reacting to the allegation made by the Edo State Governor, the minister described it (the allegation) as untrue.

Obaseki was recently quoted to have said that the Federal Government printed about N50-N60 billion it shared during the March meeting of the Federation Account Allocation Committee, FAAC.

“When we got FAAC for March, the Federal Government printed additional N50-N60 billion to top-up for us to share. This April, we will go to Abuja and share.

“By the end of this year, our total borrowings are going to be within N15-N16 trillion,” he said in a video that recently went viral.

According to the minister, what is distributed at the monthly FAAC meetings were generated revenue from government institutions available to the public at the ministry’s website.

She added that, “The issue that was raised by the Edo State Governor for me is very, very sad because it is not a fact.

“What we distribute at FAAC is revenue that is generated and in fact distribution revenue is public information. We publish revenue generated by FIRS, the customs and the NNPC and we distribute at FAAC.

“So, it is not true to say we printed money to distribute at FAAC, it is not true. On the issue of the borrowing, the Nigerian debt is still within sustainable limit. What we need to do as I have said several times is to improve our revenue to enhance our capacity to service not only our debt but to service the needs of running the government on day-to-day basis.

“So, our debt currently at about 23% to GDP is at a very sustainable level. If you look at all the reports that you see from multilateral institutions.” Vanguard News Nigeria.”

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