March Allocation: Governors asked us to borrow from CBN, but we refused- Ahmmed

Another dimension has been added to the alleged printing of N60bn by the Central Bank of Nigeria to augment the allocation of of March.
The Minister of  finance, budget and national planning,  Zainab Ahmed said that state Governors want the Federal Government to borrow from the CBN to address the shortfall in the March allocation, but the Federal Government rejected the request.
Ahmed said thus wwhile speaking on Good Morning Nigeria programme, on the Nigeria Television Authority (NTA), on Monday.
Godwin Obaseki, governor of Edo state, had alleged that the federal government printed N60 billion to help the states in the allocation of March.
However, the claim was denied the the Federal Government through the Minister of Finance.
Acccording to the Minister,  whenever there is reduction in federal allocation, the federal government takes money from some special ccounts, but in the case of March allocation which fell by N50 billion, state governments were advised to manage their resources well.
“It is a difficult time, I can explain to you how difficult it is not just for the federal government but also for the states, we see increasing reduction in our FAAC revenue,” she said.
“In the month of March, we had a shortfall of FAAC that is almost about N50 billion and we did not have enough accrued in any of those accounts, the states to be honest wanted us to borrow from the Central Bank, but we resisted, we just told everybody to go back to live within what they had.
“So it was very surprising for us when we heard a sitting governor saying that CBN has printed money for FAAC, that was very unfortunate because it is not true.”

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