A former Deputy Governor of the Central Bank of Nigeria, Dr OBADIAH MAILAFIA, and a professor of Political Economy, PAT UTOMI, have faulted the CBN Governor, GODWIN EMEFIELE's justification of printing money to support government finances.
MAILAFIA and UTOMI, in separate interviews stated that there was no basis for comparing what Nigeria did with a similar practice by other countries.
Although the Chief Executive Officer of the Nigerian Economic Summit Group, Mr. 'LAOYE JAIYEOLA, in another interview supported the CBN governor's position on the printing of money, he warned that it was not sustainable.
He, therefore, urged government at all levels to generate revenues so that the country would not be printing money to support government every time.
Recall that the Edo State Governor, GODWIN OBASEKI, had on April 8 warned that the country was facing a serious economic problem, adding the CBN printed N60bn which was added to what was shared at the Federation Accounts Allocation Committee in March.
Although EMEFIELE, in an interview with journalists in Nasarawa State did not admit that the apex bank printed N60bn in March for FAAC, he explained the practice of printing money for government to borrow.
