By Our Reporter
Abuja (Precise Post) – The Governor of Central Bank of Nigeria, Godwin Emefiele may have been vindicated after all as evidence has emerged that the apex bank of other countries printed currencies to cushion the effects of COVID-19 to their economies.
Precise Post recalls that the Edo state governor, Godwin Obaseki has raised the alarm that the Nigerian economy is seriously bleeding with rising debt profile and that the CBN had to print about N60 billion for allocations to states for the month of March.
This revelation did not go down well with the minister of Finance swiftly reacted and denies the claim by the Edo state governor, Godwin Obaseki. Following the denial, Obaseki reiterated that he still maintains his claim.
However, oThursday, the Governor of the Central Bank of Nigeria, Godwin Emefiele said that the action of the Central Bank is not strange as it is not different from what other Central Banks did in other climes to ensure that their economies remain afloat in the face the vagaries of the economy.
It’s noteworthy to stress that Obaseki has committed no crime by presenting the facts as they are, also Emefiele has been vindicated with the data and statistics presented below to the effect that it’s not strange that the apex bank should not fold it’s hands and watch economy nosedive without providing shock-absorber.
However, pundits are worried as to what purpose the denial by the minister of Finance is meant to serve.
The table below shows list of countries that printed money and how much they printed in reaction to COVID-19 pandemic.