N60bn: Stop playing ostrich with monetary policy, Obaseki hits FG

Governor Obaseki, left, and Zainab Ahmed

By Jethro Ibileke/Benin

Edo State Governor, Mr. Godwin Obaseki, has advised the federal government to face economic realities confronting the nation and stop the “current monetary rascality in the country’.

He noted that such proactive measures would prevent the prevailing economic challenge from degenerating further.

Obaseki who last week raised the alarm over the plummeting economy of the country, alleged that the federal government printed additional N50 to N60 billion to top allocations to states in March, in addition to borrowing.

However, the federal government, through the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, denied Obaseki’s claim, described the allegations as false and sad.

“The funds being shared at the monthly Federation Account Allocation Committee (FAAC) meetings were generated revenue from government institutions, and the details are available on the ministry’s website,” Zainab had said.

Nonetheless, the Edo governor in a statement he personally signed and made available to journalists on Thursday in Benin City said, “Ultimately, time shall be the judge of us all.

“We believe it is imperative to approach the Nigerian project with all sense of responsibility and commitment and not play to the gallery.

“Our advice is that we stop playing the Ostrich. the government should take urgent steps and prevent the economy from total collapsing.

“Rather than play the Ostrich, we urge the government to take urgent steps to end the current monetary rascality, so as to prevent the prevailing economic challenge from degenerating further.”