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No document on N7.5bn withdrawal, says finance ministry

Punch Newspapers
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Published 5 May 2021
THE Federal Ministry of Finance on Tuesday told the Senate Public Accounts Committee that it was not in possession of any document relating to the alleged secret withdrawal of N7.5bn.
The Senate panel had last week asked the Ministry of Finance, Office of the Accountant General of the Federation and Office of National Security Adviser to explain the alleged secret withdrawal of N7.5bn from the 2 per cent National Automotive Council Design and Development Council Levy Account domiciled with the Central Bank of Nigeria.
Speaking on behalf of Permanent Secretary, Aliyu Ahmed, a Director from the ministry, Mr Teslim Akintoye, said that the ministry was not in possession of documents concerning the transaction. ....

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Avoid reckless money printing to fund deficits, experts warn

• It is untrue we printed N60b, FG replies Obaseki
• Seek alternative funding options as country risks falling into hyperinflation
• Senate summons minister, AGF over N7.5b secret withdrawals
Five days after Edo State Governor, Godwin Obaseki, released a bombshell, saying Nigeria was in huge financial trouble after the Federal Government printed N60 billion as part of federal allocation distributed to states for March, the Presidency yesterday described the statement as complete falsehood.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, at a briefing after the 41st virtual Federal Executive Council meeting chaired by the Vice President, Prof. Yemi Osinbajo, described the governor’s claim as very sad and untrue. ....

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