‘Allow CBN to discharge mandate efficiently,’ APC tells PDP | Ripples Nigeria
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‘Allow CBN to discharge mandate efficiently,’ APC tells PDP



The All Progressives Congress (APC) on Sunday implored the Peoples Democratic Party (PDP) and others criticising the operations of the Central Bank of Nigeria (CBN) to allow the apex bank to efficiently and effectively discharge its mandate.

The Secretary of APC National Secretary Caretaker and Extra-ordinary Convention Planning Committee (CECPC), John Akpanudoedehe, made the call in a statement in Abuja.

The party was reacting to the alleged printing of N60 billion by the apex bank to shore up by the revenue allocation for the three tiers of government in March.

He said: “Whether the CBN prints money or not, is not an issue, the apex bank should be allowed to perform its mandate.

“The CBN has several ways of creating new money.”

The APC chieftain stressed that it is important for the PDP to understand how money was created.

READ ALSO: APC govs slam Obaseki over claims CBN printed N60bn to cushion revenue shortfall

He said the PDP utterances on CBN operations would create problems for the economy.

Akpanudoedehe advised the PDP to join hands with the APC to clear the mess it left behind.

According to him, central banks all over the world printed money during the financial crisis of 2008 and 2009.

The spokesman added: “The Reserve Bank of the US printed dollars to bail out companies that were too big to fail, there is nothing wrong in printing money provided it is well managed.

“There is no evidence that the CBN is inefficient in managing the monetary aspect of the Nigerian economy.

“Let us not forget that the CBN is a banker to the government and has exercised such function efficiently and effectively.”

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