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National Tribune

Flagging The Conscience Of Truth

Presidency Cites Anambra Governor’s Allegations of Unauthorized Money Printing, Tinubu’s Special Adviser Reacts

ByWeb Manager

Nov 25, 2023

Bayo Onanuga, Special Adviser to President Bola Tinubu, Highlights Governor Soludo’s Claims

The Presidency has referenced statements made by the Governor of Anambra State, quoting him as saying, “We sat here in this country and saw the monetary authorities literally printing money, illegally I must say because I superintended the development of drafting of the 2007 Bank Act.”

In response, Bayo Onanuga, the Special Adviser on Information and Strategy to President Bola Tinubu, took to social media to share Governor Chukwuma Soludo’s remarks. Onanuga highlighted the governor’s assertion that during the Emefiele years in the Central Bank of Nigeria (CBN), the bank was allegedly printing money in trillions, exceeding legal limits.

Governor Soludo emphasized the importance of understanding the historical context, stating, “We all sat here and saw how the CBN brazenly, illegally violated that law year after year and kept on printing money.”

The governor contended that the current monetary trajectory could have been avoided, pointing out that the CBN failed to comply with the 2007 CBN Act. He specifically mentioned the provision preventing the Central Bank from lending recklessly to the Federal Government beyond 5% of the previous year’s actual revenue.

Bayo Onanuga’s post on social media did not include further commentary, leading to speculation that the Tinubu administration may be subtly criticizing or revealing concerns about the previous administration led by President Muhammadu Buhari.

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