Excessive printing of money under Buhari devaluing Naira – Oshiomhole

Former Governor of Edo State, Adams Oshiomhole, said that on Saturday “Excessive Money Printing” by the Central Bank of Nigeria (CBN) during the reign of the former President Muhammadu Buhari paralyzed Naira.

Oshiomhole, a senator who represented Edo North at the National Assembly, spoke at a meeting of the Progressive Governor Forum in Benin City.

He stressed that excessive printing of money by CBN through “ways and means” caused the collapse of Naira to the United States dollar.

The way and means allowing the federal government to borrow from CBN for project emergency financing or to meet urgent national needs.

“We come from a country that is almost like Uganda Zimbabwe or IDI Amin, where he asks the Governor of the Central Bank, ‘Going and Print More Money For us to share with the people’. And the Governor said, ‘If we print more money, the Uganda currency will be like a piece of paper.

Also Read: The Court Refusing the N1B Lawsuit Against Buhari, Emefiele for Naira Re -Design

“This is what the Governor of CBN was doing in the past. In the Senate, we have a note that they print more than 31 trillion, which they call ways and meaning. You know, when the government wants to deceive people, they use jargon.

“They call it a way and means, but I can tell you what it means: that means the situation where the government print paper money, not based on what we have obtained or any resources, only print paper money to go and share with people to meet their money illusions. This is the result of excessive molds from the state that causes the collapse of Governa,” former Naara.