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N60bn Money Print Claim, A Campaign To Smear Govt’s Effort, CSOs Lambast Obaseki
The coalition of civil society groups have said the statement earlier made by the Edo state governor, Godwin Obaseki alleging that the federal government printed N60 billion to augment March allocation to states, was a mere campaign to smear the effort of the Central Bank of Nigeria (CBN).
In a statement jointly signed on Wednesday in Abuja by the President of the group, Bassey Etuk Williams (JP) and the Secretary, Abubakar Ibrahim read; “The essence of this press conference is the correct the falsehood been peddled by some individuals and some political parties regarding the printing of Sixty Billion Naira. This issue prompted the emergency meeting of the zonal and national executives of the Coalition of Civil Society Group. The group x-rayed the issue and in a bid to prevent misinterpretation and rekindle the confidence and trust reposed on the CBN and the Governor in particular, we decided to put the record straight.
“Gentleman of the press, It is with great pleasure that we welcome you to this Press Conference being addressed by the leadership of Coalition of Civil Society Groups, on the ranging controversies thrown up by a siting Governor from Edo State, someone who we believe should have a better understanding on workings of the economy and governance.
“We have watched with keen interest overtime, and we won’t be doing justice to the entire nation if we don’t make effort to disabuse the minds of our citizens on the falsehood been peddled around by some individuals for political gains and to distract the government. It is unfortunate and we condemn the political dimension the issue has taking.
“The issues raised by Gov. Obaseki and others; alleging that N60 Billion was printed by CBN and the Federal Government to augment for the March, 2021 FAAC allocation, is orchestrated by enemies of Government just to whittle down the confidence Nigerians have in the government and her effort to invigorate the economy.
“After our due consultations and enquiries, our Group discovered that the allegation was just falsehood capable of distorting progress recorded and as campaign to smear the effort of a performing Governor of the CBN. Reports made available to us reveals that going by the money FAAC share, the funds are monies generated and domiciled in the federation account, and is usually shared to the states every month.
“There was no evidence that the March allocation was borrowed which contradicts the claims of those saying March allocation money was printed. We further discovered that all the states owe the CBN. These monies are bailout funds given to them to cushion the effects of the difficulties experienced by the governors in their bid to deliver on good governance.
“We don’t need such distractions at this time when the country is facing much insecurity and hunger in the country. We need patriotic interventions and we equally expect progressive contributions towards developing and governing the Nigerian polity.
We condemn the falsehood and the controversy been generated; this is not what we need at a time like now.
“We salute the courage of the CBN Governor for rising to the occasion and quickly correcting the wrong notion been expressed by nay sayers.
We hope that this matter has been put to rest by that singular sincere and patriotic disposition and effort of the CBN Governor and we implore the state governors to pay back.
“We have followed the activities of the Governor CBN especially during the covid-19 pandemic; we applaud his effort, policies and programmes embarked upon to cushion the effect of the pandemic.
Governor Emefiele has also backed up his pledge to facilitate job creation with the creation of the Creative Industry Financing Initiative (CIFI), which is being implemented in collaboration with the Bankers’ Committee.
“Without equivocation, Emefiele’s contribution to the development and growth of the Nigerian economy, as well as innovations in development financing is worth celebrating.
He has encouraged the diversification of the economy and stimulate growth in the agriculture sector in line with President Muhammadu Buhari’s plan, he put in place an innovative Agric credit plan: Anchor Borrowers Programme and this has increased yield per hectare.
He stabilized the Naira and put the economy on a right footing. And his effort has pulled the country out of recession.
“CBN Governor has embarked on other policies such as the Youth Entrepreneurship Development Programme (YEDP), Accelerated Agricultural Development Scheme (AADS), the Agri-business/Small and Medium Enterprises Investment Scheme (AGSMEIS) all in an effort to build a strong economy”.
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Alake Inaugurates Nigeria-US Solid Minerals Committee, Dismisses $700bn Claim, Says No Assets Sold
Joel Ajayi
The Minister of Solid Minerals Development, Dr. Dele Alake, on Tuesday inaugurated the Nigeria-United States Committee on Strategic Cooperation in the Solid Minerals Sector in Abuja, dismissing reports that Nigeria sold $700 billion worth of solid minerals to the US.
The inauguration followed the strategic cooperation framework established between Nigeria and the United States during the 81st United Nations General Assembly in New York.
In a statement issued on Wednesday by the Head PRESS and Public Relations Department Mrs. Kania Maliki Andeyaba stated that, Alake in the Memorandum of Understanding, MoU, signed with the US is a government-to-government platform to facilitate business-to-business engagements between American investors and Nigerian local operators, not a sale of assets.
Harping on the importance of the solid minerals sector to President Bola Ahmed Tinubu’s economic diversification agenda, he noted that the administration was committed to reducing dependence on a mono-product economy through the sustainable development of Nigeria’s vast mineral resources.
According to him, the Nigeria–US partnership as a strategic initiative to attract investment, promote technology transfer, strengthen local mineral processing and create employment opportunities.
“There is no sale of any Nigerian asset. There’s nothing exchanging hands,” Alake declared.
“We created a platform to facilitate mingling of US investment ventures with Nigeria’s local operators. It is in the public domain. We signed it in public and published it in four or five national newspapers.”
The Minister said reports claiming the US was coming to take over Nigeria’s minerals and security architecture were untrue at best and products of riotous imagination at worst.
Explaining the policy thrust, Alake said Africa has historically held the short end of the stick in global economic transactions, and Nigeria is determined to change that model.
“We have the resources, the critical elements the world needs to transit to clean energy. So we are creating a new paradigm — you bring your capital, expertise and technology, to match with our natural resources and create a win-win situation . The investor gains, Nigeria gains.’’he said.
Nigeria, he stressed, had operated a mono-cultural economy dependent on oil, while solid minerals were exploited informally — with ores taken “from pit to port” without value addition.
Alake said government has now made local processing mandatory, refusing to grant mineral titles to investors without a clear pathway to processing in Nigeria.
He said the policy led to the springing up of processing factories, including the largest lithium processing plant in West Africa commissioned recently in Nasarawa by the Vice President, and informed the formation of the African Minerals Strategy Group.
Alake noted that investor confidence has returned due to macro-economic reforms by President Bola Tinubu that guarantee security of tenure and repatriation of profits.
He charged the committee to discharge its assignment responsibly, saying its work is strategic to achieving the President’s $1 trillion economy target.
To this end, he told the Committee to ensure effective coordination, identify investment opportunities and translate the framework into measurable outcomes capable of positioning Nigeria as a competitive player in the global solid minerals industry.
In his welcome address, Permanent Secretary of the Ministry, Engr. Faruk Yusuf Yabo, said the inauguration translates growing bilateral engagements into a structured framework for practical cooperation and investment mobilization
Economic Officer at the US Embassy, Jonathan Baas, said President Donald Trump has prioritized three areas for US embassies — energy, artificial intelligence/super intelligence, and critical minerals.
Baas said Washington’s direction is to work with partners to secure critical supply chains while ensuring partners capture value.
“We just signed a contract today on looking into building AI data centres in Nigeria at the Nigerian Economic Summit. That’s the direction Washington wants us to go,” he said.
In his vote of thanks, CEO/Managing Director of Nigeria Solid Minerals Company, NSMC said that the committee
is expected to coordinate implementation, facilitate investment and monitor progress towards achieving the objectives of the Nigeria–US cooperation framework.
The inauguration reinforces the Federal Government’s commitment to repositioning the solid minerals sector as a key driver of economic diversification, industrial development and national prosperity under President Tinubu’s Renewed Hope Agenda.
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