Presidency Reacts To Statement Alleging Tinubu Advised Indiscriminate Printing Of Naira

Adoga Stephen By Adoga Stephen - Editor-In-Chief
2 Min Read

The Presidency has rejected claims that President Bola Tinubu suggested printing N22.7 trillion under the previous APC-led administration of former President Muhammadu Buhari.

Recently, the Minister of Finance and Coordinating Minister of Economy, Wale Edun, blamed the current inflation in Nigeria on the excessive printing of money during Buhari’s time in office, which he believes was done without any real economic benefit.

During a meeting with the Senate Committee on Finance, Edun emphasized the serious financial challenges facing the country. He also announced plans for a thorough audit of the N22.7 trillion allegedly printed without purpose, aiming to improve transparency and accountability in economic management.

In response, Paul Ibe, spokesperson for former Vice President Atiku Abubakar, criticized Edun’s statement, claiming that President Tinubu had encouraged Buhari to pursue this reckless financial strategy in 2020.

However, in a statement released by presidential spokesperson Bayo Onanuga, it was clarified that President Tinubu never advised or supported the Buhari government in printing more money to address economic issues.

Onanuga explained that Tinubu did not recommend printing Naira, as wrongly reported in 2020, and provided a correction the day after the false information was circulated.

He wrote: “President Tinubu did not advise the Buhari administration to print Naira, the way it was erroneously reported in 2020. He provided a clarification in Thisday of 30 March 2020, a day after the false report came out.”

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By Adoga Stephen Editor-In-Chief
Stephen studied Mass Communication at the Lagos State Polytechnic, Ikorodu (now Lagos State University of Science and Technology), where he acquired requisite training for the practice of journalism. He loves the media, and his interest mostly lies in print medium, where his creative writing skill makes him a perfect fit.