{"id":110830,"date":"2024-03-07T00:00:22","date_gmt":"2024-03-06T23:00:22","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=110830"},"modified":"2024-03-07T00:00:22","modified_gmt":"2024-03-06T23:00:22","slug":"buhari-printed-naira-aimlessly-for-eight-years-finance-minister","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/buhari-printed-naira-aimlessly-for-eight-years-finance-minister\/","title":{"rendered":"Buhari Printed Naira Aimlessly For Eight Years \u2013 Finance Minister"},"content":{"rendered":"<div id=\"m#msg-f:1792812164178401979\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\" style=\"text-align: justify;\">The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has blamed the current inflation in the country on printing of trillions of naira during the administration of President Muhammadu Buhari aimlessly without putting the money to good use.<\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \" style=\"text-align: justify;\">\n<div class=\"clear\">\n<div dir=\"auto\">\nThe minister spoke on Wednesday during an interface with the Senate Committee on Finance, saying \u201cwe are going to audit even the N22.7 trillion printed aimlessly.\u201d<\/p>\n<p>He said, \u201cThe N22.7 trillion printed by the Central Bank of Nigeria (CBN) through Ways and Means overdraft for the federal government from 2015 to 2023 landed Nigeria into hyper-inflation.<\/p>\n<p>\u201cWe talked about inflation. Where has it come from? It came from 8 years of just printing money not matched by productivity. What happened was that for eight years, the weak were left to their own devices. It is the privileged few that took everything. That is the reality. So that money supply must be brought back.<\/p>\n<p>\u201cYou distinguished senators have helped. You have given us the mandate to raise N7 trillion which we will do by sucking money from the market, using it to pay back the CBN and giving the government a balanced book. We are going to audit even the N22.7 trillion printed aimlessly,\u201d he said of the printing of trillions of naira during the Buhari administration.<\/p>\n<div dir=\"auto\">\nIn his closing remarks, Chairman of the Committee, Senator Sani Musa (APC Niger East), said the interactive session would be a continuous exercise so that the committee would have the opportunity of being updated on the short and long term plans of the government on how to tackle the current economic situation of the country.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has blamed the current inflation in the country on printing of trillions of naira during the administration of&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":110831,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-110830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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