The Edo State Governor, Godwin Obaseki, yesterday, urged the Minister of Finance, Budget and National Planning, Zainab Ahmed, to rally Nigerians to save the tumbling economy, rather than playing the ostrich. The Ways and Means related loans are legal means by which the central bank lends money to the Federal Government to fund budget deficits. xWith the preceding, the CBN doesn’t have the authority to print money beyond 5% of FG revenue in 2019. Total revenue generated in 2019 was ₦4.12 trillion. Therefore, the total stipulated money printable by CBN should not exceed ₦206 billion (5% of revenue generated in 2019).

Source: The Guardian April 16, 2021 03:45 UTC