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Doubt over NNPC's viability as liabilities exceed assets by N4.6tr

Doubt over NNPC's viability as liabilities exceed assets by N4.6tr
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Experts urge restraint on FG's currency printing, overdraft


By Chris Agabi, Francis A. Iloani (Abuja) & Sunday M. Ogwu (Lagos)
Experts have urged the federal government to exercise caution over the printing of the naira currency (Ways and Means) to fund its needs.
Edo state Governor, Godwin Obaseki, recently said the Central Bank of Nigeria (CBN) printed about N60 billion (Ways and Means) to augment the amount distributed to states in March 2021 by Federation Account Allocation Committee (FAAC).
Ways and Means (W&M) financing is basically the printing of money by the CBN to enable the FG to plug its budget deficit.
Since 2015, when President Muhammadu Buhari first assumed office, the total amount of money borrowed from the CBN (Ways and Means) to meet fiscal obligation has surged astronomically. ....

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