CBN Removes Report On Alleged ₦3.8 Trillion Loan From Tinubu Government

CBN Removes Report On Alleged ₦3.8 Trillion Loan From Tinubu Government

The Central Bank of Nigeria (CBN) has taken down data from its website, which reportedly revealed a fresh loan of N3.8 trillion provided to the federal government through Ways and Means during the second half of 2023 under the Tinubu administration……READ ALSO Ned Nwoko Urges CBN Caution Amid Naira’s Rise Against Foreign Currencies

This removal comes despite claims by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, that no such borrowing occurred.

According to provisional data published in the latest statistics bulletin for the fourth quarter of the year, the total Ways and Means balances due by the government surged to N8.2 trillion as of December 2023, up from N4.4 trillion at the end of June 2023 when the Tinubu government took over.

The balances, initially at N4.36 trillion by the end of June 2023, witnessed a steady increase every month, reaching N8.21 trillion by December 2023, marking an 88% rise in just six months. However, the data, which was uploaded on April 19, 2024, has now been removed from the CBN website, with attempts to access the report resulting in an error message indicating that the report cannot be found.

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