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Nairaland Forum / Nairaland / General / Politics / Wike Defends Obaseki’s ₦60 Billion Printing Claim (20109 Views)
Serving Governor Withdrew ₦60 Billion Cash In Six Years ― EFCC / Obaseki: "FG Printed 60 Billion Naira For States To Share" / Nigeria To Disconnect Niger, Benin Over ₦2.60 Billion Electricity Debt (2) (3) (4)
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Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by SIRTee15: 7:37am On Apr 19, 2021 |
Jerryherd:Fiat money backed with what? All money in circulation must be an outcome of services rendered or goods produce. What CBN did is as good as printing digital money. Now there's more naira in circulation without commensurate increase in production in goods or services. That's inflation and Obaseki is right. 2 Likes |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by maasoap(m): 7:42am On Apr 19, 2021 |
punisha: Printing money is not morally wrong, Mr Economist. The money you have been spending all these years were printed. And you equally see new notes in circulation from time to time, did you actually think that those money were digged up from the ground? There was a thread here few days ago about how UK, USA, Chaina, SA, etc printed money, trillions in naira equivalents. If Nigeria with GDP of over 400 billion dollars decided to print 125 million dollars, I don't think it is worth crying over. The problem is that many of you don't understand how this thing works, in most cases, you guys just go with the crowd. |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by Masterito(m): 7:48am On Apr 19, 2021 |
Learn to read before you comment. Trust me you are just frustrated. Funkeshuga: |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by eldeens: 7:54am On Apr 19, 2021 |
grossintel: Go and check your facts, or let me help you, just Google the countries that printed money during the COVID-19 crackdown, you will thank me later cos you have been schooled. |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by RichAbujaGuy: 7:55am On Apr 19, 2021 |
Don't forget, The Honourable GEJ sacked Sanusi (a northerner) and replaced him with Chairman Godwin Emefiele (a southerner). PMB re-nominated him (the southerner) for the job in 2019. We love 9ja history. ![]() BREAKING: President Jonathan appoints Zenith Bank chief as new CBN governor By Ini Ekott February 20, 2014 https://www.premiumtimesng.com/news/155478-breaking-president-jonathan-appoints-zenith-bank-chief-new-cbn-governor.html President Jonathan Appoints Zenith Bank Chief As New CBN Governor 10:59pm On Jan 13, 2015 https://www.nairaland.com/2092034/president-jonathan-appoints-zenith-bank
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Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by Nobody: 8:02am On Apr 19, 2021 |
eldeens:I'm not Googling shit, when money is printed out of thin air in exchange of nothing inflation is the end result. Why not let everyone print money so we don't have to work? Nonsense. |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by baseb: 8:13am On Apr 19, 2021 |
Unless I do not fully understand, it seems wike is not aware of the money printed. It also seem as if obaseki happens to be the only one who knew about this. I probably do not understand either obaseki's statement or wike's response. 1 Like |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by Amaechi2023(m): 8:15am On Apr 19, 2021 |
too much talk has pushed woke out of point. the CBN governor clearly admited the printing of billions and also claimed it's done everywhere in the world. why the excess noise from the noise maker? what's wrong in paying back the money you were borrowed? |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by sentix(m): 8:16am On Apr 19, 2021 |
The most painful part is that 30 billion of the money will end up in private pockets |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by Amaechi2023(m): 8:17am On Apr 19, 2021 |
punisha:the CBN governor didn't deny printing of money, infact he clearly admitted itba d gave his reasons while also citing examples that's it's been done all over the world. what is wike point now. shouldn't states pay back the money that was loaned to them again? |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by sentix(m): 8:18am On Apr 19, 2021 |
We are students of history Ask what happened in Venezuela and Zimbabwe. Anybody claiming Nigeria's GDP is 400 billion is confused. How can a country with such GDP be less developed than most poor countries and Behind South Africa, Namibia, Angola and Kenya Even war torn countries Amaechi2023: |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by Amaechi2023(m): 8:19am On Apr 19, 2021 |
MEGAWATCH:I think you should go and read the CBN governor statement on why they printed money. una dey lack behind oo. instead of watching news, una go dey watch zee world.. |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by FemolasticA: 8:22am On Apr 19, 2021 |
Money heist in the building ![]() ![]() |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by Amaechi2023(m): 8:22am On Apr 19, 2021 |
sentix:don't just be student of history, be student of rational thinking. Nigeria GDP can be over that amount and yet we are still poor. having 1 million as salary is a huge amount when you have just 2 children to train. but having same 1 million with 50 children is pure poverty. Nigeria GDP is highest in Africa but GDP per individuals we are one of the lowest. |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by knightphoenix: 8:49am On Apr 19, 2021 |
Jerryherd:you dey talk like say you no know wassup. |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by Funkeshuga(m): 9:06am On Apr 19, 2021 |
Masterito: learn to read what exactly? you mean that gibberish imbecilic post you cooked up there? there are some post that are good to be overlook, it can reduce one IQ seek help and redress your derailed mental state. APC and PDP have fúcked you people timelessly and you're here defending foolishness |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by billyG(m): 9:10am On Apr 19, 2021 |
They should have REJECTED the money. |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by garfield1: 9:16am On Apr 19, 2021 |
AustineCJ: Stop this boy.this is nonsense.where is your evidence? So because you hate apc,you now believe that they printed money? Pity you.people will judge you same way |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by garfield1: 9:18am On Apr 19, 2021 |
Mikehot: How did he know? A politician is capable of any lies.he is in pdp and can easily lie about them.how did he know? Was he there |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by billyG(m): 9:20am On Apr 19, 2021 |
From time to time money are printed as our legal tender cannot last 6months d way we handle & mutilate notes. My question did obaseki & other governors collect physical printed cash? |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by eldeens: 9:34am On Apr 19, 2021 |
helinues: I am with you brother, just that if one dosent agree with you then he says all sort of rubbish to drag you to the mud, practice of printing money is a global trend, US, UK even China printed Money to sustain their economy, nobody hears about them, but since its Nigeria, where we have bunch of illiterate full of hatred will never see it a good idea. And most people thought that CBN printed hard copy notes and share among states oo, not knowing that, the money was electronically transferred to the affected states. |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by billyG(m): 9:35am On Apr 19, 2021 |
naijanaso:Let obaseki tender his own share of d printed #60n as evidence. |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by RichAbujaGuy: 9:41am On Apr 19, 2021 |
sentix: Yup, we love to study and learn from history. Some developed/colonial/western nations have had a playbook to destroy the economies of some developing countries/colonies that didn't tow the line for quite a while. We all know Robert Mugabe and Hugo Chávez were on the sh*t list. It still goes on today. As far as Naija's non GDP developmental progress, The UK has been raping the amalgamated protectorate since the 19th century. Very tricky d-evils. Here's one example from history. "American Revolution The use of counterfeit money has been used as a strategy in warfare for centuries. ... To counter this, Great Britain enlisted teams of counterfeiters to travel throughout the American Colonies, placing their counterfeits into circulation in the hopes that it would cause an economic disaster. Motive: Colonial loyalist who served in British ..." Criminal charge: espionage and counterfeiting David Farnsworth was a Colonial-era American Loyalist. He was a British agent during the American Revolutionary War. George Washington had him hanged for his involvement in a plot to destroy the American economy by placing counterfeit money into circulation. The use of counterfeit money has been used as a strategy in warfare for centuries.[3] The idea is to flood the enemy's economy with fake money, thus devaluing the real money and causing an economic collapse, rendering the enemy unable to fund their side of the war. During the American Revolutionary War, the Continental Congress decided to create a new Continental currency to fund the war. Among the people enlisted to print this new currency was Paul Revere.[4] https://en.wikipedia.org/wiki/David_Farnsworth#:~:text=American%20Revolution,-Farnsworth%20initially%20joined&text=The%20use%20of%20counterfeit%20money,strategy%20in%20warfare%20for%20centuries.&text=To%20counter%20this%2C%20Great%20Britain,would%20cause%20an%20economic%20disaster. |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by eldeens: 9:45am On Apr 19, 2021 |
grossintel: Lazy youth Who told you they printed hard copy of the notes, I didn't know I am conversing with an olodo. That's not how it works, let me school you. CBN did not printed hard copy of that N60b to be shared among states, what CBN did was creat money, and wired the money to the states account to sustain the economy during the COVID-19 crackdown, CBN prints hard copy money only to replace the mutilated notes or when it introduces new notes. Obaseki and Wike are ignorant of what they are saying, Obaseki can be asked, how did he collects his money, was it in cash or transfered? |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by Nobody: 10:03am On Apr 19, 2021 |
eldeens:It's obvious you're a fool. Did I mention CBN printed hard copies of the Naira note. Before you open your mouth and start offering free lectures, read properly! Was any services sold or rendered in exchange of the printed sum? Was oil sold? Go back to school and study the economic implications of printing money in exchange of nothing! 1 Like |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by AmazingELixir: 10:46am On Apr 19, 2021 |
AllenSpencer: Your post summaries your cerebral quotient...almost like you are describing yourself puah# You left the issue at stake but instead chose to rain aspersions on yourself a clear case of fallacy ( Error in reasoning)...if you had any iota of cognitive potency you would have known that what Wike is simply saying is that the CBN come out straight to disprove Obaseki's claims instead of the baseless hissy fit. According to you Wike is not brilliant but he is a law graduate and a registered member of the bar and yet still a 2 term governor and yet you the brilliant judge in here struggling to survive what an irony. |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by OgeFather(m): 10:51am On Apr 19, 2021 |
Bellotelli: You don't know nothing !!! Please should I tell him ? |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by AllenSpencer: 10:57am On Apr 19, 2021 |
AmazingELixir: Dunce! Did you factor what I was responding to? Lengthy gibberish on a Monday. And mind you, not everyone is a pauper like you. Its wrong to conclude everyone belongs to your class. |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by Invitationn: 11:25am On Apr 19, 2021 |
Cnach:You obviously have a side ![]() I never mentioned any party in my submission. I said POLITICIANS. You blindly profiled me ![]() You're the Zombie here. ![]() |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by Invitationn: 11:36am On Apr 19, 2021 |
grossintel:Well said; except the insults ![]() However, the 'exchange and trade' context in which you're arguing only applies if the cash is shared on the streets or anywhere as giveaways not credits. |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by Ngasky(m): 11:37am On Apr 19, 2021 |
Esseite:What is the meaning of Printing in your hamlet? Or diea crediting electronically means printing in your vocabulary? |
Re: Wike Defends Obaseki’s ₦60 Billion Printing Claim by Ngasky(m): 11:40am On Apr 19, 2021 |
sentix:So tell me how the printed money was shared. Or can you check your dictionary for the meaning of *PRINTING* |
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