January 30, 2021

Fitch Report: It ‘ll be immoral for CBN to deny govt financial support,say ethnic youth leaders


By Joseph Erunke

ABUJA–Ethnic youth leaders in the country have hailed the Central Bank of Nigeria, CBN, over budget  financing support to government even as they described Fitch Report as not only baseless but also a distorted one without facts, noting that it was a call for economic instability
Speaking under the aegis of Nigeria Ethnic Youth Leaders Council,they leaders said they were recently taken aback with the widely-circulated statement credited to the Fitch report which knocked the Central Bank of Nigeria for giving financing support to the federal government.

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The council, which is made up of the Arewa Consultative Youth Movement, Ohanaeze Ndi Igbo Youth Movement, Niger Delta Youth Council, Oduduwa Youths and Middle Belt Youths, is of the strong opinion that it will be immoral and economic suicide for the CBN, which is the lender of last resort not to perform its role of giving financing support to the government.
In a statement in Abuja, signed by Mallam Kabiru Yusuf,President, Arewa  Consultative Youth Movement and Nwada Ike Chiamaka,Ohanaeze Secretary General and Head of Coalition secretariat, they said:”We view any call on the CBN not to continue with what it is doing as an attempt to throw Nigeria into economic instability, an ill-wind that will not blow anybody any good.”
“We therefore commend the CBN for this laudable step which is not only patriotic but also forward-looking.
“The Fitch report is, to the best of our knowledge, baseless and aimed at causing economic instability. It should be ignored in its entirety,”the group said.