States depend on printed money from CBN to survive – Senior Lawyer, Agbakoba

States depend on printed money from CBN to survive – Senior Lawyer, Agbakoba


 A Senior Advocate of Nigeria, Olisa Agbakoba, has decried
the dependence of states on monthly allocation for survival.

 

Speaking in an interview on Politics Today, a programme on
Channels Television on Friday, Agbakoba urged various
states of the federation to be self-reliant.

 

“If you want to have economic prosperity, involve more of
the political leaders in the process. We have 774 Local Government chairmen and
36 governors who are idle.

 

”Other states are bankrupt, except maybe Rivers and Lagos;
they depend on printed money from the Central Bank of Nigeria, CBN.

 

“They are absolutely fiscally deficit, and they can’t
function. They have to come to Abuja every month to collect printed money to
pay civil servants,” he said.

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Source: Nigerianeye

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