Nigeria: Central Bank Endangers Economy As Bank Illegally Funnels Huge Cash to Fund 'Broke Federal Govt'

25 September 2017

A massive and clearly illegal multi-source funding of the federal government by the Central Bank of Nigeria (CBN) could drag the Nigerian economy to its knees, experts familiar with domestic monetary conditions and current happenings at the CBN have warned.

The central bank had, in the last one year, pumped trillions of naira in illegally financing the federal government under different guises: from mass purchase of treasury bills to humongous direct financing of the government through the "window account".

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