The former governor of Edo State, now a senator, Adams Oshiomhole, has blamed the old government led by President Buhari for Nigeria’s current money problems.
Oshiomhole said the Central Bank of Nigeria (CBN), during Buhari’s time, printed a lot of money that the country didn’t earn. He explained that this caused the naira to lose its value and made the cost of things go up.
He spoke at a meeting in Benin City on Saturday, June 28, 2025, where he said the money was printed under a plan called “Ways and Means.” This plan allows the government to borrow money from the Central Bank in emergencies. But according to Oshiomhole, the Buhari government abused it by printing over ₦31 trillion, which caused serious problems.
He compared it to what happened in Zimbabwe and Uganda many years ago when those countries also printed too much money, and their money became almost worthless.
Oshiomhole said, “They gave it a big name — Ways and Means — but all it really means is printing money we didn’t have. It made the naira weak and caused prices to go high.”
He also said the current government has stopped this bad practice, but the damage was already done, and that’s why Nigerians are still facing hard times
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