₦31 Trillion Vanished? Oshiomhole Accuses Buhari’s Government of Fiscal Recklessness and Irresponsibility.

₦31 Trillion Vanished? Oshiomhole Accuses Buhari’s Government of Fiscal Recklessness and Irresponsibility.

Nigeria – Politics & Economy

The news as it trends.

Senator Adams Oshiomhole has sparked national debate by accusing the administration of former President Muhammadu Buhari of printing over ₦31 trillion under the Central Bank of Nigeria’s Ways and Means facility.

Speaking at a forum in Benin City, the former Edo State governor labeled the move “reckless and excessive,” comparing it to the hyperinflation seen in Zimbabwe and Uganda under Idi Amin.

According to Oshiomhole, the funds were printed without economic backing, no productivity, no exports – just political spending.

He asserted that the unchecked monetary expansion played a key role in the collapse of the naira, surging inflation, and the overall cost-of-living crisis plaguing Nigerians today.

While he praised President Bola Tinubu’s administration for halting the practice, Oshiomhole emphasized that the burden of repaying this massive debt now rests on Tinubu’s shoulders.

The Senate is also investigating the Ways and Means facility and other controversial programs of the former CBN leadership.

To some of our readers abroad and unfamiliar with who Oshiomhole is:

Adams Oshiomhole is a Nigerian politician. As of 2025, he is serving as the Senator representing Edo North in Nigeria’s National Assembly.

He was elected to the Senate in 2023 and has remained an active voice in national politics, especially on economic and governance issues.