Nigeria Former Central Bank Deputy Governor Criticizes Nigerian Government's $1.5 Billion World Bank Loan

Former Deputy Governor of the Central Bank of Nigeria (CBN) and one-time presidential candidate, Kingsley Moghalu, has launched a scathing critique of recent financial decisions made by the Federal Government of Nigeria. His condemnation revolves around two key issues: Nigeria's pursuit of a substantial $1.5 billion loan from the World Bank and reports of the government's plan to allocate N160 million for the acquisition of SUVs for all 360 members of the House of Representatives.

Moghalu took to the public forum, expressing his disapproval of these financial choices with a poignant statement, declaring, "We are not yet serious as a country."

He further voiced his concern that Nigeria is rapidly "becoming a carcass, and our political class its scavengers." Moghalu's comments have ignited a flurry of reactions from the public, with many individuals sharing his dismay at the increasing national debt and extravagant vehicle purchases for lawmakers. However, there have also been dissenting voices.

Some have expressed their disagreement on platforms like Twitter, using strong language, while others have commended Moghalu for his candidness.

These unfolding developments have sparked a broader conversation about responsible governance, financial prudence, and the critical need for fiscal decisions that prioritize the welfare of the Nigerian populace. The debate continues, with Nigerians closely scrutinizing the government's actions and assessing their potential consequences for the nation's economic future.