Nigeria is becoming a Carcass and Politicians Scavengers – Moghalu
Kingsley Moghalu, a former Deputy Governor of the Central Bank of Nigeria, CBN, has condemned the federal government’s plan to borrow $1.5 billion from the World Bank.
Reacting, Moghalu on his X official page said Nigeria is becoming a carcass, “and our political class its scavengers.”
“There is a real problem when Nigeria is set to borrow another $1.5 billion from @WorldBank for budget support, and SUVs worth N160 million each are reportedly to be bought for 360 members of the House of Representatives. We are not yet serious as a country.
Reacting to Moghalu’s statement the National Coordinator of PETER OBI MANDATE GROUP and Executive Director NIGERIA 2.0 FREEDOM NOW Rev. Innocent Chukwudi Peace-Udochukwu said “That’s a pretty bold and provocative statement by Moghalu.
By referring to Nigeria as a “carcass” and its political class as “scavengers,” he is implying that the country is being picked apart by corrupt politicians who are only concerned with their own gain, rather than the well-being of the country as a whole. It’s definitely a concerning situation.
Continuing, Rev Peace state that It’s certainly interesting to hear about Kingsley Moghalu’s perspective on this issue.
“As a former deputy governor of the Central Bank of Nigeria, he has a unique insight into the country’s economic situation.
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, confirmed to journalists at the 2023 Annual Meetings of the World Bank and IMF that the Nigerian government is seeking a $20 billion loan.
Mr. Edun also stated that the government is committed to coordinating monetary and fiscal policies and will not breach the Ways and Means limits.
“The World Bank is a key source of funding for developing countries, providing support for projects, programs, and sectors. Through the International Development Association (IDA), it offers low-interest loans and grants to the world’s poorest countries.
“On the talks with the World Bank on $1.5 billion budget support, that is correct.”