A former Deputy Governor of the Central Bank of Nigeria , Kingsley Moghalu, has expressed his disapproval of the federal government’s intention to secure a $1.5 billion loan from the World Bank.
Reports have indicated that the Federal Government is in discussions with the World Bank to secure this additional loan.
The loan’s purpose is to enhance the capacity of systems for the more effective delivery of basic education and primary health services in participating states.
Moghalu voiced his concerns on his official social media page, criticizing the country’s direction.
He stated, “There is a real problem when Nigeria is set to borrow another $1.5 billion from the @WorldBank for budget support, and SUVs worth N160 million each are reportedly to be purchased for 360 members of the House of Representatives. We are not yet serious as a country.”
He expressed his belief that Nigeria is on the path to becoming a carcass, and that the political class is acting as scavengers, suggesting that these actions do not reflect a serious approach to governance and financial responsibility.
