Kingsley Moghalu, a former Deputy Governor of the Central Bank of Nigeria, CBN, has kicked against the federal government’s plan to borrow $1.5 billion from the World Bank.

Report indicates that the Federal Government was engaging the World Bank on a fresh $1.5bn loan.

It was revealed that the objective of the loan was to strengthen systems for improved delivery of basic education and primary health services in participating states.

In his reaction, 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 reportedly to be bought for 360 members of the House of Representatives. We are not yet serious as a country.

Nigeria is becoming a carcass, and our political class its scavengers, he wrote.

(CDA NEWS)
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