Former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has spoken out against the federal government’s intention to borrow $1.5 billion from the World Bank.
The Federal Government was said to be negotiating a new $1.5 billion loan with the World Bank.
The loan’s goal is to help participating states upgrade their systems for better delivery of basic education and primary health care.
In response, Moghalu stated on his X official page that 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.
“Nigeria is becoming a carcass, and our political class its scavengers,” he wrote.