Kingsley Moghalu, a renowned former Deputy Governor of the Central Bank of Nigeria (CBN), has vehemently opposed the federal government’s plan to borrow $1.5 billion from the World Bank.
According to reports, the Nigerian government is currently in discussions with the World Bank to secure this new loan.
The loan’s stated purpose is to enhance the effectiveness of basic education and primary healthcare delivery systems in participating states.
In response, Moghalu took to his official social media page to express his concern over the state of affairs in Nigeria, asserting that the country is deteriorating rapidly while the political elite benefit.
“It is truly disconcerting when Nigeria is on the brink of borrowing an additional $1.5 billion from the World Bank for budget support, while reports circulate of plans to acquire SUVs worth N160 million each for the 360 members of the House of Representatives. It is evident that our country lacks seriousness in addressing its pressing issues,” Moghalu wrote.
In no uncertain terms, he stated, “Nigeria is becoming a carcass, and our political class its scavengers.”
