Nigeria is becoming a carcass – Moghalu kicks as FG seeks loan from World Bank

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.

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

The objective of the loan is to strengthen systems for improved delivery of basic education and primary health services in participating states.

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.

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