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.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigeria's Finance Minister Bags Historic World Bank AppointmentNigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has been appointed to chair the African Governors’ Forum of the World
Read more »
BREAKING: Nigeria’s Finance Minister, Wale Edun, gets World Bank AppointmentA Trusted Nigerian Newspaper
Read more »
Nigeria ranks 4th on World Bank’s borrowers’ list with $14.3billion debtA Trusted Nigerian Newspaper
Read more »
Nigeria’s economic reforms garner approval at World Bank, IMF meetingsThe Nation Newspaper Nigeria's economic reforms garner approval at World Bank, IMF meetings
Read more »
Newspaper Headlines: FG seeks fresh $400m World Bank loan for cash transfer to householdsNigeria's independent online newspaper
Read more »
JUST IN: Tinubu’s govt seeks fresh $1.5billion loan facility from World BankA Trusted Nigerian Newspaper
Read more »