Kingsley Moghalu, a former Deputy Governor of the Central Bank of Nigeria, has strongly opposed the Federal Government’s plan to borrow $1.5 billion from the World Bank.
The loan is intended to strengthen systems for improved delivery of basic education and primary health services in participating states.
Moghalu, sharing his thoughts on his official platform, criticised the move and highlighted the contrast between the loan intended for essential services and the reported plan to purchase expensive SUVs for members of the House of Representatives.
He emphasised the urgent need for Nigeria to address its governance and financial management challenges, urging a more serious and responsible approach to national affairs.
“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,” He wrote.
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