Kingsley Moghalu, a former Deputy Governor of the Central Bank of Nigeria, CBN, has condemned the federal government’s plan to obtain $1.5 billion loan from the World Bank.

Recall that Wale Edun, the Minister of Finance and Coordinating Minister of Economy, recently revealed that the country would soon receive a $1.5 billion loan from the World Bank.

According to the Minister, the loan’s objective is “to strengthen systems for improved delivery of basic education and primary health services in participating states.”

While reacting on his X official handle, Moghalu said Nigeria is becoming a carcass, and our political class is 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.”

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