Moghalu blasts Nigerian leadership, labels govt as ‘grand fraud’
Former presidential candidate, Kingsley Moghalu, has taken a hard swipe at Nigerian leadership, alleging that the country is broke because its leadership is a “grand fraud”.
The former deputy governor of Central Bank of Nigeria (CBN) was reacting to recent publication by the National Bureau of Statistics (NBS), which revealed that at least 82.9 million Nigerians are living in poverty, with earlier data from the World Poverty Clock pegging the estimate at above 90 million.
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The former presidential candidate, who aired his view via his official twitter handle said that the problem with Nigeria’s dwindling economy is not human resource, but weak and ineffective institutions.
“90 million Nigerians live in extreme poverty and the country is essentially bankrupt not because we don’t have brilliant economists, but because our politics and leadership are a grand fraud. Prosperity requires nationhood, first, followed by strong, effective institutions.
“Without strong political institutions, we can’t have strong economic institutions that can set up an equal opportunity for wealth creation. If we don’t restructure a big, diverse country constitutionally back to real federalism, Nigeria can neither be stable nor prosper” Moghalu said in a series of tweets.
