{"id":97749,"date":"2023-10-16T10:58:34","date_gmt":"2023-10-16T09:58:34","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/nigeria-becoming-a-carcass-moghalu-kicks-as-fg-seeks-loan-from-world-bank"},"modified":"2023-10-16T13:36:57","modified_gmt":"2023-10-16T12:36:57","slug":"nigeria-becoming-a-carcass-moghalu-kicks-as-fg-seeks-loan-from-world-bank","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/nigeria-becoming-a-carcass-moghalu-kicks-as-fg-seeks-loan-from-world-bank","title":{"rendered":"Nigeria becoming a carcass \u2013 Moghalu kicks as FG seeks loan from World Bank"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>Kingsley Moghalu, a former Deputy Governor of the Central Bank of Nigeria, CBN, has kicked against the federal government\u2019s plan to borrow $1.5 billion from the World Bank.<\/p>\n

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, while speaking with journalists at the 2023 Annual Meetings of the World Bank and the International Monetary Fund (IMF) in Marrakech, Morocco, confirmed the loan.<\/p>\n

Edun, who promised that there would be a coordination of monetary and fiscal policies, pledged that President Bola Tinubu\u2019s administration will not breach Ways and Means limits.<\/p>\n

\u201cOn the talks with the World Bank on $1.5 billion budget support, that is correct.<\/p>\n

\u201cThe World Bank is the number one multilateral development bank helping developing countries or funding developing countries, projects and programmes, and sectors.<\/p>\n

\u201cIt has free money through either International Development Association (IDA).<\/p>\n

\u201cIt is for the poorer countries and right now I think we qualify as one of the countries that can borrow in the normal window of World Bank funding but also some concessionary IDA funding and that means that effectively the interest rate will be zero,\u201d Edun stated.<\/p>\n

Reacting, Moghalu on his X official page said Nigeria is becoming a carcass, \u201cand our political class its scavengers.\u201d<\/p>\n

\u201cThere 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.<\/p>\n

\u201cNigeria is becoming a carcass, and our political class its scavengers,\u201d he wrote.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Kingsley Moghalu, a former Deputy Governor of the Central Bank of Nigeria, CBN, has kicked against the federal government\u2019s plan to borrow $1.5 billion from the World Bank. The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, while speaking with journalists at the 2023 Annual Meetings of the […]<\/p>\n","protected":false},"author":84,"featured_media":97748,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1570,2140,701,2948,254,580],"class_list":["post-97749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-nigeria-2","tag-fg","tag-moghalu","tag-nigeria","tag-world-bank"],"yoast_head":"\nNigeria becoming a carcass \u2013 Moghalu kicks as FG seeks loan from World Bank - Nigeria<\/title>\n<meta name=\"description\" content=\"Kingsley Moghalu, a former Deputy Governor of the Central Bank of Nigeria, CBN, has kicked against the federal governmen ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigeria-becoming-a-carcass-moghalu-kicks-as-fg-seeks-loan-from-world-bank\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria becoming a carcass \u2013 Moghalu kicks as FG seeks loan from World Bank\" \/>\n<meta property=\"og:description\" content=\"Kingsley Moghalu, a former Deputy Governor of the Central Bank of Nigeria, CBN, has kicked against the federal governmen ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigeria-becoming-a-carcass-moghalu-kicks-as-fg-seeks-loan-from-world-bank\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-16T09:58:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-16T12:36:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/10\/sm_1697443526.535606.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigeria-becoming-a-carcass-moghalu-kicks-as-fg-seeks-loan-from-world-bank#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigeria-becoming-a-carcass-moghalu-kicks-as-fg-seeks-loan-from-world-bank\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Nigeria becoming a carcass \u2013 Moghalu kicks as FG seeks loan from World Bank\",\"datePublished\":\"2023-10-16T09:58:34+00:00\",\"dateModified\":\"2023-10-16T12:36:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigeria-becoming-a-carcass-moghalu-kicks-as-fg-seeks-loan-from-world-bank\"},\"wordCount\":288,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigeria-becoming-a-carcass-moghalu-kicks-as-fg-seeks-loan-from-world-bank#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/10\/sm_1697443526.535606.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"FG\",\"Moghalu\",\"Nigeria\",\"world bank\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigeria-becoming-a-carcass-moghalu-kicks-as-fg-seeks-loan-from-world-bank#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigeria-becoming-a-carcass-moghalu-kicks-as-fg-seeks-loan-from-world-bank\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nigeria-becoming-a-carcass-moghalu-kicks-as-fg-seeks-loan-from-world-bank\",\"name\":\"Nigeria becoming a carcass \u2013 Moghalu kicks as FG seeks loan from World Bank - 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