Ex CBN Deputy Gov, Moghalu Reacts To NYT’s Report That Nigeria Is Facing It’s Worst Economic Crisis

The Former Deputy Governor of the Central Bank of Nigeria, CBN, Professor Kingsley Moghalu, has reacted to New York Time’s recent report, claiming that Nigeria is currently facing its worst economic crisis in a generation.

While reacting, Professor Moghalu made it known that it is clear that the recent article on the Nigerian economy in the New York Time, has riled the Nigerian Government. He went on and made it known that it pains him as a Nigerian, to see the reality of the country’s current economic conditions portrayed so ‘harrowingly’ in a major global media.

Furthermore, he noted that the report is a depiction of the reality of millions of Nigerians today. Professor Moghalu went on and noted that the country’s economy started experiencing challenges by the mid to the late 2014, noting that it was as a result of incompetent economic management.

Prof Moghalu made this disclosure in a post he made on his official X handle on Tuesday morning, while reacting to the report. He went on and stated it clearly that he doesn’t subscribe to the theory that our economic problems are the result of foreign machinations.

Furthermore, the former CBN Deputy Governor made it known that there is a need for the country to have competent economic management, in order to manage the economy of the country properly.……See More

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