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

In response to a recent story by the New York Times, Professor Kingsley Moghalu, the former deputy governor of the Central Bank of Nigeria (CBN), asserted that Nigeria was experiencing its worst economic crisis in a generation at the moment. Professor Moghalu responded by stating that it is evident that the recent New York Times piece about Nigeria’s economy has infuriated the Nigerian government. He continued and expressed how painful it is for him to be a Nigerian to witness the truth of the nation’s current economic circumstances presented in such a “harrowing” way in a prominent international media outlet.CONTINUE FULL READING>>>>>

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.CONTINUE FULL READING>>>>>