The Former Deputy Governor of the Central Bank of Nigeria, CBN, Prof Kingsley Moghalu, has said that Nigeria is currently facing its worst economic crisis in a generation.
Moghalu was reacting to a recent report by the New York Times, which earlier made the claim.
“It is clear that the recent article on the Nigerian economy in the New York Time, has riled the Nigerian government.
“It pains me as a Nigerian, to see the reality of the country’s current economic conditions portrayed so ‘harrowingly’ in a major global media.
“The report is a depiction of the reality of millions of Nigerians today.
“The country’s economy started experiencing challenges by the mid to the late 2014, which was as a result of incompetent economic management.
“I don’t subscribe to the theory that our economic problems are the result of foreign machinations.
“There is therefore a need for the country to have competent economic management, in order to manage the economy of the country properly,” Prof. Moghalu posted on his official X handle.
