‘Corruption Is Threat To Nigeria’ – Moghalu

The former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has warned that corruption is a threat to the existence of Nigeria.

Issuing this warning in a tweet on Tuesday, the former apex bank chief said that corruption was a major reason many Nigerians are desperately poor.

He called for the need to fight corruption structurally, consistently, and sustainably.

“Corruption is an existential threat to Nigeria. It’s a major reason too many millions remain desperately poor, and why investment in the country is declining because the business environment is hostile. It must be fought structurally, consistently, and sustainably,” Moghalu wrote.

Naija News reports that his comment comes amid the corruption allegation levelled against the embattled humanitarian affairs minister, Beta Edu.

President Bola Tinubu had earlier suspended the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, from office with immediate effect over a N585 million corruption allegation.

Recall that the minister came under heavy criticism on Friday after a memo surfaced where she directed the Accountant-General of the Federation, Oluwatoyin Madein, to transfer N585 million to a private account owned by one Oniyelu Bridget.

According to Ngelale, the suspension is in line with President Tinubu’s avowed commitment to upholding the highest standards of integrity, transparency, and accountability in the management of the commonwealth of Nigerians.

Following the suspension, The Economic and Financial Crimes Commission (EFCC) invited the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, to its headquarters in Abuja over an alleged N585M scandal.

The anti-graft agency invited Edu to its headquarters following a presidential directive from President Bola Ahmed Tinubu ordering her suspension and investigation.