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Whoever borrows for consumption is a compound fool – Former Dep. CBN Gov

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The former deputy Governor of Central Bank of Nigeria (CBN), Obodia Malafia, has reacted over increasing Nigeria debt following recent demand by President Mohammadu Buhari to borrow more money.

Reacting during Politics Today programme on Channels Television, Malafia who spoke through video conference expressed bitterly over the president’s request to borrow more $30 billion.

He said whoever that borrows to fund consumption is compound fool argued that it is wrong to keep borrowing without seeing the result.

He advised the federal government to account the positive use of the already borrowed $80 billion before proceeding seeking Senate’s consent to borrow more, adding that thou he does not condemn borrowing to fund basic infrastructures.

[VIDEO] Whoever borrows for consumption is a compound fool, we need to see the past records of previous 80 Billion Dollars borrowed – #Mailafia Former Deputy Gov. #CBN

Опубликовано Nija Eye Четверг, 28 ноября 2019 г.

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