Former deputy governor of the Central Bank of Nigeria, Prof Kingsley Moghalu, raised an alarm over the federal government’s plan to borrow $1.5 billion from the World Bank.

Moghalu said he would not allow any government official to drive imported cars if he were to be the president of the country.

The former CBN deputy governor’s comment is in response to reports that each of the 360 members of the House of Representatives will receive a brand-new 2023 LandCruiser SUVs worth N160 million.

Akin Rotimi, the Chairman, House Committee of Media and Public Affairs on Sunday said, “For the duration of the 10th Assembly, the vehicles shall remain the property of the National Assembly at the expiration of the tenure of the 10th Assembly in 2027, should the extant assets deboarding policy of government still be in place.”

However, Moghalu urged Nigerian politicians to learn how to invest and patronise local alternatives, instead of driving foreign-made vehicles.

The post on his X page read: “If I were President of Nigeria or Governor of a State, no government official will drive a foreign-made vehicle at government expense (procurement) when we have local alternatives.

“That is one demonstration of patriotic leadership and commitment to cutting the cost of governance,” he added.

Also reacting to Wale Edun, the Minister of Finance and Coordinating Minister of Economy, statement who said the country will soon receive a $1.5 billion loan from the World Bank.

Kingsley Moghalu, who was the presidential candidate of the Young Progressives Party (YPP) in the 2019 general election said: “There is a real problem when Nigeria is set to borrow another $1.5 billion from @WorldBank for budget support, and SUVs worth N160 million each are reportedly to be bought for 360 members of the House of Representatives. We are not yet serious as a country.

“Nigeria is becoming a carcass, and our political class its scavengers.”