A former Deputy Governor of the Central Bank of Nigeria,
CBN, Kingsley Moghalu has said that he would be scared to invest in the country
as a foreign investor.
Moghalu disclosed this on Thursday in a statement via his
verified Twitter handle.
His statement is coming on the heels of a slump in the Foreign
Direct Investment (FDI) into the country, which according him “is down to the
lowest levels in nine years”.
Moghalu lamented that the country had so much potential but
was “mismanaged economically.”
He wrote, “It is not surprising that Foreign Direct
Investment (FDI) into Nigeria is down to the lowest levels in 9 years. If I was
a foreign investor I would be very scared to invest in a country with so much
potential but which has been so mismanaged economically.”
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