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Moghalu invites journalists to world press conference, bemoans state of nation

By Barakat Akolade
17 March 2022   |   4:01 am
Former Deputy Governor of the Central Bank of Nigeria (CBN) and presidential aspirant under the African Democratic Congress (ADC) in 2023, Prof. Kingsley Moghalu, has said the Nigerian situation has deteriorated and needed urgent intervention.

Kingsley Moghalu

Former Deputy Governor of the Central Bank of Nigeria (CBN) and presidential aspirant under the African Democratic Congress (ADC) in 2023, Prof. Kingsley Moghalu, has said the Nigerian situation has deteriorated and needed urgent intervention.

In a statement issued by Spokesman of the, Moghalu4Nigeria Movement, Jide Akintunde, quoted Moghalu as saying that he invited media organisations and journalists to today’s world press conference in Abuja at 11:00a.m.

At the conference, Moghalu will address the leadership crisis threatening to break the country’s socio-economic order, which has been deteriorating due to bad governance at a time of global geopolitical tension and economic instability.

The issues to be addressed include the rising inflation in Nigeria and its impact on the welfare of citizens, insecurity, shrinking governed space, unemployment and compromised education system, currently highlighted by the resumption of strike by the Academic Staff Union of Universities (ASUU).

On the international front, he argued that Russia’s invasion of Ukraine will cause geopolitical risk of a mammoth proportion, adding that beyond its impact on domestic energy price through higher landing cost of petrol, the war could destabilise global markets and peace.

He also said the world press conference will address critical issues of the 2023 general elections in Nigeria, adding that Moghalu’s candidacy in the election will point Nigeria towards alternative leadership profile and possibility.

Moghalu, who was presidential aspirant in 2023 and former UN diplomat, served as Deputy Governor of the Central Bank of Nigeria (CBN) between 2009 and 2014.

His performance includes his leadership role as lead of the Financial System Stability (FSS) directorate in the CBN’s reform of the Nigerian banking system following the global financial crisis.

The intervention and reform ensured that no Nigerian bank failed, no depositor lost their savings and the introduction of the Bank Verification Number (BVN), which has made the banking system safer and serves as a catalyst for the growth of fintech in the financial market.