I would be scared to invest in Nigeria as foreign investor – Kingsley Moghalu

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.”