Nigeria lacks accountability, transparency, and responsibility to refund its loans, according to Dr Bongo Adi, the Director of Centre for Infrastructure Policy Regulation and Advancement (CIPRA) at the Lagos Business School.
While Nigeria’s debt profile hits a new high of N24.9 trillion in March 2019, state governors have parted with the sum of N33.9 billion referred to as external debt deductions in just one year.
Earlier this week while delivering a speech during the 3rd National Treasury Workshop organised by the Office of the Accountant General of the Federation, former CBN Governor, Sanusi Lamido, declared that Nigeria is "bankrupt and the country is heading to bankruptcy".
