Kingsley Moghalu, a former African Democratic Congress presidential candidate, has identified three reasons why 100 million Nigerians live in poverty.
According to Moghalu, who shared this on his Twitter page, most Nigerians are impoverished due to fraud, corruption, and outright criminality.
According to him, government institutions are responsible for the major sources of crime in the petroleum industry and the forex market.
Fraud, corruption and sheer criminality is the biggest reason why 100 million Nigerians live in poverty.
The biggest sources of these crimes lie in the petroleum industry and the forex market, both managed by government institutions, he wrote.
Fraud, corruption and sheer criminality is the biggest reason why 100 million Nigerians live in poverty. The biggest sources of these crimes lie in the petroleum industry and the forex market, both managed by government institutions.
— Kingsley Moghalu OON (@MoghaluKingsley) October 25, 2022
Kingsley Moghalu, a former African Democratic Party (ADC) presidential candidate, resigned after failing to secure the party’s presidential nomination in the 2023 presidential primaries.
In a letter posted on his official Twitter account at the time of his resignation, the former Deputy Governor of the Central Bank cited a fundamental clash of values with ADC leaders as the reason for leaving the party.
On June 8, Moghalu was defeated in the primaries by Dumebi Kachikwu.
In the party’s primary election in Abeokuta, Ogun State, Kachikwu received 977 votes.
Mogalu, the Young Progressives Party’s (YPP) presidential candidate in the 2019 elections, received only 589 votes.
