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Lai Mohammed Denies Asking Obi Cubana To Loan Nigeria Money

Lai Mohammed Denies Asking Obi Cubana To Loan Nigeria Money
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The Minister of Information and Culture, Lai Mohammed, has described as fake the report making rounds that he asked Cubana Group Chairman, Obi Iyiegbu aka Obi Cubana to loan money to Nigeria.

The Ministry of Information and Culture on its verified Facebook page on Sunday, July 18, 2021 placed a ‘Fake News’ stamp on a news item claiming that the minister made the statement. He insisted that the news report claiming that the minister made the statement was misleading and unfounded.

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Recall that the news which was published by an online medium read in part, “Obi Cubana has this kind of money and Nigeria is borrowing money from China. Cubana should borrow us money, Nigeria is collapsing- Lai Mohammed”.

Obi Cubana has been trending on social media for some days for hosting a lavish funeral for his mother in Oba, a town in Idemili South Local Government area of Anambra State.

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Several videos emanating from the event show people spraying money indiscriminately while a concert was held after the burial and was attended by musicians Davido, D’Banj, Phyno among others.

The social media has been washed with the trending lavish funeral organised by Obi Cubana for his mother in Oba Anambra State.

 

 

The unprecedented naira rain at the funeral left many mouths wagging and wondering why Federal government would not approach Cubana for loan rather than going offshore with higher interest and burden.

It will be recalled that the upper legislative chamber against all the oppositions Thursday approved Buhari’s latest request for external loans to the tune of $8.3bn and €490m under the 2018-2020 External Borrowing (Rolling) Plan.

This brought Nigeria’s debt to N32.92tn from N12trn in 2015 when President Muhammadu Buhari assumed office.

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