The Minister of Information and Culture, Lai Mohammed, has refuted media reports 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 placed a ‘Fake News’ stamp on a news item claiming that the minister made such a request.
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”.
Nigeria’s debt has risen by N20.8tn to N32.92tn since President Muhammadu Buhari assumed office in 2015.
The Nigerian Senate also recently approved Buhari’s request for ongoing external loans to the tune of $8.3bn and €490m under the 2018-2020 External Borrowing (Rolling) Plan.
Obi Cubana had recently held a lavish burial ceremony for his deceased money in Oba, a town in Idemili South local government area of Anambra State.