Moghalu says Nigeria's elites want your cash after blowing theirs

Former Central Bank of Nigeria Deputy Governor Kingsley Moghalu condemned additional tax burdens on citizens while government officials engage in wasteful spending and corrupt practices. The financial expert questioned how authorities spent oil revenues and borrowed billions of dollars without proper documentation. Moghalu emphasized that transparency and accountability must come before any new taxation measures. He characterized Nigeria's political leadership as a privileged elite that avoids responsibility for its actions. The former governor acknowledged that tax reform moves in positive directions but stressed that corruption issues require resolution first.