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Nigeria Is Now Poverty Capital Of The World- Former Deputy Gov. Of Central Bank

A former deputy governor of Central Bank of Nigeria, CBN who is also vying for the post of presidency in the coming 2019 presidential election, Mr Kingsley Moghalu said on Wednesday that Nigeria has become the poverty capital of the world.

He said this while speaking at The Bullion Lecture 2018 which has as theme “The wealth of Nations and imperative of economic transformation”.

Kingsley who said overcoming poverty is the secret of wealthy nations, however, said that the secret of wealth and poverty lies in the mind.


The former deputy governor of CBN also used the opportunity to seek the support of Nigerians for his presidential ambition, promising to ensure Nigeria’s economy is innovation driven economy if he is elected.

Moghalu claimed that Nigerians do not have leaders that they only have politicians who are very good at playing the games that help them to corner power.

He concluded his session by saying that the secret of the wealth of a nation lies in their economic philosophies and their political economy.

He also said that the link between invention and commercialization is broken in Nigeria, noting that though the country has a policy for technology development, it does not have a policy for commercialization, promising to correct this if elected.

Speaking about the next election, he said that his team is determined, to create a unity by building on the strength of our dynamics and diversity and also he promised to build a nation anchored on justice, equity and the rule of law.