Fed Govt denies seeking loans from Obi Cubana

The Federal Minister of Information and Culture has rubbished the report which claimed that Lai Mohammed asked Cubana Group Chairman, Obi Iyiegbu aka Obi Cubana, to loan money to Nigeria.

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”.

However, the Ministry of Information and Culture on its verified Facebook page on Sunday placed a ‘Fake News’ stamp on the report.

Obi Cubana has been trending on social media for the last four days for hosting a lavish funeral for his mother.

The funeral, in Oba, a town in Idemili South local government area of Anambra State, was attended by businessmen, politicians, musicians, and actors.

The “naira rain” at the event has generated loads of taking points with several memes asking Nigeria to borrow money from Obi Cubana instead of China.

The Senate, 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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