A former Deputy Governor of the Central Bank of Nigeria, CBN, Kingsley Moghalu has said that he would be scared to invest in the country as a foreign investor.

Moghalu disclosed this on Thursday in a statement via his verified Twitter handle.

His statement is coming on the heels of a slump in the Foreign Direct Investment (FDI) into the country, which according him “is down to the lowest levels in nine years”.

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Moghalu lamented that the country had so much potential but was “mismanaged economically.”

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He wrote, “It is not surprising that Foreign Direct Investment (FDI) into Nigeria is down to the lowest levels in 9 years. If I was a foreign investor I would be very scared to invest in a country with so much potential but which has been so mismanaged economically.”