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Fake News! FG Denies Asking Obi Cubana For Loan

The Minister of Information and Culture, Lai Mohammed, has denied asking 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 the statement.

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”.

Obi Cubana has been in the news for the last four days for hosting an extravagant funeral for his mother in Oba, a town in Idemili South local government area of Anambra State.

Obi Cubana and his guests were spotted spraying money indiscriminately while a concert was held after the burial and was attended by musicians Davido, D’Banj, Phyno among others.

The development has led to speculations that the Minister was lobbying for loan from Obi Cubana instead of China.

The news is coming days after the Senate approved Buhari’s request for ongoing external loans to the tune of $8.3bn and €490m under the 2018-2020 External Borrowing (Rolling) Plan.

Photo Credit: Getty

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