Lai Mohammed Speaks on asking Obi Cubana to loan Nigeria money


The Minister of Information and Culture, Lai Mohammed, has denied that he approached the Chairman of the Cubana Group, Obi Iyiegbu alias Obi Cubana, for a financial loan to Nigeria.


According to the Ministry of Information and Culture’s official Facebook page, an article alleging that the minister made the statement was marked with a ‘Fake News’ stamp, which was removed the next day.

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“Obi Cubana has this type of money, and Nigeria is borrowing money from China,” according to the news report published by an internet publication. Cuba should provide us money since Nigeria is on the verge of collapse – Lai Mohammed”.


Following an extravagant funeral for his mother in Oba, a community in the Idemili South local government area of Anambra State that has been trending on social media for the last four days, Obi Cubana has been making headlines.

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Several films originating from the occasion show individuals spraying money in random directions, while a concert following the burial was attended by singers like as Davido, D’Banj, and Phyno, among others.


Several memes have been created in response to the “naira rain” that occurred at the occasion, urging Nigeria to borrow money from Obi Cubana instead of China.

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Since then, the country’s debt has increased by N20.8 trillion to N32.92 trillion, according to the President, Major General Muhammadu Buhari (retired).


The Senate on Thursday accepted President Muhammadu Buhari’s proposal for continuous foreign loans in the amount of $8.3 billion and €490 million under the 2018-2020 External Borrowing (Rolling) Plan, according to a press release.

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