Lai Mohammed speaks on asking Obi Cubana to loan Nigeria money

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 trending on social media for the last four days for hosting a lavish funeral for his mother in Oba, a town in Idemili South local government area of Anambra State.


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Several videos emanating from the event show people spraying money indiscriminately while a concert was held after the burial and was attended by musicians Davido, D’Banj, and Phyno, among others.

The ‘naira rain’ at the event has led to several memes asking Nigeria to borrow money from Obi Cubana instead of China.

The country’s debt has risen by N20.8tn to N32.92tn since the President, Major General Muhammadu Buhari (retd.), took over.



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

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