"If Nigeria gets to the parapet of a failed fourth republic, the tale of 11 trillion naira would be on the front page of that handbook: a handbook chronicling the opportunities lost, disappointments and crush of dreams in nation-building," writes the usually tepid Guardian newspaper, infuriated at the revelation that over 11 trillion naira had been spent by the Obasanjo administration since it came to power.
The Central Bank of Nigeria has identified General Ibrahim Babangida's myopic and corrupt policies for the weak financial position Nigeria now finds itself in. It's top official asserts if it was not for Babangida, Nigeria's financial structures would have been stronger.
Nigerian President Olusegun Obasanjo is facing growing pressure on two fronts as militants in the oil-producing south killed two people in a car bomb attack and thousands of opposition supporters rallied against him in the capital, Abuja.
