Soludo replies Okonjo-Iweala, accuses her of forging national economics statistics

Minister of Finance, Ngozi Okonjo-Iweala
Minister of Finance, Ngozi Okonjo-Iweala

A former Central Bank Governor, Charles Soludo, has reacted to the criticism of his earlier article by the Minister of Finance, Ngozi Okonjo-Iweala.

In a lengthy, over 6000 words article, Mr. Soludo on Sunday rejected claims by Mrs. Okonjo-Iweala that he performed poorly as governor of the Central Bank. He said his performance as CBN governor was unprecedented locally as well as globally acknowledged.

“In Nigeria’s history, no governor of the Central Bank has delivered 24 consecutive months of single digit inflation as I did until the advent of the unprecedented global crisis in 2008,” he said.

Mr. Soludo then challenged claims by Mrs. Okonjo-Iweala, who is also the Coordinating Minister of the Economy, that the Nigerian economy is doing well.

He accused Mrs. Okonjo-Iweala of running the country’s economy aground.

“You are brilliant Madam, but you need serious help,” he said while reeling our data to show the porous state of the Nigerian economy. “Having spent all your life in the World Bank bureaucracy largely in administration/operations, no one will blame you if your economics has become a bit rusty. There are firebrand Nigerians all over the world to draft to service. It is certainly embarrassing to Nigeria for you to be bothering World Bank economists to help you with most basic economic analysis.”

He also accused her of forging Nigeria’s national economics statistics.

Mr. Soludo said, “What worries me is that this government is the first in our history to attempt to manipulate our national statistics under Okonjo-Iweala. When NBS published the poverty figures in 2011, she felt indicted and incensed. She called upon the World Bank to come and examine the ‘methodology’ and get NBS to ‘review’ its numbers. Oby Ezekwesili (as VP Africa Region rejected the call to try to tamper with a country’s statistics). Once Oby left, the ‘World Bank’ started talking about ‘new figures’, without conducting any new surveys.

“I was told about it by a World Bank economist, and I cautioned that it was a dangerous gamble that would damage the credibility of the NBS. If you want to ‘review methodology’, you conduct another survey but you can’t change ‘methodology’ because you don’t like the published figures. No government in our history has tried it: even Sani Abacha allowed a poverty survey that put poverty at 67% under his regime. At this rate, who will believe statistics coming from the Nigerian government again? Is it now the World Bank that sits in Washington and allocates poverty numbers to Nigeria? Something smells here!”

Read Mr. Soludo’s full article  below.

Ngozi Okonjo-Iweala and the Missing Trillions (1) Chukwuma Charles Soludo

I read some of the responses to my article, “Buhari vs Jonathan: Beyond the Election”, and I want to thank everyone who has contributed to the debate. I am glad that the debate has finally taken off. I have decided, for the record, to re-enter the debate if only to set some records straight and hopefully elevate the debate further.  Whom do I respond to? First, let me thank Gov Kayode Fayemi for his very mature and professional response on behalf of the APC. It forms a great basis for deepening the conversation. Pat Utomi, Oby Ezekwesili, Iyabo Obasanjo, and thousands of other patriotic Nigerians have raised the content of the debate. Femi Fani-Kayode made me laugh, as usual. The Gov. Jang faction of the Governors’ Forum played the usual politics, although I know what most of them think privately. Who else? Oh, Peter Obi. Well, since he can’t write and designated Valentine as usual to write for him (who never disputed the NBS statistics that Obi broke world record in the pauperization of Anambra people but instead focused on lies and abuses) I won’t dignify him with a response here. His third class performance in Anambra will be the subject of a comprehensive article later.

Here, I will focus on Dr. Ngozi Okonjo-Iweala’s response (as Minister of Finance and Coordinating Minister of the Economy—CME and hence on behalf of the Federal Government). Since I have known her, out of deep respect, I have never called her by her name: I call her Madam. I must state that I have great pains seeing myself on the opposite side of the table with Madam, in this way. I respect you, Madam, and will always do.  If you read my article of September 2010 (before you became Minister), the tone and elucidation were as strong as the current one. It is my honest effort to ensure that our choice of leaders is based on rigorous scrutiny of what is on offer.  Part of my frustration is that five years after, everything I warned about has come to happen and we are conducting our campaigns as if we are not in crisis. As a concerned Nigerian, I have a duty to speak out again. Regrettably, you have taken it very personal.

I am not bothered about the personal abuses: I actually expected worse. What name has the government not called President Obasanjo or any person who has dared to disagree with it of late? Anyone who disagrees with the government must either be ‘insane’ or have a ‘character’ deficiency or must be ‘looking for a job’ or ‘without honour’, or a ‘charlatan’. Yesterday, Sanusi alleged that $20 billion was missing and he was accused of gross financial mismanagement, recklessness and poor governance to the point of being the first governor of central bank to be suspended from office. Today, he is the good one; and for daring to award an “F” grade for our economic performance, Soludo has become the ‘worst’ and ‘without character’ or perhaps ‘looking for position’ (Lol!). Some days ago, a former president was called ‘a motor park tout’ and ‘un-statesmanly’ just for disagreeing.  This “how dare you criticise us” mind-set of the government is dangerous for our democracy.

In this Part One of my planned three part series, I will restrict it to the main issues you raised. I will not bother about the malicious attacks on my person. For me, it is nothing personal. In early 2011, I had a similar heated exchange with then Finance Minister Segun Aganga. But when the Nigerian economy was at stake and he invited me to a stakeholders meeting in his office (as Minister of Trade and Investment) to discuss Nigeria’s response to the ruinous EU- Economic Partnership for Africa (EPA), I flew into Nigeria for that (at my expense)— the first and only time I have been to any government office to discuss policy since I left office. It is about Nigeria. I will, as expected, remind people like you of the salient aspects of my record of public service in response to your charge; challenge your claim to debt relief, and your reason for not saving; highlight your forgery of economic statistics and the lies in your response; but most importantly re-focus our attention to the historic mismanagement of our economy which you carefully avoided. I will show that while you are introducing austerity measures and soon to immiserate the citizens, our public finance is haemorrhaging to the point that estimated over N30 trillion is missing or stolen or unaccounted for, or simply mismanaged— under your watch! We can’t go on like this, and I am convinced that an alternative future is possible. Can we have a public debate on this alternative future? The issues at stake are too grave to be trivialized through name calling. As I write, the naira exchange rate to the dollar is at N215 (from N158 a few months ago) and unless oil price recovers, this is just the beginning.  For the sake of Nigeria, I won’t keep quiet anymore!

Let me start with Madam’s rather comical, wild judgment on my tenure of office which I believe to be totally false and baseless. I apologise upfront that in the process of making a ‘personal defence’, it is difficult to avoid a rather uncomfortable emphasis on “I”. I did not want that but since Madam has dragged us this low, I have little choice but to do so in the next few paragraphs—just to keep the record straight!

In my view, there are three criteria for evaluating a public officer’s stewardship: the evaluation by his employer; the satisfaction of the public he served; and the hard facts of performance. As I will show on these three counts, I am convinced that I left a world record of public service, and a thousand Okonjo-Iwealas cannot re-write that history. I served Nigeria under two presidents (Obasanjo and Yar’Adua) and as my immediate bosses, below are their written testimonials of my record.

Said President Obasanjo (December 2004):

“Charles Soludo is a true Nigerian. He is the sort of Nigerian that we all know we can rely on. Among his numerous virtues is COURAGE. I have found in him a man who can take tough and realistic decisions, stand his ground, educate others on the salience of his decision, and work very hard to ensure that the decision is efficiently and effectively implemented. His dedication to duty is first rate. His leadership qualities are admirable and his willingness to listen and learn is simply infectious. Professor Soludo has within a short time emerged as one of the leading lights of our nation. Not because he has a godfather but by sheer hard work, loyalty, dedication to duty, commitment to the nation, creativity, and undiluted association with the reform agenda….”

President Yar’Adua (May 2009) had the following to say about the Central Bank of Nigeria under my leadership:

“… the CBN has performed creditably well in delivering on its core mandates. This is especially even more so in the last five years. Most people would agree that without the successful banking consolidation and effective management of our foreign reserves, the current global crisis would have shaken the financial system and our national economy to their foundations with calamitous consequences”.

In the President’s special letter of commendation after the completion of my tenure of office, President Yar’Adua (June 2009) had the following to say to me:

“As your tenure as Governor of the Central Bank of Nigeria comes to a glorious end, I write on behalf of the Government and people of Nigeria to place on record our debt of gratitude to you for your dedicated service and uncommon sense of duty over the past five years. I am confident that your worthy antecedents in the CBN and in prior appointments in the service of our nation remain sources of inspiration to an entire generation. As I wish you even more astounding successes in the years ahead, it is my fervent hope that you will readily avail us of your distinguished service when the need arises in the future”.

To the best of my knowledge, President Obasanjo has not changed those views even after ten years. The views of my two bosses, not the emotional outburst of an angry person desperate to get even, are what count.

How did Nigerians evaluate my public service? Unfortunately, we do not have scientific opinion polls on job approval ratings for individual public officers. But if the public opinions of individuals and organized groups (labour, employers, depositors, borrowers, stakeholders of the financial institutions, newspaper editorials, investors, etc) as expressed in thousands of newspaper/magazine clips during and after my tenure are anything to go by, then 82% of the public largely agree with the sentiments expressed by my two bosses. Your views belong to the other 18% which is okay, after all, no one is perfect. Five Nigerian newspapers and magazines simultaneously named us “man of the year” in one year— unprecedented in Nigeria’s history. I do not talk about hundreds of awards and recognitions by various segments of our society (during and even after service) for “excellent public service”. I was particularly touched by the historic award by the staff union of the Central Bank and the tears in the eyes of many as thousands of the staff gave me a standing ovation as I walked the aisle after my brief farewell speech.

Certainly, the international community (investors, bankers, scholars, donors, media, etc) took serious notice of the revolution in Nigeria’s monetary and financial system. I am recipient of five international awards as global and African central bank governor of the year, not to mention dozens of other recognitions (even after leaving office). The London Financial Times described us as “a great reformer”. Even as the global economic and financial crisis raged in 2008, the United Nations General Assembly appointed me to serve on the Commission of Experts to reform the international monetary and financial system. You don’t appoint someone who has ‘mismanaged’ his national financial system to reform the global system. For 8 years until 2012, I served on the chief economist advisory council (CEAC) of the World Bank, and together with two Nobel Prize winners in economics and other experts we met periodically and advised two presidents and two chief economists of the World Bank, and in 2011, I served on the External Advisory Group of the IMF.  Again, these are not positions for ‘mis-managers’. Since I left office, I have been advising countries and central banks; and there is hardly any two months I don’t consult/advise on banking/financial and monetary policy. I have given these illustrations to make the point that for every one Okonjo-Iweala’s attempt to rewrite history, there are thousands who disagree.

Now, to some skeletal facts of our stewardship! I will be brief as I have a whole book to tell my story. As chief economic adviser, I had advised that our banking system could not support the private sector-led economy envisioned under NEEDS. When I assumed office at CBN, I inherited 89 rickety, mostly family banks (all of which put together were not up to the size of number four bank in South Africa). Many were insolvent, with depositors’ money trapped, and 20 more about to collapse. To get a credit of $300 million probably required all the banks to syndicate it. For me, there was a national emergency. I drafted a 13-point reform agenda, discussed and agreed all the specifics with the President, and his VP; as well as my management team at the CBN, and we swung into action. President Obasanjo promised 100% support and actually delivered 1000%— which was decisive. I apologize to you Madam because I did not brief or inform you about it. We just wanted to keep it confidential given the sensitivity of the announcement. It is on record that you never supported it.

It was both a revolution and a war and most people thought it was “impossible”, but thank God we succeeded. For the first time in Nigeria’s history a policy of that magnitude was announced and deadline kept with precision.  We were courageous to revoke the licenses of 14 banks, including those of my friends, in one day. The FT-Banker concluded that the scale, precision, and cost of the transformation were unprecedented in the world. Before then, Malaysia had the least cost of banking consolidation at 5% of Malaysian GDP. It did not cost Nigerian taxpayers one penny. Twenty-five new, stronger banks emerged but the powerful idea behind consolidation ignited something even more powerful—‘the race to the top’. Banks raised more capital, and even banks like First Bank, Zenith, GTB, etc that did not merge with others went on capital raising several times. The consequence was higher levels of capitalization and within two years, 14 Nigerian banks were in the top 1000 banks in the world and two in the top 300 (no Nigerian bank was in the top 1000 before I came). Even after I left office, still 9 banks were in the top 1000. Our vision was to have a Nigerian bank in the top 100 banks within 10 years. As I see the new Access bank; Zenith, GTB, Fidelity, Diamond, UBA, FBN, FCMB, Skye, Stanbic IBTC, Union, Ecobank, etc, I cannot but feel that we have taken giant steps forward.

Deposits and credit soared (from barely N1.2 trillion to over N7 trillion); new technologies (ATM and e-banking) boomed, and banks had 57,000 new jobs; mega businesses emerged (ask any major operator in the Nigerian economy their experience with banking and credit before and after Soludo —the Dangotes, Arik, MM2, oil and gas operators; etc); capital market boomed and dominated by the banking sector. It was a new dawn for Nigerian private sector. I have heard Dangote twice say that he would not be near as big as he is today without the banking consolidation. Many other stakeholders still say it today. FDI and portfolio inflows flooded into Nigeria. The world celebrated, and one single transformative idea has changed the face of the private sector and economy forever.  Banks became Nigeria’s first transnational corporations with about 37 branches outside of Nigeria.

Nigeria survived the global crisis because of this, and it is the banking sector that has largely been powering the economic growth you claim (compare banks trillions of naira credit for investments in the productive sector with your government’s miserable expenditure on critical infrastructure and investment; much of your borrowing – bonds – is from the banks). Your privatization of power sector, several PPP projects on infrastructure, etc, are now possible because of the mega banks. Today, Nigerian banks syndicate multi-billion dollar loans— unthinkable before. Madam, if the consolidation was ‘mismanaged’, there would not have been any bank to start with in the aftermath of the global crisis— as President Yar’adua correctly pointed out. Even you, during a recent presentation at the Banquet Hall in Abuja advertised consolidation as a historic achievement. How can you recognize a ‘mis-managed’ project as an outstanding achievement? As we say in Igbo, you can’t cover the moon with your palms.

Let me be clear: the quantum size of the new banks following consolidation presented challenges of risk management and supervision. We deployed all we had and overworked the CBN staff. The carry-over of bad loans from the consolidated banks was quickly cleaned up. To the best of my knowledge, we instituted stringent regulatory and supervisory regime (consistent with best practices at the time). We even had resident examiners in the banks and required bank MDs to personally sign their reports to CBN. I recall that the former MD of GTB complained of “regulatory intrusiveness”. To our credit, non-performing loans (NPL) came down from 22% in 2003 and 2004 to 6% as at 2008. Anywhere in the world, a central bank that brought NPL from 22% to 6% over a four year period does not look like one with a loose supervisory regime. Name other developing countries that performed better, Madam. So, on point of fact, Madam lied. Yours was a reckless assertion without basis by a Finance Minister.

The banks in Nigeria were supervised by the CBN and NDIC, but other institutions— international firms which audited them, international rating agencies which also examined their books, capital market operators since most were listed companies — all had oversight. I put on record that there was never any information/report of infractions by any bank which was brought to my attention and which we did not act upon decisively during my tenure. I heard the comment that some of the bank MDs were my friends. Well, my response is that perhaps as CME you should kill all your friends operating in the economy or become their enemies. For the record, my successor audited all the banks and none of my so-called friends was indicted. It speaks volumes. Indeed, it is also a fact that the alleged personal criminal infractions (including lapses in corporate governance Madam alluded to) by some bank CEOs were found out, only AFTER they had been removed from office. My successor told me that the comprehensive audit of the banks did not reveal such infractions. Of course, you must be God or have a special tip-off from inside to get to such information while the MDs are in office. Unfortunately, all over the world, no financial system has succeeded in routing out all criminal behaviours by the operators. So, Madam, I challenge you to provide one shred of evidence that ‘there was no separation between regulators and regulated’ or be honourable enough to retract your reckless statement.

What happened? The unanticipated and unprecedented crisis of 2008/09 hit the world. More than 40 US and European banks either collapsed or were shaken badly (remember the Lehman Brothers, Fannie Mae and Freddie Mac, Wachovia, HSBC, Lloyds TSB, Citibank, Goldman Sachs, even UBS, etc) and hundreds of billions of dollars were spent to bail them out. The contagion effects spread like a wild fire, destroying national stock markets and banks. The nascent (big) banks in Nigeria faced sudden multiple shocks— liquidity, exchange rate, oil price, capital market, etc. As oil prices collapsed, loans to oil and gas became non-performing overnight; loans to the capital market became non-performing overnight; etc.  Our first priority was to save the entire banking system and the economy from systemic collapse. I assured Nigerians that no bank would be allowed to fail, and not many people know what it took to achieve it. Once we had navigated through the unexpected /unprecedented turbulence, we laid out a comprehensive plan to clean up the debris which we presented to stakeholders in Lagos (March 2009). I had pleaded with the Senate to pass the AMCON bill which we sent to them in 2004. But I had a comprehensive plan to finish the clean-up with or without AMCON by the end of 2009, including second round consolidation and a N500 billion fund (my book will detail all these). I left behind an 11-volume document of the Financial System Strategy 2020 (FSS2020) which has remained the policy roadmap for the CBN/financial sector since I left office.

I have two analogies for our experience. Ours was really like an airplane that was cruising and suddenly meets an unexpected and unprecedented turbulence. After the pilots and the crew succeed in navigating through the potential crash and probably land the airplane, people look in and start blaming the crew for the broken tea cups, chairs, and drinks that fell during the turbulence as evidence that the crew never kept the airplane clean or serviced it. My second analogy is that of a sudden earthquake in a region it was never expected and some houses collapsed. All of a sudden, the housing authority is to blame for not requiring earthquake-proof foundations for the houses. Well, my legal experts call it force majeure, an act of nature!

To be fair, after every crisis, there are lessons (and my book will detail what, with benefit of that experience, we should have done differently). Risk management— which has always been there— now took a new centre stage all over the world following the crisis. But for anyone to suggest that CBN under me, for one minute, took its eyes off the ball is, to say the least, ludicrous. The US financial system literally crippled the world costing America hundreds of billions of dollars but no one has suggested that Alan Greenspan is no longer the great maestro!

AMCON is a big topic (which I will address at a later date) but her claims show either ignorance or mischief. She claims that N5.7 trillion of AMCON funds was used to rescue banks and the ‘bond issued’ as ‘cost to taxpayers’. Really? I will deal with the AMCON I envisaged and the AMCON under you later but let me state that even if 100% of the banks’ NPL was offloaded on AMCON, it would not be up to N5.7 trillion. Enough said for now. The fact is that the Federal Government has not put a penny in the AMCON fund: the banking system is financing itself, and together with the sinking fund by banks, AMCON surely can’t default (thanks to consolidation that the banks are now big enough to cough out such funds to solve the system’s problem). Did you intend to deceive the readers by refusing to tell them that much of the AMCON fund is ‘investment’ and not ‘expense’. Am sure you heard the IMF’s alarm about moral hazard? If you want, we can have a focused debate on AMCON.

Next, let me briefly respond to a few outlandish claims. She brags about ‘single-digit’ inflation rate ‘now’ and alleges that when I left office, inflation was above 13%. I just laughed at this one. In Nigeria’s history, no governor of the Central Bank has delivered 24 consecutive months of single digit inflation as I did until the advent of the unprecedented global crisis in 2008. It was not for nothing that the world cheered us as monetary policy czar, Madam! Perhaps you are also not aware that we broke a world record by having a depreciated real effective exchange rate during a time of export boom and this was at the heart of our reserve accumulation and the portfolio/FDI inflows. I resisted the IMF advice to deplete reserves for liquidity management, and Nigeria had enough self-insurance to survive the global crisis.  The opposite has happened under you Madam, and the Nigerian economy is in trouble. Naira exchange rate appreciated under me from N133 to N117 before the global crisis; and reserves grew to all time high of $62 billion. For the first time since 1986, the official, interbank and parallel market exchange rates converged under me. You can’t match these records!

I hereby challenge your attempt to blame others for not saving for the rainy day. It is not a virtue when you are quick to appropriate all the credit when things are going well, but shift the blame when they go wrong. You blame the state governors— who, according to you, have taken the Federal Government to the Supreme Court—not that a Supreme Court judgment forced your hands. For your information, the governors have never agreed to savings and always threatened court action even under Obasanjo. Why did we save under Obasanjo but not under Jonathan? Two keywords explain it: leadership and integrity.  Governor Amaechi said the governors insisted on sharing the funds because they found out that you were illegally fiddling with the savings.  So, as Nigerians still wonder, if billions of dollars are now ‘missing’ under your nose, why should governors trust you to keep their money?  Do the states that have taken the federal government to the Supreme Court and refused to save also include the PDP governors—who are in the majority? If so, then it is fatal: even governors of your own party, PDP, do not trust you to keep their money! Furthermore, did the governors also stop the Federal Government from saving part of its share? If you ran a surplus budget at the Federal level, you would have had credibility to blame others or to say they did not listen to your advice. The key point is that since you were running huge deficits yourself, it was also in your own interest to share the ECA. You did not show leadership or credibility, full stop!

Next, Madam, I was really embarrassed for you to read that one of the reasons for declining forex reserves is ‘oil theft’. Under you as Minister of Finance and coordinator of the economy, the basket of our national treasury is leaking profusely from all sides. Just a few illustrations! First, you admit that ‘oil theft’ has reduced oil output from the average 2.3 – 2.4 million barrels per day (mpd) to 1.95mpd (meaning that at least 350,000 to 450,000 barrels per day are being ‘stolen’. On the average of 400,000 per day and the oil prices over the past four years, it comes to about $60 billion ‘stolen’ in just four years. In today’s exchange rate, that is about N12.6 trillion. This is at a time of cessation of crisis in the Niger Delta and amnesty programme. Can you tell Nigerians how much the amnesty programme costs, and also the annual cost for ‘protecting’ the pipelines and security of oil wells? And the ‘thieves’ are spirits? Come on, Madam!

Second, my earlier article stated that the minimum forex reserves should have been at least $90 billion by now and you did not challenge it. Rather it is about $30 billion, meaning that gross mismanagement has denied the country some $60 billion or another N12.6 trillion.

Now add the ‘missing’ $20 billion from the NNPC. You promised a forensic audit report ‘soon’, and more than a year later the Report itself is still ‘missing’. This is over N4 trillion, and we don’t know how much more has ‘missed’ since Sanusi cried out. How many trillions of naira were paid for oil subsidy (unappropriated?).  How many trillions (in actual fact) have been ‘lost’ through customs duty waivers over the last four years? As coordinator of the economy, can you tell Nigerians why the price of automotive gas oil (AGO), popularly called diesel,  has still not come down despite the crash in global crude oil prices, and how much is being appropriated by friends in the process?  Be honest: do you really know (as coordinator and minister of finance) how many trillions of Naira, self- financing government agencies earn and spend? I have a long list but let me wait for now. I do not want to talk about other ‘black pots’ that impinge on national security.  My estimate, Madam, is that probably more than N30 trillion has either been stolen or lost or unaccounted for or simply mismanaged under your watchful eyes in the past four years. Since you claim to be in charge, Nigerians are right to ask you to account. Think about what this amount could mean for the 112 million poor Nigerians or for our schools, hospitals, roads, etc. Soon, you will start asking the citizens to pay this or that tax, while some faceless “thieves” were pocketing over $40 million per day from oil alone.

You alluded to debt relief in your response and tried to take credit. Well, your CV is honest enough to admit that your two achievements in office as Finance minister under Obasanjo were that “you led the Nigerian team that struck a deal with the Paris Club” and that you “introduced the practice of publishing each state’s monthly financial allocation in the newspapers”. You are right about the two achievements. Let me put on record that Nigeria would have secured debt relief under anyone as Minister of Finance. President Obasanjo secured debt relief for Nigeria. Much of his first term was used to get Nigeria back into the international community and to campaign for debt relief. Before you were sworn in as Minister of Finance, President Bush visited Nigeria and both of us accompanied President Obasanjo during the meeting. There, Mr. Bush promised to support Nigeria with debt relief and asked our president to ensure that he met the conditions of the Paris Club. Obasanjo mobilized the global political support and coordinated all of us to ensure that the government met the check-list of ‘conditionalities’ as required.  I spent five weeks in the hotel with my team (as coordinator/chairman for drafting the National Economic Empowerment and Development Strategy, NEEDS).

Some of the reform targets in NEEDS became the ‘conditionalities’ Nigeria was required to fulfil to merit debt relief. You and I signed the various MoU with the IMF on behalf of Nigeria (the policy support instrument). We had a great team at work and each member of the economic team had specific aspects of the conditionalities to deliver: Bode Agusto was in-charge of the budget; Oby Ezekwesili held sway at Bureau of Public Procurement and later Minister of Solid Mineral, and Education (but specifically tasked with delivering on EITI and procurement reforms); Nuhu Ribadu was at the EFCC fighting corruption; I was at the Central Bank delivering on monetary policy and banking reforms; Steve Oronsaye worked hard to delist Nigeria from the FATF; Nenadi Usman was in-charge of the parastatals; El-Rufai held forth at FCT and in charge of public sector reforms; privatization programme went on, etc. Did you know that the IMF wrote President Obasanjo threatening that there would be no debt relief if the CBN did not meet some monetary targets, and do you know the magic we performed to meet them? Can you tell Nigerians which of the ‘conditionalities’ that you personally implemented? With the groundswell of political support and Nigeria meeting all the ‘conditionalities’, debt relief was assured.

Your major role as stated in your CV was to lead the team to negotiate the specific terms of the relief, having fulfilled the conditions. I still believe that Nigeria should have gotten far better terms than you negotiated. Of course, with your eyes on returning to the World Bank after office, I did not expect you to boldly stand up to the donor community in defence of Nigeria. Was there a conflict of interest on your part?

By the way, can you tell Nigerians why you were eased out as Finance Minister and you cried like a baby begging OBJ to still allow you remain in the Economic Management team—- barely few weeks after the debt relief? Why were you eventually also removed from the economic management team if you were so important?  Ironically, President Jonathan has recycled you, with a bigger title and greater responsibilities. But the difference is that the team that did the actual work is no longer there, and the world has seen that the king is naked.

You are brilliant Madam, but you need serious help. Having spent all your life in the World Bank bureaucracy largely in administration/operations, no one will blame you if your economics has become a bit rusty. There are firebrand Nigerians all over the world to draft to service. It is certainly embarrassing to Nigeria for you to be bothering World Bank economists to help you with most basic economic analysis.

Your response on the poverty issue is deeply troubling. You accuse me of using “2011 statistics on poverty by the NBS to support his argument, while ignoring more recent figures”. At least you did not refute the NBS figure as valid. In the next sentence, Madam went ahead to note that “as stated in the Nigeria Economic Report 2014 by the World Bank, poverty in Nigeria has dropped from 35.2 percent of population in 2010/2011 to 33.1 percent in 2012/2013”. Did you notice that you have quoted two figures for poverty for the same year as being equally correct? So, for 2011, was poverty 71% (according to NBS) or 35% according to the World Bank? To the best of my knowledge, the last published household survey by NBS was in 2011. The World Bank does not conduct household surveys in member states to determine poverty incidence. So, when and by whom was the survey that gave the World Bank figures?

What worries me is that this government is the first in our history to attempt to manipulate our national statistics under Okonjo-Iweala. When NBS published the poverty figures in 2011, she felt indicted and incensed. She called upon the World Bank to come and examine the ‘methodology’ and get NBS to ‘review’ its numbers. Oby Ezekwesili (as VP Africa Region rejected the call to try to tamper with a country’s statistics). Once Oby left, the ‘World Bank’ started talking about ‘new figures’, without conducting any new surveys.  I was told about it by a World Bank economist, and I cautioned that it was a dangerous gamble that would damage the credibility of the NBS. If you want to ‘review methodology’, you conduct another survey but you can’t change ‘methodology’ because you don’t like the published figures. No government in our history has tried it: even Sani Abacha allowed a poverty survey that put poverty at 67% under his regime. At this rate, who will believe statistics coming from the Nigerian government again? Is it now the World Bank that sits in Washington and allocates poverty numbers to Nigeria? Something smells here!

Madam alleges that the NBS—as a parastatal under the National Planning Commission (under me) departed from the ‘international standard method of poverty measurement’. How and when, Madam? I was in office at National Planning for 11 months from July 2003 to May 2004. A poverty survey was conducted in 2004 and the results computed and published in 2005/2006— more than a year after I had gone to the Central Bank. Or perhaps, it was a clever way to divert attention from your manipulation of published economic statistics. The NBS published its poverty data in 2006 when you were Minister of Finance, and you did not question the ‘methodology’ because the figures looked good. In 2011, the poverty numbers (using the same methodology as in 2005/2006) indicted the government and suddenly, the ‘methodology’ is wrong. Interesting times!

Now that you decide which economic statistics published by NBS to accept and which ones to ‘change the methodology’ to give favourable figures, you can keep feeding your manipulated figures to your international media circus for the vain glorious awards to sustain an empty hype, while Nigerians groan under hardship. We can actually ask Nigerians whether they are getting better off now contrary to your bogus figures.

Many of Madam’s responses were comical, but this one is classic. According to her, the chief economic adviser and NBS “worked hard to determine how many jobs we need to create in a year”, and went on to ask, “why didn’t Soludo do this when he was CEA?” (Lol!). Madam, any good economist needs less than 10 minutes to compute this figure, not the (months? of) ‘hard work’ by your team. My calculation is that the number of jobs Nigeria needs to create each year to significantly reduce unemployment rate to sustainable levels in the next few years is at least 3 million, and not the 1.8 million by your team. We are talking about the Nigerian economy, please.

Your magic wand for mass housing is the Mortgage Refinance Corporation with 23,000 mortgage offers—for a country with 17 million housing deficit! Then, there is the pedestrian proposal of a new development bank— financed with loans from the World Bank, etc? A World Bank loan to set up another ‘development bank’ where we already have Bank of Industry, Bank of Agriculture, NEXIM, Federal Mortgage Bank, etc? People have totally run out of ideas and can’t see anything for Nigeria without through the prism of the World Bank. I will offer you free consultancy on how to set up a development bank without a World Bank loan but we don’t need another one now. I actually gave President Yar’adua a two page note for a N3 trillion development fund then, and if we plug your leaking pipes, it could actually be a N10 trillion Fund. I envisioned and set up the Africa Finance Corporation (AFC)—Africa’s premier infrastructure bank!

Frankly, I don’t understand why you seem highly troubled that the Soludo you thought had “disappeared from the political space” seems to be still around. Well, let me assure you that I will only ‘disappear’ in God’s own time. I gave credit to two past presidents who laid the foundation of the market economy we operate today. You did not contest or contradict any of my points. Rather, what you see is that Soludo must be ‘looking for a position’. Pity! If I am looking for a position, I would be running around one of the candidates now just as you are busy dancing Atilogwu dance at TAN and PDP rallies, struggling to keep your job. How Yar’adua drafted me to contest for governor in Anambra and APGA leadership as well and how I was “stopped” on both occasions are in the public domain. But I am not deterred for one minute. Chinua Achebe said that on leadership, Nigeria is a country that goes for a football match with its 10th Eleven. I am proud and happy to have offered to serve my people, and for the service of Nigeria, I will do it again and again. How many times did Abraham Lincoln, Obama, Reagan, etc contest before they got there? I actually encourage everyone who believes he/she has something to offer to get involved or stop complaining. I am happy seeing the increasing critical mass of professionals (like you) now getting involved. It is good for Nigeria!

What is at stake is the survival and prosperity of Nigeria. Next elections are critical, and for me the key is the ECONOMY. We must offer Nigerians clarity on the choices before them. Can I propose a three-way debate with you (representing PDP/Federal Government), nominee of APC (Utomi or Fayemi? or any other), and myself (as independent citizen— I don’t belong to any of the two). Let us have two bouts of debate between now and 12th February, 2015 focusing on: CBN/AMCON and the financial system (if you want); our economy and its outlook, and agenda/alternative paths to sustainable prosperity post elections. Choose the dates and times, and for the sake of Nigeria, I will fly in. You can invite any of your international media friends as moderators. I feel the pain of the 180 million Nigerians whose tomorrow you have carelessly rendered bleak, and when I think of what the missing trillions could do for them, it becomes extremely urgent that we all must deepen the debate. Eagerly waiting for your response, please!

Chukwuma Charles Soludo is a former Governor of the Central Bank of Nigeria

You can  also read the article on our opinion blog here 

Here’s link to Mr. Soludo’s first article:  Buhari vs Jonathan: Beyond The Election, By Chukwuma Charles Soludo

And here is the link to Mrs. Okonjo-Iweala’s response to Mr. Soludo’s first salvo:  Beyond Belief: Soludo’s Article on Economic Management Deficit in Facts, Logic and Honour, By Ngozi Okonjo-Iweala


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  • saint

    the government has never seen herself to be wrong at any point, that is why there are usually resistance to changes and suggestions from outsider…the worse a man could do to himself is to believe that he is never wrong and can never make mistake. the blunt truth here is that Nigeria is in need of help, she need help quickly before there is a major major explosion.

    • Fairgame

      The main help we need is to rid Nigeria of the Soludos, and their ex military God fathers like Obj, Danjuma and their violence prone born to rule parasites like Buhari.

    • Wähala

      Soludo’s childish tirade will certainly not get a 2nd rebuttal from Dr. NOI. He’s a failed economist cum politician. Read El Rufai’s response to Charles Soludo and you will dismiss this gibberish as the mudsling it truly is. Boastful yet, full of contradictions… like claiming 82% approval rating in an “unscientific poll” of Nigerians yet, took a boot in the ass in Anambra State governorship elections same year, losing to unknown Peter Obi. Soludo may impress local audience with this windy dissertation of a reply, truth is, he’s a nuisance in the run-up to the general elections for his attention seeking tirade. My sister currently works as a researcher for 2 Nobel Laureates in Medicine, so his mentioning all that is playing to the gallery. Fact is, it took a Dr. NOI to bring Chukwuma Charles Soludo into the limelight… and without Dr. NOI, Soludo has remained in darkness since leaving government. Ask yourself why!

  • BlackieUmukoro

    You are with them ,it doesn’t matter, you shall all be humbled soon. You have joined, the league of Oby. Your hashtag shoud be #BringBackOurEconomy to satisfy your new paymasters

  • justme

    Exempting urself from the present financial crisis nigeria has been engulfed with is a far cry from the truth,Mr Soludo!

  • Advocate

    THIS IS ALL GEJ’S FAULT AS A CLUELESS LEADER.

  • NaWahh!

    Gad Dammittttt …. This Soludo is heartless.. You wan kill this woman ?

    • Fairgame

      The person who will kill OkonjoIweala has not yet been born. Soludo will go the way of the others before him who tried.

  • Maria

    Jonathan’s government’s foundation is laid on deceit and fraud.

  • Fairgame

    The man is clearly now suffering from the onset of dementia. It is often said that bitterness eats a man’s heart out and having lost all credibility Soludo thinks he can use OkonjoIweala to gain cheap popularity. For anyone who knows OkonjoIweala, please tell her to ignore the drowning man. He is not worth engaging with. Soludo, Nigeria’s 5.7 trillion that you dug us into will hunt you and your generations. Ingrate.

    • olu_kay

      Dispute the facts he wrote of the missing $20 billion,NOI manipulating statistics to show reduced unemployment,negiotating debt relief to World Bank favour during OBJ time because of conflict of interest, oil bunkering increasing to 350,000-450000 barrels a day. Don’t use sentiments to Judge Soludo kindly dispute the facts he put up.

      • Fairgame

        And who told you 20 billion was missing? Show me where even Sanusi stuck to one figure besides isn’t it to your shame that not you or Soludo has ever attempted to ask the minister of petroleum any questions. why? Because she will revoke all the oil licenses of the Tinubus’s so you all think OkonjoIweala is soft target. I dey laugh. What is coming to you, all of you, will make you beg for God to take it away.

        • olu_kay

          Soludo addressed that in the article ,PWC was paid millions of dollars to audit NNPC by the goverment for the disrepancy between NNPC and CBN on the missing $20 billion, yet the report is still not out after a year. Ngozi Iweala in a TV interview with AL Jazeera also admitted there was a disrepancy,according to Sanusi based on oil sales $67 billion instead of $47 billion was paid into the federation account that was the issue of the $20 billion missing came up. For example if you own a car business and sell 10 cars and only see the price of 5 cars in your account you will know the accountant in the business is cheating you

          • Fairgame

            So ask the minister of petroleum. Why does Soludo and the rest of you shy away from that? It is just the most ridiculous thing that an audit is done of NNPC and everyone is shaking in fear to ask the minister of petroleum any questions.

          • M Ajonye

            Soludu talks about the economy of it entirety, not isolating any particular ministry or government agency, and who is better to address the issues he raised than the CME who happens to be NOI? Instead she resorted to personal attacks on Soludo’s personality. So I think you need educate yourself with what CME responsibilities are, before coming here to spew rubbish!

          • Rotimi Lawanson

            Soludo is a bitter man. When he is not the center of attention he cannot stand it. Read Nasir El Rufai’s book and you will get a good picture of Soludo. He is very flawed character wise.

          • Fairgame

            She responded with facts and figures and anyone who did not read her response as I suspect you did not will believe the half truths published by Punch and the rest. Anyway, as for Soludo, there could be no better assessor of his over blown sense of ego than what he has written in the article above praising himself to the high heavens and attempting to rewrite history. No need to respond to him lest people think that Soludo is not the only mad person on parade.

          • Charles owolabi

            Olu I know you mean well for Nigeria but the problem does not rest with madam. It was Madam who requested that a forensic audit be conducted by an internationally reputed accounting firm that is why we have PWC conducting an audit at all. Sanusi had put out so many figures it was embarrassing for a man in such an exulted position.
            First he said 57 billion was missing then he reviewed it downwards to 48 then he reviewed downward again to 12.4 billion Usd then he did an upward review to 20 billion.
            Any reasonable human being seeking the truth would have done what madam did call for an audit of NNPC. Remember that madam also requested during the hearing that the federal ministry of finance should also be audited for all to see what came into the federation account. Would someone who has something to hid do that? The answer is capital NO
            What is clear is that the discrepancy that occurred was as a result of flowing accounting processes something
            Malam Sanusi failed to understand because he was never taught that at ABU- remember The quota problem?
            He is also too big to learn ? If he had attended great IFE he would have been taught flowing or moving accounting processes . We did it in year 3
            How ever for clarification I would explain. People like Soludo who claims to know it all may not even understand why Sanusi was putting out different figures.
            I was an auditor for a major accounting firm in Nigeria before I left for futher studies in the United states. One of our clients was the CBN and I worked directly with the export desk. So I am a living authority in reconciliation of oil and non oil exports. At that time I had a first degree from Ife 2.1 in accountancy and also had my ACCA .
            I have since gotten an MBA and a PHD from good American Universities. However I treasury the training I received in Nigeria and the work I had to do. At a very young age I was exposed to the world of reconcillation and was left to run the unit for years. I therefore became the leading expert in the firm as I discovered so many trends in moving or flowing accounting processes. I would explain the problem I hope those of you who are not accountants can follow as I would try to make it as elementary as possible.
            the problem is as follows you may dismiss it but it is a fact
            Any export that is done in Nigeria is covered by an NCD form evidencing the exit of goods ( the NCD is like an exit visa for goods) from the country for which payments are automatically permitted within 3 months of exit. During those months there would be NCDs for which goods have left the country and payments are yet to be received. Typically at the end of a month when payments come in the NCD representing such payments are discharged .
            On a reconcillation basis therefore accumulated NCDs for which payments have not been received create a DIFFERENCE between shipment and inflows. In sum this means for a typical planning horizon of say a year the value of export shipments exceed actual funds received the difference being outstanding NCDs. The tradition at the CBN when I audited them was to pursue these outstanding inflows from relevant export institutions. These over the years is a settled routine with default only occuring for minor and non reputable export entities.
            That is something Sanusi did not understand when he went out to talk. In most cases there is no time when the CBN figures would tally with that of the Federal Ministry of Finance that in no way means that money has been stolen as a reconcillation would expose what outstanding inflows evidenced by the NCDs are expected
            Remember that Nigeria also sells oil on a bilateral basis to other countries examples include Ghana and China etc for whom payment is no remitted once the goods arrive. It is therefore conceivable that an individual who lacks the proper background would make such mistakes to think that money has been stolen or diverted when in point of fact I reconcillation would have solved the problem.
            I therefor have great respect for the minister who has invited a good and reputable firm to audit NNPC.
            If we truly seek the truth we must allow the audit to be conducted and delivered devoid of politics.
            In fact it is the job of the accountant generals office to review and release the report as stipulated in the constitution not that of Finance.
            It is therefore wrong to keep calling the Minister when the blame rest else where.
            As an auditor I find it disturbing why those responsible for NNPC are not vp being questioned? That is the primary source? Why is the petroleum minister not being questioned?
            As an auditor I would have started there.
            When this whole thing started out I contacted the CBN governor then and spoke to him about the problem . What I found was a man on a collusion cause with government. A man unwilling to backdown from an untrainable position.
            I had to leave the entire situation for it was clear to me that the then CBN governor was not in pursuit of the truth
            The result is what we have now a country that is very far from truly knowing if money was stolen or just a gross misunderstanding of the process.
            Okonjo – iweala has done the right thing lets us wait for the report after all when Obasanjo got the final report of the PTF that indicated Buhari of misappropriating 25 billion Naira many years ago, he did nothing for reasons best known to him. We are only knowing the contents of the audit now. Why then can we not wait a few more months for he realise of this report.
            Let’s be wise in our approach every thing is not politics.

          • olu_kay

            The report was supposed to be out by November according to the interview she gave in Punch in October 7th last year. I’ve been following the case since it started to find out the outcome.
            The goverment did’nt handle this suituation well and the act of suspending the whistle blower Sanusi and leaving Allison Madueke and the majority of people in NNPC untouched in the whole scandal leaves more room for suspicion. My personal view is the report by PWC has been completed according to schedule and timeline and it is not in the goverment’s favour and they are waiting till after the elections to release it or possibly trying to get PWC to doctor the report in their favour which I know they will refuse given the blow it will do to their global reputation.

          • Charles owolabi

            Olu omoluabi you may be right that government could always handle things better, but the fact is that this woman has nothing to hid. Secondly she is in a peculiar position she can not push the process or else
            What would be said may be totally different. It may come out that she rushed the audit so as to cover up dirt . Remember this is a forensic audit ooh. She therefore can not interfere with the process – olu truly
            For she is a person of interest
            If I were the one auditing and she called me , it would raise alarm bells in my mind.
            Thirdly by our constitution it is the job of the Accountant General of the Federation not FMF.
            Under the freedom of information act you have the right to go there and request the information .
            Why don’t you start from there
            In such an audit queries may have been raised for which answers have to be provided before the report is deemed concluded
            Why don’t you find out the current position of the audit
            From my view point nothing is on usual.
            Oby who is a leading APC member can shed some light on this she is a chartered accountant and professionally would tell you the truth
            She is also the wife of a pastor if she remembers and a Christian and is expected under Christian doctrine not to tell falsehoods against her fellow human being
            Madam Ngozi has acted professionally. That is the truth.
            We as a country are lucky to have her there.
            I would comment shortly on the economy. That woman is a gift to Nigeria olu and I mean it. When you compere developments in other oil producing nations you would know that Nigeria is lucky to have such a hand in the helm of financial affairs.
            I am not suprised at all she has yoruba blood in her.
            Her mother is Yoruba from Ijebu. Did you know that?
            She also went to school in Ibadan. Omo dada ni

      • Charles owolabi

        Since when did the minister for finance become the minister for defense of the country. Is she also the petroleum minister? Soludo and all his admirers know that facts on Nigerian statistics can be found in credible reports like the world development report , the world bank annual report on development, the ADB Journal on African growth and the Afrexim Report on African Trade. All those reports support madam Ngozi

        • olu_kay

          Why did ‘nt GEJ start this anti-corruption over the last 6 years. You seem educated,why will you support someone that that promises to fight corruption only if he’s re-elected. I expected better from you,your just a sheep to the elite that see’s them doing to wrong. I suggest you watch Animal Farm, and stop supporting your tormentors.

          • Charles owolabi

            Olu omoluabi if the truth be told GEJ has fought corruption more than any other President. He has faced corruption from an institutional stand point . It is under him that the subsidy probe took place and a process instituted to ensure that bleeding stopped. Femi otedola , wala Tinubu , Dapo and cohad almost killed the country . It was during Obasanjo that we suddenly saw these boys become dollar billionaires over night from selling petroleum products. It was under him that round triping increased in our banks. Recall the outback Shubomi Balagon problem with FCMB. Obasanjo and Yaradua did absolutely
            nothing. The token approach of arresting people and rushing to the TV surely does not constitute a well articulated corruption policy.
            In fact Nigerians ranking in the corruption index fell during Obasanjo. It may surprise you that it has risen during the GEJ years. Please find out from Oby.
            We must work with empirical evidence and not talk like conductors in a motor park.
            There has been a clean up of the fuel importation process and a push to fully deregulate the sector by bringing in the private sector into the process.
            As we speak Dangote , Orient petroleum , Antonio Oil and Jim Ovia , benedit Peters are individuals in the sector currently building refineries and petrochemical plants in Nigeria. Old these are facts.
            On power the discos have been fully sold to the private sector- this was a major source of drain for the government
            The ports have undergone significant reform to the point that you can actually clear your goods in 48 hours I have done so . So I can tell you this authoritatively .
            Roads – he has removed most of the police posts around the country which has significantly improved the flow of goods and services.
            Olu all through the country those institutional bottlenecks caused by the inclusion of the use discretionary powers by government officials are being torn down that is how to fight corruption not by arresting political enemies and putting them on TV while shielding friends and family. Obasanjo did just that with a relative who was a parmanent secretary who was charged to court for corruption he forced the state to drop the case against his relative. It was under him that we had the Halliburton Scandal. Remember- these are facts- I refer you to Simon Kolawole recent article on Obasanjo in this day newspapers. Read and you would understand what I am saying. So let us stick with the facts . Nuhu Rebadiu I hope I got the spelling of the last name correctly my apologies if I did not the head of the EFCC described Obasanjos administration as being worse than that of sani abachas in terms of corruption. Lou what could be worse than that. Did he not probe Buhari and found that 25 billion got missing. What did he do. Nothing. Why because he was afraid. Obasanjo never ruffed feathers he ran away from the hard issues book haram Shari etc. he never also did any thing because it was in Nigerias interest . Some how his own interest had to merge with that of the country before action was taken. For a man who left jail with 20 thousand Naira his stay at aso rock changed his fortune for ever. He chased people into exile like mike adenuga- the bull until they contributed to his library project
            Olu my brother let us be truthful to ourselves
            In fact Obasanjo appointed himself minister of petroleum and the nation kept facing fuel shortages all the time. Remember the long lines that Nigerians faces during his regime. Take our roads over 1 trillion Naira was spent on roads during the Obasanjo era what happened ? Not a single road was repaired.
            What about power. Obasanjo spent 16 billion on Power and not a single Meg watt was added to the grid. The money just disappeared
            Olu it would interest you to know that there have been more convictions under the GEJ administration than all through the Obasanjo era. Yes please call EFCC they would show you the convictions they have to date from inception and then assign dates for when the convictions were gotten
            You would be shocked
            The approach to use is fighting and dismantling the institutions that have discretion built into their processes.
            Lou is it not sad that all those shouting corruption have cases to answer
            Tinubu , el rufia , Saraki, silver, Amachi to name a few. Are these the change agents

          • olu_kay

            I like the way you argue your one of the sensible Goodluck Jonathan supporters that does’nt resort to insults.The fact I support Buhari does not mean I condone the corruption of Tinubu,Amaechi,Saraki etc.
            PDP and APC are the same,these elites are only after their self interest and enriching themselves,the masses are just pawns in their quest for power. Buhari had to forge an alliance with this unsrupulous characters because the way the political system is strutured is similar to a criminal organization like the Mafia.
            On either side of the divide in both PDP and APC you have drug barons,killers,ritualists,corrupt people.
            The reason I don’t support Goodluck Jonathan is that he has made no efforts to restructure the system or bring about any chnage,currently no prominent PDP or APC member has been charged for crimes they have committed. The charges by EFCC are mainly yahoo boys,fishermen and people without any prominent positions in the polity.
            Look at the people the President surrounds himself with Femi-fani Kayode has a corruption case next month,Kashamu is wanted by the USA for drug charges,Muazu was charged by Nuhu Ribadu during OBJ time for embezzling N17 billion,Anenih was appointed Chairman of NPA, Mohhamed Adoke and Malubu oil bribes,Alba Moro immigration scam,Namado Sambo N14 Billion Vice President lodge,Allison Madueke illegal transfer of NPDC oil blocks to Seven Energy and Atlantic Energy owned by Kola Aluko and Jide Omokore according to Sanusi etc. This people don’t mean well for the country and the fact this are in the inner circle of the President and still walking the streets free shows me the President is not sincere in his anti-corruption fight.
            Many APC members are equally liable for corruption and the President has made no effort to arrest or prosecute them. I think it’s better to stay neutral than support the President.

          • Charles owolabi

            Olu omoluabi I told you before that there is a theory called the doctrine of the circulation of elites. What we are facing is a fight by less than 1 percent of the population for power.
            I have reviewed what you wrote and find a lot of sense there. At the end of the day we must all vote out coincience . As a true yoruba man guided by my elders I would vote for Jonna.
            I intend to come home specifically for that.
            He would give us what we want a regional structure. Finish
            Let us have a loose federation where every one can grow at his own pace.
            I don’t truly feel that I have much in common with the Fulani man. Each time we have had a relation ship with them the cost have been dear. Right from the days of afonja.
            Please be guided by history.
            I do not want to be a Slave because I seek power.
            How can We vote a man who killed our brothers with retroactive laws
            A man who detained or kept our father baba Awo under house arrest and kept the Oni of Ife under house arrest for no reason- it shall never be well with him.
            As I speak to my relatives in Ibadan I would continue to warn them of the pending danger.
            We yoruba have a saying that when you are cracking ground nuts for a blind man you must be singing out loud so that he would know that you are not eating the ground nut
            That is why I am singing very loudly for my people are now acting like the blind man

  • By this response from the acclaimed Professor of Economics, Charles Soludo, our position at the HonsylGlobalcom- UK Global Online Financial Advisers on the Soludo years at the CBN, have been vindicated. We did state that, based on her response, we were ashamed of Dr Okonjo Iweala’s capacity and competence in the management of the Nigerian economy.

    • Fairgame

      It is only a mad man that will read what Soludo has written and think he has been vindicated. A man who could not supervise bankers and got us into a 5.7 trillion sink hole is the one vindicating you? Says a lot about you.

      • olu_kay

        He listed facts with numbers and figures,let Ngozi Iweala counter the facts he listed, disgruntled or not.

        • Fairgame

          It is said that when a mad man abuses you in the market square and you reply, passers by will think you both are mad. No need. The first response by the minsiter’s spokesperson is answer enough. She actually has a job to do while Soludo has been largely jobless looking for who to hang on to to regain some popularity especially considering how hooked on power he was. It must be terribly hard for him to be living in such obscurity. I case you know him tell him to find another target to use to crawl out of the words of obscurity because OkonjoIweala does not have his time.

          • Kay Soyemi (Esq.)

            You guys are screaming for a debate, now Soludo is offering one, you start to talk about being busy?

            “Can I propose a three-way debate with you (representing PDP/Federal Government), nominee of APC (Utomi or Fayemi? or any other), and myself (as independent citizen— I don’t belong to any of the two). Let us have two bouts of debate between now and 12th February, 2015 focusing on: CBN/AMCON and the financial system (if you want); our economy and its outlook, and agenda/alternative paths to sustainable prosperity post elections. Choose the dates and times, and for the sake of Nigeria, I will fly in. You can invite any of your international media friends as moderators”

            Chukwuma Charles Soludo has thrown the gauntlet, let us have a real debate instead of one with D’Banj or on thesis or certificates.

            Who is afraid of the truth?

      • risi

        Take time to read soludo’s current write up. Its expository.

        • Fairgame

          As was his 5.7 trillion hole when he was digging it.

  • Fairgame

    When a man has been roundly rejected and has lost all credibility he seeks to pull others into his pit. soludo you are wasting your time. You are a finished man and OkonjoIweala has no time for you, Obiageli Ezekwesili, Nasiru El Rufai and Angry People’s Congress (APC)

  • Comfortkay

    The world Bank will never give Dr Ngozi job again. Nigerian are worst off today than four years of Economy management.

    • Fairgame

      Hahahaha. Because of a Soludo who cannot even raise his head internationally again. Very funny.

      • Comfortkay

        It is not funny Bros. We know even the time Soludo want to cut off some zeros from our currency but the elites stood against him.

  • Maitama Tambari

    My brother Professor Solude, do not mind them. You have made your point much earlier and you should not have responded to her precarious rejoinder to yours. Take care.

    • Rotimi Lawanson

      Soludo is a Political Prostitute. Please go online and read about Soludo’s character.

  • Taster

    This is the kind of war we like in nigeria – debating issues and criticizing constructively.

    • Wähala

      You and who?
      Soludo is a nuisance in service for OBJ…
      He has neither shame nor class. If he’s 1% of what he claimed in this windy gibberish, why is he unemployed even by local banks in Nigeria? Notice he said he flew into Nigeria at his own cost? He flew in from Ghana because he’s a wanted fugitive in Australia for his role in graft and bribery during the polymer scandal… Soludo is finished, forget him!

      • Ukpaka

        My brother….I think you’re ready to fight anybody that speaks ill of NOI. We had that conversation previously. I don’t think you can easily dismiss the claims made by Soludo without facts.

      • Taster

        Still better he chosed to presenting his views in a civilized way rather than planting bombs n raping minors.

  • Fairgame

    Jealousy go kill some people o. soludo, Obiageli Ezekwesili, and all others. Jealousy go kill una. OkonjoIweala is truly a model for Nigerian women. Madam no mind them. Continue the work you are doing. We are praying for you.

  • maestro

    This is the most audacious, mouth watering piece I have read in a while. Its a clash of the titans…I admire the two sides but a professor of economics and a doctor, theres a clear difference…madame CME, please accept the challenge and for once we economics proteges would love to kbow your plan for nigeria in this state of declining oil prices and how you intend to brace the economy that has been in your care for years…big gbosa ro you my prof…the soludomic theory of economic revitalization…

    • Fairgame

      Some low lives like Soludo who have failed woefully politically and otherwise are not worth dignifying with a response. This is his ‘back to popularity’ stunt. I am certain OkonjoIweala’s advisers know that he is not worth paying any attention to. She is busy working to dig us out of the 5.7 trillion naira hole Soludo dug Nigeria into so she really has no time for the ramblings of a drowning man. He should keep doing the bidding of his master Obj but sooner than later he will go the way of the others before him.

    • Rotimi Lawanson

      NASIR EL RUFAI on SOLUDO’s CHARACTER::

      “The kind of targeted interventions needed to fill the gaps
      sustained by some of such policies were opposed by Soludo unless the ideas
      originated from him. As CBN governor, Charles did all he could to frustrate the
      attempts to establish a national mortgage system and was openly critical of
      Ngozi’s drive and contributions in getting the Paris Club debts written off for
      the simple reason that the the credit might go to others not Soludo!

      Charles is free to beat his chest and claim that the deformed
      baby called consolidation was a revolution, but today many of the the
      poster-children of the policy like Intercontinental, Oceanic, Finbank and
      Spring Bank are history, the banking-stockbroking rock stars are facing
      prosecution, and with N4 trillion spent to prevent the collapse of his
      revolution. When Charles’ memoirs are published, those that either witnessed it
      or had to clean up ‘the world’s fastest growing financial system’ will have
      their own views.”

  • Rotimi Lawanson

    EL RUFAI on SOLUDO’s CHARACTER::

    “The kind of targeted interventions needed to fill the gaps
    sustained by some of such policies were opposed by Soludo unless the ideas
    originated from him. As CBN governor, Charles did all he could to frustrate the
    attempts to establish a national mortgage system and was openly critical of
    Ngozi’s drive and contributions in getting the Paris Club debts written off for
    the simple reason that the the credit might go to others not Soludo!


    Charles is free to beat his chest and claim that the deformed
    baby called consolidation was a revolution, but today many of the the
    poster-children of the policy like Intercontinental, Oceanic, Finbank and
    Spring Bank are history, the banking-stockbroking rock stars are facing
    prosecution, and with N4 trillion spent to prevent the collapse of his
    revolution. When Charles’ memoirs are published, those that either witnessed it
    or had to clean up ‘the world’s fastest growing financial system’ will have
    their own views.”

    Nasir el Rufai

    • Fairgame

      That is the shameless Soludo man that is talking here. He has clearly not learnt anything from his fall from grace. Pride does go before a fall and by his recent actions Soludo hasn’t only fallen, he has also dug his grave.

      • Truthometer

        Carefully go through the message and address it; don’t attack the messenger. Don’t forget to vote for GMB. Change is coming to Nigeria!

  • Rotimi Lawanson

    NASIR EL RUFAI on SOLUDO’s CHARACTER::

    “Charles was introduced to me by Ngozi, and that was the
    foundation of our professional relationship and friendship. As far as I know,
    it was also Ngozi who proposed his name for economic adviser and Oby (and her
    husband) took him to Obasanjo several times before he was appointed. If Charles
    is denying that this happened, that is fine. It does not change the facts, and
    those that did what they did know what they did or did not do! Why is Charles
    so hurt that others have helped him? Is he suggesting that he had won the
    Nobel Prize in Economics and that is how Obasanjo got to meet and appoint him?”

    Nasir El Rufai

  • Fairgame

    Ego filled Soludo could not see that Yar Adua praised him to let him go. It was Yar Adua after all who refused to renew Soludo’s tenure at the CBN sending him chasing political imaginations that never came to fruition leading to his very bitt and depressed jobless state. Anyone who even regards Soludo’s words as anything more that a man seeking another political appointment is already deceived. Why it too two weeks to an election for Soludo who ‘knows Madam OkonjoIweala’ to voice his so called concerns about the economy to her through the pages of the papers speaks of one thing: Soludo is so jealousy infested that he and erstwhile enemy Oby have found a common person to hate on. Ambitions they say make strange bedfellows. But they will go the way of the others before them.

    • Ukpaka

      My brother, there is no time table or time limit to bring up issues of national importance for discussion. It does not matter if this was brought up months ago or last week but the most important thing is that this is a discussion we need to have especially now that the election is around the corner. Soludo indicated in his initial article that neither of the two political parties (PDP and APC) was addressing the issues that needed to be addressed. I read the re-joinder from Pat Utomi, Fayemi, and madam. Madam was the only one of the three to take it personal. She deviated from the issue of discuss to personal attack on Soludo. Not surprising, Soludo had to put together this write-up as a response to Madam’s attack. So, I am not sure how you can read this article with specific facts and your take away is “timing” of the article. Boko Haram has been ravaging the entire North East and our president decided to visit Borno for the first time (actually 2 weeks before his campaign in Borno). Why has he not visited all these years?
      We need to start being objective in our assessment of issues instead of always paying undue attention on whether the messenger is in this camp or not. If you have a contradictory point to the issues Soludo raised, this is your stage to make it known. Don’t slam Soludo because you like Madam. In the initial article from Soludo, he was addressing the economy in general and suggesting the political parties needed to discuss issues. Madam took it personal. She needed to be above board. She is far better than the Deri of this forum.
      We need this type of discussion. Let’s separate the message and the messenger.

      • Fairgame

        When Soludo abused the economic team calling them traders, was that proper? When he gave the economy F despite all the strides taken in Afpgriculture, infrastructure, privatization of power, etc, who was he attacking? You? Please be truthful for once. His jealousy of OkonjoIweala as even El Rufai attested to in his book shows what character of a man you are listening to. A paid pseudo intellectual. Please if as your name suggests you are from the south east and you are not disgusted by this Soludo’s public dance of shame for his master Obj, I pity you. As for me it is a disgrace that Igbos are attacking a very hardworking minister from their region. After they will wonder why the rest of Nigeria does not respect them. I admire OkonjoIweala because she has accomplished what all the past finance ministers in Nigeria put together ( all men) never achieved. So Soludo should shut up and go and marry his wife like most men who have failed woefully do,

        • Ukpaka

          Let NOI defend herself. You’re not her designated spokesperson. Stick to specific issues Soludo pointed out and let me know what you disagree with and facts to prove your case.
          Also, a sub-standard job is just that…a sub-standard job weather it was performed by my mother or Funke or whoever. We need to stop the nonsense of always supporting wrong acts just because it was perpetrated by somebody of your tribe. We need go beyond that.

  • Rotimi Lawanson

    EL RUFAI ON SOLUDO’s CHARACTER::

    “Charles presented his jaundiced interpretations of what I
    wrote in clear language as my views in his piece. For instance, there was
    nowhere in the book that I wrote that ‘Ngozi was power hungry.’ She was
    pragmatic and realistic about power relations. How does that equate to being
    power hungry? Charles is playing with words in a patently dishonest way.
    In the book, I wrote that Charles did many things to

    ingratiate himself to Obasanjo, one of which was to attribute every good ‘idea’
    to the latter; not actual achievements, since there were few in the early days.
    Charles’ response was to misrepresent what was written, just as he knows that
    there is no weight to the claim that appointees under a presidential system
    cannot claim credit for their work.”

    Accidental Public Servant – Nasir el Rufai

  • Rotimi Lawanson

    SOLUDO: A PSEUDO-INTELLECTUAL FOR HIRE

    January 27, 2015

    – I have taken my time to read, albeit painfully, the very lengthy article put together by Soludo and gleefully published by Sahara Reporters. When I read the article from a man who literally dropped off the surface of the earth for about 5 years, my first question was not, “What is he saying?”, rather, “What does he want?” in Soludo’s case, the answer is clear enough; or at least, I shall try to make it clear. Charles Chukwuma Soludo’s pen-ultimate article in which he criticized the government, and to which he himself refers in his last publication, was written in 2010 just when we were on the brink of an election. In fact, the scenario was not much different from what we have now. With an election on the way in 2010, the former CBN Governor blasted the government, citing different reasons why he had rated the government to have failed. Now, he is back, with much the same story except for the fact that the narrative is longer.

    In life, Intelligence and character are not synonymous with each other. What Soludo has in intelligence, he lacks in character and because his character far dominates his intellect, he is wont to continue making bad decisions due to bad judgement. As a respected and revered investor and global statesman once said; we should always look for three things in an individual: Intelligence, Energy and above all character (integrity). He said we should choose people with all three but never work with a person who has intelligence and energy but no integrity. When Soludo came on stage he was a brilliant young economist and lecturer. He was well known within the East even though not internationally accomplished then as he would like many to believe. However, when Soludo was brought to Abuja to serve as Chief Economic Adviser, his real character emerged. As the saying goes, when you want to test a man’s real character, give him power. He had barely settled when he began displaying megalomaniacal tendencies and a giant and misplaced ego brought about by a deep insecurity. He appropriated every idea and became a one man riot squad. All ideas by the Economic team of which he was a member, soon became his personal ideas. Without decorum, he seized those ideas and claimed they were his. He, through his outsized ego, threw around his weight as CBN Governor and began to imagine himself as some overlord of Nigeria. Such was the treachery displayed by Soludo. Of course, we are all witnesses to the massive fraud that took place under his watch. Within a short while Soludo became mega rich. He bought houses in London (NEXT Newspaper expose) and was even arrested by EFCC for the Polymer scandal which is still ongoing. It took a Sanusi Lamido Sanusi to come and clean up the fraudulent mess that he left. The ooze and the putrefying smell of his dubious tenure is still with us. This is the same man that is pontificating as if he is a self appointed messiah. Hear him pander to all our ex military leaders in his write up in a desperate bid and mis belief that by acting the prostitute, he will be thrown some crumbs in the form of an appointment in a new government. But just as I mentioned earlier, when a man’s ambitions and lust for power far supersede that man’s intellect, that man will always display a lack of wisdom in decisions. That is why Soludo erroneously believed that he will be Vice President under Yaradua. That is also why he believed he will become Governor of Anambra State. Having failed in both attempts, he latched onto Atiku Abubakar in the mistaken belief that he will win the last primaries. That never happened. Then he attempted once more to become Governor of Anambra State and failed again. After hibernating in between his EFCC visits, Soludo is back again doing what he does best. Guess what? It’s another election year. The spectre of a position in government is too attractive for him to ignore. You would have thought that if Soludo felt so strongly about the economy he would have spoken up earlier than now. But for Soludo, that is not part of his character. Raw and blind ambition coupled with disgraceful and uncouth megalomaniacal tendencies laced with a penchant for corruption is truly what he is. Is anyone surprised that he is speaking now? Desperation for a position is what he is looking at. When a man can do anything for career advancement you know that is an individual you should never touch. Having failed in politics, he is back in the mistaken belief that a position under a new government in an election that hasn’t been decided yet is the solution to his woes. Once again, a sign of bad judgement driven by a lack of integrity. If he wants to lobby for a political appointment, there are certainly better and more respectable ways to do so. Class, poise and finesse never did anyone any harm.

    No, Soludo; It isn’t the government that should be graded an F, it is your character and lack of integrity that should be graded an F. No one will ever rely on a man that can never be trusted. No one will ever rely on a man whose ego, desperate ambition and lack of integrity drives him. I will end with this comment from someone online which pretty sums it all!

    Fairgame
    35 minutes ago
    I see that Soludo’s foray into his ill fated political outings – with Atiku first then later wanting to be governor of Anambra state, has left him bitter and jobless. No international agency has touched him since he disappeared from the public eye because of his colossal reputation as the fraudulent CBN governor. His rantings here are nothing but the last desperate act of a man who is drowning. Soludo in his typical over inflated ego tells us that all the international rating agencies are wrong and only he Soludo, the man under who the biggest banking fraud in Nigeria took place is right. What a shame that Soludo’s poverty of character has reduced him to a miniature stature of a man, a pseudo intellectual for hire.

    Uwa Eghomeka writes from Benin City

  • Okey

    Any one who had not expected a more vicious fight-back from Prof. Charles Chukwuma Soludo to the response Jonathan’s administration made to his (Soludo) “exploratory consultancy” missives would be highly mistaken. Soludo’s fight-back is much within expectation. Rather what was not within contemplation was the likelihood of Soludo owning up to a mercenary brief and mission, now ably revealed by him as the very aim, object and essence of his exploratory brief. Hear Soludo in his fight-back: “What name has the government not called President Obasanjo or any person who has dared to disagree with it of late?”

    While Soludo is entitled to his brief and journey but as a Nigerian, a little bit knowledgeable of Soludo’s odyssey, including denial of him the opportunity to be Governor of Anambra State by those whose errand Soludo has now undertaken, I have a duty to say again:

    Charles Chukwuma Soludo convinces me beyond all manner of doubts, that the average Nigerian elite is motivated only by PERSONAL INTEREST. To him, the much touted “National Interest” is a facade, a make-up to gain applause for relevance.

    Prof., without much ado, the summary of this your syndicated piece is quite discernible, the subterfuge of your first paragraph notwithstanding. Which summary is: Jonathan, the worst man; his administration the worst ever. Buhari, very much unknown to you, this Jonathan man has left a mountainous problem for you to clear but I, Soludo, is the best guy to assist you in clearing the mess.

    But I assure Chukwuma Soludo one thing: It is doubtful if he can EVER AGAIN impress or make meaning to his intended audience. For to them, Charles Chukwuma Soludo has committed the “Alex Ekwueme Harakiri.”

    Recall, Dr Alex Ekwueme had gone to Abacha’s National Conference wherein he advocated for “Rotational Presidency” as between the North and South and amongst the six (6) geo-political zones. The North, in particular people of the North-West, regarded that proposition by Alex Ekwueme as a direct attack against the North. How that was/is, is still a puzzle to those of us who genuinely desire the longevity of this nation vide justice and equality of citizens and opportunity. Alex Ekwueme was to be punished severely when during the 1999 PDP Jos presidential primaries, Northern leaders and their hirelings in Nigeria ensured that Ekwueme lost. He was to come again in 2003. Arewa Peoples Congress (APC) commissioned a study and report on “Between Obasanjo and Ekwueme, who the North Should Support.” What’s the outcome ? The outcome was instructive as it said in sum: Though Obasanjo has not performed, the North is still advised to go ahead with him instead of Alex Ekwueme.

    Why that long history ? The North says Charles Chukwuma Soludo dealt them a mortal blow. That when he carried out the recapitalization program, 25 banks survived. That of the 25, 13 had Yorubas as controlling shareholders whilst Igbos control 11, leaving the North with only one (1), Unity Bank. Without being reminded, the process that led to the privatization of the banks was very transparent as the banks were capitalized through the interests and funds of shares-purchasers, who happened to be mostly Southerners.That citizens from a section of the country did not show commensurate enthusiasm was no making of Soludo. But the North held him liable for that. Soludo’s “culpability” manifested when time came for the renewal of his tenure. Despite willingness of President Yar’Adua to tenure renewal which he had personally promised Soludo, some Northern elders insisted and ensured that Yar’Adua never renewed the tenure.

    No doubt, Jonathan’s unforgivable offence against Soludo was committed when Soludo vied for the governorship of Anambra State. (I could now remember myself then making strident, unrelenting calls on Thisday newspaper online – as I did on his second attempt – for a wholesale welcome of Soludo’s candidature, warning that Anambra and indeed Ndigbo will miss their way and suffer a dire consequence if Soludo was not given a prime place-role via Anambra State – to the point that many thought Prof. Charles Chukwuma Soludo had commissioned me for that. The fact being and remaining that, for me, that is not possible. Second, I don’t know him, he doesn’t know me either and I am not even from the same State). By that time, Jonathan was still “a good boy” to the Ota man. And the Ota instruction came that “Charles be stopped” because Charles posed a stumbling-block to “the ‘anointed son’ from Anambra.” Jonathan carried that instruction to the letter. In the result, both Soludo and the anointed son lost to Peter Obi. Perhaps for a pound of flesh, Soludo was latter to identify with Atikiu Abubakar in the PDP 2011 primaries against Jonathan.

    Now, Soludo, in obvious journey to protecting his personal interest, just like his fellow Nigerian elites, has undertaken the “Last Push” by joining in the “Operation Stop Jonathan.” My prayer for Soludo is: may you not in the end be found to have committed the “Alex Ekwueme Harakiri” !

  • Rotimi Lawanson

    El RUFAI on SOLUDO:

    “In the book, I wrote that Charles did many things to
    ingratiate himself to Obasanjo, one of which was to attribute every good ‘idea’
    to the latter; not actual achievements, since there were few in the early days.
    Charles’ response was to misrepresent what was written, just as he knows that
    there is no weight to the claim that appointees under a presidential system
    cannot claim credit for their work.
    The rest of Soludo’s article was spent blowing his trumpet
    of banking consolidation with his characteristic modesty! The dismissal of
    Charles’ over-hyped banking consolidation in The Accidental Public Servant
    therefore appeared to upset him more than anything else. He is still under the
    illusion that his ‘revolution’ changed our lives the way GSM licensing did! No
    one needs a single 234Next to see through the hype and the disingenuous
    comparison. Banks like First Bank, UBA, Union, Zenith IBTC, and GTB needed no
    consolidation. They had sound business models and were doing well without it.
    Soludo’s consolidation abolished investment banks and regional banks, while
    creating a few ‘big’ banks with funny names many of which were either comatose
    by 2009 or had to be subsequently saved by the Sanusi Lamido Sanusi rescue
    exercise. It is pathetic to measure the success of consolidation by the number
    of banks in the top 1,000 banks in the world. Did that ranking translate into
    increased lending to the real sector, greater employment opportunities for our
    people and intensified mobilization of savings in the way the GSM revolution
    did? No way, only massive margin loans to create a stock market bubble,
    engender insider lending and incestuous relations between regulators and
    operators in the industry.”

    Nasir El Rufai

  • Truthometer

    Ngozi Okonjo-Iweala is not a Minister of Finance in Nigeria, but a mere book keeper for the criminal gang, headed by Dumbo, looting and pillaging Nigeria’s treasury. But help is on the way. Vote for GMB!

    • Rotimi Lawanson

      Trutho Meter you are back here again with your dumb comments. Olodo.

      • Truthometer

        I’m going nowhere, bro. Have you been designated by your idle boss to go after me? I think if you channel the same energy/efforts toward fighting Shekau and his group, you might be seen as an hero in Nigeria one day. Anyway, don’t forget to vote for GMB!

        • Rotimi Lawanson

          HAHAHA! Lets see how God leads us. In two weeks all this will be over. Those like SOludo lobbying for jobs will go back crying. If i were you I will be worried. Anyone that SOludo has lobbied or supported has ultimately failed. He lobbied to be Vice President under Yaradua. He FAILED! He lobbied to extend his tenure at CBN. He FAILED! He lobbied Atiku to be his Vice Presidential candidate. HE FAILED! He tried twice to be Governor of Anambra State. He Failed. He was overwhelmingly rejected. His only appointment came from the same person he is attacking here. Would you trust someone like that? Only someone well versed in treachery will support this low life and scum called Soludo. What do you expect. He is very insecure.

          • Guguru

            How do you know this? Any evidence?

          • Truthometer

            We are eagerly and patiently waiting for Febuhari 14th, 2015; if your lazy and clueless boss would be bold enough, not to tamper with the electoral process. You will soon understand that, “Vox Populi Vox Dei”. A reminder: Cast your vote for GMB!

  • Rotimi Lawanson

    EL RUFAI on SOLUDO:

    Charles was introduced to me by Ngozi, and that was the
    foundation of our professional relationship and friendship. As far as I know,
    it was also Ngozi who proposed his name for economic adviser and Oby (and her
    husband) took him to Obasanjo several times before he was appointed. If Charles
    is denying that this happened, that is fine. It does not change the facts, and
    those that did what they did know what they did or did not do! Why is Charles
    so hurt that others have helped him? Is he suggesting that he had won the
    Nobel Prize in Economics and that is how Obasanjo got to meet and appoint him?
    Charles presented his jaundiced interpretations of what I
    wrote in clear language as my views in his piece. For instance, there was
    nowhere in the book that I wrote that ‘Ngozi was power hungry.’ She was
    pragmatic and realistic about power relations. How does that equate to being
    power hungry? Charles is playing with words in a patently dishonest way”

    NASIR EL RUFAI

  • Intrepid

    Mr Soludo, have you been paid by tinubu to take on the black race world acclaimed economic amazon? The woman who, through her Nigeria was placed alongside other best economies, as the best in the world. She distinguished herself excellently to the admiration of every African, in every forum she was called upon. In this time of so much political intrigues anything can happen. I would rather counsel the world class woman of substance not to fall for this bait, and move on with the business of bringing more economic success to Nigeria. We support you. APC have been punching the three steel – hearted amazons in Johnathan’s Government so hard that one has left, and here they come again. Woman be wary!!

    When I travelled to Nigeria some years ago, I slipped my fingers through those polymer notes of Soludo, I wept for Africa, seeing how the scripts on the new notes were already wearing out just after few months of usage. I swore whoever did this our country should rot in jail for ever. Here he is, trying to show relevance again, Oh Nigeria!!!

    • paul eneke

      Is this all you can contribute? upon all the issues raised by Soludo,its a shame! I have said it many times,this government will not leave easily,its another Abacha government,we’ll need fast and serious prayer to get them out.I can bet it

  • Forger

    Is Nigeria not a forgery? So what is wrong with forging economic statistics of Nigeria? You cannot use ideal statistics for a forged country. Pure & Simple. He is a Prof of economics but Soludo should go back to school to take courses in Logic or Basic Algebra. He seems deeply ignorant of the basic principles in Logic and Algebra….there is no way ideal statistics will work for a system that is itself a huge forgery.

    For example, students from the North have to score 2 marks to gain admission to Nigerian UNITY schools whereas other Nigerian students from the South, East & West have to score 139 marks to be admitted into same school. Tell me, isn’t this a forgery? But we accept it with no reason except on the basis of the fact that it is an ‘irrefutable presumption’ that the people of the North are ‘educationally disadvantaged’. …how then would the statistics for our educational system be ideal? Nonsense!

    • Okey

      All these elites are forgeries. Is Soludo himself not so enthusiastic and jubilant for having been procured work for a master Certificate and Statement or Results forger ?

  • Georgy

    Igbos are always their own worst enemies. You don’t get this gang up with other tribes. Yorubas work together. Hausas same. Igbos spend more time fighting themselves. Soludo and Oby, you should be ashamed of yourselves.

    • olu_kay

      So speaking the truth is termed ganging up now?Why are you bringing ethnicity into the equation this is 2015,educated people are past that now,only illiterates bring up ethnicity in his modern age.

    • Fairgame

      Exactly. But God will defeat all of them working against OkonjoIweala for their master Obj.

    • Onike24

      Yorubas do not condone nonsense, sorry, but what you see as a sign of backwardness, is actually progress. People should disagree on issues, it should not be personal and it certainly should not depend on ethnicity or religion.

      • Fairgame

        …Yorubas do not condone nonsense? Bros, what else can be more nonsensical that a coup by an Emir to sack the Oba? …are the people in Ilorin no longer Yorubas? I beg you, make u let people hear word o!

        • Onike24

          A coup by an Emir to sack Oba????

          • Fairgame

            What do you have in Kwara state? Is it the Oba of Kwara or the emir of Kwara?

          • Onike24

            Clearly you missed History classes! Go and read your history books. It’s like asking why we have an English man as the Prince of Wales, and the answer lies in history. Or why do we have a Bedouin King in Jordan? Again history!

          • Fairgame

            You are lying to yourself. You clearly do not know your history. The English are hated by the scots because they conquered the scots same way the Fulaniis conquered you people and enthroned an emir in Kwara. It is almost criminal not to know your own history.

          • Fairgame

            I mean the awkward position in Ilorin where an alien Fulani Emir sits on the Oba’s throne after chasing the Oba with bows and arrows many years ago. Or you are you saying u do not know ur history?

          • Onike24

            Again read history, education is crucial, frankly, I have neither the time nor inclination to engage in simplistic and circular debates, Good Night.

          • Fairgame

            hahahahahahahahahaha…..You for wait now! “Yorubas do not condone nonsense”. Indeed! …….Aboki spent 32 yrs in Obalende @ Doddan barracks without you threatening him. Not even once. So, why will aboki not be bombing & killing people? Bcos you gave him freedom to operate forever…and u come here to write nonsense!Fairgame

          • Onike24

            Again an innate difficulty to address issues, honestly I pity fellows like you, who for pittance stir hate and discord; while your paymasters buy mansions and jets in readiness of the day they have to flee, I hope you know FFK is British and his passport cannot be revoked since his Grandfather was born in the uk, so please kontinue as mama peace would say..

          • Fairgame

            You just spoke like you knew Obj the paymaster of Soludo. Quite intuitive of you.

          • Onike24

            ???? OBJ does not have a private jet; his is too stingy, so what are you on about?

      • True Nigerian

        Thank you, Nike! I like an intelligent woman; trust me, I do! 🙂

    • obsy

      Silly comment. Igbo should work together in nonsense? Because they are Igbo’s. What rubbish. What has that got to do with anything. Give the Igbo’s Biafra and let’s see what they will make of it. Absolutely nothing. What have they made of the east of Nigeria today?

      • Georgy

        Silly comment? Yet your response clearly confirms my point. Igbos truly are their own worst enemies. We spend trillions of naira developing other states in the north and south west, yet we abandon our own, so Obsy, you merely confirm my point!!! Give us Biafra and we would have pooled our resources from these states to develop ours. Notwithstanding, I believe in the project called Nigeria!

  • Rotimi Lawanson

    Nicholas Okoye, CEO ANABEL GROUP on SOLUDO

    “It was Sanusi Lamido Sanusi as Central Bank Governor, currently the Emir of Kano, that
    was needed to clean up the mess that resulted not long after the consolidation,
    in which many of the Super Star Commercial Bank CEOs who now had access to
    monumental volumes of cash as a result of the successful consolidation policy
    started behaving like kids in a candy shop and went on insider borrowing sprees
    that nearly brought down our economy. Sometimes it scares me to think what if
    President Yar ‘adua had actually renewed Prof Soludo’s tenor. Considering his cozy
    relationship with these super star CEOs of Banks would he have had the courage
    or the will to rain them in? That is a discussion for another day. Let me look
    at his paper for a second.”

    We now know where Prof Soludo’s sympathy lies, and it is inconsistent with his
    party APGA. His arrogance, misinformation and double talk tells me that we in
    Anambra State are lucky he never became our Governor.”

    Nicholas Okoye, CEO ANABEL GROUP on SOLUDO

    • obsy

      Please what does Anabel do? How much more the group.What do they sell. What do they make?? What is or who are Anabel Group. Pulliiizzz.

  • ConScience

    Soludo is brilliant in his redress. Bottom line Okonjo Iweale has never run a private business before and as such can never understand the intricacies of a complex economy like Nigeria. Her time spent at the World Bank only made her more of a theorist economist and inflexible and unimaginative at best. I do not know Soludo personally so I cannot attack his motive. Bottom line it is high time someone spoke about the farce management team trying to destroy Nigeria’s economy. We never benefited when things were robust and buoyant and now that Oil is at a 10 year low then you now ask us to make sacrifices. Maka gini. The audacity of this Economic team is at best laughable. They should make sacrifices and return back 80% of the depleted National treasures. Then maybe we can begin to take them seriously about their need to right the ship. Out with the incompetence In with accountability and transparency.

    • Rotimi Lawanson

      EL RUFAI ON SOLUDO:

      “Soludo’s article was spent blowing his trumpet
      of banking consolidation with his characteristic modesty! The dismissal of
      Charles’ over-hyped banking consolidation in The Accidental Public Servant
      therefore appeared to upset him more than anything else. He is still under the
      illusion that his ‘revolution’ changed our lives the way GSM licensing did! No
      one needs a single 234Next to see through the hype and the disingenuous
      comparison. Banks like First Bank, UBA, Union, Zenith IBTC, and GTB needed no
      consolidation. They had sound business models and were doing well without it.
      Soludo’s consolidation abolished investment banks and regional banks, while
      creating a few ‘big’ banks with funny names many of which were either comatose
      by 2009 or had to be subsequently saved by the Sanusi Lamido Sanusi rescue
      exercise. It is pathetic to measure the success of consolidation by the number
      of banks in the top 1,000 banks in the world. Did that ranking translate into
      increased lending to the real sector, greater employment opportunities for our
      people and intensified mobilization of savings in the way the GSM revolution
      did? No way, only massive margin loans to create a stock market bubble,
      engender insider lending and incestuous relations between regulators and
      operators in the industry.

      “The kind of targeted interventions needed to fill the gaps
      sustained by some of such policies were opposed by Soludo unless the ideas
      originated from him. As CBN governor, Charles did all he could to frustrate the
      attempts to establish a national mortgage system and was openly critical of
      Ngozi’s drive and contributions in getting the Paris Club debts written off for
      the simple reason that the the credit might go to others not Soludo!


      Charles is free to beat his chest and claim that the deformed
      baby called consolidation was a revolution, but today many of the the
      poster-children of the policy like Intercontinental, Oceanic, Finbank and
      Spring Bank are history, the banking-stockbroking rock stars are facing
      prosecution, and with N4 trillion spent to prevent the collapse of his
      revolution. When Charles’ memoirs are published, those that either witnessed it
      or had to clean up ‘the world’s fastest growing financial system’ will have
      their own views.”

      Nasir EL Rufai – Accidental Public Servant

  • anneedu

    Hmmm, their business

  • Ifeme Arinze

    You see why we can never grow as a nation instead of try and read meaning into what iweala and soludo said to know who is saying truth as the citizens some of you are here casting insults and aspersions. I weep for this country

  • Rotimi Lawanson

    THE REAL SOLUDO:

    EL RUFAI ON SOLUDO: “The kind of targeted interventions needed to fill the gaps
    sustained by some of such policies were opposed by Soludo unless the ideas
    originated from him. As CBN governor, Charles did all he could to frustrate the
    attempts to establish a national mortgage system and was openly critical of
    Ngozi’s drive and contributions in getting the Paris Club debts written off for
    the simple reason that the the credit might go to others not Soludo!”

    Nasir El Rufai

    • Onike24

      Can you people ever discuss issues? Surely you must know by now that all these personal attacks simply makes Nigerians more determined to vote Jonathan out.

      • Fairgame

        Discuss issues with who? Let Buhari and Jonathan debate and discuss issues. Not everyone who starts shouting from the roof top is worth responding to. the fact remains that Soludo is a bitter jobless man looking for a job. So application received but sorry there is no vacancy.

  • Fairgame

    The first time OkonjoIweala responded for the records but this time she does not have Time for Soludo, a self acclaimed Obj puppet. Anyway if this is any consolation. Soludo your job application has been received. Next? Oh it is the woman from Sambisa forest. Next?

  • Guguru

    Soludo, they cannot touch your ideas. They will only come back with ad hominem comments because they have run out of ideas.

    • Rotimi Lawanson

      Who will come to Soludo? Let me ask you one simple question since it is clear you are not intelligent. Have you ever asked yourself why SOludo waited for four years and just before an election to start speaking? Why is it that the last time he spoke about government, it was just before the last elections? If this man really cared about Nigeria, wouldn’t he have spoken before now? The answer is simple. he doesn’t give a damn about Nigeria. He is only interested in his selfish interest which is a position with a government he thinks will succeed Jonathan. That is why he waited like the opportunist he is to see whether Buhari has a chance before doing the bidding of his master Obasanjo. He will fail. If i were in APC i will be very worried. Anyone SOludo has backed has ended up failing. Remember he backed Atiku in 2010 and lobbied to be his VP. Atiku failed. He tried twice to be Governor of his state and failed. He even tried to extend his fraudulent tenure at CBN and failed. So what do you expect? He is a very frustrated man! He is not making progress anywhere!

      • Guguru

        I have no reason to ask any questions. If you wish to burn up your brain cells asking silly questions, then be my guest. As for intelligence, I recently trained my pet chimp to display better command of his thoughts than you have done.

  • Guguru

    Soludo,

    Jonathanians are convulsing over your apt, clear, and thought-provoking narrative. They want to jump from their window ledges out of frustration as they read the truthful comments you have provided. You just provided the most potent e-rat poison ever.

    • Rotimi Lawanson

      HAHAHAHA! Your commit gives you away. Lets wait for two weeks and know what God has in store for Nigeria. If Jonathan wins, will you go hug a transformer? Or will you come here like the empty barrel that you are to keep making noise?

      • Guguru

        I will have no bets with an agent of the king of hades.

  • Guguru

    I am surprised that Ngozi was crying like a bay to keep her job. This is sad. A whole World Bank Economist crying like a child over an insignificant job. The more I wonder about Ngozi, the more I wonder why she left World Bank to take the job in Nigeria. This lady may have a shady past. Otherwise why woudl she be so enamored with the mediocrity that exists in the Jonathan administration? Well, they say, “birds of a feather, flock together”.

    • Rotimi Lawanson

      If you believe that nonsense then come let me give you some snow in Sokoto. That woman is a tough woman and will never do that. Soludo is a fraudulent fellow.

      • Guguru

        You crawled with your whole anatomy into Ngozi’s mind to know that she is a tough woman? Are you Ngozi’s lap dog these days? Or were you born minutes apart from Ngozi to know that what she will or will not do?

        • Rotimi Lawanson

          Guguru ati Ogogoro, who even knows you? You are a nonentity. Olodo buruku! If you haven’t read her profile or read the recent tweet by Richard Branson last week on Ngozi Okonjo Iweala then you are an olodo.

          • Guguru

            Give a thousand monkeys a thousand typewriters and they will create a profile better than what Ngozi Okonjo- Iweala has.

          • Dan

            Guguru, what exactly are you saying? What point are you trying to make? You are indeed an incurable olodo.

          • Guguru

            Dan, and you failed to ask Rotimi the same question because your eyes and mind are located on your legs and not on your head, right?

  • Fairgame

    Second Niger Bridge, lagos Benin express road, dam in ogwashiukwu and many more are what our igbo Ada, OkonjoIweala has brought to the south east. Even Stella Oduah brought the international airport to Enugu. OkonjoIweala is still doing more to uplift the south east so anyone trying to pull her down is an enemy of the south east. soludo and Oby after doing the bidding of your master Obj let us see how you will touch foot in the south east. Shameless people.

    • Ukpaka

      What exactly has the East benefited from the “international airport” in Enugu?. How many International AirLines ply that route? How much was spent on upgrading the airport? Is the “upgrade” actually a euphemism for “embezzlement”?. Could they have used that money for something more beneficial to the average Igbo?. We know the different schemes they employ to “shop” $$. We are not fooled.
      Moreover, what Niger Bridge are you talking about? The one kick-started few weeks to the election?. The same one my people would be subjected to eternal toll?. Should I continue?
      There are people who vote on issues and there are others that vote by “this dude is from my side of the country”. We know who is who. I am from Anambra and have never met Buhari. My entire family and circle of friend will support him because the Jona we supported years ago has disappointed us. It’s time for change. We will try Buhari this time around.

      • Fairgame

        It shows that you are not from the south east from your response. Use your another name. Musa should be fine.

        • True Nigerian

          But who are you to decide who is from the South-East?
          You that question whether other people are from the south-east, what is south-eastern about you? How south-eastern do you really consider yourself to be? Are you really from the south-east?

          Just because somebody is supporting Buhari, you say that he or she is not Igbo. Are you that silly? Is your intellect that narrow? In Bayelsa where Jonathan comes from, it was a mammoth crowd that came to receive Buhari on the day he visited. That is Jonathan’s home state. Right? That should tell you how narrow-minded you are.

          I come from an Igbo family that suffered a major loss during the civil war in which Buhari fought against the Igbos. I will vote for Buhari. This is democracy! Deal with it!

        • Ukpaka

          otu mama gi

      • Guguru

        Ukpaka,

        Great questions.

  • Guguru

    Soludo, thank you for giving the Jonathanians the fever they sorely need. There is no paracetamol created so far that can sure their fever.

  • judey

    Charles was introduced to me by Ngozi, and that was the foundation of
    our professional relationship and friendship. As far as I know, it was
    also Ngozi who proposed his name for economic adviser and Oby (and her
    husband) took him to Obasanjo several times before he was appointed. If
    Charles is denying that this happened, that is fine. It does not change
    the facts, and those that did what they did know what they did or did
    not do! Why is Charles so hurt that others have helped him? Is he
    suggesting that he had won the Nobel Prize in Economics and that is how
    Obasanjo got to meet and appoint him?

    El Rufai……

  • judey

    There is no need to dignify Prof. Soludo with a response anymore. It
    is obvious that he needs and craves for attention. Maybe he wants to be
    the finance minister in Buhari’s republic….

  • Dan

    Soludo has gone further to cement the public opinion about him as an attention seeker. One would expect him to be wiser but obviously he has a long way to go.

    • Ukpaka

      What is your point? I hope you took time to read the whole article……………and your comment is the rubbish you have up here?. I think you need to read and comprehend first and then you can make a comment. Don’t comment on something you don’t understand.

      • Rotimi Lawanson

        SOLUDO: A PSEUDO-INTELLECTUAL FOR HIRE

        January 27, 2015

        – I have taken my time to read, albeit painfully, the very lengthy article put together by Soludo and gleefully published by Sahara Reporters. When I read the article from a man who literally dropped off the surface of the earth for about 5 years, my first question was not, “What is he saying?”, rather, “What does he want?” in Soludo’s case, the answer is clear enough; or at least, I shall try to make it clear. Charles Chukwuma Soludo’s pen-ultimate article in which he criticized the government, and to which he himself refers in his last publication, was written in 2010 just when we were on the brink of an election. In fact, the scenario was not much different from what we have now. With an election on the way in 2010, the former CBN Governor blasted the government, citing different reasons why he had rated the government to have failed. Now, he is back, with much the same story except for the fact that the narrative is longer.

        In life, Intelligence and character are not synonymous with each other. What Soludo has in intelligence, he lacks in character and because his character far dominates his intellect, he is wont to continue making bad decisions due to bad judgement. As a respected and revered investor and global statesman once said; we should always look for three things in an individual: Intelligence, Energy and above all character (integrity). He said we should choose people with all three but never work with a person who has intelligence and energy but no integrity. When Soludo came on stage he was a brilliant young economist and lecturer. He was well known within the East even though not internationally accomplished then as he would like many to believe. However, when Soludo was brought to Abuja to serve as Chief Economic Adviser, his real character emerged. As the saying goes, when you want to test a man’s real character, give him power. He had barely settled when he began displaying megalomaniacal tendencies and a giant and misplaced ego brought about by a deep insecurity. He appropriated every idea and became a one man riot squad. All ideas by the Economic team of which he was a member, soon became his personal ideas. Without decorum, he seized those ideas and claimed they were his. He, through his outsized ego, threw around his weight as CBN Governor and began to imagine himself as some overlord of Nigeria. Such was the treachery displayed by Soludo. Of course, we are all witnesses to the massive fraud that took place under his watch. Within a short while Soludo became mega rich. He bought houses in London (NEXT Newspaper expose) and was even arrested by EFCC for the Polymer scandal which is still ongoing. It took a Sanusi Lamido Sanusi to come and clean up the fraudulent mess that he left. The ooze and the putrefying smell of his dubious tenure is still with us. This is the same man that is pontificating as if he is a self appointed messiah. Hear him pander to all our ex military leaders in his write up in a desperate bid and mis belief that by acting the prostitute, he will be thrown some crumbs in the form of an appointment in a new government. But just as I mentioned earlier, when a man’s ambitions and lust for power far supersede that man’s intellect, that man will always display a lack of wisdom in decisions. That is why Soludo erroneously believed that he will be Vice President under Yaradua. That is also why he believed he will become Governor of Anambra State. Having failed in both attempts, he latched onto Atiku Abubakar in the mistaken belief that he will win the last primaries. That never happened. Then he attempted once more to become Governor of Anambra State and failed again. After hibernating in between his EFCC visits, Soludo is back again doing what he does best. Guess what? It’s another election year. The spectre of a position in government is too attractive for him to ignore. You would have thought that if Soludo felt so strongly about the economy he would have spoken up earlier than now. But for Soludo, that is not part of his character. Raw and blind ambition coupled with disgraceful and uncouth megalomaniacal tendencies laced with a penchant for corruption is truly what he is. Is anyone surprised that he is speaking now? Desperation for a position is what he is looking at. When a man can do anything for career advancement you know that is an individual you should never touch. Having failed in politics, he is back in the mistaken belief that a position under a new government in an election that hasn’t been decided yet is the solution to his woes. Once again, a sign of bad judgement driven by a lack of integrity. If he wants to lobby for a political appointment, there are certainly better and more respectable ways to do so. Class, poise and finesse never did anyone any harm.

        No, Soludo; It isn’t the government that should be graded an F, it is your character and lack of integrity that should be graded an F. No one will ever rely on a man that can never be trusted. No one will ever rely on a man whose ego, desperate ambition and lack of integrity drives him. I will end with this comment from someone online which pretty sums it all!

        Fairgame
        35 minutes ago
        I see that Soludo’s foray into his ill fated political outings – with Atiku first then later wanting to be governor of Anambra state, has left him bitter and jobless. No international agency has touched him since he disappeared from the public eye because of his colossal reputation as the fraudulent CBN governor. His rantings here are nothing but the last desperate act of a man who is drowning. Soludo in his typical over inflated ego tells us that all the international rating agencies are wrong and only he Soludo, the man under who the biggest banking fraud in Nigeria took place is right. What a shame that Soludo’s poverty of character has reduced him to a miniature stature of a man, a pseudo intellectual for hire.

        Uwa Eghomeka writes from Benin City

      • Fairgame

        Read what? That he is Obj’s puppet or that he did not leave 5.7 trillion naira hole or that he is praising himself half the article. Yar Adua praised him and let him go and he is proud to quote what Yar Adua said about him. That shows how daft the man is. That even when someone is being polite with him, he doesn’t get it because his ego will not allow him get it. Please Solduo is a discredited bitter jobless man who is applying for a position. All I can say is application received but sorry no vacancy.

      • Dan

        Of course I read the article. You are the one who should rather be asked not to comment on something you don’t understand. Isn’t it clear that this piece is nothing but a desperate attempt by a disgruntled element to vindicate himself?

        • obsy

          Absolute rubbish. If the Naira has depreciated from N165 to N210 to a USD in 4 months and you do not think that we have a problem with our economy then the fact is that you have at most 1 brain cell…and let’s hope it is benign.

      • Omolola Ajayi

        Thank you. I kept wondering the same thing by some of the comments am seeing here.

  • Rotimi Lawanson

    EL RUFAI ON SOLUDO: THE REAL SOLUDO!!!

    “Soludo’s article was spent blowing his trumpet
    of banking consolidation with his characteristic modesty! The dismissal of
    Charles’ over-hyped banking consolidation in The Accidental Public Servant
    therefore appeared to upset him more than anything else. He is still under the
    illusion that his ‘revolution’ changed our lives the way GSM licensing did! No
    one needs a single 234Next to see through the hype and the disingenuous
    comparison. Banks like First Bank, UBA, Union, Zenith IBTC, and GTB needed no
    consolidation. They had sound business models and were doing well without it.
    Soludo’s consolidation abolished investment banks and regional banks, while
    creating a few ‘big’ banks with funny names many of which were either comatose
    by 2009 or had to be subsequently saved by the Sanusi Lamido Sanusi rescue
    exercise. It is pathetic to measure the success of consolidation by the number
    of banks in the top 1,000 banks in the world. Did that ranking translate into
    increased lending to the real sector, greater employment opportunities for our
    people and intensified mobilization of savings in the way the GSM revolution
    did? No way, only massive margin loans to create a stock market bubble,
    engender insider lending and incestuous relations between regulators and
    operators in the industry.

    “The kind of targeted interventions needed to fill the gaps
    sustained by some of such policies were opposed by Soludo unless the ideas
    originated from him. As CBN governor, Charles did all he could to frustrate the
    attempts to establish a national mortgage system and was openly critical of
    Ngozi’s drive and contributions in getting the Paris Club debts written off for
    the simple reason that the the credit might go to others not Soludo!


    Charles is free to beat his chest and claim that the deformed
    baby called consolidation was a revolution, but today many of the the
    poster-children of the policy like Intercontinental, Oceanic, Finbank and
    Spring Bank are history, the banking-stockbroking rock stars are facing
    prosecution, and with N4 trillion spent to prevent the collapse of his
    revolution. When Charles’ memoirs are published, those that either witnessed it
    or had to clean up ‘the world’s fastest growing financial system’ will have
    their own views.”

    Nasir EL Rufai – Accidental Public Servant

    • Funso Ogunsanya

      Why are you so agrressive? How many posts in few minutes on 1 article? Habaa!!!this your work is hard ooo.

    • Enobong Udo

      Rotimi Lawanson alias media aide to Madam NOI, I can see your job is very tedious as you to try to post so many things in a single moment to cover people’s opinion about your boss. If it were possible, you’d have jumped out of your computer screen and physically use your hands to shut everyone up for trying to raise issues that doesn’t really sit well with your paymasters.
      But come to think of it, don’t you for a split second sit down to reason if what your paymasters are doing to our country’s future is good? Soludo raising issues is one thing, he may be biased or straight in his submissions; but the issues containing raw facts and truths is another thing.
      Rather than spend so much time going round without a good defense to your cash-lords, why not bisect Soludo’s submissions and trash them point after point so the whole Nigerians will know the truth behind all the raised issues.
      Honestly, your merry-go-round higgledy piggledy really makes me believe your masters are guilty as charged.
      Like asked in one of this comment, is Nigeria doing better than six years ago? If Nigeria was your personal business, from how it was in 2009, and you employed your Madam to manage, then six years later you found it like this, will you clap for your manager or???
      Mr. NOI or Lawanson, please do kind to show some decorum, your trying to shut every voice up is very disturbing.
      To be truthful, your paymasters have failed us. They have performed below an F-9 grade. And it will be so wicked for you to come out publicly where standard discourse are being carried out to try to market your rotten goods.
      Come Febuary 14, 2015, I will personally cast my one vote to Buhari (if you and your paymasters will let my vote count) for a change at least. And don’t rush to judge me as I’m not a card carrying member of any party. At least I still support my State Governor(Godswill Akpabio) for the unprecedented change he has brought to my homeland. Nigerians deserve better.

  • judey

    I think we should leave this man alone, he is only seeking attention, Everyone has forgotten him

  • TAWANDA INCOMMUNICADO

    Soludo is desperately looking for a job since he lost that election,his eyes are red,he is angry and frustrated .The Finance minister should ignore him and concentrate on her job of moving the economy out of the crude oil crash !

  • Bayo

    Soludo’s arrogance reaches to the high heavens. His feigned humility in attempting to discount his efforts to blow his own trumpet is a mere facade. His long winding piece is full of subjective statements which cannot form the basis of an informed opinion.

  • Ken

    With this piece, Soludo has finally confirmed that he is on a self aggrandisement mission. A professional like him ought to know that rejoinders are meant to address issues and not to toot one’s horn.

  • judey

    Sahara Reporters wrote on: Oct 04, 2010

    The police in Australia have been told how the Nigerian
    currency notes, the naira, were printed illegally by a firm in that
    country during the era of Prof. Chukwuma Soludo as the Central Bank
    Governor. Soludo was replaced last year by Lamido Sanusi.

    An Australian newspaper, The Age, reports that three former workers
    at The Reserve Bank of Australia’s currency firm, Securency, told the
    police that the firm produced millions of partly made Nigerian
    banknotes without authorisation from the Nigerian authorities, a
    practice former staff of the firm described as effective
    counterfeiting.

    The newspaper reports that the Australian Federal Police, AFP, have
    been investigating Securency for the past 17 months over its alleged
    bribery of foreign officials, including Nigerian and Vietnamese
    officials, to win contracts in these countries.

  • Rotimi Lawanson

    Charles Soludo is turning himself into the disgrace of the Igbo Nation. Whenever, Obasanjo wants to fight the Igbos, he recruits an Igbo stooge to do the dirty job for him. When Obasanjo to destroy Chris Ngige, he wanted to destroy Chris Ngige, he used Chris Uba. When he wanted to discredit GEJ over the Chibok girls, he used Oby Ezekwesili. Obasanjo now wants to get Okonjo Iweala to discredit GEJ globally, alas, he is now using Charles Soludo to do his economic hit man job. Obasanjo wants to control Nigeria, thus, he is planning something different , and his attack dogs Ezekwesili and Soludo are at work again.

  • Bright

    If Soludo really knows his onions as he wants us to believe, how come the weight of public opinion is against him? Why did his own people refuse to gratify his desire to serve them as governor of Anambra state?

  • Rotimi Lawanson

    Sahara Reporters wrote on: Oct 04, 2010

    The police in Australia have been told how the Nigerian
    currency notes, the naira, were printed illegally by a firm in that
    country during the era of Prof. Chukwuma Soludo as the Central Bank
    Governor. Soludo was replaced last year by Lamido Sanusi.

    An Australian newspaper, The Age, reports that three former workers
    at The Reserve Bank of Australia’s currency firm, Securency, told the
    police that the firm produced millions of partly made Nigerian
    banknotes without authorisation from the Nigerian authorities, a
    practice former staff of the firm described as effective
    counterfeiting.

    The newspaper reports that the Australian Federal Police, AFP, have
    been investigating Securency for the past 17 months over its alleged
    bribery of foreign officials, including Nigerian and Vietnamese
    officials, to win contracts in these countries.

  • judey

    Excerpt: Saharareporters Exclusive: AFC/Soludo Scandal Probe-Full Panel Report

    In spite of the above explanations, the Committee is of the opinion that
    Prof. Soludo accepted the Chairmanship of the AFC Board in
    contravention of section 9 of the CBN Act which forbids him to hold such
    a position in a personal capacity. Even though he claimed to have held
    that position in an interim capacity, a perusal of the Minutes of the
    AFC Board Meeting of June 4, 2007 did not disclose this. Flowing from
    this action, we believe that his action contravenes Section 25 of the
    ICPC Act

  • Banji

    How does asking for an independent opinion on some statistics amount to falsification? Valid statistics should be able to withstand scrutiny. Soludo’s malicious accusations only serve to further prove that he has character issues.

  • Rotimi Lawanson

    EFCC Arrests Former CBN Governor
    Charles Soludo

    Saharareporters just learnt that
    officials of the Economic and Financial Crimes Commission this afternoon
    arrested immediate past Governor of the Central bank of Nigeria, Charles Soludo
    in connection with the Australian polymer banknotes bribery scam.

    BY SAHARAREPORTERS, NEW YORK
    THE REAL SOLUDO!

    JAN 10, 2013

    Saharareporters just learnt that officials of the Economic and Financial Crimes Commission this afternoon
    arrested immediate past Governor of the Central bank of Nigeria, Charles Soludo
    in connection with the Australian polymer banknotes bribery scam.

    
A close relative of Mr. Soludo confirmed to Saharareporters operatives picked up the former CBN governor in
    Abuja a few hours ago.

    A government source told Saharareporters that Mr. Soludo is facing interrogation by the EFCC at its
    Abuja office with regards to his role in the bribery of CBN officials by an
    Australian currency mint company, Securency.

    The source told our reporters about a dozen other
    CBN former and serving CBN officials have also been apprehended for questioning
    on the deal.
 EFCC spokesperson could not be reached for confirmation of
    the arrest.

  • Ikechukwu_67

    Like soludo, hate soludo, the question is this; Do we have all these trillions missing,appropriated and mismanaged or not? If someone is reeling out monies allegedly mismanaged from your business would you not ask questions?

    Please someone should tackle this aspect please….

    • Rotimi Lawanson

      Charles Soludo is turning himself into the disgrace of the Igbo Nation. Whenever, Obasanjo wants too fight the Igbos, he recruits an Igbo stooge to do the dirty job for him. When Obasanjo wanted to destroy Chris Ngige, he used Chris Uba. When he wanted to discredit GEJ over the Chibok girls, he used Oby Ezekwesili. Obasanjo now wants to get Okonjo Iweala to discredit GEJ globally, alas, he is now using Charles Soludo to do his economic hit man job. Obasanjo wants to control Nigeria, thus, he is planning something different , and his attack dogs Ezekwesili and Soludo are at work again. But they will all fail. haven’t you noticed that all these people are jobless!!!! Watch and see what God does!

      • Fake Lawanson

        Just one word to describe you – fraud!!

        • Fairgame

          Just one word to describe you – failure.

        • Rotimi Lawanson

          Mumu Olodo

          • Fake Lawanson

            Nwa biafra, stop masquerading as Rotimi Lawanson. Adopting a Yoruba name to deceive the unwitting is duplicitous at best. Don’t you think we all know by now that the only Ngo baby’s diehard fan and vociferous proponent on this forum is none other than the he-goat called @wahala?
            Continue dancing naked in the market square….Anuofia!!!

            This allegation is weighty– isin’t it?

            “By the way, can you tell Nigerians why you were eased out as Finance Minister and you cried like a baby begging OBJ to still allow you remain in the Economic Management team—- barely few weeks after the debt relief? Why were you eventually also removed from the economic management team if you were so important? Ironically, President Jonathan has recycled you, with a bigger title and greater responsibilities. But the difference is that the team that did the actual work is no longer there, and the world has seen that the king is naked”

      • AD

        Guy ur lost forever and you should be sorry for yourself

        • Fairgame

          You are a slave that does not want to be free so stay a slave forever.

          • Funso Ogunsanya

            You are Fairgame and Rotimi Lawanson @ the same time. Only a mad man talks and respond to himself.

      • Guguru

        Rotimi,

        Do you know that bus stop in Suru-lere called Lawanson bus-stop? I asked because those comments appear to be written by a tout and touts show up at bus stops. Your name just happened to be associated with a bus-stop. Can you clarify these?

        • Rotimi Lawanson

          Please let people judge between the two of us; My real name and your pseudonym Guguru, who is a tout! You obviously don’t like yourself. See pot calling kettle black. I dey laugh oo.

          • Guguru

            Okay, make you dey laugh.

    • Fairgame

      What shocks me is how someone can want a question answered and yet refuse to ask the right person who can answer his question. soludo should first start by telling us what happened to 5.7 trillion hole he left for another to clean up. Then how can he be directing a question meant for the minister of petroleum to Minsiter of finance? The only reason is because Soludo is doing Obj’s bidding and wants to pull OkonjoIweala down. I hear they all including Tinubu are afraid the petroleum woman will revoke their oil licenses should they attempt to ask her anything about NNPC so they all think OkonjoIweala is a soft target and that if they keep attacking her she will do their work for them. Cowards. The woman no get time for Soludo. Soludo should go and marry his wife after all when someone has failed woefully in the political space that is the only job left for him to do.

    • Omolola Ajayi

      God bless you.

  • judey

    Bank bribery arrest

    January 12, 2013

    NIGERIAN anti-corruption authorities this week arrested the former head of the country’s
    central bank on accusations of receiving bribes from Reserve Bank banknote
    subsidiary Securency.

    Investigators are yet to lay charges over suspected bribes in Nigeria but former central bank
    governor Charles Soludo was grilled for more than eight hours about a
    750million naira (about $A4.5 million) contract for polymer banknote materials
    awarded to Securency, and other dealings with the company from 2006, Nigerian newspaper The Nation said.

    Source: The Age of Australia

    • Sugar

      In my opinion, the focus should be on the message rather than the messenger. Soludo has made serious allegations buttressed with incontrovertible economic statics. I’ll like to see ‘Madam’ address the salient issues and leave the personality of Soludo out of it!

  • Ossy

    PDPigs again, you guys never make sense to me, like your Ogas at the top! you never acept criticism, the moment any one says ill about our dwindling economy, you start barking like mad dogs as if we cant be concerned again about what affects us as a nation. any government with the readyness to improve must acept criticism & not attacking who ever speaks on how we are bn governed, anyways very soon we shall be singing a new song after FEB-14. you wount have to fight anyone again! CHANGE is imminent

    • Fairgame

      BokoHaramits and Angry People’s congress will accept criticisms from the worst criminals just to support their hatred for Jonathan. Yes change is imminent as BokoHari cools his heels in Kirikiri maximum security prison the same cell where he kep Alex Ekwueme.

  • Rotimi Lawanson

    EL RUFAI ON SOLUDO: THE REAL SOLUDO!!!

    “Soludo’s article was spent blowing his trumpet
    of banking consolidation with his characteristic modesty! The dismissal of
    Charles’ over-hyped banking consolidation in The Accidental Public Servant
    therefore appeared to upset him more than anything else. He is still under the
    illusion that his ‘revolution’ changed our lives the way GSM licensing did! No
    one needs a single 234Next to see through the hype and the disingenuous
    comparison. Banks like First Bank, UBA, Union, Zenith IBTC, and GTB needed no
    consolidation. They had sound business models and were doing well without it.
    Soludo’s consolidation abolished investment banks and regional banks, while
    creating a few ‘big’ banks with funny names many of which were either comatose
    by 2009 or had to be subsequently saved by the Sanusi Lamido Sanusi rescue
    exercise. It is pathetic to measure the success of consolidation by the number
    of banks in the top 1,000 banks in the world. Did that ranking translate into
    increased lending to the real sector, greater employment opportunities for our
    people and intensified mobilization of savings in the way the GSM revolution
    did? No way, only massive margin loans to create a stock market bubble,
    engender insider lending and incestuous relations between regulators and
    operators in the industry.

    “The kind of targeted interventions needed to fill the gaps
    sustained by some of such policies were opposed by Soludo unless the ideas
    originated from him. As CBN governor, Charles did all he could to frustrate the
    attempts to establish a national mortgage system and was openly critical of
    Ngozi’s drive and contributions in getting the Paris Club debts written off for
    the simple reason that the the credit might go to others not Soludo!


    Charles is free to beat his chest and claim that the deformed
    baby called consolidation was a revolution, but today many of the the
    poster-children of the policy like Intercontinental, Oceanic, Finbank and
    Spring Bank are history, the banking-stockbroking rock stars are facing
    prosecution, and with N4 trillion spent to prevent the collapse of his
    revolution. When Charles’ memoirs are published, those that either witnessed it
    or had to clean up ‘the world’s fastest growing financial system’ will have
    their own views.”

    Nasir EL Rufai – Accidental Public Servant

  • Boma

    Soludo got it wrong on the oil stolen. The drop in production is not based on the stealing of 400,000bopd but the need to shut-in production to preserve the environment and repair the pipeline when there is incursion on the pipeline network. Soludo should get his facts right and not to use street discussions for analysis. How does Soludo explain the massive corruption in the Banking system that was revealed by Sanusi – we all know of the situation of Oceanic, Intercontinental etc. Under Soludo, the regulatory framework of the CBN was weak and Sanusi was the CBN Governor that brought sanity. Unfortunately he never gave credit to Sanusi.

    • Fairgame

      Soludo is so full of pride, so full of himself that any idea not from him is not worth acknowledging. He is just a frustrated man who has been brought in from the cold by his master Obj to go after OkonjoIweala. But they all already failed before they even started. He is lying here to deceive Nigerians but thankfully there are people like you who still see through his lies.

    • joe

      Boma, you have mortgaged your future for a few notes of the Naira.

  • Boma

    Soludo unfortunately the debate will not help your political ambition. Agreeing to making mistakes is a leadership quality and self praise will not serve you well. We all understand, you need to re-build your political life but not this way.

  • Rotimi Lawanson

    SOLUDO’s BANKING CONSOLIDATION IS A FRAUD – SANUSI LAMIDO SANUSI

    “The banking consolidation exercise carried out by the then governor of the central bank Prof. Charles Soludo has come under fire from the current CBN Governor Sanusi Lamido Sanusi who said the exercise was a sham and that many of the banks never raised the capital which they claimed they did.

    Sanusi in a 23-page convocation lecture titled, “The Nigerian Banking Industry: What Went Wrong and the Way Forward” he delivered at the Convocation Square of Bayero University Kano on Friday said the consolidation helped to create bigger banks while it failed to overcome the fundamental weakness in corporate governance in many banks.

    The governor said, “A lot of the capital supposedly raised by these so-called ‘mega-banks’ was fake capital financed from depositors’ funds. 30 per cent of the share capital of Intercontinental Bank was purchased with customer deposits. Afribank used depositors’ funds to purchase 80 per cent of its IPO. ”

    He added, “The CEO of Oceanic Bank controlled over 35 per cent of the bank through SPVs (Special Purpose Vehicles) borrowing customer deposits. The collapse of the capital market wiped out these customer deposits amounting to hundreds of billions of naira.”

    Sanusi also disclosed that while all the unethical practices were going on in the banking sector, the CBN which had a process of capital verification at the beginning of consolidation which was targeted at avoiding bubble capital stopped the check mechanism for unexplained reasons.

    He noted that SPVs furnished bank executives with a leeway to lend money to themselves for stock price manipulation or the purchase of estates all over the world. “One bank borrowed money and purchased private jets which we later discovered were registered in the name of the CEO’s son. In another bank the management set up 100 fake companies for the purpose of perpetrating fraud,” he said.

    He further said that some banks even engaged in manipulating their books by colluding with other banks to artificially enhance financial positions and therefore stock prices, adding that practices such as converting non-performing loans into commercial papers and bank acceptances and setting up off-balance sheet special purpose vehicles to hide losses were prevalent.

    According to the CBN boss, the unethical practices took place under the watchful eyes of the former Governor Soludo, whom he said conducted governance at the apex bank in a “laissez-faire” fashion. He said under Soludo’s reign, internal processes were unstructured and this compromised the CBN’s ability to supervise the industry. Board agendas were set by the governor and consequently reflected his priorities, and there were inadequate committee structures and processes to ensure the CBN board’s independence in assessing whether the CBN was fulfilling its mission. He also explained that of the 373 circulars issued by the CBN since 2008, only 44 addressed issues relating to the crisis, stressing that “none addressed the issue of corporate governance.

    • TRUTH MASTER

      All those who rushed to condemn SLS when he said $20b is missing are now rushing to quote him just to belittle Soludo. Two-face Janus, that’s what they are. History will not be kind to them!!

    • UNAFFECTED

      Your head wants to explode. You totally ignored the issues and continued with this PDP diversionary strategy of avoiding the issues and throwing out insults. Dispute the facts of both Soludo’s and Okonjo-Iweala’s letters or shut down your laptop and go to bed.

  • D.A

    My two cents here is I find this new article by Soludo as self defeating. The aim (it seemed) of his first article was to get the PDP and APC to address how they would finance their respective policies being promised to the Nigerian people within the economic constraints of the Nigerian economy. He satisfactorily got the APC and the PDP (despite all the abuse) to address those issues. I analysed both responses below

    http://pointblanknews[dot]com/pbn/articles-opinions/soludo-article-economic-response-fg-apc/

    Soludo is now asking NOI for a debate. Nobody wants to hear Soludo’s view on the economy as Soludo is not a spokesman for any party nor presidential candidate of any of the major parties running for election. Soludo has gone into the dirt and has successfully been diverted from the core benefit behind his initial essay. He has now given credence to the accusation that he is simply seeking relevance!!

    • cattle rancher

      Your opinion is wrong…

  • Rotimi Lawanson

    Please read below what Sanusi said about the megalomaniac Soludo:

    SOLUDO’s BANKING CONSOLIDATION IS A FRAUD – SANUSI LAMIDO SANUSI

    “The banking consolidation exercise carried out by the then governor of the central bank Prof. Charles Soludo has come under fire from the current CBN Governor Sanusi Lamido Sanusi who said the exercise was a sham and that many of the banks never raised the capital which they claimed they did.

    Sanusi in a 23-page convocation lecture titled, “The Nigerian Banking Industry: What Went Wrong and the Way Forward” he delivered at the Convocation Square of Bayero University Kano on Friday said the consolidation helped to create bigger banks while it failed to overcome the fundamental weakness in corporate governance in many banks.

    The governor said, “A lot of the capital supposedly raised by these so-called ‘mega-banks’ was fake capital financed from depositors’ funds. 30 per cent of the share capital of Intercontinental Bank was purchased with customer deposits. Afribank used depositors’ funds to purchase 80 per cent of its IPO. ”

    He added, “The CEO of Oceanic Bank controlled over 35 per cent of the bank through SPVs (Special Purpose Vehicles) borrowing customer deposits. The collapse of the capital market wiped out these customer deposits amounting to hundreds of billions of naira.”

    Sanusi also disclosed that while all the unethical practices were going on in the banking sector, the CBN which had a process of capital verification at the beginning of consolidation which was targeted at avoiding bubble capital stopped the check mechanism for unexplained reasons.

    He noted that SPVs furnished bank executives with a leeway to lend money to themselves for stock price manipulation or the purchase of estates all over the world. “One bank borrowed money and purchased private jets which we later discovered were registered in the name of the CEO’s son. In another bank the management set up 100 fake companies for the purpose of perpetrating fraud,” he said.

    He further said that some banks even engaged in manipulating their books by colluding with other banks to artificially enhance financial positions and therefore stock prices, adding that practices such as converting non-performing loans into commercial papers and bank acceptances and setting up off-balance sheet special purpose vehicles to hide losses were prevalent.

    According to the CBN boss, the unethical practices took place under the watchful eyes of the former Governor Soludo, whom he said conducted governance at the apex bank in a “laissez-faire” fashion. He said under Soludo’s reign, internal processes were unstructured and this compromised the CBN’s ability to supervise the industry. Board agendas were set by the governor and consequently reflected his priorities, and there were inadequate committee structures and processes to ensure the CBN board’s independence in assessing whether the CBN was fulfilling its mission. He also explained that of the 373 circulars issued by the CBN since 2008, only 44 addressed issues relating to the crisis, stressing that “none addressed the issue of corporate governance

  • Rotimi Lawanson

    As the Next newspaper – admittedly by no means a friend of Soludo’s – said in its lead story of March 15, the former CBN governor had developed too close a relationship with several top bankers for his role as their regulator.

    “Mr. Soludo,” Next said, “is seen as especially close to some of the most powerful bankers in the land. Those include Jim Ovia, the chief executive of Zenith, and Tony Elumelu, who runs UBA. Also close to the Central Bank governor are Cecilia Ibru of Oceanic Bank, and Erastus Akingbola of Intercontinental Bank, all of whom constitute the aristocracy that invariably supports Mr. Soludo at Bankers Committee meeting.”

    As Sanusi moves to disband this “aristocracy”, he should expect it to fight back. And fight back it already has started. Already it seems to be working hard to spread the word that Sanusi is only embarking on a sectional agenda to northernize the banking sector, never mind the fact that, contrary to media propaganda, few elite Northerners have anywhere as much money as their southern counterparts to be big players in the economy.

    Never mind also the fact, as Sanusi himself told Thisday penultimate Sunday, that “At age 8, I went to a Catholic boarding school. At age 10, I went to Kings College, Lagos. I have spent all my life in Lagos. I have never been associated with any regional agenda.”

    Of all the vicious rumours Sanusi’s apparent traducers are peddling hard, none sounds more ridiculous than the front page story of an obscure private Kaduna based weekly newspaper, with the improbable title of Freedom. “There are” the newspaper said in its edition of August 23-30, “revelations that the Central Bank of Nigeria CBN Governor, Sanusi Lamido Sanusi, was a leader and still a member of an Islamic fundamentalist group operating in Katsina some years ago. And si (sic) still keeping and funding it till date.”

    The CBN governor should expect worse especially since the media, as Next said in its August 16 edition, are nearly as guilty of tarnishing the integrity of banking as the bank aristocrats that are now in flight.

    As the newspaper said there has been a “largely incestuous relationship between top bankers and the media”, a relationship in which some newspapers instituted dubious awards to bankers for a fee and in which “a group of gangster financial journalists … routinely blackmailed and threatened some of these bank executives to do their biddings in return for regular spiking of damning articles.”

    Sanusi, I believe, has no skeletons in his cupboards that anyone may use to blackmail or threaten him. As long as those cupboards remain free from any skeletons he should know that he enjoys the goodwill of all well-meaning Nigerians to clean up after Soludo who, sadly, allowed his relationship with the banking aristocracy to soil his record of trying to make Nigeria an important player in the global financial sector.

    By Mohammed Haruna
    As culled from the DAILY TRUST.
    Meanwhile,

    Former chief executive officer of Oceanic bank plc, Mrs. Cecilia Ibru is now in the custody of the Economic and Financial Crimes Commission (EFCC) after she surrendered to EFCC officials at 2.45 PM Nigerian time.

    It was previously speculated that Mrs. Ibru had fled the country like her counterpart Erastus Akingbola of InterContinental bank. She was declared wanted by the agency, but while she was underground, she began a lawsuit that legal sources said gave her enough confidence to meet EFCC officials today.

    EFCC officials confirmed that Mrs. Ibru is currently undergoing interrogation at the Ikoyi office of the commission.

  • TRUTH MASTER

    ”He accused Mrs. Okonjo-Iweala of running the country’s economy aground.” This is the clincher! I have always believed that this woman will run Nigeria’s economy aground, because of her over-dependent on the Bretton Woods Institutions’ prescriptions. And now an economist of Soludo’s standing has said it. There is nothing more to add.

    • Saka

      If I may ask you, how did Soludo become a multi-billionaire overnight? How did he acquire houses in UK, USA and Canada? How did his brother-inlaw who is only 35 yrs old, and barely finished a degree program in Esut after 8 years there become a multi-millionaire overnight without any visible business enterprise? If can enlighten us on these questions perhaps I’ll start listening to what Soludo says.

      • TRUTH MASTER

        Words are cheap. I don’t take such accusations seriously. If you have any solid information to show that Soludo is corrupt, as you insinuated, please pass such to the EFCC or ICPC. Please don’t use that to distort this debate. Okonjo-Iweala has run the Nigerian economy aground. Period

  • Okey

    Any one who had not expected a more vicious fight-back from Prof. Charles Chukwuma Soludo to the response Jonathan’s administration made to his (Soludo) “exploratory consultancy” missives would be highly mistaken. Soludo’s fight-back is much within expectation. Rather what was not within contemplation was the likelihood of Soludo owning up to a mercenary brief and mission, now ably revealed by him as the very aim, object and essence of his exploratory brief. Hear Soludo in his fight-back: “What name has the government not called President Obasanjo or any person who has dared to disagree with it of late?” Again, see mischief writ large: “Jonathan come and have a debate with on the economy me by 12th February, 2015.”

    While Soludo is entitled to his brief and journey but as a Nigerian, a little bit knowledgeable of Soludo’s odyssey, including denial of him the opportunity to be Governor of Anambra State by those whose errand Soludo has now undertaken, I have a duty to say again:

    Charles Chukwuma Soludo convinces me beyond all manner of doubts, that the average Nigerian elite is motivated only by PERSONAL INTEREST. To him, the much touted “National Interest” is a facade, a make-up to gain applause for relevance.

    Prof., without much ado, the summary of this your syndicated piece is quite discernible, the subterfuge of your first paragraph notwithstanding. Which summary is: Jonathan, the worst man; his administration the worst ever. Buhari, very much unknown to you, this Jonathan man has left a mountainous problem for you to clear but I, Soludo, is the best guy to assist you in clearing the mess.

    But I assure Chukwuma Soludo one thing: It is doubtful if he can EVER AGAIN impress or make meaning to his intended audience. For to them, Charles Chukwuma Soludo has committed the “Alex Ekwueme Harakiri.”

    Recall, Dr Alex Ekwueme had gone to Abacha’s National Conference wherein he advocated for “Rotational Presidency” as between the North and South and amongst the six (6) geo-political zones. The North, in particular people of the North-West, regarded that proposition by Alex Ekwueme as a direct attack against the North. How that was/is, is still a puzzle to those of us who genuinely desire the longevity of this nation vide justice and equality of citizens and opportunity. Alex Ekwueme was to be punished severely when during the 1999 PDP Jos presidential primaries, Northern leaders and their hirelings in Nigeria ensured that Ekwueme lost. He was to come again in 2003. Arewa Peoples Congress (APC) commissioned a study and report on “Between Obasanjo and Ekwueme, who the North Should Support.” What’s the outcome ? The outcome was instructive as it said in sum: Though Obasanjo has not performed, the North is still advised to go ahead with him instead of Alex Ekwueme.

    Why that long history ? The North says Charles Chukwuma Soludo dealt them a mortal blow. That when he carried out the recapitalization program, 25 banks survived. That of the 25, 13 had Yorubas as controlling shareholders whilst Igbos control 11, leaving the North with only one (1), Unity Bank. Without being reminded, the process that led to the privatization of the banks was very transparent as the banks were capitalized through the interests and funds of shares-purchasers, who happened to be mostly Southerners.That citizens from a section of the country did not show commensurate enthusiasm was no making of Soludo. But the North held him liable for that. Soludo’s “culpability” manifested when time came for the renewal of his tenure. Despite willingness of President Yar’Adua to tenure renewal which he had personally promised Soludo, some Northern elders insisted and ensured that Yar’Adua never renewed the tenure.

    No doubt, Jonathan’s unforgivable offence against Soludo was committed when Soludo vied for the governorship of Anambra State. (I could now remember myself then making strident, unrelenting calls on Thisday newspaper online – as I did on his second attempt – for a wholesale welcome of Soludo’s candidature, warning that Anambra and indeed Ndigbo will miss their way and suffer a dire consequence if Soludo was not given a prime place-role via Anambra State – to the point that many thought Prof. Charles Chukwuma Soludo had commissioned me for that. The fact being and remaining that, for me, that is not possible. Second, I don’t know him, he doesn’t know me either and I am not even from the same State). By that time, Jonathan was still “a good boy” to the Ota man. And the Ota instruction came that “Charles be stopped” because Charles posed a stumbling-block to “the ‘anointed son’ from Anambra.” Jonathan carried that instruction to the letter. In the result, both Soludo and the anointed son lost to Peter Obi. Perhaps for a pound of flesh, Soludo was latter to identify with Atikiu Abubakar in the PDP 2011 primaries against Jonathan.

    Now, Soludo, in obvious journey to protecting his personal interest, just like his fellow Nigerian elites, has undertaken the “Last Push” by joining in the “Operation Stop Jonathan.” My prayer for Soludo is: may you not in the end be found to have committed the “Alex Ekwueme Harakiri” !

  • UNAFFECTED

    Oil sold at above $100 between January 2010 and Sept 2014 when the price fell below $100. Jonathan’s excuse was that 400000 barrels was stolen everyday (mind you that is one problem he is not able to fix). What about the remaining 1.48m barrels (approximately 2.8 billion barrels in 5 years)? Why didn’t both the external reserve and excess crude account grow correspondingly to oil sold? Why is Jonathan diverting attention from this? Why is Jonathan proposing a $65 benchmark in the 2015 budget when oil is selling at less than $50 a barrel? Which means he would have to borrow to make up the balance and even fund a supplementary budget later. I wonder how a government can be losing 400000 barrels of oil everyday and still afford to go to bed and have a sound sleep. Which manner of governance is this? It is either Jonathan is too ignorant of economic principles or just doesn’t give a damn so long he has the title of president attached to his name while Okonjo-Iweala keeps running the economy aground. Do people still remember the reason given for the increase petrol pump price? Jonathan said the fuel subsidy had to be removed because “We cannot continue to waste resources meant for a greater number of Nigerians to subsidise the affluent middle class, who are the main beneficiaries.” Excuses.

    • Rotimi Lawanson

      EL RUFAI ON SOLUDO’s JEALOUSY TOWARDS OKONJO-IWEALA

      “The kind of targeted interventions needed to fill the gaps
      sustained by some of such policies were opposed by Soludo unless the ideas
      originated from him. As CBN governor, Charles did all he could to frustrate the
      attempts to establish a national mortgage system and was openly critical of
      Ngozi’s drive and contributions in getting the Paris Club debts written off for
      the simple reason that the the credit might go to others not Soludo!”

      • UNAFFECTED

        I am not going to do this nonsense with you because it is obvious that you have a supervisor telling you what to copy and paste as a form of response. The house is on fire and you are busy chasing rats. Let’s debate the letters from both Iweala and Soludo but it seems you can’t do that.

  • AlwayZz

    If the commentators here on this subject is representing the Nigerian youth, then the future looks uncertain. What is the state of Nigeria economy under madam CME? Have we felt better with her economic policies? These are some of the issues not attacking the person of the prof! Decorum pls!

  • Intrepid

    I smell Obj’s body odour via Soludo. Johnathan, tell your strategists to begin planting their own decoy along the path of the enemy. They will never catch you, God is with you.

  • Alcindo Satori

    The response from Soludo! As expected. While I applaud all of Soludo’s achievements, I truly wonder why his tenure wasn’t renewed. Gosh, for someone who did so much for Nigeria — taking us to such high levels — to get shoved aside like that? Now that sounds real fishy.

  • tyson

    On coming to power, Umaru Yar’adua set up a panel to look into Soludo’s activities at the AFC. Our sources in Aso Rock disclosed that Soludo was marked for prosecution, but that he staved off his indictment and trial by bribing several political players, including Yar’adua’s wife, Turai, and Attorney General Michael Aondoakaa. Soludo handed $2 million to the Aondoakaa who was given the responsibility of issuing a white paper on the investigation of AFC. He also funneled $4 million to Hajia Turai Yar’adua, a woman who has established a reputation as the most corrupt “First Lady” in history. In addition, Soludo secured the support of the Saraki family when he restored the banking license of Societe Generale Bank of Nigeria (SGBN). He pried open an illicit discount window to help former Governor James Ibori’s front companies – Notore Chemicals and Wilbros/ Ascot – to keep defaulting on toxic loans in both Oceanic and Intercontinental banks.

    Aondoakaa, Soludo and Ekwueme

    To further cover up his sordid financial deals, Soludo got AFC CEO, Austin Ometoruwa, to take the fall on his behalf. For his troubles, Ometoruwa was given a generous exit package. Even so, Ometoruwa was to run into trouble with the London Metropolitan police when he was caught with a huge cache of cash. Metropolitan police sources told Saharareporters that Soludo’s signature was all over the money.

Soludo’s AFC was not immune from the banking crisis that he helped create. The CBN recently listed his AFC as owing 32 billion in non-performing loans.
 
Soludo’s indifference to the banking crisis he created underscores the general feeling amongst Nigerians that the so-called banking reforms might just be a smoke screen by the non-performing Yar’adua regime to hoodwink Nigerians into believing that his regime intends to end the era of impunity in banking sector.

    Soludo’s so-called retirement party tonight is seen as part of the former CBN governor’s effort to checkmate recent moves by former presidential aide, Emmanuel Nnamdi (Andy) Uba to secure Yar’adua’s nod to become the PDP candidate for the Anambra governorship election.

    • tyson

      Is this the type man that the government should trouble its soul in responding to—? Ignore him—-He is not worth it-The more u respond to him the more u make him become popular–this is a man who attempted borrow ideas from Ghana.. and presented them as his-The same monetary policies that Ghana foolishly introduced is what has killed her economy today—-now talking about obj thank letter to him if LATE YARADUA TRUSTED HIM SO MUCH THEN WHY DID HE SET UP A BODY TO PROBE HIM? WAS THIS NOT THE SAME MAN WHO WHO SOLD ALMOST ALL THE GOVERNMENT PROPERTIES ABROAD–IN places like LONDON AND NEW YORK?–SOLD OFF THE APO LEGIOSLATOR QUARTERS—CIVIL SERVANTS QUARTERS–I BEGI

  • Krugged

    Soludo has opened the proverbial Pandora’s box. As CBN governor, he made a lot of mistakes but compared to NOI, he did a comparatively better job.

    The knives are out. I have read the whole article and there is no way GEJ can survive this. He has taken the GEJ government and his team of self-serving buffoons to the cleaners.

    It is over for Jonathan. #Jonadaft Must Go!!

    • hummm

      Oh, you needed the Soludo response to convince you? It was no brainer that this adminstration was a lost cause long time ago.

  • Georgy

    Silly comment? Yet your response clearly confirms my point. Igbos truly are their own worst enemies. We spend trillions of naira developing other states in the north and south west, yet we abandon our own, so Obsy, you merely confirm my point!!! Given us Biafra and we would have pooled our resources from these states to develop ours. Notwithstanding, I believe in the project called Nigeria!

  • hummm

    Thanks for schooling that woman. She needs to return to world bak to push all that damn adminstrative paper. Your eloquent response was well deserving to a moron like her. Harvard and world bank experience doesnt mean she is smart. Rather she has demonstrated to be an incomptent imbecile, KUDOS BRO.

  • tyson

    On the heels of an opulent party in Enugu to celebrate his exit from the Central Bank, former CBN governor Charles Soludo – under whose watch and connivance the Nigerian banking industry came to the brink of collapse – is set for another round of celebration tonight, this time in Abuja.

A source close to Soludo, a former professor of economics at the University of Nigeria at Nsukka, told Saharareporters that tonight’s Abuja party was meant to launch Soludo’s bid to become governor of Anambra State. A gubernatorial election is scheduled to hold in the state next February.

    Saharareporters obtained a special text invitation personally sent out by Soludo to a small group of people, most of them Nigerians with shady pasts or ties to Soludo during his tenure as CBN governor. The text read: “Please join me at a reception dinner in my honour organized by a committee of friends (Signed by Dr. Ekwueme; Chief Anenih; Alhaji Mangal) on my completion of tenure as CBN Gov. on Wed. Sept. 9th 2009 at Transcorp Hilton, Abuja (Lagos Hall) by 7:30 pm prompt. Soludo.”

As Nigeria’s Central Bank Governor, Soludo was chiefly responsible for creating and deepening the now endemic and prolonged rot in the banking sector. Saharareporters had detailed his shenanigans at the helm of CBN. He created a bogey fund known as Africa Finance Corporation (AFC) through which he engaged in questionable practices, including printing monies that he then shared between major banks, among them Oceanic Bank and the United Bank for Africa.

  • Obiefule

    The question is why was she eased out by OBJ after negotiating for the forgiveness of Nigerian debt by the world bank Inquiry minds want know.

    • Ayelala

      Did you read the article? Obasanjo negotiated his own debt relief. He only handed the paper work to soludo, iweala and others.
      While at it , obasanjo also won the visa bonanza , which was used by millions of Nigerians, to escape the hell of a country.

      • Fairgame

        They will all keep trying to rewrite history but they will all fail. We knw who it wS that negotiated the debt relief. The international community knows who it was that negotiated debt relief. So le Soludo keep trying to rewrite history for his master Obj whose expertise is in pulling others down, his end is near.

      • Rotimi Lawanson

        Ayelaja, you must be a joker. When Baba flew around during his first term trying to get help did he get anything? Wasn’t it when she came on stream the second term and started working so hard to ensure Nigeria had debt relief flying around that it was actually got. Please read an excerpt below from EL Rufai’s book on Soludo.

        Nasir EL Rufai on Soludo and Debt Relief:

        “The kind of targeted interventions needed to fill the gaps
        sustained by some of such policies were opposed by Soludo unless the ideas
        originated from him. As CBN governor, Charles did all he could to frustrate the
        attempts to establish a national mortgage system and was openly critical of
        Ngozi’s drive and contributions in getting the Paris Club debts written off for
        the simple reason that the the credit might go to others not Soludo!

    • Fairgame

      After negotiating the debt relief, Obj became very hateful about the praise the international community was heaping in OkonjpIweala including the comments Clinton made when he visited. His jealousy of this who work under him is legendary. He Laos wanted access to the coffers to get money to prosecute his third term agenda. So working with the elements within the administration that had be comes diseased with jealosy, he moved her to foreign affairs as a first step to humiliating her, but OkonjoIweala being led by God struck first by resigning from his government. That was a humiliation for Obasanjo and since then it has been his dream to pull her down, a dream he will die with because the one on whose side God is is majority. Let them all gather but because their gathering is not of God, they will surely scatter. I dey laugh. I love when God shows up and we will see it play out with our eyes.

  • Alcindo Satori

    Only in Nigeria will you find a former Central Bank Governor using ‘Lol’ in such an ‘important’ writeup! And what’s the thing about how many times Obama ran for office before getting there? What is Soludo smoking?

  • King Romeo

    Soludo is a misguided criminal who should have been in jail. Ask Sanusi about the attrocities he committed in office. He wanted to govern Anambra State so as buy immunity from prosecution. He is trying to buy relevance by doing a hatchet job. He feel embittered that he was trounced in the election where his people’s rejection almost made him insane.

  • Thepeople

    I do not know Soludo, lets be mature, intelligent and progressive in this debate. Discuss issues and not insults. If your opinion is not more than an insult, then you are losing the debate. This is future of our country.

    • Fairgame

      There is nothing he has written that is worth debating. When Fashola wrote on the back of Thisday about fuel price reduction, OkonjoIweala personally responded to him. You can still read that. The debate here is supposedly between a man lying with numbers to do the bidding of his master Obj who has been wanting to rewrite history about debt relief and a woman who does not have time to engage their warped minds. To begin with half the article is littered with Soludo praising himself yet we know he left a 5.7 trillion naira hole, then he asks OkonjoIweala about NNPC alleged 20 billion dollars and not the minister of petroleum why? He wants to score cheap political points and all aimed at ingratiating himself with the opposition political party because he wants a job if they win which will never happen. He is doing the hatchet man’s job. I will say to OkonjoIweala to ignore the ignoble utterly rejected Soludo who is suffering from bitterness and possibly depression. No time for him.

      • Thepeople

        I wonder why Okonji Iweala ordered the forensic audit of acounts into the missing 20 billion dollars, the report which Soludo and other Nigerians are still waiting for, she is not NNPC and you believe she has nothing to answer for. She has everything to answer for because it all has to do with Nigerian finance. It is simple. Lets be intelligent and logical about this debate. No insults please. Insults makes you look less broad minded, and shows you are losing the argument.

        • Rotimi Lawanson

          Please understand our constitution and how these things work. If you studied accounting and auditing, you will know that as an interested party she cannot preside over an audit report. You yourself indicated here that it also has to do with Finance even though it is an NNPC affair. So how can she preside over a report where she is also being interviewed by the auditors PWC? The simple truth is that Price WaterHouse Coopers is currently conducting an audit. They initially said they will release the report in November. They have now requested more time from what my friends at PWC tell me. When the report is ready, they will hand it to the Auditor General of Nigeria and not Ngozi Okonjo Iweala. The Auditor General will release the report. Please stop listening to useless APC propaganda.

          • Amir

            Mercurial lair. The report has been handed to the government since November. Because it indicted the government of gross incompetence, they withheld it.

          • Fairgame

            So if you were the government rather than debate on national tv with your opponent you will release a report? And how did you get the information that you are accusing someone else fo lying? Did PWC tell you that they had handed the report to the government? That is how you run around stating figments of your imagination as fact. Ask Buhari to release his certificate and go for the presidential debate rather than jumping around here spewing your hatred infused trash.

        • Charles owolabi

          Fair game please read my response below on the claim by Sanusi Lamido Sanusi that 57 billion Usd then 48 billion then another down ward review that 12.4 billion was missing and finally that 20 billion dollars was missing. Why adopt the 20 billion why not 57 billion the bigger the better is it not?
          The reason for the lack of clarity in the part of Sanusi is that he failed to understand the reason for the differences in numbers. He lacked the experience and training to understand why there were differences in the numbers he had and that of NNPC. He quickly rushed out and put out false information before confirming through proper auditing processes why the difference existed. Unfortunate. This is what happens when individuals skip basic processes because of ethnicity. This is what happens when objectivity is thrown out of the wind in order to cover ones ass. Sanusi still has a case to answer for the reckless spending and missing funds at CBN. Please don’t take the words of a man who was found to have committed gross violations by an audit done by the financial reporting council of Nigeria in 2012
          I am an auditor who has worked extensively with CBN
          Any accountant worth his weight in salt would have come across the term flowing or fluid accounting processes.
          If Sanusi understood this he would have kept his mouth shut and sought advice
          Please read my comments below to others then we can and truly have a productive discussion.
          Madam Ngozi is a true professional and has taken the right steps in this regard.
          I have read through the professor Soludos comments he would at best be a teaching assistant in a good Ivy League school here in the states. Why is he so fixated on exchange rates under a flexible exchange rate regime . I truly would like to debate this 2nd grade professor who I am sure has had limited exposure.
          This fellow fails to understand the relation ship between the creation of a mortgage institution and the development of a sound economic and financial system
          He certainly does not under stand what the Minister has done by setting up a mortgage refinancing company along with a development bank
          He dismisses the world bank an institution at the heart of global finance and simply plays to the gallery by saying Nigerian banks can do it all. This fellow is the biggest joker on plant earth.
          Nigerian banks are totally dependent on foreign lines of credit and GDRs raised in the international financial system. Without them this import dependent country would be on its knees.
          Does he know what Nigeria needs on Power alone not to talk about infastructure.
          However Nigerian like such utter nonsense based on phony statistics.
          I would ask that you read my comments below it clearly addresses you concerns
          We have a deep problem in Nigeria if these are the kind of professors we have.
          Let’s keep it real
          No one should be deceived by professor Soludos article. It is fully of utter nonsense.
          Kindly read my response below and formulate your openion there after.
          It is dangerous if someone does not know something and pretends to be master know it all
          That is what you find in this local professor – he suffers from limited knowledge and pretends to be a global player.
          Ibos always proud always boasting can’t keep their mouths shut
          Ibos would kill them selves that is why they can’t lead Nigeria despite the huge talent in that ethnic nationality
          Sad

          • solozo

            Let me get this correctly, you as auditor engaged by CBN knows better than Soludo and Sanisu put together? Two of our CBN Governors are so wrong, they don’t know jack or they are inexperienced as compared to you. And you are what again sir? The Professor of the school these two graduated from? We should take your word that both these guys are wrong and you are right? Why? They had institutional authority and for ignorant like me, they even have intellectual authority. What is your own authority again? Please clarify.

      • kwazulu

        Ignore talks about Nigeria economy? am gobsmacked!

  • Rotimi Lawanson

    EFCC Arrests Former CBN Governor
    Charles Soludo

    Saharareporters just learnt that
    officials of the Economic and Financial Crimes Commission this afternoon
    arrested immediate past Governor of the Central bank of Nigeria, Charles Soludo
    in connection with the Australian polymer banknotes bribery scam.

    BY SAHARAREPORTERS, NEW YORK

    JAN 10, 2013

    Saharareporters just learnt that
    officials of the Economic and Financial Crimes Commission this afternoon
    arrested immediate past Governor of the Central bank of Nigeria, Charles Soludo
    in connection with the Australian polymer banknotes bribery scam.

    
A close relative of Mr. Soludo
    confirmed to Saharareporters operatives picked up the former CBN governor in
    Abuja a few hours ago.

    A government source told
    Saharareporters that Mr. Soludo is facing interrogation by the EFCC at its
    Abuja office with regards to his role in the bribery of CBN officials by an
    Australian currency mint company, Securency.

    The source told our reporters about a dozen other
    CBN former and serving CBN officials have also been apprehended for questioning
    on the deal.
 EFCC spokesperson could not be reached for confirmation of
    the arrest.

  • Rotimi Lawanson

    Please read below EL Rufai’s DESCRIPTION OF SOLUDO:

    INTRODUCTION
    Charles presented his jaundiced interpretations of what I
    wrote in clear language as my views in his piece. For instance, there was
    nowhere in the book that I wrote that ‘Ngozi was power hungry.’ She was
    pragmatic and realistic about power relations. How does that equate to being
    power hungry? Charles is playing with words in a patently dishonest way

    In the book, I wrote that Charles did many things to
    ingratiate himself to Obasanjo, one of which was to attribute every good ‘idea’
    to the latter; not actual achievements, since there were few in the early days.
    Charles’ response was to misrepresent what was written, just as he knows that
    there is no weight to the claim that appointees under a presidential system
    cannot claim credit for their work.

    ON CONSOLIDATION

    The rest of Soludo’s article was spent blowing his trumpet
    of banking consolidation with his characteristic modesty! The dismissal of
    Charles’ over-hyped banking consolidation in The Accidental Public Servant
    therefore appeared to upset him more than anything else. He is still under the
    illusion that his ‘revolution’ changed our lives the way GSM licensing did! No
    one needs a single 234Next to see through the hype and the disingenuous
    comparison. Banks like First Bank, UBA, Union, Zenith IBTC, and GTB needed no
    consolidation. They had sound business models and were doing well without it.
    Soludo’s consolidation abolished investment banks and regional banks, while
    creating a few ‘big’ banks with funny names many of which were either comatose
    by 2009 or had to be subsequently saved by the Sanusi Lamido Sanusi rescue
    exercise. It is pathetic to measure the success of consolidation by the number
    of banks in the top 1,000 banks in the world. Did that ranking translate into
    increased lending to the real sector, greater employment opportunities for our
    people and intensified mobilization of savings in the way the GSM revolution
    did? No way, only massive margin loans to create a stock market bubble,
    engender insider lending and incestuous relations between regulators and
    operators in the industry.

    ON HIS JEALOUSY TOWARDS NGOZI OKONJO IWEALA

    “The kind of targeted interventions needed to fill the gaps
    sustained by some of such policies were opposed by Soludo unless the ideas
    originated from him. As CBN governor, Charles did all he could to frustrate the
    attempts to establish a national mortgage system and was openly critical of
    Ngozi’s drive and contributions in getting the Paris Club debts written off for
    the simple reason that the the credit might go to others not Soludo!


    CONCLUSION

    Charles is free to beat his chest and claim that the deformed
    baby called consolidation was a revolution, but today many of the the
    poster-children of the policy like Intercontinental, Oceanic, Finbank and
    Spring Bank are history, the banking-stockbroking rock stars are facing
    prosecution, and with N4 trillion spent to prevent the collapse of his
    revolution. When Charles’ memoirs are published, those that either witnessed it
    or had to clean up ‘the world’s fastest growing financial system’ will have
    their own views.”
    Nasir El Rufai – Accidental Public Servant

  • Chidi Ngoka

    Clearly the renowned professor has gone round the bend . He needs help !!! Friends and Family should quickly go and assist him before he embarrasses himself any further. I am serious he cannot possibly be well.

    • paul

      You are an imbecile. ..am serious…you are intellectually disabled…only a handicapped mind would not appreciate Soludo’s transcendental grasp of macroeconomics, besides his genuine patriotism…I am not a politician, but I look back on 2004 to 20007 with nostalgia..those were golden years.
      I look forward to Nigeriau’s renaissance.

      • Fairgame

        Yes indeed genuine patriotism. That led him to EFCC for bribery and embezzlement. You are so deceived that you need deliverance.

      • Chidi Ngoka

        You are really upset please go back to Nursery school and learn how to communicate on social media .Clearly you missed that topic in whatever institution you attended.

  • Ossy

    Do you people think you are winning grounds for clueless GEJ by attacking Soludo’s personality? i espected us as youths we engage in meaninful dialogue here based on the salient points raised in these acusation & counter acusation, i could not believe it when i saw someone asking why the question of the alleged missing $20b NNPC fund be directed to a minister of finance (shear ignorance), is thi how low our sentiments hos brought us? i sugest we face the truth & not insult people who have served this country in their own capacity, instead see how all these issues affect us as apeople cus in the end we are the onse effected. is this how we see ourselfs becoming leaders of tomorrow? C’mon we can do better guys.

    • Fairgame

      What nonsense are you talking about? The constitution gives the NNPC and ministry of petroleum powers to operate their oil licenses before paying the amount left after net deductions for their operations to the CBN. How is it them that the is an issue with that and it is not the ministry of petroleum being asked if not that 2 weeks to the election Soludo is applying for a job hoping that the opposition will win? In one single breath he has asked powers only military dictators can have ( no wonder his support for fraudulent Buhari) to the minister of finance even though we are in a democracy? She is responsible for the oil pipelines being vandaliEd leading to production shut in, she is also the navy responsible for patrolling our territorial waters and at the same time lest I forget she is the one who crushed crude oil prices and is the one to stabilize crude oil prizes! If that is not the ranting of a man in dire need of psychiatric evaluation, I dont know what is. Adding his futile attempt to rewrite history and give debt relief credit to his master, Obj, the man that he is a puppet for, one can only say Soludo has gone mad again. His first outing as a mad man left 5.7 trillion naira hole. And this is in addition to his case with EFCC for bribery and embezzlement. One thing he has not said here which is correct, perhaps the only correct thing is that Ngozi OkonjoIweala is not a thief like he is.

  • solozo

    I am not an economist and have never understood these things. But I recognize it when someone lays a solid foundation for the authority he arrogates to himself. Soludo’s profile shouts authority as far as I can see. That means what the man has said cannot be swept under the carpet. Just as they responded the first time, I hope they will respond again -or better still, take up his challenge to debate. I am loving Feb14 2015. For once, Nigerians are getting to know all the dirty stuff that have been hidden from us. If I do not understand anything else in this debate, I understand that standard of living is not better under this government. I also understand that we have no reserves as a country. If these are signs of good economic management, can someone please say so and explain how to me? Thanks in advance

  • Chidi Ngoka

    Soludo if he claims he was unaware of grave insider abuse during the recapitalization exercise that made then vulnerable to external shocks, then he is either delusional or grossly incompetent. Let the finance Minister not dignify this tirade with an answer . If Soludo is sure of any missing trillions then like a Nigerian Citizen he should petition the anti-corruption agencies to investigate . This tirade is childish and self serving. Soludo should move on. Despite his intelligence why is this discourse coming up now two weeks to the elections if their is no political motivation.. I wonder why all this knowledge was not made available to the Government in an advisory capacity since he knows everybody in Government . I am truly disappointed this is not the way a Central Banker addresses issues . He has proven the Yar’adua administration was right not to renew his tenor.

  • ADEYANJU

    Awolowo used cocoa to make impact in d
    SW, Azikiwe used coal in d SE, Balewa used
    G/nut pyramid in d North, GEJ used oil to
    make militants

    • Fairgame

      Hypocrisy speaking. Lead a match in your state and ask the governor to start rejecting their monthly allocations so GEJ’s people can at least keep their oil. In one breath the SW will shout restructuring of Nigeria and in another breath they support a muslim Hausa Fulani illiterate ex general to maintain the status quo of stealing oil from the Niger delta between the muslim Hausa fulani and their south west collaborators. Your end is near. Nigeria is breaking into its dawn.

      • Okikiola Beckley

        Lagos State makes N22b monthly IGR and less than N3b from federal allocation.

        • Okey

          50% of it goes to Jagaban through Alfa Beta. in real terms only less than N11 Billion remains for the people.

          • Tope Adebosin

            Lies!!! What do one expect from Okonjo advocates? Lies like she does.

          • Fairgame

            i dey pain you well well. May the pain continue and become unbearable. And may you live to see her rise to the heights God is taking her when he makes a table for her in the presence of her enemies. Enemies are important for that purpose.

    • Tope Adebosin

      Exactly!! That’s what gej has achieved. Ride on prof I respect your analysis, achievement and maturity. Someone please tell okonjo “madam” to release the forensic results on the missing 20B USD, abi dem still dey doctor am? She said 3 months. My view is that she has failed woefully. She should resign honourably

  • Fairgame

    What nonsense are you talking about? The constitution gives the NNPC and ministry of petroleum powers to operate their oil licenses before paying the amount left after net deductions for their operations to the CBN. How is it them that when their is an issue with the NNPC, it is not the ministry of petroleum being asked. The only conclusion then is that 2 weeks to the election Soludo is applying for a job hoping that the opposition will win. An audit was commissioned by the auditor general whose responsibility it is to release the report when and if the report is ready. The fact that OkonjoIweala asked for an audit to ascertain what Sanusis was alleging having changed figures four times : 49.8 billion, 12bilion, 10.8bilion and finally 20billion, is it a crime? That is what any responsible minister of finace who has no constitutional powers over other ministries should call for. Even Femi Falana said the ministry of finance has no constitutional powers to audit another ministry. In one single breath Soludo has ascribed powers only military dictators can have ( no wonder his support for fraudulent Buhari) to the minister of finance even though we are in a democracy. In his warped and bitter, jealousy driven mind, She is responsible for the oil pipelines being vandalized leading to production shut ins, she is also the navy responsible for patrolling our territorial waters to make sure crude isn’t stolen and at the same time lest I forget she is the one who crushed crude oil prices and is the one to stabilize crude oil prizes! If that is not the ranting of a man in dire need of psychiatric evaluation, I dont know what is. Adding to this his futile attempt to rewrite history and give debt relief credit to his master, Obj, the man that he is a puppet for, one can only say Soludo has gone mad again. His first outing as a mad man left 5.7 trillion naira hole. And this is in addition to his case with EFCC for bribery and embezzlement. One thing he has not said here which is correct, perhaps the only correct thing is that Ngozi OkonjoIweala is not a thief like he is.

    • Tope Adebosin

      Take the message not the messenger! I don’t seem to understand what you are putting across. Are you saying our economy is better now than 6 yrs ago? Are you saying that this govt is not grossly and recklessly corrupt? I don’t understand you

      • Okey

        not possible

      • Fairgame

        I am saying that we have made more progress in Nigeria than six years ago, I am saying that democracy is at work that is why you can speak freely without getting killed and that is why political assassination have been absent but were highest under Obasanjo, I am also saying that if OkonjoIweala has not saved in the ECA and shared the money as governors like Amaechi had insisted as their constitutional right, Nigeria would have been worse off, actually crumbled by now which was always their plan but God through OkonjoIweala resisted their share the money now mentality. I am saying that Soludo is not a messenger but a job seeker who lies to appease his master Obj. I am also saying that if Soludo was an inch interested in Nigeria he could have asked the governors to withdraw their suit against the federal government for daring to save money in the ECA. So I am saying a lot. The message is totally flawed because the messenger is a liar. That is just half of what I am saying.

        • Truth Hurts

          I now know you are Wendell Simlin A.K.A Reno Omos.
          The vigour you are deploying to defend this economy with mumbo jumbo statistics is interesting. And you are connecting your falsehood with ministerial lexicon. That shows that you are an insider at Aso Villa.
          The problem is that you have refused to match SOLUDO’s factual economics with your ‘MADAMS’ ‘lie-infested IMF/WORLD BANK heist’
          I know for sure that ‘MADAM’acknowledged that 10.8 billion was unaccounted for, so my question and that of many Nigerians is:
          WHERE IS THE UNACCOUNTED 10.8 BILLION USD that ‘MADAM’ ACKNOWLEDGED!!!!
          Tell us now!!??/!!!

        • Upright

          Fair game, you and others on this thread are footsoldiersof GEJ and Madam Iweala, I wonder if it isn’t madam Iweala herself making these defenses. Solid pointed to facts, you are here name calling and talking about freedom of speech. Wake up! You are not fooling anyone.

        • Tunde

          You are like so many have met……with set minds and rigidity in perspective. Thanks to fact and datas, it would have been a painful attempt trying to correct people like you from misinforming others! Your misinforming others. How dare you say we are better now than we were 6 years ago, really? Your just made sure i wont waste any of my energy on you! Thanks. But i do hope you wake up from your slumber and stop deceiving urself. Iweala has done pretty bad but i do say its all within the overall government framework (i.e PDP)! There is no basis whatsoever for justifying this woeful performance

    • Tope Adebosin

      Sanusi said 49b okonjo said 10b reconciliation said 20b, what is so called “forensic” saying? Nothing!!!! . She lacks integrity plssssssss

  • Okey

    Prof. Soludo, looking around Nigeria in relation to your present brief, I thought of penning down: “CHUKWUMA SOLUDO, DANCING TO THE DRUMBEAT OF DEBAUCHERY,” but had to drop in consideration of the inherent and obvious contradiction I will now make of yourself and myself given that whilst I was campaigning for you to be Governor of Anambra State, one of the things I told my readers was, “There are not up to five (5) Chukwuma Soludos in Nigeria.” In heated debates with my Anambra friends, I insisted “Prof. Soludo is Nonpareil, you reject him at your peril.” I literally venerated you and therefore hated and still hate to contradict you. My response therefore is limited and thus:

    Any one who had not expected a more vicious fight-back from Prof. Charles Chukwuma Soludo to the response Jonathan’s administration made to his (Soludo) “exploratory consultancy” missives would be highly mistaken. Soludo’s fight-back is much within expectation. Rather what was not within contemplation was the likelihood of Soludo owning up to a mercenary brief and mission, now ably revealed by him as the very aim, object and essence of his exploratory brief. Hear Soludo in his fight-back: “What name has the government not called President Obasanjo or any person who has dared to disagree with it of late?” Again, see mischief writ large: “Jonathan, come and have a debate with me Soludo on the economy me by 12th February, 2015.” What a raw and crude way of announcing a mercenary brief !

    While Soludo is entitled to his brief and journey but as a Nigerian, a little bit knowledgeable of Soludo’s odyssey, including denial of him the opportunity to be Governor of Anambra State by those whose errand Soludo has now undertaken, I have a duty to say again:

    Charles Chukwuma Soludo convinces me beyond all manner of doubts, that the average Nigerian elite is motivated only by PERSONAL INTEREST. To him, the much touted “National Interest” is a facade, a make-up to gain applause for relevance.

    Prof., without much ado, the summary of this your syndicated piece is quite discernible, the subterfuge of your first paragraph notwithstanding. Which summary is: Jonathan, the worst man; his administration the worst ever. Buhari, very much unknown to you, this Jonathan man has left a mountainous problem for you to clear but I, Soludo, is the best guy to assist you in clearing the mess.

    But I assure Chukwuma Soludo one thing: It is doubtful if he can EVER AGAIN impress or make meaning to his intended audience. For to them, Charles Chukwuma Soludo has committed the “Alex Ekwueme Harakiri.”

    Recall, Dr Alex Ekwueme had gone to Abacha’s National Conference wherein he advocated for “Rotational Presidency” as between the North and South and amongst the six (6) geo-political zones. The North, in particular people of the North-West, regarded that proposition by Alex Ekwueme as a direct attack against the North. How that was/is, is still a puzzle to those of us who genuinely desire the longevity of this nation vide justice and equality of citizens and opportunity. Alex Ekwueme was to be punished severely when during the 1999 PDP Jos presidential primaries, Northern leaders and their hirelings in Nigeria ensured that Ekwueme lost. He was to come again in 2003. Arewa Peoples Congress (APC) commissioned a study and report on “Between Obasanjo and Ekwueme, who the North Should Support.” What’s the outcome ? The outcome was instructive as it said in sum: Though Obasanjo has not performed, the North is still advised to go ahead with him instead of Alex Ekwueme.

    Why that long history ? The North says Charles Chukwuma Soludo dealt them a mortal blow. That when he carried out the recapitalization program, 25 banks survived. That of the 25, 13 had Yorubas as controlling shareholders whilst Igbos control 11, leaving the North with only one (1), Unity Bank. Without being reminded, the process that led to the privatization of the banks was very transparent as the banks were capitalized through the interests and funds of shares-purchasers, who happened to be mostly Southerners.That citizens from a section of the country did not show commensurate enthusiasm was no making of Soludo. But the North held him liable for that. Soludo’s “culpability” manifested when time came for the renewal of his tenure. Despite willingness of President Yar’Adua to tenure renewal which he had personally promised Soludo, some Northern elders insisted and ensured that Yar’Adua never renewed the tenure.

    No doubt, Jonathan’s unforgivable offence against Soludo was committed when Soludo vied for the governorship of Anambra State. (I could now remember myself then making strident, unrelenting calls on Thisday newspaper online – as I did on his second attempt – for a wholesale welcome of Soludo’s candidature, warning that Anambra and indeed Ndigbo will miss their way and suffer a dire consequence if Soludo was not given a prime place-role via Anambra State – to the point that many thought Prof. Charles Chukwuma Soludo had commissioned me for that. The fact being and remaining that, for me, that is not possible. Second, I don’t know him, he doesn’t know me either and I am not even from the same State). By that time, Jonathan was still “a good boy” to the Ota man. And the Ota instruction came that “Charles be stopped” because Charles posed a stumbling-block to “the ‘anointed son’ from Anambra.” Jonathan carried that instruction to the letter. In the result, both Soludo and the anointed son lost to Peter Obi. Perhaps for a pound of flesh, Soludo was latter to identify with Atikiu Abubakar in the PDP 2011 primaries against Jonathan.

    Now, Soludo, in obvious journey to protecting his personal interest, just like his fellow Nigerian elites, has undertaken the “Last Push” by joining in the “Operation Stop Jonathan.” My prayer for Soludo is: may you not in the end be found to have committed the “Alex Ekwueme Harakiri”

    • john

      face the fact and counter the claims he made. Defend this economy with facts and stop calling names. The issues raised by soludo are to weighty to be watered down. The truth is the economic indices did not agree with madam minister,

  • Tope Adebosin

    Sanusi said 49b okonjo said 10b reconciliation said 20b, what is so called “forensic” saying? Nothing!!!! . She lacks integrity plssssssss

    • Fairgame

      See you and your ignorance on display. What they said holds no water unless it is validated by the auditor general. People like you filled with tribalistic hatred should first show integrity in your little office before accusing OkonjoIweala of such. It speaks volume about you that a man who has cases of bribery and embezzlement with EFCC is your champion. Of course why not isn’t a perjurer and forger of certificate of result, the islamist illiterate Buhari the husband to a cabal among the Yorubas, his wives? Soludo is in good company. OkonjoIweala has no time for him because unlike him she actually has a job. Let him keep doing the bidding of his master Obj and very soon they all will be history in Nigeria. God will see to that.

      • Tope Adebosin

        Now that I understand you. There’s no point engaging you. Lol

        • Fairgame

          Of course. Have a pain filled day since OkonjoIweala is still rising.

          • Tope Adebosin

            I’ve got more important things to read on the Internet like arsenal beat Aston Villa 5-0. Looool

      • Truth Hurts

        Okay. You acknowledge that it is 10.8 billion dollars (USD)!
        Where is the MONEY?!!!!!!
        Help ‘Madam’ to get the answers for ALL NIGERIANS.
        Thanks.

  • burning spear

    Three years ago the Central Bank governor, Chukwuma Soludo, installed his wife, Nonye, and their two children in a mansion bought for half a billion naira in the tony London suburb of Brondesbury Park.

    One of their two children is enrolled at Ampleforth College, an elite parochial school known as “the Catholic Eton,” and where the Central Bank governor pays an annual fee of £25,000 for this privilege— roughly half his annual salary. The other child attends a similarly expensive public school— which in Britain actually means private school— so that in theory Mr. Soludo’s entire earnings of about N12 million a year hardly covers his children’s school fees.

    Since he was appointed by former President Olusegun Obasanjo to his current position five years ago, Mr. Soludo, who was a university lecturer before joining the Obasanjo administration, has demonstrated a taste for high living, travelling in convoys of as many as seven vehicles, impeccably and expensively dressed in bespoke suits and heirloom watches, and generally enjoying a lifestyle that cannot be afforded by anyone earning about N1 million a month.

    The mansion occupied by his family in the exclusive London suburb is registered to Universal Energy Limited, an offshore company controlled by Emmanuel Ojei, the flamboyant tycoon with many business interests, including oil and gas.

    It is not clear under what arrangement the Soludos live in this £2.1 million home; Mr. Soludo is not telling Nigerians either. He has spent the past three weeks avoiding us and made promises to answer our questions that he has not kept, hoping that we will simply go away. Instead he is busy doing a yore mans job for APC.

    • Shuaibu Bola Victor

      This is mind boggling. Kai! Where is he(Soludo) writing from now? Is he in Nigeria? Please, let all security agencies find him. If he is out of reach, Interpol can help. Kai, this man, Soludo is highly corrupt.
      Kai! He is not supposed to be talking in public again. I wonder why he has not won any election since he left CBN. I will keep these records with me. If I become President I will probe him.
      Help!!!!

    • G4

      If you are saying he committed a crime be specific because u must really be d4ft, may you work all your years in various finance jobs locally and internationally and yet be living pay check to pay check ,may u never be wise to make any investment in your life,f00l

    • True Nigerian

      Utter rubbish, I knew Soludo’s house before he went into government. I knew what he was earning before he went into government. Many people know his salary which he negotiated before joining the government. If you see his mansion that he built long before he became a public servant, you would know that he could easily afford a mansion in London. Soludo has legitimately earned enough to buy a mansion in London without stealing.

      Your comment is the typical Jonathanian mentality (which is why he is going to lose the election). For Jonathan, any critic must be either discredited or maligned to silence. I have often said that propaganda can only take you so far, but not for too long before it wears off. After 6 years of concentrating enormous resources on propaganda, Jonathan is unable to convince most people that he is an idea that should be sustained.

  • Shuaibu Bola Victor

    It is quite unfortunate that some people might take Chukwuma Soludo’s
    evaluations of the President Goodluck Jonathan’s administration serious. As far
    as I am concerned, Chukwuma Soludo can never offer an objective and subjective
    assessment of GEJ’s administration due to his biased mind and vested interest.

    To say the least, everybody knows that Chukwuma Soludo was among the few
    Nigerians that fought hard to deny power from President Goodluck Jonathan in
    2010 and 2011. In order words, during the ailing period of ex-President Yar
    ‘adua, Soludo was at the fore front of the campaign from South -East to stop
    Jonathan in order for him and his cabal to keep holding Nigerians at ransom.
    But God shouted him down.

    Soludo, we all know how he robbed Nigerians billions of dollars as CBN Governor
    and since then has been avoiding EFCC. Based on the corruption tendencies of
    Soludo, coupled with his questionable hidden agenda for his latest campaign for
    APC, Anambra people rejected him when he vied for Anambra state guber position
    in 2011. Again, since Soludo lost out, his sense of judgement has been
    beclouded considering his public utterances and dispositions in recent time.

    I strongly believe that Soludo is biased and cannot offer us neutral and
    quality evaluation of Nigerian economy.

    WORLD BANK and IMF that have the best economists from advanced countries of the
    world have already evaluated and scored President Goodluck Jonathan’s
    administration the best in Africa.

    Does Soludo more brilliant than WORLD BANK and IMF? NO!

    GEJ TILL 2019.

  • MushinSpeaks

    Same Okonjo is whom the President put his economic trust on. Is our boat not sinking? Do we not need CHANGE?

    • Rotimi Lawanson

      Let God decide. Go and cast your vote. God will decide Nigeria’s future.

      • Xavier

        God will not decide Nigeria’s future, Nigerians have to decide their future. Great nations are not built on prayers or God, they are built on hard work.

  • Tomiwa

    It has become a competition between you and Madam
    Okonjo-Iweala; someone who is ahead of you in terms of experience and
    achievements. You should not tow that path, it only leads to downfall. Painting
    someone black to make yourself look good never works. Someone needs to start
    recanting what Madam Iweala too has done so we would know who can beat who’s
    records.

  • Jubril

    Your piece is full of acrimony and bitterness. This ECA
    that you are talking about was a brainchild of Madam Okonjo-Iweala and that is
    what is saving the country from the rainy day. Thanks to the competent
    management of Madam Iweala, Nigerian economy would have otherwise collapsed in the
    face of crude oil price decline. If it were under your management Mr Soludo,
    things would have been worse. Your piece is just an attempt to canvass public
    opinion to your side.

    • G4

      u must be retarded

  • Wise Head

    Buhari should renounce violence. He must promise Nigerians that he has something to offer beyond the readiness of his supporters to unleash violence any time, even without provocation. He should promise that if he is found guilty of lying under oath (perjury) on account of the false affidavit he swore to, that his supporters would not unleash violence. Because, if there is violence, he and his family members might be the first victims. Why is A 72 year old man too comfortable with blood-thirsty supporters? Terrible

    • Dan Arewa

      What the topic has to do with your comment?

      • Wise Head

        What is more important than getting Buhari to renounce violence. We have had enough bloodshed

  • Cyril

    These back-to-back long treatises on how Okonjo-Iweala
    has fared does not make you the choice for a better Finance Minister. given the
    same set of challenges Okonjo-Iweala is facing currently, you would perform
    woefully if given the chance.

  • Kazeem

    Ha! Soludo this is indeed biting the fingers that fed
    you. This same Okonjo-Iweala whom you are attacking with so much venom
    introduced you to Obasanjo’s administration. A stream that forgets its source
    would soon dry up.

    • Dan Arewa

      You remind me of GEJ calling OBJ a ‘motor park stout’.

  • Wise Head

    Who is Charles Soludo working for this time around? Is this another Obasanjo dusting up to wear him as mask since “kissgate” has damaged the Oby Ezekwesili brand and she has now gone into bitter quietness? This is the same Soludo, who against several pieces of wise advice went ahead to spend billions of dollars to mint coins which has now disappeared from the Nigerian markets? He was told that Nigerians do not like carrying coins, but he still went ahead to produce them at huge costs and used millions of naira to advertise them. After all the huge expenses, where are the coins? Was he motivated by the billion dollar contracts to produce the coins that he had to close his ears to all wise counsel?

  • G4

    this is passive aggressive

  • victo amadi

    Truth has no godfather even if you are born from same mum if someone loot you speak or oyedepo will put you in his hell.

  • Olumide Abas

    For every sensitive allegation that Soludo raised, he has promised a later time to conclude them in his book that may never be published. And does the former CBN Governor not understand what name calling is? I guess somebody needs to let him know that he is not the maturity he claims and wisheshe was; that he is culpable of his very own allegations of name calling too and perhaps he began the tantrums.

  • fresh15

    These arguments and counter arguments are mere distractions.Indeed Soludo did well as CBN governor and Madam Iweala is doing well as the finance minister.Let us leave arguments and support Jonathan’s team that is working so hard to transform Nigeria.

    • Dan Arewa

      ……working so HARD to transform Nigeria… You sounds damn funny and un-serious.

    • fem7mak

      mugu

  • Shaanu Akowe

    Oh! I didn’t know that the former CBN Governor could admit that there could be some economic down times as the times we are living in now that could affect whatever good intentions . I also didn’t know that he could admit that he was human in not being able to fish out corrupt heads in the banking system when he held the reins of powers. He didn’t really dwell on that though. Soludo, spare us and the the minister of Finance the hypocrisy!

  • Earnest

    I didn’t know that the former CBN Governor could admit
    that there could be some economic down times as the times we are living in now
    that could affect whatever good intentions. I also didn’t know that he could
    admit that he was human in not being able to fish out corrupt heads in the
    banking system when he held the reins of powers. He didn’t really dwell on that
    though. Soludo, spare us and the the minister of Finance the hypocrisy!

    • Romsey

      This olodo stinks!!! Please next time write in your mother tongue—-biko!!

      • Earnest

        Wouldn’t have dignified your stinking insolence with an answer but for my pity on you- to help your moral deficits…you couldn’t understand Soludo’s cynicism, could you? the debate is sure not for layabouts like you!

      • ayo

        You don’t have to insult him , just state your opinion.

  • Okey

    Prof. Soludo, looking around Nigeria in relation to your present brief, I thought of penning down: “CHUKWUMA SOLUDO, DANCING TO THE DRUMBEAT OF DEBAUCHERY,” but had to drop in consideration of the inherent and obvious contradiction I will now make of yourself and myself given that whilst I was campaigning for you to be Governor of Anambra State, one of the things I told my readers on this and other platforms was, “There are not up to five (5) Chukwuma Soludos in Nigeria.” In heated debates with my Anambra friends, I insisted “Prof. Soludo is Nonpareil, you reject him at your peril.” I literally venerated you and therefore hated and still hate to contradict you. My response therefore is limited and thus:

    Any one who had not expected a more vicious fight-back from Prof. Charles Chukwuma Soludo to the response Jonathan’s administration made to his (Soludo) “exploratory consultancy” missives would be highly mistaken. Soludo’s fight-back is much within expectation. Rather what was not within contemplation was the likelihood of Soludo owning up to a mercenary brief and mission, now ably revealed by him as the very aim, object and essence of his exploratory brief. Hear Soludo in his fight-back: “What name has the government not called President Obasanjo or any person who has dared to disagree with it of late?” Again, see mischief writ large: “Jonathan, come and have a debate with me Soludo on the economy me by 12th February, 2015.” What a raw and crude way of announcing a mercenary brief !

    While Soludo is entitled to his brief and journey but as a Nigerian, a little bit knowledgeable of Soludo’s odyssey, including denial of him the opportunity to be Governor of Anambra State by those whose errand Soludo has now undertaken, I have a duty to say again:

    Charles Chukwuma Soludo convinces me beyond all manner of doubts, that the average Nigerian elite is motivated only by PERSONAL INTEREST. To him, the much touted “National Interest” is a facade, a make-up to gain applause for relevance.

    Prof., without much ado, the summary of this your syndicated piece is quite discernible, the subterfuge of your first paragraph notwithstanding. Which summary is: Jonathan, the worst man; his administration the worst ever. Buhari, very much unknown to you, this Jonathan man has left a mountainous problem for you to clear but I, Soludo, is the best guy to assist you in clearing the mess.

    But I assure Chukwuma Soludo one thing: It is doubtful if he can EVER AGAIN impress or make meaning to his intended audience. For to them, Charles Chukwuma Soludo has committed the “Alex Ekwueme Harakiri.”

    Recall, Dr Alex Ekwueme had gone to Abacha’s National Conference wherein he advocated for “Rotational Presidency” as between the North and South and amongst the six (6) geo-political zones. The North, in particular people of the North-West, regarded that proposition by Alex Ekwueme as a direct attack against the North. How that was/is, is still a puzzle to those of us who genuinely desire the longevity of this nation vide justice and equality of citizens and opportunity. Alex Ekwueme was to be punished severely when during the 1999 PDP Jos presidential primaries, Northern leaders and their hirelings in Nigeria ensured that Ekwueme lost. He was to come again in 2003. Arewa Peoples Congress (APC) commissioned a study and report on “Between Obasanjo and Ekwueme, who the North Should Support.” What’s the outcome ? The outcome was instructive as it said in sum: Though Obasanjo has not performed, the North is still advised to go ahead with him instead of Alex Ekwueme.

    Why that long history ? The North says Charles Chukwuma Soludo dealt them a mortal blow. That when he carried out the recapitalization program, 25 banks survived. That of the 25, 13 had Yorubas as controlling shareholders whilst Igbos control 11, leaving the North with only one (1), Unity Bank. Without being reminded, the process that led to the privatization of the banks was very transparent as the banks were capitalized through the interests and funds of shares-purchasers, who happened to be mostly Southerners.That citizens from a section of the country did not show commensurate enthusiasm was no making of Soludo. But the North held him liable for that. Soludo’s “culpability” manifested when time came for the renewal of his tenure. Despite willingness of President Yar’Adua to tenure renewal which he had personally promised Soludo, some Northern elders insisted and ensured that Yar’Adua never renewed the tenure.

    No doubt, Jonathan’s unforgivable offence against Soludo was committed when Soludo vied for the governorship of Anambra State. (I could now remember myself then making strident, unrelenting calls on Thisday newspaper online – as I did on his second attempt – for a wholesale welcome of Soludo’s candidature, warning that Anambra and indeed Ndigbo will miss their way and suffer a dire consequence if Soludo was not given a prime place-role via Anambra State – to the point that many thought Prof. Charles Chukwuma Soludo had commissioned me for that. The fact being and remaining that, for me, that is not possible. Second, I don’t know him, he doesn’t know me either and I am not even from the same State). By that time, Jonathan was still “a good boy” to the Ota man. And the Ota instruction came that “Charles be stopped” because Charles posed a stumbling-block to “the ‘anointed son’ from Anambra.” Jonathan carried that instruction to the letter. In the result, both Soludo and the anointed son lost to Peter Obi. Perhaps for a pound of flesh, Soludo was latter to identify with Atikiu Abubakar in the PDP 2011 primaries against Jonathan.

    Now, Soludo, in obvious journey to protecting his personal interest, just like his fellow Nigerian elites, has undertaken the “Last Push” by joining in the “Operation Stop Jonathan.” My prayer for Soludo is: may you not in the end be found to have committed the “Alex Ekwueme Harakiri” !

    • Ajanaku

      You are no different from what is being written about. So, if a Nigerian criticises with hard facts it is no longer in the national interest but self interest. Well, you may want to know that self interest and national interest have blurred lines especially when that self interest is for the national good as Soludo has just done.

  • Ossy

    clearly, you guys have lost it completely & all i persive is hate & political sentiments as a result of our inability to maintain self control & employ character in our dealing with issues that affect us as a people in the wake of Okonjo & Soludo “debate”. some of you rant about whenever any one dares condem this clueless Jonathans govt. isnt this sickning? i laugh when i see the so-called leaders of tomorrow cannot just be objetive for a moment, it beats my immagination to see that only the ills of Soludo are of intrest here & the points he raised obout the financial mismanagement of this govt doesnt matter afterall eventhough these are the things that should really bother us as Nigerians. it is clear that our respons here are motivated by our individual political choices. do you all think if Jonathan had performed well Nigerians will be so insensitive not to acknowlege it? ofcaurse there wouldnt have bn any opposition but the oposit is the case. like i said in my previous post, no human is perfect, Soludo is human & admited it so when any one faults Okonjo she should acept it thats a sign of a ready-to-do govt & not bark like a mad bull DOG!. on this platform someone challanged me on this ofcourse am chalangable he claims that Okonjo as finance minister shldnt be asked obout the missing $20b frm NNPC this is ignorance, that shes managing the economy in the face of oil price fall?(which only occoured just three months ago) & shes not responsible for oil theft? i call this brain leakage go have your head checked. isnt it Your president who gave oil pipeline monitoring duty to his militants friends? what i said earlier is for us not to take sides in what Suludo & Okonjo are debating but take the facts and analyse them here as they effect us a people. God bless Nigeria. Change is all we need & change we shall get.

    • 100%9jaPikin

      They use Different names. They mostly use YORUBA names because they know YORUBA politics is based on merit. They don’t play ethnicity, they are not lazy intellectually, and they know they’ll be read if it bears Yoruba names. It’s is glaring they are paid. Most of them are from one section of this country. People know your antics. They know whatsUp! God or whoever owns this universe and directing it affairs will run your lives the way this government is running this economy. I say Amen to it!.

  • mike

    Pdp, always leaving the issue to chase shadows. Money is missing,; this is the point. Under whose watch? That is the question.
    Okonjo Iweala and oga phd holder have a lot to explain to Nigerians.
    Niger Delta presidency should not be about mismanaging the country’s wealth just because the bulk of the money comes from Niger Delta oil. It is wrong!

    • 100%9jaPikin

      They are all paid. What else haven’t we seen in today Nigeria. It’s just for a little more time. Feb14. They’ll all disappear as they appear.

  • Oluwapelumi

    Prof. Charles Soludo is simply seeking for attention which he’s not got since his tenure at the Central Bank
    elapsed. He has no moral justification whatsoever to accuse the minister of finance for wrecking the economy after the havoc he wrecked in the banking sector during his ignoble tenure as Central Bank governor.

  • Enoch Adefarati

    With all due respect sir, you ‘don’t bite the fingers that fed you’. Why are you quick to forget that the same Madam
    Okonjo Iweala you are criticising today is the same person who brought you into limelight. The fact that you’re indirectly vying for her office does not mean you should paint her black sir.

    • 100%9jaPikin

      This is from Madam in disguise I swear!

    • objective

      I think you should speak for yourself sir. where are the young entrepreneurs you are talking about.The National Economy is on drips. More than 90% of the youths are indigent. I am trying to understand what your reference point is.

  • Mofolorunso Oluwafemi

    As civil and educated people, it behoves us to act maturely and responsibly rather than resorting to needless
    name-calling, dirty politics and self-aggrandizement. Let’s respond to issues objectively rather than whip up unnecessary sentiments. Sir, if you have a personal grouse with the CME, its better you resolve it personally and not bring it to public glare.

  • Emmanuel Adeleke

    Professor Charles Soludo, enough of the tongue lashing of the finance minister. What exactly is this about? If
    you have personal scores to settle, it shouldn’t be on social media. The truth is she has empowered a lot of young, Nigerian entrepreneurs who I believe will remain eternally grateful to her and the current administration.

  • michaelnze

    ……this forum is infested, the names used are not real, they are reno´´s boys

    • POP

      Your presumption is correct. However, 90% of the yoruba names you see here are used by one farting @wahala..

      • 100%9jaPikin

        They use YORUBA names to look credible. But you could see they are paid mercenaries. They still are dumb though. Prof Soludo. Need not speak. We know what he’s done for Nigeria. And real Nigerians are grateful.

  • Owokanmi Gloria

    Talking about manipulation, you’re the one manipulating Nigerians. I still remember vividly about the polymer scandal when you were the CBN governor. You were one of those that received bribes from the Australian printing
    company, Securency in order to secure contracts for the printing of polymer naira notes. You cannot be trusted and because your corrupt nature, you think everyone is the same as you. The epistle you wrote as a rejoinder shows how insecure you are on what you claimed you have achieved.

  • tyson

    Three years ago the Central Bank governor, Chukwuma Soludo, installed his wife, Nonye, and their two children in a mansion bought for half a billion naira in the tony London suburb of Brondesbury Park.

    One of their two children is enrolled at Ampleforth College, an elite parochial school known as “the Catholic Eton,” and where the Central Bank governor pays an annual fee of £25,000 for this privilege— roughly half his annual salary. The other child attends a similarly expensive public school— which in Britain actually means private school— so that in theory Mr. Soludo’s entire earnings of about N12 million a year hardly covers his children’s school fees.

    Since he was appointed by former President Olusegun Obasanjo to his current position five years ago, Mr. Soludo, who was a university lecturer before joining the Obasanjo administration, has demonstrated a taste for high living, travelling in convoys of as many as seven vehicles, impeccably and expensively dressed in bespoke suits and heirloom watches, and generally enjoying a lifestyle that cannot be afforded by anyone earning about N1 million a month.

    The mansion occupied by his family in the exclusive London suburb is registered to Universal Energy Limited, an offshore company controlled by Emmanuel Ojei, the flamboyant tycoon with many business interests, including oil and gas.

    It is not clear under what arrangement the Soludos live in this £2.1 million home; Mr. Soludo is not telling Nigerians either. He has spent the past three weeks avoiding us and made promises to answer our questions that he has not kept, hoping that we will simply go away. Instead he is busy doing a hatchet man’s job for APC. Any thief who wants to hide his thievery like Sanusi-Amaechi and Rochas–would always use APC as his launch pad————-

    • tyson

      Is soludo not d turn-table economist who gave approval for the establishment of an Islamic bank in a secular country like Nigeria—-still opening his janjaweed mouth where he is supposed to shut it in the south east?

    • objective

      You might be right, but I think all you have mentioned is not unachievable as a consultant to several international organisations and governments. If however he made the money whilst in government, (though thievery should not be glorified in anyway), I think relative to the industrial scale looting and financial recklessness going on under the Jonathan’s administration as managed by the Co-coordinating Minister for the Economy, Jonathan and his cohorts have by their actions anointed Solodo a Pope.

  • Mustapha Mohammed

    Stop playing modest Prof. Soludo; you knew what you wanted to do before you set out to attack the minister. Lol! I laugh at your ignorance Prof. you call your -self gratifications achievements? If they were achievements, then the banking would not have been in comatose before you left. Ten of you can never be compared to an Okonjo Iweala. It was you gross incompetency that started the challenges that was faced in the banking sector and also affect our naira.

  • oghenena

    What those soludo know about National Economics statistics? If not for corruption who will know his name? Gosh

  • Lara Akomode

    Prof. Soludo and his selfish ambition would make him make his friends enemy. I still remember when he sang the praise of Okonjo because he was brought to lime light. Today, he wants her position, if eventually opposition government
    gets power. And that is why he has decided to heat at Madam Ngozi. Advise for you Prof. re-evaluate your selfish ambition to be sure if you have the interest of Nigeria at heart or you are just pursing your selfish agenda.

  • Matthew Ogunlewe

    You are really embittered; I wonder why your response was only just self glorifying. If you achieved that much, you wouldn’t have lost out from the election you contested for governorship in Anambra state. For them rejecting you only says how much you lack the qualities of a leader. Now you want to pour out you disappointment on Madam Iweala who her results is locally and global recognized. Not even your epistle can change it.

  • Hadassah Mantony

    I think Nigerians should also know about the polymer Naira scam you in which you were involved. That scandal was left unvisted and I think Nigerians deserve to know how corrupt you and how you tried to manipulate things for your selfish interest. In fact, because of the money you got from that bribery and the ones you stole from office, which was why you taught you had enough to contest for governorship position in Anambra state. You should be interrogated by the EFCC.

    • obi

      Do your reading before you write, thank you

  • don gordon

    COORDINATING MINISTER OF CORRUPTION

  • Fikayo

    I’m disappointed to hear a professor of economics advocate for an unnecessary yearly survey of statistics for review of methodology when deductions could be made from existing data for the purpose. It is so disgraceful for the professor to have ungratefully alleged manipulation from international allies- the reason why we it appears we might have been falling out of favour with them. Not everyone is as dubious as the Soludo knows he is.

  • ayo

    Prof. Soludo , i don’t understand you. Why must you critisize you friends in the media ,It is different if you had offered your advise and it was rejected and in the interest of the nation yu made the issues public. Na wa.! You now used the opportunity to advertise yourself. What is your agenda?

  • olotito

    * In 2008 when Obasanjo picked you to be Yaradua’s running mate who were the people that first
    kicked against your candidacy?
    The Ijaws did. Their reason was that the 2 years as governor in Bayelsa you did ABSOLUTELY NOTHING. Till
    date, your erra is still termed the worst in Bayelsa.
    * Why did Obasanjo find it difficult to sell you to his allies and PDP as Yaradua’s running mate?
    You Jonathan had a case with EFCC has documents proved you embezzled N9,000,000,000 (NINE BILLION
    NAIRA) while your wife Patience laundered $4,000,000 (FOUR MILLION DOLLARS) all these within two
    years.
    * Ebele, who was your biggest opposition in becoming Yaradua’s running mate?
    The answer is EDWIN CLARK. The man who today is your mouth piece and who is pretending loves you the
    most.
    * Azikiwe, amongst other tricks, what did you do to gather public sympathy?
    You Mr Deceitful sent people to blow up part of your house in Bayelsa to make it look like it was your
    political opponents. The SSS released a report which you guys later hid to debunk your dubious claim.
    * Jonathan, when Yaradua made you to be in charge of negotiations with the Niger Delta Militants,
    who were those who objected and what was their reasons?
    Asari, Tompolo, and Boyloaf. Their reason being that you are not sincere in the Niger Delta course but only
    after your pocket.
    SHOULD I GO ON?
    * What was your agreement with PDP regarding a 2nd term.
    You promised and even swore you will go for a SINGLE TERM
    *Why did you jail James Ibori and forced Aoandoka to go underground?
    To revenge their utmost loyalty to the late Yaradua
    .
    * Did you fulfill your agreement to Tinubu and others even when they had to betray their party at that
    last minute in order to canvass for you.
    ABSOLUTELY NO.
    * How did you try to mock and tarnish Obasanjo?
    You didn’t only remove all his loyalist from your government, you also made sure you made his enemies your
    closest allies. You don’t need me to start calling names right?
    * Who is Jonathan‘s BIGGEST Northern

    • burning spear

      I am a full blooded Ijaw man–there was never a time the Ijaw nation said no time the appointment of Jonathan as VP—BECAUSE HE DID NOT PERFORM—-That is the mother of all lies——anger was on the way and manner Alams the Bayelsa state governor was treated–by Obj and Ribadu–turned out to be a blessing—-cause it resulted in Jonathan being named by Yara Adua as his running mate–Agin Obj was not instrumental to to the nomination of Jonathan as his running mate—————–

      • objective

        Excuse me sir, it is either you don’t have your facts or you have deliberately decided to distort them. It is laughable that you said OBJ was not instrumental to the appointment of Jonathan as Vice President. For your own information sir, OBJ single-handedly nominated Jonathan.In a free and fair contest for the nomination of a Vice President, Jonathan had ho chance whatsoever at the time. OBJ actually blocked Odili to give room for Jonathan. Sir, you are attempting to stand history on its head. All the statements made by Olotito are correct; except the one that he claimed Jonathan’s wife laundered $4,000,000. I think the figure is a little lower.

  • burning spear

    President Goodluck Jonathan on Monday received the report of forensic auditors engaged to carry out a detailed investigation into the activities of the Nigerian National Petroleum Corporation.

    An accounting firm, PriceWaterHouse, was in March, 2014 hired to carry out the exercise following an allegation by the former Governor of the Central Bank of Nigeria, Lamido Sanusi, that $20bn was not remitted to the Federation Account by the NNPC.

    Sanusi, who is now the Emir of Kano, had written a letter to Jonathan that $49bbn was not remitted to the Federation Account by the NNPC.

    But following the controversy which the letter generated, a committee was set up to reconcile the account.

    Sanusi later said the unremitted fund was $12bn. He later again changed the figure to $20bn.

    The Nigeria Country Senior Partner of PriceWaterHouse, Uyi Akpata, on Monday presented the report to the President on behalf of the firm, saying, “It is a privilege for us to have carried out this exercise on behalf of the government and I hope that you will find this report useful.”

    Akpata did not give any insight into the forensic report.

    In accepting the report, however, Jonathan noted that the media and indeed Nigeria would be interested in the findings.

    To this end, he directed the Auditor-General of the Federation to study the report and make the key highlights public within the week.

    He said,”There has been so much of controversy over this NNPC and leakages or no leakages. I remember the Senate has also looked into it; it is also good that you professionals have also looked into it.

    “What appears in the papers and the speculation is also very high, the figures that I cannot even imagine the country will make are being bandied in the newspapers.

    “So, I am quite pleased that you have undertaken the forensic audit. Though it is voluminous, I will give it to the professionals.

    “In government work, there are people that have the statutory responsibilities to handle such assignment, which is the Auditor-General of the Federation.

    “So the Auditor-General will look at it and within the week, let us have key highlights because the media will want to know the key findings vis-a-vis the Senate’s findings and figures being bandied around in the newspapers. Nigerians are interested.”

    The President admitted that the nation’s petroleum sector needed to be reformed.

  • burning spear

    @olotito——–I am a full blooded Ijaw man–there was never a time the Ijaw nation said no time the appointment of Jonathan as VP—BECAUSE HE DID NOT PERFORM—-That is the mother of all lies—D—anger of d Ijaws was on the way and manner Alams the Bayelsa state governor was treated–by Obj and Ribadu–Was alams not d only governor who was jailed for corruption in Nigeria-by obj?—Happily it turned out to be a blessing—-cause it resulted in Jonathan being named by Yara Adua as his running mate–Again Obj was not instrumental to the nomination of Jonathan as his running mate—————–the person Obj wanted was Odili–after Obj and Ribadu stole the billions of Naira he wanted to use for the 2007 election-s–Besides Ribadu denied ever- investigating the wife of the president—on d alleged 4m dollar bribe scandal———–which Mrs Nwosu tried to cook against the first lady—-the same way Buhari tried to manufacture lies against late Pa Aajasin–Fela Amabrose Ali–Sam Mbakwe and Jim Nwobodo—-and late Ojukwu–whom Buhari locked up for 10 months in his gulag-

    Clark has never opposed the candidacy of Jonathan–rather the south east should be grateful to Clark cause he has always aligned himself to the south east—–I have a 39 yrs old cousin, who goes by the name Azikiwe–Jonathan did not adopt that name because of the Ibos-Don’t we have Ijaws named after great leaders like Awo—Are there no Ijaws in the South West-? I will plead with u to go to the University of Ibadan Library and dig up the history of the ijaw nation–it would do u a wealth of good—Was buhari not in the south east b4 Jonathan in 2003 and 2007–with two of his VPs coming from the east? what was the result? MEND CLAIMED responsibility for the bomb they exploded in the family house-0f Jonathan in the village—-which later resulted in the death of the father of the president-in Aso RockClinic -IF ASARE and Tompolo had objected to the peace deal–there would have been no amnesty—-the only group that said no due to the influence of atiku–among other fulani elites was MEND. SO keep yr yeye childish thoughts to yrself—animal

  • Esq.

    A shameless Mr Soludo, in his unwisedom has decided to make a mockery of the one that gave him a lifeline when he was only a surviver lecturer, perpetually struggling to exist a real man. Sadly enough, what he Charles has done now in his epistle as a rejoinder in the social media, is incorporating an irreversable fizzling to his entirety of existenc
    e. It is most unfortunate.

    • objective

      Hello Sir, your comment insults intelligence of fellow Nigerian. The Man supplied facts and figures. Don’t be allergic to the truth please.

    • koonlay

      And don’t think that your sheer utter of premium English will tickle ‘people of the figures’ like us accountants if I may say, who value facts and figures more that you ‘Esq’ do. What Soludo gave as evidence begs for explanation from Ngozi, and the last thing anyone will say is ‘epistle as a rejoinder in the social media…..’ bla bla bla. It is shocking if nobody can for once look deep and question Soludo’s accusations of the ‘head-tie’ maestro. I’m not Soludo’s or Ngozi’s fan, but an average Nigerian who wants the best for my country and future. If our tax is recklessly spent, those responsible deserves to spent eternity behind bars!

  • True Nigerian

    Soludo, thank you for writing. My only regret was that when I lived close to your house, I never really bothered to go and meet you and get to know you. I was quite dismissive of anyone in power, as I grew to dislike what Nigerian leaders called leadership. I will send my spies to let me know when next you are in town. When next you are in town, I will like to meet you so we can rub minds on a few things.

    By the way, on behalf of Madam, I am accepting your challenge for a debate. 🙂 I hope she will not slap me! I impose that acceptance on Madam. 🙂 Madam may wet her abada Nigeria (Nigerian textile wrapper) and scatter her ichafu (head tie) over this my acceptance on her behalf. Debates are not a good thing for someone that is surrounded by horrible thieves and liars.

    How does any finance Minister explain to the world that a country was paying out N2trillion for a subsidy program that was costed and set at N240b in the budget? How can that happen right under the watch of a professional like Ngozi? It just doesn’t make sense.

    Diezani and Jonathan have damaged Ngozi’s reputation beyond repair. It doesn’t matter what any of her fans may think. The truth is – Ngozi has many things which she should be able to explain as a Finance Minister, but which she cannot explain. By any normal standards, that is very damaging. But this is Nigeria. Here, people hate facts and figures, because facts and fgures are fatal to ethnocentric and ethnoreligious prejudices that preoccupy their minds on national issues.

  • tyson

    A similar trend is in place in terms of wastage of resources because today, it has been discovered that Nigeria has to discard the polymer notes that Soludo touted as magic. The notes are simply not suitable for the weather in Nigeria as they degrade too quickly and do not in any way offer the advantages that were sold to Nigerians. What other poor quality advice has this man unleashed on Nigerians when he held sway? But this should be a topic for another day as the failed governorship candidate himself would say. For those in doubt as to Soludo’s true intentions, they only need recall that his pettiness showed through as he could not resist that urge to massage his own ego, scratching the itch he still feels from losing to a popular candidate who confirmed his loss of touch with the reality that citizens live through. He had to find space in his epistle to insult former governor of Anambra state, Peter Obi. This act has multiple facets: it depicts a Soludo who will indiscriminately attack anyone he perceived to have cost him a meal ticket to cosy living and also reveals a man who will stop at nothing to attack anyone he knows to be related to President Goodluck Jonathan. Yet, this is a man to who Soludo should be eternally grateful for not clamping him into jail for the fraudulent transactions at the CBN. Instead, he further reduced himself into an errand boy for a band of desperate men, who finding now way of challenging President Jonathan’s performance with his transformation agenda, have to recruit Soludo to try and belittle what all Nigerians know to be true. President Jonathan’s Transformation Agenda is working and he has achievements to show for it. Even in this, like his job at the CBN, Soludo failed because his writing did not try hard enough to disguise the lines of his ventriloquist and puppet masters. Since, the one time CBN chief has shown an unrivalled capacity for being undiscerning so one’s message should be directed at the people who put him up to his latest verbiage. The message is simple; Professor Charles Chukwuma Soludo is not the best operative to do serious pre election collateral damage. He is simply a square peg in a round hole and it is not as if there are other people who can disprove that the Transformation Agenda is working for Nigerians.

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