Tag: Kingsley Moghalu

  • Moghalu condoles with BUA Group’s Chairman over father’s death

    Former Central Bank of Nigeria (CBN) Deputy Governor and Presidential aspirant, Kingsley Moghalu has condoled with the family of BUA Group’s Chairman, Abdulsamad Rabiu over the death of his father, Isyaku Rabiu.

    In a statement released on Friday, Moghalu said: “ It is with sadness that Professor Kingsley Moghalu and the Kingsley Moghalu Support Organisation (KIMSO) received, this evening, the news of the departure of an illustrious son of the great City of Kano, Isyaku Rabiu. Sheik Isyaku Rabiu, leader of the Tijjaniya Movement in Africa, was an Islamic scholar, elder statesman, business tycoon, philanthropist, and a senior stakeholder of the Kano Emirates”.

    He added: “Popularly called the Khadimul Qur’an, the elder Rabiu is survived by his loving family members, including Abdulsamad Rabiu, Chairman of BUA Group. We would like to express our heartfelt condolences to his entire family, His Royal Highness, Mallam Muhammadu Sanusi II, CON (Emir of Kano), sons and daughters of Kano, and indeed all Nigerian people for this great loss,”.

  • Moghalu seeks high voter turnout in 2019 elections

    Former Central Bank of Nigeria (CBN) Deputy Governor and Nigerian presidential aspirant, Kingsley Moghalu has called on Nigerian electorates to come out in large numbers and cast their votes in the forthcoming 2019 general elections.

    He also urged Nigerians to stop ‘managing’ political leaders and recognise that there is no force more powerful and determined than citizens who have decided that enough is truly enough.

    The former United Nations official made the statement at The Platform, an event organised by the Covenant Christian Centre, Lagos.

    Stating that Nigerians are weary and disappointed in Nigerian politics and the country’s underdevelopment, Moghalu explained that citizens have learnt to lower their expectations, believing that they do not deserve nice things or the possibilities of developing a country with policies that provide solutions for all citizens.

    “So we have decided, let’s manage the recovery of 165 girls; it is impossible to get back all 265. Let us manage a president, who is not personally corrupt, it could always have been worse. Let us take the governor that promises a few flyovers but chases poor people out of our cities as if they are not human. That’s the cost of development. Let’s pretend that 60 percent of our federal revenue doesn’t go to maintaining just 1 million people; after all they haven’t killed anybody. Let’s manage the one we have, we tell ourselves. Because we can’t really get what it is we truly want,” he said.

    Sharing his experiences from his tour and town hall meetings held across the country – from Benue to Nnewi, Kano and Abeokuta – the candidate emphasised that nothing will stop Nigerians from getting the leadership that they truly deserve in the forthcoming elections.

    “Over the past three years, I have spent quality time talking to the people no one really talks to when they hold massive rallies with people they have paid to stand in the sun, and what I have seen has convinced me of something powerful. We did it in 2011 when we together voted a minority president in a country where they told us it wasn’t possible. We did it in 2015 when we elected an opposition president in a country where ruling parties never lose national elections. We just have done it for people that we were ‘managing’, because we didn’t think we could get what we really deserved,” he explained.

    Calling on voters to believe in the coming democratic revolution, Moghalu encouraged Nigerians to seek each other out and encourage everyone to vote, sharing the truth about where Nigeria will be if they choose to vote against the status quo.

    “We start with one number. Just one. Find one person – a friend, your security guard, the woman who sells fruit round the corner, your work colleague – find one person and persuade them to be there at the polls in February 2019. Be their ‘polling buddy’ and make sure they have their voter’s card, make sure they are aware of the issues. Then, help them be a “polling buddy” to somebody else,” he reiterated.

  • Kingsley Moghalu and how to elect Nigerians’ darling President

    Kingsley Moghalu and how to elect Nigerians’ darling President

    Quite necessarily, we Nigerians now have a bright idea of the ideal next president for the country. We have been advised by the very recognisable fundamental inadequacies of those who have led the country since 1999. The generality of Nigerians has suffered untold political, economic, social and psychological repercussions of having the fundamentally inadequate leaders. It is great that our reaction is the growing resolve that the country must get its topmost leadership right in 2019.

    Three of the qualities we want in the next president stand out. One, we want him or her to be young. This is not simply a matter of age, given the other qualities we want. But the youthfulness of the next president is important. We live in a fast-changing world. Keeping pace with the issues in today’s “digital” age can be very challenging for those whose prime years were in the “analogue” age.

    Very importantly, many Nigerians admitted that old age can be challenging in meeting the high physical demands of leading the country. Where a Nigerian President has been unable to function as a result of ill-health, which is common with old age, we have seen the usurpation of political power by the “cabal,” who frustrate legitimate, transparent and accountable use of political power.

    Two, we want this relatively young Nigerian to possess sound intellect. This requirement derives from the awareness of the abundant supply of well-educated Nigerians. It also derives from the awareness that both the comprehension of the perennial Nigerian development challenges and the solutions to address them require high mental acumen.

    For so long, the country has been led by people who are not intellectually equipped to solve the problems of the country. The notion that such leaders would make up for their shortcomings by working with technocrats has delivered very limited results. A technocratically competent leader will deliver optimal results by working with a good number of other technocrats at cabinet and advisory levels. Anything less will deliver, at best, underwhelming results.

    Moreover, the Nigerian president is ultra-powerful, in the absence of strong institutions that act as checks on the powers of the president in the advanced countries that practice the same presidential system of government. Without sound intellect, the president would see little use of building or supporting strong institutions that would not be tele-guided by him or her. This has been the case in Nigeria, to the effect of our underdevelopment.

    What’s more, nobody is allowed to outperform the Nigerian president. That is why he or she should possess the intellectual prowess to be a top performer. Three, we want this youthful and brainy president to be a good person. We don’t want him to be of the stock or a lackey of the corrupt, self-serving same old leadership we have been having. We have recently realised that a putative clean individual that is propped up by a group of corrupt individuals cannot deliver a clean government.

    The president must be empathetic. He or she must not be someone who will divide the citizens or take advantage of us, using our religion or ethnicity. We want him or her to see us, not merely as voters but as people whose legitimate aspirations should be the object of his government.

    So, how can we have this individual as the next president of the Federal Republic? There are two fundamental requirements for this to happen. One, the individuals who possess these qualifying attributes have to bring themselves forward for election. Two, we have to support and vote for the best among such candidates to fully assert our resolve for meritocracy.

    But our disinclination towards supporting and voting for our ideal candidates in previous presidential elections prevented such candidates from coming forward. While we have always had individuals who fit our requirements, we as the electorate – in particular those of us who made this sensible determination of the ideal leadership qualities and are influencers in our various capacities – have also been cynical of our very own preferences, insisting our idealism is unrealisable.

    We say a young, competent and clean individual cannot emerge as president in Nigeria because politics is a dirty, old game for people who cannot compete fairly. We also insist that politics is a game of money. But while money is required in running for office, money does not ultimately decide who wins the election. Ultimately, elections are won and lost by the number of votes a candidate secures.

    What the unscrupulous electoral aspirants and candidates do is go at any lengths to secure the highest number of votes. This may entail direct inducement of voters with looted public funds or mobilisation of thugs for ballot box snatching and stuffing. Even where there is collusion with the electoral officials to alter the vote tallies, this is mostly possible in tipping over a winner in a dead heat. The fertile ground for these malpractices is the withdrawal of a lot of us, the good people of the country, from supporting, volunteering and voting for our ideal candidates.

    Fortunately, the indication is that we have become wiser. We have seen how elections affect us – our career, business, wellbeing, community and country – when we withdraw from engaging the electoral process and fail to vote during elections. With our resolve to correct this situation, the 2019 presidential election will likely standout from the previous elections by the quality of the aspirants.

    Kingsley Moghalu, OON, has now made himself available for election as Nigerians’ darling presidential aspirant. Prof. Moghalu is relatively young. At 54, he is not too young to be inexperienced; neither would he be considered too old and tired. Since he returned to the country last November and set up his new “think and do tank” – not merely a think tank – IGET (Institute for Governance and Economic Transformation), he has been all over the country, delivering lectures, mentoring the youth and consulting with various stakeholders, including in Kano, Abuja, Nsukka, Ibadan, Abeokuta, Lagos and Port Harcourt. Quite young at heart, Kingsley Moghalu has been engaging directly with younger Nigerians on Facebook.

    Without equivocation, Moghalu is especially fitting, among some other Nigerians who have come out to declare their intention to run for the office of President. He is a consummate technocrat. After spending 17 years in the United Nations, rising to the topmost career position of Director at a young age of 43, he left the UN to found and lead an international consultancy in Geneva, Switzerland. From his role of providing advisory services to some of the global companies, he was tapped by the administration of late President Umaru Yar’Adua to become a deputy governor at the Central Bank of Nigeria in 2009.

    At the CBN, Moghalu, under the governorship of Lamido Sanusi (as he then was, but now the Emir of Kano, His Royal Highness Muhammadu Sanusi II), led the far-reaching reforms to stop the spread of systemic risk in the banking sector in 2009. He played leading roles in formulating the resolution vehicles for the banking crisis, ensuring no Nigerian lost his or her money in the banks.

    Since he served out his one term of five years gracefully in 2014, Moghalu was appointed to the Advisory Board of the Official Monetary and Financial Institutions Forum, the London-based global think tank that advises governments and central banks on fiscal and monetary policy. He later became a Professor of Practice in International Business and Public Policy at the Fletcher School of Law and Diplomacy, Tufts University.

    Kingsley Moghalu’s inspiring professional career leverages his first-rate education: he obtained his PhD from the London School of Economics. That Nigeria needs a policy thinker who can come up with cutting-edge solutions to Nigeria’s myriad challenges is not in doubt. And this is where Moghalu asserts his credentials as a transformational leader. He is the author of Emerging Africa: How the Global Economy’s ‘Last frontier’ Can Prosper and Matter. Emerging Africa provides both conceptual and practical frameworks for Nigeria’s transformation, within the larger discussion of how Africa can make accelerated developmental progress. His new book, Build, Innovate and Grow: My Vision for Our Country, shows he hasn’t simply fancied himself as president; he has prepared to lead Nigeria to socio-economic transformation.

    The election of Kingsley Moghalu as President of Nigeria would hold a powerful symbolism for we Nigerians, if we make it happen. A lot of us had resigned to the belief that it is impossible to trounce the self-serving political establishment at the ballot. Moghalu, as President, would be the ultimate disruption of that political establishment. He has had no affiliation to the PDP or APC. He is of a proud Igbo heritage, with transformational national outlook. His victory would be uniquely capable of stirring our individual and collective “can-do” spirit, erasing doubts that Nigeria can ever be politically egalitarian.

    Moghalu is a good person. He stood up for the professional integrity of the CBN while he was deputy governor. Since he left, his public views about the institution have been on how to enhance its professional rectitude. Second to his professional orientation is good dispositions to his colleagues and those who look up to him for guidance, support and mentoring.

    Kingsley Moghalu surpasses our cogent three requirements. He has charm and an admirable family. He has oratorical prowess. This means he would be a president that is capable of engaging Nigerians directly. He would also be able to meaningfully engage the international community and global investors. Therefore, he would be a president that will truly make Nigerians proud. As a journalist, I am particularly excited that it would be joy to interview him.

    . Akintunde is Managing Editor, Financial Nigeria publications and Director, Nigeria Development and Finance Forum.

    Read Also: 2019: Moghalu declares for presidency

  • Ex-CBN deputy governor Moghalu mourns Ekwueme

    Ex-CBN deputy governor Moghalu mourns Ekwueme

    Former Central Bank of Nigeria (CBN) Deputy Governor, Financial System Stability, Kingsley Moghalu has reacted to the passing of the former Vice President of Nigeria and the Ide of Oko, Chief Alex Ekwueme.

    In a statement, Moghalu said that with the passage of Ekwueme, Nigeria has lost a rare gem, Anambra a kinsman, Africa a true statesman who dedicated a lifetime to service.

    “On behalf of myself, and the entire family of the late Elder Isaac Moghalu, my late father, I would like to express our deepest condolences to the family of the Ide. Our thoughts and prayers are with his son, Pastor Goodheart Obi Ekwueme who was my church pastor in Abuja while I was with the CBN, his daughter Mrs. Chidi Onyemelukwe and her husband Dr. Okey Onyemelukwe, who are close friends of my wife and me,” Moghalu said.

    He said the late Ekwueme lived a life of inspirational vision in both private and public service. “As an entrepreneur, he defined a new generation of indigenous architects when he founded Ekwueme Associates, Architects and Town Planners, the first of its kind in Nigeria, a bold statement that defined a Nigeria proud of its homegrown talent. As the first elected Vice President of this country, he was the epitome of excellence and selfless service to his nation and to the people he served. Ide drove the socio-economic and educational advancement of all Nigerians. He was an example of true courage in the midst of adversity,” he said.

    “As we mourn our father, kinsman, mentor, friend and fellow comrade, let us remember to uphold the values he believed in. Let us as citizens stride forward together and work for a more prosperous and egalitarian society. His legacy demands much of us; asking us to be active participants in seeking the leadership that can truly make Nigeria the very best version of itself as a country, of us as a people,” he added.

  • Moghalu to address Swiss business leaders

    Moghalu to address Swiss business leaders

    Former Deputy Governor of the Central Bank of Nigeria, Professor Kingsley Moghalu will deliver the keynote address at the 2017 edition of Le Rendez-vous du Commerce International (International Business Conference) on January 10, 2017 in Lausanne, Switzerland.

    The annual conference is jointly organised by the Swiss global bank Credit Suisse, the Swiss state corporations Swiss Export Risk Insurance (SERV) and Switzerland Global Enterprise (S-GE). Professor Moghalu will speak on the topic “Outlook Africa 2017: How to Cope with Weak Commodity Prices”.

    The conference, the fifth since its inception in 2013, will be attended by 200 chief executives of major Swiss international companies, and will be moderated by the Swiss television anchor Olivier Dominik of RadioTelevision Suisse (RTS).

    Keynote speakers at previous annual editions of the conference include Yannis Varoufakis, former Minister of Finance of Greece, H.E. Manuel Barroso, former President of the European Commission and H.E. Dominique de Villepin, former Prime Minister of France.

    Dr. Moghalu is currently the Professor of Practice in International Business and Public Policy and Senior Fellow in the Council on Emerging Market Enterprises at the Fletcher School of Law and Diplomacy at Tufts University in Boston, Massachusetts, USA.

    He served as a Deputy Governor of the CBN from 2009 to 2014 and was the Head of the Financial System Stability (FSS) Directorate that implemented the CBN’s extensive banking sector reforms in the country after the global financial crisis.

    He also served as Deputy Governor for Operations.

  • Financial council to quiz Sanusi, Alade, Lemo, Moghalu, Akingbola, 10 others

    Financial council to quiz Sanusi, Alade, Lemo, Moghalu, Akingbola, 10 others

    The Financial Reporting Council of Nigeria (FRC) will tomorrow and Thursday question the suspended Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi; CBN Acting Governor, Dr. Sarah Alade; former CBN Deputy Governor, Operations, Tunde Lemo; CBN Deputy Governor, Operations, Dr. Kingsley Moghalu; and former Managing Director/CEO of the defunct Intercontinental Bank Plc, Mr. Erastus Akingbola.

    Also to be questioned are the Managing Director of the Bank of Industry (BoI), Ms Evelyn Oputu; CBN Deputy Governor, Corporate Services, Alhaji Suleiman Barau; Mr. Babatunde Dayo; Mr. Gabriel Okpeh and Mr. Ezekiel Ejedele.

    Also to appear before the FRC hearing panel are the former Chief Executive Officer of the Nigerian Security, Printing and Minting Company (NSPMC), Mr. Ehi’ E Okoyomon; Alhaji Ahmed Barmali; Mr. Igho Dafinone; the immediate past Chief Executive Officer of Access Bank, Mr. Aigboje Aig-Imokhuede; and his successor, Mr. Herbert Wigwe.

    While Sanusi, Aalde, Lemo and six others are expected to appear at the interrogation to be held at the FRC head office in Lagos on Thursday at 11 am, Akingbola, Aig-Imoukuede, Wigwe and three others are to appear at the same time tomorrow.

    The FRC said in a newspaper advert published yesterday that it is investigating the activities of the CBN for financial years ended December 31, 2011 and 2012. The investigation, the council said, includes related matters arising from transactions and events, which impacted on the 2011 and 2012 from earlier years and have implications for later periods.

    “We wish to inform the under-listed persons that the FRC is investigating the activities of the CBN for financial years ended December 31, 2011 and 2012. This investigation includes related matters arising from transactions and events, which impacted on 2011 and 2012 from earlier years and have implications for later periods,” the report said.

    The FRC management said letters had been sent to the concerned persons before the current invitation to hearing.

    Sanusi was suspended on February 20 by President Goodluck Jonathan for alleged financial recklessness. That was after he said the Nigerian National Petroleum Corporation (NNPC) had failed to remit $20 billion oil revenue to the Federation Account. He has denied any wrongdoing.

     

  • CBN expects ‘below-target’ inflation in 2014

    CBN expects ‘below-target’ inflation in 2014

    The Central Bank of Nigeria expects inflation to remain below its single-digit target throughout 2014, as it has this year, Deputy Governor Kingsley Moghalu told Reuters on Thursday.

    He also said growth next year was projected at 7.6 percent, which compares with a rate this year of around 6.5 percent.

    He added that better prudence meant the government would be able to keep Nigeria’s fiscal deficit below three percent in 2014, as it has this year.