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Tag: Soludo

  • Soludo on slippery political terrain

    Soludo on slippery political terrain

    In 2011, former Central Bank Governor Charles Soludo joined the Peoples Democratic Party (PDP). Few months ago, he defected to the All Progressives Grand Alliance (APGA). Now, the renowned economist is having romance with the Peoples Democratic Movement (PDM). Assistant Editor AUGUSTINE AVWODE examines the political trajectory of the technocrat-turned politician.

     

     

     

    Former Central Bank Governor Charles Soludo is an accomplished intellectual. He became a Professor of Economics at the age of 36 years. He is a successful technocrat. But he has not been able to enact the same feat in politics.

    Soludo joined the Peoples Democratic Party (PDP) in 2010. Few months ago, he defected to the All Progressives Grand Allliance (APGA). Now, sources say that he is holding consultations with the top chieftains of the newly registered Peoples Democratic Movement (PDM).

    He became a public officer when former President Olusegun Obasanjo appointed him as his the Chief Economic Adviser and Chief Executive of the National Planning Commission (NPC). He served in that capacity between July 2003 and May 2004. Before that assignment, he had served as the Executive Director of the African Institute for Applied Economics (AIAE), Chairman of Queens Computerworld Limited, and consultant to many international organisations.

    Soludo was appointed as the Central Bank governor in May 2004. He introduced a lot of reforms. His legacy was the banks’ recapitalisation, which has prevented distress in the sector.

     

    Foray into politics

     

    Before his tenure as the CBN governor, expired in May 2009, Soludo had indicated his interest in politics.

    When he eventually left as the nation’s number one banker, he pitched his tent with the Peoples Democratic Party (PDP), eight months to the February 6, 2010 Anambra State governorship election. He was favoured to pick the ticket of the party. And he did. But his victory generated controversy. Many aggrieved politicians left the party for the opposition parties in Anambra State.

    The PDP gave Soludo the support he needed. Dr. Goodluck Jonathan, who was the Vice President then, was the Coordinator of the PDP Campaign Committee. Other members of the committee were the Deputy Senate President, Ike Ekweremadu, Delta State Governor Emmanuel Uduaghan, former Kogi State Governor Ibrahim Idris, Bauchi State Governor Alhaji Isa Yuguda, former Oyo State Governor Adebayo Alao-Akala, Enugu State Governor Sullivan Chime, Ebonyi State Governor Martins Elechi and former Imo State Governor Ikedi Ohakim.

    During the electioneering, a confident Soludo advised Governor Peter Obi to start preparing his handover note because he would definitely leave Anambra Government House. Soludo was sure he would defeat him.

    Unfortunately, that confidence was like a balloon filled with hot air and resting on blades of grasses. It was soon shattered. The party failed to live up to expectation at the poll. The rest is history.

    Senator Andy Uba, who was governor of the state for less than a month in 2007, defected to the Labour Party (LP). Others openly vowed to work against the interest of the party. The PDP went into the election in acrimony. It was weakened by crisis. Soludo came third at the election, trailing Obi and Senator Chris Ngige of the Action Congress of Nigeria (ACN). It was a traumatic period for a high flying Soludo. He became a failed politician. That was how his first political ambition hit the rocks.

     

    Shattered dream

     

    But Soludo is always optimistic. He is always full of hope for a brighter political future. He returned to his shell. Few months ago, he returned to the drawing board. He joined the governorship race. But he was disqualified by the APGA Screening Committee headed by Alhaji Tayo Sowumi.

    Soludo’s calculation was defective.To forestall a repeat of the 2010 experience, he was advised to pitch his tent with APGA, giving the fact that Governor Peter Obi was on his second term in office. There were unsubstantiated claims that he got some encouragement from the seat of power in Abuja. He subsequently defected to the APGA. That was early August. His arrival coincided with the reconciliation of Governor Obi with the National Chairman of the party, Chief Victor Umeh.

    But, in a letter he wrote to PDP National Chairman, Alhaji Bamanga Tukur, on July 17, 2013, Soludo said: “This is to convey my resignation as a member of the Peoples Democratic Party (PDP) with effect from today. Let me use this opportunity to thank the party for the opportunity given to me to serve it in some capacities.

    “It has been a long process of taking this decision; it has taken months, equally doing the necessary consultations among my people, which dates back to January 2, 2013, and this is where my people belong. There is an overwhelming demand by the people of Anambra State for me to remain engaged in the political process and, after all the consultations, I come to the conclusion that there is need for that.

    “Also, there is a peculiar demand from the people for me to run for thegovernorship of the state in November this year to build on what our governor, Mr. Peter Obi, has done already with his predecessor, and I found out that there is need also to take Anambra to a greater height. We need continuity and consolidation on what Obi and his predecessors had done in the state. So, APGA is a party that is a mass movement; it lives in the consciousness of the people”.

    The Soludo aura immediately rubbed off on the political party. Many even claimed that he was brought into the party as a compromise candidate between the two warring chieftains.

    But those who had thought that his new move would help his cause were dead wrong. Few days after he defected to the APGA, and with the party’s primary election just around the corner, another aspirant surfaced. This time, a business associate of the governor and executive director of Fidelity Bank, Willie Obiano. His emergence immediately sent bad signals to other aspirants.

    About 20 days after he defected to the APGA, Soludo picked the nomination form. But he was disqualified. The party’s screening panel said at the conclusion of the panel’s sitting that six of aspirants failed to scale through the test. He said seven scaled through. The unsuccessful aspirants are Emmanuel Nweke, Ogbuefi Tony Nnaechetta, Chinedu Francis Idigo, Dr. Chike Obidigbo, Oseloka Obaze and Soludo.

    The successful aspirants areHon. Chukwuemeka Emmanuel Nwogbo, Paul Odenigbo, Hon. Uche Lillian Ekwunife, Obiano, John Nwosu, John Okechukwu Emeka and Nwachi Patrick Obianwu. It was alleged that those disqualified were guilty of non-presentation of voters and party membership cards, lack of evidence of financial strength to execute the campaign, invalid certificate and their inability to submit tax clearance.

    Obiano secured the APGA ticket, to the surprise of Soludo, who cried foul.

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    A new search begins

     

    But it cannot be said to be totally over for the renowned economist. Sources said that he is reaching out to the chieftains of the PDM. The party may however, not be able to meet the deadline set by the Independent National Electoral Commission (INEC). Soludo’s recent visit to former Vice PresidentAtiku Abubakar, who is the perceived facilitator of the new party, lent much credence to the speculation that he is PDM bound.

    For Soludo, the search for another political identity and pursuit of the elusive dream continue. His political trajectory promises to be a case study for students of politics.

     

  • Soludo sues APGA for disqualification

    Soludo sues APGA for disqualification

    Former Central Bank of Nigeria (CBN) Governor Prof Chukwuma Soludo has sued the the All Progressive Grand Alliance (APGA) for disqualifying him from contesting the governorship primaries in Anambra State.

    He filed a motion at the Abuja High Court, seeking a judicial review of the party’s decision.

    APGA’s screening panel on August 16 disqualified Soludo and five others from participating in its August 26 primaries.

    The primaries will produce the party’s candidate for the November 16 governorship election.

    The screening panel’s decision was upheld by the party’s appeal body.

    In a motion exparte filed yesterday by his lawyer, Ikechukwu Ezechukwu (SAN), Soludo urged the court to grant an order of certiorari, removing and setting aside the decision of the party’s screening panel, on the grounds that the decision violated APGA’s constitution and the country’s constitution.

    He also urged the court to order parties to maintain the status quo ante bellum.

    Soludo pleaded for an order of interim injunction, restraining APGA from preventing him from participating in the August 26 primaries, pending the determination of the motion on notice.

    Yesterday, the court’s vacation judge, Justice Peter Affen, refused the oral submission by Ezechukwu that the case could be heard in Abuja, where the party’s headquarters is located.

    The judge ordered the lawyer to file further affidavit, citing cases to support his argument that the case could be heard outside Abuja.

    The court resumes today.

  • APGA ‘will not reverse’ disqualification of Soludo, others

    APGA ‘will not reverse’ disqualification of Soludo, others

    The Chairman of the All Progressive Grand Alliance (APGA) in Anambra, Chief Mike Kwentor, said it would not overrule the disqualification of six aspirants vying for the party’s governorship ticket in the state.

    Kwentor told the News Agency of Nigeria (NAN) in Awka on Saturday that the action of the screening committee was in line with the party’s constitution.

    He said that it was better for the party to go into the election with a candidate without blemish than with one whose victory could be voided.

    According to him, the constitution says you must be eligible to vote before you can be voted for and for you to be eligible to vote, you must have voter’s card.

    “So, I think that the Screening Committee disqualified those they disqualified based on cogent reasons.

    “I am sure that even those disqualified know that the reason for which they were disqualified was cogent, otherwise, they will appeal because the party made provision for appeal,” he said.

    The Alhaji Tayo Sowunmi-led committee screened the 14 gubernatorial aspirants on Friday and disqualified six aspirants.

    Those disqualified are: Prof. Charles Soludu, Mr. Oseloka Obaze, Dr. Chike Obidigbo, Chief Chinedu Idigo, Chief Tony Nnacheta and Mr. Emma Nweke.

    They were disqualified for non-possession of voter’s card, tax clearance, lack of evidence of sound financial muscle, and unresolved issue with the Economic and Financial Crimes Commission.

     

     

  • Soludo, CBN chiefs on faulty BA plane

    Soludo, CBN chiefs on faulty BA plane

    Former Central Bank of Nigeria (CBN) Governor, Prof Chukwuma Soludo; the apex bank’s spokseman, Mr. Ugoh Okoroafor and other members of the Nigerian delegation from the Finance Ministry and the CBN, were aboard a London-bound British Airways (BA) flight which developed “a fault” yesterday.

    The flight was to take off at the Nnamdi Azikiwe International Airport (NAIA), Abuja, but was cancelled when the the fault was detected.

    The delegation members were on their way to Washington DC, United State (US), for the spring meeting of the International Monetary Fund (IMF) and the World Bank.

    The aircraft was said to have developed a fault on its right engine as it was about to take off. The flight was scheduled for 8.30am before the incident occurred.

    Passengers immediately disembarked from the aircraft which later towed away from the runway to the tarmac.

    It was learnt that engineers were battling to fix the problem at the time of filing this report last night.

    The NAIA Public Relations Officer (PRO), Mrs. Henrietta Yakubu, confirmed the incident. She described it as a technical fault.

    Mrs Yakubu said: “The BA had a technical fault. So, the passengers had to disembark. The aircraft landed as usual, but when it was about to take off, it was discovered that it had a technical fault. There was no accident or casualty.”

    She, however, could not identify the cause of the fault.

    Efforts to contact British Airways for comments were unsuccessful.

  • PDP stakeholders to meet Soludo, others

    PDP stakeholders to meet Soludo, others

    Stakeholders in the Peoples Democratic Party (PDP) in Anambra State have called for a meeting to address the crisis rocking the party in the state.

    The stakeholders have agreed to meet former Vice-President Alex Ekwueme and other stakeholders, including Chris Uba, his brother, Andy, ex- Central Bank of Nigeria (CBN)Governor Chukwuma Soludo, Nicholas Ukachukwu and the party’s National Publicity Secretary, Olisa Metu.

    The decisions were taken yesterday at a meeting summoned by Senator Emma Anosike at Umueri in Anambra East Local Government.

    The meeting was attended by all serving members of the House of Assembly, former lawmakers both at the state and national assemblies, ex-council chairmen, commissioners, board directors, among others.

     

  • Soludo: A quest renewed

    Soludo: A quest renewed

    The last time they talked him into bidding for the PDP ticket in Anambra State’s gubernatorial race, the quest almost ended before it got under way.

    The “He” in this case, is Charles Chukwuma Soludo, decompressing in London, still not fully recovered from being edged out of his perch as Governor of the Central Bank of Nigeria.

    The “they” here is rather amorphous, but the principal figure was President Umaru Yar’Adua, the person who had signed off on Soludo’s defenestration from the CBN, with other persons of consequence in the PDP who were forever scheming to “capture “ those states not governed by the biggest party in Africa.

    In his revealing January 21, 2013, Op-Ed piece for THISDAY (“What Obasanjo and Yar’Adua told me”) Soludo recalled how, on inquiring about him, Yar’Adua had been told that he was holidaying abroad and how he had been told that Yar’Adua would like to meet with him on his return.

    Their goal, Yar’Adua told Soludo when they finally met on July 26, 2009, was to get him voted governor of Anambra State in the election scheduled for February 2010 so as to finally endow the state with the leadership it had never had the good fortune to enjoy – the kind of leadership encapsulated in the technocratic skills Soludo had applied to nation’s economy and financial system, as well as his accomplishments in those fields.

    Why then was he denied a second term at the CBN?

    But I digress.

    If Soludo thought this was a fanciful goal, considering the power of incumbency in Nigerian politics and the rugged tenacity that the incumbent, Peter Obi, of the ANPP, had displayed over the years, not forgetting the malignant influence of the Ubah clan on the political life of the state, his diffidence must have dissolved there and then.

    Himself The Fixer, Tony Anenih, he was told, had been mobilised for the project and could hardly wait to go into action, if only to demonstrate that, recent setbacks not-withstanding, he was still a past master at turning losers into winners and winners into losers.

    Soludo did not have to make any commitment then. He should go discuss the matter with his family and associates. But if he decided to run, he would enter the race knowing that Yar’Adua would “come out fully” to ensure that he won the prize.

    His wife stood resolutely against the idea, but Soludo felt sufficiently buoyed by his consultations with friends and associates to tell Yar’Adua one month later that he was in the race, though not without preconditions.

    The Federal Government would have to build an airport and dredge the River Niger to enable medium-sized ships sail all the way to Onitsha, where an international seaport would have to be constructed. The Anambra-Kogi road would have to be upgraded to a dual-carriage highway. Because one-third of its land mass was threatened by soil erosion, Anambra would have to be given special drawing rights from the Ecological Fund.

    Nor was that all.

    The Federal Government would also have to complete the Greater Onitsha water scheme, designate Anambra an oil-producing state, and as a “pilot state” for large-scale commercial agriculture. Finally, it would have to speed up construction of the second Niger Bridge.

    With these things in place, Soludo said, he was confident that, after two terms of working 24 hours a day, he would have transformed Anambra to the point that Federal allocations would be devoted wholly to capital projects. Re-current expenditure would be wholly internally generated.

    But with all these things in place, who needs Soludo’s intimidating antecedents and credentials to transform Anambra into “an international city”? And why would the Federal Government do those things for Anambra and not for other states?

    But I digress again.

    The important thing is that Yar’Adua agreed to all these demands, according to Soludo, who then asked for four more weeks for wider consultations. The deal was sealed.

    Thereafter, the waters got muddied.

    Yar’Adua fell ill, went to seek treatment in Saudi Arabia, and was never in control again. Soludo’s78-year-old father was kidnapped. His captors demanded a ransom of N500 million, but later reduced it to N300 million, warning darkly that “the worst” would happen if the demand was not met promptly.They freed him unharmed after six weeks, under terms that were never disclosed.

    Soludo’s opponents sought to envelope him in scandal, charging that he had profited from improprieties in the printing of small denomination polymer banknotes handled by an Australian company when he was CBN governor. More than 1,300 petitions were filed, their major contention being that “outsiders “ were trying to impose Soludo on the Anambra State branch of the PDP. The petitions moved the PDP to suspend the party primaries indefinitely.

    When the process finally got under way, party officials had to be imported from Benue State to conduct the election of delegates. Following a shuffling and reshuffling of the delegates, the PDP and the Independent National Electoral Commission declared Soludo winner of the ticket.

    The high court voided the outcome. That verdict was affirmed on appeal, but reversed by the Supreme Court, just in time for the election proper

    In the event, Peter Obi was reelected governor.Soludo placed third, with just under 20 percent of the vote, behind second-place winner Chris Ngige. The Fixer apparently went missing in action, or was thoroughly out-fixed.

    Running for governor of Anambra again after this ordeal should be the last thing on the mind of the average political aspirant. No outcome is guaranteed. President Goodluck Jonathan cannot even guarantee his own re-election, much less that of another. The Ubah clan feels as entitled as ever. As for the Fixer, let us just say that his victims have wised up to his tactics.

    But Soludo is not your average aspirant.

    With one deft stroke, he has served early notice of his intent to enter the fray. “The penalty good men pay for indifference to public affairs,” he wrote, echoing Plato, “is to be ruled by evil men.”

    Bravo, Chuma. May your example pervade this land of little men – and women –in big boots.

    This time around, you cannot move your father and closest relations to safe locations early enough.

     

  • Soludo may be charged soon- EFCC

    THERE  are indications that the immediate past Governor of the Central  Bank  (CBN),Professor  Chukwuma Soludo,  may be charged to court by the  Economic and Financial Crimes Commission (EFCC)  over  the contract for the printing of the  N20  polymer notes in 2006.

    Soludo was quizzed last Thursday and Friday by operatives of the commission in connection with the N750million alleged bribe in the process of awarding the contract.

    Some CBN officials were said to have received bribe from the Australian firm of Securency International Pty which secured the contract.

    The Nation gathered that the EFCC legal team is sorting out  all the necessary  details which would enable them file  charges against Soludo.

    Confirming this development to The Nation yesterday, Wilson Uwujaren, Head, Publicity, EFCC, said: “Don’t forget that the investigation on the matter is ongoing.

    “But I can assure that the EFCC’s legal team is working round the clock to ensure that all the paper work is perfected to enable us prosecute the case against the former CBN governor anytime soon.”

    Pressed further, he said: “The public will definitely be carried along as we proceed with the case. But I can assure you that the whole process will be as transparent as possible.”

     

  • EFCC quizzes ex-CBN governor Soludo

    EFCC quizzes ex-CBN governor Soludo

    …  Over polymer contract scam

    The Economic and Financial Crimes Commission on Thursday quizzed a former Governor of Central Bank of Nigeria (CBN), Prof. Charles Soludo over alleged N750million Polymer contract.

    There were strong indications on Thursday night that the ex-CBN Governor might be detained by the commission overnight.

    The late president Umaru Yar`Adua had in company with the CBN governor launched the new N5, N10 and N50 polymer notes on September 30, 2009 at the Presidential Villa.

    The circulation of the new bank notes coincided with Nigeria’s 49th Independence Anniversary day celebration.

    But there had been allegations of shady deal between some CBN officials and Securency International Pty of Australia.

    The Australian Federal Police (AFP) had already probed the alleged N750million offered by Securency to win the contract.

    Although the contract for the printing of N5, N10, N50 notes were awarded in April 2009, the bribery scandal involving Securency was perpetrated in 2006.

    Investigation by our correspondent revealed that the probe conducted by AFP had given clues which the EFCC is looking into.

    It was gathered that in the last few months, the EFCC had interrogated some top officials of the CBN and the Nigerian Security Printing and Minting Company.

     

  • Okonjo-Iweala, Soludo, Toure for Southeast summit

    Okonjo-Iweala, Soludo, Toure for Southeast summit

    Preparations for the Southeast Economic Summit have reached advanced stage as over 90 per cent of the resource persons have confirmed their participation.

    Top on the list is the former Managing Director of the World Bank, Minister of Finance and Co-ordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, who will deliver the keynote address at the event and Prof. Chukwuma Soludo, former Governor of the Central Bank of Nigeria, who will chair the grand finale of the summit.

    A statement by the Secretary of the summit, Mr. Amaechi Agboeze, also indicated that the United Nations Resident Coordinator in Nigeria/UNDP Resident Representative, Mr Daouda Toure, has also confirmed his participation and will deliver a Good will Message from the United Nations in Nigeria at the event.

    A Director in the World Bank Country Office in Nigeria, Dr. Michael Wong, will give a Lead Paper on the South East Investment Climate Report during the Infrastructure Forum at the Summit.

    An aspect of the Summit, according to the statement, is the Infrastructure Forum being packaged by the PPP Resource Centre under the Infrastructure Concession Regulatory Commission in the Presidency, Abuja.

    The Forum is a Special Session dedicated to finding solutions to the orchestrated problems of infrastructure in the Southeast.

    It will feature a Lead Paper by the Executive Director of the Resource Centre, Chidi Izuwah, who will speak on ‘Delivering world class infrastructure to drive inclusive growth in agriculture & industry through an effective sub-national PPP Frame works: Lessons from other emerging economies.’

    The Director-General of the Governors’ Forum, Asishana B. Okauru, will speak on Southeast Peer Review Mechanism Report on regional infrastructure: challenges and opportunities.

  • Soludo for AUN’s Founder’s Day

    The National Association of Nigerian Students (NANS) has denied the allegation that students committed arson during their protest against the horrific killing of four undergraduates of the University of Port Harcourt (UNIPORT) penultimate week.

    In a press statement, the Vice President of NANS, Comrade Moreno Ehimemenn, refuted the claims that the students burnt about four houses in Aluu, saying the protest was peaceful.

    “The protest lasted over 12 hours. We, the leadership of NANS in the zone, ensured that it was violence-free. None of our students were involved in the burning of houses. The arson was committed by indigenes of Aluu to gain sympathy from people,” he said.

    The group, however, accused the Federal Government of paying lip service to the indiscriminate killing of students across the country and warned that they would take to the streets if the killers were not brought to book.

    “The Federal Government has failed the Nigerian students for not addressing the incessant killing of students in the country. We have resolved, if drastic measures are not taken to fish out the killers of the over 40 students at Mubi and the four from UNIPORT, we would shut down the educational sector of the country for one week through a peaceful demonstration,” he said

    On his part, the NANS Zone B Secretary General, Comrade Richard Ekutu, blamed the gruesome killing of the four UNIPORT students on inadequate hostel facilities on the campus.

    He said over 75 per cent of the university’s students reside off campus.

    The students called on the Federal Government and management of the institution to provide more hostel facilities to avoid a reoccurrence and put a stop to majority of its students residing off-campus.

    Meanwhile, NANS has thanked the management of the Ambrose Ali University, Ekpoma for its final decision to conduct the poll on Thursday contrary to insinuations that the election might not be held this academic session.

    The Vice President of the apex students’ body, said officials of the body would monitor the election to ensure it was free, fair and credible.