Charles C. Soludo

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Charles Chukwuma Soludo
Governor of the Central Bank of Nigeria
Incumbent
Assumed office  May 29, 2004
President	Olusegun Obasanjo, then Umaru Yar'Adua
Preceded by	J. O. Sanusi
Born	28 July 1960 Aguata LGA, Anambra State
Nationality	Nigerian
Spouse	Nonye
Children	Four

Charles Chukwuma Soludo, CFR (born 28 July 1960) is a Nigerian economics professor and the Governor and Chairman of the Board of Directors of the Central Bank of Nigeria (CBN). He has been Governor since 29 May 2004.^[1] He is also a member of the British Department for International Development's International Advisory Group.^[1]

Contents 1 Career 2 Publications 3 419 scams 4 References 5 External links

[edit] Career

Dr Soludo has been visiting scholar at the International Monetary Fund, the University of Cambridge, The Brookings Institute, the University of Warwick and the University of Oxford and a visiting professor at Swarthmore College (USA). He has also worked as a consultant for a number of international organizations, including The World Bank, the United Nations Economic Commission for Africa, and the United Nations Development Programme.^{[2][3][4][1][5]}

Soludo is a core professional in the business of macroeconomics. He obtained his three degrees and then professorship at the University of Nigeria in Nsukka, Enugu State. He graduated with a First Class Honors degree in 1984, an M.Sc. Economics in 1987, and a Ph.D. in 1989, winning prizes for the best student at all three levels.^[1][5][6]

He has been trained and involved in research, teaching and auditing in such disciplines as the multi-country macro econometric modeling, techniques of computable general equilibrium modeling, survey methodology and panel data econometrics, among others. Soludo studied and taught these courses at many Universities, including Oxford, Cambridge and Warwick. He has co-authored, co-edited and authored about ten books on this subject matter.^[6]

In 1998 Soludo was appointed to the position of professor of economics at the University of Nigeria; the next year he became a visiting professor at Swarthmore College in Swarthmore, Pennsylvania, US.^[1]

Soludo joined the federal government in 2003. Prior to his May 2004 appointment to the bank chairmanship^[7], he held the positions of Chief Economic Adviser to former President Obasanjo and Chief Executive of the National Planning Commission.^[1].

In January 2008, in a speech to the Nigerian Economic Society, he predicted consolidation in the private banking industry, saying "By the end of 2008, there'll be fewer banks than there are today. The restructuring of the banking industry has been attracting funds from local and foreign investors, which have increased banks' ability to lend to customers".^[8] He hopes to see Nigeria become Africa's financial hub,^[9] and considers microfinance important to the federal government's economic policies.^[10]

Since April 2008 he has been facing several anti-corruption panels set up by the Nigerian authorities^{[citation needed][11]} for allegedly having invested^[12] US$480 million of public funds in a private company called African Finance Corporation (AFC) which Soludo serves as the Chairman in private capacity.^[13][14][15] On 7th May 2008, many newspapers in Nigeria reported^[16] that the preliminary report of the panel^[17][18] found Soludo guilty^[19] and the AFC has been directed^[20] to return the money the Central Bank of Nigeria.^[21]

[edit] Publications

1992

• "North-sorth macroeconomic interactions: Comparative analysis using the MULTIMOD and INTERMOD global models", Charles Chukwuma Soludo, Brookings discussion papers in international economics, Brookings Institution (1992)

1993

• "Implications of alternative macroeconomic policy responses to external shocks in Africa", Charles Chukwuma Soludo, Development research papers series, United Nations Economic Commission for Africa, Socio-Economic Research and Planning Division (1993)
• "Growth performance in Africa: Further evidence on the external shocks versus domestic policy debate", Charles Chukwuma Soludo, Development research papers series, United Nations Economic Commission for Africa, Socio-Economic Research and Planning Division (1993)

1994

• "The Consequences of U.S. Fiscal Actions in a Global Model with Alternative Assumptions about the Exchange Regime in Developing Countries”, Ralph C. Bryan and Charles Chukwuma Soludo. Chapter 13 in David Currie and David Vines, eds., North-South Linkages and International Macroeconomic Policy, Cambridge: Cambridge University Press for the Centre for Economic Policy Research. (Brookings Discussion Paper in International Economics No. 103. Washington, DC: Brookings Institution, February 1994.)

1995

• "Macroeconomic adjustment, trade, and growth: Policy analysis using a macroeconomic model of Nigeria", Charles Chukwuma Soludo, AERC research paper, African Economic Research Consortium (1995) ISBN 9966900268 ISBN-13: 978-9966900265

1998

• Soludo, Charles Chukwuma (1998). Macroeconomic Policy Modelling of African Economies. Acena. ISBN 9782114294. 

1999

• "Our Continent, Our Future: African Perspectives on Structural Adjustment", T. Mkandawire and C.C. Soludo, Council for the Development of Social Science Research in Africa, Dakar, 1999, in Journal of Sustainable Development in Africa, 1:2, 1999.

2002

• "African Voices on Structural Adjustment: A Companion to Our Continent, Our Future", Edited by Thandika Mkandawire and Charles C. Soludo. At least three editions: IDRC/CODESRIA/Africa World Press 2002, ISBN 0-88936-888-0, 280 pp.; Paperback, ISBN 978 0 88936 888 0 Jan 2003; Africa World Press 2003, ISBN 0865437793, pp=280
• Okonjo-Iweala, Ngozi; Charles Chukwuma Soludo and Mansur Muhtar (2002). The Debt Trap in Nigeria: Towards a Sustainable Debt Strategy. Africa World Press. ISBN 1592210015. 

2004

• "The Politics of Trade and Industrial Policy in Africa: Forced Consensus", Edited by Charles Chukwuma Soludo, Michael Osita Ogbu and Ha-Joon Chang, Africa World Press (January 2004), ISBN 159221164X, ISBN-13: 978-1592211647 (Also International Development Research Centre, ISBN 1592211658)

2006

• "Potential Impacts of the New Global Financial Architecture on Poor Countries", Edited by Charles Soludo, Musunuru Rao, ISBN 9782869781580, 80 pages, 2006, CODESRIA, Senegal, Paperback

[edit] 419 scams

Soludo's name and position are frequently used by con artists in their attempts to add credibility to their advance-fee fraud activities (also known as 419 scams).^[22]

[edit] References

1. ^ ^{a b c d e f} Board of Directors. Central Bank of Nigeria. Retrieved on 2008-01-12.
2. ^ Róbinson Rojas.- OUR CONTINENT, OUR FUTURE. African Perspectives on Structural Adjustment .- About economic inequality, social exclusion and corruption.-Environment.-Energy.- Dependency Theory, US Imperialism, capitalism, RRojas Databank, The Róbinson Roj
3. ^ Contributors: Centre de recherches pour le développement international
4. ^ http://www.styluspub.com/books/AuthorDetail.aspx?id=6264
5. ^ ^{a b} Soludo Appointed CBN Governor, Asia Africa Intelligence Wire, 30-APR-2004.
6. ^ ^{a b} "N25bn capital base: Senate drills Soludo" BNW News: Biafra Nigeria World News.
7. ^ His appointment as the Central Bank chairman was criticized by some who felt Soludo did not have managerial experience and practical knowledge of Nigeria's turbulent banking industry.^{[citation needed]}
8. ^ Adesida, Seun. "There will be fewer banks in 2008 –Soludo", The Sun News On-line, The Sun Publishing, 2008-01-04. Retrieved on 2008-01-12. 
9. ^ Omonkhanlen, Odidison. "Financial sector reforms and the judiciary", Nigerian Tribune, African Newspapers of Nigeria, 2007-12-31. Retrieved on 2008-01-12. 
10. ^ Atitebi, Tajudeen. "Microfinance banks take centre stage in", Vanguard Online Edition, Vanguard Media, 2008-01-07. Retrieved on 2008-01-12. 
11. ^ Which Nigerian authorities? Why several panels? Wouldn't one have been enough?
12. ^ What does "invested" mean? Did the bank buy shares? Did the bank make a loan? What?
13. ^ Nigerian Vanguard and Tribune of Thursday 15th May 2008.
14. ^ Some critics of the past regime claim that AFC is the Finance Wing of TRANSCORP - a private company where former President Obasanjo has a sizable investment.
15. ^ See page 70 of the Nigerian Guardian of 29th April 2008 and The Nigerian Punch of 3rd May 2008.
16. ^ For example, see the Nigerian Independent, Nigerian Punch & Nigerian Guardian of 7th May 2008
17. ^ "The panel"?? Above you say "several panels". Make up your mind.
18. ^ Which panel? More information please.
19. ^ How can a "preliminary report" find someone guilty? Does a "panel" have the authority to find someone "guilty"? And what have they found him guilty of? And what is the penalty? And what authority do they have to enforce it?
20. ^ What does "directed" mean? Who is this panel? What authority do they have? Do they have any authority over AFC? Do AFC have to take any notice of their "directions"?
21. ^ This is all very vague and of poor quality. Can anyone provide specific information, and links to any of these "references", rather than sweeping generalisations and meaningless waffle?
22. ^ urgentmessage.org

[edit] External links

• (Small) photograph of Prof Soludo CBN website
• Photograph of Prof Soludo, co-chair of the 16th World Economic Forum on Africa held in Cape Town, 31 May to 2 June 2006.

Preceded by J. O. Sanusi

Governor of the Central Bank of Nigeria 29 May 2004–present

Incumbent