Charles Chukwuma Soludo

Charles Chukwuma Soludo
Governor of the Central Bank of Nigeria
In office 29 May 2004 – 29 May 2009
President	Olusegun Obasanjo Umaru Yar'Adua
Preceded by	Joseph Oladele Sanusi
Succeeded by	Sanusi Lamido Sanusi
Personal details
Born	28 July 1960 (1960-07-28) (age 63) Aguata LGA, Anambra State
Nationality	Nigerian
Spouse(s)	Nonye
Children	Six
Occupation	Economics professor

Charles Chukwuma Soludo, CFR (born 28 July 1960) is a Nigerian economics professor and the immediate past Governor and chairman of the board of directors of the Central Bank of Nigeria (CBN). He was named Governor on 29 May 2004. He is also a member of the British Department for International Development's International Advisory Group.

Career

Academia

Dr Soludo has been visiting scholar at the International Monetary Fund, the University of Cambridge, the Brookings Institution, 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 organisations, including The World Bank, the United Nations Economic Commission for Africa, and the United Nations Development Programme.

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 MSc Economics in 1987, and a PhD in 1989, winning prizes for the best student at all three levels.

He has been trained and involved in research, teaching and auditing in such disciplines as the multi-country macro econometric modelling, techniques of computable general equilibrium modelling, 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.

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.

Government

Soludo joined the federal government in 2003. Prior to his May 2004 appointment to the bank chairmanship, he held the positions of Chief Economic Adviser to former President Obasanjo and Chief Executive of the National Planning Commission of Nigeria. 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". He hopes to see Nigeria become Africa's financial hub, and considers microfinance important to the federal government's economic policies.

Politics

In September 2009, Soludo announced his aspiration for the seat of the Governor of Anambra State, in the south-eastern Nigeria state's election of 9 February 2010.

On 9 October 2009, the People's Democratic Party (PDP) chose Professor Soludo as their consensus candidate for the position from a field of 47 candidates, after repeated attempts to hold elective primaries were stalled by court injunctions. However, his nomination was contested by 23 of the 47 aspirants, citing lack of transparency in the process.

After this initial rancour, 36 out of the 47 candidates, and several top shots of the PDP, affirmed their support for Soludo on Wednesday 14 October 2009. However, Soludo went on to lose the election to Peter Obi in an election which was largely considered free and fair according to major election observers. However, with the perceived solid performance of Soludo as the CBN Governor he remains a respected economic policy authority in Nigeria. Political commentators in urging an issue based election campaign in the coming 2011 election has called on aspirants to work with respected economists like Soludo towards an acceptable Economic Plan.

On 17 July 2013, Soludo resigned from the People's Democratic Party (PDP) after a letter to the National Chairman of the party, Alhaji Bamanga Tukur. He later joined the All Progressive Grand Alliance (APGA) in preparation for the November 2013 governorship race in Anambra state.

Publications

1992

• "North-South 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 US 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 9966-900-26-8 ISBN 978-9966900265

1998

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 0-86543-779-3

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 1-59221-164-X, ISBN 978-1-59221-164-7 (Also International Development Research Centre, ISBN 1-59221-165-8)

2006

• "Potential Impacts of the New Global Financial Architecture on Poor Countries", Edited by Charles Soludo, Musunuru Rao, ISBN 978-2-86978-158-0, 80 pages, 2006, CODESRIA, Senegal, Paperback

Notable Articles

Buhari vs Jonathan, Beyond the elections.

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).

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.