The train towards our current dilemma of mediocrity and a mentality that abhors progress started in 1957 when the progressive camp of Nigerians asked for independence. The North opposed it for primordial reasons and as a consequence delayed independence for another 3 years. Since then, the line between the progressives who favour radical revolutionary change and those who prefer the unprogressive status quo has increasingly become manifest. Professor Chukwuma Soludo is no doubt a victim of the unprogressive camp, that has historically abhorred ambition, creativity and change. This same group has ensured by blocking any move towards true federalism, that the rest of Nigeria continues at their own pace

Nigeria presents a challenge which only a dynamic, determined, courageous, and progressive thinker can solve. But sectional ethnic interests which has remained in conflict with each other has continued to muzzle any such dynamic individuals geared towards radical change. It has resulted in mediocrity, and encouraged the resort to witch hunting those who ordinarily would be celebrated in other climes. It would thus be difficult to separate the ongoing Professor Chukwuma Soludo saga from the politics of a sectional interest group and political cabal. Professor Soludo is Nigeria’s equivalent of the legendary Alan Greenspan, America‘s erstwhile and very successful Governor of the Bank of America. Against a massive campaign by interest groups determined to maintain the status quo, he courageously oversaw the recapitalization of Banks which ended an era of weak and frequently failing banks engaged in “corporate 419” as they frequently made off with depositors funds.

He also among other critical reforms, re-organised the Nigerian security printing and minting which for the first time in its history succeeded in printing all currency locally. The sum total of his banking reforms has heralded an era of unbelievable confidence in the financial sector which has created an unprecedented boom in stocks and shares and stabilised the exchange rates of the Naira against other international currencies. His style of leadership has brought a professionalism, talent and creativity rarely seen in our clime.

His recent announcement of a strategic agenda for the Naira which proposes to bring the Naira at par with the dollar, has predictably brought out all shades and manner of vultures ready to sink their talons into the heart of an acknowledged progressive thinker and reformer. Some of them have in the process sought to remind us, in a bid to destroy his legacy out of both jealousy and sectional witch hunting, that neither the recapitalization nor the currency redenomination are originally his ideas. Isn’t it revealing that those who opposed both the recapitalization and proposed redenomination are now telling us the ideas are not originally his? No doubt because they loath the success of the recapitalization and are afraid of the potential success of the redenomination exercise. This indeed is enough proof of their intentions

Nigerians have never lacked any ideas on how to effect positive change and move the nation forward. What has always lacked is the political will and courage to implement them. In the same vein, the banking reforms necessary to overhaul the banking system was never a secret, what lacked as always was someone with the professionalism, courage and zeal to damn the odds and carry it through and professor Soludo happened to be that man.

Professor Soludo is human and could have made mistakes, but that cannot and should not take away the fact that he is a daring, committed and determined professional who has worked tirelessly for the benefit of an ungrateful nation. What i see in the present attempts to rubbish and humiliate him for daring to propose bold new initiatives for the Naira is the same penchant that has seen us destroying achievers and exalting mediocrity which has contributed in grounding us in perpetual poverty.

The consequences of Nigeria’s penchant for rubbishing talent and professionalism would result in increasing brain drain, and discourage those who have positive ideas from initiating them. It is a safe bet, that the interest groups on Soludo’s trail are already preparing someone from their ethnic group to take his job, not out of merit, but out of a tragic ethnic rat race, and primitive quest for domination which is responsible for the legacy of Nigeria’s historical misrule and arrested development.