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Lagos AC Calls for Full Probe of Soludo’s Tenure as CBN Governor

January 18, 2010

The Lagos State chapter of the Action Congress has called on the Economic and Financial Crimes Commission to commence a probe of the tenure of the former governor of the Central Bank, Prof. Charles Soludo, in view of recent revelations of the gargantuan fraud in the banking sector. The party said that a situation where those that have wrecked vital sectors of the economy are allowed to smuggle their ways into positions of responsibility will only continue the state of ruination which Nigeria is irrevocably charting.

The Lagos State chapter of the Action Congress has called on the Economic and Financial Crimes Commission to commence a probe of the tenure of the former governor of the Central Bank, Prof. Charles Soludo, in view of recent revelations of the gargantuan fraud in the banking sector. The party said that a situation where those that have wrecked vital sectors of the economy are allowed to smuggle their ways into positions of responsibility will only continue the state of ruination which Nigeria is irrevocably charting.
In a release in Lagos, signed by the Lagos State Publicity Secretary of the AC, Joe Igbokwe, Lagos AC says that what Soludo is doing tantamount to seeking immunity in the wake of the bizarre rape of the banking sector and the Nigerian economy during Soludo’s tenure as CBN governor for Soludo to now be vying for the governorship of Anambra State. The party insists that the nation must start punishing people who wreck institutions and put the lives and interests of the generality of Nigerians in danger while futhering their own personal interests.

“We believe that every Nigerian has the right to aspire to any office in the land, given all other requirements but we do not believe that public service should be a reward for failure. When such failure leads to mass privation, we have every reason to demand that such a Nigerian should not only be probed but censored for his role. The Nigerian banking sector provides a ready instance where a critical sector was led to become a slush fund for those close to the former central bank governor hence the ruination of the sector and the present decimation of the life savings of Nigerians and the mass purge now going on in the banking sector, we have our reasons to warn that the nation stands to give an official stamp to such reckless official acts if nothing is done to unravel the culprits of the banking scandal that left millions of Nigerians robbed of their savings.

“Lagos AC notes that it has become a culture in Nigeria to reward failure with promotion and we see the effort to force Soludo on Anambra State as one of such cases, following hotly in the heels of similar instance where the former minister for power and steel, Mr. Liyel Imoke was rewarded with the governorship of Cross River after a resounding failure in the power sector. At present, Nigeria is suffering the quakes of the failure of the financial sector under Soludo’s watch. Millions of Nigerians have lost their savings in the aftermath of the failure of the stock exchange and the irreversible downward thrust of banking shares and the massive corruption involving the bank executives,  who were saved from exposure during the Soludo tenure as CBN governor. We insist that Soludo must tell the nation what he knows about the great rot his successor, Lamido Sanusi is unraveling in the banking sector today.

“We are surprised that no one is being made to pay for the complete ruination of the banking sector when someone was in charge of the sector when the rot happened. We are even more surprised that Nigerians are not asking questions of where Soludo got the enormous money he is spraying all over town in a bid to secure the governorship of Anambra State. We believe that the EFCC must step in to launch a full probe into what happened in the five years Soludo presided over the CBN. This will be a great signal that the nation will not tolerate the kind of impunity that has ate up all sectors of the national economic and political life.

“We call on the EFCC to do the necessary task for which it is set for and probe the Soludo tenure to ascertain his complicity in the present banking and financial sector scam. We believe the aftermaths of that scandal is so weighty that the culprits should not be allowed to walk away scot free and covet higher offices while ordinary Nigerians reel in the throes of the tsunami Soludo presided over in the central bank. We demand for a full probe now.”

 

Joe Igbokwe.

Publicity Secretary,

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