Charles Soludo Biography And Net Worth – Political Escapades Of The Former CBN Governor

In this post, we will be talking about the biography of Charles Soludo. Charles Soludo CFR is a Nigerian economist, a professor, a one-time Governor and chairman of the board of directors of the Central Bank of Nigeria (CBN). Professor Charles Soludo was also an aspirant for the Anambra State governorship seat in the south-eastern Nigeria’s state election of 2010.

Biography, Net Worth, Background And Career Journey Of Charles Soludo

Charles Soludo Background

Professor Charles Chukwuma Soludo was born on the 28th of July 1960. He hails from Aguata Local Government Area of Anambra State, Nigeria. On completing his secondary school education, he proceeded to the University of Nigeria, Nsukka where he studied Economics. He graduated with a first-class degree in 1984.

Afterwards, he went on to obtain his Master’s degree (MSc) in Economics in 1987, and a doctorate (PhD) in Economics in 1989, from the same University graduating as the best student on all levels of his study. Charles Soludo is married to Nonye Soludo, and they are blessed with six children.

Charles Soludo Career

In 1998, Charles Soludo became a professor of economics at the University of Nigeria, Nsukka, and in 1999, he became a visiting professor at Swarthmore College in Swarthmore, Pennsylvania, USA.

Professor Charles Soludo was a lecturer in Oxford, Cambridge, and Warwick University. He lectured on multi-country macro-econometric modelling, techniques of computable general equilibrium modelling, survey methodology, and panel data econometrics, etc. Also, Charles Soludo has authored, co-edited, and co-authored about ten books.

Professor Charles Soludo joined the Nigerian government in 2003 as the Chief Economic Adviser to former President Obasanjo and the Chief Executive Officer of the National Planning Commission of Nigeria.

In May 2004, he became the Chairman of the Central Bank of Nigeria (CBN). Also, he got an appointment from the Nigerian President – Mohammadu Buhari, to be part of the newly formed 8-member Economic Advisory Council (EAC) on the 16th of September 2019.

Charles Soludo’s Political Escapades

Professor Charles Soludo announced his intention to contest for the seat of the Governor of Anambra State in February 2010. In pursuit of his ambition, the People’s Democratic Party (PDP) chose him as their consensus candidate on the 9th of October 2009.

He eventually lost the election to Peter Obi. Despite his loss, Charles Soludo is still a respected economist in Nigeria, due to his satisfactory performance as the CBN Governor.

Charles Soludo resigned from the People’s Democratic Party (PDP) on the 17th of July 2013, after he wrote a letter to PDP’s National Chairman – Alhaji Bamanga Tukur. Afterwards, he joined the All Progressive Grand Alliance (APGA) in preparation for the November 2013, Anambra state governorship election.

Charles Soludo’s Publications

North-South Macroeconomic Interactions: Comparative Analysis using the MULTIMOD and INTERMOD global models for the Brookings discussion papers in international economics, Brookings Institution – 1992
Implications of alternative macroeconomic policy responses to external shocks in Africa in the Development research papers series for the United Nations Economic Commission for Africa (UNECA), Socio-Economic Research and Planning Division – 1993
Growth performance in Africa: Further evidence on the external shocks versus domestic policy debate in the Development research papers series, for the United Nations Economic Commission for Africa (UNECA), Socio-Economic Research and Planning Division – 1993
The Consequences of US Fiscal Actions in a Global Model with Alternative Assumptions about the Exchange Regime in Developing Countries – 1994

Macroeconomic adjustment, trade, and growth: Policy analysis using a macroeconomic model of Nigeria, in the African Economic Research Consortium (AERC research paper) – 1995
Macroeconomic Policy Modelling of African Economies – 1998
Our Continent, Our Future: African Perspectives on Structural Adjustment, Council for the Development of Social Science Research in Africa, Dakar, in the Journal of Sustainable Development in Africa – 1999
African Voices on Structural Adjustment: A Companion to Our Continent, Our Future – 2002
The Debt Trap in Nigeria: Towards a Sustainable Debt Strategy, printed by Africa World Press – 2002.
The Politics of Trade and Industrial Policy in Africa: Forced Consensus, printed by Africa World Press – 2004
Potential Impacts of the New Global Financial Architecture on Poor Countries, CODESRIA, Senegal – 2006

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Charles Soludo’s Memberships

Member of the International Advisory Group for the UK-DFID
He is a member of the Chief Economist Advisory Council of the World Bank
Member of the International Advisory Group of the UK Department for International Development (DFID).
Charles Soludo is a member of the Initiative for Policy Dialogue (IPD.
Fellow of the Chartered Institute of Bankers of Nigeria (CIBN)
Professor Charles Soludo is a Fellow of the Nigerian Economic Society (NES).

Quotes Of Charles Soludo

“The world will need new systems to meet these new needs, so, we have to either innovate, compete or die.”

“We need a new constitution that would be negotiated by Nigerians.”

“But for anyone to suggest that CBN under me, for one minute, took its eyes off the ball is, to say the least, ludicrous…”

“So, the easiest way to waste the future is to churn out millions of semi-illiterates, largely unemployable citizens most of whom seek criminality as the only way to escape the poverty trap.”

“…Most people would agree that without the successful banking consolidation and effective management of our foreign reserves, the current global crisis would have shaken the financial system and our national economy to their foundations with calamitous consequences.”

“The Central Bank of Nigeria (CBN) has performed creditably well in delivering on its core mandates…”

Awards And Nominations Of Charles Soludo

D.SC (Honoris Causa) by the University of Calabar.
Financial Times of London named him a Great Reformer.
Federal University of Agriculture, Makurdi honoured him with a D.SC (Honoris Causa).
Commander of the Order of the Federal Republic (CFR) – Nigeria’s third-highest national honour.
Global Banker’s Award in London – 2006
Several international media institutions including The Banker Magazine published by the Financial Times of London named him the Global and African Central Bank Governor of the Year – 2005, 2006 and 2007.
Red Cross awards for his contributions to the development of the society – 2018.

Entrepreneurial Lesson From Charles Soludo

As an entrepreneur, once you know what you want, start working towards achieving it. Take the necessary step and courses that will put you at the forefront of your career. Do not ever stop studying to stay relevant and get better.

Charles Soludo knew he wanted to be a seasoned economist, so he started working on achieving his dream from his undergraduate days, and he didn’t allow anything to deter him.

Also, do not limit your horizon or undermine your potentials, always go all out to achieve your dreams. Strive to be a problem solver, it is in being a problem solver that the world will notice you. Charles Soludo always sought to solve the economic problems of Nigeria and doing so, propelled him to a world success.