Tinubu hails Soludo’s banking reforms amid initial doubts

DDM News

President Bola Ahmed Tinubu has lauded the leadership of Anambra State Governor, Charles Soludo, for his transformative role in the consolidation of Nigerian banks during his tenure as the Governor of the Central Bank of Nigeria (CBN).

Diaspora digital media (DDM) correspondent present at the event report that  Tinubu specifically praised Soludo for achieving this major feat despite facing significant opposition, a move that has had lasting positive effects on the Nigerian banking sector.

Speaking during a media interview, Tinubu shared a personal reflection on leadership, drawing a comparison between Soludo’s actions and other global success stories.

He cited Dubai as an example of a place that was once a desert but has now become a global business hub, all thanks to one visionary leader.

Tinubu noted that when Soludo made the decision to consolidate the Nigerian banking sector, there was widespread skepticism, with many considering the move to be impossible.

However, under Soludo’s leadership, the consolidation was successfully carried out, which Tinubu credits as a significant improvement for Nigeria’s financial landscape.

The President also reflected on his own experiences in Lagos State, where his administration faced similar doubts when it embarked on ambitious infrastructural projects, such as taming the Atlantic Ocean.

According to Tinubu, despite the naysayers, the administration remained focused and determined, eventually achieving success.

He extended these sentiments to Anambra, acknowledging the state’s immense potential and emphasizing that with Soludo at the helm, the vision for further development in the region could be accelerated.

Further commending Soludo, President Tinubu highlighted the academic contributions of the Anambra governor, particularly his recent commissioning of the Emeka Anyaoku Institute for International Studies and Diplomacy at Nnamdi Azikiwe University in Awka.

Tinubu expressed his appreciation for Soludo’s initiative to honor past and present heroes of Nigeria.

Regarding Soludo’s political maturity, Tinubu also praised the governor for his gesture in naming the road leading to the airport after his immediate predecessor, a symbol of respect and continuity in governance.

In his address, Tinubu acknowledged the security challenges faced by Anambra State but reassured residents that the federal government would continue to offer support.

He commended the Anambra State government for its proactive approach to enhancing security and assured the public that both the federal government and state would collaborate to address these challenges.

In response to the President’s remarks, Governor Soludo expressed his admiration for Tinubu’s governance style, particularly his focus on infrastructure development and fostering national unity.

Soludo went on to highlight the significant investment his administration had made in the rehabilitation of federal roads across Anambra State, totaling approximately 172 billion naira over the past three years.

He credited much of this revitalization to President Tinubu’s leadership, which, according to him, has inspired positive changes at sub-national levels throughout the country.

Charles Soludo, a renowned economist, served as the Governor of the Central Bank of Nigeria from 2004 to 2009.

During his tenure, he spearheaded the consolidation of the banking sector, a major policy initiative that reduced the number of banks in Nigeria but strengthened their capital base.

This move, although controversial at the time, is now regarded as a key turning point for the Nigerian banking industry.

Soludo’s tenure as CBN governor is remembered for this bold step, which many believed was impossible but ultimately led to a more robust banking sector.

Bola Tinubu, the President of Nigeria, was formerly the Governor of Lagos State from 1999 to 2007.

His tenure saw significant infrastructural projects, including the creation of a coastline barrier to prevent the erosion of Lagos’ coastline.

His leadership style has been marked by ambitious projects and an emphasis on transformative development.

This recent exchange between Tinubu and Soludo not only highlighted their mutual respect but also underscored the broader theme of leadership and development within Nigeria.

It shows how visionary policies at the state and national levels can drive lasting progress.

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