Charles Chukwuma Soludo
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Charles Chukwuma Soludo

Charles Chukwuma Soludo
Governor of the Central Bank of Nigeria

29 May 2004 - 29 May 2009
PresidentOlusegun Obasanjo
Umaru Yar'Adua
Joseph Oladele Sanusi
Sanusi Lamido Sanusi
Personal details
Born28 July 1960 (1960-07-28) (age 59)
Aguata LGA, Anambra State
OccupationEconomics professor

Charles Chukwuma Soludo, CFR (born 28 July 1960a) is a Nigerian economics professor and a former Governor and chairman of the board of directors of the Central Bank of Nigeria (CBN). Chukwuma was named Governor on 29 May 2004.[1] Charles is also a member of the British Department for International Development's International Advisory Group.



Prof 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). Chukwuma 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.[2][3][4]

Soludo is a core professional in the business of macroeconomics. Charles obtained his three degrees and then professorship at the University of Nigeria in Nsukka, Enugu State. Soludo 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.[4][5]

Chukwuma 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. Charles has co-authored, co-edited and authored about ten books on this subject matter.[5]

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.


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".[6] Chukwuma hopes to see Nigeria become Africa's financial hub,[7] and considers microfinance important to the federal government's economic policies.[8]

Appointment as a member of the Economic Advisory Council (EAC)

On 16 September 2019, the president of Nigeria, Muhammadu Buhari, appointed him as a member of a newly formed 8-member Economic Advisory Council (EAC), that will be reporting directly to the President.[9]


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.[10] 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[who?] 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 2011 election had called on aspirants to work with respected economists like Soludo towards an acceptable Economic Plan.[11]

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 Progressives Grand Alliance in preparation for the November 2013 governorship race in Anambra state. In mid August 2013, he along with five other eminently qualified aspirants were disqualified by the APGA Screening Committee.[ ]


  • "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)
  • "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)
  • "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.)
  • "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
  • Soludo, Charles Chukwuma (1998). Macroeconomic Policy Modelling of African Economies. Acena. ISBN 978-2114-29-4.
  • "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.
  • "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).[12]


  1. ^ "Board of Directors". Central Bank of Nigeria. Retrieved 2008.
  2. ^ Contributors: Centre de recherches pour le développement international Archived 24 October 2006 at the Wayback Machine
  3. ^ "Archived copy". Archived from the original on 4 March 2007. Retrieved .CS1 maint: archived copy as title (link)
  4. ^ a b Soludo Appointed CBN Governor, Asia Africa Intelligence Wire, 30 April 2004.
  5. ^ a b "N25bn capital base: Senate drills Soludo" BNW News: Biafra Nigeria World News.
  6. ^ Adesida, Seun (4 January 2008). "There will be fewer banks in 2008 -Soludo". The Sun News On-line. The Sun Publishing. Archived from the original on 29 February 2008. Retrieved 2008.
  7. ^ Omonkhanlen, Odidison (31 December 2007). "Financial sector reforms and the judiciary". Nigerian Tribune. African Newspapers of Nigeria. Archived from the original on 31 December 2007. Retrieved 2008.
  8. ^ Atitebi, Tajudeen (7 January 2008). "Microfinance banks take centre stage in". Vanguard Online Edition. Vanguard Media. Retrieved 2008.
  9. ^ "Soludo, Rewane, Salami named in Buhari's new economic team". Punch Newspaper Nigeria. 16 September 2019. Retrieved 2019.
  10. ^ "ANAMBRA GUBER ELECTION: The major contenders". Vanguard News. 5 February 2010. Retrieved 2020.
  11. ^ "Can we have real contest here?". Retrieved 2017.
  12. ^ Archived 22 July 2011 at the Wayback Machine

External links

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