Professor Chuma Soludu has proven the nay sawyer wrong. The current global
financial crisis has stood as a litmus test that the recapitalization was a
life saver for Nigeria.
It is true that people resist change but it is compounded when it is base
on an intellectual complex. The fact is that when people cannot operate at
your level they would quickly give you a name to justify their handle on
the situation. Finally the global financial crisis has turned out be a
litmus test for the bold recapitalization program.
On this note the National Assembly has now seen that Professor Soludo was
simply ahead of the game when he suggested the establishment of Asset
Management Company to buy up all the junk assets to free the Nigeria banks
from going under. Second the President was also wrong when out of foolish
pride and mild ignorance about the financial complexities stopped the
currency re-nomination. That move would have equally added value to the
recapitalization program and extended cover for the Nigerian Banks.
Nigeria owes Professor Souldu a big round of applause for his vision and
confidence even when the world was in the dark about what was yet to come.
Who knows what could have happened to Nigeria Financial Market but for his
leadership and able team. Let us not forget Dr. Mrs. Ngozi Okonjo who was
also an architect of this program this is what leadership is all people.
Unfortunately, politics is a lose cannon and any fool can get up today and
become a politician so long as you have a sponsor. It is against this back
ground that most members of the National Assembly are grossly ignorant to
deal with the problem confronting us. We have the money we have the talents
but the wrong talents are put in place to perform what is above their
purview hence they only shout at each other and look out for the
opportunity to set up a probe on every thing to steal and stash away money.
Professor Chuma Soludu has proven the nay sawyer wrong. The current global financial crisis has stood as a litmus test that the recapitalization was a life saver for Nigeria.
It is true that people resist change but it is compounded when it is base on an intellectual complex. The fact is that when people cannot operate at your level they would quickly give you a name to justify their handle on the situation. Finally the global financial crisis has turned out be a litmus test for the bold recapitalization program.
On this note the National Assembly has now seen that Professor Soludo was simply ahead of the game when he suggested the establishment of Asset Management Company to buy up all the junk assets to free the Nigeria banks from going under. Second the President was also wrong when out of foolish pride and mild ignorance about the financial complexities stopped the currency re-nomination. That move would have equally added value to the recapitalization program and extended cover for the Nigerian Banks.
Nigeria owes Professor Souldu a big round of applause for his vision and confidence even when the world was in the dark about what was yet to come. Who knows what could have happened to Nigeria Financial Market but for his leadership and able team. Let us not forget Dr. Mrs. Ngozi Okonjo who was also an architect of this program this is what leadership is all people.
Unfortunately, politics is a lose cannon and any fool can get up today and become a politician so long as you have a sponsor. It is against this back ground that most members of the National Assembly are grossly ignorant to deal with the problem confronting us. We have the money we have the talents but the wrong talents are put in place to perform what is above their purview hence they only shout at each other and look out for the opportunity to set up a probe on every thing to steal and stash away money.