SOLUDO MESSED UP
Almost every politician likes to be in the spotlight always. When a politician “pays” to come to the media, he expects to be the center of attention. We can therefore understand Soludo’s outburst on Channels TV. However, an intelligent politician knows how to divert such questions intelligently or make use of it to his benefit.
I am sure Soludo is intelligent and has been a politician since he was removed as the CBN Governor. Which means, he could’ve handled that question and situation intelligently. Therefore, his outburst obviously comes from a place of hate – premeditated hatred. If not, he would’ve stopped after he said that he came to talk about his 2023 budget and not to discuss the presidential election.
Let’s consider Soludo’s outburst under different perspectives:
1. Consistency – when Soludo took over as the Governor, he began criticizing Obiano’s government that handed over to him for leaving him with a heavy debt burden. We could understand from those statements and complaints that he thinks he would’ve started off better without such heavy debt burden. The same Soludo came to Channels TV to say that PO’s investment, more than 8 years prior, is worth close to nothing. Does this sound like a consistent human being? He quickly twisted his position when it came to PO and seemed to claim that it was a crime for PO to have left monies and investments behind.
2. Value of the Investment – at the time PO made that investment, the value of Naira to a Dollar averaged N150/$. $5,000,000 (investment) was equivalent to N750,000,000. If the investment is worth N2,000,000,000 today, under the circumstances PO made the investment, it would worth more than $13,000,000. If we add the dividends the company has paid the State since that investment, we will have a different net present value. The subsequent mismanagement of the national economy by Buhari and the APC government saw Naira crash to as low as N925/$. Will any rational human blame PO for our stupidity in voting in a clueless president and criminal empire called APC? PO left a shareholding percentage of 4.7 but his successor didn’t respond to the various rights issues from the company, making the holding drop to 1.4%. Soludo seemed oblivious of these.
3. The Value of an Investment to a Governor – as a Governor, you are much more concerned about the impact of an investment at the macro level, unlike a businessman that values the amount in his pocket or bank account. For instance, how does that investment impact unemployment rate, disposable income, inflation, tax value, etc.? Soludo seemed to stupidly value PO’s investment at just the book value. He forgot the hundreds of people directly employed by the company, and the thousands that are indirectly employed by the company. He also forgot the year-on-year tax revenue from the company, the CSR of the company in the various. communities, etc. This shows that hatred can blind even the most intelligent of us.
4. Soludo and Accountability – how accountable is Soludo? Is Soludo attacking PO because he is the direct opposite of PO in terms of accountability? People tend to destroy things that are better than them so that a comparison wouldn’t arise. When Soludo was the CBN Governor, he initiated a project – to build an ultramodern hospital, in memory of his mother, in his community. There was massive fundraising for that project. Most of the nation’s bank CEO’s and many influential Nigerians donated massively to that project. More than 12 years on, no one talks about the project, or the humongous amount that was raised, or what Soludo did with the money. No wonder he is threatened by PO.
5. Soludo’s Testimonial as the CBN Governor – by that outburst, Soludo seemed to suggest that PO was bad at governance. But let’s consider Soludo’s testimonial. The only testimonial Soludo flaunts today is that he was once a CBN Governor. Let’s consider that testimonial critically. He presided over massive corruption that went on across most of the banks. Just immediately he exited as the CBN Governor, more than 9 banks were critically in red. If he claims to be the Mr. Know-it-all, how come he ran the Nigeria banking system aground, even with the massive capital inflow to the banks during the consolidation process? Another way to assess a testimonial is what his peers had to say about him. We know what Sanusi Lamido Sanusi said about his tenure as the CBN Governor. We also know what Ngozi Okonjo Iweala said about his time in the CBN. This is the person that came out to vomit rubbish about PO.
The list can go on.
I had several personal encounters with Soludo. He courts attention and would be pissed if another person steals the spotlight. He is mad because, even as a governor and a former CBN governor, his popularity cannot match that of PO. So, like a pig, he is trying to drag PO to join him in the mud. But we are not fools, we know who PO is, and we know who Soludo is.
We now know the background of that Soludo’s hateful outburst on Channels TV.
New Nigerian Mandate (NNM)
IFEGACHI People’s Movement.
OBI-DATTI Support Groups.
12/11/22
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