Prof. Charles Chukwuma Soludo a Nigerian, was born on the 28th of July 1960. He hails from Aguata Local Government Area of Anambra State, Nigeria. He proceeded to the University of Nigeria, Nsukka to study economics after completing his secondary school education. In 1984, he graduated with a first-class degree.
He later went on to obtain his Master’s degree (MSc) in Economics in 1987, and a doctorate (Ph.D.) 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. 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 modeling, techniques of computable general equilibrium modeling, survey methodology, and panel data econometrics, etc. Also, Charles Soludo has authored, co-edited, and co-authored about ten books.
Professor Charles Soludo became a part of 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. He later became he became the Chairman of the Central Bank of Nigeria (CBN) in May 2004, 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. 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. However, his nomination was contested by 23 of the 47 aspirants, citing a lack of transparency in the process.
After this initial rancour, 36 out of the 47 candidates, and several top shots of the PDP affirmed their support for Soludo on Wednesday, 14 October 2009. Soludo went on to lose to Peter Obi in an election which was largely considered free and fair according to major election observers. However, with his perceived solid performance as CBN governor, Soludo remains a respected economic policy authority in Nigeria. Political commentators, while urging an issue-based campaign in the 2011 election, had called on aspirants to work with respected economists like Soludo towards an acceptable economic plan 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. Afterward, he joined the All Progressive Grand Alliance (APGA) in preparation for the November 2013, Anambra state governorship election.
Mr. Chukwuma Charles Soludo is Chair of the African Heritage Institution and former Governor of the Central Bank of Nigeria (2004-2009). He also served as the Chief Economic Adviser to the President of Nigeria and was the CEO of the Nigerian National Planning Commission from 2003 to 2004. He was the Founding Chair of the African Finance Corporation and has been a consultant to 18 international organizations including the World Bank, the IMF, UNCTAD, European Union, African Union, USAID, UKDFID, ADB, IDRC Canada; United Nations; UNIDO, among others. He was the founding Executive Director of the African Institute for Applied Economics, Enugu (renamed the African Heritage Institution), and currently serves as Chair of its Board of Directors since 2008.
Mr. Soludo has had a distinguished career as an academic and has authored numerous books and articles. He was a professor of Economics at the University of Nigeria; visiting professor at Swarthmore College, USA; Smuts research fellow at Cambridge University; visiting scholar at the University of Warwick and Oxford University; visiting fellow at Brookings Institution, Washington, D.C.; research fellow at UN-Economic Commission for Africa, Ethiopia; visiting scholar at IMF research department, among others. He was appointed by the President of the UN General Assembly to the United Nations Commission of Experts on the Global Economic and Financial Crisis during 2008 and 2009 chaired by Professor Joseph Stiglitz. He served as Alternate Governor at the IMF and World Bank’s Board of Governors during 2004 and 2009. For his accomplishments in government, Professor Soludo has earned scores of national and international awards, including being the triple winner of the African and Global Central Bank Governor of the year, 2005, 2006, and 2007 (by the FT-Banker; Euromoney, Annual Meetings Daily), and the Financial Times of London has described him as “a great reformer.”
The Federal Government of Nigeria has conferred the third highest national honor (Commander of the Order of the Federal Republic, CFR) on him in 2006. His Alma Mater, the University of Nigeria in 2004 honored him with a special award as the “Most Distinguished Alumnus of the University”. In January 2011, he was appointed a member of the Board of Directors of the South Centre, Geneva; served as a member of the Chief Economist Advisory Council (CEAC) of the World Bank, 2005-2012; member of the IMF External Advisory Group for the Triennial Surveillance Review in 2011; and member of the Technical Advisory Group, Natural Resource Charter, Oxford. Mr. Soludo is a consultant and strategic adviser to institutional investors in Africa; and member or Chair of Boards of several private companies.
Soludo has been a visiting scholar at the International Monetary Fund, the University of Cambridge, the Brookings Institution, the University of Warwick, and the University of Oxford as well as a visiting professor at Swarthmore College (USA). He has also worked as a consultant for several international organizations, including The World Bank, the United Nations Economic Commission for Africa, and the United Nations Development Programme. Soludo is a core professional in the business of macroeconomics. He obtained his three degrees and then professorship at the University of Nigeria in Nsukka, Enugu State. Soludo graduated with a First Class Honours degree in 1984, an MSc Economics in 1987, and a Ph.D. in 1989, winning prizes for the best student at all three levels.
Chukwuma has been trained and involved in research, teaching, and auditing in such disciplines as multi-country macro-econometric modeling, techniques of computable general equilibrium modeling, survey methodology, and panel data econometrics, among others. He studied and taught these courses at many universities, including Oxford, Cambridge, and Warwick. Soludo has co-authored, co-edited, and authored several books on this subject matter.
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, USA.
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
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 honored him with a D.SC (Honoris Causa).
· Commander of the Order of the Federal Republic (CFR) – Nigeria’s third-highest national honor.
· 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.
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 world success.