Bank consolidation: I received 19 written threats to my life – Soludo

Prof. Chukwuma Soludo
Prof. Chukwuma Soludo

Former Governor of the Central Bank of Nigeria, CBN, Prof. Charles Soludo on Sunday said he received 19 written threats to his life when he kick-started the bank consolidation exercise.

Soludo spoke with newsmen in Anambra State where he is vying for governorship seat under the platform of the All Progressives Congress, APC.

Soludo said he is a very impatient person to see change happen and that he is passionate in anything he focused on.

He said at that time, no bank in Nigeria was in the top 1,000 banks in the world and that if one needed to make an investment of $500m, one had had to go through the then 39 banks and that it was an impossible task.

Soludo added that if one wanted to borrow abroad, there was no bank here to guarantee that, and that he came to the realisation that if “we wanted to build a private sector-driven economy, it was not possible with the rickety ‘mama and papa’ banks, which could not guarantee even N3m loan. We, therefore, needed to pull down the house and rebuild it.”

He said since he decided to carry out the bank conslidation, there was nothing he did not see, as he received 19 written threats to his life.

According to him, there were attempts to kidnap his children in Offa in Kwara State.

“So, it was a very brutal revolution. I had to evacuate my family during the banking consolidation because when you want to uproot a system, it is usually a deadly routine,” he said.


  1. I agree. That’s what happened to Jonathan. He wanted to reform our government, constitution, federalism and the rule of law. Unfortunately he got burnt and betrayed.

What do you think?

This site uses Akismet to reduce spam. Learn how your comment data is processed.