The highly anticipated unveiling of the book: “The Power of One Man: How the Soludo-Engineered Consolidation Transformed Nigerian Banks to Global Players” is set for unveiling in Lagos on July 6, 2024, at 11am. This landmark event, marking exactly 20 years since the revolutionary banking reforms, will be held at the prestigious Eko Hotels and Suites, Victoria Island, Lagos, Nigeria.
Authored by Dr. Ray Echebiri, a renowned journalist and economist, this insightful book meticulously chronicles the pivotal events within the Nigerian economy, particularly focusing on the banking sector, that led to the landmark consolidation of 2004/2005. It delves into the intricate processes during and following the reforms, illustrating how these transformative measures catapulted the Nigerian banking industry onto the global stage, equating it with those of the Americas, Europe, and Asia.
The book will be critically reviewed by Mr. Azu Ishiekwene, a distinguished journalist, author, and entrepreneur, currently serving as the Senior Vice Chairman/Editor-in-Chief of Leadership Newspapers. His profound expertise in journalism and economics promises a thorough and engaging review.
Presiding over the event as Chairman is Professor Akpan Hogan Ekpo, a distinguished Professor of Economics. Professor Ekpo’s illustrious career includes roles such as Vice Chancellor of the University of Uyo, Member of the Monetary Policy Committee of the Central Bank of Nigeria, Member of the Board of the Central Bank of Nigeria, Director General of the West African Institute for Financial and Economic Management, and consultant to numerous multilateral financial institutions and organizations.
The event is set to be graced by an array of esteemed VVIPs. Among them is Chief Olusegun Obasanjo, whose tenure as President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria saw the implementation of the groundbreaking banking consolidation. Also in attendance will be Professor Chukwuma Charles Soludo, the visionary Governor of Anambra State, who masterminded and facilitated the 2004/2005 banking consolidation.
Other notable guests include Mr. Babajide Sanwo-Olu, Governor of Lagos State, which served as the epicenter of the consolidation efforts; Dr. Olayemi Cardoso, the current Governor of the Central Bank of Nigeria; Mr. Ernest Ebi, former Deputy Governor of the Central Bank of Nigeria; as well as other Deputy Governors of the CBN who served alongside Professor Soludo. The event will also attract eminent bankers, captains of industry, government officials, academic scholars, and leading media executives.
This unveiling not only celebrates the launch of a significant literary work but also commemorates a critical milestone in Nigeria’s banking history. The consolidation, driven by visionary leadership and strategic reforms, has played a crucial role in stabilizing and strengthening the financial sector, fostering economic growth, and enhancing Nigeria’s global financial standing.
The book provides a comprehensive narrative of this transformation, offering readers an in-depth understanding of the strategies and decisions that reshaped the Nigerian banking landscape. Through this work, Dr. Echebiri captures the essence of how one man’s vision and determination can drive profound change, positioning Nigerian banks as formidable players on the global stage.