The power of one man

Governor Charles Chukwuma Soludo, CFR, has one straightforward advice for members of his team in the Anambra state executive council (ANSEC): “Be that one man”. The essence of this is to aim for excellence in any role they find themselves. All drivers of the ministries, departments and agencies of government ought to be at the top of their games and must never be found wanting.

Governor Soludo gave the charge after the highly successful presentation of the book, The Power of One Man: How the Soludo-Engineered Consolidation Transformed Nigerian Banks to Global Players, written by Ray Echebiri.

Soludo was that one man who had the courage of his conviction to bring about the 2004 banking revolution in Nigeria with the support of his principal at that time, President Olusegun Obasanjo.

History was made by Soludo on both fronts as an economic adviser and CBN governor. He put to work his charge from the very beginning – to be that one man! And against the unimaginable manner of threats to his safety, he eventually succeeded in transforming the system for good. So when he recently called on his team to be “that one man” he did so out of personal experience — that it is only with that level of commitment by all, that Anambra state can become the liveable and prosperous homeland we yearn for.

As Chinua Achebe, after whom Governor Soludo renamed the Anambra Airport, wrote in his famous classic, The Trouble with Nigeria, “The trouble with Nigeria is simply and squarely a failure of leadership. There is nothing wrong with the Nigerian character. There is nothing wrong with the Nigerian land or climate or water or anything else. The Nigerian problem is the unwillingness or inability of its leaders to rise to the responsibility, to the challenge of personal example which is the hallmark of true leadership.”

Ray Echebiri, in his preface to the book, “The Power of One Man points to the significance of leadership recruitment, and the need to get it right in Nigeria. It is a sturdy allusion that if we can have other Nigerians transform the maritime industry, manufacturing industry, insurance industry, capital market, health sector, education sector, the oil and gas industry, etc. just the way Soludo did the banking industry, Nigeria will become the country of our dream, a land flowing with the proverbial milk and honey.”

Let’s recast our minds back in time to understand that the banking revolution that has come to be hailed as the “Soludo Shuffle” was not a piece of cake. It took utmost courage and derring-do for the struggling 89 banks then existing in Nigeria to be reduced to 25 global banking institutions competing on the world stage.

Before the coming of Soludo, Nigerian banks had been the laughing stock of comedians who joked about how Nigerians were reduced to carrying mats to sleep in banks because of delays. The inimitable comic actor, Lomaji Ugorji of “Icheoku” fame, was fond of asking “Where is my tally number?” as a mockery of the numbers then assigned to banks’ customers.

It’s indeed noteworthy that barely one month after then-President Obasanjo appointed Soludo as CBN governor in June 2004, the daring man who was destined to be that one man of change met the Bankers Committee and promptly released a 13-point agenda designed to turn around the country’s financial sector.

Before consolidation, all of the banks in existence in Nigeria put together could not match one South African bank. Through the efforts of Soludo, Nigerian banks were able to go global. The banks opened up offshore branches, thus becoming truly global players in the financial world. New York, Paris, London, and sundry capitals of African countries now count Nigerian banks and bankers among the top players.

Soludo’s revolution came at a personal price as he reveals: “At a personal level, undertaking the banking revolution in Nigeria came with 19 written threats to me and my family, including physical attacks.” He was forced to relocate his family abroad when the threats became unbearable. But his late father was not so lucky. The old man was abducted, beaten and left for dead. He survived but lost one eye to the brutal encounter.

Having demonstrated what a determined man can achieve, one can then imagine what a team of men can do. And that is the context of Soludo’s charge to his commissioners and heads of agencies.

To be that one man, or woman, therefore, it is necessary to heed Azu Ishiekwene, the book reviewer’s advice: “…to succeed and succeed outstandingly, one must be prepared to blow against the wind.”

Nwosu is the commissioner for information in Anambra state.