ECONOMIC MELTDOWN, COLLECTION OF 5M SIGNATURES FOR REAPPOINTMENT OF CBN GOVERNOR, SPONSORED ATTACK ON SOLUDO AND ONGOING PLOT TO DESTROY THE ECONOMY/MR. PRESIDENT ECONOMIC DEVELOPMENT EFFORTS.
THE MOMENT OF TRUTH IS HERE.
Gentlemen of the Press, we at CONSTITUTIONAL DEMOCRACY INITIATIVES, CDI (a body of new Nigeria young nationalist committed towards deepening the core values of democracy, sound national economic development and constitutional governance in Nigeria) salutes you all for making out time to honour this quick invitation to join us at this world press conference aimed at finding lasting solution to Nigeria’s economic growth. Today, history will reserve a place for u all for been part of the struggle to save our nation from been over ran by a few clique of failed desperadoes. We thank you all for coming.
The economic developments across the globe is no longer news to us but what is of news to us is the ongoing plot to destabilise the Nigeria Nation and shake its economy by a few selfish Nigerians all in a bid to score cheap political point. It was as a result of all these desperate moves including smear campaign to discredit the CBN leadership and destroy the economy that the leadership of the CDI convened an emergency central working committee meeting in Rivers State on Sunday 22nd March, 2009 at Le’ Meriden Hotel and unanimously resolved and wish to state as follows.......
That the attention of the CDI has been drawn to an ongoing move to discredit Mr. President and the CBN committed efforts towards consolidating the ongoing reforms in the economic sector. The plotters of this economic coup are not only targeting the Nigerian people as their first victims but the whole plot is aimed at discrediting the Government of Yar’adua.
It is no longer secret that disgruntled politicians, failed banks chiefs and overnight turned economic experts have commenced a nationwide smear campaign targeted at the political and economic development sector of Nigeria which is the core foundation of the President dyar’adua 7 point agenda. This economic coupist and their pay masters have outlined the use of rumours, disjointed facts, sponsored media attack and press statement and circulation of alarming text messages to run down the economic sector of Nigeria. They believe by the time they are down, the banks will look unsafe, the consolidation gains will be reversed, the CBN will be distracted, The central bank governor and his efforts and personality must have been tarnished and the nation will run into an economic grave. But can they succeed? The answer is no. Nigerians can see their footsteps and their masked paymasters.
We wish to alert Nigerians on the emergence of a cabal which have set aside over 200 million naira fund to mount a smear stop Soludo campaign. The paid agents will in the next few days increase the tempo of their desperate and ridiculous personal attacks on the CBN Governor and the economy. They have adopted more crude methods, with all kinds of fabrication, insinuations and blackmail.
That we have equally uncovered their plot to instigate the collapse of the banking sector which is part of the plot to discredit the CBN Governor with the hope of destroying the consolidation gains and possible takeover of some commercial banks by creating panic in the banking sector which will lead to mass withdrawal of fund by depositors and the eventual collapse of the targeted banks. This plan is solely driven by a selfish interest to stop Soludo’s reappointment which they thought that when they create tension, blackmail the CBN governor, our President will act in their favour and drop the idea of reappointing Soludo but we are assuring this economic vampires of one thing, That we are in a new Nigeria which is a great nation with good people and a patriotic president, Mr President will always stand on the part of what is good for Nigeria not what is good for a few overnight lovers of our economic growth. We at CDI and majority of Nigerians cannot keep quiet while a few imposters destroy our economy and rubbish one of our national champions.
That the plot to harm the economy is part of the general plot to instigate civil unrest and destabilisation of president yar’adua leadership commitment towards finding lasting solution to our nations mirage of economic, constitutional and political problems. The president have done well in the march towards a sound and strong foundation for constitutional governance and the CBN have over the few years shared Mr. President vision towards an accelerated economic development and hence as 2011 election approaches, brief case politicians and failed politicians with dubious selfish plan have gone hay wire with unending plots and firing from all front to make the political field, economic sector etc unsafe.
They have penetrated the labour unions, they have penetrated the opposition voices and parties, they have penetrated the socio cultural/tribal association, They have recruited a known insurance impostor who have started throwing all kinds of infantile tantrums that reveals the shallowness of his intellectual make up and emotional stability, They have gotten the Arewa consultative forum, they have gotten the Nigeria Labour Congress, they have gotten Mr. Jimoh Ibrahim who of recent started suffering from the diahiriah of the mouth with little or no knowledge of our nation’s economic workings and now they are digging at the foundation of the nation’s economic lifeline. The plot will fail
That the CDI wish to commend the role been played by the financial and economic management team of the President and the CBN in ensuring that the ongoing economic meltdown does not cripple Nigeria economy completely.
That we at CDI condemn the irresponsible statement made by Mr. Jimoh Ibrahim over the ongoing efforts of the CBN Governor to consolidate the economy. Mr. jimoh has in his pursuit of blind and unrealisable selfish desires clashed with the interest of millions of Nigerians. Even though every Nigerian know the antecedent and background of jimoh Ibrahim and how he came to his acclaimed business level, his tribal attack on the CBN Governor is the least action that even a fool cannot indulge in. His statement that CBN is pursuing a Biafran agenda is irresponsible, callous, wicked, and unacceptable and a treasonable statement. Jimoh exposed himself as an economic illiterate when he advocated for more printing of the naira note as a way out for the economic meltdown. Maybe as a brother to Robert Mugabe, jimoh should leave the Buhari campaign he is funding which have always collapsed and relocate his business to Zimbabwe to benefit from the Mugabe money printing solution which has wrecked the economy of the southern African nation.
The CDI wish to call for the immediate arrest and prosecution of Jimoh Ibrahim for instigation of ethnic strife. His statement is part of the game plan of the economic coup plotters to divide the nation on tribal lines and help institute fear and loss of confidence in the economy so that he can benefit from the loss. We know he is a man who loves trading in controversial assets and maybe he has exposed himself unknowingly as the ring leader of the masked men who wants to use smear campaign/propaganda to make the banks to go distress so that they can buy into them in furtherance of their selfish economic pursuit. The arrest of Jimoh Ibrahim by the Nigerian police is of great essence to the future economic well being of Nigeria.
REAPOINTMENT OF CBN GOVERNOR FOR ANOTHER TERM IN OFFICE
The CDI after a detailed study of the status of the Nigeria economy, the achievements and policy working documents of the current CBN leadership, the ongoing economic meltdown, the effectiveness and credibility of the CBN Governor and the need to consolidate the ongoing reforms in the banking industry, resolved to state as follows.....
That It will be recalled that in a bid to guarantee capital adequacy, liquidity and zero tolerance regulatory frameworks in the Nigerian banking sector that Prof. Charles C. Soludo initiated the Banking Consolidation programme in July 6, 2004, which was concluded in December, 2005.
The exercise saw 75 banks collapsed into 25 strong banks with larger capital base of over $5billion each within a short span of 18 months from 89 banks with less than $3billion. This enhanced liquidity in the banking sector, forcing interest rate down and raised credit to private sector from less than 5% to 40%. As a result, non-oil sector grew by 8.5% in 2005. The successful consolidation of the sector helped to minimize cyclical distress among the banking sector and improved corporate governance within the banks. It also boosted the capital market with additional N500 billion, the highest non-oil related investment ever mobilized within a space of 18 months and raised share of market capitalization by banks from 30% to 50%. Interestingly, the cost of Liquidation was less than 1% of GDP, the lowest ever in the history of banking sector consolidation in the world
We wish to state here, that in view of the ongoing transformation of the Nigerian economy and the urgent need to drive the 7 point agenda to a positive conclusion, the need to reappoint Prof Charles Soludo as CBN Governor for another term is paramount.
It is our belief that Mr. President’s love for the economic growth of Nigeria transcends the tribal and selfish views of a few desperadoes who wants the CBN governor to be denied another constitutional term in office. Whenever the tenure of the CBN Governor ends, the President will show Nigerians once again his belief in the constitution and genuine development of Nigeria as one indivisible entity. We are not campaigning for reappointment of Soludo for the fun of it but we are of the view that since luck have it on Nigerians that he still have eligibility to be reappointed if our dear President so desires going by the CBN Act and coupled with the fact that he has done well and we are at a challenging economic period which requires a tested hand, his reappointment will be a boast towards our march to economic greatness and continuity in policy formulation and implementation. This recognition of Soludo's achievements is not because he is the only one who can do it, but because he is only one who has in fact done it. Action speaks louder than words and the sounds coming out of the CBN under the stewardship of Soludo has been deafening. Inflation that was rampant before is now single-digit. The CBN reform programme has many parts of which banking consolidation was only one. Consolidation was part of what the CBN termed "Phase One" (which has a 13-point agenda). He should be allowed to carry on and to do so with the full public backing of the Presidency. The current global recession poses great challenges to every nation. That’s why we are saying that a general should not be changed in the middle of a battle.
Gentlemen of the press, in view of all the above, I hereby declare open the commencement of collection of ‘’5 million Nigerian’s support reappointment of Soludo signature’’. This exercise of collection of Nigeria people’s signature is aimed at showing the general comfortability of Nigerians with the economic gains recorded by the current CBN leadership led by Prof Soludo and an honest show of the desires of Nigerians to see to the realisation of the ongoing economic transformation. The 5 million Nigerian’s signature to support Soludo’s reappointment will be simultaneously collected in the 36 states of the federation. The collection agents as i speak to u now are ready to commence this exercise from today that I have flagged off this patriotic exercise. As the signature collection progress, we will from time to time brief the press on the progress. The 5 million signature when fully collected will be shown at a world press conference before submission to the Mr. President as backup to the Nigerian peoples request for a consolidation of the gains of the economic reforms and 7 point agenda with the reappointment of Prof. Soludo. The CDI will within the shortest possible time place advertorials in major National newspapers on more details for the sending in of support signatures. While the following contact email and numbers (constitutionaldemocrats@yahoo.com, 08034913080, 094839556 and 08065617166) are already dedicated for the collection of the data of those who wants to pledge their backing already.
Finally, as we call on Mr. President whose commitment to Nigeria’s economic growth is unquestionable to exercise his presidential powers and consider our plea for reappointment of soludo, we are applauding soludo’s managerial skills in steering through the reforms, in sticking to his timetable and his unwavering self-confidence and composure in the face of scepticism and widespread discomfiture. The fact, however, is that he pushed his conviction through in a difficult terrain and we applaud his courage.
WE salute the president economic team, Nigerians, expert, the press and financial sector players for their commitment to the economic progress and accelerated national development.
God will bless you all.
NIGERIA IS A GREAT NATION WITH GOOD PEOPLE, LETS BUILD TOGETHER FOR THE FUTURE.
IKENGA IMO UGOCHINYERE (EXECUTIVE SECRETARY, CONSTIUTIONAL DEMOCRACY INITIATIVE)
Barrister O.N Kevin (Director of strategy and mobilization)
Collection of 5m signatures for reappointment of cbn governor 
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