2019: I’m Running For Presidency – Moghalu

A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has officially declared to run for the president of Nigeria in the 2019 election.

Mr. Moghalu, who announced this on Wednesday in a press conference at the Shehu Musa Yar’Adua Centre, Abuja, said a combination of military rule, oil booms and busts, and successive leadership failures of the political class have robbed the country “of what seemed our destiny at independence”.

Mr. Moghalu, 55, was born in Lagos State, South-west of Nigeria.

He is a political economist, lawyer, and former United Nations official.

He is a professor and a Distinguished Non-Resident Fellow at the Fletcher School of Law and Diplomacy at Tufts University, Massachusetts, United States.

He served as Chairman, Boards of Directors of the Nigerian Export-Import Bank (NEXIM) and the Financial Institutions Training Centre, and is the founder and President of the Institute for Governance and Economic Transformation (IGET), a new think tank based in Abuja.

Mr. Moghalu didn’t, however, mention which on political party he would stand for the election. Nigeria’s current electoral law does not allow for independent candidacy.

“My focus, for now, is the people of Nigeria and not on party platforms that have in the past been mere vehicles for capturing political power,” he said in his declaration speech.

“While I have been approached by a number of political parties, the movement that I am part of will decide which one we will join,” he said, adding that such “decision will be based on commonality of vision and the imperative of a generational shift in leadership, and we will announce this decision in the coming weeks.”

Mr. Moghalu said, “I am standing here today saying that it is time we shatter the downward spiral to nowhere.

“I am here today, standing with the 110 missing girls of Dapchi and their grieving family, and with the traumatised young women of Chibok, those with us and those still in captivity.

“I am here today standing with 180 million Nigerians, in addition to thousands of businesses struggling to share a measly 4000MW of electricity.

“I am here today standing with the 100 million Nigerians experiencing crushing poverty, living on less than 300 naira a day.

“I am here today because 33 million of our able men and women are unemployed or underemployed, nearly 15 million children are out of school, and only 60 per cent of Nigerians are literate.

“I am here today because our hospitals are understaffed and mismanaged death traps, and women are still subject to horrific prejudices and devastating early marriages.

“I am taking this stand, here and now, because Nigeria today is divided by ethnic and religious conflicts, made worse by corruption,” he said.

The former CBN chief said the Nigerian government has failed to secure the lives of citizens, and that Nigeria has lost its place in the world. “The time has come for us to fix this,” he said.

He said Nigerians are “collectively exhausted by politicians who continually fall in and out of alliances with each other and care nothing for the ordinary Nigerian.

“They aggravate our fears in the hope that we will continue to keep them in power even though offer nothing new.”


President Muhammadu Buhari is expected to seek re-election on the APC platform, although he is yet to announce it.

Nigeria Has No Police Force – Ex-CBN Dep Gov

A former deputy governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has said that Nigeria does not have a police force in practice.

Mr. Moghalu, a professor, made this known on Monday at the launch of his new book, Build Innovate and Grow, BIG.

The book launch event is currently holding at the Civic Center, Victoria Island, Lagos.

Prof Kingsley Moghalu

Commenting on the security situation in the country while reading from the book, Mr. Moghalu noted that the Nigerian police is grossly underfunded, making it less effective in securing the country.

The former CBN chief noted that while the nation needs more police officers, it currently has about 350,000 police personels many of whom according to him “are guarding Very Important Persons, VIP”.

“In practice,  we really don’t have a Police Force in this country,” he said.

The author also argued that the failure of the police in securing the nation is why Nigeria is ‘militarised’.

Ex-CBN Chief, Moghalu To Run For Presidency

A former Deputy Governor of the CBN, Prof. Kingsley Moghalu, announced on Monday that he was consulting widely to run for the presidency in 2019.

Moghalu told political correspondents in Lagos that time had come for technocrats, intellectuals and experienced people to take power from Nigeria’s career politicians.

He said that he would not be deterred from joining the race, in spite of speculations that 2023 was the year slated for Igbos to have a shot at the presidency.

Moghalu argued that politics in Nigeria should be detribalised for Africa’s most populous nation to grow and take its rightful place in the comity of nations.

“It is the turn of any competent Nigerian to aspire for the post of presidency because career politicians have failed Nigeria.’’

He said that zoning, which had been used by the major political parties, might have been relevant in the past but that it was no longer necessary because competence should be placed above tribe in present day Nigeria.

“Zoning was an internal arrangement by political parties that was not constitutional. It should no longer matter where the president comes from.

“The future of Nigeria rests in technocratic interventions. We need thinking people that will take Nigeria from the politics of stomach infrastructure to politics of mental infrastructure.’’

The former CBN chief said that the first part to progress for Nigeria was for the people to begin to think differently and beyond tribe in choosing those who would lead them.

Speaking on a second term for President Muhammadu Buhari, Moghalu said that the president had constitutional rights to seek re-election.

“I don’t fathom how anyone can say the president should not run for a second term. It is his choice, the decision on who becomes Nigeria’s president in 2019 rests with Nigerians. ‘’

On the nation’s economy, the economist pointed out that “the economy was in a delicate situation before the present administration.

“The handling of the forex crisis though was misguided. The drop in oil prices actually affected the value of our currency but government should have simply allowed the naira to find its true value which would have reduced the inflation rate.’’

He said that Nigeria must look beyond continued dependence on oil and encourage independent institutions to flourish.

Moghalu, however, advised Nigerians to eschew docility and become more forceful in demanding accountability from their leaders at all levels of governance.

Moghalu, who served as CBN deputy governor from 2009 to 2014, is a political economist, lawyer and a former United Nations official.

He was also a professor of practice in international business and public policy at the Fletcher School of Law and Diplomacy at Tufts University in Massachusetts, U.S.

Born on May 7, 1963, Moghalu is a graduate of the London School of Economics. He also read Political Science at the University of Nigeria Nsukka.