Allegations and Criticisms Surrounding Soludo’s CBN Tenure

Several allegations and criticisms have been raised about Charles Soludo’s time as Governor of the Central Bank of Nigeria. In 2013, the EFCC questioned him over claims that an Australian currency-printing firm paid bribes connected to polymer banknote contracts between 2006 and 2008. The agency later cleared him of wrongdoing. In 2016, Femi Falana called for an investigation into claims that $7 billion in external reserves had been allocated to local banks in 2006. Separately, Ngozi Okonjo-Iweala criticised banking supervision during Soludo’s tenure, arguing that weak oversight contributed to bad loans that later required intervention through AMCON.

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