Book on banking consolidation in 2004/2005 to be launched in Lagos

The book, The Power of One Man: How Soludo-engineered consolidation transformed Nigerian banks into global players, will be launched in Lagos at 11am on July 6, 2024.

The book comes exactly 20 years after the revolutionary banking reforms that culminated in the emergence of 25 banks that had bolstered their capital base to a minimum of N25 billion. The book will be launched at Eko Hotels and Suites, Victoria Island, Lagos, Nigeria.

Written by Ray Echebiri, a seasoned journalist and economist, the book lucidly captures the chain of events in the Nigerian economy, and the banking industry in particular, that led to the banking consolidation of 2004/2005, and what happened during and immediately after the exercise. It also captures in no uncertain terms how banking consolidation transformed the Nigerian banking industry and placed it on the same pedestal as the banking industry in regions such as America, Europe and Asia.

Cover: The power of one man: how Soludo-engineered consolidation transformed Nigerian banks into global players

The Power of One Man will be reviewed by a seasoned journalist, author and entrepreneur, Azu Ishiekwene, Senior Vice President and Editor-in-Chief of Leadership Newspapers.

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The book launch will be chaired by Professor of Economics Akpan Hogan Ekpo. Mr. Ekpo served 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 Directors of the Central Bank of Nigeria, Director General of the West African Institute of Economic and Financial Management and consultant to many multilateral financial institutions and organizations.

The book launch event will be attended by VVIPs including Olusegun Obasanjo, during whose administration as President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, banking consolidation was implemented; Chukwuma Charles Soludo, Governor of Anambra State, who initiated and led the 2004/2005 banking consolidation; Babajide Sanwo-Olu, Governor of Lagos State, whose state was the scene of banking consolidation.

Also expected to attend the event are the Governor of the Central Bank of Nigeria, Olayemi Cardoso; Ernest Ebi, former deputy governor of the Central Bank of Nigeria; other CBN deputy governors who served under Professor Soludo; eminent bankers, captains of industry, government officials, members of academia and media executives.

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