WHO IS KINGSLEY MOGHALU WORKING FOR, AND WHO AND WHAT HAS SUSTAINED HIS CAMPAIGN SO FAR?. By Terrence Onyejiaku.

The witch cried at night

The baby died in the morning.

Atiku had always been assailed on conjectures

So let’s PRESENT everyone’s facts and then allow the fertile mind to connect the dots.

Please educate me. Is there a career path to becoming CBN Deputy Governor, or is it also a political appointment like a *Ministerial Appointment?*

If the latter is true, then it is conversely factual that the beneficiar(ies) of such appointment are inexorably connected to the political horse trading that occasioned the appointment.

Prof Kingsley Moghalu served as deputy governor of financial system stability and the director of the Central Bank of Nigeria (CBN) from 2009 to 2014; he led the implementation of reforms to Nigeria’s failing banking sector.

He is a member of the  *International Islamic Liquidity Management Corporation* and non-executive director of the *Asset Management Corporation of Nigeria.*

In early 2014, *Moghalu distanced himself* from the suspended head of CBN, Lamido Sanusi. Sanusi alleged a $20 billion fraud at the country’s publicly owned oil corporation.

Moghalu expressed frustration that Samusi had overstepped his role as the head of a central bank and crossed into *political activism*.

IILMC is the corporation that brokered the Sukuk Fund that this government is using for some of its projects.

During Moghalu tenure as CBN deputy governor, the CBN invested millions of $US in IILMC in 2011.

Thus it is safe to conclude that this relationship (legitimate as it is) with IILMC spans close to a decade.

The *International Islamic Liquidity Management Corporation (the IILM)* is an international organisation established by central banks, monetary authorities and multilateral organisations to create and issue *Shari’ah-compliant* financial instruments to facilitate effective cross-border Islamic liquidity management.

Established on 25 October 2010, the IILM aims to enhance cross-border investment flows, international linkages and financial stability by creating more liquid *Shari’ah-compliant* financial markets for institutions offering Islamic financial services.

So what eloquent facts have we disclosed here?

1. Kingsley Moghalu is a member of International Islamic Liquidity Management Corporation.

2. He is a director at AMCON

3. Buhari’s Government is the only government to draw down SUKUK (Sharia Compliant Funds)

4. The first investment of Nigeria in IILMC was made under Kingsley Moghalu’s tenure at the CBN

5. N100 Billion SUKUK fund has supposedly been drawn down for roads in all the 6 regions.

6. That Kingsley Moghalu was seconded to the above roles via his position in the CBN.

Nigeria is a secular nation. When we join religion based organizations like the OIC, it is indeed a cause for concern.

For someone who is aspiring to be President of Nigeria, and who was central to such financial commitments, it requires his experience to be raised and analyse.

It also behoves of him to clearly educate the populace on the benefits of such engagements. If indeed the decision was a great move, such a person should modestly take pride in participating in its creation.

If on the other hand it is not, he owes it to posterity to showcase his strident opposition to it.

The silence on this front by Kingsley Moghaly and his handlers is rather deafening. They should address his role and experience in this clearly religion (Islam) based financial business.

These are facts from which different people will make different deductions. Some could easily say from what the above facts that Kingsley Moghalu is well experienced to run a multi religious country like Nigeria.

Others may yet use it to project that he has residual relationship with the present government, given that a project he midwifed has now contributed over N100 Billion to this present government.

Do please have your say and be willing to be judged by your words and opinion.

As for me, I can safely say that I enriched the discuss and provided factual data to sustain anyone’s decision on who will lead us as a nation.

Thank you.

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