In Nigeria politicians are known to begin the permutation for the next election even before the result of a current ballot exercise is declared. It is therefore an illusion for anyone to think that the 2023 Nigerian general election is still a far cry. It is rather as close as the object you see from your car side mirror which often times are much closer than they appear on the mirror.
We are however, not unaware of the general insecurity that is so widespread all over the country at the moment. There is no doubt that this state of insecurity is casting doubt on whether there will be an election in 2023. There is also the school of thought that the President Mohammadu Buhari regime may not be willing to organize a free and fair election or conduct anything close to the election that first brought him into power in 2015.
Whatever is the case, there is still an ongoing politicking, alignment and realignment of politicians in preparation to jostle for power if and whenever the whistle is blown. Most happenings in many corners of the political space currently underpins the fact that politicians are on the move again. So, as the electoral tussle for the presidential contest in 2023 gains some traction, this The Intel edition will seek to beam the search light on the person of Professor Kingsley Chinedu Moghalu.
Prof. Maghalu is described by Wikipedia as “a Nigerian political economist, lawyer, former United Nations official, and politician. He served as Deputy Governor of the Central Bank of Nigeria, appointed by President Umaru Musa Yar’Adua, from 2009 to 2014.” A captivating intro for any individual, you may say, but does not seem to be the end of it for this subject individual. As we will see further below, there are some other parts of Prof. Maghalu that should not be spared. After all, in politics there are hardly secrets.
So, who exactly is Professor Kingsley Chinedu Moghalu?
A person can tell his own story more glamorously than any other person. That is why Prof. Moghalu`s description of himself cannot be ignored. He calls himself a political economist, central banker, CEO, thought leader, United Nations diplomat and a lawyer. Our investigation reveals that he is indeed all that he says he is.
Prof. Kingsley Moghalu is a global leader who has made contributions to the stability, progress and wealth of nations, societies and individuals across such domains as academia, economic policy, banking and finance, entrepreneurship, law, and diplomacy. As Deputy Governor of the Central Bank of Nigeria from 2009-2014 he led the execution of extensive reforms in the Nigerian banking system after the global financial crisis. He was a member of the Bank’s Monetary Policy Committee that brought inflation down into single digits.
As Professor of International Business and Public Policy at The Fletcher School of Law and Diplomacy at Tufts University in Massachusetts, USA he has taught, trained and inspired graduate students from more than 40 countries in North America, Europe, Africa and Asia, men and women who will go on to leadership roles in their countries in careers from business to government service, from non-profits to military intelligence.
Kingsley served as the Chairman of the Boards of Directors of the Nigerian-Export-Import Bank (NEXIM) and the Financial Institutions Training Center. He was also a Member of the Boards of Directors of the Central Bank of Nigeria, the Securities and Exchange Commission of Nigeria, the Asset Management Corporation of Nigeria, and the global Alliance for Financial Inclusion (AFI).
He is the Founder & CEO of Sogato Strategies LLC, a global strategy, risk and macroeconomic advisory firm that has helped multinational corporations, global banks, private equity and asset management corporations make successful investments in emerging market countries.
Kingsley previously worked for the United Nations for 17 years, leading successful work in national reconciliation and nation-building in fractured societies, risk management and management reform in the UN, and raising billions of dollars for social investments in developing countries by The Global Fund to Fight AIDS, TB and Malaria in Geneva.
A visionary thinker and thought leader, he is the author of several books, an international keynote speaker at industry conferences, and a frequent commentator in the global media including CNN, BBC World TV, Bloomberg, and the Financial Times.
A philanthropist, Kingsley founded the Isaac Moghalu Foundation, a non-profit organization that provides support for literacy, educational institutions, and access to education for underprivileged children in rural communities in Nigeria.
Kingsley was educated at the London School of Economics and Political Science (Ph.D., M.Phil.), The Fletcher School at Tufts University (M.A.), University of Nigeria, Nsukka (LL.B.), and the Institute of Risk Management in London, UK. He has completed executive leadership programs in economic transformation, macroeconomic management, global leadership, corporate governance, and strategy at Harvard Kennedy School, Harvard Business School, Wharton, Chicago Booth School of Business, and the International Monetary Fund Institute.
Any political structure worthy of note?
Prof. Moghalu first entered the political scene in 2019, when he ran against the incumbent president Mohammadu Buhari and many others. He ran under the Young Progressive Party [YPP]. The YPP as a political party was founded on the 7th of June 2017, just over four years ago. Even though the party was registered in 2017, it is known to have been formed in 2016 as a political association. It is not exactly known under which party Prof. Maghalu intends to once again run for the office of the president of Nigeria. The YPP is however the only political party and in fact a fairly organized political structure that he has been associated with.
The YPP as a party boosts of about 3,012,325 memberships as at date. It is known to have won only one seat out of the 109 seats in the Nigerian Senate during the 2019 general elections. This was in the person of Senator Ifeanyi Ubah, who was the flag-bearer for the Young Progressive Party representing Anambra South senatorial district. On 25th February 2019, he was announced winner of the Anambra South senatorial seat in the Nigerian Senate making him the first candidate to have won a seat in the National Assembly under the YPP.
The Citizen Forum, a group convened by Prof. Wole Soyinka, a foremost playwright of International repute is another organization known to have supported Prof. Moghalu during the 2019 election. Prof. Soyinka and his group supported the presidential bid of Kingsley Moghalu. Another figure who also showed some support for Prof. Moghalu was the Ooni of Ife. Ahead of the presidential election he spoke on how passionate Moghalu was during his presidential campaign.
However, these two individuals though notable personalities, none can be described as a political colossus. None can be said to have any sufficient clout to muster the support that can move the needle in any form towards effectively furthering the political admission of Moghalu. Further, in the current dispensation, it is reasonable to also assume that the YPP as a political party does not seem to have the clout to provide a viable platform for the aspiration of Prof. Maghalu. The question of a strong political structure is therefore one that has not been answered. As things further develops, we may revisit this assessment.
As a presidential candidate, how far can he go?
He first declared his intention to run for the highest political office in Nigeria precisely on the 28th of February 2018. His declaration was before a consortium of news men and a team of friends and professionals. Speaking at his declaration he said “We have no godfathers. We are ordinary Nigerians who want a future that is very different from the sad realities of broken promises and unfulfilled national potential that has been the lot of the Nigerian people for far too long.”
In the above quote he eloquently captured both a bright vision and a capital impossibility, at least in real terms. The capacity of Moghalu to bring about the actualization of the bright future he tried to sell to his audience perhaps is not in doubt, if his background and global reputation is anything to count. Unfortunately, however, in Nigeria capacity, professional background and exposure are the very least that qualifies a candidate for any political position. That is the reality as at today, irrespective of whatever the paper qualifications and electoral guidelines provide.
That is exactly why amongst a chain of competent hands which were paraded by some political parties in the 2019 presidential election, the country ended up with what she got. So, even as a star in the midnight cloud, amongst very many other stars, with the capacity to outshine, Prof. Moghalu was comprehended by darkness and contained accordingly. In 2023, we are yet to see if he will yet again emerge in the sky as a star amongst many stars or indeed the actual and significant light that will lead Nigeria to walk a guaranteed path out of darkness.
It is without doubt that the required competence to lift the country out of the pit is never in short supply in our nation. The quagmire is why irrespective of the brains emanating from this country our economic woes continue to multiply by the day. This is exactly where the general concern lies. Wherein is the hope that the past sham and symbolic electoral processes Nigerians have seen in the past is not what is in stock for 2023? Prof. Moghalu is a material and a change agent, no doubt. He is the proverbial round peg, so to say. What is in doubt now is – can he find the round hole come 2023?
