By Ugochukwu Ejinkeonye
As Central Bank Governor (2004 – 2009), Professor Charles Soludo woke up one morning with a big dream. He wanted to mint coins for the use of Nigerians as legal tender. Those with better acquaintance with the psychological and cultural disposition of Nigerians told him pointedly that the policy was dead on arrival. They explained that given the behavioral pattern of Nigerians, the policy would be viewed by the majority as a needless burden.
But Soludo, who often appears and sounds as if every audience before him is a class of freshmen Economics students, dismissed with characteristic arrogance and cocksureness every contrary opinion.
He went to town marketing the great benefits of the coins, harping on their durability and how billions of naira will be saved from not having to frequently replace well-worn notes any more since the coins would last till almost eternity. Seeking to talk him out of the clearly unrealistic policy was like singing ballad to the deaf!
