Yesterday, I wrote how Charles Soludo was on a mission to discredit GEJ (http:///ubSCS9) by claiming poverty had risen to unprecedented levels under the current administration (/5M97TH).
I showed how that assertion by Soludo was 100% bogus, and poverty had actually fallen to levels not seen in modern Nigeria.


A lot of people responded by asking about some of the other statements contained in Soludo’s treatsie, specifically his claim about our foreign reserves hitting their peak under his watch and their subsequent ‘depletion’ under GEJ.


Truth is, like his statement about poverty sky-rocketing, his statement about foreign reserves nose-diving is also utterly false.
Charles Soludo claims “Not one penny was added to the stock of foreign reserves…”
This is blatantly false, as can be seen from the chart (/82ZWIb),
Foreign reserves were literally flat from 2000 till the end of 2009 (he was Central Bank Governor 29 May 2004 – 29 May 2009)

,

this is when the ‘one penny not added’ argument would have had validity.

As can be seem, compared to now, our foreign reserves did not ‘peak’ during his tenure either.
By the end of 2009, reserves spiked,and really started growing exponentially in 2010 (GEJ assumed office 6 May 2010).
As of December 2014, Nigeria’s foreign reserves reached an all time high, Soludo had been out of office for about 5 years.


All this data is extrapolated from the Central Bank of Nigeria (CBN), so there is no way Soludo can claim ignorance about any of the numbers I’ve presented.

In conclusion, GEJ might not be perfect, but when it comes to bolstering our foreign reserves, he has done an excellent job, and deserves immense credit and commendation.

Thank you for your time, God Bless You, and God Bless Nigeria!

http://ad76.com/2015/01/27/how-charles-soludo-misrepresented-the-issue-of-nigerias-foreign-reserves-in-his-anti-gej-article/

Please click on the link to see the charts and graphs.