Former CBN deputy gov says quitting politics was his best decision

FORMER presidential candidate and Central Bank of Nigeria (CBN) Deputy Governor, Prof Kingsley Moghalu, says stepping away from Nigeria’s political arena remains the most rewarding decision of his life, pointing to renewed personal happiness, family stability and frustration with the country’s political culture as key reasons for his exit.

Writing on X, Moghalu reflected on how he resigned from his role at Fletcher School of Law and Diplomacy at Tufts University in 2018 to pursue the presidency in 2019 after repeatedly being told that “Nigeria needs you.” He made another attempt ahead of the 2023 elections but pulled out, alleging that he was undermined by self-interested political actors on what he termed an alternative political platform.

“… I tried to become a candidate a second time in 2023 but was betrayed by self-serving, cash-and-carry political entrepreneurs in one of the so-called “alternative platforms,” he wrote.

According to the former CBN deputy governor, continuing the struggle made little sense for someone who neither depends on the Nigerian political structure for survival nor lacks professional relevance abroad. He said he subsequently returned to international engagements, describing the move as liberating. Since then, he noted, his life has been calmer, more joyful and deeply fulfilling.

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Moghalu stressed that his political ambitions came at a significant personal cost. He said he gave up valuable time, jeopardised his health and diverted family resources, including income earned through legitimate work, during the 2018/19 and 2021/22 political cycles. While he still speaks occasionally on governance and economic matters, he clarified that his interventions are strictly non-partisan, as he does not belong to or align with any political party.

Responding to those who continue to urge him to return because “Nigeria needs you,” he argued that national transformation is not the duty of one individual. “It needs you too, and all of us,” he said, insisting that responsibility for change must be collective.

He painted a bleak picture of the country’s governance, describing it as severely troubled. In his view, meaningful reform will only occur when citizens acknowledge their power and mobilise in large numbers to demand accountability, credible elections and transparent leadership, where genuine votes prevail over manipulated tallies.

Moghalu also observed that in several countries, ordinary citizens – not politicians – have redirected national destinies through civic action. Although he conceded that such change is difficult and not universally successful, he warned that without similar resolve, Nigeria risks drifting toward the trajectory of the Democratic Republic of the Congo.

In his words, he once believed strongly in the call to serve, but experience altered his perspective. While he maintains his love for Nigeria, he concluded that safeguarding his wellbeing and that of his family ultimately outweighed remaining in a political system he considers deeply flawed.

“Our country is down deep, whether anyone accepts this or not. It can only be fixed by the people themselves, if they were to recognize their own power and come out in their millions to demand responsible and accountable governance and a transparent democracy where their actual votes are more important than those who ‘magic-count’ votes,” he said.

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“Governance remains absent because the Nigerian people have consciously disempowered themselves with excuses such as “poverty” etc – the very reason they should exercise their people power and shake up the greedy politicians.”

“Citizens in other countries- citizens, not politicians- have changed the trajectories of their own troubled countries. Admitted, not everywhere, and it’s admittedly not easy, but it has happened in places that did not have 220 million people. May we not become the Democratic Republic of Congo – although some would retort “what’s the difference, really?” he added.