How I Sold The Idea Of Establishing Transcorp To Obasanjo — Soludo

The Governor of Anambra State, Charles Soludo, has recounted how the Transnational Corporation (Transcorp) was set up under the leadership of former President Olusegun Obasanjo.

Soludo Narrated at the African Financial Corporation Live held in Abuja how he introduced the idea of having a business-like South Korea’s Chaebol in Nigeria which the former president bought.

The governor headed the Central Bank of Nigeria from May 2004 to May 2009.

The Transnational Corporation today has transformed to a diversified conglomerate with market capitalisation of N56.9bn.

Soludo said, “I went to him (Obasanjo) as well with an idea of us creating an equivalent of South Korea’s Chaebol to become a mega thing for us to get to the world and he said ‘something like Transnational Corporation’, I said yes.

“He picked up the phone, called the chief of staff and we convened a meeting. Sixty of them were invited, fifty six came to the Executive Council chambers. The committee headed by Ndi Okereke grab the details of setting up the Transcorp.

“It took minutes for this to come. Some conspiracy theories came in. ‘This is Obansajo’s thing. Transcorp and Soludo. Soludo Obasanjo’s Transcorp.’ What is behind it? There was a concerted effort to kill Transcorp, there was a concerted effort to kill African Financial Corporation (AFC).

“I can tell you it took an arm and a leg. I think all the grey hair I developed was developed in four to six months fighting for life to save the baby. Because they had the baby on this water to kill.

“Sometime he (Obasanjo) will call me and say what is going on? I will say baba, it’s politics.”

He said to get something done in Africa, one needs a kind of leadership that Obasanjo can provide.