Former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu has expressed that Nigeria has spent 22 years chasing shadows due to failure of leadership.
Moghalu made the remark at the 10th Emeka Anyaoku lecture held in Anambra on Thursday, while speaking on the topic, ‘Leadership and the Challenge of Development in Nigeria.’
The former Presidential candidate stated that true leadership is not about holding positions of power.
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He stated that leadership is about exhibiting a character that upholds core values, and the competence to bring those values to bear in a manner that creates change and sustains social progress.
“We have spent five decades including our 22 years of democracy since 1999 chasing shadows because we have failed or neglected to focus on the question of leadership,” he said.
“This failure of leadership, is why we have politics without governance, and why politics is the biggest business in our country while real businesses and the economy are being steadily destroyed by leadership failure and incompetence.”
He said for economic, political, and institutional development to happen, effective leadership must be backed by good governance.