Kingsley Moghalu

Kingsley Moghalu, former deputy governor of the Central Bank of Nigeria (CBN) has resigned his membership of the African Democratic Congress (ADC).

His resignation, forwarded to the party chairman, Okey Nwosu, in a letter dated June 13, 2022, comes days after he lost the presidential ticket of the opposition party.

In the epistle, the politician who was the 2019 presidential candidate of the Young Progressive Party (YPP) accused the ADC of corruption through failure of logistics during its primary, leading to financial inducement of delegates at the exercise that took place in Abeokuta, the Ogun State capital.

“I am writing to hand in my resignation of my membership of the African Democratic Congress, effective immediately,” reads the letter.

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“I have resigned because the process and conduct of the party’s presidential primary on June 8, 2022, at Abeokuta revealed a fundamental clash of values between me and your leadership of the party.

“Despite the circular you issued a few days to the primary committing the party to providing transportation and accommodation for delegates to and in Abeokuta, and which as we agreed would provide a level playing field for all the presidential aspirants, the party under your leadership failed to do so.

“Some aspirants, including myself, made donations to the party’s account as requested for this purpose. This failure, which appeared intentional, created room for massive abuses of the electoral process, including delegate capture and financial inducement of delegates.

“This is only one of the numerous inconsistencies and absence of transparency and predictability in the management of the party that I had progressively complained about.

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“As you are well aware, I have consistently resisted pressures to join the All Progressives Congress (APC) or the Peoples Democratic Party (PDP) precisely to avoid ‘cash-and-carry’ politics. For me to remain a member of the ADC therefore, after what thousands of party members participated in at Abeokuta, would be to endorse political corruption of a most obscene order.

“I joined the ADC in October 2021 with the best of intentions. Since then, I have put my entire team to work on growing and improving the party, including raising the party’s visibility on all media platforms, recruiting more than 10,000 new members to the party, and providing new offices for various state chapters of the party at my expense.

“It is deeply regrettable that other inducements appear to have played more important roles in determining the outcome of the primary than loyalty to the party,” he added.

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