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    Chart a path towards lower interest rates to stimulate business growth – Otumfuo to BoG

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Former Nigerian Central Bank deputy governor warns on power and vanity after Ken Ofori-Atta fall

A former Deputy Governor of the Central Bank of Nigeria has reflected on the fleeting nature of power and public office, recounting the rise and subsequent troubles of an unnamed African political figure who, he said, became distant after assuming ministerial office and later fell under investigation for alleged corruption.

Kumasi Mail by Kumasi Mail
January 11, 2026
in News
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Former Nigerian Central Bank deputy governor warns on power and vanity after Ken Ofori-Atta fall

Professor Kingsley Moghalu (L) and former Minister of Finance, Ken Ofori-Atta (R)

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A former Deputy Governor of the Central Bank of Nigeria has reflected on the fleeting nature of power and public office, recounting the rise and subsequent troubles of an unnamed African political figure who, he said, became distant after assuming ministerial office and later fell under investigation for alleged corruption.


In a reflective post shared on LinkedIn, the former central bank official, now an academic in the United States, narrated how an African friend Ken Ofori Atta former Finance Minister of Ghana attended his 50th birthday celebration in Abuja before later being appointed a minister in his home country.

According to Prof. Kingsley Moghalu in a post, the relationship between the two changed after the political appointment.

Prof. Maghalu said repeated attempts to reach the minister on a professional matter went unanswered, adding that he later heard similar complaints from mutual friends and acquaintances who felt the individual’s character and conduct had changed following his rise to power.

“A few could recognise our friend’s character and conduct anymore,” he wrote.

He further recounted that several years later, the minister’s political party lost power, forcing him out of government. He subsequently came under investigation over allegations of corruption, with reports that authorities in his home country sought his extradition from a foreign country where he had reportedly taken refuge.

The author noted that recent reports indicate the former minister has been arrested in that country on immigration-related charges.

He cautioned, however, that allegations and arrests do not amount to guilt unless proven in court, stressing the importance of due process.

“Charges or indictments, of course, do not automatically mean guilt unless and until established by the courts,” he stated.

Concluding his reflection, the former central bank official described the episode as a lesson in humility, warning about the dangers of arrogance and excessive pride associated with power.

“But, lesson: vanity of vanities, all is vanity,” he wrote.

The post has since attracted significant engagement on social media, sparking discussions on leadership, accountability and the transient nature of political power.

Source: www.kumasimail.com

Tags: Ken Ofori Attacorruption.topstory
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