The Man Behind the Restoration of Igbo Economy after the Civil War 20 Pounds Policy:

The Man Behind the Restoration of Igbo Economy after the Civil War 20 Pounds Policy:

The Man Behind the Restoration of Igbo Economy after the Civil War 20 Pounds Policy:

The Nigerian Civil War was a catastrophic mishap that grossly affected the Igbos of Eastern Nigeria. After the War, a 20 Pounds Policy was introduced, which crippled the economy of the region, this precipitated renew struggle to build wealth from scratch. It was a devastating economic scenario, all those who had billions in their Bank Account ended up with just 20 pounds. To get loans from the Bank then, was a herculean and mountain top struggle.

At that time of great economic uncertainty and wide spread commercial hysteria came Chief Collins Kenneth Nnadi Obih, who spearheaded the economic recovery of Igbo Land in 1970. He was born in 1929 in Imo State, he had a traditional chieftaincy title as Ozoigbondu, (the first to be decorated with that title in Igbo land) Chief Obih was a renowned Nigerian banker, technocrat, and politician recognized greatly for spearheading the economic recovery of the Igbo land post-civil war in his capacity as the CEO of African Continental Bank (ACB). He introduced the Third Party Guarantee (TPG) loan scheme, reviving businesses, and was a prominent figure in Nigerian banking and politics during the second republic.

He was the first Nigerian, and West African, to be honored with a fellowship from the Institute of Bankers (London), and the first indigenous President of the Institute.

Held a high-ranking position within the National Party of Nigeria (NPN) and ran for Governor of Imo State in 1983. “Ozo Igbo Ndu,” is remembered for his contribution to developing indigenous Nigerian banking and supporting Igbo economic reintegration after 1970. As providence may have it, he passed away in his sleep on May 9, 1990.

In this Month of May, we remember his patriotic sacrifices.