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CBN Confirms That SW APC Governors Are Leading Cause Of Recession - Politics - Nairaland

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CBN Confirms That SW APC Governors Are Leading Cause Of Recession by Nobody: 11:57am On Sep 24, 2015
I made a thread here warning how the huge debt portfolio of SW APC states coupled with the bailout will lead to bank failures and just yesterday the CBN governor stated that the economy is heading for an imminent recession citing the same reason.

Here is a quote from the CBN governor

“The committee noted that liquidity withdrawals following the implementation of the TSA (Treasury Single Account), elongation of the tenure of state government loans as well as loans to the oil and gas sectors could aggravate liquidity conditions in banks.

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by adedayourt(m): 11:58am On Sep 24, 2015
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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by Nobody: 12:00pm On Sep 24, 2015
Here is the original thread


The SW APC states are responsible for any future bank collapse.

PvtParts2:

[size=18pt]Blame SW APC for impending economic recession and Bank failures[/size]

The only solution Buhari and the APC will sell to you is an IMF loan.

Rather than look at ways to promote local production to prevent wastage of our low forex reserves this administration will borrow to pay the rent on importing finished goods.

To show the total lack of sincerity by the APC led government, Buhari dipped into our low forex reserves to bailout States that are seriously indebt due to the ineptitude and corrupt ways of their respective governors.

This same debts where sourced from banks and the states are poised to default sooner or later. Remember that the liquidity taken out of circulation in granting this debt facility to states with nothing to show for ought to have been made available to genuine small and medium businesses to promote real growth! The rescheduling of the debt repayments was also outlined as one of the measures to help the states out. Now this means that lending interests rates will surely soar.But by far the most stupid thing about this bailout is that after dipping into our forex reserves to bail the states the CBN can not meet up with forex demands thereby putting more pressure on the naira which inevitably has since seen inflation rates soar.

This is change for you!

Now add the TSA directive and you can see that the banks are set to loose more liquidity.

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by Nobody: 12:03pm On Sep 24, 2015
This is one of the goats responsible for your job loss

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by Nobody: 12:05pm On Sep 24, 2015
Smh,How do you Explain this to a brick layer....Abi which one be forex reserve
Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by menix(m): 12:05pm On Sep 24, 2015
South West

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by Nobody: 12:10pm On Sep 24, 2015
Some one just said something.

1 Like

Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by menix(m): 12:10pm On Sep 24, 2015
SirWere:
Smh,How do you Explain this to a brick layer....Abi which one be forex reserve

Forex reserve is ensuring our forest re reserved frm bush fire.

Definition frm bush man can be understood by bricklayer I guess

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by PPAngel(f): 12:13pm On Sep 24, 2015
From....




To....

www.nairaland.com/attachments/2643046_loans_jpeg6b38b8744c8ccbfcff622f32ab8797cf

11 Likes 2 Shares

Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by ERODEDEAST(f): 12:18pm On Sep 24, 2015
If care is not taken by 2019mojority of Nigerians would have become Beggers.

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by RareDiamond: 12:19pm On Sep 24, 2015
Nawa oooo

1 Like

Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by PPAngel(f): 12:25pm On Sep 24, 2015
ERODEDEAST:
If care is not taken by 2019mojority of Nigerians would have become Beggers.


Tinubu is a canker worm and sw is a cancerous lesion to our economy


Okar got it wrong it is the Southwest states that ought to have been expelled.

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by PPAngel(f): 12:47pm On Sep 24, 2015
Their noise making thieving governors where borrowing left right and centre against oil receipts from the Niger Delta and it is no news that they were at the fore front opposing the budget benchmark.

The ediots had the audacity to claim the phantom missing $20bn that Sanusi pulled from his pile ridden arze as their money shouting rubbish like "where is our $20bn".


Una better start planting cocoa

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by cjrane: 1:33pm On Sep 24, 2015
The Yorubas have always plotted against the interest of Nigeria. If it wasn't for cowardice and the free oil money flowing into their states, they would have been blowing up Nigeria by now like their masters

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by lincolnj88: 1:39pm On Sep 24, 2015
Ogun, oyo, ondo, ekiti, lagos, all involved in taking bailout from d fg oil money.....
Osun is worst dan yemen and syria
When we talk abt d real parasite in d country den top of d list is south west followed by north...

Dnt quote me if ur state cannot generate what delta state is contributing to economy

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by Nobody: 1:45pm On Sep 24, 2015
And then you will see them online claiming sophistication



Yeye slaves living in the waste part of Nigeria cheesy

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by mensdept: 1:45pm On Sep 24, 2015
You see why the southwest has always voted and opposed the East and Eastern Minorities leading or seceding from the Zoo?

Because they know their region won't be able to get the free oil money of billions that enable them to go to London and do Owambe. They would rather bring back a retired coup plotter or even Abacha from the grave knowing they would get some contracts than see an Ijaw, Igbo, Efik, or even Urhobo as President with modern ideas of how to develop the country for goodness sake.

That is why the Southwest spends resources and time to come even here on nairaland pretending to be Igbo, Ijaw, Bini, and say :We the Ijaw don't want Biafra", "By the way I am from Cross River", "Igbo can't survive Biafra and I'm Igbo"... and on and on to divide and rule like Awolowo did 50 years back.

But thank goodness for internet and technology because people can now see the bs

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by CSTR2: 1:50pm On Sep 24, 2015
The most ridiculous thing is that you find many of them on nairaland talking about how the SW hate corruption.
They hate corruption, yet their elected leaders and states are epitomes of monumental corruption rivaling the core north.
There is no region in the south that is as backward and corruptly governed as the SW.
Astonishing contradiction.

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by patrick89(m): 3:04pm On Sep 24, 2015
CSTR2:
The most ridiculous thing is that you find many of them on nairaland talking about how the SW hate corruption.
They hate corruption, yet their elected leaders and states are epitomes of monumental corruption rivaling the core north.
There is no region in the south that is as backward and corruptly governed as the SW.
Astonishing contradiction.
they will desert this thread like Sahara!
You know, it's very dangerous to give a yoruba man company to manage!! They do not have prudence in their stock. They can borrow for owambe! Go to anywhere today ileya will be on, all those crying for not being paid, will go and borrow to buy ram!!
They spend more than they earn!!
A yoruba man lives in bungalow, will be cruising pathfinder!!
He will be married to many wives! They will go shopping, to UK, if they are in civil servant, they will steal and steal.. honestly.. they recession is looming, I only pity some of them, that are innocent of all these evils by some of their leaders...

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by PPAngel(f): 3:13pm On Sep 24, 2015
It has begun.


Dow down -200 points on opening.

The shmitta is here.


To those apc zombies you have 7 yrs of famine coming your way.


Repent now.

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by seunny4lif(m): 3:45pm On Sep 24, 2015
Oya my people food don land oooh
Yoruba Na parasites grin
But Na igbo be ordinary parasites grin
Na Hausa be the official parasites cheesy
Oya,make una start now cool



FP things

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by onatisi(m): 3:55pm On Sep 24, 2015
Just like I told someone too.for buhari to have given bailout to states to pay workers salaries is more like a presidential endorsement of corruption. What did aregbesola use 34billion naira of workers salaries for?despite the fact that they were collecting monthly allocation?so where is the fight against corruption ,when a governor can steal and Tel on the president to give him bailout. But buhari can't say anything against these apc governors because he knows they spent some of the money on his campaign ,no wonder the sw apc governors were boasting even before the elections that once buhari becomes the president they will pay.

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by eagleeye2: 4:21pm On Sep 24, 2015
We hate ourselves, yet we don't want this entity Nigeria to break up. smh

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by emmasege: 5:19pm On Sep 24, 2015
Don't blame the s/west APC governors but the Daura President who was scammed with the bailout thing. You don't blame the grandpa also, but millions of Nigerians who fell for the 'change' scam.

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by Dongreat(m): 6:15pm On Sep 24, 2015
Lool. I must say he really look like a goat. A ugly smiling goat

PvtParts:
This is one of the goats responsible for your job loss

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by truefact: 6:40pm On Sep 24, 2015
This this is the singular reason fetish suffercated yorubas dreaded biafra. ...they can't survive on their own. ...

Yet the diabolical morons will tell you Osun is richer than the entire nigeria. .. evil people

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by barrycute: 7:12pm On Sep 24, 2015
I think the op is jst trying to b tribalistic rada Dan being objective.only one state in d east did not receive bail out cash...same in d west......I'd rada leave u to enjoy ur organsm.

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by PedroJP(m): 7:16pm On Sep 24, 2015
so much for the suffocated. Reason they dread Biafra like Aids. Without Biafran citizens with them, state of Oblivion awaits them. How come no xplanation was given on mgt of allocations bf bailout was granted ? Yorubas will forever thank God for having Igbos.

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Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by barrycute: 7:20pm On Sep 24, 2015
CSTR2:
The most ridiculous thing is that you find many of them on nairaland talking about how the SW hate corruption.
They hate corruption, yet their elected leaders and states are epitomes of monumental corruption rivaling the core north.
There is no region in the south that is as backward and corruptly governed as the SW.
Astonishing contradiction.

Haha,slow down with d lies,,,,,prove to me that the sw is d most backward region in d south and I would shut up.
Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by totit: 7:25pm On Sep 24, 2015
barrycute:
I think the op is jst trying to b tribalistic rada Dan being objective.only one state in d east did not receive bail out cash...same in d west......I'd rada leave u to enjoy ur organsm.

This sort it all,answered the question/thread.
Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by Nobody: 7:37pm On Sep 24, 2015
Errrrrrm last time I checked eastern states like Abia, Imo, Ebonyi and Cross Rivers also benefitted from the bailout fund as well, so why are these ediots crying and singling out South West to be the cause of the impending economic recession? undecided

1 Like

Re: CBN Confirms That SW APC Governors Are Leading Cause Of Recession by Nobody: 7:58pm On Sep 24, 2015
PvtParts:

Here is a quote from the CBN governor
The committee noted that liquidity withdrawals following the implementation of the TSA (Treasury Single Account), elongation of the tenure of state government loans as well as loans to the oil and gas sectors could aggravate liquidity conditions in banks
This guy is just a first class ediot. CBN gave 3 reasons why they believe the economy of the country might end up recessing very soon, only for this simpleton to cherrypick one so that he and brainless cohorts can hang the blame on south-west States.
The were the reasons given by CBN
1. Implementation of Treasury Single Account (how is this Yoruba's fault?)

2. Elongation of the Tenure of state government loans (last I checked, it was not only south West States that collected loans from Nigerian banks)

3. Loans to oil and gas sectors (again, this is no fault of the South Westerners)
3

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