@Sagamite "every fool sees a platform to utter their balderdash" and what are you?

sherry lo:

@Sagamite "every fool sees a platform to utter their balderdash" and what are you?

Err . . . . . . . . . . . . pretty much super smart and a frequent thought leader. And you?

@Sherry Lo,Ur point is misplaced,on what basis do U want to arrest soludo?He acted based on what the CBN auditors gave in thier reports so if any1 deserves an arrest,it is those corrupt auditors who gave him the reports that the banks where healthy.And make no mistake about it,consolidation has helped our banking sector a lot,infact,the banking sector is one of the largest employers of labour due largely to consolidation.
And pls don't be too carried away by Sanusi's gragra,there's more to all these fanfare policy than meet the eyes.Call me weird but Quote me,Sanusi has good intentions as well as northern agenda.I won't be surprise if those so-called failing banks are either nationalized or bought over by the northern oligarchy which Sanusi is a part of.His so called risk management is so flawed on many bases:first the audit is still in the process of completion and he knows that when it comes to money,nigerians can do anything to protect thier cash yet he went ahead with his hasty announcement knowing ppl are going to get jittery and take thier money.What kind of risk management is that?He does't even know the exact amount or even amount range the 5 banks needs for proper sustenance while they wait to be taken over by his cronies and proxies.Even the list of debtors that he published was so incosistent that they had to make statements to correct thier very annoying mistakes.This shows dis guy is just a showman whose work lacks depth,just hype but no substance.

This thread's existence is enough reason for Soludo to be investigated and i do believe that arrest is an integral aspect of the investigative process.

And with what i know to be true about Soludo my answer is a resounding YESSSSSSSSSSSSSSSSSSSSSSSSSSSSS ARREST SOLUDO NOW THAT THERE IS THE WILL TO PROSECUTE HIM.

Affalatus:

This thread's existence is enough reason for Soludo to be investigated and i do believe that arrest is an integral aspect of the investigative process.

And with what i know to be true about Soludo my answer is a resounding YESSSSSSSSSSSSSSSSSSSSSSSSSSSSS ARREST SOLUDO NOW THAT THERE IS THE WILL TO PROSECUTE HIM.

Ol'boy, what are you blabbing about sef? You have been talking rubbish like a kid and someone asked you question on page one to elaborate more on whom you said that Soludo killed or has knowledge of whom killed the person, yet you didn't find it fit to do so, but only good at blabbing and invoking God against Soludo as if you yourself is clean. My fren, will you shut up and stop making empty claims against Soludo if you can not elaborate. If you are dragged out today to confess, your sin will be 1000 time more than Soludo's.
If you want Soludo to go to jail because of failed banks in nigeria under his watch as the CBN governor and not because of any financial crime that's traced to him, then you should first of all drag Alan Greenspan and Gordon Brown to jail.

El rufai, Ribadu and co were interogated by authorities when yar'adua came to power. Why the waste of time. Invite Soludo for questioning. Even while I will not question soludo s performance, I think he should be invited for questioning that is if he really has any questions to answer.
What baffles me most is how Okonjo, Soludo and Ezekwesili, people who worked in the then economic team have kept mum having left their posts. Someone should start talking and fast. The truth is that apart from people I consider ignorant and unknowledgeable, no influential person from the public or private domain have been calling for this. I wish they do and this includes sanusi, yar'adua, and EFCC. How come that apart from this platform, I haven't heard calls to that effect. What are they waiting for. Afterall it has been done in the past while the man was still head of the Apex bank.

Why should soludo be arrested for what reason if not for him do you think nigerian economy will be where it is today.
Watch and see you moroons will beg that soludo should come back.
Of all the cbn govs we have had in nigeria he his the one that has done the most in fact he his the best.
We have had how many cbn govs, who has performed better name it is it alhaji alhaji,or adamu ciroma who name them who i challenge anyone to name .
Some of you will just open your mouth to say crap without proper research.

Theres certainly nothing bad summoning the dude for questioning if need be.

adigun101:

El rufai, Ribadu and co were interogated by authorities when yar'adua came to power. Why the waste of time. Invite Soludo for questioning. Even while I will not question soludo s performance, I think he should be invited for questioning that is if he really has any questions to answer.
What baffles me most is how Okonjo, Soludo and Ezekwesili, people who worked in the then economic team have kept mum having left their posts. Someone should start talking and fast. The truth is that apart from people I consider ignorant and unknowledgeable, no influential person from the public or private domain have been calling for this. I wish they do and this includes sanusi, yar'adua, and EFCC. How come that apart from this platform, I haven't heard calls to that effect. What are they waiting for. Afterall it has been done in the past while the man was still head of the Apex bank.

You have not heard it in public because only a slowpoke would demand the EFCC arrest someone for not doing something well at work.

The internet public forum offers every fool a platform to utter their balderdash. See for example Affalatus.

bombay:

Why should soludo be arrested for what reason[b] if not for him do you think nigerian economy will be where it is today.[/b]
Watch and see you moroons will beg that soludo should come back.
Of all the cbn govs we have had in nigeria he his the one that has done the most in fact he his the best.
We have had how many cbn govs, who has performed better name it is it alhaji alhaji,or adamu ciroma who name them who i challenge anyone to name .
Some of you will just open your mouth to say crap without proper research.

Please explain to me where the Nigeria Economy is today. How many factories have soludo's policies create. How many production outfits have more money to to produce?. Soludo policies only created maga speculators (traders, oil and forex) and traders. So we were overly exposed to the vagaries of the international oil and stock market, while our factories and production capacity is falling. No economy can succeed that way in the long run.

wirinet:

Please explain to me where the Nigeria Economy is today. How many factories have soludo's policies create. How many production outfits have more money to to produce?. Soludo policies only created maga speculators (traders, oil and forex) and traders. So we were overly exposed to the vagaries of the international oil and stock market, while our factories and production capacity is falling. No economy can succeed that way in the long run.

I did not know that what was stiffling local manufacturing was CBN policies rather than lack of cost effective Energy Source.

McKren:

I did not know that what was stiffling local manufacturing was CBN policies rather than lack of cost effective Energy Source.

One important factor stifling the productive sector in Nigeria is CBN (banking policies), a situation whereby banks are not lending small and medium scale industries capital would stifle any production, even at times more than the lack of energy. Then an interest rate of between 17 - 20% cannot allow for any legitimate production to take place.

I know people who have medium scale manufacturing outfits worth over N150 million naira and cannot get loans for raw materials from any commercial bank (because he is not a speculator or trader). He utilizes micro finance banks and has to pay close to 30% interest rate. Although he manages to survive but finds it very difficult.

Why do you think Chinese and indian manufacturing outfits still perform well in spite of poor power and infrastructure, because the bring in cheap funds from their home countries.

You have a point but what you are talking about is mid-cycle and not at the heart of why Manufacturing is failing in Nigeria.

The fundamental cause of failure of Small Businesses in Nigeria is Energy cost.

On the issue of Banking policies, Banks have a duty to access whether you have a viable business capable of paying back these loans before they give you loans, you can not claim to magically have a viable business when a fundamental resource as energy is not there and for most Nigerian small Businesses Energy cost is as much as 5 times as they should be. In an atmosphere like this its only fair to suggest that most loan applicants will struggle to get it or prove that their Business is viable.

The Banks also have not been helped by poor identity system which means that in Nigeria before you access loans you either have to have a collateral of more worth than the loan facility you are seeking.

These two issues are not under the remit of CBN, the Energy Ministry and the Ministry of Interior as well as the Presidency have not done their job in that respect. The various arms of Government are interdependent and we can only make progress when we treat these issues as such.

So to put our economic failure squarely on CBN is not very accurate . . . .the CBN under Soludo made giant strides against all odds.

This is not the time to choose politics over progress . . . . Sanusi should work closely with these Banks and other aspects of the economy with the understanding that we are yet a young and developing economy that needs a lot of help and nuturing to succeed.
Any system Designer will tell your that you build in stringent quality control systems at full capacity, if you build in a First Rate Quality system in a 3rd rate process the system will surely crash.

This is the point Sanusi misses, we know that he likes to call himself a Risk Manager and a Strong headed Islamic Scholar who does not tolerate nonsense. I will not get into speculation that there is a tribal or some premediated objective . . . . . but I know that Leadership includes understanding the system you are to lead and nuturing it. Unfortunately Sanusi has started by talking down the economy and trying to implement text book risk management systems without considering whether those techniques were designed for a developing and strugling economy like ours.

McKren

You make a lot of sense there. But even banking policies has a lot of effect on even energy. If we leave in a stable financial atmosphere were every department of Government work in unison, and banks can give ten year loans and relatively low interest rates, then qualified technical experts can borrow funds to build power stations, refineries, etc, and help ameliorate the energy crisis.

@ Bialegend Nike Ayilara was until her death a CBN Staff and a personal friend of my humble self the writer of the Needs Program.

I remain loyal.

@ Sagamite

You are throwing stones at your future by castigating one whom God is using to bless you.