I wonder what will be going on right now in the mind of GEJ.....when your enemies are feasting on each others flesh

This is what happens when you hsve an Ak47 mouth.

undecidedYoruba:



http://www.premiumtimesng.com/news/top-news/211283-7-billion-why-falana-must-apologise-to-me-soludo.html

falana is a mumu yoruba.

Ama jidenwu Ojukwu na aka Meaning You can never catch Ojukwu with you bare hands.
Okonjo finished Oshiomole
Soludo finished Falana

Chai!! Falana na olodo?

What a brilliant explanation to our so call learned SAN

If I was falana I will say "I'm sorry I didn't study economics u study law"

Either sorry or no sorry op he understand sha

Most of our dis ppl knw nothing

jakiedudu:
Charlse Soludo's explanation is clear as day. I remembered then as part of plans to strenghten Nigerian banks to compete favorably with their counterparts internationally, CBN decided to deposit part of the country's international reserve in 14 select Nigerian banks. It wasn't Soludo's express decision. It was a collective decision agreed upon by CBN board and well publised. Clearly Femi Falana got his facts wrong. He mistook ''Deposits'' for ''Loans''.
This is why I hate media trial. Accusing people of corruption on the pages of newspapers does not reduce nor fight corruption. Do your homework and get your facts and evidences right before you accuse someone of corruption.

for me that singular policy was one of the best to have come out of APEX bank.. if not for that we would have encountered a serious liquidity crises worse than what we currently have.

Soludo shouldn't have even bothered to reply him. He should have allowed him to stew in his ignorance

I explained the same thing in the initial thread in the morning
https://www.nairaland.com/3371083/7billion-wont-apologise-soludo-falana/1

2n2k:
[b]We need to clear some issues here before it gets muddled up

1. Nigeria foreign reserves are not kept in the vault of CBN, they are mostly deposited in many foreign banks but the cbn being the banker of government serves as the manager of the funds. If government needs forex, it will approach cbn, how cbn calls in the necessary deposits from foreign banks to pay government is the internal affairs of the cbn.

2. In lodging the forex with foreign banks, cbn is just like any other customers to those foreign banks

3. Soludo felt that since these foreign banks are banks like Nigeria banks and they use our money to do business and considering that the Nigeria banks had become bigger due to consolidation then, he made a policy that they too should become custodians of our foreign reserve like foreign banks but there should be a learning period under foreign banks for them. That was why local banks had to partner with foreign banks of their choice and the pilot scheme started with $7b in 2006.

4. The $7b were lodgements in banks not a loan. It is not that the banks will make a bullet repayment but the cbn would have been withdrawing over time just like any other customers. If you lodge money in a bank, you don't call it loan and you only withdraw at your discretion.

5. Foreign reserve is a fund not revenue. Revenue is derived from exports (of oil and others). That is what is shared by tiers of government. The cash backing in naira would have been provided by the cbn and spent by Nigeria then. There is nothing to retrieve from cbn again to be shared. If the cbn had failed to recover any of the lodgements, it would have made provision for such loss by now, but then, it is its loss, not loss of government revenue

6. Banks don't need approval of shareholders for treasury management just like cbn doesn't need approval from anybody (national assembly inclusive) on how, where and when to place/lodge the foreign reserve.[/b]

undecidedYoruba:



http://www.premiumtimesng.com/news/top-news/211283-7-billion-why-falana-must-apologise-to-me-soludo.html

The question is has d "Deposits" been return to nigeria?I know some of this phoney banks has dissappeared,by d way which money in $ are a banktheives like cecilia ibru,francis atuche,erastus akingbola & co uses to buy vast ppties abroad during d 2008 economic melt down?

undecidedYoruba:



http://www.premiumtimesng.com/news/top-news/211283-7-billion-why-falana-must-apologise-to-me-soludo.html

What an insult!

falana afonja charge and bail legal practitioner... thank u prof soludu for clarifying afonjas cheap propaganda and conspiracy to tarnish your good name... oya corn headed afonja SAN tender an apology for ur earlier blunder

Chukazu:


for me that singular policy was one of the best to have come out of APEX bank.. if not for that we would have encountered a serious liquidity crises worse than what we currently have.

Haba!After #25billn consolidation then,$7bn shared yu still talking of crises,some of then still went bankrupt,policy never epp,it gives bank official enuff money 2 loot.banks problem is not liquity crunch but corruption.

kross01:


Kindly educate me, how much interest have Nigeria earned from the huge ones we've been keeping with the foreign financial houses since we started having foreign reserves.

How much interest did they agree to pay your country?

FALANA gbo tie, tara eni laa ko gbo.

Standing5:
Falana is right. Banks loan out deposits of depositors. For him to deposit money there without interest, it is a loan.

Most of the people still think this $7billion thing is a joke.
The money was released to the banks for use in their business and make more profits. Soludo is being clever by half.
His attempt at changing the nomenclature of the $7billiion is an irresponsible attempt to fool the gullible.
The questions are : who authorized him to release(deposit) funds up to that amount without appropriation when the funds don't belong to the CBN or his family?
Where is the money even after 10years?What about the part of the $7biliion in failed banks like Intercontinental, Oceanic, and Bank Phb?Did we get value for the money?
These are the questions he would be answering EFCC officials.
He definitely has a case to answer!!

Standing5:
How much interest did they agree to pay your country?

Same thing i was hoping to learn from you sir, since you called it a loan, you should let me know please.

Chukazu:


for me that singular policy was one of the best to have come out of APEX bank.. if not for that we would have encountered a serious liquidity crises worse than what we currently have.

Exactly. That policy gave Nigerian banks the bouyancy to expand their operations throughout Africa.

Falana hiding now in a hole

Standing5:
Falana is right. Banks loan out deposits of depositors. For him to deposit money there without interest, it is a loan.

my friend mechie onu gi there do you know more than the economics professor?

Businessideas:

Most of the people still think this $7billion thing is a joke.
The money was released to the banks for use in their business and make more profits. Soludo is being clever by half.
He's changing the nomenclature of the $7billiion is an irresponsible attempt to fool the gullible.
The questions are : who authorized him to release(deposit) funds up to that amount without appropriation when the funds don't belong to the CBN or his family?
Where is the money even after 10years?
These are the questions he would be answering EFCC officials.

Apparently education does not confer one with intelligence.

SMH

ahamonyeka:
Hahahahaha soludo when did you become a comedian?a whole falana does not know the different between a bank loan and a deposite.

Are you sure not being the comedian yourself?
Remove the big "E" in your "DEPOSITE" then go with your almighty Falana to defend you before Prof. Soludo.
As per your ignorance in "diference", take "DIFFERENT" as a loan.
...it is not good to be more Catholic than the Pope!

emajoe:


Are you sure not being the comedian yourself?
Remove the big "E" in your "DEPOSITE" then go with your almighty Falana to defend you before Prof. Soludo.
...it is not good to be more Catholic than the Pope!

what is this one saying? Oya take

Nigerians want change but when people are being asked to give account of their stewardship, they begin to bring tribal and religious sentiments to it.
Falana is a patriot and has paid more dues for democracy more than the likes of Soludo.
It's the sacrifice people like Falana made that provided opportunity for the democratic government that appointed Soludo as a matter of fact, Soludo and Co are like the proverbial baboon that was eating when the monkey was working.
He requested the EFCC to investigate this $7billion and suddenly people started fretting.
EFCC should investigate this money!! I stand with Falana.
Who is afraid of EFCC investigating this $7billion "deposit" to 14 banks.

emajoe:


Are you sure not being the comedian yourself?
Remove the big "E" in your "DEPOSITE" then go with your almighty Falana to defend you before Prof. Soludo.
...it is not good to be more Catholic than the Pope!

what is this one quoting? Oya take

Even Gani sometimes get it wrong.

Lets also be mindful that falana will have economists as consultants too.

I will wait for falz dad to reply. It was when he replied the first one that soludo remembered he deposited 7b he initially said he had no knowledge of

My own be say, has the money been returned to the CBN. Can it still be traced or it has vanished into thin air.

Efcc over to you.

Mujaheeeden:
What did falana do to deserve this uppercut

He stopped Buhari from bringing his certificate to Nigerians.

ahamonyeka:
what is this one saying? Oya take

I can now see what your palm if filled with.
Soon you will be calling your lawyer as
FAAAAALAAAAAA, NA!

emajoe:


I can now see what your palm if filled with.
Soon you you will be calling your lawyer:
FAAAAALAAAAAA, NA!

hahahaha who's lawyer are you not the one backing him up that his right?finish the weed I gave you so that you can think well.

Businessideas:
Nigerians want change but when people are being asked to give account of their stewardship, they begin to bring tribal and religious sentiments to it.
Falana is a patriot and has paid more dues for democracy more than the likes of Soludo.
It's the sacrifice people like Falana made that provided opportunity for the democratic government that appointed Soludo as a matter of fact, Soludo and Co are like the proverbial baboon that was eating when the monkey was working.
He requested the EFCC to investigate this $7billion and suddenly people started fretting.
EFCC should investigate this money!! I stand with Falana.
Who is afraid of EFCC investigating this $7billion "deposit" to 14 banks.

I give up on you! Your own ignorance has degenerated to the level of stewpidity. Go and school yourself before you come here and be posting trash, pardon my language

ahamonyeka:
Hahahahaha soludo when did you become a comedian?a whole falana does not know the different between a bank loan and a deposite.

were is the fanta from self?

Standing5:
Falana is right. Banks loan out deposits of depositors. For him to deposit money there without interest, it is a loan.

Zombie spotted.