This is news advert publication of Friday November 19,2009 Punch.

To be frank,it was the word ventriloquism that drew my attention to this articlet. Please read with along with me. The real subject I have written here.

The CBN DEBACLE:VENTRILOQUISM OR SELECTIVE AMNESIA?

The CBN Governor told shareholders of the banks which he said were distressed that they have lost their investments to the borrowers and to the government which had injected funds into banks. He further described their share certificates as “pieces of paper”.That was after he gave indications at the Stock Exchange in September that the banks were being rescued.

Vanguard,Monday,November 2, 2009 reports:
“We are merely being charitable when we talk about shareholders. Look,you have lost your money.”-CBN Governor

The News,August 31, 2009 reports:
“Because we do not intend to own the banks,I see this as a temporary capital until they can raise new funds”-CBN Governor

During his meeting with the chairman of the five affected banks,the CBN Governor,Sanusi Lamido Sanusi said: “At the option of the Central Bank of Nigeria,the advance shall be convertible into fully paid-up securities of the bank” (meaning: CBN shall have assumed ownership).

What else can be deduced from the CBN boss's classic case of inconsistencies but the fact that the man either suffers memory problems or he is deliberately creating confusion? His statements smack of deceit,for how can a public officer say one thing now and negate it the next minute? And can such a man be trusted to effectively run the nation's No 1 bank? Are his actions so far not a reflection of his apathy towards shareholder,and perhaps the plight of the common man?

According to Rewane Bismarck,a well-respected financial guru in The Guardian of Sunday,November 1, 2009: “ The CBN does not determine the value of shareholders' fund;the market does. The CBN is not in the market;it is a regulator”. If Mr CBN Governor considers himself competent,how come he fails to recognize this basic tenet of shareholding? Or does he hope that by speaking from both ends of his month he can bamboozle the shareholders of those unfortunate banks into relinquishing their share?
MR CENTRAL BANK GOVERNORS,NIGERIANS DEMAND AN ANSWER.

Renaissance Professionals signed by Victor Shodipo,Ikeja,Lagos