i think it is time for us to support people  who are respected all over the world to be our  leaders and not charlattans. can Andy Uba be a governor in US looking at his pedigree if he is an american ? the ans is no. But can solodu be if he is an american, the ans is yes. they are few people in nigeria that have the kind of profile solodu have. we need people like him to be governor. Everybody  is happy with Fashola today ,  remenber Fashola was a senior advocate, that is the highest u can acheive in law here, Please lets give soludo a chance. we need educaed , talented and trusted people to manage our resources not motor pack aboros who just stumble into money.

i think all we have to do now is to pray that god will give pple who'll lead politics in this country,rule of law is not effective.

On the issue of Banking. The last decade or more was a time of Financial Boom in the Banking industry worldwide. This Boom was fuelled by innovative activities like 'Securitization'. Some Financial experts have written about this phenomenon with the Governor of the Bank of England describing the era as an era of enourmous 'search for yield' while professor Markus Brunnemeier of Princeton University in New Jersey describe it as what he called 'Originate and distribute' which replaced conservative banking processes. Yes the period was a period of high risk taking worldwide and Nigerian banks took part in those high risk taking in our quest to compete with others in the global economy.
Our Banking industry grew at the time, depositors were more confident in the safety of their deposits, we digitalized our banking system a lot better, created more jobs for youths through the banking system. But because we tried to integrate and catch up with the rest of the world, we were bound to have a piece of the pie when things go wrong.

The sub-prime mortgage crisis which led to the global financial crisis did not affect Nigeria per say. However the consequent fear of the unknown led to foreign investors taking their cash off our system in what has been described as a cash flight.
When the Financial Crisis hit, countries like UK engaged in things like Bank Recapitalization in their quest to stem the crisis. It is important to note that at this time Nigeria had already recapitalized in our consolidation exercise, this particular truth led to other countries wondering whether Nigeria foresaw the crisis.
But what you can not necessarily control before hand is the reaction of things like the stock market in the face of such cash flight and lack of investor confidence worldwide fueled by nothing else but protectionism and fear of the unknown.

However, when things go wrong it is imperative to ask questions and assess how you can do things better? It is called CONTINUOS IMPROVEMENT. It was Soludo who in the face of the global financial crisis and its impact in the Nigeria financial system initiated an audit of Nigerian Bank activities at the interbank and their credit profile. It was this same audit which Soludo instigated that Sanusi has used for his so called reforms. Yes maybe Soludo may have dealt with the outcome of his report in a different way and may not necessarily engage in militant grandstanding with the Banks. It is also instructive that Sanusi has not put any blames squarely on the doorsteps of his predecessor in fact he has come out to defend Soludo in the face of a blackmail in what some want to call polymer-gate.

The recent revelation by the Bank of England that they had secretely bailed out the Royal Bank of Scotland in 2008 is instructive of how serious countries deal with these problems in their financial system. The CBN Governor does not necessarily have to be at war with the Banks. The last time I checked the number of Bank Chiefs you sack is not a macro-economic index. Let us hope and pray that Sanusi succeeds in his approach to things. But that there is need for reform does not necessarily mean the years past has been a failure. It just means we have to continue to improve. Mervin King the Governor  of the Bank of England, and Ben Bernanke the Federal Reserve Chairman who presided over their central banks at the time when these crisis hit have not been tied to a stake and shut dead. They have not even seen the very viscous personal attack which Soludo has faced. In fact they have been kept on at the centre of the efforts to resolve the crisis.  Please let us not crucify Soludo for Nothing. Dr Mansur Muhtar the Finance Minister has said it repeatedly that we did not bear the full weight of the global financial crisis because our financial system went into the global finanacial crisis a very formidable system. All this is down to Soludo’s work as CBN Governor.

Anybody who believes that Sanusi could save a melting Bank by simply standing on a pulpit to announce the sack of 5 Bank chiefs as well as announce cash injection which evidence showed was not immediately needed or used by the Banks simply will believe anything. We need to improve, I hope Sanusi continue to lead the effort to make those improvements but the last 5 years have not been a failure. We don’t need to throw the baby with the bath water just because of politics.

Soludo is the Best CBN Governor so far. I hope for the sake of Nigeria Sanusi surpasses his records in due course.

@ Mike

Am wowed by this excellent piece. I try to understand though when some Nigerians call for Soludo's head. Am kind of suprised smtimes when people weave elitism to the events of Soludo's era and a little thereafter.

A lot of work was done and am sure most people understand it.  But you know, the hunger in the land wont go away in an eye-blink and so people will still be angry.

Good piece there mike.

[size=8pt][size=8pt][size=8pt][size=8pt]Soludo still remains the best thing that ever happened to CBN and will happen to Anambara-posterity will prove me right. It is now time to challenge all the candidates to a debate to see what they can offer. i bet you UBA will be last, Solution(Soludo) first. We need a governor that will reposition the state and allow us achieve our full potentials, cleanup dirty onitcha. We need to put sentiments aside and judge with our heads, who is the best for us. most of the people talking are not Anambarians!be wise!we need Solution![/size][/size][/size][/size]

mikeansy:

@ Bokoharam

On the issue of Banking. The last decade or more was a time of Financial Boom in the Banking industry worldwide. This Boom was fuelled by innovative activities like 'Securitization'. Some Financial experts have written about this phenomenon with the Governor of the Bank of England describing the era as an era of enourmous 'search for yield' while professor Markus Brunnemeier of Princeton University in New Jersey describe it as what he called 'Originate and distribute' which replaced conservative banking processes. Yes the period was a period of high risk taking worldwide and Nigerian banks took part in those high risk taking in our quest to compete with others in the global economy.
Our Banking industry grew at the time, depositors were more confident in the safety of their deposits, we digitalized our banking system a lot better, created more jobs for youths through the banking system. But because we tried to integrate and catch up with the rest of the world, we were bound to have a piece of the pie when things go wrong.

The sub-prime mortgage crisis which led to the global financial crisis did not affect Nigeria per say. However the consequent fear of the unknown led to foreign investors taking their cash off our system in what has been described as a cash flight.
When the Financial Crisis hit, countries like UK engaged in things like Bank Recapitalization in their quest to stem the crisis. It is important to note that at this time Nigeria had already recapitalized in our consolidation exercise, this particular truth led to other countries wondering whether Nigeria foresaw the crisis.
But what you can not necessarily control before hand is the reaction of things like the stock market in the face of such cash flight and lack of investor confidence worldwide fueled by nothing else but protectionism and fear of the unknown.

However, when things go wrong it is imperative to ask questions and assess how you can do things better? It is called CONTINUOS IMPROVEMENT. It was Soludo who in the face of the global financial crisis and its impact in the Nigeria financial system initiated an audit of Nigerian Bank activities at the interbank and their credit profile. It was this same audit which Soludo instigated that Sanusi has used for his so called reforms. Yes maybe Soludo may have dealt with the outcome of his report in a different way and may not necessarily engage in militant grandstanding with the Banks. It is also instructive that Sanusi has not put any blames squarely on the doorsteps of his predecessor in fact he has come out to defend Soludo in the face of a blackmail in what some want to call polymer-gate.

The recent revelation by the Bank of England that they had secretely bailed out the Royal Bank of Scotland in 2008 is instructive of how serious countries deal with these problems in their financial system. The CBN Governor does not necessarily have to be at war with the Banks. The last time I checked the number of Bank Chiefs you sack is not a macro-economic index. Let us hope and pray that Sanusi succeeds in his approach to things. But that there is need for reform does not necessarily mean the years past has been a failure. It just means we have to continue to improve. Mervin King the Governor of the Bank of England, and Ben Bernanke the Federal Reserve Chairman who presided over their central banks at the time when these crisis hit have not been tied to a stake and shut dead. They have not even seen the very viscous personal attack which Soludo has faced. In fact they have been kept on at the centre of the efforts to resolve the crisis. Please let us not crucify Soludo for Nothing. Dr Mansur Muhtar the Finance Minister has said it repeatedly that we did not bear the full weight of the global financial crisis because our financial system went into the global finanacial crisis a very formidable system. All this is down to Soludo’s work as CBN Governor.

Anybody who believes that Sanusi could save a melting Bank by simply standing on a pulpit to announce the sack of 5 Bank chiefs as well as announce cash injection which evidence showed was not immediately needed or used by the Banks simply will believe anything. We need to improve, I hope Sanusi continue to lead the effort to make those improvements but the last 5 years have not been a failure. We don’t need to throw the baby with the bath water just because of politics.

Soludo is the Best CBN Governor so far. I hope for the sake of Nigeria Sanusi surpasses his records in due course.

Mike, my dear,
Ur analysis is trite and no longer news. I agree to a very reasonable extent.
May I correct your position that, “The sub-prime mortgage crisis which led to the global financial crisis did not affect Nigeria per say.”
Maybe, you work in a financial institution, but u need to have a good understanding of how banking runs. Pardon my misjudgment; I may b wrong.
By the way: Do you know that all commercial banks in Nigeria have correspondent banks abroad? I hope u know that Nigerian banks enjoyed credit lines to establish & confirm LCs/foreign trade guarantees. Do you know that when these correspondent banks became stressed, they started calling up there credit lines with Nigerian banks? Do u know that this alone affected the liquidity ratios of banks b/c they had to pay with Naira before the obligations matured? Go & ask people in International (Foreign) Operations/Treasury departments of Nigerian banks what they went (& are still going) through. Did you know that one of the reasons (amongst other two) CBN intervened in these banks is their inability to meet liquidity ratios? Nigerian banks created huge risk assets, but unfortunately had to deplete their deposit liability to prematurely repay credit lines abroad, further worsening their statutory liquidity requirement. Yet, somebody whose job it was to take precautionary measures went to bed, saying there was no cause for alarm!!!

“It is important to note that at this time Nigeria had already recapitalized in our consolidation exercise, this particular truth led to other countries wondering whether Nigeria foresaw the crisis. “

Note that Nigeria recapitalized b/c our capital was far from the int’l avg, it was also meant to assist us grow the real sector and small scale businesses. Today, the real sector did not grow; banks still never lent to dt sector and to small scale bizs. Now, the main issue also bothers on Soludo’s compromising attitude on regulation. Do you know that Soludo did not ‘notice’ (or pretended not to notice) that most of our cleared 25 banks:
1. Did not have up to N25bn by Jan 2006
2. Most capital brandished were but bubbles
And these 2 issues are the problems banks r having 2day. Soludo was corrupt, enriching himself. D CEOs were stuffing his mouth & pockets with money & he looked d other way. If he had acted d way Sanusi is doing, we wouldn’t have found ourselves in this BIG SH*T. he was simply out to enrich himself.
Come to think of it. You said Soludo recapitalized banks. Of what use is capitalizing to the tune of N25Bn and writing off N300Bn, resulting in negative shareholders’ funds? Can u answer? I hope you have some understanding of accounting and prudential guidelines. Can you also say that the huge negative Sh’holders’ funds are not real?

“It was Soludo who in the face of the global financial crisis and its impact in the Nigeria financial system initiated an audit of Nigerian Bank activities at the interbank and their credit profile. It was this same audit which Soludo instigated that Sanusi has used for his so called reforms.”
4get about Soludo’s claim that he initiated d audit & could have done d same; he had been doing bank audits for d past 4 years. If he had not been compromising, if he didn’t sell his personality and integrity, why did bank CEOs lobby for him to be retained as CBN gov this year? I hope u know that a whopping N2Bn was spent in lobbying to retain Soludo? Who contributed the funds?
You also said that Soludo never claimed that Nigeria wasn’t immune to meltdown ripples. Let me agree with you. What is happening now? Did Nigeria have the muscle to absorb the shock, when the chips were down? What did he put in place to cushion the effect? He only left Nigerian banks with holes, bubbles and negative shareholders’ funds. It clearly shows he was not there. What he did is what the Nigerian police do when they are in a checkpoint. They are distracted, busy collecting N50 that armed robbers pass & at times shoot them & move on. He was not focused. When these things were happening, I saw it coming; I wasn’t a CBN gov. I never held a FIRST CLASS degree in Economics, but it takes just vision and focus (not distraction) to pilot affairs. He acted like the Nigerian policeman. And, the feelings I have about our police today is what I have about Prof Soludo. He is corrupt.

It is also instructive that Sanusi has not put any blames squarely on the doorsteps of his predecessor in fact he has come out to defend Soludo in the face of a blackmail in what some want to call polymer-gate.

That is maturity in d highest degree! The polymer note issue could also be true. I think it was John Maxwell who said, “If you cannot trust somebody at all times, you cannot trust him at any point in time.” Because he had so many fishy things around him, people are right to suspect him all around. And, I bet you, monies were embezzled in that contract. Any how you view it, Sanusi rubbished Soludo. It is glaring.

“The recent revelation by the Bank of England that they had secretely bailed out the Royal Bank of Scotland in 2008 is instructive of how serious countries deal with these problems in their financial system. The CBN Governor does not necessarily have to be at war with the Banks. The last time I checked the number of Bank Chiefs you sack is not a macro-economic index”

I hope u know d extent of decay in d Nigerian banking system? I hope u know wht those CEOs did? I hope u know how much they stashed out? I hope u know how they ran our banks? If u r not in Nigeria, pls, ask anybody working in any of d affected banks. Corporate Governance was ignored. Caution was thrown to d wind. How do u justify CEOs borrowing money 4rm their own banks to buy their bank shares? Is that not smoke screen? Yet, somebody was there acting as Saul, during the stoning of St Stephen, looking s other way. Talking abt bailout, Soludo shld hv done dt last year, but his interest was somewhere else—selfish aggrandizement of funds and egunje. What a shame! Let’s not start!
The CEOs of banks abroad took business risks, which only God could have known would be wrong decisions. They never contravened laws. They are not criminals, giving themselves loans, buying off banks in other African countries with and inflating the prices to siphon monies. My brother, we had criminals. Let us remove sentiments. I mentioned earlier that Soludo authorized the illegal acquisition of Spring Bank by PHB, u didn’t say anything about that. Maybe, that one too, is rumour. Did you ever follow the story? Who approved that illegal deal? Why? Did you hear me talk about Finbank? Do you know the story? You can investigate further for details. Luckily all those issues are stories now. I can conjecture that you live abroad and read only the propaganda that Soludo & his men want you to read. Did you hear that Akingbola of Intercontinental arranged with his loyalists to further steal and siphon N12bn even as he is in ‘exile’ now? This is why he is being tried for criminal charges. What does that tell you??

The point I still maintain is that Soludo is corrupt and, as such, a born-again criminal like Ngige is more trustworthy. Note that I have never mentioned Andy Ubah for the same reason that he was fronted by OBJ. Can anything good come out of that chaperoned nomination? No!

Believe it or not, d blood of all these innocent bank employees sacked everyday will b on Soludo’s head.

The long and short of my sermon is that we need men of integrity to take over power in Nigeria. Soludo is somebody who can sell the whole of Anambra state for his personal ambition and interest.

Meet me, let’s talk. I have a lot of things to do. I think I’m getting tired of writing. My mail name is mybokoharam@yahoo.com.

Also tell Calyx, your partner-in-campaign for ignoble characters to contact me. I stand on integrity, and CHANGE. Period! You will say I told you, if Anambrarians do NOT vote wisely. Leadership is not about blueprints and academic pedigree. It's about discipline, selflessness, love for the ruled/governed and passion for your fatherland. You will realise that I keep saying NGIGE & OBI, at least that will tell I am not a paid political jobber. I have no personal interest in any of the duo. We are analysing pedigree here. How I wish it's my state that I am even fighting for; anyway, I believe in Nigeria.

[I think points are not muddled up here; u can ignore the previous.]



Mike, my dear,

Ur analysis is trite and no longer news. I agree to a very reasonable extent.
May I correct your position that:

“The sub-prime mortgage crisis which led to the global financial crisis did not affect Nigeria per say.”

Maybe, you work in a financial institution, but u need to have a good understanding of how banking runs. Pardon my misjudgment; I may b wrong.

By the way: Do you know that all commercial banks in Nigeria have correspondent banks abroad? I hope u know that Nigerian banks enjoyed credit lines to establish & confirm LCs/foreign trade guarantees. Do you know that when these correspondent banks became stressed, they started calling up there credit lines with Nigerian banks? Do u know that this alone affected the liquidity ratios of banks b/c they had to pay with Naira before the obligations matured? Go & ask people in International (Foreign) Operations/Treasury departments of Nigerian banks what they went (& are still going) through. Did you know that one of the reasons (amongst other two) CBN intervened in these banks is their inability to meet liquidity ratios? Nigerian banks created huge risk assets, but unfortunately had to deplete their deposit liability to prematurely repay credit lines abroad, further worsening their statutory liquidity requirement. Yet, somebody whose job it was to take precautionary measures went to bed, saying there was no cause for alarm!!!

“It is important to note that at this time Nigeria had already recapitalized in our consolidation exercise, this particular truth led to other countries wondering whether Nigeria foresaw the crisis. “

Note that Nigeria recapitalized b/c our capital was far from the int’l avg, it was also meant to assist us grow the real sector and small scale businesses. Today, the real sector did not grow; banks still never lent to dt sector and to small scale bizs. Now, the main issue also bothers on Soludo’s compromising attitude on regulation. Do you know that Soludo did not ‘notice’ (or pretended not to notice) that most of our cleared 25 banks:

1. Did not have up to N25bn by Jan 2006
2. Most capital brandished were but bubbles

And these 2 issues are the problems banks r having 2day. Soludo was corrupt, enriching himself. D CEOs were stuffing his mouth & pockets with money & he looked d other way. If he had acted d way Sanusi is doing, we wouldn’t have found ourselves in this BIG SH*T. he was simply out to enrich himself.

Come to think of it. You said Soludo recapitalized banks. Of what use is capitalizing to the tune of N25Bn and writing off N300Bn, resulting in negative shareholders’ funds? Can u answer? I hope you have some understanding of accounting and prudential guidelines. Can you also say that the huge negative Sh’holders’ funds are not real?

“It was Soludo who in the face of the global financial crisis and its impact in the Nigeria financial system initiated an audit of Nigerian Bank activities at the interbank and their credit profile. It was this same audit which Soludo instigated that Sanusi has used for his so called reforms.”

4get about Soludo’s claim that he initiated d audit & could have done d same; he had been doing bank audits for d past 4 years. If he had not been compromising, if he didn’t sell his personality and integrity, why did bank CEOs lobby for him to be retained as CBN gov this year? I hope u know that a whopping N2Bn was spent in lobbying to retain Soludo? Who contributed the funds?

You also said that Soludo never claimed that Nigeria wasn’t immune to meltdown ripples. Let me agree with you. What is happening now? Did Nigeria have the muscle to absorb the shock, when the chips were down? What did he put in place to cushion the effect? He only left Nigerian banks with holes, bubbles and negative shareholders’ funds. It clearly shows he was not there. What he did is what the Nigerian police do when they are in a checkpoint. They are distracted, busy collecting N50 that armed robbers pass & at times shoot them & move on. He was not focused. When these things were happening, I saw it coming; I wasn’t a CBN gov. I never held a FIRST CLASS degree in Economics, but it takes just vision and focus (not distraction) to pilot affairs. He acted like the Nigerian policeman. And, the feelings I have about our police today is what I have about Prof Soludo. He is corrupt.

It is also instructive that Sanusi has not put any blames squarely on the doorsteps of his predecessor in fact he has come out to defend Soludo in the face of a blackmail in what some want to call polymer-gate.

That is maturity in d highest degree! The polymer note issue could also be true. I think it was John Maxwell who said, “If you cannot trust somebody at all times, you cannot trust him at any point in time.” Because he had so many fishy things around him, people are right to suspect him all around. And, I bet you, monies were embezzled in that contract. Any how you view it, Sanusi rubbished Soludo. It is glaring.

“The recent revelation by the Bank of England that they had secretely bailed out the Royal Bank of Scotland in 2008 is instructive of how serious countries deal with these problems in their financial system. The CBN Governor does not necessarily have to be at war with the Banks. The last time I checked the number of Bank Chiefs you sack is not a macro-economic index”

I hope u know d extent of decay in d Nigerian banking system? I hope u know wht those CEOs did? I hope u know how much they stashed out? I hope u know how they ran our banks? If u r not in Nigeria, pls, ask anybody working in any of d affected banks. Corporate Governance was ignored. Caution was thrown to d wind. How do u justify CEOs borrowing money 4rm their own banks to buy their bank shares? Is that not smoke screen? Yet, somebody was there acting as Saul, during the stoning of St Stephen, looking s other way. Talking abt bailout, Soludo shld hv done dt last year, but his interest was somewhere else—selfish aggrandizement of funds and egunje. What a shame! Let’s not start!

The CEOs of banks abroad took business risks, which only God could have known would be wrong decisions. They never contravened laws. They are not criminals, giving themselves loans, buying off banks in other African countries with and inflating the prices to siphon monies. My brother, we had criminals. Let us remove sentiments. I mentioned earlier that Soludo authorized the illegal acquisition of Spring Bank by PHB, u didn’t say anything about that. Maybe, that one too, is rumour. Did you ever follow the story? Who approved that illegal deal? Why? Did you hear me talk about Finbank? Do you know the story? You can investigate further for details. Luckily all those issues are stories now. I can conjecture that you live abroad and read only the propaganda that Soludo & his men want you to read. Did you hear that Akingbola of Intercontinental arranged with his loyalists to further steal and siphon N12bn even as he is in ‘exile’ now? This is why he is being tried for criminal charges. What does that tell you??

The point I still maintain is that Soludo is corrupt and, as such, a born-again criminal like Ngige is more trustworthy. Note that I have never mentioned Andy Ubah for the same reason that he was fronted by OBJ. Can anything good come out of that chaperoned nomination? No!

Believe it or not, d blood of all these innocent bank employees sacked everyday will b on Soludo’s head.

The long and short of my sermon is that we need men of integrity to take over power in Nigeria. Soludo is somebody who can sell the whole of Anambra state for his personal ambition and interest.

Meet me let’s talk. I have a lot of things to do. I think I’m getting tired of writing. My mail name is mybokoharam@yahoo.com. Also tell Calyx, your partner in campaign for ignoble characters. I stand on integrity, and CHANGE. Period!

All these are my uncensored, personal opinions.

You brilliance is not in doubt but your application of your knowledge is shocking.

Where was Ben Bernanke and Mervin King when the same mistakes were made in US and UK? Why have they not killed them. Our banks did business like it was done at the time. That was the international norm for Banking and Finance, it was promoted by capitalism and free market economy. It was a world-wide error. To suggest that it has anything to do with Soludo's integrity should not be coming from someone who have mentioned all the financial terms above.

You mention the right financial terms, admit that credit lines from abroad dried up as a result of the global financial crisis (in what I too described as cash flight) and then turn around to suggest that somehow Soludo would have affected the reaction of international banks to their own crisis by being at war with our Banks is funny. This conclusion defies logic.

Suggesting Soludo is not willing to discipline the Banks when he considers it the only option is also not supported by facts. His story with WEMA Bank and what transpired does not support your argument.

On the issue of whether Banks played their intermediary role of lending to the real sector. We still have difficulties providing credit easily due to poor identity system. Banks will continue to have this problem until we have a credible National Identity System.  Folks like Sanusi Daggash and Shamsudeen Usman who at various times were planning minister and who could have colluded to resolve this aspect of the problem were busy playing politics with the CBN Governor rather serving the greater good.

Do you honestly want to tell me Soludo achieved nothing as CBN Governor?

I also find it amazing that you concluded your post by suggesting Ngige was your candidate.

You want to crucify Soludo with unsubstantiated claims of corruption open to debate. But will to accept a candidate whom a court of law threw out from office for rigging the people's vote and who mounting evidence showed that he went to a shrine to swear an oath, signed away the treasury of Anambra State just to get into the Government House.

I THINK IF THERE IS ANYONE WHO WILL DO ANYTHING FOR THEIR SELFISH AMBITION WE KNOW WHO IT IS.

Soludo on the other hand has taken a stand like a man and a great leader does even before the election. Chris Uba and Andy Uba have been put in their place. They are what they are 'small boys' as far as the PROF is concerned.

When the 'IJELE' shows up, obele mmanwu has no choice but to give way.

The Point is that the banks gave loans to cronies without collateral or adequate collateral, even beyond what is allowed by their own rules and regulation. That is a violation of banking rules anywhere. If these atrocities were committed in the US or UK, the CEO will be in jail and nor parading themselves around arousing tribal and ethnic sentiments.

To all that wants true democracy to thrive in Nigeria, the selection of Soludo by PDP is totally outrageous without regard to the party's laid down rules and for Soludo to accept that selection contravenes everything that is expected of an educated person, and his acceptance just showed how morally bankrupt and corrupt he is with the best of them, and hence why he left our banks in the worst shape that they are in now.

It is a total shame and really a sad commentary on the Nigeria political system, because who then can you trust and rely upon to do the right thing. Attaining the position of a king in a corrupt way produces a corrupt king, hence Soludo will a be a corrupt and inept governor and he will be rigged into wining just as he was rigged to be his party's flagbearer.

Come Feb 2010, the victorious march of Cee Cee Soludo to Awka government house would put his detractors and press blackmailers to shame and opprobium.
Cee Cee is the Solution!!!!

@Timmi, in all honesty,what would u have done,if u were PDP who were restrained by a court order barring them from holding their primaries? Would u have explored ur second option of nominating a consensus candidate or stand the risk of not participating in the election, given the deadline set by INEC?

Johnpaul88:

@Timmi, in all honesty,what would u have done,if u were PDP who were restrained by a court order barring them from holding their primaries? Would u have explored your second option of nominating a consensus candidate or stand the risk of not participating in the election, given the deadline set by INEC?

^^^^^ Dont mind him. . . Some times I'm perplexed with the level of hypocrisy being displayed by Nigerians . . . It is a known fact that APGA, AC, ANPP and most of the political parties gunning for the Anambra guber election didnt conduct any primary election. . . Most of these political parties saw how tough the Anambra election would be and they chose to selet credible candidates rightaway ~~` Hence, why should the criteria be different for Soludo and PDP.

Johnpaul88:

@Timmi, in all honesty,what would u have done,if u were PDP who were restrained by a court order barring them from holding their primaries? Would u have explored your second option of nominating a consensus candidate or stand the risk of not participating in the election, given the deadline set by INEC?

Ignore people who wrap their political sentiments and strategy under the guise of calling for democracy.

After the court order restraining PDP from conducting primaries they wanted PDP not a field a candidate at all. This is more about not wanting PDP to take part at all and as such increasing the chances of their prefered candidates.

Otherwise how do you explain a situation where it is an issue for PDP to select a candidate and not an issue when AC, APGA, LP does the same?

I think maybe before we reform politics itself, we need to reform ourselves and our appreciation of politics. How does anybody hide under the guise of PDP own rules to exclude them from taking part in the general election? I think it is a symbol of cowardice and bereft of ideas that instead of discusing their own programmes for Anambra people, they spend more time discussing PDP and its internal politics.

Timmi:

The Point is that the banks gave loans to cronies without collateral or adequate collateral, even beyond what is allowed by their own rules and regulation. That is a violation of banking rules anywhere. If these atrocities were committed in the US or UK, the CEO will be in jail and nor parading themselves around arousing tribal and ethnic sentiments.

To all that wants true democracy to thrive in Nigeria, the selection of Soludo by PDP is totally outrageous without regard to the party's laid down rules and for Soludo to accept that selection contravenes everything that is expected of an educated person, and his acceptance just showed how morally bankrupt and corrupt he is with the best of them, and hence why he left our banks in the worst shape that they are in now.

It is a total shame and really a sad commentary on the Nigeria political system, because who then can you trust and rely upon to do the right thing. Attaining the position of a king in a corrupt way produces a corrupt king, hence Soludo will a be a corrupt and inept governor and he will be rigged into wining just as he was rigged to be his party's flagbearer.

Dear Timmi,

You got the point and u showed understanding of what's on ground. It's so sad that Anambra will still end up in the hands of hawks and corrupt people.

Anybody who has followed my previous comments on this knows that:

1. I am not from Anambra, and could nt have bn fronting for anybody;
2. I have advocated either of Peter Obi or Ngige, who have both been tested

They do not like Obi b/c he has been blocking holes for embezzlers. They didn't like Ngige b/c he refused to compromise in stealing from state treasury. We cannot say we want the best, but refuse to make the necessary sacrifices. When it concerns our relatives, we change the goal post. WHen will Nigerians learn?

I didn't want to respond to what my dear Mike & others have written; I invited them to further talk outside this arena. Mike speaks like somebody abroad, who is not on ground. I am on ground; I know where the shoe pinches. I also know d difference b/w censored info & unadultrated one.

We need to save this ship called Nigeria from sinking. Let us enjoy CHANGE for once. True change!

Bokoharam:


Dear Timmi,

You got the point and u showed understanding of what's on ground. It's so sad that Anambra will still end up in the hands of hawks and corrupt people.

Anybody who has followed my previous comments on this knows that:

1. I am not from Anambra, and could nt have bn fronting for anybody;
2. I have advocated either of Peter Obi or Ngige, who have both been tested

They do not like Obi b/c he has been blocking holes for embezzlers. They didn't like Ngige b/c he refused to compromise in stealing from state treasury. We cannot say we want the best, but refuse to make the necessary sacrifices. When it concerns our relatives, we change the goal post. WHen will Nigerians learn?

I didn't want to respond to what my dear Mike & others have written; I invited them to further talk outside this arena. Mike speaks like somebody abroad, who is not on ground. I am on ground; I know where the shoe pinches. I also know d difference b/w censored info & unadultrated one.

We need to save this ship called Nigeria from sinking. Let us enjoy CHANGE for once. True change!

You are not on ground.

If you are on ground, you are on a very wrong ground because your choice who is good for Anambra is all fcked up.

Mike, Calx & Onye Ngbu,

This news item from Punch of December 20, 2009 will interest you.

Pay attention the highlighted portion; it is not different from what I have been saying. Soludo lost focus b/c of Egunje period:


http://punchng.com/Articl.aspx?theartic=Art200912212455014

FG opposes mass lay-offs in banks
By Yemi Kolapo and Fidelis Soriwei, Published: Monday, 21 Dec 2009
The Federal Government has expressed concern over the mass sacking of workers in the banking sector.
It said through the Minister of Labour and Productivity, Chief Adetokunbo Kayode (SAN), that it would not allow any action by bank managements that could cause a labour crisis in the country.

Kayode, in a statement on Sunday by an Assistant Director in charge of Media in the Ministry of Labour and Productivity, Mr. Samuel Olowookere, therefore, directed the banks to stop the lay-offs.
But the Central Bank of Nigeria rose in defence of the banks, saying that they (banks) needed to shed “excess fat” in order to remain healthy.

The statement by Olowookere, which was made available to one of our correspondents, said that the Federal Government would meet with the CBN and the top managements of the banks to deliberate on the issue.
The statement reads in part, “ The minister warned that the recent report on the mass retrenchment in the banking sector would not be tolerated by the government, hence his resolve to meet with the operators in the banking industry including the CBN which is the regulator of the banking industry.”

About 2,500 jobs have been lost since the beginning of the banking sector reforms with more on the queue.
Last week, Oceanic International Bank Plc, which declared a loss of N286bn disengaged 250 members of staff out of the 1,400 pencilled down for sacking in its rationalisation exercise.

Similarly, Intercontinental Bank Plc reportedly sacked 1,365 workers out of a workforce of about 5,000 as a result of the shake-up in the banking sector.
Wema Bank Plc had sacked about 500 workers, including 25 top managers in September while Spring Bank Plc also reportedly laid off about 200 members of staff.
However, the Deputy Governor of the CBN, Mr. Tunde Lemo, told one of our correspondents during an interview on Sunday that the mass sacking sweeping through banks was inevitable.
Lemo added that it had been discovered through full disclosure and transparent financial reporting that the growth in the banking sector in the past three years had been superficial.
He said, “We have to understand the magnitude of the calamity that has befallen the global financial system. The most hit sector in this global meltdown is the financial sector. And we have discovered of late that the huge capital the banks had been saying they had was fake.
“If two-thirds of the capital the banks claimed they raised is not there, then it was bubble capital, which means that with the reality on the ground, they have to be slim and fit.
“If your actual income is found to be N50, 000 and you had been planning on N200, 000 by the time there is no escape route again, you have to cut down on the mouths that you feed. The banks, in this situation, must shed off excess fat.”
Lemo added that even the banks that were not affected by the bubble capital would also have to restructure by reducing wastes and staying trim.
The CBN deputy governor noted that whenever there was an upswing of all the sectors in the economy, the financial sector grew the fastest and during a downturn, it also shrinks the fastest.
“If the growth in the banking sector had been driven by falsification of accounts, they just must adjust to the reality,” he said.
Lemo, however, said the lost jobs would come back when the economy improved and the right environment was created for growth.
He said, “When the banks stabilise and the economy rebounds, I believe the jobs will come back. If we fix infrastructure, there will be a lot of activities. Right now, there is a lot of idle capital. When the economy swings back, the financial sector will also rebound.

“What is happening now is not peculiar to Nigeria. Colleagues have lost their jobs in the JP Morgans of this world and have come back home.”
Our correspondents also learnt on Sunday that some banks were considering shutting down their branches to cut cost.

However, President of the Trade Union Congress, Mr. Peter Esele, said on Sunday that the mass lay-offs in the banking sector were unfortunate and put part of the blame on the former Governor of the CBN, Prof. Chukwuma Soludo.
He said the problems of the bank were as a result of the ”dereliction of duty” on the part of Soludo, who is contesting for the governorship of Anambra State.
Esele expressed regret that apart from bank workers and their families that were affected by the crisis, other sectors of the economy were also feeling the pinch.
He said the TUC was prepared to give its full support to any action that the Association of Senior Staff of Banks, Insurance, and other Financial Institutions might consider.
National President of ASSBIFIE, Mr. Sunday Salako, in a telephone interview with our correspondent, also condemned the mass sackings saying that the association will take the matter up.
He said, ”We will write the banks. Those who do it (sack workers) without negotiating with us, we will not take it. We are against it and we condemn these action in its entirety.”
http://punchng.com/Articl.aspx?theartic=Art200912212455014

@Bokoharam, from all data at my disposal, it is indubitable that u hold an outright aversion for this man, soludo. U glory and pop champgne whenever baseless and unfounded allegation of ineptitude are preffered against. U are just being unfair.

Johnpaul88:

@Bokoharam, from all data at my disposal, it is indubitable that u hold an outright aversion for this man, soludo. U glory and pop champgne whenever baseless and unfounded allegation of ineptitude are preffered against. U are just being unfair.

I think boko haram is interested in a better Nigeria, free from corruption & ineptitude.

I have follwed his postings too.

All these peeps talking jargons in this thread, how many of you have renew ur voter's card. How re you sure ur favourite candidate will win when u don't have right 2 vote. Wot of effort are u making 2 move Anambra state forward other than talking jargons here? Anyway am fully registered 2 vote. Am a PDP member crossing over 2 labour party 2 vote for Dr. Andy Uba!

ijele:

All these peeps talking jargons in this thread, how many of you have renew your voter's card. How re you sure your favourite candidate will win when u don't have right 2 vote. Wot of effort are u making 2 move Anambra state forward other than talking jargons here? Anyway am fully registered 2 vote. Am a PDP member crossing over 2 labour party 2 vote for Dr. Andy Uba!

If you think its only Andy Uba and the people who he has bribed their conscience to vote are the only ones that have registered to vote, then you have to do a rethink because for every registered voter who is for Andy Uba, there is ten times as much that are supporters of Peter Obi, Chris Ngige and even the embattled Soludo.
Andy Uba has no chance at all. If PDP had lost out in the Supreme Court then there would have been hope for Andy Uba cos they might have formed an accord with him and his new party - Labour Party
The battle field is solely among the trio - Ngige, Obi and Soludo
May God provide us the much desired messiah, Amen!

ijele:

All these peeps talking jargons in this thread, how many of you have renew your voter's card. How re you sure your favourite candidate will win when u don't have right 2 vote. Wot of effort are u making 2 move Anambra state forward other than talking jargons here? Anyway am fully registered 2 vote. Am a PDP member crossing over 2 labour party 2 vote for Dr. Andy Uba!

This is not a campaign ground. Go 2 d field.

Obinoscopy:

If you think its only Andy Uba and the people who he has bribed their conscience to vote are the only ones that have registered to vote, then you have to do a rethink because for every registered voter who is for Andy Uba, there is ten times as much that are supporters of Peter Obi, Chris Ngige and even the embattled Soludo.
Andy Uba has no chance at all. If PDP had lost out in the Supreme Court then there would have been hope for Andy Uba cos they might have formed an accord with him and his new party - Labour Party
The battle field is solely among the trio - Ngige, Obi and Soludo
May God provide us the much desired messiah, Amen!

Andy Ubah is not in d picture at all. Dt OBJ fraudulently gave him power doesnt mean he can get there. No, nt in 2010. Mayb when pple's memories are purely erased.

Obinoscopy, I love your comment. The trio of Ngige, Obi & Soludo are more favoured.


The problem Soludo will face is his inability to regulate the banking sector properly. He got it right somewhere, but lost it at some point - out of greed, corruption, or God knows what!

Ngige is tested & reliable. Obi is more decent & honest; although our pple do not respect honest pple. His sin today is that he blocks holes for stealers & corrupt Anambrarians.

Let God give Anambra the best. And God can only do that through the people of Anambra.

i wish to congratulate anambra ppl whom have seen the best human being alive as their next gov(soludo).
i will be glad to chat with u all in the next six months.
i will also be glad to visit the new dubai without visa.
it is a thing of joy that in view of all odds, anambra is opportuned through the devil to be the next gov of anambra state.
what we are about to see in anambra state is a situation where mango tree will produce banana fruit. we all know those who came through the same door as soludo. a typical example of such name is our own yar adua.

i pray make him change dat stupid state called anambara if he wins.