paddy_lo:

I have asked u before. .If that is the case. .why does Nigeria still attract the largest FDI in Africa
Larger than all those countries on your list?
You have Lekki free trade zone in Lagos with a chinese consortium. . u have NNPC signing Refinery agreements worth $8billion last week with more to come
[b]
and even some Foreign Banks are jostling to Bring in expertise and FDI to purchase some of the banks
see bloomberg link. . . .below[/b]

naijaking1:

The last sentence of Sanusi's rebutal read:

The statement therefore appealed to the media to de-emphasize sensationalism in their reportage of such sensitive issues that might send wrong signals to the market with negative repercussions on the economy.

I shout Allyluiah again, again, and again.
Unfortunately, Sanusi has not rebuted any of his numerous briefings that show his hostility towards capitalism, and penchant for cheap populism. From shooting CEOs that have not been convicted, to calling them "criminals", to making anti-economic policies for our nation, to flouting his heritage over and above all others, to castigating other ethnic groups, this mallam has never rebutted any of his unguraded statments when Yar'dua was alive, and Sanusi had free reign on running our economy to the ground. Now at least somebody taps him on the shoulder and he returns to press the next day for a rebutal. I say praise God, Allyluiah

If you're still blindly supporting every action Sanusi has taken since coming into office, because of this rebutal, be rest assured that as a pathological self-promoting performer, Sanusi will return to make even more embarrasing statements about our economy.

~Bluetooth:

Anybody have idea on what will happen to intercontinental bank ?

rethink:

@post

You know it is very funny when we see people jump on the throats of our leaders, when our leader make statements that are factual. In our civil psychology we are made to believe that some people are born to squander our monies and given awards for doing so.

Bank managers have so much power and blatantly misuse the trust of the populace when discovered it should be covered because of investors confidence? It is like your son fails an exam and you pay money for him to be moved to the next class because you dont want him to feel shamed.

You know we can all lie about the banking industry in Nigeria and deceive the world to invest in Nigeria but when the investors come back for their money the truth will come, then the hard line Mr Sanusi is taken would be a small fry compared to what would happen.

I will give you a little history, back in the 80s when we were supposed to invest massively power sector we failed to do so. People did not pay light bills, we were eating the power cake then about 20 years later we are reaping the benefits of our sins. What we would have used 10 billion dollars to do we now have to spend 30 billion dollars. If Ghana or S.Africa was in Darkness you think SOME Nigerians would care?

To build trust and repentance the truth must be told publicly.

A few years back a friend of mine described the nigerian stock exchange in the exact words that sanusi just did. most nigerians have wallowed in corruption for too long to realize the damage that the stock exchange has done. i dont think most posters even read what he said about the stock exchange. it is so easy for a group of people to pull resources together set up a dummy company convince a bank to back them, (which is easy considering that an individual owns 40-50% of the bank) find a stooge in the stock exchange, go on air and advertise for the sale of shares to gullible nigerians claiming millions in return. After a few months post ridiculous profits with nothing paid out as dividend and after a while announce the company has gone under meanwhile boys don chop. Funny thing is what i have described has happened time and time again but nigerians with their amnesia cannot and will never remember. NIGERIANS I HAIL THEE.

only in 9ja will someone make a statement like this and still be the governor of the CBN.

Not necessarily,In most developed/developing country the CBN is independent and sometimes the Governors do make statements that are not favorable to the GOVT in power. .
For example one of the heads of the FED in America last week criticized OBAMA and congress for bringing uncertainty into the american economy with their legislative agenda

Now in Nigeria Obasanjos reforms made the CBN independent,with the CBN act

It is very difficult to remove a CBN Governor(it needs 2/3rds of congress and so on)

It is actually a good thing as it helps to stop GOVT interference with the CBN

Its just that the person nominated to the post this time is just too eager to shoot his trap and play to the gallery. .

Like someone said earlier perhaps he is filling that his prayer kettle with hard liquor instead of water. . .

paddy_lo:

[b]Its your responsibility as an investor to do your due diligence before you invest your money. . .

If u refuse to invest in blue chip companies like JULIUS BERGER,GUINESS,DANGOTE CEMENT,OANDO,NESTLE,NIGERIAN BREWERIES,GTB and so on

then u deserve to loose all your money

After all on the NYSE there are plenty penny stocks

some even backed by your uncle sam(America),have gone bankrupt and had to be de-listed. . ie fanny mae and freddy mac[/b]

With no technical analysis at our disposal (charts and graphs) or fundamental analysis (news), how in God’s name can we “do due diligence” before we invest?. Like is said I do not think people are actually comprehending all that sanusi is saying.

paddy_lo:

I dont know where u reside but there is fundamental /Technical analysis for most Nigerian blue chip companies if u do your research well

I am in the USA but i follow company news on CNBC Africa and businessdayonline.com
and i get charts of specific companys from various websites e.ghttp://www.proshareng.com/news/index.php?id=8154

Again its your money,if u dont take care of it well,dont go blaming others

Bros I have just checked out the site that you posted? Where is the technicals to back the fundamentals there? And don’t tell me that the yeye graphs shown there can help you make a decision on what to invest in. You cannot have one without the other. That is impossible. What you have there is what sanusi is talking about; a group of people/organisation posting what could be true as well as untrue with no way to filter out either one. I do not invest in any company in Nigeria nor ever will. I am not a gambler. I am okay with my TSP’S

paddy_lo:

@Bidemi12

Heres the Nigerian all share index on bloomberg u can do a little more with it. . .bottom line get yourself a bloomberg terminal. . import your charts and do your DD
No one gives out detailed free info anymore
[url]http://noir.bloomberg.com/apps/cbuilder?ticker1=NGSEINDX%3AIND[/url]