Ibime:

Soludo built the base for the financial growth of our capital markets. You can't take that away from him. A lot of the financial infrastructure we built today was made possible by him.


My problem with Soludo is that he is not an upright man. There's a difference between letting the crisis ease slowly and condoning the outright robbery of the likes of Ibru and Akingbola who shoulda got the Madoff treatment straight-away. Soludo is now telling us that one of his options was to change the management of the banks, but would he really have done that given his cosy relationship with them?


As for Aganga, his quickness to justify the financial banditry of the GEJ regime, and even try to paint it in good light using SAP-type arguments is frankly disgusting. Remi Babalola lost his job for speaking the truth about the state of NNPC's coffers. SLS has criticised the budget severally. I would expect at one point, Aganga would find his conscience compromised and speak up against the financial recklessness of this administration, instead of defending it like a ZOMBIE all the time. Abi doesn't he have a career to go back to in London? I can't believe this same man set up the Nigerian Leadership Initiative 4 years ago for Nigerian professionals around the globe. Now he is in a leadership position, we find him to be just like the status quo. Soludo raised true points about Govt spending, and we expect a cogent response.

we need some current diplomatic cables.

it is clear that aganga has long since sold his soul. the question is for how much?

Soludo did well with the consolidation, but subsequently he took his eyes off the ball and was lacking in his post-consolidation oversight and regulatory functions. In as much as he was responding to Aganga, I suspect he would also get a response from Sanusi as well.

@ Beaf,

Is dt all u can say? U r a gross disappointment. I hv learnt to take Becomerich more serious dn u.

^
Aside from the above daft comment, this is your only other comment on this thread, and its foolish too.

homerac7:

M-A-S-S-A-C-R-E

Chei, c as soludo carry aganga mop floor here o! 

Soludo is still smarting from the very heavy loss team Atiku suffered at the PDP primaries, thats why he is making all these sudden challenges. Its funny really.

homerac7:

@ Beaf,

Is dt all u can say? U r a gross disappointment. I hv learnt to take Becomerich more serious dn u.

Very very trollish. What do you stand to gain by making inflammatory comments?

Aganga's appointment is a misleading attempt to fit a round peg in a square hole.  The dude has an impressive background having graduated from oxford and held positions in Hedge Fund management, but as a minister of Finance, what you need is an in depth well rounded background in Economics, NOT banking and Finance.

However, i consider it a shameful thing that a former CBN governor could write in a careless brazen manner as though the letter was addressed to his mistress. such a shameful thing indeed!

Aganga is a horrid example of a compromised tecnhnocrat . He is , perhaps , personally dishonest to boot. I see him as the "comical Ali" of the GEJ regime . Nonetheless , Soludo is entirely the wrong man to lay into Aganga so strongly even if he speaks correctly . Aganga is right that Soludo should be in jail rather than roaming around aspring to be a Governor and insulting the sensitivities of many he let down . In many Countries where folks are serious about punishing serious financial misconduct Soludo would indeed be in jail. Sarkozy and Merkel would certainly see Soludo in jail if our former CNB Governor is French or German. Let us not forget that Sanusi is now cleaning the very serious mess Soludo's recklessness caused . Soludo , IMO, deliberately and callously ignored his oversight duties , to the detriment of depositors , while CBN Governor. He is a dangerous man IMO and may be even more profligate than GEJ , if in pursuit of a target, despite knowing the difference between right and wrong . He is certainly no hero and no one should view him as such because he now takes on Aganga.

Aganga just lacks class . If not he would have ignored Soludo and everyone else to get on with his job- however stinging their criticism is. Instead he joins issues with a discredited loser like Soludo thereby giving him relevance. I really worry about how leaders and those who are led think in Nigeria . Soludo is out of the Government . What is he thinking challenging a current Minister to a debate? What are some Nairalander and Nigerian thinking when they say they welcome this debate? The office of Aganga , as an indictment on Nigeria,  is now a joke to the extent that he should publicly debate any tom, manliness and harry commentator? Every economist in Nigeria might as well challenge Aganga to a debate then since we have a jobless Finance Minister with nothing serious to do than debate everyone for our amusement.

violent:

Aganga's appointment is a misleading attempt to fit a round peg in a square hole.  The dude has an impressive background having graduated from oxford and held positions in Hedge Fund management, but as a minister of Finance, what you need is an in depth well rounded background in Economics, NOT banking and Finance.

However, i consider it a shameful thing that a former CBN governor could write in a careless brazen manner as though the letter was addressed to his mistress. such a shameful thing indeed!
On a personal note, i could pick out a hundred unforgivable grammatical errors with each paragraph, looks as though the manifestation of the rot in Nigerian's educational system is skin deep.

Gbawe:

Aganga is a horrid example of a compromised tecnhnocrat . He is , perhaps , personally dishonest to boot. I see him as the "comical Ali" of the GEJ regime . Nonetheless , Soludo is entirely the wrong man to lay into Aganga so strongly even if he speaks correctly . Aganga is right that Soludo should be in jail rather than roaming around aspring to be a Governor . In many Countries where folks are serious about punishing serious financial misconduct Soludo would indeed be in jail. Sarkozy and Merkel would certainly see Soludo in jail if our former CNB Governor is French or German. Let us not forget that Sanusi is now cleaning the very serious mess Soludo's recklessness caused . Soludo , IMO, deliberately and callously ignored his oversight duties , to the detriment of depositors , while CBN Governor. He is a dangerous man IMO and may be even more profligate than GEJ , if in pursuit of a target, despite knowing the difference between right and wrong . He is certainly no hero and no one should view him as such because he now takes on Aganga.

Aganga just lacks class . If not he would have ignored Soludo and everyone else to get on with his job- however stinging their criticism is. Instead he joins issues with a discredited loser like Soludo thereby giving him relevance. I really worry about how leaders and those who are led think in Nigeria . Soludo is out of the Government . What is he thinking challenging a current Minister to a debate? What are some Nairalander and Nigerian thinking when they say they welcome this debate? The office of Aganga , as an indictment on Nigeria,  is now a joke to the extent that he should publicly debate any tom, manliness and harry commentator? Every economist in Nigeria might as well challenge Aganga to a debate then since we have a jobless Finance Minister with nothing serious to do than debate everyone for our amusement.

i never actually thought of it that way. SLS did not bother taking on his critics. he stood firm and now his work is speaking for itself.

oyb:

i never actually thought of it that way. SLS did not bother taking on his critics. he stood firm and now his work is speaking for itself.

Indeed. In this particular triumvirate of financial and economic experts Sanusi is by far the only praiseworthy individual. Soludo may be brilliant and he may have started well but he turned out , in the end , to be just another callously materialistic and self-serving hack who let down the most vulnerable folks in the banking system he supervised . This is the same thing callous politicians , to the detriment of our nation , have done always i.e fail to protect and act in the interest of the most vulnerable in society - ordinary Nigerians. The good people of Anambra should count themselves lucky Soludo did not become their Governor.

Aganga too , we can assume , is brilliant to have risen to the heights he did before joining Government . He is however personally dishonest and perhaps transparently so . This is probably what attracted the GEJ Government. A desperate Government that would need a 'friendly' financial administrator to 'legitimise' the dissapearance of billions into thin air found its man in Aganga. So far he has performed admirably as a rabid dog blindly defending its master.

Sanusi is a better human being than Soludo and Aganga . He is not afraid to speak his mind and is not beholden to the elite system that has arisen to profit from the misery of ordinary Nigerians. Soludo belongs in jail and Aganga , by the end of his tenure , will probably deserve to be in jail also. Sanusi , on the other hand , seems a decent individual who understands his job responsibilities in its entirety. The appointment of Sanusi , along with the amnesty program, is Yar Adua's finest achievement IMO.

Gbawe:

Indeed. In this particular triumvirate of financial and economic experts Sanusi is by far the only praiseworthy individual. Soludo may be brilliant and he may have started well but he turned out , in the end , to be just another callously materialistic and self-serving hack who let down the most vulnerable folks in the banking system he supervised . This is the same thing callous politicians , to the detriment of our nation , have done always i.e fail to protect and act in the interest of the most vulnerable in society - ordinary Nigerians. The good people of Anambra should count themselves lucky Soludo did not become their Governor.

Aganga too , we can assume , is brilliant to have risen to the heights he did before joining Government . He is however personally dishonest and perhaps transparently so . This is probably what attracted the GEJ Government. A desperate Government that would need a friendly financial administrator to 'legitimise' the dissapearance of billions into thin air found its man in Aganga. So far he as performed admirably as a rabid dog blindly defending its master.

Sanusi is a better human being than Soludo and Aganga . He is not afraid to speak his mind and is not beholden to the elite system that has arisen to profit from the misery of ordinary Nigerians. Soludo belongs in jail and Aganga , by the end of his tenure , will probably deserve to be in jail also. Sanusi , on the other hand , seems a decent individual who understands his job responsibilities in its entirety. The appointment of Sanusi , along with the amnesty program, is Yar Adua's finest achievement IMO.

It is easy to spread rumours and slander people you do not know. What is your basis for saying Aganga is dishonest? It is a pretty serious claim to make. I would expect any person with the slightest modicum of decency to thoroughly back their words up, not just pluck gutter words to disparage another mans character from thin air.

By the way, what attracted your Tinubu to the drug trade and why do you not pick on his criminality? Is it that you customarily apply double standards? How can any Tinubu supporter condemn the current govt? Based on what?

Soludo just took the dumb finance minister to the cleaners . . . .  Anyway, I cant wait for Soludo to publish the synopsis of his tenure, as he promised,  so we can see how many real critics that would have the morale to pick up the gaunlet and challenge his claims. . . .

Beaf:

It is easy to spread rumours and slander people you do not know. What is your basis for saying Aganga is dishonest? It is a pretty serious claim to make. I would expect any person with the slightest modicum of decency to thoroughly back their words up, not just pluck gutter words to disparage another mans character from thin air.

By the way, what attracted your Tinubu to the drug trade and why do you not pick on his criminality? Is it that you customarily apply double standards? How can any Tinubu supporter condemn the current govt? Based on what?

How would I know ? Am I his son? If you talk about "double standards" you should look in the mirror. You display double standards on this forum more than a woman changes underwear. I have never been a supporter of Tinubu and I have made this clear many times but I don't expect you to ever acknowledge that because you are deliberately decietful and "personally dishonest"  . Abeg don't derail the thread with your shameless stalking inspired by personal vendetta. Face the discussion at hand.

Its not good to criticize your predecessor even in secret.

Irrespective of the fact that i will not take sides with the Minister of Finance for his impolite use of words, I take exception to the fact that Soludo actually said Nigeria was isolated from the global financial crises. I personally responded to him in thisday, March 30, please find the link below, i encourage everyone to read this:

Source: http://allafrica.com/stories/200903300087.html

I can stake my head for Soludo anytime, anyday. But, we shouldnt attack personalities and forget issues. This is fundamental. The difference between Soludo and Sanusi is that while Soludo is an academic authority, Sanusi is an ideologue. Without ideology your knowledge come to zero.

@ Jason123 U said my mind and quite rightly, with all Soludo may say its only clueless people that do not know how corrupt he is and he is not only Corrupt but very heartless.

Gbawe:

Indeed. In this particular triumvirate of financial and economic experts Sanusi is by far the only praiseworthy individual. Soludo may be brilliant and he may have started well but he turned out , in the end , to be just another callously materialistic and self-serving hack who let down the most vulnerable folks in the banking system he supervised . This is the same thing callous politicians , to the detriment of our nation , have done always i.e fail to protect and act in the interest of the most vulnerable in society - ordinary Nigerians. The good people of Anambra should count themselves lucky Soludo did not become their Governor.

Aganga too , we can assume , is brilliant to have risen to the heights he did before joining Government . He is however personally dishonest and perhaps transparently so . This is probably what attracted the GEJ Government. A desperate Government that would need a 'friendly' financial administrator to 'legitimise' the dissapearance of billions into thin air found its man in Aganga. So far he has performed admirably as a rabid dog blindly defending its master.

Sanusi is a better human being than Soludo and Aganga . He is not afraid to speak his mind and is not beholden to the elite system that has arisen to profit from the misery of ordinary Nigerians. Soludo belongs in jail and Aganga , by the end of his tenure , will probably deserve to be in jail also. Sanusi , on the other hand , seems a decent individual who understands his job responsibilities in its entirety. The appointment of Sanusi , along with the amnesty program, is Yar Adua's finest achievement IMO.

Am sure you are more intelligent than these rabid statements (in bold)

@ Beaf,

Of course, its no more news dt ur common sense in no more functional. If there is a foolish comment on ds thread, its urs. Soludo raised a serious issue n its only dumb-head like u dt can quickly shy away from addressing it n run to invent some fictitious excuse or boko haram/almajiri/ciroma/acf/northerners/bats/monkeys/gorillas/whatever as enemies. Una no dey shame? For how long will u keep telling lies n blaming others for GEJ n his cronies incompetence? Later u will shout Tinubu n acn, but never ur thieving godfather GEJ. Shame on u Beaf. Its so unfortunate dt at id age n acclaimed level of exposure, u don't know right from wrong. Tufiakwa!

D onus is on Aganga defend d issues brought against him n not mine. But it is only mischievous, barbaric, insincere, immoral, unwise n seriously criminal for a sane mind to look away from d gravity of issue at hand n look for flimsy excuses to divert d matter. It's an act connected wt incompetent n uncultured souls, wc u hav demonstrated times n over in many ways to b one. Good learning comes wt wisdom n character to produce sincerity, an attribute u r highly deficient of.

I believe I hav been generous to u wt much attention. Don't ever imagine dt I will b drawn into ur senseless n idiotic children ranting n mudn-slinging, I'm above it. Kapish? I will only get back at u someday in d future u will dare turn against d inglorious finger Dts feeding u- godfather GEJ. Let dt consciousness n fear b on ur mind.

@ Bawss or bAwSS or whatever ur name is,

R u for real or a pseudonym for Beaf/feab/mary_j_blige/whatever?

Abeg, try get life or go hide for somewhre jare,

calyx:

Am sure you are more intelligent than these rabid statements (in bold)

Rabid from what perspective? Anyway , take it however you want . This is my personal opinion and I stand by it. I believe Soludo was aware of what Cecilia and co were up to. I think he benefitted from their actions but we may never know this conclusively since the protection of those who are corrupt ,if they are influential and/or well connected , is the norm in Nigeria. Soludo is guilty of complicity in the crimes of Cecilia et al against depositors. As for Aganga , the entire world is now talking about how billions continue to vanish from Nigeria's coffers , under GEJ's government, with nothing tangible on ground to justify this profligacy. It is possible Aganga is a co-conspirator in some brazen scheme to crudely 419 Nigeria just like the NIPP scheme that saw OBJ, imoke, Agagu and others form a 'tag team' that fleeced Nigeria. We will no doubt gain more info when Aganga is out of office . This is why I said "Aganga , by the end of his tenure , will probably deserve to be in jail also".

Soludo has suddenly become an ardent apostle of Hind-sight Politics, " I was going to sort out the exposure the banks had" we all know hindsight policy makers are no policy makers, Soludo could not have bitten a hand that was turning out Naira note towards his way like water running from a tap. It would take a man selfless to himself and the nation to stop the rut and that mouth watering prospect of making a handsome killing.

Thank God Islamic Sanusi had a diffrent orientation to many Southern Elites who out of not knowing what to do with the excess cash stolen and embezzeled from the nation result to perverse inhibitions, " I am sure we all read how Igbenideion indulge in a sexual tryst with 3  pretty white girls in an hotel room all paid for by money stolen from selling Edo Shares" and how a woman friend Orji Kalu died in his house after excessive exhuation.

On the other hand Aganga should not have answered Soludo since the Finance Minister is the boss of the CBN Governor, he should have left that to Sanusi and Sanusi knows where it hurts when it comes to Soludo.

Secondly Aganga could not have done anything if the Cin C says he needs a certain amount of money for some special projects bearing in mind we are in an election year, and to add salt to the injury the country did not have an administration in place for 3 months between November 09 and Feb 2010,  only God knows what the Taminu's,  Turai's and the Aodooka's of these world have done with our common -wealth during the absence of a substantive President.

KnowAll:

Soludo has suddenly become an ardent apostle of Hind-sight Politics, " I was going to sort out the exposure the banks had" we all know hindsight policy makers are no policy makers, Soludo could not have bitten a hand that was turning out Naira note towards his way like water running from a tap. It would take a man selfless to himself and the nation to stop the rut and that mouth watering prospect of making a handsome killing.

Thank God Islamic Sanusi had a diffrent orientation to many Southern Elites who out of not knowing what to do with the excess cash stolen and embezzeled from the nation result to perverse inhibitions, " I am sure we all read how Igbenideion indulge in a sexual tryst with 3  pretty white girls in an hotel room all paid for by money stolen from selling Edo Shares" and how a woman friend Orji Kalu died in his house after excessive exhuation.

On the other hand Aganga should not have answered Soludo since the Finance Minister is the boss of the CBN Governor, he should have left that to Sanusi and Sanusi knows where it hurts when it comes to Soludo.

Secondly Aganga could not have done anything if the Cin C says he needs a certain amount of money for some special projects bearing in mind we are in an election year, and to add salt to the injury the country did not have an administration in place for 3 months between November 09 and Feb 2010,  only God knows what the Taminu's,  Turai's and the Aodooka's of these world have done with our common -wealth during the absence of a substantive President.

Well this is the fact that Aganga and Johnnie didnt come out in the open to expose anything or even send the EFCC after them says a lot. . .

at least sanusi put the blame firmly on someone's footstep, these two have been doling out money even on the last day of the year

Not once has the Finance minister come out to caution the government about its spending and even the 2011 budget is not different

Gbawe

Do you know who Soludo's likes are in serious Nations? Mervin King and Ben Bernanke.

Are they in Jail? NO!!!!!!!!!!!!!!!!

They are still heading their various reserve banks sorting out the problem.

You guys can victimise Soludo all you like, but he still remains a Prince of Economics.

It is not a crime to want to see your country and fatherland do well, keep faith in that dream no matter the amount of obstacles put in your way. Soludo has made 2 unsuccessful attempts into politics, those in my view are simply 2 self inflicted injury to our Nation's progress by the political class.

Here is a man who goes to sleep everyday thinking only one thing, how to make the world around him a better place. And folks are here celebrating his shortcomings and enthroning medicrity.

I sorry for Nigeria.

Serious Moral dilemmaa here  - who does one believe


Is it Soludo whose inept or complacent administration at the CBN almost bankrupted the Nigerian financial institution or Aganga a self prophesied propaganda machine for the Corrupt GEJ Adminstration primarily known for emptying the Nigerian coffers in an attempt to remain president.


I am confused  - bloody square pegs in round holes.

how to make the world around him a better place? paaaaaaaaaah

No wonder he allowed those bank thief steal and get his own cut- according to some he also had plans to clean up the mess, thereby earning a tidy amount in the process as welll probably getting 10% of any amount given by amcon


'when the market is booming they make money, when the market is depressed they make money - that's Soludo's style, he loves his own voice so much he couldnt resist coming out immediately afterwards

okonji iweala doesn't want to change the world around her? we know why Soludo is not sitting in some top spot outside- the lure of dirty money is too much and the scrutiny outside nigeria will have been too much


the FSA and not Merving King is responsible for financial regulations

The problem is that a lot of you just throw diatribes based on half baked and un-informed conclusion!!!

Sooth yourself and believe in whatever you like. Nigeria is certainly a great Nation for it.

Now that the likes of Iweala have gone back to UN who is left to run Nigeria? Thugs!!! thugs and thugs!!!!

Every country deserves the kind of leaders they get.

and a number of you just come here trying to pull the wool over our eyes all in support of your personal people then get upset if we dont gobble it up!

why didnt this fine gentleman wield the big stick knowing the full they were accumulating huge debt or passing debts to poor customers or
you think those half baked customers deserve it?

Iweala is probably doing more for Nigeria at the IMF than this 'tap Dallar economist' that got all his grades from the same uni, the same uni his dad even lectured in- that thing should be abolished people should be told to move elsewhere after studying 2 degrees in the same department of the same uni!!

McKren:

The problem is that a lot of you just throw diatribes based on half baked and un-informed conclusion!!!

Sooth yourself and believe in whatever you like. Nigeria is certainly a great Nation for it.

Now that the likes of Iweala have gone back to UN who is left to run Nigeria? Thugs!!! thugs and thugs!!!!

Every country deserves the kind of leaders they get.

Please share the contrary facts you have  - that is why it is called forum

Cheers

kenifeh:

Irrespective of the fact that i will not take sides with the Minister of Finance for his impolite use of words, I take exception to the fact that Soludo actually said Nigeria was isolated from the global financial crises. I personally responded to him in thisday, March 30, please find the link below, i encourage everyone to read this:

Source: http://allafrica.com/stories/200903300087.html

I can stake my head for Soludo anytime, anyday. But, we shouldnt attack personalities and forget issues. This is fundamental. The difference between Soludo and Sanusi is that while Soludo is an academic authority, Sanusi is an ideologue. Without ideology your knowledge come to zero.

Thanks for your strong professional commentary, but please note that Soludo has challanged anybody to show, prove, and describe that he actually said those words. He's not responsible for other people's interpretation of his words, but he never really did say that we're isolated from global financial crises.

Both men are obviously very brilliant in their own ways. This is a debate I'll love to see.

kenifeh:

Irrespective of the fact that i will not take sides with the Minister of Finance for his impolite use of words, I take exception to the fact that Soludo actually said Nigeria was isolated from the global financial crises. I personally responded to him in thisday, March 30, please find the link below, i encourage everyone to read this:

Source: http://allafrica.com/stories/200903300087.html

I can stake my head for Soludo anytime, anyday. But, we shouldnt attack personalities and forget issues. This is fundamental. The difference between Soludo and Sanusi is that while Soludo is an academic authority, Sanusi is an ideologue. Without ideology your knowledge come to zero.

While your link proves that you responded at the time to "what you think" Soludo said. It does not actually prove that Soludo said what you think he said. Provide proof of where Soludo said Nigeria was insulated from the global crisis.

Superb analysis from Charles. It will not go unnoticed that this was a direct assessment of Sanusi's abject failure in office. Sanusi lost the country 62% in Foreign Direct Investment. For that alone he should be sacked.

It is sad that they have chosen the most hallowed of turfs - our economy to wage a proxy war on Soludo and other enterprising Nigerians.

Beaf:

It is easy to spread rumours and slander people you do not know. What is your basis for saying Aganga is dishonest? It is a pretty serious claim to make. I would expect any person with the slightest modicum of decency to thoroughly back their words up, not just pluck gutter words to disparage another mans character from thin air.

By the way, what attracted your Tinubu to the drug trade and why do you not pick on his criminality? Is it that you customarily apply double standards? How can any Tinubu supporter condemn the current govt? Based on what?

mumu of mumu.s how does this relaye to tinubu in any form or way