enyojo:

YOU ARE WRONG THERE. WHAT IS ILLIQUID AGAIN?
IF AN ASSET IS NOT LIQUID, IT IS SOLID!
simple commonsense proves that a solid asset is better and more reliable than a liquid asset.

violent:

If you don't know what illiquid means, why should you even argue about it?

we are not talking english terms here darling, we are talking financial terms, you should have probably shut up so people don't have to put a ridiculously low value on your IQ!

violent:

If you don't know what illiquid means, why should you even argue about it?

we are not talking english terms here darling, we are talking financial terms, you should have probably shut up so people don't have to put a ridiculously low value on your IQ!

namdo:

this cannot be true, sanusi should know this is wrong of him. Who approved the project? is GEJ aware? if this is true then some crazy guys are incharge over there. may God help us as a nation.

blink182:

mEN, enyojo killed it, chei

violent:

i tell you men, i just burst into laff as i read hin post, the babe wan tear my belle

enyojo:

 WHAT IS ILLIQUID AGAIN?

Statement of CBN Core Mandate
The mandate of the Central Bank of Nigeria (CBN) is derived from the 1958 Act of Parliament, as amended in 1991, 1993,1997,1998,1999 and 2007.

The CBN Act of 2007 of the Federal Republic of Nigeria charges the Bank with the overall control and administration of the monetary and financial sector policies of the Federal Government.

The objects of the CBN are as follows:

1. ensure monetary and price stability;
2. Issue legal tender currency in Nigeria;
3. maintain external reserves to safeguard the international value of the legal tender currency;
4. promote a sound financial system in Nigeria; and
   act as Banker and provide economic and financial advice to the Federal Government.
Consequently, the Bank is charged with the responsibility of administering the Banks and Other Financial Institutions (BOFI) Act (1991) as amended, with the sole aim of ensuring high standards of banking practice and financial stability through its surveillance activities, as well as the promotion of an efficient payment system.

In addition to its core functions, CBN has over the years performed some major developmental functions, focussed on all the key sectors of the Nigerian economy (financial, agricultural and industrial sectors). Overall, these mandates are carried out by the Bank through its various departments.

Whatever the CBN does to ensure stability of the Naira and the Economy at large is in accordance with their statutory mandate even if it means building the tallest building on earth of building a world-class hospitality structure in abuja. ILLIQUID OR ISOLID.

enyojo:

I assume you were not using any seeing aid. If not you would have seen this question in my earlier post:

But instead of answering like a Financial Guru you want us to believe you are, you resorted into unwarranted attack.

chamber2:


Pls, stop all this nonsense

hercules07:

See the Sanusi haters coming out of the woodwork.

enyojo:

YOU ARE WRONG THERE. WHAT IS ILLIQUID AGAIN?
IF AN ASSET IS NOT LIQUID, IT IS SOLID!
simple commonsense proves that a solid asset is better and more reliable than a liquid asset.

blink182:

The state of a security or other asset that cannot easily be sold or exchanged for cash without a substantial loss in value. Illiquid assets also cannot be sold quickly because of a lack of ready and willing investors or speculators to purchase the asset. The lack of ready buyers also leads to larger discrepancies between the asking price (from the seller) and the bidding price (from a buyer) than would be found in an orderly market with daily trading activity.    A liquid asset is an asset that can be converted into cash quickly and with minimal impact to the price received. Liquid assets are generally regarded in the same light as cash because their prices are relatively stable when they are sold on the open market.


Some examples of inherently illiquid assets include houses, cars, antiques, private company interests and some types of debt instruments. On the other end of the spectrum, most listed securities traded at major exchanges, such as stocks, funds, bonds and commodities are very liquid, and can be sold instantaneously during regular market hours at fair market price.  

Illiquid securities carry higher risks than liquid ones; this becomes especially true during times of market turmoil when the ratio of buyers to sellers may be thrown out of balance. During these times, holders of illiquid securities may find themselves unable to unload them at all, or unable to do so without losing a lot of money.

For an asset to be liquid it needs an established market with enough participants to absorb the selling without materially impacting the price of the asset. There also needs to be a relative ease in the transfer of ownership and the movement of the asset. Liquid assets include most stocks, money market instruments and government bonds. The foreign exchange market is deemed to be the most liquid market in the world because trillions of dollars exchange hands each day, making it impossible for any one individual to influence the exchange rate.

All the same, the karnel of the issue is that it is the mad craze for LIQUID profits that has left our Stock market and even the financial sector as a whole in the trenches.
Can u imagine a man I know of who hurriedly sold a house in Asokoro for tiny sums in the rush to invest in the stocks for quick profits?
Then, the Sweet-mouthed Stockbrokers were buying stocks and selling them in days and weeks using speculative strategies.
See where we have found ourselves now

Coming under CBN’s 2011 capital projects

texazzpete:

Also, this quote exists in the Guardian link

So my question is, what exactly is 'CBN's capital projects'? Are 'Capital projects' something new under Sanusi and what is the scope of the 'capital projects'? What other capital projects are there in the 2011 portfolio?

These are the questions that need to be asked. I'd appreciate answers.

paddy_lo:

CBN capital projects are not new and could mean anything from upgrading servers and computer/IT backbone to Renovating its CBN buildings in the 36 state capitals. .

However the Central Bank going directly into building hotels to achieve the misguided idea of stimulating real estate is madness of the highest order

If anything the Finance Ministry should be the one stimulating real estate, through the use of incentives and tax breaks to banks and property buyers and developers. . not the CBN

texazzpete:

So you agree that this then is not out of the ordinary if it can fall under the 'Capital projects' portfolio?

Also, without seeing the economics of the project how can you unequivocally condemn this as 'madness'?