Sagamite:

You are dumb for thinking education = intelligence.

it is a huge chunk of it. say 95% of it
you cannot say you are intelligent, but was a B student in school, when there are other A students.

if you are talking about 'wisdom", then that is different.
intelligence = IQ = high grade at school. QED.

realchange:

it is a huge chunk of it. say 95% of it
you cannot say you are intelligent, but was a B student in school, when there are other A students.

if you are talking about 'wisdom", then that is different.
intelligence = IQ = high grade at school. QED.

What utter rubbish!

So in your brain, your conclusion is that the ones that got "A"s are the most intelligent?

How old are you?

Sagamite:

My source is more reliable to me than your source is reliable to you.

A direct source is more useful than an anonymous, faceless online source.

Mine is better.

Drop in AAA rating is hindsight. I am sure you were not saying that 2 months ago when they bought the securities. Even the industry experts were not saying that.

More importantly, Euro countries are not losing the AAA ratings left and right. I dare say none has. You are just projecting the fears you hear to back up your hindsight. Things I am sure you never said 2 months ago. Such are not valid arguments.

In economics you try and assess the future, you don't predict it.

There was no schoolboy error here, it is merely an assessment that did not meet expectations. It happens the best and most intelligent worldwide.

What proportion of the funds did Lagos get?

What proportion of States in Nigeria have capital requirements that exceed recurrent budgets?

Are you saying state governments should pay local contractors in dollars?

As I earlier qualified it, he is the most intelligent of the public figures I have seen.

Obviously Lagarde is wrong as she has never met me. [Straight face]

Dude, if you're going to argue, at least do some research, there's no point in wasting my time when you don't have any facts or haven't done your homework.

No country in the Euro lost their AAA rating C'mon bro, what world are you in? Spain did, Italy did, the U.S, I believe Greece did, The French and British are most likely next,  so what are you on about? I'm far from an economist and I know this simple facts.
Spain loses AAA rating as Europe battles debt- http://www.latinamericanpost.com/index.php?option=com_content&view=article&id=5138&catid=3:latinoamerica&Itemid=38

Assessment that did not meet expectation?? Hindsight?? Sounds like you're trying to make an excuse for incompetence- which is what was. It was an error, Aganga sheepishly acknowledged it once, when they ended buying up the Chinese currency. I don't need to answer the rest of your questions, if you don't get the point- I'm sorry, go do your homework, find out and bring the facts back not questions.

We as Nigerians, need to start thinking deeper about our problems because it would require more than Forbes, The IMF,  an Oxbridge PhD, and the usual rhetoric to solve our problems. Some issues do not require a rocket scientist, others do. Sanusi is an excellent banker, very well educated (LSE), but definitely not the best Nigeria has to offer. I would argue that anyday, anytime!

I agree. Will vote him as nija presido anyday.

it takes wit for one to be voted best central bank governor in Africa; twice.

Anyone who says he isn't is definitely hating, period.

@hustla242
FYI,islamic banking has not “been shelved for now”. One of the licensed banks (JAIZ)- which was licensed by soludu as cbn gov- has already set up office here in Kaduna. And was,as at last week (14th December 2011), conducting staff recruitment interviews. It’s located on ali akilu road, near AMS computers.

As has been rightly stated by a few and ignored by many, sanusi didn’t ‘introduce’ Islamic banking. He only pointed out that the cbn is open to licensing more of such banks- and following the uproar, went on to justify it, in different fora.

hustla242:

Dude, if you're going to argue, at least do some research, there's no point in wasting my time when you don't have any facts or haven't done your homework.

No country in the Euro lost their AAA rating C'mon bro, what world are you in? Spain did, Italy did, the U.S, I believe Greece did, The French and British are most likely next,  so what are you on about? I'm far from an economist and I know this simple facts.
Spain loses AAA rating as Europe battles debt- http://www.latinamericanpost.com/index.php?option=com_content&view=article&id=5138&catid=3:latinoamerica&Itemid=38

We are talking about the last 2 months (as you said) right? I did check my facts. And this is what my source was saying: http://www.bbc.co.uk/news/business-16226543

That is not an indication of losing AAA but a suggestion of it might lose it. That is why I said "I dare say".

hustla242:

Assessment that did not meet expectation?? Hindsight?? Sounds like you're trying to make an excuse for incompetence- which is what was. It was an error, Aganga sheepishly acknowledged it once, when they ended buying up the Chinese currency. I don't need to answer the rest of your questions, if you don't get the point- I'm sorry, go do your homework, find out and bring the facts back not questions.

Incompetence?

Really?

If you know nothing about economics, you have to keep quiet.

It is perfectly acceptable to not be able to predict the future and future behaviours of people on aggregate. Only an arm chair critic will sit down and scream it is easy.

You really need to answer my questions about whether you are suggesting state government shout start operating in a foreign currency.

hustla242:

We as Nigerians, need to start thinking deeper about our problems because it would require more than Forbes, The IMF,  an Oxbridge PhD, and the usual rhetoric to solve our problems. Some issues do not require a rocket scientist, others do. Sanusi is an excellent banker, very well educated (LSE), but definitely not the best Nigeria has to offer. I would argue that anyday, anytime!

As a matter of fact, Sanusi never attended LSE.

I don't think with your exposure that you are far from economics you are in a position to even be criticing his policies.

Sanusi, the most intelligent man in Nigeria? Thats untrue! Under his leadership he ordered banks to remove all of their off site ATM's, few months later he's instructing the same banks to plant their ATM's back all over the place all in the name of transforming Nigeria into a cashless society. No foresight at all. Didn't he's brain think about that from the onset? Dats the same guy IMF is crowning the most intelligent guy in Nigeria. I see IMF is as clueless as our government. Rubbish!!

Sagamite:

We are talking about the last 2 months (as you said) right? I did check my facts. And this is what my source was saying: http://www.bbc.co.uk/news/business-16226543

That is not an indication of losing AAA but a suggestion of it might lose it. That is why I said "I dare say".

Incompetence?

Really?

If you know nothing about economics, you have to keep quiet.

It is perfectly acceptable to not be able to predict the future and future behaviours of people on aggregate. Only an arm chair critic will sit down and scream it is easy.

You really need to answer my questions about whether you are suggesting state government shout start operating in a foreign currency.

As a matter of fact, Sanusi never attended LSE.

I don't think with your exposure that you are far from economics you are in a position to even be criticing his policies.

Me being far from a career as an economist does not mean I don't understand the basic fundamentals of pricing, demand, and supply. I don't care where SLS went and I never mentioned disbursing foreign currency, that's illegal. If you take a deep breath and read carefully, I said dollar certificates, which we did in the past and kept the Naira and other economic indexes fairly stable. The CBN has absolutely no need to monopolize the dollar at the expense of inflation.

If you're saying that it's perfectly fine to invest, knowing that your money is going to lose value in the next 5 years, when you have better options in the short-mid- and long term, then I pity those who'll trust you with their hard-earned cash.

Spain did lose their S&P credit rating, OK forget about Spain, Greece's credit rating was downgraded to "Junk" status- and we still open our eyes and invest in their national currency- You call that Intelligence?? Surely you know better than that as an "economist".

hustla242:

Me being far from a career as an economist does not mean I don't understand the basic fundamentals of pricing, demand, and supply. I don't care where SLS went and I never mentioned disbursing foreign currency, that's illegal. If you take a deep breath and read carefully, I said dollar certificates, which we did in the past and kept the Naira and other economic indexes fairly stable. The CBN has absolutely no need to monopolize the dollar at the expense of inflation.

Amsorry. So you are saying State governments to pay recurring expenditures with dollar certicates?

Really?

hustla242:

If you're saying that it's perfectly fine to invest, knowing that your money is going to lose value in the next 5 years, when you have better options in the short-mid- and long term, then I pity those who'll trust you with their hard-earned cash.

Spain did lose their S&P credit rating, OK forget about Spain, Greece's credit rating was downgraded to "Junk" status- and we still open our eyes and invest in their national currency- You call that Intelligence?? Surely you know better than that as an "economist".

I hope you realise there are circumstances in economics where you would want your currency to lose value?

Do you realise in capital markets what happened 5 minutes ago is virtually irrelevant? You are still stuck in this mental rot of "if it is going down, then it is bad".

In efficient markets, the market corrects itself almost instantly. It is almost consistently a blank plate. So what happened to Greece or Spain is unimportant, what is important is the assessment of current factors. Things that go down can as well go up!

Onlytruth

His economic scoping/envisioning for Nigeria is somewhat stunted.  
Given the amount of money we have been making from oil, he set us back (or stopped our forward march) by many years.

@ ^^ He is only the head of the Central Bank and not a "policy" driver like the politicians/LuckyJoe @ Abuja. His job is to administer/monitor the banking system and nothing more than that. Perhaps, we are expecting too much from him as if he's the President or even a Governor of a State in Nigeria. His powers are somewhat limited let alone drive Naija economy single handedly .

Madam Largarde's statement was unfortunate and rather very patronising . SLS does not need her/IMF approval.

You can go through the thread below for a comprehensive breakdown of the Man Sanusi Lamido Sanusi - Education, Background, Policies, etc

https://www.nairaland.com/nigeria/topic-710377.0.html

Sagamite:

Amsorry. So you are saying State governments to pay recurring expenditures with dollar certicates?

Really?

I hope you realise there are circumstances in economics where you would want your currency to lose value?

Do you realise in capital markets what happened 5 minutes ago is virtually irrelevant? You are still stuck in this mental rot of "if it is going down, then it is bad".

In efficient markets, the market corrects itself almost instantly. It is almost consistently a blank plate. So what happened to Greece or Spain is unimportant, what is important is the assessment of current factors. Things that go down can as well go up!

You are "intelligent", try to read, digest, and then put forward a reasonable argument. I think you're missing the reading bit and I'm having to remind you of quite a lot. I said use dollar certificates to fund capital project where multinationals are involved,  the most intensive capital projects are run by multinational companies due to access to fund and technologies unavailable locally. This would free the CBN of printing the Naira and having to tighten the monetary policy in an already choked-up economy.

I think you're also confusing two things, investing in currencies via the capital markets can be either through debt or securities. SLS and his team bought Eurobonds (debt) not stocks(securities), whose value depend on interest rates in the Euro zone which is almost nil. The DMO already pays interest on this money and you wonder why people are suffering??
Our leaders are using our taxes to gamble and we sit here and sing the high praises to them heaven?? Erhh,  No.

He's intelligent, but he can be better. That should be the attitude of every Nigerian.

hustla242:

The man is not even intelligent.
He is more like someone applying hammer and nail where tact, finesse and sophistry are required.

I think you meant tact, finesse, and sophistication.

Sophistry is to be avoided.

hustla242:

You are "intelligent", try to read, digest, and then put forward a reasonable argument. I think you're missing the reading bit and I'm having to remind you of quite a lot. I said use dollar certificates to fund capital project where multinationals are involved,  the most intensive capital projects are run by multinational companies due to access to fund and technologies unavailable locally. This would free the CBN of printing the Naira and having to tighten the monetary policy in an already choked-up economy.

I would expect you to be "intelligent" enough to realise I asked you to try and figure out where most money of state governments go: Recurring expenditure and local engagements.

Not multinationals.

Are you saying this majority should be satisfied with dollar certificates?

hustla242:

I think you're also confusing two things, investing in currencies via the capital markets can be either through debt or securities. SLS and his team bought Eurobonds (debt) not stocks(securities), whose value depend on interest rates in the Euro zone which is almost nil. The DMO already pays interest on this money and you wonder why people are suffering??
Our leaders are using our taxes to gamble and we sit here and sing the high praises to them heaven?? Erhh,  No.

He's intelligent, but he can be better. That should be the attitude of every Nigerian.

FYI, bonds are securities.

Securities can be stocks, bonds or derivatives.

FYI, the interest rates in Euro zone is not almost nil. It is 1 point something.

FYI, the lower interest rates, the lower the inherent risks.

Intelligent in the whole country? I laugh in Swahili.

Perhaps, he's intelligent, but in the wrong field because he has no clue on how economic and the economy works and certain times I think he needs HELP.

cheikh:

Onlytruth

@ ^^ He is only the head of the Central Bank and not a "policy" driver like the politicians/LuckyJoe @ Abuja. His job is to administer/monitor the banking system and nothing more than that. Perhaps, we are expecting too much from him as if he's the President or even a Governor of a State in Nigeria. His powers are somewhat limited let alone drive Naija economy single handedly .

Madam Largarde's statement was unfortunate and rather very patronising . SLS does not need her/IMF approval.

Hmm, brother, administer/monitor the banking system is NOT the only job of the CBN , in fact that's one of the cores of responsibility of the CBN or federal reserve system.

Sagamite:

I would expect you to be "intelligent" enough to realise I asked you to try and figure out where most money of state governments go: Recurring expenditure and local engagements.

Not multinationals.

Are you saying this majority should be satisfied with dollar certificates?

FYI, bonds are securities.

Securities can be stocks, bonds or derivatives.

FYI, the interest rates in Euro zone is not almost nil. It is 1 point something.

FYI, the lower interest rates, the lower the inherent risks.

What interest rate are you referring to? What risk are you also referring to? The interest rate in the Eurozone of 1% does not reflect the risk to investors.

Sanusi is intelligent, but the most intelligent man in the country, as in any country, is more likely to be some obscure professor tucked away somewhere (probably in the natural sciences) and not in government. She knew that she was exaggerating when she made that statement, but it can be interpreted as being not just exaggeration, but also condescension. And if you don't know a place, why make statements about who is the most outstanding person in that country in a certain aspect?

I honestly think Sanusi is something of a dilettante, actually, and that this may explain his publications in areas that have nothing to do with his chosen career and his dearth of publications relating to economics.

An aspiring or amateur political philosopher might want to read Marx's Eighteenth Brumaire, but I see no reason why a competent modern economist or banker should even care what that is, let alone read it. Not that people can't have a wide range of interests, but I think this supposed higher intelligence is mostly show, eloquence, etc. and not really substantive.

Also, there's certainly nothing in his publication history or scholarly background to suggest he's any more intelligent than or even as intelligent as any of the top Nigerian economics professors from any of the better Nigerian universities (UI, UNN, Uniben, OAU, etc.).






On a completely unrelated note, that woman (Christine Lagarde) looks a bit like the Mad Hatter.

Sagamite:

I would expect you to be "intelligent" enough to realise I asked you to try and figure out where most money of state governments go: Recurring expenditure and local engagements.

Not multinationals.

Are you saying this majority should be satisfied with dollar certificates?

FYI, bonds are securities.

Securities can be stocks, bonds or derivatives.

FYI, the interest rates in Euro zone is not almost nil. It is 1 point something.

FYI, the lower interest rates, the lower the inherent risks.

I'm obviously not asking them to disburse all the allocation in dollar certificates, that's impossible- it's common sense. State governments spend a good chunk of their allocation on capital project with foreign partners. I gave you a case in point- Lagos state where the capital expenditure actually exceeds the recurrent. It would make a massive difference to SLS's monetary framework, so since you have insiders in the CBN why don't you pass on the message- don't worry I'll take no credit.

I'm sorry the Eurozone's interest rate is sssooo much more than nil,  its 1%- my apologies fella. Lower interest rates= lower inherent risks- WHAT??
I'm finished with you because this confirms that you have no clue what you're talking- I thought as much, but I gave you the benefit of the doubt.

We offered returns of 7% on the Euro bonds, it was oversubscribed obviously everyone knows there's money to pay up in Nigeria. Bonds and interest rate have an inverse relationship, low interest rates in the Euro actually devalue those bonds and vice versa. With these bonds, you actually want the interest rates in the Eurozone to go up because that means there's too much money in their system and they're tightening.  To give you a clue that it was way overpriced or unnecessary IMO- South Africa's was pegged at about 5%- a much more robust economy.

It's hard work trying to explain all this to an "intelligent" economist I tell you, I would go deeper but for much more people reading this thread. But trust unless we try to dissect the logic behind all these moves and think outside the box, we will all continue to live in perpetual darkness- literally!!

PhysicsQED:

Sanusi is intelligent, but the most intelligent man in the country, as in any country, is more likely to be some obscure professor tucked away somewhere (probably in the natural sciences) and not in government. She knew that she was exaggerating when she made that statement, but it can be interpreted as being not just exaggeration, but also condescension. And if you don't know a place, why make statements about who is the most outstanding person in that country with regard to a certain aspect?

I honestly think Sanusi is something of a dilettante, actually, and that this may explain his publications in areas that have nothing to do with his chosen career and his dearth of publications relating to economics.

An aspiring or amateur political philosopher might want to read Marx's Eighteenth Brumaire, but I see no reason why a competent modern economist or banker should even care what that is, let alone read it. Not that people can't have a wide range of interests, but I think this supposed higher intelligence is mostly show, eloquence, etc. and not really substantive.

Also, there's certainly nothing in his publication history or scholarly background to suggest he's any more intelligent or even as intelligent as any of the top Nigerian economics professors from any of the better Nigerian universities (UI, UNN, Uniben, OAU, etc.).



On a completely unrelated note, that woman (Christine Lagarde) looks a bit like the Mad Hatter.

Thank you a whole lot! You basically covered it all. Some Nigerians are plain dumb.

hustla242:

I'm obviously not asking them to disburse all the allocation in dollar certificates, that's impossible- it's common sense. State governments spend a good chunk of their allocation on capital project with foreign partners. I gave you a case in point- Lagos state where the capital expenditure actually exceeds the recurrent. It would make a massive difference to SLS's monetary framework, so since you have insiders in the CBN why don't you pass on the message- don't worry I'll take no credit.

I'm sorry the Eurozone's interest rate is sssooo much more than nil,  its 1%- my apologies fella. Lower interest rates= lower inherent risks- WHAT??
I'm finished with you because this confirms that you have no clue what you're talking- I thought as much, but I gave you the benefit of the doubt.

We offered returns of 7% on the Euro bonds, it was oversubscribed obviously everyone knows there's money to pay up in Nigeria. Bonds and interest rate have an inverse relationship, low interest rates in the Euro actually devalue those bonds and vice versa. With these bonds, you actually want the interest rates in the Eurozone to go up because that means there's too much money in their system and they're tightening.  To give you a clue that it was way overpriced or unnecessary IMO- South Africa's was pegged at about 5%- a much more robust economy.

It's hard work trying to explain all this to an "intelligent" economist I tell you, I would go deeper but for much more people reading this thread. But trust unless we try to dissect the logic behind all these moves and think outside the box, we will all continue to live in perpetual darkness- literally!!

With Sovereign securities, lower interest rates (coupon) means investors perception of a lower risk. That is, they are confident that coupon and principal will be paid as and when due. Investors will only demand higher rates when there is high propensity to default. That is the reason for the "Lower Rates (coupon)= Lower Risk.

It is true that interest rates have an inverse relationship with the value of bonds; however, low interest rates can not at the same time devalue a bond. I hope you are not confusing the impact of interest rate and coupon on bonds price.

Katsumoto:

What interest rate are you referring to? What risk are you also referring to? The interest rate in the Eurozone of 1% does not reflect the risk to investors.

The interest the Euro Central Bank pays on its bonds.

That should reflect the risk of the Eurozone failing and being unable to pay the periodic interest and the final principal of the bond. They also reflect monetary policy.

PhysicsQED:

Sanusi is intelligent, but the most intelligent man in the country, as in any country, is more likely to be some obscure professor tucked away somewhere (probably in the natural sciences) and not in government. She knew that she was exaggerating when she made that statement, but it can be interpreted as being not just exaggeration, but also condescension. And if you don't know a place, why make statements about who is the most outstanding person in that country in a certain aspect?

I honestly think Sanusi is something of a dilettante, actually, and that this may explain his publications in areas that have nothing to do with his chosen career and his dearth of publications relating to economics.

An aspiring or amateur political philosopher might want to read Marx's Eighteenth Brumaire, but I see no reason why a competent modern economist or banker should even care what that is, let alone read it. Not that people can't have a wide range of interests, but I think this supposed higher intelligence is mostly show, eloquence, etc. and not really substantive.

Also, there's certainly nothing in his publication history or scholarly background to suggest he's any more intelligent than or even as intelligent as any of the top Nigerian economics professors from any of the better Nigerian universities (UI, UNN, Uniben, OAU, etc.).

On a completely unrelated note, that woman (Christine Lagarde) looks a bit like the Mad Hatter.

Again, I will say it.

Educational attainment is not equal to superior intelligence. Being a professor is not a sign one is more intelligent.

hustla242:

I'm obviously not asking them to disburse all the allocation in dollar certificates, that's impossible- it's common sense. State governments spend a good chunk of their allocation on capital project with foreign partners. I gave you a case in point- Lagos state where the capital expenditure actually exceeds the recurrent. It would make a massive difference to SLS's monetary framework, so since you have insiders in the CBN why don't you pass on the message- don't worry I'll take no credit.

I asked you earlier?

What proportion of the funds did Lagos get?

What proportion of States in Nigeria have capital requirements that exceed recurrent budgets?

You can't use a lame excuse of one state's exception to justify he made a "schoolboy error" in converting dollars to Naira when Naira is what was mainly needed.

hustla242:

I'm sorry the Eurozone's interest rate is sssooo much more than nil,  its 1%- my apologies fella. Lower interest rates= lower inherent risks- WHAT??
I'm finished with you because this confirms that you have no clue what you're talking- I thought as much, but I gave you the benefit of the doubt.

Why don't you give me a brief lecture on how interests rates are set on bonds then?

I am happy to learn if you know a different way. Maybe my understanding of interests rates on security as  something linked to risks is utter tosh. It will me interesting to learn the new paradigm you are proposing from "out of the box".

hustla242:

We offered returns of 7% on the Euro bonds, it was oversubscribed obviously everyone knows there's money to pay up in Nigeria. Bonds and interest rate have an inverse relationship, low interest rates in the Euro actually devalue those bonds and vice versa. With these bonds, you actually want the interest rates in the Eurozone to go up because that means there's too much money in their system and they're tightening.  To give you a clue that it was way overpriced or unnecessary IMO- South Africa's was pegged at about 5%- a much more robust economy.

No 1, wtf are you talking about when you say "We offered returns of 7% on the Euro bonds".

No 2, So what if low interest rates devalue bonds? It devalues it for you to BUY it CHEAP. If it is low, you pay low and hope the interest rate go up. What is your argument?

hustla242:

It's hard work trying to explain all this to an "intelligent" economist I tell you, I would go deeper but for much more people reading this thread. But trust unless we try to dissect the logic behind all these moves and think outside the box, we will all continue to live in perpetual darkness- literally!!

Please go deeper and explain "out of the box" understanding of the link between interest rates and risk. I would love to know if box is a synonym for mind.

Explain to me ("out of the box" that is) what proportion of state expenditure is to "multinationals" and why they should pay in dollar certificates.

With the economy currently in shambles, that must be an insult to Nigerians.

The guy is just too controversial, he goes about making loud and divisive speeches. the Cbn is supposed to be a conservative institution. His counterpart in d U.S,Paul Bernanke held a press conference sometime dis yr(d 1st time in U.S history d federal reserve chairman has done that). Pls dnt castigate me for d comparisons. Just trying to drive home my point dat he's 'overexposed'.

yes. he is the most intelligent in Africa

Sanusi may not be the most intelligent Nigerian, but he beats most of our leaders hands down when it comes to plain common sense. Here is what he said to the BBC recently: "You cannot be exporting crude oil and be importing refined petrol." link http://www.bbc.co.uk/news/world-africa-15935116

Now can anyone tell me about any other Nigerian leader who has said the same thing or tried to put an end to this economic insanity. Just one.

WaltherPPK:

With the economy currently in shambles, that must be an insult to Nigerians.

God bless you.

The most intelligent man in the country? This is so condescending, can you imagine them making the same statement to France or USA? Thunder fire dem!

Do you know how many coups and wars they have started?  Do you know how many  people have died through corruption aided and abetted by the IMF? The IMF is an institution that has never and will never mean well for Africa. Those of you who know your history will remember that the IMF indebted generations  by giving loans to unelected, unaccountable and puppet dictatorships.

Nigeria does not need any more 'intelligent' or verile academicians who are impotent in the real world or who slavishly follow flawed economics because the textbooks says so.

Nigeria needs  'No retreat, no surrender' patriots who will put our interests first. You don't need to go to school to have honour or courage.

Finally, before you start giving IMF or World Bank any sort of Kudos, please answer this simple question. What is their record of achievement in Nigeria or Africa?

SapeleGuy:

Do you know how many coups and wars they have started?  Do you know how many  people have died through corruption aided and abetted by the IMF? The IMF is an institution that has never and will never mean well for Africa. Those of you who know your history will remember that the IMF indebted generations  by giving loans to unelected, unaccountable and puppet dictatorships.

This are very crass statements.

If you want an explanation why, feel free to request.

SapeleGuy:

God bless you.

The most intelligent man in the country? This is so condescending, can you imagine them making the same statement to France or USA? Thunder fire dem!

Do you know how many coups and wars they have started?  Do you know how many  people have died through corruption aided and abetted by the IMF? The IMF is an institution that has never and will never mean well for Africa. Those of you who know your history will remember that the IMF indebted generations  by giving loans to unelected, unaccountable and puppet dictatorships.

Nigeria does not need any more 'intelligent' or verile academicians who are impotent in the real world or who slavishly follow flawed economics because the textbooks says so.

Nigeria needs  'No retreat, no surrender' patriots who will put our interests first. You don't need to go to school to have honour or courage.

Finally, before you start giving IMF or World Bank any sort of Kudos, please answer this simple question. What is their record of achievement in Nigeria or Africa?

Sanusi is not really pro-IMF or pro-World bank, from what I read. In fact he was and is very critical of the structural adjustment program.

Sagamite:

This are very crass statements.

If you want an explanation why, feel free to request.

Dear Sagamite,

Because the IMF/World Banks record in Africa is an ode to failure, I can afford to be crass perhaps not as crass as the purile person who said Sanusi is the most intelligent man in Nigeria.

I know you are an excellent researcher, so I am hopeful that you will be able to come up with the Tangible achievements of IMF in Africa - Good luck in your quest

Best regards
Sapeleguy

I believe any body that watch the NPAN town hall meeting on the fuel subsidy removal will appreciate SLS, the man is brain. thumb up

SapeleGuy:

Dear Sagamite,

Because the IMF/World Banks record in Africa is an ode to failure, I can afford to be crass perhaps not as crass as the purile person who said Sanusi is the most intelligent man in Nigeria.

I know you are an excellent researcher, so I am hopeful that you will be able to come up with the Tangible achievements of IMF in Africa - Good luck in your quest

Best regards
Sapeleguy

Even if you think IMF have made an "error" before, I would expect you to have done an evaluation of intent and evolution of philosophy.

Is your assessment of "their error" that of wilful intent or local-application ignorance?

Even if your assessment of "their error" in certain past years was the former above, why do you think it will be the same in the future? It is the same people in the IMF in 1980 that are there now and will be there in 2020 and 2050?

Your statements are similar to those I look down on when someone tells me "USA is evil and against the black man because of what happened in the 70s. So that is what they are doing now and I don't trust them. They will never change". I look at the person and wonder how some can say what Nixon did in the 70s is a determinant of what Obama will do today. The person might well tell me that what Lincoln did in 1865 is what Obama would do in 2012.

This whole whiteman is out to destroy us should be above you. You should leave such to cap28 and his psychotic disorder.

Look at your statement I labelled crass again.