₦airaland Forum

Bevista:
You lack decorum, but I'll respond to you for the sake of others reading.
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I did not talk about allowing the Naira to float freely, but finding a Fair exchange value. CBN has been adjusting the value of the Naira for ages depending on prevailing economic realities,so why the grandstanding now? When oil price started falling last year, did they not allow the Naira to depreciate from N155 - N197 in Nov 2014?
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Abacha tried to artificially hold the value of the Naira in the 90s, students of economic history know how that all turned out.

Bros sorry o, its not like am ill mannered, its just that I have no room for bullshit (despite living in a mansion)
its is like someone is impersonating your moniker, cause I was only replying to this post.

Bevista:
The CBN should allow demand and supply to determine a fair price for the dollar. A price where supply can clear all demand; they do not need to deplete the Foreign Reserves to defend the naira. That is Economics 101.

What is the difference between floating and allowing forces of demand and supply determine price? and at what price does demand equal supply?

Be nice and educate us please

Bevista:
So, In your opinion, the better option is to create scarcity and pretend that there is no demand?
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As painful as it may seem, if my business depends on FX transactions, I'd rather buy at that high rate than not get it at all. When importers exhaust their existing stock and cannot access dollars to import, there will be complete price dislocation in the system due to scarcity.
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The CBN can protect our Reserves (which I believe they should). But why not allow those that can buy dollars in the parallel market to make legitimate transfers and payments. That way, it's not Reserves that are used to settle those int'l payments.

The work of the CBN is to defend the Naira, even at your expense! The country/economy is prioritized ahead of individuals. Policies always create winners and losers, Pareto efficiency exist only in academic literature's. A policy is adjured good or bad by the percent of people that will be made better off or worse off in the long run.
The desire for imported goods and services in Nigeria is alarming, in fact at this rate it is a threat to national security. We have to develop our industry and services sector at all cost. The past administration threw away the golden opportunity to kick off an industrial revolution having sold a barrel of oil for over $100 for a long while. This administration has no choice but to buckle up for a very rough ride Though the turn out of things is not their making, but since government is a continuum (Oyibo) they have to find a way to weather this storm.
Pain is inevitable for growth and development ''maybe its our turn to develop'' in GEJ's word when asked about terrorism in Nigeria.

Bevista:
The CBN should allow demand and supply to determine a fair price for the dollar. A price where supply can clear all demand; they do not need to deplete the Foreign Reserves to defend the naira. That is Economics 101.

The problem is that if they allow the exchange rate to adjust downwards, there will be serious backlash on the new administration. So they are allowing political considerations to influence their monetary policy actions.

You are a Voodoo Economist! No too vex. No person in their right senses, who has a basic knowledge of economics would advise for the Naira to be allowed to float in this present state of our economy. If you argue for devaluing of the Naira against the dollar then your argument is tenable. What are you guys talking about sef? Everybody on Nairaland claiming egghead yet they cant even make a difference in their daily life decisions.

LordAdam:
And you are celebrating an slowpoke that spent billions to construct a flying mono rail. And did not know that trains operated in Nigeria until after he had been made minister of transport.

Shift go one side. I can see you have contracted PMB's body odor. Smelly sepulchre!

-Lord

Fool, you are all thieves, PDP, APC and you! The difference between you and them is that they give you peanuts and loot your generational wealth!
Lord of FLIES!

LordAdam:
Your foolishness knows no bound. If you say Dasukigate should remove all doubts, then the lie propagated by PMB that he doesn't know what subsidy means while campaigning only to pay subsidy after becoming president should mean that he is a dishonest dullard who reason with his an.us.

You on the other hand are worthless. Look at the thrash you called a reply. You can't even comprehend an article. Otondo!

-Lord

Lord of fools! Keep receiving yourself on Nairaland.
You, your pay masters and every person who says Nigeria will not move forward will not progress too. Where is Alams today? Shey he died of a curable ailment at PH teaching hospital after siphoning money that could build hundred state of the art hospitals.
Over to Lord of imbeciles! Nairaland no go kill person!

LordAdam:
Show me where I said categorically that Premium Times is an APC paper in my reply? Na Sango go specially create the thunder wen go fire you.

I said "the intent was wrong". And I also said the "writeup was okay". The controversy may have been injected to spark interest rather than for political reasons. Next time, comprehend before replying.

-Lord

You and your likes should shove your lame explanations up your arse! GEJ antecedents shows that he is an unintelligent, low life, incompetent and corrupt bastard! How do you even begin to tell people that a man who siphoned money meant for Arms procurement is innocent of this ordinary rice scam? even when it is obvious that the beneficiaries of this bazaar are his political accolades? People should learn to shut their trap when they have nothing meaningful to say. You guys are shameless and unintelligent!
Businessmen take advantage of government policies in every clime but this was no taking advantage of the situation, this was outright fraud! And they always succeed in Nigeria because people that are supposed to be leading us purposely refuse to do there due diligence, and use their friends to divert communal resource,yet rats like you come up here to defend them. Look at the coys on the write up, all of them where affiliated to the past thief's.

Dasukigate should remove all doubts on what GEJ and his many thieves did!

Daplux4:
The hypocrites came with lies and everything they say are all lies

You and your likes should shove your lame explanations up your arse! GEJ antecedents shows that he is an unintelligent, low life, incompetent and corrupt bastard! How do you even begin to tell people that a man who siphoned money meant for Arms procurement is innocent of this ordinary rice scam? even when it is obvious that the beneficiaries of this bazaar are his political accolades? People should learn to shut their trap when they have nothing meaningful to say. You guys are shameless and unintelligent!
Businessmen take advantage of government policies in every clime but this was no taking advantage of the situation, this was outright fraud! And they always succeed in Nigeria because people that are supposed to be leading us purposely refuse to do there due diligence, and let there friends divert community resource yet some rat come up here to defend them. Look at the coys on the write up, all of them where affiliated to the past thief's.

Dasukigate should remove all doubts on what GEJ and his many thieves can do!

Harwoyeez:
CBN canceling dutch auction anytime from now which I said but u laughed at, pls read n lemme know ur what u have to say www.vanguardngr.com/2015/12/panicky-policy-measures-intensify-on-foreign-exchange-market/

Good morning bros, I still do not see your point. Why dont the CBN cancel the auction system immediately having realized that it is the problem?
These are the salient issues from that article.


Meanwhile, the Managing Director/Chief Executive Officer has this to say
“First it is a supply issue, and second, it is a function of the productive capacity of the country''

Since the introduction of Whole Sale Dutch Auction System (WDAS) on February 20, 2006, the liberalized Foreign Exchange Market witnessed unprecedented stability most of which include the following:

Unification of exchange rates between the Official and Inter-bank Markets and resolution of the multiple currency problems.
Facilitation of greater market determination of exchange rates for the Naira vis-�-vis other currencies
http://www.cenbank.org/IntOps

fadhill:
to give skin to your argument, this so called Banks have no genuine records of those that bought the dollar. This are what has been killing Naira could with some great missteps of pass government under economic voodooist as NO I.

I doubt that this is true!
Have you bought FX from the CBN in the last 12months?
I bought FX about 3months ago from CBN and had to submit all my details and many other back up documents to convince them. Infact they did not give me the FX, they transferred it to the institution that I told them needed the fund, and it took about 10days. So I can not reconcile your claim.

Harwoyeez:
d solution to it in some ways is that those who genuinely need forex wil get them and all others must go tru an import substitution development plan thereby freeing forex for those who need them. Also anoda is radical developmental project must be undertaken by govt in order to ease d pressure on forex demand

The Retail Dutch Auction System window operations, is based solely on actual demand of FOREX by the end users. it is an arrangement that allows the authorized dealers to request for only FOREX based on the actual application received from its end users. So you see the Dutch Auction System is probably not the problem.
And, how would consumers survive before the import substitution plan, industries kick-off? parley there will be chaos. e have to do the first things first. Government has to invest in industries before they implement any import-substitution measures.

MAURI:
The reason there are different rates is due to arbitrage. That word is missing in your submittion.

There is arbitrage because the Naira is overvalued and all sort of parties take advantage of the gaps created by this situation.

Should the banks start buying USD tomorrow at 270 the BDC / Black markets will cease / have serious challenges surviving.

Serious bro. I do not see the selling of Forex by banks solving this problem. The problem is the insatiable demand for Forex/import, the CBNs effort needs to be complemented by the Fiscal policy only then can pressure ease on the Naira.

Harwoyeez:
I never said BDC is a black market from what I wrote

Ok bro, that was to buttress my point that whenever you ration like this another market is created for people who want more. So you will definitely find this double price in other import dependent countries who ration foreign exchange. cheers!

Harwoyeez:
it creates unnecessary pressure by having d official and non official rate. There shd only be one rate. Imagine we have cbn rate, bank rate, bdc's rate and street trading rate which are not d same just for a currency, isn't that gonna create pressure?

What would you have CBN do? Because the CBN has a limited amount of Forex to sell at the official rate and a lot of items have been excluded from their list (They do not sell Forex to some certain sectors like telecom equip importers, generator importers e.t.c) What happens to the excess demand for Forex? how would you suggest they manage it?

Harwoyeez:
U didn't get my point. Cancellation of dutch auction will limit forex trade to BDC and bank only so there's no more street trading of forex. In all d countries u have visited are there 2 diff rates for forex like we have in Nigeria?

Lol...It depends on which countries you visited, rationing always gives room for black market. And BDC's are not Black market! Take note please.

Harwoyeez:
good submission, but I believe d total cancellation of dutch auction will ease d pressure n all transactions will have to go official

Do you understand the aim of the Dutch auction system? and why do you think it is the problem?

MAURI:
Let's have another thread for this.

Look, we have to start thinking in solutions and not in problem. Are you aware of hom much Nigerians spend on the importation of generators and diesel to power them annually?

I am sure you must have heard / read about the multi billion oil subsidy fraud? Why are finished oil products being subsidized by the Nigerian government? I have explained this in another thread. I am willing to do it again, so you have a complete picture.

Why isn't the government chanelling all these monies into making sure we have operational refineries in Nigeria? It will cost less that all the subsidies put together. For your info.

I will demonstrate the link between lack of operational refineries and it's impact on the Naira / forex (current thread) All the crude we take back and forth abroad to refine and bring back finish products, that whole process is paid for in USD, the scarce forex we otherwise could put to better use. (Transportation, refining, insurance etc. All paid for in hard USD!)

Look bro, our challenges in Nigeria are not as complex as they are made to look, if only the power brokers and the people holding Nigeria to ransom decides to let go of the choke.

I understand you bro, but I must caution you, its not as easy as you think. I admit that corruption is a problem in Nigeria, but the major issue is the structure of the budget. Do you know how much is ear marked annually for capital expenditures? that is where your answer lies! Is it possible to grow sustainably without accumulating capital? How do you postpone current consumption in Nigeria today where over 60% live from hand to mouth, for future growth? The recurrent expenditure is killing the country. Building a refinery (if you have the money) takes time, will the people be patient? where every politician is cautious of elections and would rather do things that people would rate them with immediately and governments often do not continue their predecessors projects, It is not as easy as you think.
Nigeria is not irredeemable, but redeeming Nigeria is NO walk in the park!

Hakagure:
I dont think we can afford to fix the dollar. We dont have forex to fight at keeping the naira at any level. Demand and supply will determine the price of essential goods, why should we treat them any difference, the country will consume what it can afford! The issue is quite severe and the more we delay the worse the crash will be and we will lose the confidence of the capital markets (this has already happened!)

Lol, calm down It is the duty of the monetary authority of every country to defend the currency of its country against external shocks. Nigeria is currently experiencing a shock because the price of the crude oil has suddenly crashed internationally. Now the crude oil is the most important resources that Nigeria exports, and it accounts for over 90% of our foreign exchange. The implication of this meteoric crash in the price of our main stay crude oil is that, Nigeria would have less revenue generally (and that is why states are having problems financing budgets and Governors threatening to cut wage). In the foreign scene, Nigeria gets less Forex from the sale of crude and can not keep making available the same quantity/units of Forex to the economy before the crude oil price crash.
They guys at CBN are not stupid, they can not allow the exchange rate float as we practically manufacture nothing in Nigeria (we import almost everything that we consume). Even the basic commodities like clothes and food are imported, so tell me what you think will happen to the naira if you let it float after say, 1year. I tell you this, if you let the naira float after a year, lots of people will not be willing to take naira in exchange for there goods/services (naira would be almost worthless). You can only allow your currency to float when you have domestic alternative to imported goods.
You may not agree with the method which the CBN is using to hedge the naira, but you must agree that there is need to hedge the naira. Allowing the Naira to float is suicidal!

Hakagure:
https://www.nairaland.com/2791704/recession-horizon#40854608

Situation may get worse, with this level of currency controls. There will be no FDI coming in, no FDI and no access to credit for most companies. Layoffs , layoffs, layoffs... people will suffer and we are still talking, please lets understand this is severe.

Is any one out there thinking this through, stop playing politics and let the naira float, lets be fully liquid.

Bro, I assume you are not an Economist, it is not sustainable to let the Naira float, it would make the Naira valueless killing the economy.

MAURI:
That is why we have regulations / import restrictions on some goods and not all goods.

Is there enough Forex to sustain essential goods in the economy?

MAURI:
That will make importation of non-essential goods expensive. At some point the equilibrium will tilt when importation gets too expensive and less profitable. People will seek alternative and that will reduce the pressure on the supply of Naira against USD, GBP, EUR.

What about essential goods? What alternatives will people seek? what is the alternative to electricity generating sets? what is the alternative to household appliances? what will the country consume? explain please.

Hakagure:
Simply put, Because the official price is not real, its subsidized. Official rate has a part govt pays for every dollar. Street value is the international value without CBN subsidy.

You are not wrong, but that is not the entire story.
The Demand for Foreign exchange is very high and the CBN can not sustain/meet up with this high demand for long, hence the rationing. The Nigerian economy depends highly on imported goods and services, and this is the reason people need foreign exchange so badly. Things would not have been this bad if Nigeria is still earning as much Forex from the sale of crude oil as it used to before as this accounts for about 90% of the Forex we get as a country . The street price of Forex is usually determined by the supply(availability) and demand(how badly people want the dollar), the Bureau De change guys hurdle Forex in times like this (when it is already scarce) thereby forcing people who must carry out foreign transactions to pay more for it and this puts more downward pressure on the Naira, because you have to part with more unit of Naira for a unit of Forex.

suyamasta:
From my perspective this makes usd/gbp very hard to get hence the naira keeps getting weaker, let the naira ride on normal laws of demand and supply, i noticed naira keeps getting devalued even with all the recent hard policies by the CBN

Suyamasta, what makes you think a floating exchange rate would be best for an import dependent country?

dam4sam:
Actually, it is only when these Easterners want to make mischief, that they lump everyone South of the Niger and called them SOUTHERNERS!

The average "Westerner" does not share their opinion of Northerners and you can see that from our voting pattern and support for Buhari.
You can also see that in our accommodation of Northerners in doing business and living their life in the West.

Th Easterners are the ones who like to abuse and insult everyone.
To them, anyone apart from them is not a humanbeing.

They will abuse Yorubas and insult Northerners.... but we know who they are anyway.

So, every Notherner should ignore such silly comments

I am actually from the East bro, but the views of Nigerians especially those of my brothers both in the South and East often disappoints me.

onyepapa:
The only truth you can get from the mouth of the northerns this days is good morning. Let him swear to die that he knows nothing about it

This is one of the major problems of Nigerians, you talk derogatory about Northerners like Southerners are better. Open your eyes, the politicians are all the same! North, South, West, East, they are all Ignoble men and women. The masses are the fools!

This is very hot! In fact I can feel the pulse of the writer, he is just as enraged as I am, and every Nigerian in his right senses should be this mad at this messed up crooks parading themselves as Honorable. There is nothing honorable about politics in Nigeria, they are all conscienceless thieves who have very low IQ with all their efforts focused on looting the national treasury and having sex with girls young enough to be their daughters.
I spit on Nigerian Politicians and Corrupt Judges, it is really a pity. What is so annoying and frustrating for me is that the Nigerian masses are so naive/gullible, stupid, sheepish idiots, they can not use their brains and deduce that the common enemies are the politicians instead they take sides and stay trapped in a self reinforcing mechanism that causes their life to remain miserable. I feel very pained because countries that have little resources compared to Nigeria are decades ahead of us. It is great misfortune to be born in Nigeria and even worse to grow up there! The situation in Nigeria will make you loose the best years of your productive life, you will lag terribly behind your peers in other countries and you may never know what good living is like. Forget the rubbish talk about people making it in Nigeria, the level of insecurity, lawlessness, abuse, you name it is just too high. Men I need help on how to go about helping Nigerians to open their eyes and to act. We have been docile for far too long, we need to salvage our country from this Bastards. Buhari can do little alone!

cc OAM4J, Mynd44

Which “scared hallowed chamber” Melaye the tomfool is talking about? Which integrity? Integrity for the senate of thieves, thugs, crooks, fraudsters, forgers. A “sacred,” “hallowed” what? Hellooo Saint Kashamu Buruji the drug dealer, Saint Mesujamba Bukola Saraki the forger and fraudster, Saint Dino Melaye the wife beater and other apostles of looting and leeching in the most defiled senate chamber in the world.

As expected, the anti social media bill sponsored by Senator Ibn Na'Allah (APC, Kebbi South) has gone viral. This is what the bill proposes:

(1)Up to seven years in prison or $25,000 fine for “anyone who intentionally propagates false information that could threaten the security of the country or that is capable of inciting the general public against the government through electronic message.”

(2)Up to years in prison or $10,000 fine or both for anyone disseminating via text message, Twitter, WhatsApp, or any other form of social media an “abusive statement.”

(3)This also involves messages intending to “set the public against any person and group of persons, an institution of government or such other bodies established by law.”

The bill does not define “abusive statement or messages.” The bill has passed the second reading. Take a look at the abbreviated profile of the chief sponsor and the outspoken co-primitive sadists of the anti social media bill:


Bayo Oluwasanmi
SaharaReporters Media
Ibn Na'Allah (APC, Kebbi South): He reportedly bought a private jet in 2009. According to a report on Nairaland citing the Sun Newspaper, Na'Allah said it was cheaper for him to maintain his aircraft than to maintain some cars in his garage. He was said to be a car dealer before venturing into politics. According to Nigerian Insight, a recall was launched in September 2015 and has received 30,000 signatures. He was once a member of the House of Reps representing Zru/Fakai/Zawaba/Dawazuga federal constituency of Kebbi State. He is the deputy majority leader in the senate.

[b]Bukola Mesujamba Saraki (Senate President, APC, Kwara Central): Needs no introduction. He's the notorious Prince of Thieves of the Senate Brotherhood of Thieves and the patriarch of the Saraki Family Corruption Dynasty. His money laundering tentacles spread across the globe. He vows that no amount of attacks arising from the bill would make the Red Chamber abandon the proposed law. “People must be held responsible for their action. I believe what has been raised is important,” says Saraki.

Dino Melaye (APC Kogi, West): Bought a home in Abuja estimated at a whopping 1.3 billion Naira ($6.5 million). Melaye opened a foreign account illegally against the Code of Conduct Bureau law for public officers. On December 4, he made a payment transaction to a Kremlin-based cosmetic company MagnitKosmetik on his Bank of America debit card ending with #8873. He has since 2010 illegally operated bank accounts in the US. He was the most visible and vocal bodyguard to Toyin Saraki, wife of Bukola Saraki, during Toyin's visits to the EFCC. When asked by SaharaReporters correspondent how he paid for the mansion, Melaye refused to answer the question, saying, “I am a distinguished member of the Federal government.” When asked that his assets were a matter of public interest, he ignored the question.[/b]

Melaye, foaming from both sides of his mouth on the floor of the Senate, castigates SaharaReporters: “Personally, my person, my character, my privacy have been invaded severally by a reckless media outfit called SaharaReporters and this is becoming unbecoming their operation and activities and this is becoming outrageous calamitous.” Still on the offensive and boiling with anger, Melaye says “These SaharaReporters and others have commercialized their consciences and monetized their operation and are now tools being used against perceived political enemies.”

“If there are no measures put in place, this particular SaharaReporters and others have the capacity to drag democracy into crisis because they have become reckless. They make laborious statements that have no content of fact at all and because of Nigeria's perception it is very important that we check their activities.” Melaye continues: “While I celebrate the social media as one of our major actors, this senate should not be blackmailed or cowed by operators of the social media. “You will read time without number, SaharaReporters casting aspersion on the integrity of the Senate. The Senate is a scared hallowed chamber,” says Melaye.

Which “scared hallowed chamber” Melaye the tomfool is talking about? Which integrity? Integrity for the senate of thieves, thugs, crooks, fraudsters, forgers. A “sacred,” “hallowed” what? Hellooo Saint Kashamu Buruji the drug dealer, Saint Mesujamba Bukola Saraki the forger and fraudster, Saint Dino Melaye the wife beater and other apostles of looting and leeching in the most defiled senate chamber in the world.

Why are these retarded knuckle heads afraid of SaharaReporters? They love darkness more the light because their works are evil. Who is fomenting crisis for democracy? SaharaReporters or the Melayes, the Sarakis, the Na'Allahs the thieves? The answer is obvious.

Needless to remind my readers that SaharaReporters have broken more news first than any other Internet Portal. SaharaReporters have also been right on all occasions. SaharaReporters have uncovered many skeletons and dirty secrets in the cupboards of Saraki, Melaye, Na'Allah and other corrupt politicians who are now calling for the ban of SaharaReporters, the social media, and other electronic medium.

This is hardly the first time a government has responded to a crisis by cracking down on the Internet. In 2014, Reporters Without Borders designated countries as “enemies of the internet” raging from denial of service to walling their citizens off the global web. The countries are Turkey, Iran, Pakistan, China, Vietnam, and North Korea. However, banning of social media is not an enforceable law because users can use Virtual Private Networks (VPNs).

Faced with allegations of corruption, the Turkish Prime Minister Recep Tayyip Erdogan banned the Twitter. The Turks pushed back. Twitter facilitated the uproar by offering advice on how to evade the ban with text messaging. Other users have turned to VPNs to circumvent the blockage.

Turkey's ban on Twitter is as porous as trying fill a basket with water. Erdogan's attempt to stifle social media has not worked, rather it inflamed the opposition. Tunisia's Zine El Abedine Ben Ali tried it and later got overthrown. Same goes for former Egyptian President Hosni Mubarak. In Syria, the violence has only worsened since President Bashar Al-Assad's attempt to smother the web.

Now that these thieves, crooks, looters, and corrupt senators are feeling the heat from SaharaReporters and the social media, they want to ban SaharaReporters,Twitter, texting, Facebook, email, etc. They are insanely enthralled especially with the fearless, fiercest, vibrant, and lethal journalism of courage and investigative journalism of SaharaReporters. You'll think these fools, idiots, and ignoramuses would know better that shutting down the Internet/Social Media and other services on the web, users would come after them.

The proposed bill by the sicko senators – social media terrorists – reveals two significant facts about them: they are of sub average intellectual functioning which is measured by an IQ test and they are defectively limited in adaptive functioning. They all suffer from intellectual disability that falls between IQ of 65 and 75. When other lawmakers in civilized democracies guarantee free access to Internet and WiFi in schools, colleges, and public libraries, the Nigerian lawbreakers want to stifle sharing information, cross fertilization of ideas, knowledge, and creativity in the market place of ideas.

They want to resuscitate the obnoxious Decree 4 in a representative democracy. They want to replace Internet with their ancient idea of suggestion box launched recently by the Akindanidani senators. I don't need to tell the lunatic senators that the bill is a certified DOA – Dead On Arrival!

Saraki is the Alexander the coppersmith of Nigeria of our time. He's doing a great deal of evil to Nigeria, and the Lord will repay him accordingly. Saraki has rejected conscience. He has made a shipwreck of his leadership. He has done everything to contradict everything good that humanity stands for. It does not matter to Saraki whether this be for the common good or not. His own concern is greed, selfishness, and self preservation.

Saraki will not only contradict the good that President Buhari is trying to do, he will also struggle to get other thieves on his side to abort Buhari's war on corruption. Saraki and his fellow Alexander the coppersmiths are like the dog in the manger, they will not go in themselves and they will prevent any one from going in. We're coming after you!

Mr. President Weed Out The Corrupt Judges! And Let's Hear From Mr. Jonathan

The war on corruption – the signature program of President Muhammadu Buhari won't take off expeditiously and successfully until he weeds out the corrupt judges. It is evident that corruption is endemic at all levels of our justice system from police to judges. Instance of financial and moral corruption in our judiciary have become embarrassingly frequent over the years. The systemic rot in our judiciary makes me to paraphrase Shakespeare's Hamlet and remark that something is wrong with Nigerian judges. Corruption in the judiciary is widespread at all levels. Corruption is seen as normal way to deliver justice at all levels of the system. Judges take bribes to cause unnecessary delays, unreasonable adjournments, and render unfair judgments.

Firing of corrupt judges is essential to speed up the war on corruption and to get conviction against the criminals. It will enhance the confidence in the system. It will establish functioning judicial system where political power, status, money, influence, or other interference would not be possible. It will also establish a system in which inefficient judges will not be allowed to work. Removing corrupt judges will ensure swift and proportional punishment in ensuring civilized behavior especially among public and elected officials and maintaining the moral equilibrium in the society.

Former President Goodluck Jonathan's name has become a chorus featured prominently in all the scams that bedeviled his presidency – Ekitigate, Armsgate, Oduahgate, Alamsgate. It is important we hear from him. Let's hear from him what he knew, when he knew it, and what he did. Mr. President, in the name of war on corruption, weed out thecorrupt judges TODAY and let Mr. Jonathan be a special guest of EFCC.

A Lawless Supreme Court Of Coward Justices

The doctrine of the separation of powers in our Constitution divides the institutions of government into three branches: legislative, executive, and judiciary. The legislative makes the laws, the executive put the laws into operation, and the judiciary interprets the laws. The judiciary should stand out as the one element of this doctrine which is relatively stable in its functioning. The Supreme Court is responsible for hearing matters as the Court of Disputed Returns.

A Supreme Court packed with justices that are against swift justice is at best unsuitable, at worst, incompetent. Such a Supreme Court has no business in administering justice as an institution which provides the ultimate balance in a democratic system. The two-month long postponement of Saraki's appeal indicates that the integrity of the whole judicial system is compromised.

The Saraki's case before the CCT is the litmus test of President Buhari's war on corruption. Nigerians feel that the extended life granted Saraki to answer to his crimes portrays the Supreme Court justices as coward men who prefers to side and shield Saraki while they are vehemently opposed to the Nigerian people, the Constitution, and the President's resolve to rid Nigeria of corruption. It also shows the justices lack tenacity and fortitude when the nation desperately looks up to them for their wisdom and direction to resolve a simple and straight forward case.

This is the time when the Supreme Court has the unique opportunity to uphold the rule of law, but doesn't. This is the time when it has the chance to remind the lower courts that it, and not they, are the final interpreters of the Constitution, but doesn't. The unduly long postponement of judgment in the Saraki's case reveals the lawlessness of the justices. A court that acts only when its actions will virtually have no impact is a lackey court. The Supreme Court decision is appalling and petulant. The action of the justices is uniquely countermajoritarian. They are out of touch with the Nigerian people.

For now, as Saraki hangs on like a grim death and cause a further serious decline in morale and confidence in our judiciary, the nation is nervously waiting to hear from the Supreme Court come February 5, 2016.

bjoluwasanmi@gmail.com

http://saharareporters.com/2015/12/07/senate-sickos-%E2%80%93-bukola-mesujamba-saraki-ibn-naallah-and-dino-melaye-social-media[b][/b]

SeverusSnape:
What the hell is wrong with this man

He always makes negative prophecies and never proffers solution for the impending doom.

As for the attacks, This is a wake up call for European countries, You don't openly welcome terrorist Mohammedans into your country and expect them to be peaceful, never!...The E.U better make more stringent laws about immigration especially from the middle east and all ISLAMIC countries.

I've not been my self today because of those attacks, Indeed, This religion of peace is really pissful.

RIP to all the dead.

You sound very shallow, not because of your remark on the ''Sky Daddy'' but that you fail to understand the root of these problems.
If there is to be peace in this world the Western countries (the so called super powers) have to stop infringing on countries sovereignty under what ever guise.
Why was Libya invaded? Is Libya any better today? Why are refugees scattered across the globe?
This is the 21st century, a lot of persons in/from the areas where atrocities are been perpetuated are not ignorant, the era of structurally disorganizing economies for economic gains should no longer be viable. According to the Evolutionary theory, the fittest survive but what has natural selection process have to say about survival?
The west have to restructure how they relate with countries of interest, violence will only beget violence. Rest in peace to all the civilians (excluding politicians) who have died on both sides.

HawksDude:
Lol. This drama actually proves he's guilty of the charges!! I think he should be jailed already even without a trial.

He is a crook with smart lawyers, they are buying time to afford them find a political solution. I pray for Nigerians sake this fails. Cause in politischen every second counts.

Dannyset:
Too many reasons why people like you will die of anger is because you don't recognise what should be laughed upon! I pity you. Saraki will live and people like you will still vent useless anger on media, and at the end of the day you won't be able to do nothing.

You are very dumb....very very! I mean telling people to pray for their oppressor? Thats a new low.

Dannyset:
Nigerians should all remember Saraki in their prayers. He needs prayer of intercession at this point.

Saraki went tru a difficult situation ysday to confirm Amaechi against all odds. I saw it in his eyes, he was stammering. I felt for him. To me, he was only paying for his misdeed. But then, nobody will outrightly fault his ambition.

We might be controlled by our emotions and feel that he should be forgiven(my feelings too), but Politicians don't play it that way. Even he(Saraki) could become unpredictable after everything.

But in all these, I think he will be pardoned and freed with a rope still on his neck.

You seem like a very shallow person. Come, how old are you? Nigerians should pray for Saraki, really? You see people who have perpetrated heinous crime against the state, they have denied and keep denying teeming population of youths a meaningful life and all you can say is Nigerians should pray for Saraki. Let God punish you and your prayers! You need to travel out of that hell hole called Nigeria so that you can experience what living should be like. You are the reason people look at Nigerians as mentally sick.

I am very sure that Dieziani will be willing to trade some millions of dollar in exchange for some peace and tranquility from the world especially Nigerians right now. I doubt that there is any truth to this story of 13 billion British pounds. That amount of cash is so huge that could destabilize the economy of Britain. We know she stole big big money, but for her to have 13 billion pounds in cash? please tell that to the marines.
This issue of senseless accumulation of wealth is a reoccurring decimal in the Nigerian political landscape and it even extends into our private business lives as Africans, what is the use of accumulating more wealth than you can consume whether legally or illegally, at the detriment of your neighbor, state men, health, leisure, happiness? Africans need to be reminded that the reason we work is to be able to live and not the other way round. Africans need to stop killing themselves working on things that don't count.
Do quality things that count because in the end you only need a little money to be happy.

babestella:
Shut up that cesspit you call mouth, how could someone spend 10Billion for a days celebration or even in 5 years to celebrate independence. You must be very sick to believe such. GEJ and PDP have challenged the APC top publish the details of the spending for Nigerians to see. Let them go ahead and publish it and lets see who is actually telling lies. I can see APC has learnt to tell you fooo0ooools what you want to hear instead of focusing on real governance.

Tomorrow they'll come and tell us GEJ bought open gold shoe for 25 Billion naira and de-diots like you will believe it. Animal.

Every normal person should find it difficult to believe the news that the Nigerian government spent a mind blogging amount running into Billions on independence day celebration. But that it is difficult to believe does not mean that it did not happen. The link below should interest you.

https://www.nairaland.com/476700/breaking-news-jonathan-reduces-independence