PapaBrowne:

[b]Anyone noticed how silent the press lover Sanusi has become these days??[/b]He hasn't said a word since, despite the fact that Gusau attacked his actions.
He should do exactly what he promised to do mif Jonathan doesn't approve of his reforms: He promised to go on exile!

Dont mind those illiterate Nigerian policy makers and their gullible journalists who doesnt know zilch. It is only in Nigeria that a world renowned and performing economic scholar would be replaced with an Islamic scholar.
By the time Sanusi is done with his Islamic banking reforms, Nigerian economy would bleed to death.

its our mentality in this country to choose our man to run the country as we like. we are stiil far behind civilisation sense, i feel like crying for my people everydays of my live. allahu ahlam

Its not enough to be good or highly rightful. Wisdom is the principal thing. Sanusi is the prove of Yaradul insanity.

Well done guys
PK001,
Onlytruth
Naijaking
PapaBrowne
Metal+gong
Malipous
Frank-C
Funkyb
Uchemanga
Especially Me sef
And others for the course

I must say sanusi didn't have a genuine plan to reform our monetary system from day one. In their one-track game plan, 'they ' underestimate the power of divine intervention, the pples voice and the crying souls, which is now playing out.

Their scheme to sell out(whether to themselves or foreigners or religion) Naijas future, economy was aborted starting from- the infirmity of Yar'dull, incapacitation of Turai and abdoumutallabs sons undoing(that gave him achilles heel). Let he that have understanding decode it.

More highly classified drama will keep unfolding. Just watch.

I thought Sanusi Lamido was seen as omini-science in the senate on the day of his screening. So what is happening to our all knowing Sanusi Lamido Sanusi?

Funkybaby, e be like say ur face look farmiliar, gimme that twenty million naira and I ll give u five percent every month, walahi u go give me more. But u no try o, u get 20m lying idle in FCMB (I beleive u still have more in other banks) and I dey hear dey look for 500T to start poultry. Dog wey don belle full no dey follow the one wey never chop play o. In short, I dey vex comot.

The Man Sanusi is a destroyer in disguise cos when he first came into the show last year it was as if our redemer has come, but as time went by he started unveiling his wolves nature thereby putting aside his initial sheep cloths. From what i have seen from his reforms he deserves not to be CBN governor by tomorrow. He is just an islamic scholar pretending to be an Economics just for the sole purpose of islamizing our Economy. Zap. O.F.F Mr Lamido Sanusi cos your time is actually up mahn.

@kafanchan
from block making to sawmill and now poultry farming. . . . What business idea won't I get today? Lol.

Abeg no vex commot. Vex for sanusi. Dunno what the community banks are doing. They should be able to provide short term loans to encourage small entrepreneurs.

http://www.punchng.com/Articl.aspx?theartic=Art20100501541442
This is an interesting in Punch of Saturday (yesterday). It is crucial reading for anyone to understand the role of CBN Governors.
It probalby would answer some of the questions that have been raised on this thread.

http://www.punchng.com/Articl.aspx?theartic=Art20100501541442
This is an interesting in Punch of Saturday (yesterday). It is crucial reading for anyone to understand the role of CBN Governors.
It probalby would answer some of the questions that have been raised on this thread.

@TEE ZERO,

This an intresting story. The man kept saying since the banks have enough money to operate while disturbed them again.

It means without money injected into all this banks they can still survive. Instead of caution them and give they time to defend

themselves. Most of those money have being recovered. If it thoroughly investigated,more banks are guilty of that offence.

@TEE ZERO

The story in d punch sure ascert what most of us already knows.

Try also to follow all the previous posts on this thread b4 urs. Some throws light too.

By the story, It also mean Utomi was right that they don't need the injected money given to them. Becos Soludo saw they have d money and there was no cause for alarm, and that the focus should b macro economy which is paramount to every economy

Sanusi was really on a mission. Which is visible enuff, and he got d podium(d CEOs recklessness) to unleash it at the detriment of d economy(both micro and macro) and employment market.

True dat CBN gov has individual tact and technology. Sanusi has succeeded in creating Frankeinstein with his unbridled omniscience, like uchemaga said few post away- 'it is not enuff to be good or highly-rightful but to use wisdom'.

Sanusi is brilliant but not pragmatic, Soludo is intelligent and wise this is obvious from result

The CEOs r not only penalised but were rubbished as though they never made any meaningful impact to d economy.

If I have to continue to highlight sanusis misdeeds I might not leave this thread. As av said b4, try to read other posts b4 urs u will understand better.

I like Sanusi. He exposed a lot of people and did a lot more than Soludo to save the Nigerian banking system from what it was becoming. Though he is not perfect he has tried his best. He should be brought into the new government as the CBN president and left alone.

TewMuch:

I like Sanusi. He exposed a lot of people and did a lot more than Soludo to save the Nigerian banking system from what it was becoming. Though he is not perfect he has tried his best. He should be brought into the new government as the CBN president and left alone.

Which is exactly where you people are getting it wrong. The number of people you think he exposed, arrested and locked up is simply not a macro-economic index.

That alone simply wont count for any CBN Governor if all they end up achieving is destroying the economy itself.

mikeansy:

Which is exactly where you people are getting it wrong. The number of people you think he exposed, arrested and locked up is simply not a macro-economic index.

That alone simply wont count for any CBN Governor if all they end up achieving is destroying the economy itself.

Well he recovered a lot of investors money, that can be put back into the economy. He has also helped to restore investor confidence, as they know there is a strong presence that may be working in their favor to secure their investments. Like i said he is not perfect, but he did well and we should appreciate what he has done. He can be brought in to work with with the new government. To me he seems like an upright person. I know people will be so quick to jump on him because of his policies, and name all sorts of conspiracy theories but he has good ideas. At least we dont have lifelong bank CEO's anymore, that can steal, lend to their family and operate a failed bank for life.

@TEE ZERO
That was an interesting piece by a worker who still feels some degree of loyalty and obligation to his department and Sanusi. However, his professional opinion about differences in management style was totally lost on Sanusi, who saw this difference in style as criminal. Who could have believed that Soludo did not write a pact with corrupt bank CEOs to commit all sorts of "cooking the books" giving loans without collaterals, and other professional misconducts

@funkyb hav u heard somone askin u 4 500T loan nd all I can say is dat is d kind of world we leave in, som pple have xcess while some have nothing. The irony of life evrytime I pass a small gal running afta cars tryin 2 sell pure water I feel sad because it shld be a criminal offence 4 dis to continue, the economy of dis country has bin bad in d last 20yrs d foundation is very weak nd unstable the economy kips gettin worse nd wld kip gettin worse if fundamental corrections are not made.

What is Sanusis offence dat Jonathan shld sack him, in official matas its abt policies nd procedures, hav Sanusi gone against any bank policy in actions he has carried out, has he contravened the rules that guide d ofc of gov of cbn, did he take any decision unilaterally, he gave documented reasons 4 his actions in sackin those CEOs, is there any law dat says he must sack all d MDs together.

^^^^^^^

Is there any law dat says he mustn't destroy our banking system?

Our problems are lack of proper plans in all the institutions. We actually don't need a superman to lead us in any of our institutions to achieve success. With the proper institutions and concepts, all we need is the right guy to follow the job descriptions, otherwise we keep on trying any of the brainless big names to no avail.

naijaking1:

@TEE ZERO
That was an interesting piece by a worker who still feels some degree of loyalty and obligation to his department and Sanusi. However, his professional opinion about differences in management style was totally lost on Sanusi, who saw this difference in style as criminal. Who could have believed that Soludo did not write a pact with corrupt bank CEOs to commit all sorts of "cooking the books" giving loans without collaterals, and other professional misconducts

you no dey tire?
Haba!!! Sanusi thief your babe?
This your wailing without logic don pass another thing.
How can anybody be quoting Pat Utomi in this matter?
What did you expect him to say?
- PHB are guilty as charged.
- I failed in the discharge of my duties as a director of the bank.
- I was aloof and probably decieved (or even compromised) while Atuche was going wild with his banking cowboy antics.

Apart from buying shares on the floor of the stock market, i wonder how much interactions you have with Nigerian banks?
Atuche was just running a personal empire and doing as he pleased.The board (like the board of most Nigerian banks) was just their only in name and were not bothered as long as their personal interests were not threatened.Yet people come to quote Utomi as reference point in a matter he is culpable.
Only one who is not observant will not know that saddle called Nigerian banks need cleaning.The books are completely cooked with only one or two exceptions.
Like i said, the anual reports are not worth the paper they are printed on.
We would not have needed Sanusi's high handedness if Soludo was doing his job.Instead he was dragging the limelight with those he was meant to be regulating.
Sanusi has his faults but to blame him for the present predicament is to be blind to the truth.
Soludo with his 'paddy paddy' regulation and oversight as a reserve bank governor put us in this c.r.a.p we find ourselves in.
You are barking up the wrong tree.
I don't care if Jonathan removes Sanisi or not but i am glad that he has thought these rascals a lesson.We as a people will not tolerate the recklessness that brought All States Trust bank and its likes to its knees.
There must be accountability in banking.
Salvation is far fetched but we must begin somewhere.

Some strange talks here.Some experts shld tell usat what rate did dangote got his foreign loan and at what rate does nigerian bank give loan.
Again what's wrong adopting a policy that forces money to the populase instead of some FIXED DEPOSITE ACC

@naijaking1:
No, the CBN deputy director has retired - after 31 years of being an "obedient servant."
I think we should read between the lines, with an open mind.
The banks are releasing their results now. I have just read about the full results of Access and Diamond. Both posted huge losses after tax. Before Sanusi they would not only have posted huge profits before tax but also dividends.
I don't know about macro-economy or banking supervision, I know that my banks don't work to make my money grow.
This is my 15th year of running a mid-sized firm, and my grouse with the banks we have relationships with is that they don't make our money work for us.
Perhaps we should look at the bright sides of Sanusi's intervention. Just perhaps.

in order to restore confidence in the Banking industry, FG should sack Lamido Sanusi; We need Ngozi there.

i believe its our collective responsibilty to correct erroneous impressions for the benefit of all users of this forum.
@marvix: u claimed that b4 sls, lending rate stood at btw 41-50% and now its 25%, could u pls give us a break down of all lending charges (interest, mgt, processing and commitment fees) b4 and afta sls to substantiate ur claim? U can use ur own bank as a case study.

TEE ZERO:

@naijaking1:
No, the CBN deputy director has retired - after 31 years of being an "obedient servant."
I think we should read between the lines, with an open mind.
The banks are releasing their results now. I have just read about the full results of Access and Diamond. Both posted huge losses after tax. Before Sanusi they would not only have posted huge profits before tax but also dividends.
I don't know about macro-economy or banking supervision, I know that my banks don't work to make my money grow.
This is my 15th year of running a mid-sized firm, and my grouse with the banks we have relationships with is that they don't make our money work for us. Perhaps we should look at the bright sides of Sanusi's intervention. Just perhaps.

Making our money "work for us" is the common interest of all bank customers, no matter tribe, religion, or even political affiliation. I agree with you 100% on this one.
Nigeria never had a perfect banking system, instead we have a system that needs continuous improvement, not total destruction. From that Punch article, it was obvious that every CBN governor, probably since the days of Clement Isong had his own style of management, but the system could have never grown if governors wedge an open, political, and total destruction of the policies of their predecessors as soon as they come into office.

I can understand if Sanusi had invited Soludo for some type of breakfast meeting where he would have sought to understand the reasons behind the so-called lax supervision of bank CEOs. I bet you, the 2 men would have learnt a thing or 2 from each other. However, if cheap political point is your main interest, then you would use every imaginable opportunity and advantage to rubbish your predescessor, and that's where Sanusi show his true color.

Everytime he had an opportunity to be a true banker, he choses political lime light, road shows, and other sheninigans to make his point. No other CBN governor has been as irresponsible with his personal and official statements as Sanusi, maybe that's what he learnt form his Islamic studies school at Khartoum, i don't know.

How this can be an interesting and stimulating thread if it is devoid of abuse and name-calling.

[size=14pt]The Fedral Govement should establish an Islamic Cental Bank Governor who would over-see the regulation of Islamic Banks in Nigeria. Sanusi fits the bill to be the first Govenor of such an institution, if Sanusi likes he can pass an edict where Bankers arms would be chopped off in the event they give out too many loans without adequate collateral.

The rest of Sane or Secular Nigeria can have a proper Central Bank Governor who would discharged his duty honourably without Soludo's lackadiscal attitude or Sanusi's Fundermentalism[/size]

TEE ZERO:

How this can be an interesting and stimulating thread if it is devoid of abuse and name-calling.

I'm not sure you're referring to my write-up, but if you're, then I would challange you to show me what you call "name calling" Name calling would be a derogatory, false, and unsubstantiated reference to another person. If you can show me which of the things I said that's not true, then I will own up it, and probably apologize. However, if your beef is a subjective impression colored by your own prejudice, then I would say you have a problem with being criticized.

Need I say more?

If our law makers had done their job properly they would never have made Mallam Sanusi CBN Governor, anyone who as read his published articles would know the man his better suited to be an Imam, not the head of a financial institution like the central bank, the appointment would have made sense if Nigeria was a muslim republic and not a secular state.

To understand his mind and thinking we citizens of Nigeria need to read some of his article , please find below links to some of his published articles.

http://www.uga.edu/islam/sanusi.html

“Between the Shariah and ‘Barbarism’ ” (link fixed 20 August, 2005.)     http://www.nigerdeltacongress.com/barticles/between_the_shariah_and.htm

Yorubas are the Problem with Nigeria - By Sanusi Lamido Sanusi    
http://www.elombah.com/index.php?option=com_content&view=article&id=868:yorubas-are-the-problem-with-nigeria-by-sanusi-lamido-sanusi&catid=57:sanusi-lamido-sanusi&Itemid=79

The Yoruba elite were the first, in 1962, to attempt a violent overthrow of an elected government in this country. In 1966, it was the violence in the West which provided an avenue for the putsch of 15th January. After Chief Awolowo lost to Shagari in 1983 elections, it was the discontent and bad publicity in the South-West which led to the Buhari intervention.


iii.The Igbo Factor and the Reasonable Limits of Retribution.
 
The Igbo people of Nigeria have made a mark in the history of this nation. They led the first successful military coup which eliminated the Military and Political leaders of other regions while letting off Igbo leaders. Nwafor Orizu, then Senate President, in consultation with President Azikiwe, subverted the constitution and handed over power to Aguiyi-Ironsi.  Subsequent developments, including attempts at humiliating other peoples, led to the counter-coup and later the civil war. The Igbos themselves must acknowledge that they have a large part of the blame for shattering the unity of this country.

Well, if the FG is flirting with the idea of replacing Sanusi with sb else of more experience, then I say quicken it. . The economy is seriously gasping for fresh breath, it has suffered too much both from Soludo's deliberate laxity and Sanusi's unneccessary enforced banking piety and high-handedness. . I ve always argued it here on NL that Sanusi may mean well for the economy with very harsh policies, but he obviously lack the technical finesse and tact to implement a pragmatic reform that is expedient and not neccessarily the morally right thing to do. Sanusi made a grave error when he mistook economically expedient policies with his religous standing on what is morally right or wrong. He was too hasty and erratic with decisions, his actions exposed his lack of thoroughness and attention to details, he was more interested in talking too much and playing to the gallery. No doubt, the finance sector needed and still needs reforms but they should be holistic and be able to cater for every part of the problem. Sanusi has done his bit, at this point, I see a diminishing return if he continues, the sector actually needs a fresh breath of result-oriented ideas that takes it in stages and honestly, Sanusi is at his wit's end. Enough of the talking tough, now let us talk intelligence.