Sanusi In Tears; Says Reforms Are Not A Northern Agenda! - Politics (3) - Nairaland
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| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by tai2(m): 5:21pm On May 15, 2010 |
^^^^^^^ Just to show how daft you are: http://www.abujacomex.com/. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by davidif: 5:27pm On May 15, 2010 |
paddy lo May the good Lord bless you. I agree with everything you say. I even watched a documentary on the ethiopian stock exchange and the lady who started it (she went to Cornell University) and boy oh boy it was incredible. Sanusi could have enacted stuff like this. If u dont get it its ok. . .The Complexities of a modern economy is not something everylay person on Nairaland would understand Your points are incredibly correct but let's not forget that Sanusi's failure is an example of Nigeria's failure in the educational sector. The average Nigerian economics student doesn't even know squat about derivatives and other tools to hedge risk i couldn't imagine how an average nairalander would understand this and we complain everyday about Nigerian companies hiring foreign workers. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by paddylo1(m): 5:28pm On May 15, 2010 |
^^^^^^^ Just to show how daft you are: http://www.abujacomex.com/. Its not about showing me a website. . how many farmers are selling their goods on the exchange? How much productivity has been improved? How is that so -called exchange helping the average farmer on the street? As far as i am concerned thats a joke. . . . Go to the Ethiopian exchange and see raw figures,and numbers an how they are changing agriculture in Ethiopia |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by naijaking1: 5:30pm On May 15, 2010 |
@davidif & paddy lo Comparing Ethopia with Nigeria in terms of commodity, finance and banking is like comparing apples with See the reason below: https://www.nairaland.com/nigeria/topic-446122.0.html |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by UpBendel(m): 5:31pm On May 15, 2010 |
paddy_lo: Guy I am VERY aware of what these instruments are. I am just perplexed at your argument and really do not see the point. We don't have good roads, water, light, schools, hospitals, or even a communication system to talk of and you are suggesting we start with derivatives?? Hello?!?! |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by UpBendel(m): 5:33pm On May 15, 2010 |
naijaking1: Oga WETIN BE YA POINT!?!? |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by tai2(m): 5:38pm On May 15, 2010 |
Derivatives , hedging and other newfangled methods were what ultimately led to the downfall of these banks in the U.S. You want to try a technique like shorting in Nigeria, with all these crooks and con men around? Be my guest. Sanusi is going after people who merely owed banks and people are here lamenting including yourselves, lets see what happens when brokers here acquire the means to sell other people's stock through shorting techniques. Nigerian investors have not even acquired the financial literacy to understand that what Sanusi is doing benefits them and the economy in the long term and here you people are advocating derivatives. God save us all. Regulatory functions of the stock exchanges in the country is even the function of the SEC I don't see how that is Sanusi's business, he was merely speaking about the exchange as it affects the banking system and the need for power to promote other areas of the economy. This so-called knowledge y'all are showcasing here, shows you know squat about your economy. Plus the DG of the SEC in Nigeria went to UNN and Harvard, so I don't see what the fuss is about educational qualifications. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by naijaking1: 5:41pm On May 15, 2010 |
UpBendel: My point  Unlike Ethopia for example, whose CBN governor is well educated and informed about the complexities of a modern economy, our own CBN governor is barely literate. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by paddylo1(m): 5:47pm On May 15, 2010 |
@davidif & paddy lo Its Pathetic. . . . How did this guy get this job in the first place? This is the main problem with Nigeria. . . How can he calmly insult every other ethnic group and then claim he is not pursuing a Northern agenda? How come he has no written papers on Economics,but only politics and religion? Men u guys supporting this dude,u really have to check your brains After he says Fulani are supposed to rule Nigeria for ever and u still say this guy is right in the brain God save us from naive Nigerians. . .I dont usually believe in religion much but i think the death of yaradua is some kind of intervention from above to stop this guy He is dangerous for our country |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by UpBendel(m): 5:49pm On May 15, 2010 |
naijaking1: The next thing you will present in support of your argument is Sanusi's sexual persuasion. You presented two items; one that appeared to support the fact that we do not have a system in place to support the instruments that the other guy had suggested. The other item you presented clearly contradicted and had no relation to your first argument. Once again, where do you stand |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by UpBendel(m): 5:50pm On May 15, 2010 |
paddy_lo: My God!!! |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by UpBendel(m): 5:52pm On May 15, 2010 |
paddy_lo: Whether he is a Northerner, Southerner, cat, dog, or mongoose is not the issue at hand here. We are simply concerned with his stance on THIS particular issue - cleaning out the banking system. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by paddylo1(m): 5:58pm On May 15, 2010 |
Whether he is a Northerner, Southerner, cat, dog, or mongoose is not the issue at hand here. We are simply concerned with his stance on THIS particular issue - cleaning out the banking system. Did u read the article that naijaking1 posted? If u did u will notice 2 things straight away 1). .In more civilized countries there is no way on earth sanusi would have passed a confirmation in the senate after making such remarks attributed to him in his write up 2). .Your CBN Governor is more interested in writing about women,religion and politics than actually writing about Economics If that does not bother u. . .then u are not being honest and i think in a multi ethnic,multi religious country like ours with so many problems,that guy should not be at the helm of a sensitive position like that He should be seen to be neutral. . .and professional,but he comes across as neither. . thats a problem |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by naijaking1: 6:00pm On May 15, 2010 |
UpBendel: You must have meant to say destroying our banking system. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by UpBendel(m): 6:08pm On May 15, 2010 |
paddy_lo: Don't know if you realize this but if Sanusi with his lack of experience or 'qualification' can expose this level of theft, what do you suppose a more qualified person in your view, would be capable of doing?? |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by naijaking1: 6:16pm On May 15, 2010 |
UpBendel: You sound like a reasonable person, but unfortunately with regards to many of Sanusi's allegations of theft, cooking the books, and corrupt enrichment, you have been "had" or taken. Because of this confusion, people like you just start making allegations too, without knowing that they're simply repeating what Sanusi had said, and none of which has been proven in any court of law. Just be careful, or just be more objective. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by Ibime(m): 7:35pm On May 15, 2010 |
Unfortunately, it is the likes of this journalist who lies to us that our Central Bank Governor was crying (without producing any pictures) that typify the kind of subversive hatchet jobs being carried out on the institution of the Chief Regulator of our Financial Markets. I am still waiting for the picture of Sanusi crying. . . . having read alternative reports on the LCCI conference, I can tell you that every single statement in this article is an embellishment. . . |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by Mesef1: 7:46pm On May 15, 2010 |
paddy_lo: I agree with you 100%. Sometimes, I wonder what sort of country we are. How Sanusi got the job above other qualified Nigerians still beats me. Apart from being a northerner and the fact that "it is their turn", there is no other sensible reason. If the guy likes, let him cry from now till tomorrow, there is no dissociating the northern agenda from what he did. Now to what he did. Are they needful? I mean are there things that need to be put right like cooked financials, false profits, insider abuse in Nigerian banks? I will say Yes. But did he choose the best possible means of dealing with this problems? I will say NO! Let me make my point about Sanusi's failures by using this analogy: [b]After carrying out a series of test on a patient, a Neurosurgeon founds out that the problem is that some foreign substances are mingling with the brain and causing some troubles that may likely get aggravated if not corrected. He sets out to carry out a surgery to remove the foreign substance so that the brain can start functioning well. Because he was more concerned with the speed with which he had to carry out the operation, he threw caution to the wind and did not exercise due care in seperating the foreign substances from the brain. He damaged the brain (a delicate and important body organ) in the process even though he succeded in removing the substances. At the end of the operation, he left the patient worse off because the damage to the brain had caused a nervous breakdown to the patient. Then, some friends of the Neurosurgeon came forward to defend him for carrying out the operation saying there was a problem and the only feasible solution was to operate the patient at that time. As tenable as that sounds, the fact remains that the patient is worse off after the operation. [/b] Sanusi is not different from this Neurosurgeon. I really do not blame him, i blame those (maybe Late Yar'adua) who offered the job as technical as that of the CBN Governor to a Sudan-trained Islamic scholar whose only life ambition is to be the Emir of Kano. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by paddylo1(m): 7:52pm On May 15, 2010 |
Sanusi is not different from this Neurosurgeon. I really do not blame him, i blame those (maybe Late Yar'adua) who offered the job as technical as that of the CBN Governor to a Sudan-trained Islamic scholar whose only life ambition is to be the Emir of Kano. Spot on. .we always moan and cry in this country, but we are always ever ready to accept second rate and at worst incompetent ppl in places of high position The developed nations we see got there by putting round pegs in round holes ppl with vision drive their economy,but not us our central bank Governor is an Islamic Scholar our former oil Minister(Rilwanu Lukman),was a washed up 70+ old man with no new ideas Our Minister of Finance designate(Bode Augusto),was dropped because he was not from the North In Places like NNPC Nepotism and corruption is the order of the day How i wish Sanusi will truley resign and face the politics of becoming Emir of Kano |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by naijaking1: 7:56pm On May 15, 2010 |
Ibime: Don't attack the journalist. Sanusi or the CBN has not denied or demanded a retraction of this story as written. If you're so saddened by the story, contact Sanusi or his well paid publicity machinary and write a retraction. Thank you. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by naijaking1: 8:10pm On May 15, 2010 |
Me sef:Thank you. My only addition is that Sanusi in this case is not even a qualified neurosurgeon, he couldn't complete the required 8-7 years of residency. Because he was politically appointed a neurosurgeon, he has to make up for his deficiencies by attacking the previous surgeons who left a foreign object in the brain. He actaully went to the patient's family and told them how careless the previous surgeons had been, he took to to the airwaves to denounce carelessness in the surgical profession, and then vowed to correct every anomaly. He took his road show to the politicians in the senate, house of reps, and to everywhere lay people could listen, however he avoided confronting his fellow surgeons, either at professional meeting, or even panels of experts. While he performed his road show, surgeons in other countries couldn't believe their eyes, while fellow Nigerian surgeons who are not already in jail, simply waited, because they know that foreign body in the brain could be a clip purposely left in place to stop a bleeding aneurysm. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by joshO: 8:12pm On May 15, 2010 |
What you guys yapping about Sanusi not being educated and what not, The dude has a Masters degree in Islamic studies from Sudan! He's adequately equipped for job at hand. Shikenna. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by naijaking1: 8:24pm On May 15, 2010 |
joshO: Even Sudan wouldn't make somebody like Sanusi their CBN governor, have you seen the academic credentials of their own CBN governor? https://www.nairaland.com/nigeria/topic-446122.0.html Note, Sudan is not half as wealthy as Nigeria. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by Ibime(m): 8:47pm On May 15, 2010 |
naijaking1: Its either you wanna engage in self-delusion, or you want the truth. . . .this is a verifiable lie. . . . many journalists have written on the LCCI conference, and Nkechi was the only one who noticed the CBN Governor crying. . . . CBN cannot concern itself with dispelling the many myths that our journalists print. . . .that would be too noisy. . . . it already is. . . . no Central Bank in the world has to contend with such. . . . Am not concerned with lies or whatever (which are aplenty), but the recklessness of this lie is ridiculous. . . . we are talking about an institution of severe national importance here. . . . this is why I always go to businessdayonline to get my financial info, not these National Enquirer wannabes. . . . needless to say, if the CBN Governor suffers a breakdown in public, his position is no longer tenable. . . . . |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by jayx: 9:18pm On May 15, 2010 |
na him know |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by JaaizTech: 9:24pm On May 15, 2010 |
naijaking1:What is wrong with having a masters in Islamic Studies I don't think you would consider your pastor a "dumb Brain" if He decides to bag a masters in theology. Learn to look at issues objectively.Sanusi Lamido didn't just come from no where to become the CBN governor: In 1985 Sanusi joined Icon Limited (Merchant Bankers), a subsidiary of Morgan Guaranty Trust Bank of New York, and Baring Brothers of London. He moved to the United Bank for Africa in 1997 in the Credit and Risk Management Division, rising to the position of a General Manager. In September 2005, he joined the Board of First Bank of Nigeria as an Executive Director in charge of Risk and Management Control, and was appointed Group Managing Director (CEO) in January 2009. He was also the Chairman, Kakawa Discount House and sat on the Board of FBN Bank (UK) Limited. Sanusi is recognized in the banking industry for his contribution towards developing a Risk Management culture in the Nigerian banking sector. (http://en.wikipedia.org/wiki/Sanusi_Lamido_Sanusi ) Sanusi has presented papers at dozens of academic fora on several continents, and many of his papers have been published in academic journals, books and newspapers. ( http://allafrica.com/stories/200912160227.html ) If not for bias for the North or hatred for the North; I do not see any reason why any sensible person would be blaming Sanusi for his reforms!. What has He done Sanusi came and kicked out the MDs of some banks that have been found wanting in their managerial role. They embezzled and mismanaged depositor's and ordinary investor's money (not different from what the common thief does).Secondly; Sanusi injected funds into these banks that were in a financial mess; it is also worthy to recall; that before Sanusi came onboard it was already published in the Africa report that some Nigerian banks are weak; but Soludo of course lied to us and denied it. What happened in the banking industry is an indication that the system was in a bad mess before Sanusi came but they were shielding it from us; had Sanusi not intervened at the time He did; perhaps the system would have suddenly collapsed and depositors would have been the biggest losers. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by Nobody: 9:27pm On May 15, 2010 |
naijaking1: if i wasn't on NL, i wouldn't even have known of this so called journalist and 'tears of the cbn guvnor' in fact, i'm sure naijaking is the only nigerian who read the article originally. naijaking could even be the same person as the author of the article. why should sanusi even be aware of the pathetic attempts of a n20 hack from a paper that probably only exists in the ether and only materializes for the purpose of dubious misdirected ad poorly thought out smear campaigns , just like the so called renaissance professionals? |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by JaaizTech: 9:45pm On May 15, 2010 |
naijaking1:[b]Let me help with your fraudulent Analogy. The Banks were sick; (this was also diagnosed by the "africareport" earlier before Sanusi ): Sanusi goes ahead to find the cause of the illness or symptoms. He discovered that the CEOs / MDs of those banks have actually been robbing the Depositor's and investor's. They have been making use of their deposits without following banking ethics; they have exposed them unduely to the Stock Market and all sorts of malpractices to the detriment of the Bank; Most importantly they continually lied about their yearly Profits and growth.(They were actually in a big financial mess waiting to explode, ). What does Sanusi do?? Firstly; He decides to kick out these rogues and get them to pay for their crimes in the law court (Isn't this what we 've all be clamouring for!!! that EFCC should put all the rogues behind the bar!); Sanusi does not stop there; He goes ahead to inject funds in these banks to ensure they don't collapse. The Result: The affected banks survive an impending collapse, Bank Debtors who had hitherto refused to pay back their loans started paying back; and the bad side: jobs were lost . My question to you my learned friends is: How did Sanusi's reforms kill the Banks All He did was to remove their CEOs and their Co-looters; He even went ahead to pump money into the Banks. Are you saying that should Cecilia Ibru or Erastus Akingbola suddenly falls ill and die these banks too will suddenly collapse!!. The Answer is: These Banks were already in a Mess before Sanusi; they were only hiding it; and they could have only done that for so long; had Sanusi not intervened we would have woken one morning and suddenly hear over the Radio that all our savings / investments are gone.[/b] |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by paddylo1(m): 9:53pm On May 15, 2010 |
If not for bias for the North or hatred for the North;Thats laughable. . .what has him being there, benefited the North? matter of fact if the Nigerian economy dies due to his actions the whole country will suffer not just North or South For your info if we had a CBN Governor whose only advanced degree is in Theological studies I would be condemning him also on these pages. . . We dont have time for mediocres. . the world is moving on |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by edoyad(m): 9:57pm On May 15, 2010 |
I still stand by my word that Cecilia and co should be sanctioned. But by God, do you guys actually mean the CBN gov of Nigeria is a product of religious studies, Msc ? Back in school lecturers couldn't even become HOD without a Phd. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by edoyad(m): 9:57pm On May 15, 2010 |
I still stand by my word that Cecilia and co should be sanctioned. But by God, do you guys actually mean the CBN gov of Nigeria is a product of religious studies, Msc ? Back in school lecturers couldn't even become HOD without a Phd. |
| Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by Ibime(m): 10:14pm On May 15, 2010 |
paddy_lo: And how have his actions affected the economy? Please list the actions and the attendant effects! |
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