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CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement - Politics (3) - Nairaland

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Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by buharitill2023: 10:05am On May 07, 2019
safarigirl:


My sister's name is Funmilayo, but she's not Yoruba.

Goodluck is not Igbo, he is Ijaw. Receive sense
buharitill2023:
but porn star terrorist nnamdi kanu said bayelsa to benue to adamawa are biafra. And asari said igbos are slaves to ijaw, and he wil kil the porn star if idiotic pigs think otherwise
safarigirl:


My sister's name is Funmilayo, but she's not Yoruba.

Goodluck is not Igbo, he is Ijaw. Receive sense
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by omohayek: 10:20am On May 07, 2019
Reading all the stupid, irrelevant comments here about whether or not Buhari is replacing Emefiele with a northerner or not, it's obvious why Nigeria is destined to remain a stagnant sh*thole for the foreseeable future. Hardly any of you even know what a CBN governor does, let alone that Emefiele is directly responsible for the insane multi-tier FX rate regime that triggered massive capital flight and sank Nigeria into its first recession in 25 years, a recession the economy still hasn't recovered from!

It's not just that Emefiele has overseen so much needless pain and suffering for nearly 200 million people, but that he has done so at the behest of the economic illiterate Buhari, and worse yet, that Emefiele has done so despite being legally guaranteed policy independence for the whole of his tenure - if Emefiele had wanted to, he could simply have ignored Buhari's demands with impunity, and Buhari would have had no constitutional means to remove him from office until the end of his full term. In short, Emefiele sacrificed the economic well being of the entire Nigerian populace on the altar of his own personal ambition, no doubt hoping to obtain a second term in office by doing so, but the vanity of that ambition has been revealed, thanks to Buhari's need for a scapegoat for the lackluster economy under his watch.

As if this story weren't sad enough, now that Emefiele is due to reap what he has sown, tribal defenders leap out of the woodwork to cry about "northerners vs southerners", as if all that matters in governance is which tribal elites get which "juicy" appointments, rather than how people perform when on the job - and the funny thing is that the tribal warriors are also the ones who complain the loudest about the terrible economy under Buhari, even though the Emefiele they rush to defend has been the willing instrument through which Buhari caused his economic damage.

I don't doubt for one minute that Buhari's natural inclination will be to choose a northerner to replace Emefiele, but that is not the right basis upon which to criticize his choice, especially not after 4 years of economic distress: what people should be pushing for is to ensure that the person chosen has a proven record of competence, and can deliver simultaneously on the twin tracks of much lower inflation and much faster economic growth. Sensible people whose lives don't revolve around tribalism might even suggest that the candidate search should go beyond Nigeria's borders, even to bringing in experts from the USA or Europe. This isn't as radical as it might sound, as the current head of the Bank of England is a Canadian, and Israel's central bank was headed for a time by an American.

What Nigeria needs right now is growth, growth on the order of 10% or more, growth fast enough to create vast numbers of private-sector jobs to soak up the millions of new job-seekers who come into the market each year, thanks to Nigeria's uncontrolled population increase. Whether Buhari chooses a "northerner", a "southerner" or even someone from Alpha Centauri only determines who gets one job, but it is the millions of jobs that might then go uncreated we should be thinking about, instead of all this "zoning" rubbish unintelligent Nigerians obsess about.

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Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by Olajah81: 10:25am On May 07, 2019
adedayoa2:
Jonathan is not igbo. grin

Simple English u cannot understand?
Dear, u need mental therapy
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by Olajah81: 10:27am On May 07, 2019
sotall:
Watch as another northern Muslim is appointed

Ur brain is satanic
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by Rolings: 10:42am On May 07, 2019
safarigirl:
a Yoruba man is supposed to be the next governor, not an Hausa man.

Or, is CBN governor only good for Igbo and Hausa people?

It shouldn't be based on tribe or religion but competence. If buhari had removed emefiele igbos would have screamed themselves hoarse but look at the mess he has created, so to me if the most competent is a Hausa man he should be made the governor not minding that your likes will readtrubal and religious meanings to it
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by wesley80(m): 10:58am On May 07, 2019
safarigirl:


Who is the some people?

They are ancestrally Igbo. GEJ is ancestrally Ijaw. Tge Ndokwa and Ika are culturally Igbo, they speak a variance of Igbo, it goes beyond just a name. Ijaw is not a variance of Igbo, they speak a language that is not Igbo, their cultures are different.

It is not the same thing, and someone like you, who is just being mischievous with this topic, will never be able to see the point.

Ika is a recognised ethnic group in Nigeria, and they are listed as a sub-group of Igbos. I doubt Ndokwa is a recognised ethnic group, they can be whatever they want to be. Identity crisis is a thing.

Ndokwa's aren't 'ancestrally' Igbos and while there are cultural and lingual similarities between both ethnic groups that often generate these somewhat 'ignorant' classification, Ndokwa's maintain their distinct identity and aren't by any means conflicted.
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by RTSC: 11:09am On May 07, 2019
seunmsg:


It’s cool for Jonathan to remove a Fulani Sanusi Lamido and replace him with an Igbo Emefiele but a crime for Buhari to replace the same Emefiele with a Northerner. Una hypocrisy ehn!
Of course, the defender of the fulanis.
When buhari conveniently replaced a northerner with northerner, hopeless people like you will claim it is within his right as long as that person is a Nigerian.
When buhari replaces a southerner with a northerner, you will revert back to equality.
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by RTSC: 11:11am On May 07, 2019
omohayek:
Reading all the stupid, irrelevant comments here about whether or not Buhari is replacing Emefiele with a northerner or not, it's obvious why Nigeria is destined to remain a stagnant sh*thole for the foreseeable future. Hardly any of you even know what a CBN governor does, let alone that Emefiele is directly responsible for the insane multi-tier FX rate regime that triggered massive capital flight and sank Nigeria into its first recession in 25 years, a recession the economy still hasn't recovered from!

It's not just that Emefiele has overseen so much needless pain and suffering for nearly 200 million people, but that he has done so at the behest of the economic illiterate Buhari, and worse yet, that Emefiele has done so despite being legally guaranteed policy independence for the whole of his tenure - if Emefiele had wanted to, he could simply have ignored Buhari's demands with impunity, and Buhari would have had no constitutional means to remove him from office until the end of his full term. In short, Emefiele sacrificed the economic well being of the entire Nigerian populace on the altar of his own personal ambition, no doubt hoping to obtain a second term in office by doing so, but the vanity of that ambition has been revealed, thanks to Buhari's need for a scapegoat for the lackluster economy under his watch.

As if this story weren't sad enough, now that Emefiele is due to reap what he has sown, tribal defenders leap out of the woodwork to cry about "northerners vs southerners", as if all that matters in governance is which tribal elites get which "juicy" appointments, rather than how people perform when on the job - and the funny thing is that the tribal warriors are also the ones who complain the loudest about the terrible economy under Buhari, even though the Emefiele they rush to defend has been the willing instrument through which Buhari caused his economic damage.

I don't doubt for one minute that Buhari's natural inclination will be to choose a northerner to replace Emefiele, but that is not the right basis upon which to criticize his choice, especially not after 4 years of economic distress: what people should be pushing for is to ensure that the person chosen has a proven record of competence, and can deliver simultaneously on the twin tracks of much lower inflation and much faster economic growth. Sensible people whose lives don't revolve around tribalism might even suggest that the candidate search should go beyond Nigeria's borders, even to bringing in experts from the USA or Europe. This isn't as radical as it might sound, as the current head of the Bank of England is a Canadian, and Israel's central bank was headed for a time by an American.

What Nigeria needs right now is growth, growth on the order of 10% or more, growth fast enough to create vast numbers of private-sector jobs to soak up the millions of new job-seekers who come into the market each year, thanks to Nigeria's uncontrolled population increase. Whether Buhari chooses a "northerner", a "southerner" or even someone from Alpha Centauri only determines who gets one job, but it is the millions of jobs that might then go uncreated we should be thinking about, instead of all this "zoning" rubbish unintelligent Nigerians obsess about.
And you actually trust buhari to bring somebody better?
How many of his ministers are better than emefiele?

A president whose priority is ethnic before competence.
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by einsteine(m): 11:18am On May 07, 2019
sotall:
Watch as another northern Muslim is appointed

Who should be appointed?

The last leader to appoint a CBN governor not from his region (that is, south or north) is Abacha.

It is not about the ethnicity but about the capability. They should appoint an economist this time. The bankers have done a terrible job.
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by einsteine(m): 11:21am On May 07, 2019
omohayek:
Reading all the stupid, irrelevant comments here about whether or not Buhari is replacing Emefiele with a northerner or not, it's obvious why Nigeria is destined to remain a stagnant sh*thole for the foreseeable future. Hardly any of you even know what a CBN governor does, let alone that Emefiele is directly responsible for the insane multi-tier FX rate regime that triggered massive capital flight and sank Nigeria into its first recession in 25 years, a recession the economy still hasn't recovered from!

It's not just that Emefiele has overseen so much needless pain and suffering for nearly 200 million people, but that he has done so at the behest of the economic illiterate Buhari, and worse yet, that Emefiele has done so despite being legally guaranteed policy independence for the whole of his tenure - if Emefiele had wanted to, he could simply have ignored Buhari's demands with impunity, and Buhari would have had no constitutional means to remove him from office until the end of his full term. In short, Emefiele sacrificed the economic well being of the entire Nigerian populace on the altar of his own personal ambition, no doubt hoping to obtain a second term in office by doing so, but the vanity of that ambition has been revealed, thanks to Buhari's need for a scapegoat for the lackluster economy under his watch.

As if this story weren't sad enough, now that Emefiele is due to reap what he has sown, tribal defenders leap out of the woodwork to cry about "northerners vs southerners", as if all that matters in governance is which tribal elites get which "juicy" appointments, rather than how people perform when on the job - and the funny thing is that the tribal warriors are also the ones who complain the loudest about the terrible economy under Buhari, even though the Emefiele they rush to defend has been the willing instrument through which Buhari caused his economic damage.

I don't doubt for one minute that Buhari's natural inclination will be to choose a northerner to replace Emefiele, but that is not the right basis upon which to criticize his choice, especially not after 4 years of economic distress: what people should be pushing for is to ensure that the person chosen has a proven record of competence, and can deliver simultaneously on the twin tracks of much lower inflation and much faster economic growth. Sensible people whose lives don't revolve around tribalism might even suggest that the candidate search should go beyond Nigeria's borders, even to bringing in experts from the USA or Europe. This isn't as radical as it might sound, as the current head of the Bank of England is a Canadian, and Israel's central bank was headed for a time by an American.

What Nigeria needs right now is growth, growth on the order of 10% or more, growth fast enough to create vast numbers of private-sector jobs to soak up the millions of new job-seekers who come into the market each year, thanks to Nigeria's uncontrolled population increase. Whether Buhari chooses a "northerner", a "southerner" or even someone from Alpha Centauri only determines who gets one job, but it is the millions of jobs that might then go uncreated we should be thinking about, instead of all this "zoning" rubbish unintelligent Nigerians obsess about.



Too long a post. I didn't hear you talk about Adeosun or Buhari.

Emefiele was working based on orders from Buhari. Buhari is also the one who appointed an auditor to run the economy rather than a seasoned policy maker or economist.

Buhari's first coming led to a recession. He asked Emefiele to implement similar philosophy (Buharinomics, google it) and it caused a recession.

When Emefiele is replaced, it would be same sh1t, different day.

If you want to apportion blame in your wall of text, direct it to the right person: Buhari.

1 Like

Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by einsteine(m): 11:22am On May 07, 2019
safarigirl:


Who is the some people?

They are ancestrally Igbo. GEJ is ancestrally Ijaw. Tge Ndokwa and Ika are culturally Igbo, they speak a variance of Igbo, it goes beyond just a name. Ijaw is not a variance of Igbo, they speak a language that is not Igbo, their cultures are different.

It is not the same thing, and someone like you, who is just being mischievous with this topic, will never be able to see the point.

Ika is a recognised ethnic group in Nigeria, and they are listed as a sub-group of Igbos. I doubt Ndokwa is a recognised ethnic group, they can be whatever they want to be. Identity crisis is a thing.

Neither Ndokwa or Ika is a sub-group of Igbo.

They are both gazetted as seperate ethnic groups.

Thanks.

1 Like

Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by Nobody: 11:24am On May 07, 2019
the mallos are taking over.
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by omohayek: 11:35am On May 07, 2019
einsteine:

Too long a post. I didn't hear you talk about Adeosun or Buhari.

Emefiele was working based on orders from Buhari. Buhari is also the one who appointed an auditor to run the economy rather than a seasoned policy maker or economist.

Buhari's first coming led to a recession. He asked Emefiele to implement similar philosophy (Buharinomics, google it) and it caused a recession.

When Emefiele is replaced, it would be same sh1t, different day.

If you want to apportion blame in your wall of text, direct it to the right person: Buhari.
And here we have a textbook example of a tribalist who has no clue about economics, yet leaps to the defense of a perceived "kinsman" who doesn't even know he exists. Tell me, did Adeosun have any influence on FX policy? And if you weren't as lazy as you've admitted to being, you'd have seen that I already said Emefiele's fault was in willingly carrying out Buhari's orders, even though the independence of the CBN is statutorily guaranteed. Keep on defending an incompetent "kinsman" whose misguided policies have wrecked so much damage on the businesses of so many other of your "kinsmen".

1 Like

Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by omohayek: 11:40am On May 07, 2019
RTSC:

And you actually trust buhari to bring somebody better?
How many of his ministers are better than emefiele?

A president whose priority is ethnic before competence.
No, I don't trust Buhari to bring somebody better, and I even said so in my original post. My point is that simply making it a "northerner vs southerner" issue takes attention away from where it should be, namely whether the candidate has the necessary skills, character and experience to slay inflation while boosting the country's growth rate: if all that matters is "north vs south" and "juicy" appointments where one can hand out jobs and inflated contracts to friends and family, then northerners can make just as loud a claim for their "turn" as southerners, but there is a lot more at stake here than such nonsense, and unless the masses start to ask about these larger issues, Buhari will feel no pressure to set aside petty tribalism for merit.

1 Like

Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by einsteine(m): 11:50am On May 07, 2019
omohayek:

And here we have a textbook example of a tribalist who has no clue about economics, yet leaps to the defense of a perceived "kinsman" who doesn't even know he exists. Tell me, did Adeosun have any influence on FX policy? And if you weren't as lazy as you've admitted to being, you'd have seen that I already said Emefiele's fault was in willingly carrying out Buhari's orders, even though the independence of the CBN is statutorily guaranteed. Keep on defending an incompetent "kinsman" whose misguided policies have wrecked so much damage on the businesses of so many other of your "kinsmen".

Don't be foolish. where did I say Emefiele was my kinsman? Don't project your insecurity on others. If you had seen my previous post on this issue, you would have known that I stated that ethnicity is irrelevant here afterall it's the tradition for Northern leaders to appoint Northern CBN governors. by the way, I can see you had a heatstroke because you heard Adeosun. Perhaps you are the one defending your kinswoman? Is FX policy the only part of managing an economy? Score Adeosun out of ten on Fiscal policy. She would have been better suited for Udo Udoma's job not the position of Finance minister. She and Emefiele presided over a failed economy all in the bid to follow the poor economic policy of their master at Aso Rock.

very funny @ the bolded. I have published economics papers. Have you?

1 Like

Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by omohayek: 12:27pm On May 07, 2019
einsteine:


Don't be foolish. where did I say Emefiele was my kinsman? Don't project your insecurity on others.
You didn't have to explicitly say anything, as your insistence on bringing Adeosun into a discussion of Emefiele's tenure said plenty on its own. Since when has deducing the obvious been a mark of "insecurity"? "Insecurity" would be me jumping from post to post mentioning irrelevant Igbo politicians and bureaucrats in discussions of prominent Yorubas, which is something I have never ever done. I don't believe in standing behind knaves and incompetents just because they're my "kinsmen" or whatever.
If you had seen my previous post on this issue, you would have known that I stated that ethnicity is irrelevant here afterall it's the tradition for Northern leaders to appoint Northern CBN governors. by the way, I can see you had a heatstroke because you heard Adeosun. Perhaps you are the one defending your kinswoman?
Please tell me the relevance of Adeosun to the ridiculous multi-tier exchange rate regime, and then maybe I'll take you seriously. I'm yet to see any worthwhile analysis of the Nigerian economy that doesn't target this and the ridiculously inflated MTN fine as the root causes of Nigeria's economic nosedive.

Is FX policy the only part of managing an economy? Score Adeosun out of ten on Fiscal policy. She would have been better suited for Udo Udoma's job not the position of Finance minister. She and Emefiele presided over a failed economy all in the bid to follow the poor economic policy of their master at Aso Rock.
To begin with, Adeosun has been out of the job for over a year, while Emefiele is still on the job doing damage, and as far as I can see there haven't been any calls for Adeosun to get her job back. In addition, Adeosun was by far the least powerful occupant of her position in a very long while, doing little more than syndicating foreign loans, and she had no meaningful role in drawing up budgets. Given such facts, what point is there in dragging her into the discussion, if not to derail it with yet more tribalism in the form of a "tu quoque" fallacy.

very funny @ the bolded. I have published economics papers. Have you?
Anyone can claim anything on the internet under the cloak of anonymity. If I say I am actually the King of Belgium, who are you to correct me? Besides, the world has no shortage of predatory journals willing to publish any old rubbish for a fee, so don't expect me to be impressed by such a vacuous statement. Somehow I doubt you're being published in journals like the Quarterly Journal of Economics, Journal of Political Economy or American Economic Review. Your arguments will have to stand on their own instead of leaning on an authority based only on your say so.

1 Like

Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by Salebo: 12:27pm On May 07, 2019
Hector09:
He should be grateful that he finish his tenure and buhari did nt remove him as usual, a northerner must surely take over
Emefiele that is there,is he not a southerner
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by Salebo: 12:30pm On May 07, 2019
KubwaBoy:
He is not a Fulani man na......... Am expecting a Hausa/Fulani man to come and replace him
And a Fulani man replaced Sanusi
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by Salebo: 12:35pm On May 07, 2019
VULCAN:
This was to be expected.

Buhari does not even pretend that he believes other tribes should hold sensitive postions

An Hausa Fulani will replace him for sure

Not even a hope for the Yoruba despite their overqualified candidates.

Join me in telling the Yoruba that supported Buhari that they should take heart.

Osinbajo as VP is all that Buhari will concede to them. He needed their votes and they are not worth anything else to him

Keep sounding MOHRONIC!!!
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by einsteine(m): 12:38pm On May 07, 2019
omohayek:

You didn't have to explicitly say anything, as your insistence on bringing Adeosun into a discussion of Emefiele's tenure said plenty on its own. Since when has deducing the obvious been a mark of "insecurity"? "Insecurity" would be me jumping from post to post mentioning irrelevant Igbo politicians and bureaucrats in discussions of prominent Yorubas, which is something I have never ever done. I don't believe in standing behind knaves and incompetents just because they're my "kinsmen" or whatever.

Please tell me the relevance of Adeosun to the ridiculous multi-tier exchange rate regime, and then maybe I'll take you seriously. I'm yet to see any worthwhile analysis of the Nigerian economy that doesn't target this and the ridiculously inflated MTN fine as the root causes of Nigeria's economic nosedive.

To begin with, Adeosun has been out of the job for over a year, while Emefiele is still on the job doing damage, and as far as I can see there haven't been any calls for Adeosun to get her job back. In addition, Adeosun was by far the least powerful occupant of her position in a very long while, doing little more than syndicating foreign loans, and she had no meaningful role in drawing up budgets. Given such facts, what point is there in dragging her into the discussion, if not to derail it with yet more tribalism in the form of a "tu quoque" fallacy.

Anyone can claim anything on the internet under the cloak of anonymity. If I say I am actually the King of Belgium, who are you to correct me? Besides, the world has no shortage of predatory journals willing to publish any old rubbish for a fee, so don't expect me to be impressed by such a vacuous statement. Somehow I doubt you're being published in journals like the Quarterly Journal of Economics, Journal of Political Economy or American Economic Review. Your arguments will have to stand on their own instead of leaning on an authority based only on your say so.



Keep mentioning tribalism like an incantation. If you jump to conclusions like this, then I am sure you are a poor analyst.

Check my very first post on this thread. I was telling someone that competence not ethnicity is what matters for the role.

But of course you wish to believe I am thinking the same way you and your fellow Nigerians think. You heard Adeosun and immediately leaped to the defence of someone from your "tribe". Yet you are the one calling me a tribalist.

1 Like

Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by suremanpatriot: 12:53pm On May 07, 2019
let him put anoda mallam their as usual,our time is near wil do same angry
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by ledamaster(m): 1:08pm On May 07, 2019
Mace0lane:
PDP supporters on NL will argue Emefiele is doing a good job but naira keeps going down. They also want Buhari to give him a second term n I asked them are they okay with naira continued downward trend ? Will they not wail if it persists ?!

If the answers is yes Buhari should give him automatic second tenure but if not make the man leave road for person wey sabi even if another Igbo, this one Na colossal failure that must not be repeated except God wan punish Buhari.

Hardship pervade the entirety of the land to the extent those who voted change started wailing all due to the pathetic dull in fact worse cbn governor witnessed in my lifetime.



Anyone is beta than the dullard heading CBN now that idiot no sabi anything about monetary policies.


the fact that you try to blame the damaging of the economy on the CBN governor and not the Dullard of a president and kemi Adeosun is a pointer of just how clueless and idiotic you are.
So its emefeles job to steady an economy Buhari is traveling all over the place to demarket? GTFOH woth that stupid talk of ypurs. A zombie can never be sensable not even for. Second. Am no fan of Emelefe, but as far as am concern the man is amongst the few performing Official pf thos government.
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by adedayoa2(f): 4:39pm On May 07, 2019
Olajah81:


Simple English u cannot understand?
Dear, u need mental therapy
you dey craze o, na you I quote?
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by Olajah81: 5:41pm On May 07, 2019
adedayoa2:
you dey craze o, na you I quote?

Iranu
Continue ur wacko-jacko in foolishness
Omo ofo
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by adedayoa2(f): 6:23pm On May 07, 2019
Olajah81:


Iranu
Continue ur wacko-jacko in foolishness
Omo ofo
same to you
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by Xander85: 6:25pm On May 07, 2019
Upon all the arsse kissing! sad
Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by omohayek: 6:46pm On May 07, 2019
einsteine:

But of course you wish to believe I am thinking the same way you and your fellow Nigerians think. You heard Adeosun and immediately leaped to the defence of someone from your "tribe". Yet you are the one calling me a tribalist.
Again you go in for rabid projection: tell me again, of what relevance is Adeosun to a discussion of Emefiele's tenure? Are you going to deny any of the following points?

1. Kemi Adeosun currently holds no office in Nigeria, and hasn't done so for a year now. In addition, she has no independent political base of her own, and can exert zero influence over any decision-making in Abuja.

2. Even when Adeosun did hold office, she served entirely at the pleasure of Buhari, without the statutory independence Emefiele enjoys. Unlike the spineless, incompetent CBN governor, she didn't have the luxury of second-guessing Buhari even when she doubted the wisdom of his dictates.

3. Adeosun had next to no influence on budgetary decision-making, and primarily concerned herself with things like international bond issuance and tracking of fund dispersals (e.g. the crackdown on "ghost workers", and forcing NNPC to publish monthly reports). This article does a pretty good job of detailing precisely what Adeosun's responsibilities were, and it should be glaringly obvious that establishing how much to allocate to whom was not on the list.

4. As several independent, international observers have noted, from Bloomberg, to Reuters, to The Economist, to The Brookings Institute, and many more besides, the blame for Nigeria's severe economic recession does not owe to the Buhari government's fiscal policies as such (which in any case Adeosun never had much say over), but to the capital flight stemming from the combination of (i) an opaque exchange-rate regime, (ii) ill-considered, arbitrary bans on imports, (iii) new restrictions on investors ability to repatriate their earnings, and (iv) the strongly negative signals sent by the insane $8.2 billion fine imposed on MTN. How exactly was Adeosun involved in any of these decisions?

Unless you can provide credible answers to all of the above, preferably backed by high-quality references, I will continue to call you what you by all accounts appear to be: just another "leave our son alone" tribal warrior who decided to draw an irrelevant Kemi Adeosun into the debate for the sake of turning it into a pointless jamboree of "whataboutism". I don't personally give a damn about Adeosun either way, and would never have picked her for the post of Finance Minister myself, just as I don't care what happens to Saraki, Melaye, Ajimobi, Fayose or any number of other Yoruba politicians who have embarrassed themselves in office; where non-Yoruba ministers have done good work, I have never been hesitant to give them credit, from Ngozi Okonjo-Iweala (who I have defended on this forum numerous times) to Charles Soludo, What I can't stand is the sort of intellectual dishonesty exemplified by people like you, whose pretence to expertise makes all the more unjustifiable their attempt to muddy the waters with tribalistic nonsense, all in the defense of a self-serving incompetent who has single-handedly done more to destroy Igbo businesses than anyone else in the last 30 years.

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Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by grandstar(m): 7:34pm On May 07, 2019
omohayek:

Again you go in for rabid projection: tell me again, of what relevance is Adeosun to a discussion of Emefiele's tenure? Are you going to deny any of the following points?

1. Kemi Adeosun currently holds no office in Nigeria, and hasn't done so for a year now. In addition, she has no independent political base of her own, and can exert zero influence over any decision-making in Abuja.

2. Even when Adeosun did hold office, she served entirely at the pleasure of Buhari, without the statutory independence Emefiele enjoys. Unlike the spineless, incompetent CBN governor, she didn't have the luxury of second-guessing Buhari even when she doubted the wisdom of his dictates.

3. Adeosun had next to no influence on budgetary decision-making, and primarily concerned herself with things like international bond issuance and tracking of fund dispersals (e.g. the crackdown on "ghost workers", and forcing NNPC to publish monthly reports). This article does a pretty good job of detailing precisely what Adeosun's responsibilities were, and it should be glaringly obvious that establishing how much to allocate to whom was not on the list.

4. As several independent, international observers have noted, from Bloomberg, to Reuters, to The Economist, to The Brookings Institute, and many more besides, the blame for Nigeria's severe economic recession does not owe to the Buhari government's fiscal policies as such (which in any case Adeosun never had much say over), but to the capital flight stemming from the combination of (i) an opaque exchange-rate regime, (ii) ill-considered, arbitrary bans on imports, (iii) new restrictions on investors ability to repatriate their earnings, and (iv) the strongly negative signals sent by the insane $8.2 billion fine imposed on MTN. How exactly was Adeosun involved in any of these decisions?

Unless you can provide credible answers to all of the above, preferably backed by high-quality references, I will continue to call you what you by all accounts appear to be: just another "leave our son alone" tribal warrior who decided to draw an irrelevant Kemi Adeosun into the debate for the sake of turning it into a pointless jamboree of "whataboutism". I don't personally give a damn about Adeosun either way, and would never have picked her for the post of Finance Minister myself, just as I don't care what happens to Saraki, Melaye, Ajimobi, Fayose or any number of other Yoruba politicians who have embarrassed themselves in office; where non-Yoruba ministers have done good work, I have never been hesitant to give them credit, from Ngozi Okonjo-Iweala (who I have defended on this forum numerous times) to Charles Soludo, What I can't stand is the sort of intellectual dishonesty exemplified by people like you, whose pretence to expertise makes all the more unjustifiable their attempt to muddy the waters with tribalistic nonsense, all in the defense of a self-serving incompetent who has single-handedly done more to destroy Igbo businesses than anyone else in the last 30 years.

If Nigerians were Americans, they would say, "Buhari, go home and take Emefiele with you!"

The best man for Buhari would have been his fellow Fulani, Lamido Sanusi who would have asserted his independence rather than kowtow to the president's whims. This was a man who introduced the cashless policy despite the fact that a vast majority of Hausa and Fulani are uneducated!

How can the president dictate to you to ban cash dollar deposits into domiciliary accounts? It was a nightmare. It's a disgrace

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Re: CBN: Emefiele Ruled Out For Second Term, Failed To Get Buhari’s Endorsement by grandstar(m): 8:01pm On May 07, 2019
datola:


Really?

Yes, he is guilty, very guilty.

Buhari despite his integrity is basically an economic illiterate. Integrity does not bestow on you economic wizardry.

Upon Buhari's assumption of office, the president banned cash deposits into dorm accounts in an amateurish attempt to fight corruption.

Emefiele should have asserted the CBN's semi-autonomy and should have refused to apply it but he went ahead with it.

Central Banks are given given full independence in many developed countries and in others semi autonomy in order to prevent political meddling. He refused to assert that autonomy.

Also, Buhari also pegged the Naira upon assumption of office at 197 to a $1. This was the height of economic illiteracy. Emefiele should have refused to follow through but still implemented it which within 2 quarters plunged the economy into a very serious recession lasting 6 quarters.

The pegging led to severe forex scarcity thereby making it unable for companies to import raw materials, machinery and other goods. This led to the closure of so many companies and the sack of so many workers. This subsequently led to a recession

It is reported that the CBN is lending money to the government. This is taboo.

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