Public Debate: I’ve No Time For Soludo – Aganga - Politics (2) - Nairaland
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| Re: Public Debate: I’ve No Time For Soludo – Aganga by DisGuy: 1:59pm On Feb 01, 2011 |
Frank-C: business dont expand just because its fashionable, and honestly do you really think all tehse banks investing in other countries are gaining anything apart from the 'international' tag, some banks already closed their operations in West Africa and their operations in UK is just for show! I really don't get your point about banks having a branch in Gambia or Uganda being some sort of 'foreign investment' |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by Kx: 2:08pm On Feb 01, 2011 |
Until u read soludos response on This Day of 31st January 2010, u wont believe that trully, Aganga is riding on the wind of foreign certificate with no home grown recipes to naija's eco woes. He drew the first blood and now that soludo has placed him where he rightly belongs with irrefutables/verifiable facts and figures, Aganga has chickened out. Am afraid we have yet another square peg in a round hole in Aganga. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by Ibime(m): 2:10pm On Feb 01, 2011 |
@ Dis Guy, Soludo attracted a lot of FDI into Nigeria simply by limiting risk of bank failure. At consolidation, FDI was around $1 billion per annum, but after consolidation, it immediately shot up by 100% compounded annually as Foreigners and Nigerians abroad brought hot money flows in Nigeria to profit from interest rate arbitrage, hinged on a constant Naira-dollar exchange rate. However, this FDI increase which was built on the perception of the infallibility of the banks, was also burst in 2009 when it became clear that these banks were not as safe as first thought due to massive corruption. Soludo thus did great things in the sector, but failure to regulate undid a lot (but not all) of his work. In that sense, I see Soludo as the Nigerian version of Greenspan, and funny enough, Soludo sees himself as the Nigerian Greenspan as he identified himself with, and empathised with Greenspan in his last riposte to Aganga. From an economic standpoint, Soludo did great things, but he did not align his knowledge with moral integrity. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by nduchucks: 2:16pm On Feb 01, 2011 |
Ibime: GBAM!!! I will not be surprised if, given Soludo's support for Atiku, the EFCC has been unleashed on him, enabling Soludo to make a preemptive strike of his own - He can now cry witchhunt and revenge if EFCC raises any issue of his alleged criminal activities. Frankly the man belongs in jail along with Madam Ibru and Bode George. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by FrankC3: 2:19pm On Feb 01, 2011 |
Dis Guy: Ok, so you mean that expansion of our local businesses to other countries is not good for our economy? You need to find out how much countries like China do to have their Huawei or ZTE do to expand and establish in a place like Nigeria. Shell, Chevron, Standard Chattered Bank, Procter and Gamble and many others are non Nigerian coys doing business here. Is that a plus or a minus for their local countries? What about MTN? Look, lets just not blur our judgment with sentiments. Soludo achieved far more than Sanusi and Aganga combined can achieve in 10 years at the pace they are going. Soludo gave Sanusi a bank to regulate. If bad loans are rats and banks houses, he converted the houses from huts to mansions that can accommodate bigger and more rats. That is my point. But to wave aside everything that Soludo achieved because you want to recognize Sanusi's job at stronger regulation is not just acceptable. Anyway, you don't have to agree with me, but this is what i believe. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by Kennyblues(m): 2:20pm On Feb 01, 2011 |
Not holding brief for Soludo though, Aganga has over the time shown ineptitude and incompetency in the discharge of his duty going by his role in the resignation of the then minister of state for finance, Remi Babalola who held the bull by the horn by telling whoever cared to listen that NNPC was insolvent. Aganga countered him by saying otherwise. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by FrankC3: 2:28pm On Feb 01, 2011 |
ndu_chucks: Morality?? Are you even aware that there is no word like that in global economic maneuvers? Are you aware that China manipulates her currency? Is that moral? What about the war in Iraq? or the sanctions against Zimbabwe? Please, if you want to discuss policies and their impact on the polity, better do so and don't even mention morality again. I would rather prefer 'legal' or 'regulations' to 'moral'. And people don't just go to jail because you think they should. They go to jail when they are convicted. And Soludo attacked GEJ's government who has the means to investigate and jail him on the grounds of any of your imagined crimes if found guilty, but why have they not done that? Does it mean that somebody is not doing his job well? |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by nduchucks: 2:35pm On Feb 01, 2011 |
Frank-C: I'm afraid you may have an issue with comprehension or you are ignorant of Soludo's alleged extra curricular activities. What I am talking about are allegations of criminally fraudulent activities of Soludo's. Go and read up, pal, I don't have much time to educate you on this. olodo In the Maintime Read This And This |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by calyx: 2:42pm On Feb 01, 2011 |
Dis Guy: Are you serious? This contribution is completely bigoted. . .okay at best ignorant! ALL we have heard is shouts of people who have stolen billions and billions and billions and yet all we see is Cecilia Ibru who was committed to six months jail because she approved credits above her limits and instead of serving her 5-year jail term as applicable for the crime, her family opted for a plea bargain, giving up about N191 bn worth of assets so she can serve only 6 months in Jail. . .the 6 months she ended up serving in her house. Would this be all there is to do with the time of a CBN governor? Pray what is an achievement? So the new one is that Ideas-lacking cronies are now claiming that a mere lull in the economy in now a new heights. Show me Nigeria of our dreams. . . |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by DisGuy: 3:02pm On Feb 01, 2011 |
Ibime: Thank you, I have never criticised Soludo of anything but HIS FAILURE to regulate the banks properly and perhaps his closeness to their CEOs so all these talk of expansion into other countries without conquering its own environment first is flashy in my opinion calyx, i'm not a bigot thank you very much Soludo didn't do the basic that's my point and the basics is to regulate the banks before the obscene marketing he lead, its easy to be called an expert during a boom |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by FrankC3: 3:05pm On Feb 01, 2011 |
ndu_chucks: You should be showing those to GEJ, Aganga, Sanusi, EFCC and ICPC. It is their job and not mine to use them. If Soludo corruptly enriched himself, then it is the job of the authorities to try him in a competent court and possibly jail him if found guilty, and even take credit for fighting corruption. But if they have not done that, rather what we have is the same 'corrupt' guy accusing the authorities of incompetence and they seem so helpless. What are the findings of the British investigators or their Nigerian counterparts? That is my point. Or is somebody just doing those articles to score cheap political points. Let Waziri of EFCC and Aganga have a look at your links. It may help their case now, unless the accusations therein are false. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by FrankC3: 3:10pm On Feb 01, 2011 |
@ndu_chucks And it seem you did not read your links very well. these are the last few paragraphs: When Charles Soludo pledged two years ago to eliminate the disparity between the official and parallel exchange rate of the Naira, part of his solution was further liberalisation of the foreign exchange on March 27, 2006 as the parallel market diverged significantly from the official rate (151- 1$). He: Brought Bureaux de change into the official foreign exchange market as brokers Decentralised the sale of foreign exchange to BDCs to allow branches of the CBN sell directly to BDCs within their areas of operation Liberalised the credit market, made it possible for one to use his overseas property as collateral thereby making the acquisition of foreign currency and credit facilities easier. Liberalised the transfer and importation of foreign exchange and made it possible for one to simply walk into his nearest bank and buy foreign exchange. These measures were lampooned by some “experts”. I particularly read one highly critical article in a Nigerian daily, “CBN should stop this madness”! I was bought over – being a layman myself - by the economic arguments carefully marshalled against Soludo’s idea. Today, the cumulative effect of these and other measures are very clear for all to see. The dollar has been stabilised at 126 - $. Soludo was correct when he said, “the nation is in a state of urgency and in haste as she cannot afford gradualism toward the economic development of the country, you cannot afford to get to the sky, you cannot afford to get to the moon and yet be afraid of something like an aeroplane. If we are going to be one of the 20 largest economies in the world by 2020 then we need definitive actions. Part of the FSS 2020 is that we must dare to be; we must dare to do it. The Nigerian people should not be afraid of changes; changes that would be required might be so dramatic that they may have difficulty with. The country needed the kind of revolution that took place in the banking system to also take place in all other sectors of Nigerian economy in order to meet up with developed countries of the world”. Unfortunately this opportunity has been lost, perhaps forever. Those that loved Nigeria and were happy to see the back of Olusegun Obasanjo had hoped that the present leadership, being but offspring of the former, would jettison the former regimes irritable traits but embrace its finest policies and the personnel that propelled them. The likes of Nuhu Ribadu, Charles Soludo, Dora Akunyili, El Rufai even Ngozi Okonjo Iwealla would have brought the present administration enormous goodwill. Nigerians are surprised at the haste with which the hawks and ethnic irredentist are pushing Yar’Adua to jettison all the vestiges of the old order. The saddest aspect of it all is that they strain out the Gnat, but gulp down the Camel! Instead of going after the bad persona which is the problem, they are going after the good guys. Source: http://www.nigeriavillagesquare.com/articles/danny-elombah/nigeria-should-have-tried-soludos-solution.html @Dis Guy Maybe, China have to straighten her human rights records before demanding a space in Ghanaian Oil and gas industry. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by calyx: 3:27pm On Feb 01, 2011 |
Dis Guy: I withdraw the use of that word. . .I hope you understand I was just trying to make a valid point |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by doyin13(m): 3:41pm On Feb 01, 2011 |
I am still sceptical about the touted successes of the Soludo era. . . As events have unfolded after the global crisis, it would seem Clarus or Girigori wearing a TM Lewin shirt and a dapper suit could have run the finances of this country and money would still have poured in. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by ladi02(m): 3:44pm On Feb 01, 2011 |
gogo13233: Gbam, well informed individual!. .let the rest keep ranting RUBBISH!. .the guy is putting the future of Nigeria at stake |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by Jarus(m): 5:52pm On Feb 01, 2011 |
I must admit I have also not been so impressed with Aganga. I expected more from him given his much-talked-about background and experience. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by KnowAll(m): 6:29pm On Feb 01, 2011 |
I can remember dat frank-c advising every one on shares to buy, frank-c has finally given up dat role obviously like millions of Nigerians out of pocket. Instead of this gentleman if I am allowed to call him so, to face & help crucify dat son-of-b-it-ch called Soludo, he his still supporting him publicly. Mr man stop your foolishness you & I know u have lost money, I actually came-out to let d whole world know my feelings by posting a " a thread my N2 million investment has being reduced to toilet paper" I would want to believe supporting Soludo is your own coping mechanism u would not be d first to go down dat way, many has gone mad becos of dat worthless toilet paper called shares and many has actually gone ahead & use for it for it's new porpose saving themseleves d aggro of actually buying a toilet roll. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by Afam4eva(m): 6:41pm On Feb 01, 2011 |
It's either Aganga is lazy or simply a liar. How can you call someone a thief on National TV and after the person responds to your allegation with facts and figures and challenges you to a debate you're telling him that you have no time. Referring Soludo to investors, “who lost so much money in the capital market.” Why didn't he leave it to investors when he came out criticizing Soludo. I respect Soludo for one thing. Coming out to put Aganga and his critics to shame. A thief would not do that. Now Aganga or oxford or whatever his name is has proven without reasonable that he should be thrown in Jail. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by RoadStar: 7:55pm On Feb 01, 2011 |
With Soludo openly critisizing the present administration on economic policies, I doubt if the guy has any skeleton in his cupboard. If he did they would have at least gone after him or exposed him by now . |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by rebranded(m): 8:18pm On Feb 01, 2011 |
afam4eva: I will go with both, i have been saying this barely few months after he became Minister of finance, but the Goldman sachs experience got everyone feel otherwise. .his days are numbered in govt. . |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by hbrednic: 10:18pm On Feb 01, 2011 |
what will be the purpose of the debate  to show nigerians who is a better economics Soludos call for a debate is too childish |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by Obiagu1(m): 10:31pm On Feb 01, 2011 |
RoadStar: |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by SPIDER90: 10:48pm On Feb 01, 2011 |
Moral of the story! Prof. Soludo, thank you, we all can see now that foreign certificate is not superior to the one obtained at home. Moreover one of the reasons that some send their wards abroad is inability to meet JAMB cut-off. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by Metalgoong(m): 11:02pm On Feb 01, 2011 |
hbrednic: It is obvious that Nigerians are confused animals who don't know exactly what they want. . . . Imagine,a citizen who doesn't know the essence of a public debate. @OP hahahahaha , . Soludo, the econometrics professor just took Aganga and his inept ministry to the cleaners. . . . . By now , Aganga should have discovered that managing Nigerian economy is not the same thing as managing a hedge fund in Goldman Sachs. . . He just made a wise decision by declining Soludo's request for a public debate. .  |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by DONKEN2(m): 11:51pm On Feb 01, 2011 |
the minister of finance and the gorvnor of central bank lamido are the worst things to have happened to Nigeria and Nigerians ,i kw one day soludo will say it out , under this Cbn governor jobs where lost more than all the Cbn governor combined since independenCe ,highset rate of unemployment ever since independence , our foreign reserve depleted to a record low inspite of high oil prices ,this man also told the whole world that our banks are dead and still beg foreign investors to come and take over our banks , what is even the parameter to judge performance if not the effect it will have on the common man on the street ,I don't understand it when I see people singing lamido praise , that man is a disaster , i kw by the time this two slowpoke finishes there tenure Nigeria will be in a mess ,i wonder why GEJ CANNOT SEE THIS , infact lamido should resign , good ridden to bad rubbish NONSENSE !!!!!!!!!!!! |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by mbulela: 12:16am On Feb 02, 2011 |
Ibime: this discussion ended a long time ago with the comment above. another bottle of Grand lager for you.  |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by andyprez(m): 12:47am On Feb 02, 2011 |
applauds to frank-c. I enjoy people with such intellects. As for Aganga, u don't insinuate that someone is a thief and expect the person to do nothing about it especially when the person's reputation is at stake. Stop hiding under the cloak of ''doing your job'' or better still, dont start what you can't finish. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by segunjowo(m): 7:54am On Feb 02, 2011 |
Kx:So u believe all u read in the dailies? |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by ifeci: 8:20am On Feb 02, 2011 |
the best way not to lose big in a big fight is to to accept defeat and chicken out early in the Game and that's what Aganga has stylishly done with his reply. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by swoosh(m): 8:55am On Feb 02, 2011 |
@fstranger1 You refer to Sanusi as "an ordinary mallam" and insinuate that an Oxford Grad (Aganga) will always be better than a 'lowly Uniben grad' (soludo)- this is simply myopic. You must not forget that Sanusi has been recognized globally for excellence and that soludo is widely travelled and has consulted for very many international organizations. In my opinion, Aganga has not done anything to justify his oxford certificate. Beeing previledged to attend international schools does not make you automatically intelligent- we have Nigerian graduates that do much better |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by sholasys: 9:15am On Feb 02, 2011 |
All of you that have contributed on this topic have done wonderfully well, very analytical. Nigeria will be great. |
| Re: Public Debate: I’ve No Time For Soludo – Aganga by rhymz(m): 9:45am On Feb 02, 2011 |
Aganga is all hype! Soludo will will piss on him if he dares it. Forget the big name and cert, Aganga has not been impressive at all, his performance so far has been very very disapointing. |
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