9jaRealist's Posts
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LegendHero:Without prejudice, when exactly did the bill pass through the National Assembly?! ![]() Anyway, from the few details currently available (which is why the full legislative process is essential to enable input from all stakeholders), I fear that this might turn out to be yet another federal pork-barrel boondoggle poorly administered by a likely bloated bureaucratic agency. The government should’ve empowered the banks to develop and directly administer single-digit students loans, ultimately GUARANTEED by the government (or securitized, with the securities partially underwritten by the government). Otherwise, this might just replicate the FG’s Students’ Loans program of our parents’ generation in the 1970s/80s, which just turned out as a massive drain on the national treasury (and ironically many of the beneficiaries ended up ”japa-ing”! > |
ManWater: ![]() Bro, you know Nigerians well… They will simply consider it their own portion of the so-called national cake. LegendHero:I hope you know this is NOT the first Students Loan program in Nigeria… There were students’ loans during our parents’ time (1970s/80s), and it went BURST because almost no one repaid. The government is still trying to recover loans from the Anchor Borrowers Program… That’s why I don’t really blame those microcredit folks who indulge in borderline unethical practices to recover loans. > |
EcoBrick:EKO O NI BAJE! ![]() But why not 24 hours? We should quit with this “manage am” mentality and aspire to EXCELLENCE! > |
Lutherblaq: ![]() >
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Larryndelaw:Exactly bro! Recall that Obasanjo cancelled the 1979 elections when he was in power…oh wait ![]() > |
Lutherblaq:Festus Kayemo, Senior Clown of Nigeria… ![]() PS: Didn’t Tinubu serve as a Senator UNDER IBB’s military government in 1992-93? >
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Frank688915:Exactly bro! He’s not enough tribalistic enough… ![]() > |
Ynix:Financial engineering is not economics nor a substitute thereof… Generally, it’s merely is the use of mathematical equations to solve financial problems. The position of a central bank GOVERNOR is more than just being a capable banker… It surpasses the weeds of micro banking issues and extends more towards macro POLICY-MAKING! > PS: Btw, there’s absolutely no indication that this dude is engaged in financial engineering. > |
countryman13:Lamido Sanusi has a Bachelor’s and a Master’s degree in Economics… Again, working in a bank or even being a banker (that is, working in the core areas of banking) does NOT automatically qualify one to a central bank GOVERNOR. In fact, even working (or being a banker) in the central bank itself does NOT automatically qualify one to be a central bank GOVERNOR. The GOVERNOR of the CBN is not only a banker but in charge of MONETARY POLICY (a macroeconomic function). Accordingly, if, for example, one is an investment banker or other transactional (corporate) banker, while such a person is obviously a banker he would NOT be an ideal candidate (or “eminently qualified” as some posited) for the specific job of central bank GOVERNOR! PS: I don’t want to belabor the point, but working in IT for over 30 years in the banking sector does not make you “eminently qualified” for the position of central bank GOVERNOR any more than someone working in HR at a bank for 40 years. > |
countryman13:Dude, you miss the point… The point is that the “next in line” argument is clearly ERRONEOUS. A President has the authority to appoint his preference… But it’s ERRONEOUS to posit that the criteria here is “next in line”, because he isn’t! As I noted, I’m reasonably certain that no one on NL knows the criteria for his appointment… But since it is not because he is “next in line” you would expect folks in a DISCUSSION forum to speculate. > |
babaolofin:I ignore folks who resort to crass and childish insults and ad hominem attacks on a public discussion forum… It merely betrays the lack of a substantive argument and a CRUDE FAMILY UPBRINGING (and saves deconstructing your gibberish). SMH > |
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Bvlgari:What a BANANA REPUBLIC… When are the going to arrest his boss in Daura?! > |
pek:D’Tigress… > |
> Here’s hoping most of them haven’t lost interest in repping Naija… Because the last time NIGERIA HAPPENED TO THEM, and some lost a lifetime opportunity to play in the World Championships > |
politicoNG: |
EcoBrick:Life is NOT about where you start but where you END up… ![]() > |
FireUpNow:Given that Tinubu is actually the President of Nigeria, and not the Kabiyesi of Yorubaland… It would be much better if he appointed non-Yorubas as well and they perform well - or even better! > |
While if Buhari had made a similar appointment of his ethnic kinsman, many defending this appointment would lead/join the charge of “tribalism”, I could care less about this dude’s ethnicity. Howe, let’s engage in SERIOUS, FRANK AND HONEST DISCOURSE. First, the dude was NOT “next in line” to the ousted (or suspended) CBN Governor, and thus all of the “next in line” argument, as if the dude is merely an administrative placeholder, is frankly BS! There are at least 2 other Deputy Governors AHEAD of this dude (including 1 who often represents the CBN in the absence of the Governor), and thus it is rational to assume that this dude was appointed for more than just administrative continuity. Of course, what those other reasons may be is anyone’s guess here on NL, but in the absence of such information we cannot really blame those who choose to speculate (particularly based on the Buhari and general Nigerian antecedents and experience). Perhaps more importantly, when one sees statements such as (and pardon any paraphrases) “the man is qualified” or ”he’s the right man for the job” or “he’s has an MBA and 30 years experience of working in banks”, one is frankly left bemused. First, NOT EVERYONE WHO WORKS/WORKED IN A BANK IS A “BANKER”! And, in this particular case, apart from arguably a couple of years very early in his career in “Treasury Operations” (which could well mean merely managing platforms) about 30 years ago (ending in 1993), this dude has been in IT virtually throughout his ENTIRE employment in various banks! Even the NIBSS, where he was MD/CEO prior to joining the CBN, is merely a settlement platform (NOT core banking). Accordingly, the question would be what exactly is this dude purportedly “well qualified” for? At first blush, and quite frankly by any rational metrics, it would be a hard sell to posit that he is “well qualified” or “eminently qualified” (as some others have proclaimed) to be a central bank governor - and to be honest, I didn’t think Mr. Emefiele was “eminently” qualified either nor as it turned out a particularly good central bank governor. Nevertheless, since this is supposedly merely an INTERIM appointment, let’s just hope that the dude would not do anything disastrous, pending the appointment of a substantive CBN Governor who (as some others have proffered on this thread) should ideally have an Economics background or grounding. GOOD LUCK TO US ALL… The appointment of a CBN Governor is not one to be handled as if a civil service appointment (or worse, patronage). > |
seleroms2:An MBA is NOT automatically a banking degree (neither is a degree synonymous with expertise)… Reality is dude has been virtually exclusively in IT in ALL the banks he’s worked in over the last 30 years. > |
Shikini: Ademola47: otipoju: countryman13: hakeemhakeem: plaindealer: Kaysmalz: gotnel:While I somewhat enjoy taking the piss and winding some folks up on this thread (primarily because if Buhari had made a similar appointment of his ethnic kinsman, many of them would lead/join the charge of “tribalism”), I could care less about this dude’s ethnicity. Nonetheless, let’s engage in SERIOUS, FRANK AND HONEST DISCOURSE. First, the dude was NOT “next in line” to the ousted (or suspended) CBN Governor, and thus all of the “next in line” argument, as if the dude is merely an administrative placeholder, is frankly BS! There are at least 2 other Deputy Governors AHEAD of this dude (including 1 who often represents the CBN in the absence of the Governor), and thus it is rational to assume that this dude was appointed for more than just administrative continuity. Of course, what those other reasons may be is anyone’s guess here on NL, but in the absence of such information we cannot really blame those who choose to speculate (particularly based on the Buhari and general Nigerian antecedents and experience). Perhaps more importantly, when one sees statements such as (and pardon any paraphrases) “the man is qualified” or ”he’s the right man for the job” or “he’s has an MBA and 30 years experience of working in banks”, one is frankly left bemused. First, NOT EVERYONE WHO WORKS/WORKED IN A BANK IS A “BANKER”! And, in this particular case, apart from arguably a couple of years very early in his career in “Treasury Operations” (which could well mean merely managing platforms) about 30 years ago (ending in 1993), this dude has been in IT virtually throughout his ENTIRE employment in various banks! Even the NIBSS, where he was MD/CEO prior to joining the CBN, is merely a settlement platform (NOT core banking). Accordingly, the question would be what exactly is this dude purportedly “well qualified” for? At first blush, and quite frankly by any rational metrics, it would be a hard sell to posit that he is “well qualified” or “eminently qualified” (as some others have proclaimed) to be a central bank governor - and to be honest, I didn’t think Mr. Emefiele was “eminently” qualified either nor as it turned out a particularly good central bank governor. Nevertheless, since this is at this particular point in time supposedly merely an INTERIM appointment, we can only hope that the dude would not do anything disastrous, pending the appointment of a substantive CBN Governor who (as some others have proffered on this thread) should ideally have an Economics background or grounding. GOOD LUCK TO US ALL… The appointment of a CBN Governor is not one to be handled as if a civil service appointment (or worse, patronage). > |
FreeStuffsNG: ferhyntorlah: Kaysmalz: GeneralPula:He’s neither next in line nor “next in life”… ![]() He was appointed Deputy Governor in October 2018… While Aisha Ahmad was EARLIER appointed Deputy Governor in March 2018. > |
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Afonjanawerey:While you’re another one who apparently lacks the capacity to comprehend the point that was made, but nonetheless… When you stop sharing in (of pay REPARATIONS for) the oil revenues derived from the ECONOMIC AND ENVIRONMENTAL GENOCIDE perpetuated against our people and our lands in the Niger Delta, then you we might well be “done”! OLODO RABATA!! > |
Afonjanawerey:Dude, when you stop sharing in (of pay REPARATIONS for) the oil revenues derived from the ECONOMIC AND ENVIRONMENTAL GENOCIDE perpetuated against our people and our lands in the Niger Delta, then you we might be “done”! OLODO RABATA!! > |
Patriotsleague:First, there’s NOTHING like “true” federalism (it’s just another cliche we love in Nigeria)… EVERY federation (US, Germany, India, Switzerland, Canada, UAE, Russia, Belgium, etc.) has its own PECULIAR system. Nonetheless, states CANNOT regulate across their own borders… Lagos State cannot make laws for Ogun State - whether in electricity, Agberoism, or anything else. Accordingly, states are unlikely to dabble in transmission… Rather, as a PRACTICAL matter, they’re more likely to restrict themselves to generation and distribution. > |
Jogs1900: ![]() Such a shame that so many of our generation are blissfully ignorant of history…smh But what has UNN or an embassy have to do with the question about the some of the monies used to develop LAGOS?! > |
obyno82:Abegi, what part of “let’s wait and see” are you struggling with? ![]() > |
Image123:Actually, unless the Nairametric report is missing crucial info, Tinubu should NOT have “assented” to the bill… If the bill was actually passed back in July 2022, it can only be assented to WITHIN 30 days (Section 58(4) of the Constitution). Meanwhile, it’s unlikely this law will affect transmission since the states cannot regulate outside their borders… States already have generation authority, but the CRUCIAL difference is the generated power will no longer be ceded to the national grid. This new law might be a relatively immediate impact in states like here in Lagos… But it does NOT address the underlying economic (un)viability issues and thus unlikely to make much difference in the immediate future. > |
Rubyjade:First, the “de-monopolization” had already been effected by the constitutional amendment signed by Buhari… However, doubtful it would actually affect transmission since the states can only regulate within their boundaries. Furthermore, Buhari did NOT sign the Electricity Act bill that was passed by the NASS in July 2022… It is THIS bill that was passed in July 2022, and it replaces the Electricity Sector Reform Act of 2005 signed by Obasanjo. > |
nlfpmod:Without prejudice, this report must be missing some information… Because the President CANNOT assent to a bill that is more than 30 days old. ![]() > |
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