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PoliticsRe: President Tinubu Signs Student Loan Bill Into Law (Pictures) by 9jaRealist: 4:30am On Jun 13, 2023
LegendHero:
Source: https://www.vanguardngr.com/2023/06/breaking-president-tinubu-signs-students-loan-bill/
Without prejudice, when exactly did the bill pass through the National Assembly?! huh

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”!
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PoliticsRe: President Tinubu Signs Student Loan Bill Into Law (Pictures) by 9jaRealist: 4:14am On Jun 13, 2023
ManWater:
This is good.
But they can as well call it Scholarship because no student will pay back a loan.
grin grin grin

Bro, you know Nigerians well…
They will simply consider it their own portion of the so-called national cake.

LegendHero:
They will pay it back and it is not a scholarship.

The full details of the bill will be out soon and lot of questions will be answered.
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.
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PoliticsRe: Improved Electricity: Lagos Targets 20hrs Power Supply Daily To Residents by 9jaRealist: 4:37pm On Jun 12, 2023
EcoBrick:
https://www.vanguardngr.com/2023/06/improved-electricity-lagos-targets-20hrs-power-supply-daily-to-residents/
EKO O NI BAJE! cool

But why not 24 hours?
We should quit with this “manage am” mentality and aspire to EXCELLENCE!

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PoliticsRe: It Has Come Full Circle – Keyamo Mocks IBB, Obasanjo Over Tinubu Presidency by 9jaRealist: 4:32pm On Jun 12, 2023

PoliticsRe: It Has Come Full Circle – Keyamo Mocks IBB, Obasanjo Over Tinubu Presidency by 9jaRealist: 4:24pm On Jun 12, 2023
Larryndelaw:
Which stupid elders. You consider Obasanjo or Abacha as elders. If it were to be Obasanjo in govt he would have canceled the.just concluded election. He always thinks he is God. He is a fool
Exactly bro! Recall that Obasanjo cancelled the 1979 elections when he was in power…oh wait grin
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PoliticsRe: It Has Come Full Circle – Keyamo Mocks IBB, Obasanjo Over Tinubu Presidency by 9jaRealist: 4:21pm On Jun 12, 2023
Lutherblaq:
https://dailypost.ng/2023/06/12/it-has-come-full-circle-keyamo-mocks-ibb-obasanjo-over-tinubu-presidency/
Festus Kayemo, Senior Clown of Nigeria… grin grin grin

PS: Didn’t Tinubu serve as a Senator UNDER IBB’s military government in 1992-93?
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PoliticsRe: It Has Come Full Circle – Keyamo Mocks IBB, Obasanjo Over Tinubu Presidency by 9jaRealist: 4:21pm On Jun 12, 2023
Frank688915:
true talk, obj is a disgrace to yoruba race
Exactly bro! He’s not enough tribalistic enough… grin
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PoliticsRe: Profile Of Folashodun Adebisi Shonubi: Acting CBN Governor by 9jaRealist: 11:47am On Jun 11, 2023
Ynix:
I am a civil engineer and I know economics like the back of my hands. Engineering graduates have diffused into all sector of the economy. In addition foreign institution we even now have financial engineering in the same faculty with other engineering like Civil and Mechanical Engineering
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!
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PS: Btw, there’s absolutely no indication that this dude is engaged in financial engineering.
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PoliticsRe: Profile Of Folashodun Adebisi Shonubi: Acting CBN Governor by 9jaRealist: 11:31am On Jun 11, 2023
countryman13:
Dt a particukarvdeputy Gov at the Apex bank has bn functioning in d absence of the Gov himself is not a guarantee that he will be d next now. U mentioned dt about 2 other deputy Gov are still ahead of ds guy forgetting d fact dt d president has to look for can work with him comfortably. Many DIGs,AIGs n Senior CPs were compulsorily retired when Buhari appointed one of the IG who as at dt have little or no knowledge about the office unlike ds guy in question. Adamu (outgoing or former Education Minister) wasn't an experience person when he was brought in unlike ds guy. Ds guy is not coming from Agricultural sector ooooo. What again are you looking for? No b Islamic banking Sanusi read n dem put am. Renewed hope all the way
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.
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PoliticsRe: Profile Of Folashodun Adebisi Shonubi: Acting CBN Governor by 9jaRealist:
countryman13:
Dt a particukarvdeputy Gov at the Apex bank has bn functioning in d absence of the Gov himself is not a guarantee that he will be d next now. U mentioned dt about 2 other deputy Gov are still ahead of ds guy forgetting d fact dt d president has to look for can work with him comfortably. Many DIGs,AIGs n Senior CPs were compulsorily retired when Buhari appointed one of the IG who as at dt have little or no knowledge about the office unlike ds guy in question. Adamu (outgoing or former Education Minister) wasn't an experience person when he was brought in unlike ds guy. Ds guy is not coming from Agricultural sector ooooo. What again are you looking for? No b Islamic banking Sanusi read n dem put am. Renewed hope all the way
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.
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PoliticsRe: Profile Of Folashodun Adebisi Shonubi: Acting CBN Governor by 9jaRealist: 11:08am On Jun 11, 2023
babaolofin:
While I try not to respond to your submission on issues on nairaland because I mostly see them as jargons, highly incoherent and not constructive I will respond briefly to this one.

I agreed with you that he has been in the IT in the various organizations where he had worked apart from treasury where he left in 1993. You said at treasury operations he was merely managing platform. At NIBSS, you said he was managing settlement platforms.

You can see how shallow minded you are. While it is true that not everybody who works in bank is a banker, also, it is not every banker that can become CBN governor. Management of monetary policy (financial system regulation and fiscal policy) of a Nation is different from core banking operations. An engineer that has been in the banking environment for over 3 decades by training is well equipped to head CBN.

Firstly, I am an engineer in addition to other professional trainings and qualifications. My engineering training opened my intelligence more than any other training I have done because of hard thinking, mathematical modelling and analysis, control systems, statistics, engineering economics & management.
If I have devoted my entire life in the financial sector of the economy, I would be better than anybody in the understanding of the operations of economy. Digital economy and Financial Tech platforms (Cryptocurrency, online banks,etc) are not isolated from fiscal policy, micro and macro economic analysis of the economy.

Head of Operations department of CBN is not just to oversee SWIFT and International and Local Electronics Financial Telecommunications (EFT) platforms or various Financial TELEX platforms but must understand the economy and operations.

Kindly show us the Organogram (Organization Chart) of CBN that makes the Deputy Governor (Operations Department) the least qualified to be an Acting Governor of CBN. You are very parochial and unenlightened. I am taking you for a crude and an uncivilized Onitsha main market trader. Representing a governor at events does not mean the person automatically he is the next governor. It might be due to the relationship between the governor and the person, it might be due to deals and not necessarily the month or year of appointment to the board. Soludo used Tunde Lemo as his right hand man not because Tunde Lemo was older on the board than other Deputy Governors but because they graduated from Nzuka.

Is the Financial System stability or Corporate Services more than Operations Department? What is the effect of the Financial System stability or Corporate Services on the operations of the banking systems and various International and local banking platforms being used in Nigeria? Operations Department is the engine room and the heart of the banking systems. This is where fraud and deals are transmitted electronically and this is where EFCC and DSS monitor and track.

Tinubu is different from Obasanjo, Yaradua, Jonathan and Buhari. Tinubu had first class in Business Admin (Accounting).

CBN governor is not the only person managing the economy. We have economic team. Economic Adviser and Minister of Finance are part of the team. Tinubu as the President and a private sector expert is the Chief Economic Adviser to himself. Tinubu understands economics and economy. Tinubu had dialogue with the private sector during campaign. He will continue to interact with them. He needs a Tech person now.

Finally, your problem is that the Acting governor is Yoruba. If Fola Adeola, the founding partner of GTB is appointed as CBN governor, you will still cry, you will still wail. Show us all the Jonathan appointments. Show us all the Yaradua and Buhari appointments.

You are very uncivilized.
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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PoliticsRe: Video Of Godwin Emefiele In DSS Custody, Being Flown To Abuja by 9jaRealist: 4:08pm On Jun 10, 2023
grin grin grin
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PoliticsRe: Video Of Godwin Emefiele In DSS Custody, Being Flown To Abuja by 9jaRealist: 3:58pm On Jun 10, 2023
SportsRe: Nigeria D'Tigress To Begin 2023 FIBA Afrobasket Title Defence Against Egypt by 9jaRealist: 3:57pm On Jun 10, 2023
pek:
Heading says D'Tigress while bod says D'Tigres. Which is it please?
D’Tigress…
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SportsRe: Nigeria D'Tigress To Begin 2023 FIBA Afrobasket Title Defence Against Egypt by 9jaRealist: 3:51pm On Jun 10, 2023
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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

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PoliticsRe: DSS Confirms Godwin Emefiele's Arrest by 9jaRealist: 3:49pm On Jun 10, 2023
CelebritiesRe: Burna Boy Ran After Davido’s Car First Time They Met – B-red by 9jaRealist: 10:32am On Jun 10, 2023
PoliticsRe: Shonubi Was Appointed Acting CBN Governor Because He Is Yoruba - Deji Adeyanju by 9jaRealist: 10:23am On Jun 10, 2023
FireUpNow:
If he likes let him appoint Yorubas in all aspect provided they perform well.e nor concern me
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!

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PoliticsRe: Shonubi Was Appointed Acting CBN Governor Because He Is Yoruba - Deji Adeyanju by 9jaRealist: 10:18am On Jun 10, 2023
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).
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PoliticsRe: Profile Of Folashodun Adebisi Shonubi: Acting CBN Governor by 9jaRealist: 9:45am On Jun 10, 2023
seleroms2:
X
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.
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PoliticsRe: Profile Of Folashodun Adebisi Shonubi: Acting CBN Governor by 9jaRealist:
Shikini:
A Mechanical Engineer is CBN governor?
Lol ... tribalism is Nigeria's biggest problem
Ademola47:
The guy profile is intimidating.
Politics aside, he's more than qualified for the job.
otipoju:
He is an excellent fit. Based on his educational background and banking experience
countryman13:
And d Master in BAMS wt over 30 years Banking experience for Emefiele bah? Let's have a balance n constructive criticism once now.
hakeemhakeem:
Is that only what you saw, 30 years in bank with mba
plaindealer:
2 Masters degree, one in business admin which you ignorantly skipped, you also skipped the extensive knowledge and resume in the banking and financial sector.

You are Nigeria's biggest problem because all you see is tribalism and not qualifications and competence, you are a dull knife.
Kaysmalz:
You have power to reply dullards who can't read. They were quick to see he's a mechanical engineer but didn't see he has a double masters in both mechanical engineer and BUSINESS ADMINISTRATION. They didn't see his other qualifications, work experience and past offices held. Truly I commend your patience 💯
gotnel:
Double master degree in business administration and mechanical engineering.
30 years working experience in financial institutions.
He is Double qualified.
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).
>
PoliticsRe: Profile Of Folashodun Adebisi Shonubi: Acting CBN Governor by 9jaRealist:
FreeStuffsNG:
He is the next in line to suspended Mr Emefiele. Do you want Mr Emefiele to hand over to the man at the security gate of CBN ni? This is the rule , your next in line steps in until substantive appointee is selected.
ferhyntorlah:
Phahahahahahahahaha
Kaysmalz:
You have power to reply dullards who can't read. They were quick to see he's a mechanical engineer but didn't see he has a double masters in both mechanical engineer and BUSINESS ADMINISTRATION. They didn't see his other qualifications, work experience and past offices held. Truly I commend your patience 💯
GeneralPula:
Sure..

FG is yet to make CBN appointment. He’s just the acting CBN because he’s the next in life!

Tinubu will announce CBN Governor in due time..
He’s neither next in line nor “next in life”… cheesy

He was appointed Deputy Governor in October 2018…
While Aisha Ahmad was EARLIER appointed Deputy Governor in March 2018.

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PoliticsRe: Profile Of Folashodun Adebisi Shonubi: Acting CBN Governor by 9jaRealist: 8:23am On Jun 10, 2023
merit455:
Juat like Buhari, south west go collect everything
’EMI LO KAN’ at work… grin grin grin
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PoliticsRe: How Economy Fared Under Obasanjo, Yar’adua, Jonathan, Buhari by 9jaRealist: 1:24pm On Jun 09, 2023
PoliticsRe: Every Nation Is Entitled To Have Laws To Protect Indigenous Peoples - Omokri by 9jaRealist: 1:22pm On Jun 09, 2023
Afonjanawerey:
You are talking out of senses grin grin we are already done been in this country with you guys , your tribe should be talking about referendum by now so that you can chose whatever law you want in your country. .
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!!
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PoliticsRe: Every Nation Is Entitled To Have Laws To Protect Indigenous Peoples - Omokri by 9jaRealist: 1:20pm On Jun 09, 2023
Afonjanawerey:
You are talking out of senses grin grin we are already done been in this country with you guys , your tribe should be talking about referendum by now so that you can chose whatever law you want in your country. .
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!!
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PoliticsRe: President Tinubu Signs Electricity Act 2023 Into Law by 9jaRealist: 1:11pm On Jun 09, 2023
Patriotsleague:
Under true federalism, every state for itself.
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.
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PoliticsRe: Every Nation Is Entitled To Have Laws To Protect Indigenous Peoples - Omokri by 9jaRealist: 1:02pm On Jun 09, 2023
Jogs1900:
Is it oil money that they use to build the Nigeria embassy in the UK?
Is it oil money they use to build UNN?
Before oil, was it not Lagos money that they used to develop the whole of the south?
Tell us what the south east sacrificed for Nigeria...Its only the southeastern that are against this..
grin grin grin

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?!

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PoliticsRe: Dangote's Fuel Monopoly Risks Soaring Petrol Prices - Joe Ajaero by 9jaRealist: 12:58pm On Jun 09, 2023
obyno82:
Oga that refinery is not ready and has not started receiving crude.
Abegi, what part of “let’s wait and see” are you struggling with? grin
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PoliticsRe: President Tinubu Signs Electricity Act 2023 Into Law by 9jaRealist: 12:55pm On Jun 09, 2023
Image123:
No, it doesn't have to. He can refuse to sign it also. Acknowledge and celebrate the fact that he signed it. Without his signing, it will remain dead.
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.
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PoliticsRe: President Tinubu Signs Electricity Act 2023 Into Law by 9jaRealist: 12:41pm On Jun 09, 2023
Rubyjade:
cheesy

-The Act will bring about the de-monopolization of Nigeria’s electricity generation, transmission, and distribution of electricity at the National level and empower states, companies, and individuals to generate, transmit and distribute electricity.

-The Electricity Act was first passed in July 2022 under the Muhammadu Buhari administration.
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.
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PoliticsRe: President Tinubu Signs Electricity Act 2023 Into Law by 9jaRealist: 12:24pm On Jun 09, 2023
nlfpmod:
https://nairametrics.com/2023/06/09/president-bola-tinubu-signs-electricity-act-2023-into-law/
Without prejudice, this report must be missing some information…
Because the President CANNOT assent to a bill that is more than 30 days old.
embarassed
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