₦airaland Forum

Contrary to the Central Bank of Nigeria position on the strength and status of the Nigerian banking industry, the Nigerian Accounting Standards Board (NASB) has hinted that all may not be well with the nation’s financial sector.

It has therefore warned that the Nigerian banking community should not be carried away by the spurious claims of some banks about their state of health, an indication that the worst is not over yet for the industry.

The Technical Director of the NASB, Mr Jim Obazee, who dropped the shocking news at Akodo, Lagos at the weekend, faulted claims by the CBN Governor, Professor Chukwuma Soludo, as well as the management of some of the nation’s 24 banks about their financial stability and overall global rating.

Mr Obazee, who spoke at the 2008 Finance Editors/Correspondents Retreat, disclosed that contrary to several unverified claims by banks in the country, only about seven banks in the country could pass the critical international tests for healthy operation.

According to him, only two of the 24 banks qualified as market makers, which meant that they had the financial capacity to intervene in the capital market in case of crisis.
The NASB boss who is also the moderator of the International Accounting of the American Accounting Association (AAA) as well as the United Nations Committee for Trade and Development Consultative Group on Small and Medium Enterprises, stressed that only seven Nigerian banks were healthy, including the two, which qualified as market makers, while four of them were in transition to becoming healthy. In addition, he adjudged 11 other banks as merely existing, neither healthy nor sick.
He also declared two of the nation’s banks sick, saying they might survive only on life support from the regulators.

Obazee, whose organization is the statutory body that issues accounting standards for the nation’s private sector, noted that as a result of their current position, a number of the banks were dabbling into non-core banking activities, warning, however, that they should be ready to face the consequences of their action in the near future.

He declared the situation in the industry had fueled further distrust among the operators as only a few could cooperate in the market place.
The NASB position may have contradicted that of the CBN Governor, who last Monday, while addressing the National Assembly, reassured that the nation’s financial sector was in perfect state, stressing, however, that the bank would not hesitate to provide bailout if the need arose.

The government had as part of a concerted action to salvage the ailing capital market, floated the idea of creating market makers out of the existing banks to buy up the toxic asset in the market and to provide stability too.
By definition market makers are those institutions with the capacity to change the direction of the market through regular liquidity intervention.


http://www.sunnewsonline.com/webpages/news/national/2008/oct/27/national-27-10-2008-001.htm

We hosted this type of tournament before in 1995 or 1999 and what was the outcome?  Nothing to show for it. It made politicians richer. Owambe mentality. We made so much money in 1977and hosted FESTAC instead of articulating on how to  use the money to move Nigeria forward. We hosted COJA 1999 ,senior civil servants and politicians benefited by under buying  government assets that were used for the tournament  . eg  Buying BMWs through Coscharis.
Foreign investors are not looking at our ability to host a carefully choreographed event, but are looking at our ability to provide basic services like electricity, security, law and order. Global investors look at financial data from IMF, World Bank, Fitch,Moody, S&P, AugustCo ratings not from FIFA rankings. Doesn’t Nigeria have   a better FIFA raking than India?
Could someone in this forum tell me any sporting event that's been hosted by India or Vietnam, yet they continue to attract  lots of foreign direct investment. If you are talking about oil, why are countries like Algeria, Libya, UAE, Venezuela not hosting? Also there are some countries in Africa with higher GDP than Nigeria like Egypt, Botswana, Gabon, and Mauritius that can comfortably pick up the tab. Remember Trinidad and Tobago hosted this tournament before.    I stand to be corrected, has any country ever developed by hosting any big sporting jamboree? NOPE

I have never believed that Yar'dua will respect the law. Maybe Elendu worked for Channel TV as well. How can you expect someone who stole elections to respect the law? Its like hoping that your kid whose way through medical school was bribed would finally learn and become a Cardiologist. Or would allow your son to represent you in a very serious court case that may involve life or death when you know that he paid bribe in order to pass his bar exam?

Richlyblack.
Your posts are rich in knowledge. This is another reminder when i was arguing with some friends on the possibility of blood money by using "humans'' to make or vomit money .Its always being alleged that human heads vomit a lot of money for " ritualists" and I asked so when Nigeria changed currency did human heads also change currency?

I think that religion in Nigeria is at crossroads, folks believe that God controls everything but "JUJU"

what can you do when Governors went to Okija shrine to take oath with their political God fathers? What can you do when NDDC Chairman gave millions of dollars and pounds to "Juju man" to  "burn" for rituals as if the "juju man" does not know the difference between old newspapers and real dollars and pounds.What can you do when some northern elders would rather see kids die of childhood killer diseases than get vacination, because Americans put "juju" into their  vacines. Ignorance thrives because the govt is the greatest beneficairy, so it can sometimes work against the govt as well.

Pennsylvania Democrat Philip J. Berg, who filed a lawsuit demanding Sen. Barack Obama present proof of his American citizenship, now says that by failing to respond Obama has legally "admitted" to the lawsuit's accusations, including the charge that the Democratic candidate was born in Mombosa, Kenya.

As WND reported, Berg filed suit in U.S. District Court in August, alleging Obama is not a natural-born citizen and is thus ineligible to serve as president of the United States. Though Obama has posted an image of a Hawaii birth certificate online, Berg demands that the court verify the original document, which the Obama campaign has not provided.

Now Berg cites Rule 36 of the Federal Rules of Civil Procedure, which states that unless the accused party provides written answer or objection to charges within 30 days, the accused legally admits the matter.

Since Obama has only filed motions to dismiss and has not actually answered the charges in the lawsuit, Berg claims, according to Rule 36, Obama has legally admitted he is not a natural-born citizen.

Now Berg is asking the court for a formal declaration of Obama's admission and asking the Democratic National Committee for another presidential candidate.

In a statement released today, Berg argues that he filed Requests for Admissions on Sept. 15, meaning Obama had until Oct. 15 to answer or face the consequences of Rule 36.

"Obama and the DNC 'admitted,' by way of failure to timely respond to Requests for Admissions, all of the numerous specific requests in the Federal lawsuit," Berg's statement reads. "Obama is 'not qualified' to be president and therefore Obama must immediately withdraw his candidacy for president and the DNC shall substitute a qualified candidate


http://www.wnd.com/index.php?fa=PAGE.view&pageId=78671

@ samorjack

What would over 200, 000 Europeans who came to see him in Berlin get in return? Maybe socialism, Oh! I forgot that's another name for Wall Street

dayokanu
If Henry Kissinger had endorsed a white man would  his race be a factor. If Henry Kissinger had endorsed a Jewish politician would  you say that  he chose to do so because of Jewish religion since Kessinger is Jewish as well? SO what would you make of Keneth Adelman's endorsement of Obama, he is  a staunch GOP, and a defense policy expert who served from Nixon, Reagan to Bush. Oh! he is a white man.

As per appearing on Africa Rising stage, they should have posted the one where he donned a construction outfit and sang. Maybe he was singing in favour of  illegal Mexican construction workers.
Your argument further fuels the impression that blacks cannot be independent minded since you never questioned why 4 past secretaries of state endorsing McCain ,  all of them are white. Your posts seem to suggest that blacks are a group of people and whites are a bunch of individuals who would do things individually.

<sub>COLLINS: From statesman to the Village People? Colin Powell dons the old construction outfit for a strange turn at singing. We'll let you listen if you're good. Details on that coming up next.

Also tonight, Hollywood knows a good franchise flick when it sees it. Spider-Man 2, back in action. We'll take a look ahead in the "Weekender."</sub>

transcripts.cnn.com/TRANSCRIPTS/0407/02/acd.00.html - 76k

As for folks like Rush Limbaugh saying that race might have been a factor, he still does not get it that its people like that scare him away from Republican Party. If there is someone who  has some racial biases, it should be Rush Limbaugh and co. The point is that there is anti-intellectualism running in GOP that wants to take over everything. Its only a fool that would take pieces of advice from a drug addict or Billy O'Reilly calling his opponent bad names while he had to "settle" a woman for sexual harassment. How about Glen Becks telling you that he is a recovering alcoholic and yet claims monopoly of having answers to all America's problems?

for someone insinuating that race might have been a factor!

Maybe Collin Powell should have endorsed  Allen Keyes,a black man and a Harvard Ph.D with a fortified foreign exprience.
He should have endorsed  Jesse Jackson even when Correta Scott King  had endorsed Walter Modale over him

I have some Mack trucks for Sale. R 600 Models, Camel Back suspension,PTO,Tandem axle, tractors. Some CH 600 models,Air ride suspension and Camel back suspension 7-10spd,300-350Hp, PTO, Tandem axle. Serious enquiries please.

Tayo D.
What was McCain's association with Accorn when he addressed them in 2006? Why are you not talking about Sarah Palin hosting a secessionist organisation in Governor's mansion in which her  husband is a card carrying member? Why are we not talking about John McCain's association  with folks who lobby and dine with Burmese dictators. Why are we not talking about John McCain's association with Iran Contra. Why are we not talking about Keating 5? Why are we not talking about folks like Bushes who had business dealings with Saudi families? How about John McCain's association with a pastor who constantly taunts Jews and minorities. How about John McCain voting against MLK's holiday and equal pay for all genders.  Since its guilty by association, Obama should not be extricated from his relationship with Ayers only if  John McCain's previous relationships are taken into account.
How about McCain's relationship with Bush who went to address Bob Jones University that  bans inter racial dating? How about Ralph Reed , an intern for Jack Abramoff, a convicted lobbyist,  who is now raising money for John McCain.

Let's put 20 years of going to church in perspective. Most church services last for less than 2 hours, but we are going to use 4 hours.
In a year Obama spent 4 hours by 52 weeks (if he attended church service every Sunday; possible or impossicant?
4hrs by 52 weeks = 208hrs in a year. This is equal to 8.6days when you divide by 24hrs
so 8.6days by 20 years= 173.3 days divide by 30 days ( a month) =5.7months

Obama is 46 years, so 46yrs by 12months = 552months.So to give you a sense of what percentage of his life that was spent in that church
5.7/552 X100% =1.0326%. so 99% of his life is very intact  if he went to church to seek for  a "spiritual mentor". Never mind the fact that  most of us who go to church have never challenged our assimilated religious teachings let alone pastors. His tutelage days at Columbia and Harvard cannot be compared with the "time" he spent in his former church yet, we choose to ignore these glaring facts and define him as a radical even though he has never preached from the pulpit .
We really need to test some our so called claims not that everybody is saying the same thing.

why having artistes who dont live in Africa on the list?

some of us must have been dreaming. Just visit sites like nobama dot com and see some rants against him. I read an article from a right wing ideologue (PhD.) who thinks that Obama did not write his two books but Bill Ayers. He even went to the point of calling Harvard Law Review editor's position a popularity contest. The point is that massive followership of these folks thrives on ignorance. How could I listen to Billy O'Reilly question Snoop Dogg's character while he had to settle sexual harassment law suit out of public glare or  Rush Limbaugh's repeated conflict with illegal drugs.Maybe I'm too  aloof to know that John McCain is a US citizen even though born in canal zone or that Barack Obama is a Christian. I think that the Swedish Academy Secretary on Noble Prize was right to criticize Americans as being  too isolated and insular in literary work. This is also applicable in every facet of American polity. You listen to Glen Beck haul accusations at media of being partisan while he is the greatest partisan and a big media player. I don't know if Europeans are politically wired this way.

One neurosurgeon in Africa for every 1.2m people: Tutu Mon Oct 13, 1:52 PM ET



Africa has only one neurosurgeon for every 1.2 million people, a challenge topping the agenda at an international neurosurgery conference held in South Africa, organisers said Monday.

"There are 700 million people on our continent with 565 neurosurgeons, that is one surgeon per 1.2 million people," said retired Archbishop Desmond Tutu who opened the conference.

In Africa poor diet and peri-natal care means higher incidences of treatable conditions -- such as water on the brain, spina bifida and tuberculous meningitis -- than anywhere in the first world.

"Something basic like the treatment and management of hydrocephalus (water on the brain) is very different in Africa because of the cost of the treatment and the expertise needed," said William Harkness of Britain, who is on the board of the International Society for Paediatric Neurosurgery.

Abat Sahlu, a resident neurosurgeon in Ethiopia, told AFP there were only four neurosurgeons serving 80 million people in his country.

"In one hospital we have 400 paediatric patients waiting for surgery. They wait up to four years," he said, adding many would die awaiting treatment.

Zambia has two neurosurgeons for 11 million people. The Ivory Coast has 10 specialists serving 20 million residents and people from countries such as Liberia and Sierra Leone who have none.

Tony Figaji of the Red Cross children's hospital in Cape Town -- the only specialised unit in sub-Saharan Africa -- said brain tumours were the second most common malignancy in children after leukemia.

"For a child who has a brain tumour the primary thing making a difference to whether they will survive is to have an operation," he said.

Head injuries were the leading cause worldwide of death in children over four, and in South Africa there was up to a seven times greater chance of a child dying from a head trauma, Figaji said.

The conference, held for the first time in sub-Saharan Africa, includes training for neurosurgeons around the continent.





http://news.yahoo.com/s/afp/20081013/wl_africa_afp/africahealthsafrica&printer=1;_ylt=Ai_U11FPLT9x2R.gd1WKMqeZsdEF

Good to know that someone wants to move beyond his comfort zone. Moving to Nigeria is  a heck of a task, but its what you  would have to do in order to happily consummate your marriage.
Few steps;
Take a few months vacation  to Nigeria in order to explore the everyday living culture of Nigerians. This will afford you the opportunity of seeing and traveling Nigeria through your own mirror. I bet you are going to get a discount on some of the events you have been seeing on TV. It can also be overwhelming.

Network with some Nigerian professionals in the UK or some Nigerians who visit UK for studies can really open your eyes to the opportunities that are abound.  You will need to work with some organizations like Oxfam, DFID, Foreign office and some Common Wealth Business groups to expand your horizon on working and living in Nigeria. Please do not set up company for now because you may get burned. There is a high bureaucracy in Nigeria that may work against you. Become a "Nigerian" first before setting up a company.
Its also very important that your wife unleash her Nigerian connection so as to help you integrate easily with the working class. I believe that if UK ambassador can manage Nigeria, you can enjoy  Nigeria as well.

Visit some of the cities you would like to live in if you move to Nigeria, this will enable to get accustomed to Nigerian ways of doing things.
There is a recruiting company called phillipsconsulting.net to submit your resume. I bet you can get lucky with some of the companies. Its better to work for a publicly traded company than a private company. I believe that you should also expand your tentacles by reaching out to other Eurozone companies doing business in Nigeria.
Check out Shell, Chevron,BAT,Infosys,Ericsson,ABB,Costain,Citi Bank,Standard Bank,BA, Virgin Atlantic etc.
Good luck and keep us updated.

another myopic generalization. Always bashing /criminalizing "every' Naija man. How about the fact that Naija women dont mind anything so long as Naija men are bringing home some goodies from abroad. Do we have to conclude that Naija women are gold diggers too?

South Africa faces critical skills shortage: official Thu Oct 2, 1:16 PM ET



South Africa can't find enough skilled workers to deliver local services to the public, a top official said Thursday in delivering an annual report on the government's performance.

Frank Chikane, director general in the president's office, said that eight years ago, financial constraints were the main limit to delivering government services.

"Now we are reporting a budget surplus, but lack of capacity to spend the money, especially at the local government level, is slowing service delivery," Chikane told reporters.

"Some municipalities do not even have a single engineer. That is a huge problem," he added.

The government has launched a joint effort with private companies to train people in skills currently in short supply.

However, the programme has not yet produced enough experienced candidates to fill the growing number of vacant jobs.

The report said the government's fixed investment grew by 14.8 percent in 2007, accounting for 20.6 percent of gross domestic product.

This is the highest investment ratio achieved since 1985 and takes South Africa closer to the government's target of investment as 25 percent of the GDP by 2014.

But the report warned the country still needs to do more to combat unemployment and crime.

Despite being Africa's largest economy, South Africa is still struggling with high levels of unemployment, officially put at 25 percent but believed by analysts to be nearer 40 percent.

"Unemployment is at the heart of poverty, and while social grants can provide relief, employment creation is necessary in breaking the circle," said the report.

Crime also remains one of South Africa's biggest challenges ahead of the 2010 football Word Cup.

Official figures indicate that around 50 murders are committed in the country every day, making it one of the highest rates in the world.

According to the report, latest official crime statistics released three months ago showed murder figures at the lowest level since 1994/95.

http://news.yahoo.com/s/afp/20081002/wl_africa_afp/safricapoliticseducationeconomy&printer=1;_ylt=At3N6vq8iXC_U8DUrjUgobGZsdEF

S.Africa consortium interested in Newcastle Sun Sep 28, 9:06 AM ET



A consortium of South Africa businessmen were on Sunday reported to be interested in purchasing crisis-ridden Premier League side Newcastle.

Newcastle have already been in talks with a group of Nigerian tycoons trying to put together enough funds to meet owner Mike Ashley's 400 million pound asking price.

Now it's emerged that a second white knight may be on the horizon in the shape of a group of British-based tycoons whose fortune has been made from rescuing and rejuvenating household brands around the world.

A report in The News of the World suggests the South Africans have put together a 350m pound offer.

"We are serious about Newcastle, we believe they are an iconic institution who deserve to be run professionally," an unnamed spokesman for the South Africans told the paper.

The spokesman added that Kevin Keegan, who quit as manager this month, was the key to the group taking control, with another favourite son of the Tyneside club, Alan Shearer, also in their thoughts.

He said: "Kevin is integral to our plans. We want Kevin to be fully committed to the team and we hope to find a role for Alan Shearer.

"We are not personalities. We like to be in the background, we need to be in the background."

The group are confident of turning around Newcastle's fortunes, with the spokesman saying: "The existing management structure has not worked so we'll pay Mike Ashley what it takes to get rid of him.

"The level of expertise we have is in discovering the real problem preventing success. We want to find the root problem and turn the club around.

"We will give the Newcastle fans what they want."

Ashley has appointed Joe Kinnear as an interim manager until the sale of the club goes through.

Kinnear saw the scale of the task he faces for his own eyes at St James' Park on Saturday when the Magpies slumped to their fifth successive loss, this time to Blackburn, to leave them rooted one off the bottom of the table.

http://news.yahoo.com/s/afp/20080928/wl_africa_afp/fblengprrsanewcastletakeover&printer=1;_ylt=AgllIm8QQ3myESrncL5zDcuZsdEF

Grading the First Presidential Debate By MARK HALPERIN / OXFORD, MISSISSIPPI
Sat Sep 27, 3:25 PM ET






John McCain


Substance: His arguments were hard to follow at the beginning, but he found his voice as the debate progressed, although he never seemed fully in control of his message. He had plenty to say about the economy, Iraq, Afghanistan, and Russia, but often bogged down his own answers when trying to unfurl quips and soundbites. Stuck with bumper sticker slogans on the economy, and while he got a bit more detailed on foreign policy, he stayed at his usual level of abstraction. If he truly knows more about the world than Obama, he didn't show it in this debate.


Grade: B-


Style: Cluttered, jumpy, and often muddled. Frequent coughing early on helped neither his arguments nor his image. Jokes about being deaf and anecdotes about Normandy and George Shultz seemed ill-advised - even his pen was old. His presentation was further hindered by his wandering discussion of the differing heights of North and South Koreans and his angry assertion about how well he knows Henry Kissinger. Fell into the classic politician's trap of inserting familiar stump speech applause lines into debate responses - which only works if done with enthusiasm and clarity (and if received by applause - a big No-No in Lehrer's auditorium, which the audience obeyed seriously and silently). Keenly aware of the grand, grave occasion, McCain wavered between respectful and domineering, and ended up awkward and edgy.


Grade: C-


Offense: Emphasized his bread and butter issues of taxes and spending, and hit Obama on his failure to visit Iraq and his expressed willingness to meet with dictators. But while mocking his opponent on a few occasions, which reflected his acute disrespect for Obama, he did so in an insufficiently sharp and detailed manner - and unevenly worked elements of his rival's record into his attacks. Still he was utterly confident about his own experience, knowledge, and policies, even when tripped by his own tongue and distracted by the strains of debate practice. The main problem: Obama's obvious preparation and sharp answers contradicted McCain's frequent claims that the Democrat was uninformed and "didn't understand" key issues.


Grade: C+


Defense: He managed to ignore most of Obama's jibes, but was eventually baited into giving an extended answer about his policy differences with President Bush, after his opponent repeatedly mentioned McCain's regular support of Bush's budgets. Was visibly riled when clashing with Obama over a variety of issues, including Iraq, sanctions, and spending. He also chose to boast about Sarah Palin (although not by name) as his maverick partner, who, after her shaky week, may no longer be his ace in the hole.


Grade: B-


Overall: McCain was McCain - evocative, intense, and at times emotional, but also vague, elliptical, and atonal. Failed to deliver his "country first versus Obama first" message cleanly, even when offered several opportunities. Surprisingly, did not talk much about "change," virtually ceding the dominant issue of the race.


Overall grade: B-

(Read Mark Halperin's take on Barack Obama's performance)

Barack Obama


Substance: Quite manifestly immersed in the past, present, and future details of policy, and eager to express his views, which have been expanded, honed, and solidified during the last 18 months of hard campaigning. Still, he did avoid the nitty-gritty details of policy positions in favor of broad principles and references to working Americans, thereby not presenting the kind of specifics that some voters are waiting to hear from him.


Grade: B+


Style: Polished, confident, focused. Fully prepared, and able to convey a real depth of knowledge on nearly every issue. He was unhurried, and rarely lost his train of thought even when the debate wended and winded - and uttered far fewer of his trademark, distracting, "ums." At times, however, Obama revealed the level of his preparation by faltering over a rehearsed answer. He seemed to deliberately focus on the moderator and the home audience, with McCain as an afterthought - except when on the attack. Chose to avoid humor, for the most part, in favor of a stern demeanor, and in the process, came off as cool as a cucumber.


Grade: A


Offense: Linking McCain to Bush in his very first answer, he kept it up as his primary line of attack. Forcefully hit McCain for his early support of the Iraq War. Though he never drew blood, he did keep McCain a bit off balance, often with clever references to McCain's recent statements.

Grade: B

Defense: Had a reasonable answer for every charge that came his way - with little anger, bluster, or anxiety. Often interrupting McCain attacks with swift explanations and comebacks, he managed to spin accusations of being liberal as evidence of his relentless opposition to George Bush (in replies that were clearly planned). Offered a rather clumsy alternative to McCain's well-known, moving story of wearing the bracelet of a soldier lost in Iraq (a gift from the soldier's mother), with a story about a bracelet of his own. Fearless, without condescension, he attempted the gracious move of agreeing with or complimenting a McCain position, occasionally to his own detriment.

Grade: A-

Overall: Went for a solid, consistent performance to introduce himself to the country. He did not seem nervous, tentative, or intimidated by the event, and avoided mistakes from his weak debate performances during nomination season (a professorial tone and long winded answers). Standing comfortably on the stage with his rival, he showed he belonged - evocative of Reagan, circa 1980. He was so confident by the end that he reminded his biggest audience yet that his father was from Kenya. Two more performances like that and he will be very tough to beat on Election Day.

Overall grade: A-

(See photos from the campaign trail)

View this article on The Debate Is On To Debate or Not to Debate Klein: Obama Wins Debate On Tactics and Strategies Leaving Iraq: Debate Shifts to When McCain's Foreign Policy Frustration





http://news.yahoo.com/s/time/20080927/us_time/gradingthefirstpresidentialdebate&printer=1;_ylt=AoWawtj4JgZ9mLW7UOEYdT7BF4l4

I said it before that her  resume ( soccer mom, hockey mom, moose hunter) could not even get a low lifer any job at McDonald's let alone a VP spot. This is a major gamble that is about to blow up in their face. SHe brandishes her resume " "Im a mom" as if to say that she want to be on Flavor of love. But again this is America where your political clout or color matters. If a 22 year old guy with a political clout could get  a $300 million contract from dept of Defense, nobody can stop Palin but Americans if they choose to.

If Gen Petraus never uses the word " victory" in Iraq who is Obama to use the word "victory"?  Is the war being fought by Palin or Gen Petraus? What's her background to know what is victory given that George Bush had already declared "mission accomplished" even before the real war began.Maybe u also need to balance your lopsided view with some untrue  things McCain has said about Obama. McCain said that " fundamentals of the economy is strong"so what's the point of giving meaning to that statement? I dont know why folks like  you keep lumping Obama with Africa as if to say that he is running for AFrican president. By the way, Africa was barely mentioned in their first foreign policy debate.

only in Nigeria is where  WEAC  administrators are not held accountable. How could you  survive in business if  you incure 83% loss? Imagine  living a life where  you have 83% failure. I remember some of my professors  saying that nobody has ever scored an "A" in their courses. Its only In Nigeria where we dont think about consequences of our actions. I asked one of my profs " if nobody gets  an A in your course, do you expect your kids or grand kids to be taught by smart foks or  "dummies" who got out of the system with  " let my people go grades"  C's and D's. That's  why  is so freaking  hard to let PhD students graduate in Naija because their Profs wont let them.

this might not be old news as usuall cos it used to be 8 yrs and and above

So this means that a few political jobbers could overthrow a democratically elected government. I think they overturned the will of the people by overthrowing Mbeki at a gun point. Another political experiment running amuck

Some people have no shame:

URGEN MESSAGE FROM NIGERIA, ER, AMERICA

Dear American:

I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.

I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.

I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transactin is 100% safe.

This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.

Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.

Yours Faithfully Minister of Treasury Paulson

http://www.swamppolitics.com/news/politics/blog/2008/09/nigerian_letter_demands.html

http://www.newlilwayne.com/2008/03/new-lil-wayne-a-millie-milli-lyrics/

Ima Millionaire,
Im a Young Money Millie in aire, tougher than Nigerian hair,
My criteria compared to your career just isnt fair,
Ima venereal disease like a menstrual bleed,
Threw the pencil and leak the sheet of the tablet in my mind,
Cuz I dont write shit cuz I aint got time,
Cuz my seconds, minutes, hours go to the al mighty dollar,
And the al mighty power of dat chit cha cha chopper,
Sister, Brother, Son, Daughter, Father motha Bleep a copper,
Got da maserati dancin on the bridge pussy poppin,
Tell the coppers, hahahaha you cant catch em, you cant stop em,
I go by them goon rules if you cant beat em then you pop em,
You cant man em then you pop em,
You cant man em then you mop em,
You cant stand em then you drop em,
You drop em cuz we pop em like Orville Redenbacher,

Is it astonishing that Republicans have more favorable views of blacks yet blacks  vote dems all the time. This also answered some of my problems why a prominent Clinton fund raiser endorsed John Mcain saying that Mcain and Palin would be a centrist government. She even went ahead to bash Obama , Pelosi and Dean saying that Obama would be too liberal. Then I wondered would Hilary have been more centrist considering the fact  that noghting rallies republicans behind more than the Clintons.

And it seems that Republicans have more favorable view of blacks than democrats. So  Dems are using black votes when they  need victory. So black votes  are taken for granted. This also reminds me of  why Senator Hillary Clinton was over emphasizing that Obama was missing  " white  voters" during the primaries