I think the poster has let stereotypes blind him/her.
Tell me one state in Nigeria that can beat these so called Anambra housewives.

Prof. Dora Akunyilu - Minister of Information.
Dr Oby Ezekwesili - Vice-President for the Africa Region at the World Bank.
Dr Ndi Onyuike-Okereke - Director-General of the Nigerian Stock Exchange
Dame Virgina Etiaba - Deputy Governor Anambra state and first female executive governor in Nigeria
Chimamanda Adichie - Presently Nigerias foremost female writer.
Senator Joy Emordi - Senator.

All these women are national figures and no other state in Nigeria comes close as far as prominent women are concerned.
You need to get your facts right at times.

themano:

For me, its Peter Obi of Anambra State. Given the bottom pit Anambra state has been and the level of infrastructure, roads, hospitals, the number of schools fixed, and the FACT (if you doubt this, come to Anambra state and tour the towns and villages) that anambra state bar Abuja, has the BEST network of roads in Nigeria.

Enugu state is just Enugu city that is seeing good things. Lagos has been the Federal Capital and has solid structures for sustainable growth.  And both of them have the Majority of their legislators in the same party

In Anambra state, Until Ngige did some roads, nothing good had happened since Ukpabi Asika Regime in the 70s.   And to perform with the PDP hawks around,  is so amazing.

Almost every village has at least one Good tarred road (177 villages!), primary health care center.

Compared to what is coming in and what the man is doing, i will give it to him anyday. Though he can certainly do better in his next tenure

Unfortunately for Obi , his tenure is coming to and end even after all his good works and fiscal management.
He is the only highly [/b]rated governor in this situation.
maybe it has to do with the fact that other states like lagos et al don't have [b]super-rated opposition like Soludo and Ngige.

We also need to look at Uduaghan, I think he has highly impacted the life of deltans.

realmen:

Sanusi's reform still remains one that can always do more arms that good just as the writer said.
Looking at the Thisday news paper of Thursday 3rd DEC, it was written there that CBN(sanusi) wrote the MD of intercontinental bank to reduce salary and lay off some staff. Just as Sanusi(Almighty) will has it, 26 senior staff of that bank according to Thisday paper Friday 4th DEC, were asked to resign. insider information revealed that more list is still being compiled.
This is the trend of Sanusi' banking reform. all banks have now choose to be sacking staff either as advised by CBN or for them not to be caught up in the mess.
what of increment in the ever growing unemployment figure in Nigeria.

God shall help us

if the above is true, then it means that CBN is actively running some Nigerian banks. Well this is banking made in Nigeria. But I predict it will lead to a comatose Banking sector just like our comatose economy and comatose president !
How befitting !

While I will not place too much emphasis on qualifications, I will not disregard it either. Being grounded in an Ivy league university guarantees access to knowledge but does not guarantee the acquisition of knowledge.
The absence of advanced degrees does not also point to lack of knowledge.

U see am a practical person.
Where did Sanusi get the macro/micro economic exposure professionally to run the CBN. If he did how did he fare and most importantly how is he faring so far.
Sanusi will only be judged by how much the banking sector is doing compared to before he took over.

We have been through this before.
Why has your god sent Sanusi not even dare point a finger at him.
Why has your fearless and aggressive EFCC not invited him or even implicated him.
The people in position are not doing their job properly.
Men stop wasting our time , close this thread jare!

paddy_lo:

ignorance is bliss for u i guess,i will not be going into GDP analysis with u guys on Nairaland again because i have done it b4,if u refuse to learn well your loss

how does oil price rise apply to all subsaharan african countries? do they now produce oil too?

for your info.SA economy registered little or no growth this year

If you were conversant enough you would have known that what I meant was that sub saharan economic growth are mostly based on rise in mineral prices and in Nigeria's case oil.

For south Africas growth what did Nigeria record this year in the face of falling oil prices. Certainly not 6% as that was forecast growth before the drop in oil price can you give us a reliable statistic because we all know that of SA. I guess you wont know because the person supposed to tell you that is preoccupied with
lecturing you on Nigerias history and politics.

paddy_lo:

but when sanusi compares Nigerias $230bln Economy to south africas $280bln economy
ppl start screaming like he has blasphemed,meanwhile south africa grows at 2%,while Nigeria grows at 6%

People dint scream, they laughed ! And once again I will laugh at your comments. Nigeria grew at 6% where ?
The manufacturing sector is vanishing.
Unemployment is increasing.
Inflation is higher than SA.
Foreign Direct Investment is lower than SA.
Business confidence is low.

Practically every other economic index is droping fast but Alas Nigerias economy is growing at 6%.
Well the CBN governor was supposed to tell you that Nigeria has no real growth but the GDP rise was as a result of rise in oil prices, something that applies to all sub Saharan countries. But he just could't be bothered to go into such detail unless it is politics. He happened to be speaking to an educated crowd and they laughed at him !

This guy has truly hit the nail on the head.
He could not have put it any better.

But when he talks about his job he talks about "shooting MDs", "God not forgiving him" , "Nigerias economy outgrowing south africas".
He then sounds like a lightweight and people laugh at him.
And on the international level they see him as not being learned enough. "like some English who attended his road show in london claimed".

What is his economic model for Nigeria.
What is his direction for Nigerias financial sector.
These are genuine questions for a CBN governor and not Nigeria's history.

I had lost most of the respect I had for Soludo when he ventured into politics having left the CBN.
But now we have CBN governor who is more interested in politics even while he is in office.
Nigeria never ceases to amaze.

My guy you no dey tire with this Sanusi guy?

OK @Jarus, we now know how lucky we are to have Sanusi.
All hail Sanusi the messiah !
All our problems will be over.
Amen

mikeansy:

when someone accuse you of fumbling around the topic you hope they will come up with something credible. But unfortunately you went ahead to do exactly what you accused me of.
Whats the point having an election if its ok for Chris Ngige and his gangs to steal votes? then you reach out to history to justify your claim and all you have to mention is Babangida, Abacha . . . . . . well that is the very kind of history we are seeking to change and if that is where you can only reach to justify Chris Ngige's records then unfortunately the man has no business in a democracy.

Ngige is the devil people love. He committed untold atrocities against/with the Ubas but did his people good, with no accusation of coruption. For now lets call him Robin Hood.
Obi is the saint people don't like. Because he did nothing. The saint whose aide was caught with 250 MILLION CASH! and came up with flimsy stories. If not because of immunity he and his aide would have been cooling off in jail by now.
Soludo is seen as good/evil. Accused of all sorts of corruption but with no proof to that effect, he has no immunity but still haven't been prosecuted. Decided to dine with cabals Ngige refused to rejoin.

This is my summary of these three individuals. I will not try to convince anybody. The three have been tested and its up to the voters to register their score come next year.
Exit polls on NairaLand (which I must point out does not necessarily reflect the final result) and with +- 3% error shows that Ngige is the prefered choice.
Obi came a distant second.
And soludo follows closely as third.

None of the three is a saint as a matter of fact no politician can ever be a saint. You just have to pick the best of the offerings.
It depends on your choice.
None of you can influence people. I dont trust politicians but at the end of the day someone has to be governor.

This is good news but please don't spoil the party by giving credit to Ojukwu. Someone needs to let Ojukwu know about the mighty crime he committed against his own people.

mikeansy:

a poll where becomerich can vote 5 times if he likes and anyone who cares can set up 10 accounts and vote 10 times if the like.

Ngige stood for just one election in anambra and had to steal votes. You still have not told me where you got your statistics from.

The only poll that maters is the people's vote iin 2010. before then let Ngige be questioned on his past.

And let Obi be questioned on his present. My friend wait till 2010. If Obi is more popular he will win again, this time no godfathers involved Ngige will even be at a disadvantage as Obi is an incumbent. What is making you uncomfortable with the guy ? Are you saying he doesn't have the right to run for office ?
As for the nairaland poll why will people will want to cheat for Ngige and not Soludo or Obi ? Even though Obi has die hard supporters like you who have deicated a whole thread to campaign for him.

mikeansy:

you have not addressed a simple issue
surely the opinnion of your friends is not conclusive enough to determine who is more popular.

Obi and Ngige stood for election Obi won, Ngige stole the victory which the courts reclaimed from him. Since then there has been no other election in Anambra so don't really get where you got your popularity argument from.

The next election is in 2010. So are you suggesting that we should not ask the right questions about the candidates just because you think they are popular?

This is why I say sometimes that even those in opposition are more dictatorial compared to those in power.

I can see you are running out of manupulative space and sounding more desperate to drive a dead point.
If you read my previous post, I made no mention of Ngige being popular because of my friends. Men there was a poll here on NL. There are also of various occasional newspaper reports to that effect.
No one is talking about 2003. This is 2009 .They have both served as governor and Ngige is more popular and Obi is now clearly less popular NOW! and the election is NOW!
My point is why should you higher priority to scrutinize someone contending for an office ahead of the person in office. the least you should have done is let the electorate decide.
Instead of trying to engage in character assassination you should concentrate in promoting you favorite Obi.
Why is there no thread dedicated to Soludo(former CBN governor) or Obi (the present governor) why Ngige .
Like Obi you feel threatened.

mikeansy:

I am not sure where you got your high popularity statistics from. Ngige has only contested in one election in the history of Anambra state politics. In that particular election he had to collude with gansters to steal the people's vote. he went as low as bowing to a lower God at a voodoo shrine to become Governor. So if Ngige was very popular why did he have to do all this to win an election. Right now the only statistics that maters is the one in February 2010.  However before then we have to scrutinize all those who have made themselves available.

And I think exploring Ngige's past activities is fair game.

Talking about popularity, Chris Uba is also popular but what matters is what you are popular for. And Ngige will remain that ex-Governor who was kidnapped while in office, who could not protect the security of lives and properties of Anambra people because he is held hostage by a past which he chose for himself including colludiong with Uba to rig the people's vote.
Does Anambra want to replay those days, well this is an experience no sane person should wish any state.

Ngige is popular while Uba is notorious.(There is a difference my dear ! )
Ngige became popular after his three years as governor and remains so till date due to his works as governor or did he use Okija to gain popularity?.
Why is your man Obi not as popular?
Do you know how many times Ngige has overshadowed Obi at various Ocassions even though Obi is a sitting governor. There was a poll here on Naira land and Ngige was way ahead. Go and talk to people in the state.
You beter giving up trying to damage the mans reputation. He is presently the most popular and well liked politician in the state. You even feel so threatened as an Obi campaigner that you had to open a thread to try and tarnish his image. The guy is not a sitting office holder, he is not backed by Aso rock, Not a PDP member but he still scares the shit out of people like you and Obi.
Men, I am finished with you. wait till next year elections but before then tell your story to the dogs.

Your biggest mistake is even trying to slip in Obi name.
Has he answered questions on the 250 million his aide was caught with ?
After all your rantings you bring up the name of one of the worst governors south of the Niger.

@mikeansy
Seriously Mr Man What is your point ?

The guy is highly popular.
How did he manage to become so popular and not Obi, Soludo, Uba or Mbadinuju etc.
Why are people are willing to forgive him for whatever misdeeds in the past.
Did he use voodoo on the whole state ?
Where are your alternatives. What we need is constructive criticisms to advance in life and not prejudiced, preguided and biased comments with no meaning.
FYI
The primaries are over in all the parties so you are only left with the party nominees who are only about 4 of them.
I had visited a friends place in Abatete through Ogidi . You need to see the RCC constructed roads. Roads of quality I never saw in Delta state Edo, Ogun , Ondo etc
If there are roads left to be constructed why haven't Obi done it ? instead he went back to those cheap white wash roads.
Men I saw the roads with my own Eyes.
Who do you think you are trying to deceive.
Soludo even Etiaba has a higher chance that Obi.
Why don't you go and run for governorship if you don't like the status quo.
Men, you are waste of time and keystrokes.
I am only sorry for those who are wasting their time with you.

@mikeansy
For all your attacks on Ngige even in the face of his high popularity and high acceptance among the people of Anambra, I have only one thing to tell you:
There is a certain verse in the Bible which states. "The voice of the people is the voice of God !"
Take note.

Ibime:

@ adigun,

By your arguments, perhaps its better for Sanusi to just let the banks run into problems whilst maintaining the facade that everything is OK on the books. CBN as regulator have the right to step in and conduct tests on these banks at anytime and inject capital, just like they conducted stress tests in Yankee. Left to the CEO's of the banks, we will still be hearing that everything is rosy, until the bottom drops out. Do you think loans from the feds to the Yankee banks were not in the form of convertible securities same as CBN's?

All these talks about irregularities. . . .  do you think there are not many courts to decide that? Remember the senators that where yarning opata until Sanusi disgraced them in the Senate steering committee, exposing their lack of legal knowledge. Talking about illegality is mere speculation unless you can produce the article contravened, so be careful when yarning legal talks if you are not a legal expert.

Im done arguing nonsense. Have a nice day.

Well you are right in the fact that we are arguing nonsense. Neither you nor I understand Sanusi and I reserve the right to ask questions even if you wont. The fact that you have drawn comparison with yankee banks without seeing the huge differences even though I have spent a while trying to point them out shows the gulf in detailed knowledge. I cannot even start to point out the irregularities but it is quite appalling that you cant see them.
I have seen people celebrate military coups in Nigeria which were conducted using all manner of excuses so this one doesn't surprise me.
Enjoy the new era of banking in Nigeria!

Ibime:

@ adigun,
It was always said that the loans were convertible loan stock which can be turned to equity subject to certain agreements.

What do you mean loan stock converted to equity under certain agreements. Like sanusi you are using financial terms carelessly without making any sense.
What are the agreements with whom were the agreement signed , sanusi's executives ?
Since when did a lender of a loan security have to determine how much the borrower needs and then lends the money only for the lender to determine the terms of the loan at a later time.
This is exactly what some people have christened Sanusi Banking because it contravenes all coporate and financial practices.
Doesn't all this smirk of irregularities to you?
At the moment the market does not determine the value of the banks neither do the share holder determine the direction of the banks Sanusi is practically doing all of these.
He is eveluating the banks. He is determining the level of support needed, he is selecting the executives of the banks and he is stiring the direction of the banks by trying to create prefernce shares it will sell to any investor of its choosing.

Sanusi said he has no intention of taking over the banks, but if they default on the debt, he has to provide taxpayers with an insurance, which is converting the debt to stock. It would be foolish of him to expose taxpayers to risk of default without providing a get-out.

Under what terms can they be deemed to have defaulted . What are the terms of repayment.
By the day this man is giving me the impression that he does not have a clue what he is doing.

@Ibime by reading your write-ups and your line of reasoning, I am beginning to understand Sanusi better.
Both of you need to be more informed.

He assured however, that the Federal Government had no intention of taking over the affected banks, in spite of the N400 billion injected into them , as according to him, the intention was only to strengthen the banks. Government funds being injected into the banks, he explained, would be converted to a type of preference shares.

"We have no plans of nationalizing any bank. T[b]he plan is towards conversion of the liquidity into equity in the forms of preference shares[/b]. The intention is to look for investors to acquire them and we get out as quickly as possible because I do not believe that government is a better manager than the private sector. No. the liquidity is just to deliver support."

@Ibime
From the link you posted , the following comments I have highlighted do not only confuse you as you had admitted, it confuses me and most other people. But these are my areas of confusion.

1. that the Federal Government had no intention of taking over the affected banks, in spite of the N400 billion injected into them.
    You close the EDW and then you come up with this. Liquidity support like Adenuga did with ETB is a loan support. Aquisition like the British or US covernment did with RBS and Citigroup is part Nationalisation where the government bails out a bank and the funds are converted to shares and the government then own these shares thereby having a stake in the bank and hence wielding deserved executive powers.
From Sanusi's comments, he's neither here nor there. It is either he is not really saying what he is up to or he doesn't know what he is up to.
He is towing a middle ground that explains nothing, a vacuum.

2. would be converted to a type of preference shares. I guess the begging question is "What are they now?"

3. The new management of the bank if you remember had said that they never required anywhere near the amount pumped into the bank. http://www.vanguardngr.com/2009/09/10/5-banks-use-only-n100bn-of-cbns-n420bn/.
As a matter of fact they needed only 100 billion put together.
If you add that with the fact that EFCC have recovered some of the money and the government have accepted (guaranteed) responsibility of some of the others, together with the fact that there is an ongoing global financial crisis.
You must then come to the conclusion that the banks needed little or no bailout .
In luei of this you will also come to the conclusion that sanusi used insolvency as an excuse to wield a wider control in the banks.

4.  The intention is to look for investors to acquire them and we get out as quickly as possible because I do not believe that government is a better manager than the private sector.
What a contradiction.
You forcefully pump money into a bank as support.
Unillaterally convert them to preference shares (eventually) and then sell the shares to an investor of you choice and you say you are not managing the bank.
With this precedence, what it is the assurance that this will not happen in the future because the only intention I can see is forcing an investor of his choice on the bank.

I am not one of those that will want to discredit Sanusi for "being a Notherner" (whatever that means) or alleging that he has a hidden agenda but I will not blame those who do.
If you are busy carrying out sweeping but illogical and potentially destructive actions without properly explaining yourself then you start looking suspicious.

No one should blame Nigerians for complaining. But we have to acknowledge that in the midst all the criticisms there have been giant strides in very many areas. I want to list a few.
1. Banking
   We now have banks thanks no the Obasanjo/Soludo Era. Crisis or not. We now have banks that are an alternative source of funding to the economy asides the government and foreign aid.

2. NAFDAC
   You now have to look at a NAFDAC no before you buy things like pure water and drugs.

3. On going Reforms in the banking and Oil Sector.
   You will all agree that this was a free for all game for politicians and croonies who get allocated oil blocks for no reason.

4. Niger Delta
   13% derivation, OMPADEC, NDDC, Niger-Delta Ministry at least the total neglect of the Niger-Delta as the goose that lays the golden eggs is being addressed. Copare the present situation to 10-15 years ago.

5. EFCC
   Have you ever wondered who was in charge of investigation allegations of financial misappropriation both on the corporate and public levels. Your guess is as good as mine.Yes, The understaffed, overstretched Nigerian Police. Even people like Olabode George are now being sentenced. Like Obj once said at the inception of the EFCC "it is no longer business as usual" . A lot still needs to be done in this area but the journey has started at least !

6. Last but Not the least DEMOCRACY
   Allthough far from perfect but there are attempts to win over the masses. This for example as I have been observing is playing a huge role in Anambra state were most of the masses are going for Ngige for only the road construction he did in 3 years. Even PDP was forced to search for a credible candidate that they could sell to the people even though he was not a politician.

We still need to cover grounds in the following 3 areas of Power and Security. Only then can we start our journey as an emerging market and a developing economy.
Nigerians have to bear in mind that Rome was not built in one day !

Who will agree with me that the alleged practices are completely against corporate governance practices in a free market economy.
If Sanusi is well grounded in conventional economics as many would claim, which one is he grounded in, too much government activity not to talk of the government practically running banks where you've got sitting executives in completely against the rudiments of Economics even the one being taught at ABU where he obtained a first degree and masters.
With bank CEOs reporting to government while ignoring shareholders at large is not only a serious breach of conduct but sets a dangerous bad precedence which will take Nigeria back for years.

WHERE ARE ALL THE SANUSI APOLOGISTS !!!

You can start at examining the election by not taking sides.
How come Obi seems to have a lot of support on internet write-up and by newspaper columnists while from what I hear the people on ground in the state prefer Ngige by far.
Why are some people trying to sell damaged goods. Obi seems to be threading the path of his mentor Ojukwu who concentrated on propaganda while ignoring the situation on ground (during his ill-concieved and ill-executed Biafran war). He could have done himself a lot of good by doing some good work that will impress the masses lest he fails like Ojukwu.
Something Ngige did very well and Soludo did arguably to some extent while at CBN.

While I had always maintained that the motives of Sanusi's actions seem viable, it is his methods that I have questioned.
His exposure to proper banking and coporate practices and governance.
His exposure to global financial markets and trends.
The lack of the above has lead to an increasing amount of gaffes, miscalculations and missteps. This guy is giving the impression that he is learning on the job.
How can a CBN governor say that if he releases the full account of Banks that share holders will realise that they have lost the investments and are no longer shareholders.
Even when the stock market says otherwise.
Is he aware that there are companies quoted in various markets which are running negative and are still traded with value.
I have over the years come to realise that a huge part of Nigeria problems lie on the fact that we keep on hiring mediocres to run this country even in the mist of more qualified personell and hence continue to undermine ourselves.

I had always known that it will come to this.
A situation where a regulator determines without recourse and in disagreement with the shareholders the state of their own companies. And forcefully intervenes in banks administration with little or no consultation with the shareholders.

At present we are given the indication that the CBN do not own any of these banks but the CBN is weilding executive powers withing the banks.

This issue can be only be explained as a military coup where some elements by virtue of their powers go and forcefully take over the reign of an industry just like a country.

Nigeria is a country walking on the path to attaining its development goals no matter how imperfect it may be. Actions like this only serve to undo all the progress that have been made no matter how small. It is sad that some people , maybe due to their backgrounds or where ever they have gotten their ideas from still see all aspects of Nigeria as being entities that must be dictated to.

We should at this stage put ourselves in the shoes of those highly sought after foreign investors who are faced with reality of having their invetments intervened by government and the direction of these companies dictated by government elements with them not having any say in it.

I must also add that as an investor , this is a typical example of an economy where you do not invest your money.

This Is A Coup, Says Shareholders' Leader
By Marcel Mbamalu
THE alleged "frosty relationship" between new chief executives of 'troubled" banks and their shareholders' elected boards has been linked to a directive from the Central Bank of Nigeria (CBN).

The substance of the directive, The Guardian gathered, is that the bank CEOs should disregard their boards and instead relate with the CBN appointed "interim" boards.

It was gathered that consequent upon the directive by the Sanusi Lamido Sanusi-led CBN to the new CEOs to relate with "the remnant of the board members with utmost care," the new bank heads now operate in a manner suggestive of double standards.

This gives the impression of two boards existing in a bank, thus reportedly creating problems in the banks between the CEOs and their "real" board members.

According to a source: "Whereas the CBN says it has not taken over the banks, the result of this development is that these executives see themselves as employees of the apex bank and do not report to the real owners of the banks -the shareholders - as represented by the existing boards."

Also confirming the unhealthy issues in the banks, the National Coordinator of the Independent Shareholders Association of Nigeria, Sunny Nwosu, said

"Boards, as they are today, are divided on these banks because you have the shareholders-elected boards on one side, and you have the Central Bank Governor-appointed 'boards' on the other hand.

"What we are saying now is that a letter was given to the appointed management by the CBN Governor, telling them that they should have nothing to do with the boards.

"They do not have to report to the boards, and even if they have to do so, where there is disagreement, the boards will have to succumb to that of the management appointed by the CBN. It is never done. That's a take-over; and this is not known in law.

"In effect, what I'm saying is that there is a division and it is that the owners of the investment appointed all the directors. Along the line, some of those appointed by the owners of the business have been removed, leaving some of them.

"The newly appointed ones that did not follow the principles of law have been given more powers. It is like a military coup within a democracy. That is exactly what has happened."

It was gathered yesterday that the distrust existing between the CBN appointees and the surviving board members has led to both factions going their separate ways and working at cross purposes.

The schism, which the directive is said to be generating in the affected banks, has resulted in the failure of the existing board members to meet and ratify some of the appointments and forbearance granted by the CBN.

This is coming on the heels of a statement credited to the apex bank's governor, Sanusi Lamido Sanusi, to the effect that shareholders of the banks had lost their capital.

Although the apex bank had made statements suggestive of correcting that impression, it was, however, quoted in the media as saying that the shareholders of the embattled banks had lost their banks.

Some interests in the banking sector, yesterday decried the statement, insisting that, "the fact that such comments came from the highest level of banking regulation is, to say the least, very worrisome."

An international banking expert and CEO of The Banking Group, Kurt Kendis, in an email exchange, yesterday, cautioned against forceful sale of the banks, but maintained that in critical situations, shareholders become the losers.

He called on the media to be more responsible to the task of alerting investors of possible dangers in times of investment boom.

In both phases of the reform process, the apex bank had sacked the erstwhile managing directors of eight bank - Union, Afribank, Intercontinental, Oceanic, Finbank, Springbank, Bank PHB, and Equitorial Trust (ETB) - over what it described as serious breach of corporate governance codes and wanton issuance of 'unsecuritised' loans for margin trading and energy-sector businesses.

In the final analysis, a total of 620 billion was injected into the banks. But stakeholders maintain that the banks did not actually need that kind of capital as the issues in most of them were not as bad as the apex bank wants the people to believe.

The CBN governor was reported to have said that the "shareholders need to understand what we are doing and we are merely being charitable when we talk about shareholders."

"Look, you have lost your money. If your capital is zero or negative, you no longer have a bank,  If we publish what we have, they (shareholders) will see; there is no capital, it's been gambled away."

But Rewane Bismark, managing director of Financial Derivatives, told The Guardian that, as a regulator, the CBN was only meant to determine capital (in)adequacy, and not the market value of shares.

"The CBN," he said, "does not determine the value of shareholders' funds; the market determines that. If the market says that the shares are valueless, then they are valueless.

"What the CBN can establish is the level of capital adequacy or inadequacy, after which the shareholders can make a decision as to what to do.

"The CBN is not in market; it is a regulator. The market determines value while the regulator determines the level of adequacy that is necessary for you to operate," Rewane said.

http://www.ngrguardiannews.com/news/article01//indexn2_html?pdate=011109&ptitle=CBN%20Directives%20Causes%20Stir%20In%20'Troubled'%20Banks

I just did a dig on 2 previous occasions where I had challenged you with this question but I did not find an answer as you alleged. Look at the links below, where I had posed you with the question and please tell me where you replied.

https://www.nairaland.com/nigeria/topic-320128.32.html#msg4503814

https://www.nairaland.com/nigeria/topic-320128.96.html#msg4511728

I take it that you are just being plain evasive on the question.
You will do people on this forum and indeed Nigerians if you stop trying to sell lies by making frivolous unsubstantiated claims.

Jarus:

@Adigun, I have answered responded to these questions in our past discussions on this issue on NL here, I don't have time to repeat myself again.
Meanwhile, Daily Trust has joined Sun in publishing this article:
http://www.weekly.dailytrust.com/index.php?option=com_content&view=article&id=1510:a-memorial-foundation-for-me-no-thank-you&catid=1:comments&Itemid=109

Sorry I had missed your answer (if you gave one) earlier. I need this answer to give people who have doubts about your guy (Sanusi). People have serious questions about his risk management credentials.
A link to your previous answer will suffice if you don't mind.
I hope you are not trying to be evasive.

Jarus:

“Okay, You said this man doesn’t know jack about Economics. He had a Masters degree in Economics from one of Nigeria’s most respected Universities. He has over twenty years experience in banking. He is acknowledged, almost unanimously, as Nigeria’s banking industry’s best brain in risk management. Did you study Sanusi’s profile at all?

Hi Mr @jarus, I had asked you for proof of this in the past but got no reply. I had asked of the effect of his risk management prowess on UBA, a bank that in today's scenario, got distressed and got acquired by Elumelu's STB. And why was Kingsley Moghalu (an internationally acclaimed risk expert) hired by the presidency for CBN.

Did you notice some salient events in his career progression?”

I know of a lady in one of Nigeria's banks who progressed rapidly, looking at her profile/ resume, it was clear that she had very little in terms of academia or professional experience.
This lady simply knew very important people by their access to huge funds made deposits to the tune of billions of Naira. She rose to the position of executive director in no time. My guy , this is sanusi a prince from Kano. Who are those that recommended and clamoured for his appointment. Don,t you know there were influential individuals probably of northern extraction who propelled him to the top ? The same influence First bank must have looked to tap.
My guy are you conversant with the banking sector? This is Nigeria we are talking about.

It is not the CBNs job to carry out internal risk management although they should regulate it.
Soludo probably depended on the banks own internal audit reports.
It is not everyday a central bank carries out an external audit of banks although they can, but this should be done as a exception due to correct a perceived problem.
(remember the bank stress tests in the US?) This was done because like in Nigeria, the banks were suddenly seen to be vulnerable hence being a threat to the wider economy.
But you do not see newspapers claiming that all US treasury chiefs since the great depression were failures because they din't do likewise.
At every point in time the economy or the financial sector will always face new challenges of different natures and hence will have a changing focus.
When soludo came in we did not even proper banks, Soludo focused on building one which would be capable of supporting the economy and he achieved it.
No one was talking of risk management in 2004. They were more concerned with having a real bank at all.