₦airaland Forum

I think we there should a detribalised section on NL.

This how to be a Yoruba or any ethnicity. There are only a few of us left.

I think if Abiola is immortalised the Alhaji shehu yaradua should be immortalised as well. He was cheated to give way for MKO and eventually lost his life for democracy. Abiola indirectly was part of the plan until IBB turned on him.

benchuks:
finally,Yar'dua has broken the jinx by appointing Onovo,as the first ever IG of Igbo extraction.this is a commendable feat and must be appreciated and commended.wishing Onovo a more fruitful service to our fatherland.

I thought Okiro was Igbo. This whole Igbo thing is beginning to confuse me.

Becomrich:
So name the Nigerian who was greater than Awolowo. There have been none. That why you are still talking about him. 22 years after his death.

Awo mistake was supporting Nigeria govt against biafra.

@ Becomrich
Whats it with all these maps. Can you explain the connection with Awo?
Awo is a National figure no doubt, so there is nothing wrong with talking about him. His face adorns our 100 naira note for crying out loud.
But what do non-yorubas remember him for?
We've heard enough from the oduduwas plus all you biafrans as well.

KnowAll:
He does not need to be great outside yorubaland, yorubaland was his contituency hence his greatness within it. He was never a central goverment politician but a strong regional personalty and politician who impacted  possitively in the lives of her citizen.

Should I now equate Awo to the likes of Ojukwu. I beg to differ , I think Awo was greater than what you are making him to be. But my question is how has he impacted non-yorubas in Nigeria. Like a friend of mine put it , the greatest Nigerian to have come out of yorubaland is Obasanjo and not Awo!

I am not critisizing Awo but after going through a book written about Awo and all his missed legacies for Nigeria, I tried to convey it across to people who saw different opinions on the man which where not apparent to me.

My take is that no individual is perfect , we will need to draw from the positives on individuals while not abandoning their negatives. If these allegations are true we need to re-examine them but nothing should take away the good qualities of the man.

I have spoken to a german who highlighted the great merits economically and politically of the Hitler era but rounded it of with Hitler being the worst thing that happened to Germany.

Did Awo really Marginalise the Niger delta . Is it true that Awo justified his treatment of present day midwestern state by stating that the western regions finances came from cocoa which were produced in the core yoruba areas and hence the selective development. From many accounts the midwest was delivered from the marginalisation of Awo by Dennis Osadebey's NCNC which led to the creation of Mid-Western State.
They often alledge that Awo reneged on his principles on the discovery of crude oil in the Niger Delta area in conaivance with Gowon.

I grew up in todays's midwestern region and there is absolutely nothing in the whole of Edo/Delta states that can be attributed to Awo. Isn't that quite suprising.

I will welcome more opinions but please do no turn this to a Biafra Oduduwa fight.

It has surprised me that with all the praises and accolades being heaped on Chief Obafemi Awolowo in the south-western part of Nigeria. He is very unsellable outside Yorubaland. When compared to Zik, Zik has been immortalised in places in his south-east(Enugu, Onitsha, Aba,awka etc), south-south(port-harcourt,calabar) , south-west(Lagos), North-central(Abuja), North-East(Kaduna,Kano,minna, Zungeru)

Even more surprising is that no one has anything positive to say about Awo outside the Yorubas.

NIGER DELTA
The Niger deltans blame him for their present problems, with Asari-Dokubo once calling him a devil.“Awolowo was a devil and his policies led to the present problems that the people of the Niger Delta are fighting against”  People in Edo/Delta states even though used to be part of the old western region have accused him of being the originator of tribalism & marginalisation .People in Warri blame him for causing chaos in the multi-tribal city (Olu of Warri Saga). This is even more evident as nothing has been named after Awo in the whole of the south - south region even old midwestern state(Bendel).

SOUTH EAST
These one have been very vocal even while critisizing Zik. The have accused him as being cynical and coniving during the biafran war.They accuse him as shamelessly condecending for a man of his statute, having accepted a ministerial position under the Junta regime of Yakubu Gowon , something even Ojukwu rejected!

NORTH
Awo has been characterised as a distabilising character who refused to build bridges and alliances always heating up Nigerian politics to serve personal ends. They would not even mention Awo as having any influence in Nigeria's history.

My point is that , in the words of Ojukwu himself . Awo is the best president Nigeria never had. I can't help  but feel that if given the chance Awo would have put Nigeria on a different path. But anytime i mention this there is always someone (a non-yoruba) who would think that I am highly mistaken and don't know the man very well.

Whats the big deal. The US is all about self interest. He supposedly visited Ghana because it is an exemplary democracy. But don't forget he visited Egypt b4 Ghana. Tell me whats so democratic about Egypt ? A Totalitarian, Autocratic state with mubarak in power for almost 3 decades. He bowed and kissed the hands of the saudi King what is so democratic about Saudi. He has been playing cozy with China another undemocratic state not to mention his latest visit to russia another undemocratic state.

He the does not visit Nigeria because its not democratic ? Wake up ladies and gentlemen, we cannot be taken for a ride.

Salihu Aliyu Nigeria's Director of Public Prosecution agrees. Case closed! He represents all Nigerians.
http://news.bbc.co.uk/1/hi/world/africa/8142925.stm

Sex!

I don't believe in quota system. If the best people for a job are from one state let them be appointed. It is the presidents prerogative. The only time we exercise our rights is during election. When we reward the president or penalise him based on the performance of his appointed officials.
I don't understand the way Nigerians think. What has an office holder from your tribe, state or region got to do with your well being. There is this covet wish that you will be more favoured above others.
I think Nigerians are summarily selfish, and self centred, even at their own expense. They will accept anything just to make them seem superior to their fellow country man.
tribalism, nepotism, regionalism, ethnicity etc are just a manifestation of this.
We need to stop pointing fingers at politicians at the top.
They are  just a typical Nigerians like most of us .

Going by the utterances of the present central bank governor, I would say that the most reliable bank is First Bank Nigeria, where he was MD. Until further clarification, the rest have either been cooking their books, distressed, or are exposed to sizeable margin loans !

Reuben Abati has never been more wrong. He belongs to the lost generation that derailed Naija with their lack of ideas and follow follow principles. Now its all about ORIGINALITY through STREET CREDIBILITY . I GET AM !

I think Awo is a national hero. My reasons are because he was instrumental to our independence. I think no matter what part of Nigeria you come from you should respect the individual. He might have had a few short comings but who doesn't. Will never consider him a villian, not even close.
But whether he's been the most relevant politically, I would beg to differ. Olusegun Obasanjo has been more nationally relevant to the nation than Awo  by a mile. I say even Zik was. But that is the biggest mystery with this man. How come he is so respected in western Nigeria (yorubaland) but is so irrellevant in other places, most surprisingly in places like the old Bendel (Edo,Delta) that used to be part of western Nigeria.
What seems to make this great man so unmarketable and downright irrelevant outside his ethnic group as compared to Zik. Zik has been immortalised in every region in Nigeria from the north to the south south. But no attempt has been made to do same for Awo outside the present day south-west.
Maybe there are things I don't know.

Abiola was a summary of Nigeria's problems. I remember complicacies in his not running for president when Shehu Musa Yar'Adua was running. Only to come in on a grand scale after he was disqualified. He was close to IBB and was in on the plan all along. IBB only turned on him when he was put under pressure by senior military officers.

After being cheated and banned by IBB, Abacha evntually made  Yar'Adua pay by mudering him in cold blood.
Alhaji Shehu Musa Yar'Adua has paid a higher price than Abiola will ever do.
But why isn't he as celebrated.

Just contributing a careful analysis !

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOO ! Except population wise.

Please, ladies and gentlemen, can we go on with meaningful discussions on this thread and ignore this drug addict who somehow has access to the internet. @Affalatus has been following Soludos story on various other threads . Lets just pretend he doesn't exist.

Have anyone noticed that Soludo is the most talked about man on NairaLand, after Yaradua.
He just got removed and he's still being talked about.
This guy might be a phenomenum, as a matter of fact, the messiah of our generation. And I mean not just for Anambra state.
Maybe we've just lost a huge chance.

After the Soludo Saga, I have had cause to re-examine Nigeria. Our leaders are the products of our society, their policies and attitudes are a summary of our mentalities and attitudes. We are stubborn in ignorance,choose to be blind to the truth, summarily decietful, and will selfishly protect our self interest no mater how petty and destructive it might be.

The fact that the removal (non-renewal) of a public office holder has even generated some heated discussion in Nigeria can only give kudos to the guy involved. Anywhere it is raised, there is some debate.! Do you know how many threads are on NL regarding this issue. It points to the fact that there might be something not quite right. This is not the first time a CBN governor has been removed/replaced in Nigeria, how come this one has generated so much talk.

Common, its only a CBN governor !

Well in as much as you've made up your mind to invalidate any fact or figure I put forward with some flirmsy reason, I don't see why I should continue. Facts, figures and references has always been and will always be the best way to argue a point. But no matter what you do whoever will not see the truth will not see it.

Jarus:
Guys,
This is unarguably one of NL politics section's most intellectual debates, where facts, rather than conjectures, reign. This is a thread that is presentable, anywhere.
I am personally pro-Soludo, but not anti-Sanusi, in other words, my view is: Don't change Soludo, but if you must change him, then Sanusi is not a bad choice.
I also find commendable the fact that all the contributors here demonstrate good grasp of economics, banking and economy, rather than beer parlour analysis.

@Jarus is spot on and i'm with him on that.
@biina you don't get it . Nigeria is a part of the global comunity and its economy doesn't exist independently. All this volatility in our economic / financial policies does not help confidence in the market. And confidence and stability is very crucial to the prosperity of the Nigerian economy and foreign long term capital flow/investment.
Why change someone that is not doing badly or as a matter of fact is doing relatively well. Over here in UK a lot of my colleagues are of the view that the government is playing politics with the economy. Foreign Investors are also getting this signal. This is surely not good.
Lets face the facts how often do you see the effects of a policy in 5 years. 5 years is a very short time in economic terms.
I'm sure Sanusi will come up with his, but it will come to null if he is replaced in 5 years.
As per my use of references, why bother, they are all over the place, Just a few like you and Yar'adua do not see it. I can continue giving you references for weeks. Good works speak for themselves.
Well it was a nice discussion while it lasted although I was sure you  had your mind made up like Yar'adua!

biina:
So your opinion of Soludo's performance in office is purely based on the judgment of others? No offence meant, but your constant echoing of unsubstantiated rhetoric leaves a lot to be desired. It is not difficult to evaluate the performance of a CBN governor, as one simply needs to look at the indices associated with his areas of responsibility.

You have dismissed academic archievements, international consultancy experience, awards and acknowledgements by renowned international bodies, and commentaries by dedicated Nigerian columnists, but now you want my personal opinion. Well as much doubt , I play along.

Awards are irrelevant because the objective of the awarding body is unknown, and the criteria used for evaluation are often unknown and inconsistent from year to year. That is why I asked you to pull up the names of the past winners and see if you can find an objective criterion for their selection or the process of nomination.

Global bodies all of whom have scored Nigeria low in almost every socio-political and economic aspect, now have their objectives under question. Award objectives are never constant but fall under an umbrella of expectations. Look at the Nobel peace prize as a wild example.

You said Soludo had been the best CBN governor we've ever had, and I was expecting you to substantiate that statement by giving details of his accomplishment in office as opposed to past CBN governors, rather you are quoting others and pointing to third party opinions.

Progress is a measure of the state of events between two points in time. (in this pre and post-Soludo era)
1.The average lending rate went down from 20.42 to 18.22 percent between 2004 and 2008.
2. The exchange rate of the Naira to the United States’ Dollar also came down from N132.75 to N116.85 between June 2004 and June 2008.
3. The Bureau De Change, BDC, rate within these periods decreased from N140 in June 2004 to N119 in June 2008.
4. Currently, the value of the Naira to the Dollar has depreciated by 24 percent at the official market as it exchanges at N145 to the Dollar. The parallel market rate is as   high as N180. With the advent of the Global recession .( All major currencies followed the same trend of devaluation against the dollar.)
5. The performance of Nigeria’s gross domestic product, GDP, achieved a steady growth between 2004 and 2008.
6. The latest estimate from the National Bureau of Statistics indicates that Nigeria’s GDP grew by 0.8 in 2008 compared to 6.2 percent in 2007. 
7. The rise in foreign reserve from $11.44 billion in June 2004 to $60.89 billion  in August 2008 attests to the positive impact of Soludo’s first five years on the economy.  8. The consolidation exercise also had a significant impact on the banking sector. It increased the total capitalisation of the banking sector from N315 billion in 2004 to N2.788 trillion in December 2008. Bank’s credit to borrowers grew from N1.133 trillion in 2004 to N7.8 trillion in 2008.
9. The number of bank branches also rose from 3,247 in 2004 to 5,247 in 2008. In the same way, the number of the foreign branches of Nigerian banks increased from seven in 2004 to 69 in 2008.

Don't forget keep your eyes on where things were before he started to when he left and not judging him by some hypothetical ideal which has never existed in Nigeria.

The guys that wrote the THISDAY article obviously feel that soludo did an exceptional job, and they are entitled to their opinion, but you should not echo such opinions as your own if you are unable to defend it. The fact that they had no criticism of Soludo raises questions on the objectivity of the article.

Well the absence of criticism raises questions but who doesn't have criticisms. But the guys focused on the positive and it was ideal for me because you asked for his achievements not his downsides.

1. Banking Consolidation: This is neither positive or negative in of itself as it only gave the banks more money to play with. The capitalization of a bank does not translate to profitability as is evident with failure of large banks in the US. FYI Soludo was not the first, and would not be the last CBN governor to increase bank capitalization. It is an evolutionary step and because Soludo caused so much ruckus with his implementation, does not make the effect any different from prior implementations.

1. But he is the first CBN governor to carry out the sweeping exercise in Nigeria.
2. The consolidation exercise also had a significant impact on the banking sector. It increased the total capitalisation of the banking sector from N315 billion in 2004 to N2.788 trillion in December 2008. Bank’s credit to borrowers grew from N1.133 trillion in 2004 to N7.8 trillion in 2008.

2. Offshore Branches: Offshore branches have been in existence before soludo's tenure. UBA and first bank had overseas branches since the 1980s while FBN got their UK license in 2002.

1. In the same way, the number of the foreign branches of Nigerian banks increased from seven in 2004 to 69 in 2008.(in 4 years as opposed to more than 20 years growth)
2. Keep your eyes on the rapid progress!

3. Foreign Investments: Standard Chartered was in Nigeria before Soludo, and Citigroup actually withdrew because of the increased capitalization request. So the foreign investment is neither here no there.

Haba ! Why are you like this. You did even not notice the huge spike in foreign investor activity in the Nigerian stock market. You cannot peg it down to two banks in two banks out.

10. Resuscitation of the Mint: After pumping billions of Naira into NSPM, the CBN has nothing to show, as they are far from attaining the set out objectives, and are now hiding under the core problem that should have been addressed - lack of electrical power (surprising? ). In fact the quality of production at the mint has dropped drastically as most of the staff are now casual/temp workers.

The apex bank transformed the institution into a profitable venture in 2007 and saved the country the disgrace of depending on importation to meet its currency needs. For now, the minting company is not only satisfying the country’s currency requirements, it has also started handling sensitive security printing works for the government and the private sector. The company has the prospect of attracting business patronage and investments from some West African countries. For instance, Ghana is said to be very anxious to do business with the resuscitated company. Before the CBN stepped in to rescue the mint, the administration of former President Olusegun Obasanjo had made up its mind to hand it over to foreign investors to manage.

Again Keep your eyes on progress.!

Anyone who quote figures and statistics in not just airing his own opinions.

biina:
The bankers magazine award was also given in January 2006, and thus could not be a true reflection of the performance of Soludo or his capitalization exercise.
I am still waiting for you to provide details on your earlier list, and not waste time with irrelevant award references.

The awards from IMF/World bank were questionable because a Nigerian is amongst the publishers. Now that I got an internationally acclaimed one with no known Nigerian among the publishers, you are dismissing them as irrellevant but to you sharia studies is relevant to the Job of a central bank governor.
Well why I still go on with you is that this is an open blog and we've got readers who crave for the true facts flat and square.

For my earlier listings read the following write-up published recently on one of the Nigerian dailies.
http://www.thisdayonline.com/nview.php?id=145031

Please I would rather you don't dismiss this as political, as soludo has already left office when this article was written, so of what use is it lauding him at this stage.
This article even sufficed some figures and dates to go with.
As they say. The good works of men live after then. I will supply you with so much references as they are all over the place both nationally and internationally.
Afterwards I implore you to come out with sanusi's glittering records including awards he might have recieved nationally. Or the effects he had (in results or growth etc) he might have had on the banks he worked for.
I challenged someone on this blog to put sanusi's resume side by side with soludos but that individual has since fizzled out.
You see quality is not a flash in the pan it is eternal. Awards, Academic and proffessional accolades may not independently confirm quality, but in combination, they indicate consistent quality.

May i add that the Bankers Magazines award was "Global Central Banker of the Year award" 2006.
Hopefully Sanusi would match that. Even though it's irrelevant.

@Jarus, with regards your write up you are right in many statements you made. The guy might have what it takes to run the CBN and deliver results.
But you drew attention to changing a winning team.
One major issue with Nigeria is not in its ability to draw up policies and strategies but in the implementation.
One major problem with implementation of these strategies from SAP,MAMSER,NEEDS, vision 2010, vision 2020, 12 point agenda, 7 point agenda and now sanusi's 2 point agenda, is the lack of continuity. Why change a policy or policy maker that is producing considerable results just for us to start all over again. Rather than improving on the already implemented strategy.
Every individual has his own idea on the way forward and they may all be valid ones but all this constant redrafting would not help.
Americas open market economy worked, Europes socialists leaning markets worked, even undemocratic, un-open market china is working.

George_D:
We are talking of a CBN governor, not a state governor or LGA chairman. Achievements should be based
on the economy not empty awards by questionable individuals.

The Financial Times "Bankers Magazine" has become a questionable Nigerian Political tool published by questionable Nigerian individuals. I guess so is the FTSE 100 index.
Some of you guys are probably traumatised by so much negativity in Nigeria or your just plain disillusioned!

biina:
I am not interested in your echo of political accolades. As per your list above, I would rather you be specific and provide details.

1. Consolidation: Firstly, Soludo did not consolidate the banks, rather the banks merged in a bid to meet the capitalization requirements. To the achievement itself, please tell me what problem 'consolidation' solved or what positive effect it has directly/indirectly had on the economy.

2. The Nigerian Mint: What aspect of the mint is the responsibility of the CBN and what were the achievements?

3. Electronic Banking Reform: List specific achievements. For example, did he introduce electronic banking? or what were the specific reforms that he enacted that were not evolutionary?

You call awards by known international bodies, based on  results, carried out on a yearly basis, irrespective of whether Nigeria has a CBN governor or not as political. You are amazing ! And you must be very good at deceiving yourself

Kobojunkie:
I am sure you may think you said a lot there, but believe you me, I have absolutely no clue what you mean. What has Nigerian education system to do with this please?

Kobojunkie:
Just for the sake of it, have you ever really taken time to review the resumes of most of those you have as politicians in Nigeria?@Adigun101. A large number of them were once Nigerians abroad, so please, let us not assume that Nigerians abroad are the key to development in Nigeria here. I say this because right from this because only recently some of the Nigerians here moved back to take up leadership positions back in Nigeria, and so far, it seems it is business as usual down there, but I hope there is change to come from the recent movers.

I supposed that comment did not mean Nigerians who went abroad on holidays.
I also supposed that the comment meant foreign tutored Nigerians vs locally tutored ones.

biina:
Absolutely not. Im not that petty. Just that I do not believe that the sharia thing is relevant. I saw it as absurd that it always kept being mentioned along side the guys qualification. (as the only first class and foreign degree he had)
I also noticed that this was due to fact that the resume is relatively lightweight so it was being padded up with an irrelevant qualification. Next they might add that he has a black belt in Karate.
Whether he is Muslim or not, the guy doesn't have as much a pedigree to run the CBN and steer the  Nigerian economy as much as his predecessor.
This guy has been the best CBN governor you've ever had . Take it or leave. His shoes are too large for this lightweight to fill. The performance of our financial sector (the only shinning light in our economy attests to that)
With Islamic banking and global recession, I wont even bother to comment on that. Other readers will just have to make up their minds on your level of intelligence
What has Soludo achieved as CBN governor that warrants him a second term? (Please take your time before responding)

I don't have to spell it out for you.(Consolidation)
Nigerian Mint (remember!)
Electronic Banking reforms.(Efficient Banking)

For his efforts in firming up the financial environment, Soludo received several accolades from both local and international organizations. At the 2005 Annual Meetings of the International Monetary Fund/World Bank in Washington DC, the publishers of the Annual Meetings Daily and African Economy Magazine awarded him “The Global Central Bank Governor of the Year, 2006” , citing the result of his financial sector reforms as unprecedented anywhere within such a short period of time.

What more do you need.

Affalatus:
@ Adigun because of Nigerians like you i will not forgive nor will i forget Soludo's Sins. I will expose all his crimes from 2004 to 2009.
You will run and hide your face. Adigun 101 shame will overtake you on behalf of Soludo from Deceit to Murder. You will hear facts and then as you kneel at the feet of your soludo a man you know not yet asking why. I will remind you of your text on this thread.

We all know his crimes against people like you. I dare you to spit it out ! I know you can't. Shame no go let you.

Kobojunkie:
Just for the sake of it, have you ever really taken time to review the resumes of most of those you have as politicians in Nigeria?@Adigun101. A large number of them were once Nigerians abroad, so please, let us not assume that Nigerians abroad are the key to development in Nigeria here. I say this because right from this because only recently some of the Nigerians here moved back to take up leadership positions back in Nigeria, and so far, it seems it is business as usual down there, but I hope there is change to come from the recent movers.

I know that people of your kind do not value the importance and relevance of education and hence, not aware that Nigeria's education system is REALLY inferior and not up to standard. Plus you will not understand the importance of industry/professional exposure which can best be attained in developed economies. Just have a look of the educational and professional profiles of all the executives of the biggest Nigerian companies and you will see that they are mostly (90%) foreign trained.
Plus the CBN governor is not and shouldn't be a politician.