₦airaland Forum

manny4life: Forecasting is part of every business, I'm not talking about forecasting, I believe I was clear about what I was talking about.

Your ignorance is baffling Risk is embedded in every part of an organisations activities and system including forecasting. Go and get a proper knowledge. You think the Banks in the Eurozone don't sit analysing macroeconomic trends and risk daily? You are not sound enough. What school did you attend? LASU Agege campus?

manny4life: LOL, it looks like someone doesn't want to start from the thrash I posted for him to teach on

When someone cannot refute a claim, all they do is try to make jest of the situation. Again, quit the jest making and begin the teaching...

Faint? Just like you did on the previous thread where almost everyone on there attacked your stupidity? Risk managers perform macroeconomic analysis? LOL The only one who fainted was YOU... I will find that thread again, and make ref to this one so people can see how clueless you are....

Only because you are a block head would you not know banks carry out economic forecasting and macroeconomic analysis as part of strategy. Go get a proper education and stop fooling yourself. Where did you study please?

manny4life: LOL, you're asking where to start from?
Good Instructors don't ask where do I start from, rather, they see the weakness, and the flaw, and educate from that area.

You mean the thrash that debunked all your claims? How can a bank measure aggregate saving without knowing national income average, meanwhile, mr monetary policies in developing countries did not know that savings are part of the Money Supply which is a function of CBN.

You mean thrash where I educated you that the Exchange Rate depends on demand/supply of currency? Mr monetary policy did not know that rather he gaffed, that it's government spending (fiscal)that's a determinant for Exchange rate.

I mean I can go on and on and talk about the thrash you talk of. Perhaps, we can start from any of the thrash

It is so funny you write lengthy posts full of nonsense. You've written trash again. You don't even have a basic knowledge, yet you are an arm chair critic. How stupid! The first place to start is to tell yourself you know nothing. This kind 'bolekaja' analysis go make man faint. Please are you a product of LASU Agege Campus?

manny4life: Yeah, it's only an instructor who's scared of a challenge from his students that balks at every turn...LOLLLLLLL Leave me to determine whether I get it or not. Start out with the teaching first, then we'll take it from them... Run like your boss does...

Like I said, I don't teach block heads. It took me time to learn the basics of monetary policy in developing countries. Get a basic knowledge so you can understand the basic issues. You wrote a lot of trash that clearly shows you are not sound enough, so where do I start from?

manny4life: Well ignorance is bliss, therefore, I'm calling you out to teach me.

Teach a block head Won't waste my time.

manny4life: Well, since I did lack the basic knowledge of REER, perhaps you can begin to teach me...

Perhaps, I think I should maybe consult Google on this one because I'm a lil discombobulated on this one.

Ignorance is bliss. Like I said hit your head on the wall if you don't like him and his policies.

manny4life: How can you educate when you don't have the knowledge? Just like your boss, run along... LOL



Professionals have debate, so why did he not answer NASS CALLS on 3 occasions rather he sent Dr. Muoghalu? When Soludo debunked some of his so-called claims and wrote an article, what did SLS do, he balked... abeg, run like your boss.

Did NASS insist he appears? Why are you full of poo?

manny4life: Internet? LOL, dude, I don't do that Google sh/it, believe me (you don't have to) I sat in several economics classes and passed each one. What economics student don't know about Balance of Trade? Import or Exports? Like dude, that's what they teach you in Intro to Macroeconomics. In Macro, you learn all these, including government spending as part of it's fiscal authority, including but not limited to tax policies, EXIM policies, commerce, trade, et al

I should say you're the one who went to the internet and pulled all of that out and I debunked each and every one of them.

You sat in several economic classes and you didn't learn what REER is all about? Seriously this is wasted money, you are not sound enough. You've wasted hours writing what does not make sense, I can't even put your trash together.

manny4life: Professionals don't do that? LOL, ask Bernanke how many times has he defended his polices? Perhaps, you need to pick up some financial journals or newspapers like the Financial Times and read. Financial leaders in Europe, their nations at the brink of collapse, amongst their peers, defend their policies with pride and raise their heads high... Shioor.

What's the use when your boss cannot come out for a simple debate on his policies? Perhaps, a debate also is unprofessional as well? I hear that from weaklings but real people don't run away but stand and defend their policies MOST IMPORTANTLY amongst their peers... dig that.

Professionals have debate but don't challenge themselves. Seriously who are you challenging?

manny4life: Lol, you've finally confirmed by concerns about you.


1. Firstly, FBN is an international bank, yes it is... Just like investors, traders et al are subject to ER and risk but it does not mean they like FBN calculate "Macro Economic Indicators". That is the job of the Central Bank/Federal Reserve Bank. The FBN depends on the CBN's data to make their own decisions. Get your fact straight.

2. My friend, STOP making jest of yourself, exchange rate is exchange rate. Whether it's for banks, traders, importers, investors, ER is ER, period. What is there to understand if the bank buys FOREX at 159.20 and sells at 159.22, that's a 2% points. No one is saying no to guard yourself, what I'm saying is it's not banks who decide, or come up with an exchange but the CBN... Again, get your facts straight.

3. You keep talking about macroeconomic, like dude, seriously , STOP. There's only one macroeconomic and that's in economics. Banks and its risk mgmt team should concern themselves with the financial framework of their assets with relevance to economic results not analyzing raw data of macroeconomic trends.

Lastly, dude I perfectly understand what hedging means, I was only unsure if you understood what it means. I ONLY asked a question, in your example, WHAT ARE THEY HEDGING? Even someone who knows it all, still ask question when they're lost and I need clarification. I'm not running away from it, but I'm here.

I will not hate on the man skills when he has none. How can I hate on someone who has Masters in Islamic Studies? How can I hate on someone who head a Risk Unit and lobbied himself to be CBN governor. If I'm to hate at all, I would hate on people like NOI and SOLUDO who went to Ivy League Universities, headed large institutions, have extensive and direct experience including consulting work in their field of expertise, have written articles, memos, recommendations in the field of economics. I mean, it will make sense to hate such people, not someone who cannot go head to head with his own peers, someone who balks when they ask him to defend CBN's position on the global economy, someone who attributed North Terror (boko) to oil derivatives.. shioor

POO again, I won't waste time educating you further.

manny4life: You are so confused that you're just placing your hands everywhere to justify the thrash you've been writing. An effective exchange rate doesn't take a look at Government Spending (fiscal), but reflects MAJORLY at its main component ---The Balance of Trade (NX) - Imports/Exports volume of the trading nation as well as other fiscal components.

With this line I can tell you are a block head. You probably went on the internet to read a few lines in order to make a point. However, you don't understand what you've read. You are a danger to Nigeria because you would go confusing people with your ignorance. Once again, get a proper life and stop hating.

manny4life: @ballabriggs:



You're right is ahead of me, but how many times have Soludo challenged him? I never saw him reply his challenges after him. How many times has he been summoned to NASS, he balked and sent Dr. Muoghalu, someone who's 10x inteeligent than him. Go compare him amongst his peers Soludo, NOI and the rest, let's see where he stands, should to shoulder amongst them.

That is why you are a low life. Professionals don't do that. Only low lives like you expect professionals to go into a contest. Soludo may criticize and disagree with him but does not challenge him. That does not mean we all agree with Soludo or we all agree with Sanusi's policy direction. It is professionalism at play.

manny4life: There you go again, using terms you have absolutely no clue about.

Wait, are you referring to devaluation of currency with respect to its exchange against other currencies or do you mean devaluation of exchange rate? You see, when I say you're confused, there's no hard feelings to it.

Here you are again, talking about REER, dude seriously? REER simply means what your currency ER is with respect to other trading currencies in real time. That is the job for folks at CBN to report Real Time Exchange Rates based upon volumes of trades and real time indicators NOT banks.

You are so confused that you're just placing your hands everywhere to justify the thrash you've been writing. An effective exchange rate doesn't take a look at Government Spending (fiscal), but reflects MAJORLY at its main component ---The Balance of Trade (NX) - Imports/Exports volume of the trading nation as well as other fiscal components.

It is the JOB OF THE CBN NOT FBN to monitor exchange rate in real time. It is also their job to monitor other economic indicator NOT FBN. Like I previously stated, financial managers use economic results to make decision, BUT it's not their job to monitor, calculate raw data of the nations economic trends like you stated. Like dude, give it up already.

You use the term "hedge" so loosely that it make me question whether you understand what hedging is and if you know that it's a finance term.What has debtors and creditors got to do with this? This is the reason I said you're confused. Hedge what exactly? Exchange rate? or the Debt? Really? I knew investors, capitalist, Investment Banks, Securities firms, Brokerages etc hedge against commodities, securities, foreign currencies prices etc but I never knew they hedged against debt and Exchange Rate... I learn something new everyday

Honestly, you I doubt you studied basic economic in school. One of the core functions of the Central Bank of any nation is "Money Supply", in the Money Supply Equation, deposits (demand, savings deposits, CD's etc) are components for measuring flow in the economy.

It begs the question are you really this smart? Again, measuring savings based on income levels is the Job function of the CBN NOT FBN. Get your facts straight.

You've tried real hard to make sense out of your nonsense but you are still lost.

Firstly, FBN as an international bank holds its assets not only in Nigeria but in different countries around the world and so it is subject to exchange rate and macroeconomic risks.

Secondly it takes an understanding of the REER to know the ultimate direction of monetary policy by the macroeconomic managers. If you don't understand it how do you guard against exchange rate risk. How do you guard against inflationary risks? How do you guard against interest rate risks?

Thirdly, risk management involves understanding an entity and its environment. As a bank if you don't understand the macroeconomic framework you operate in, how do you manage potential risks.

Lastly, go and find out what hedging means and stop displaying your ignorance. Look at someone who does not understand what debtors and creditors mean to a bank. You remain a low life, keep hating on the mans skills and experience till you die.

Blame Furo Iyenemi and Eddy Dombraye for this result. The team was good till they got invited and started playing.

Use to love the Super Eagles till Furo Iyenemi destroyed it

manny4life: I know what you're problem is, you're inclined to speak big economic words, YET, you lack the knowledge to defend what you say. Once again, you have spoken like a true seasoned (go figure). I asked you before, PLEASE, tell us what "Macro Economic Trend" he was analyzing at the bank when he was either Risk Officer or Finance Director? All you're doing is shying away from the question.

You're so quick to talk about monetary policy, YET, you gaffe at every second. Here you are again, monetary policy where part of the banks portfolios are held, like WTF? Again, are you on cheap crack? So your argument now has added another phase - he's analyses monetary policy right? Dude, PLEASE STOP ACTING IN IGNORANCE. When you analyze risk in assets, are you not talking about financial ratios (liquidity ratios)? Perhaps, other ratios including L/OE Ratios?

I know I (we're) ignorant, but please tell us what kind of analysis of bank assets and portfolio that is done with GDP and income level of the economy?

It's ONLY in Nigeria where someone with an MSC in Islamic Studies holds a CBN position meanwhile Bernanke and others in developed countries hold ADVANCED DEGREES with STRONG EXPERIENCE in economics not risk management.

You are deeply ignorant. What tools would an international bank such as FBN use in analysing the likelihood of a devaluation in the exchange rate in order to hedge its assets against this risk? One of the macroeconomic analysis tools used is the Real Effective Exchange Rate, using inflation, interest rates and the nominal exchange rate. It means taking a look at the pattern of government spending and other macro-economic indicators. FBN has creditors and debtors around the world and would take steps against exchange rate risk part of which is the hedging of its funds. In your shallow mind they would walk to the Airport Hotel and ask the 'aboki', "how much would he be exchanging dollars tomorrow?". In addition banking is partly about accumulating savings, does savings come without an understanding of aggregate income in the economy? Is it that you don't understand what monetary policy instruments are? Keep displaying your ignorance.

Lamido Sanusi is miles ahead of you. You've not even started your journey and I don't think you would achieve quarter of what he has achieved.

manny4life: Where you not the same person who gaffed the other time on a previous thread about SLS performing macro analysis? Dude, please, do all of us and STOP exposing your ignorance. I don't know how many "seasoned/experienced Economist" you find in businesses. You're right about the skills and experience and a foot in the door, part of the skill part, begins with education. Well known economist around the world hold Advanced Degrees in their various fields.

SLS as a Risk Officer/Finance Director position does not relate to performing economic analysis. True that some part of finance in theory is related to a minute portion of economics or perhaps, but a finance director IS NOT an economist. Financial managers do apply some economic results in their business decision making, for instance, interest rate can be very helpful in investment decisions BUT The job of a finance director is NOT to analyze macro economic trends, like seriously, are you on some cheap drugs? The job of financial manager/director strictly involves around the BIG FOUR components (Planning, Organizing, Directing an Controlling) the financial activities of a company. These functions may include Asset(L/OE) Management, Investments, etc.

Financial Manager/Directors DO NOT analyze economic trend, better yet, you can give us better clue what economic trend he analyzed or better yet, you define for us what macro economic principles are and their trends. ,I guess he analyzed GDP components(Imports/Exports (NET), Foreign Investment, Govt Spending etc) or was it Regional/Labor(Unemployment, Growth, population (all indices) etc ) or was it the fiscal components (Govt policy, taxes, interest rates, inflation etc), like seriously, which did he analyze?

You wrote a lengthy post full of crap. Firstly, economists focus on different areas of the study, from monetary policy, finance and banking, microfinance, labour and industrial relations, trade and international economics, energy, political economy through to economic analysis of projects. Economics is a wide study and is not limited in scope.

It is silly to think a risk officer in a large bank has no knowledge of monetary policy instruments where part of the banks portfolios are held. It is ignorant to think in anlaysing emerging risks on a banks assets and portfolios, no analysis of macroeconomic data is done including GDP and Income level of the economy.

Quarter of the skills the man possesses, I can bet you don't have it. It is daft to think an Economist who has risen to become the Governor of the CBN is not seasoned enough. Some of you can't dream of being on the board of the microfinance bank in your community yet you think a man who grew on the board of First Bank has no competence. How f00lish.

Like I said if you want to hit your head on the wall you can go ahead, the man is not out to impress you. He has grown in his professional life. His skills and experience can be seen by those who know and not low lives like you.

RoadStar: Yea, lower minds like me with an MSc in a UK university and have working experience in a global financial company don't know his worth.
I do apologise, the word seasoned means different things to different people obviously.
You are a seasoned ignoramus.

Who cares if you've an MSc from the University of East London. If you were a true professional you would know what it means to respect other professionals. If you were a true professional you would know what it means to grow as a Finance Director in FBN. Get a life and stop hating! The man is not your rival, he's not out to impress you and he does not care what a low life like you thinks of him.

RoadStar: Sanusi DOES NOT have a Master Degree.
This is the one of the most openly pedalled lies on a public official in Nig history.
As far as economics is involved he only has a Bsc



Seasoned economist who has written no books no articles
I no fit shout !

Laugh at your ignorance. Only in your ignorant mind must an economist write a book. Do I blame you, when you don't even know the meaning of the word "Seasoned". Like I said you can hit your head on the wall, the man is not out to impress you. He is an achiever and only higher minds know what he is worth.

Only ignorant people think every top economist must have a PhD even when not an academic. There are Economists in business too and they are not lesser Economists. As an Economist in business you grow through the skills and experience you gain on the job. Lamido Sanusi spent years in Banking as a Risk Officer and then grew into a Finance Director in one of Africa's largest banks. To grow into such roles takes a lot of skill and experience as part of the job relates to monitoring and analysing Macro Economic trends. Lamido is not out to impress you, therefore stick it in your head that the more you try to bring him down the more you expose your ignorance.

Respect to a seasoned Economist and Finance professional. Let the enemies hit their heads on the wall.

1.4 million jobs? Seems the cassava bread is making these people loose touch.

SMEs engine of growth? I laugh in Spanish.

Shell is still a pain on my community and we have a man from the Niger Delta as President for over two years. We have Oronto Douglas who was a Niger Delta 'rights activist' as his Special Adviser on research and strategy- whatever that means- yet we cannot guarantee the safety of our environment. How do we push our cause when Jona eventually leaves power? Who would listen to us? Sack Oronto Douglas now!

What happened to the Dike's committee report set up under 'Obusanjo', have they implemented half of the recommendations of that committee. Another chop-I-chop committee, I respect Captain Obakpolor but doubt how fruitful this would be.

This type of empowerment should be given to his consultant doctor at Okija and not the youths of Abia.

Whether it is Buhari O or Sai Baba O, I don't care. I just need someone to help me get Oronto Douglas, Omokri and the other rogues out of Aso Rock.

Kobojunkie: No need. . . It is just OK that you know that we are not discussing the same thing here. And I think it best we not derail the thread any further.

China has got strict laws that has aided its development. People scream China and growth but do not realise the pain it has taken to achieve this. For example China's one child policy has aided its economic growth. This is in line with Solow's economic growth model where population growth rate is emphasized in aiding economic growth. Imagine the government telling me how many times I should impregnate my wife. It may not be right to some, however for China this has been critical to economic growth. Let the West save their trash to themselves. It is a known fact that slavery contributed immensely to their growth and development. Was slavery liberal in thought? What we say here is that at the initial stage of development of most countries did not go the liberal way. It is important for the state to sway the economy to the intended direction and then we can talk of liberalism.

Kobojunkie: I wholly disagree with you. We are definitely not talking the same thing here. The Chinese people are about some of the most mature people on the planet. You cannot compare the average Chinese person with the average Nigerian person . .. completely on different levels, intellectually and in reasoning.
What is happening in China is something completely different from what we are on here. In much the same way you cannot compare the situation where you have a Parent lovingly correcting a child with the cane, and an out of control parent who beats their own whenever the frustrations of life get to em.

If I'm to get you right, how does the average Chinese person reason?

Kobojunkie: Well, then they probably need to be treated like children until they get it. And when they do finally get it, it is OK(not hypocritical) to be liberal with them then.

Now you are coming back to your senses. China I know would eventually be a liberal state because they are very intelligent people. However, at this initial stage of development, where citizens are not mature enough to make economic and social decisions, liberalism is a no no. Even in the liberal states today, regulation is being emphasized to guide and protect the economic and social decisions of citizens as the economic and social space becomes more complex.

Death on every corrupt human being. Death on those who collect money while Shell destroys my environment.

These useless lawmakers, have they passed health and safety laws in their own jurisdiction? Till then, this is another 'cassava bread' reaction.

Oh God of mercy, how did Nigeria get into this poo?