₦airaland Forum

what time can we start checking for the results. Allah/God/Olowun please see us through.

My plans:

listen and watch islamic channels and radios as much as possible (planning to install Huda TV)

Give as much charity as possible hopefully give out something every day of the month

supplicate as much as possible

and i will think of the rest as the months come over

NB
get rid of a particular habbit.

thats the classic nigeria politics, we have myopic electorates who dont care to hold their leaders accountable, thus u have leaders decieving the masses more than once and still get re elected

I adapted this from another poster, lets cultivate the habbit of keeping our leaders accountable.

1. You Prmoised to rule for only one term (reference http://www.bbc.co.uk/news/world-africa-12339017)
As a man of your words or rather as you want to make us believe, PLEASE stick to this plan and pledge.
I sincerly hope we will not have political jobbers, groups like Youths Earnestly Ask for Jona, Dbanj, Lagbaja, Sunny Ade all singing for your second term bid? I sincerly hope also, you will not come out and openly deny you didnt make such promise or statements as you did about the zoning saga.

2. You promised a consitutional role for Traditional Rulers!!! I am short of words but Nigerians are waiting

3. On March 17th 2011, in Dutse the Jigawa statte capital, you promised:"If I win the election, within my four years in office, I will establish domestic airports in all the states without airports, WE ARE WAITING.

4. In Nasarawa, at the flagoff of your campaign you promised at least a university in every state including building specialist almajiri schools to shore up education in the North so as to eradicate illiteracy. The Almajiris are waiting o!

5. On February 8th in Ibadan, the day you called some people "rascals", you promised to create jobs and improve the power sector. The OYO people and indeed all Nigerians are waiting!!!

6. On Feb 9th, you were in Bauchi and you promised to intensify oil and gas exploration in the North-East as part of efforts to harness resources for economic development. Also you pledged to boost agriculture, power and water supply for wealth creation and revenue generation. Then you assured that projects such as the Mambilla hydro-electricity, Jada irrigation project and Kafin Zaki dam in Taraba, Adamawa and Bauchi would be pursued to boost agriculture and industrial development. Then you promised that your administration would establish two universities in the region. The NORTH EAST PEOPLE ARE WAITING,

9. You landed in Portharcourt on Feb 12 where you made alot of promises, maybe to woo your Niger Delta people. Be that as it may, you announced that the NNPC, in partnership with the private sector, would establish a petrochemical plant in the Niger Delta (you didnt state where exactly). You promised the plant will create job opportunities for the Niger Delta youths. Then you went ahead to promise the implementation of Local Content Law and Petroleum Industry Bill. In case you cant remember when you made all these, cast your mind back to the stampede that claimed some lives (where your wife called them martyrs).

10. In Kaduna- You promised massive transformation of the agricultural sector through construction of large dams and distribution of one million metric tonnes of fertilisers for the 2011 farming season (The rains are here already, so fulfil your promises o)
You also pledged to establish Almajiri model schools to address the challenges of the Almajiris.

11. In Benue-You promised to revolutionise agriculture and establish industries in the country through a five-year plan (We need that Plan now so we can keep track, the five years have started counting already)
You also promised to complete the irrigation project in Otukpo. Then you promised that the second Niger Bridge and the Benue Bridge projects will be worked on in the next four years. I think its better to start now so by April 2015, we trust you would have completed it.

12. February 17th, you were in Plateau where you made shocked the entire country with amazing promises. First of all, you pledged to refocus on the solid mineral development of the state and make it one of the key revenue sources in Nigeria. The Plateau people are banking on you.
Mr President, You promised to build more dams and complete ongoing ones, so as to boost agricultural growth.
In addtion you promised to complete the Vom-Manchok-Jos road to boost economic links between Plateau and Kaduna states. Yoy left the state and the Plateau people have been happy ever since and now that you have won, they are waiting

13. Mr President on Feb 21, you were in Kogi. You promised among other things promised that the dredging of the River Niger and Lokoja-Abuja road dualisation would be completed very soon. THE KOGI PEOPLE AND INDEED NIGERIANS ARE HOPING AND WAITING

14. In Kwara State on Feb22, you pledged that the irrigation project in Shonga would be completed soon to boost the commercial farming activities of the New Nigeria Farmers in the area. Mr president, remember you also said the Jebba-Mokwa road and Jebba bridge would be given adequate attention to ease transportation in the area. Kwarians are waiting!

15. On February 24, Mr. President, you pledged to rehabilitate ALL ailing industries in Aba. I believe all Abians are hoping on you to provide the enabling environment to do their businesses, you must keep your promises,

16. Mr.President, on Feb 25th in Anamabra you said there is a plan to build a power station in the state, assuring that within the next four years your administration would construct and rehabilitate ALL federal roads leading to Anambra as well as the South East. You equally to provide potable water to the densely populated Onitsha and Nnewi cities and tackle erosion in the South-East. To tell you the truth, Mr. President, Anambrians are banking on you!

17. In Ebonyi state, you promised to dualise the Enugu-Abakaliki federal highway in addition to establishing a secretariat for ALL Federal government's agencies and parastatals in Ebonyi. Mr. president, The people of Ebonyi has never had it so good since the creation of their state. Now, you have promised them the good life. Please keeep to your words!

18. In Niger state, you promised the more power generation. Perhaps the most important aspect of your promises is that your government would map out a five-year strategic plan for road projects. (Please we are waiting for the Plan NOW!!!!)

19. On Feb 27, you were in Asaba, the Delta state capital, which happens to be my state. On that fateful sunday, you revealed that “The NNPC is developing a new programme that will absorb about 5,000 youths, ”, Mr. President, Deltans are delighted at this REVELATIONS. While that number is a far cry from the number of unemployed youths in the state, at all at all na winch (as we say in Warri), so Deltans are waiting.

20. On March 2nd, you were in Ondo where you pronmised that roads and other basic infrastructure across the states will be developed in four years. In addition you also promised the exploitation of the vast bitumen deposits in the state for national economic development and employment generation. The Ondo people are waiting. Your Four years have started already. You must start now.

21. On the same day, March 2nd, your campaigbn train was in Ekiti state. While there, you promised that more than N50 billion federal intervention projects were ongoing in the state. You can be rest assured that the Fayemi and indeed the entire Ekiti kete are waiting for you.

22. On March 9th, in Sokoto, you promised to rehabilitate the abandoned Shagari irrigation project as well as reviving the nation’s rail system and figh the menace of desertification in the country. Sokoto people have sufffered for too long. This is your time to redeem your pledge, Mr President. The clock is ticking!!!

23.The date was March 12th 2011 and you were in Ogun state.
Remember, the day you rode to Abeokuta through rail?
Yes, That was the day you promised an improved power supply before the end of the year through the Integrated Power Project (IPP) initiative.
You also pledged to build more refineries, encourage downstream activities, resuscitate rail transportation and create jobs. In case you have forgotten, that was the day that Gbenga Daniel (your South West campaign coordinator was booed by the Ogun people).

24.On March 14th, your campaign trained moved to Kebbi where you promised to establish a federal university next year (2012). You also promised to create jobs through science and technology, tackle environmental challenges and boost health care delivery.

25.Katsina, was your port of call on March 15 where you promised to enhance the living standard of Nigerians through implementation of people-oriented programmes that would provide citizens the necessary opportunities to realise their potentials.
In my opinion, this was just mere rhetorics as you did not make any concrete promises. or did you have the premonition, you will lose in Katsina? I might just be right.

26.In Kano, you pledged to resuscitate the nation’s power sector and encourage the development of small and medium scale enterprises in the country while ensuring justice, equity and fair play in the polity.

Mr.President, Space will not allow me to list the deluge of promises in Lagos, Osun, Borno, Cross River, Akwa Ibom, Enugu, Imo, Taraba, Jigawa, Edo, Bayelsa and Zamfara states. If you can accomplish all your promises in the next four years, then you will go down memory lane as the best President ever.
In all honesty, I wish you GoodLuck!!!

ADAPTED FROM A GROUP'S PAGE ON FACEBOOK

londoner:
I was born and lived through an era in the UK, where the IRA bombed almost every two weeks, they were known and reported as terrorists at the time.

If there is full coverage of Muslim terrorist activity, don't expect ANY sympathy from me.

The actual Muslim terrorists love it, and all the attention they get as well as being labelled by the west as terrorists.

@OP, I think you will find that many media outlets in the west labelled this a terror or terrorist attack. So, maybe your point is not altogether factual.

i dont expect any sympathy coverage for criminals who happen to be muslims, and infact most of these crimes r political steming from middle eastern conflicts (get that point ) and yes most western media called it terrorist while searching for a muslim/alqaeda link (infact the so caled int'l media reported feticious jihadist claim of responsibilities) but now that the guy is norwegian, media coverage is dying down or toning down the terrorist rhetorics to lunatic, lone assailant, madman disturbed individual etc.

my point again call a spade a spade.

^^^
this guy announce that he is christain fundamentalist who wants to cleanse europe of muslims, i doubt if thats killing for buddah's sake!

anyway i dont in justify his cause all am saying is call a spade a spade rather than find excuses not to.

and for pple on the issue of celebrating terrorrists, only those who perpetrate the act and their supporters do but not islam or the majority of muslims. and u need to also understand the political nature of these things, most of these violence which u conviniently ascribe to islam has some political undertones, like something to do with US and european involvements in middle east and bla bla bla, ,,,

i could go on and on, but lets not loose focus, there is some bias in coverage of global conflicts which is why fridays attack was rushed on islam rather than fully investigate.

^^^
My guy this guy is linked to a far right political group who advocate violence against immigrants. infact the last i checked he supposedly published documents online on friday on his cause and how they want to go about acheiving it.

now what do u call that CHARITY ATTACKS?

FYI lot of far right media had already started blaming their minority muslim population even without preceedence. and trust me they r using muslims as smoke screen what they are after is an anti imigration policy to lock out africans and middle easterners, both xtians and muslims

good question regulations should be in place b4 license, but in instances where they r not, there is need for formulation one. Hence the case for what sanusi is doing. u get the logic. (besides these frameworks been developed were started by soludo b4 sanusi, sanusi is just completing and adopting them).

am sure if u know finance u will appreciate the following:

am very sure our financial rules vaguely approves derivative trading, now but there are no detailed frameworks of operation, thus the non existence of derivative mkt in the 9ja capital market. (derivative are securities derived from other securities like 'collateralize debt obligations', 'mortgage backed securities') now if all of a sudden SEC approves derivative trade like credit default swaps (which in lay mans understanding is i borrow from A but hold B responsible in case of default) without formulating guidelines the market will eventually collapse because every chua chua investment house will start using their financial engineering skills to churn out derivatives without taking into account the structural stability of the product or the market as a whole. I hope u get my point.

BTW I can argue that it is the above scenarios that led to the US and global financial crisis. Even the robust US rules failed to appreciate the risk of these products and market players kept transferring risks from new york to Tokyo to Frankfurt, London and back. and at the end of the day a mere panic almost collapsed the entire global economy.

Thus rules had to rewritten and on areas where there were no rules (like hedge fund regulations) new ones had to be agreed on.

So u see why the need for the regulations by CBN?

dude you should be telling that to the dozens of racial and ethnic comment posters all over this forum. or haven't u noticed?

you would think people will understand this simple logic:

we need rules to regulate mortgage banks

we need separate rules to regulate commercial banks ( even the capital requirement and capital adequacy ratio require ment are different)

In the same vein we need rules to regulate islamic banks (note the so called JAIZ bank was given licence to operete b4 sanusi, but no operational guidelines existed now the guidelines are been set)

sanusi made a briliant point he said its not up to the CBN to publicise islamic banking but up to the industry players like JAIZ, stanbic etc, the cbn just set rules. but pple stll ask the cbn to educate pple more (although sanusi did educated people through his house address)

and if i may ask why cant CAN just invite the CBN governor am sure he will gladly accept the iv

Why is it that when a criminal who happens to be a muslim commits a crime it is associated with islam, But when another criminal who happens to be christian commits a crime its not associated with christianity. (note the suspect in the norwegian case admitted to police of being a 'christian fundementalist')

Thats the same problem we have in 9ja, a year and a half before the elections when the BH menace initially resurfaced i used to work 100km from maiduguri, then they were killing islamic scholars who preached against them and going into mosques and shooting pple. But u hardly see those grabing headlines then,

My point here is a wrong is wrong who ever commits it. Lets stop the cheap politics going on now with our national security.

i agree , a friend of mine moved from fcmb to stanbic then to a federal university.

by shortlisting i suppose u guys mean a mail they sent out in form of questioneers? if so how sure r u the nxt stage is interview? or did u guys recieve another mail?

Thank youy akainzo for such detailed refutes to such childish allegations.

BTW lets start a trend! state your dicipline/field at the end of ur post please. this will enable the learned ones here to respond adequately and will also let us know if u r ignorant, sincerely concerned, or just a jaundiced bigot

abeg forget all this hypocretes trying to be holier than the pope, even the vatican recomended islamic finance. and the same europeans who brought xtianity have islamic banks lining their high streets. so are nigerians now more xtian than europens (trust nlanders some1 will answer yes)

u here things like 'we r not opposed to it just the name islamic' well for ur info thats what its called worldwide. OR 'u know nigeria is very sensitive to the word islamic' since when? u made urselves that way, so change ur mentality.

stop beating round the bush and argue with merit.

this is the most sane thread on this topic i have seen am really impressed, even though I dont oppose the islamic banking i have learned a lot from this thread,

But trust nairalanders wen they wake up 2morow morning u start seeing things like , ayatollah, bokoharanomics etc.

i fail to understand the cheap political points those clamoring for divide think they make. BH attacks and kills mostly fellow notherners and the solution is divide the country? u guys are no less cowards than BH.

yes dividing the country may make 'sense' for other problems but stop using BH to advocate for your narrow minded needs. U either profer solutions on how to tackle the menace or keep shut.

MINIMUM WAGE: food per plate= #200 eaten 3 times a day for 30days equals #18000 per month, Wat of allowance 4 shelter, clothing & transport? Wat if one has dependants?

is it me or is someone, somegroup or some outsider trying to sell the idea of dividing this country at all cost. Coz except every one in this country is outrightly dumb these are questions we should be asking.
1 why isnt our government telling us anything about the containers of armunitions intercepted sometime last year. trust me this is not hard to trace except there is something hidden from us

2 how did the illetrate BH which the yaradua regieme chased arround maiduguri and killed like insects suddenly become special ops squads striking at will with military precision and no one in the entire country can put a face on them

(this two points make some think of foreign collabo)

3 why is our government doing nothing YET, r they waiting for a point to be reached ?

4 AM sure you guys also have many, many more questions


YET thre are no answers. Am not trying to imply anything here, but what good is it to divide a nation and have an unstable neighbor. do u guys advocating for this think at all, or r u a buch of teenagers

is it me or is someone, somegroup or some outsider trying to sell the idea of dividing this country at all cost. Coz except every one in this country is outrightly dumb these are questions we should be asking.
1 why isnt our government telling us anything about the containers of armunitions intercepted sometime last year. trust me this is not hard to trace except there is something hidden from us

2 how did the illetrate BH which the yaradua regieme chased arround maiduguri and killed like insects suddenly become special ops squads striking at will with military precision and no one in the entire country can put a face on them

(this two points make some think of foreign collabo)

3 why is our government doing nothing YET, r they waiting for a point to be reached ?

4 AM sure you guys also have many, many more questions


YET thre are no answers. Am not trying to imply anything here, but what good is it to divide a nation and have an unstable neighbor. do u guys advocating for this think at all, or r u a buch of teenagers

My main man, only guys into CFA knows what it is to stand on this podium, abi I lie, where r CFA's at.

we need to realise that interest free loan is just one aspect of islamic banking, there are other aspects like IJARA, MURABAHA, MUDARABA, SUKUK etc. it will be good if u found out more about all these concepts then u will realise islamic finance is as complex as conventionaL finance

i dont believe that is tru. we have enough philosiphy and other diciplines in Africa. I was in a brith library and i found a book writen on governance by usman dan fodio, now this was b4 even the comming of the british, and i was made to understand there were lot of book he authored which they have. now that made me proud. now u cant find this even in our national librraries.

I believe this argument is been skewed the wrong way. @alh harem @all firstand foremost the CBN is not sponsoring any bank, it is only creating a regulatory frame work for the bank to operate. lets get that right, if the proposed bank fails to meet CBN requirement in any form it will have its licence revoked.

from what I read here we all just debate like bunch of kids with no objectivity, i dont mind anybody raising non sentimental concerns. You here arguments like;

1 Q. why call it islamic and not non innetrest.
Ans. As some one said for crying out loud thats what its caled worldwide, why should nigeria b an exception,? because we r bunch of emotional jundiced retards? nah, we r better than that

2 Q. She said non interest not islamic.
Ans. so what every one knows what she was asked and what shes talking about! Had she said ISLAMIC then u start hearing folks saying; 'enhh, the islamic she's talking about is spelt with an E and not I.' common guys WTF

3 Q. There are non interest account already existing
Ans. Islamic finance is not just about non interest loans. there is IJARA, MUDARABA, MURABAHA, SUKUK etc, common guys if u can afford to post crap online atleast u can do ur self some favours by finding out more about islamic finance,

dat july 26 dey fear me o, b4 i used to say i dont mind if i no pass level 2, i go rewrite, but now i don dey mind wellu well,

one thing i have noticed from the discussion on interest free banking here is that, if u set up a thread to attack peoples personality, religious analysis or ethnic finger pointing then every one is an expert and has something to say, but when you ask for objective analysis on pressing issues then every one keeps quiet,

BTW, i just read on one of the papers today prof Pat Utomi given his informed take on the subject, quite interesting, I wish the the religious leaders will keep quiet and let the experts debate this issue by telling us the benefits and costs of the proposed system, just my thought.

good question why call it islamic banking? so far from my readings and research only islam has has a well structured theoretical framework for non interest banking, i dont say others dont exist but not as detailed conceptually as the islamic model. hence the synonymic nature of interest free and islamic. Now if u have a problem with just the name, that i cant help u, but if ur problem is in the conceptual framework or technical operations i believe we can talk more and there r lots more pple who can talk on that here too.

now on the issue on just being a department of the bank, i think that will be a fundamental contradiction of principles. non interest banking under islamic finance dissociates itself with any direct and indirect dealings with interest (paid or charged) and the proceeds there from. thus u see the contradiction of having it as a department in the bank.

here is a quick example i used to be with stanbic (there is the bank, the pension managers etc) now stanbic pension was forbidden according to P E N C O M to have its office within stanbic bank, as the pension arm is supposed to be independent of the bank. In fact in my region b4 the stanbic pension office was built, the staffs had to have their offices in Zenith bank even though the stanbic bank could accomodate them (the zenith guys kept complaining they dont want stanbic guys in their bank but they could do nothing it was pencom rule).

in light of above i once read a cbn directive on conventional banks wanting to partake in islamic banking would need something like an entire branch seperately for that just like the pension saga.

i think this is to protect unsuspecting clients from banks selling products that r just islamic by name and not in nature

@olumide i think the system if well regulated is robust enough can accommodate big corporation given every body's mtivation to engage in interest free banking differs.

As u said small biz and individuals might be motivated(although there r other motivations) by cheap credit and straight forward mortgages. the big corps also have their unique needs and risks to hedge against, say currency fluctuations especially for multinationals. Islamic finance has a different approach to Forex trade. Although i dont think Nigerias islamic finance involves islamic derivatives. as derivative trade is virtually non existent even in our conventional model.

Bottom line i think the ship is big enough to accommodate even the big boyz in biz

as somebody said in another thread islamic finance has transcended religious discourse thats why it is been treeted under finance and economics in western universities and not religion.

now on your question of the focus of finance being interest/gain. Although u r not entirely wrong but u would be more correct if u look at the focus of finance on a risk/reward basis. that is reward (expected/mean/average return on investments) and risk (volatility of these returns)
now on the above note islamic finance views risk/reward relationship from profit/loss aspect (strictly return on investment) while conventional finance is more focused on interest as u said, but thats not its only focus.

i hope that helps.

i think one advantage of this model is that it will help banks tap into the unbanked population especially as most of the grievances has been about interest (either charged or paid).

NB i just heard stanbic has been licenced for interest free banking i wont be suprised if they out do the so called J A I Z islamic bank, as stanbic already has a deep understanding of islamic finance from their mother ship- standardbank southafrica. but we shall see.

the agbero type and upside down arguments and analysis going on this days on the above topic in nairaland has made me questioned if those comenting have the slightest understanding of finance or economics. These arguments confuse even me, even though i have Bachelors in Economics Masters in Finance and Investment and a C F A second level.

hence i set up this thread for only financial and economic views P L E A S E no religious or ethnic analysis (there r more than enough threads for those)
consider these as guides to the discussion.

1 what are the economic impact of interest free banking?

2 Quotation should only be from accademic sources (e.g President of Bank of England, Nouriel Roubini) and not religios (Pentecostal Bishop or Sokoto Imam)

3. Be objective as possible

4 If u cant fulfill the above just read, learn or ask, but dont post rubbish.

so guys let he who is without sin cast the first stone,