₦airaland Forum

@debosky
Am not sure you are familiar with the lax supervision and poor maintenance culture that plagues various sectors in Nigeria. Many will still remember the ikeja cantonment bomb blast and the attendant loss of lives.
We simply dont have the infrastructure and culture in place to support a full size nuclear reactor, and there is no immediate need for it as we have enough fossil fuels to meet our power needs.
I am fine with planning for the future by creating the relevant labs and carrying out research, but we also need to improve the health sector (not sure we can detect and treat radiation poisoning in Naija), emergency response etc Lets walk before running at breakneck speed.

tpia.:
sanusi is making allegations against these people using the media, but they do not have the opportunity to defend themselves.

They're being tried twice- once in the court of public opinion through the media, and again in the courts.

If the judge eventually considers the case and finds nothing that tallies with the media circus, who is going to accept that ruling?

Allegations? The evidence is clear including the outcome of the CBN audit (or are you accusing the CBN auditors, SEC officials, etc of complicity as well).
Sanusi is not trying anybody. He did his audit and has taken the actions he deemed necessary i.e.firing the executives. Criminal proceedings (if necessary) are up to the EFCC and the justice ministry. Sanusi is not the one charging the executives to court.

As to defending themselves, if they feel that Sansui is making false allegations, the executives are free to sue him for slander and/or sue the CBN for libel. i am yet to hear of one such lawsuit.

Accepting the ruling of the courts is dependent on your views of the judicial system, and not dependent on Sanusi views. If you feel the system is fair you will accept the ruling, and if you feel otherwise, you wont.

Beaf:
What sophistication can we expect from a marabout with a sharia degree from Sudan?

Is it not the same Sanusi that said the CEO's should be lined up at Bar Beach and executed by firing squad? This is even while his so called bank audit had thrown up all sorts of false debts which where then promptly and immorally published, only for the CBN to recant after being sued and challenged by several bank clients. The same fiasco reared its head in the tracing of asset ownerships.
Right now the EFCC has been implicated in attempts to extort $2 million from Cecilia Ibru. The whole thing is a mess, but we can't expect better when the man on whose desk the buck stops, Sanusi, is a simple bush man who is struggling to operate in a league way above his station.

False debts? and over N100Bn has been recovered by the banks. I wonder who were those who 'donated' to the bank's cause.
Nobody has successfully sued the CBN over the list, and you are just trying to blow the typos (which have been corrected and a a statement of the corrections made by the CBN) out of proportion. why dont you provide the evidence to support your 'all sorts'.
Seems you have nothing new to contribute as you simply rehash the same stuff on every related thread.

SapeleGuy:
Nice Try Biina - what you are condoning is against our constitution. Jury or no jury, Sanusi is wrong.

A fair trial based on the presumption of innocence is the right of every Nigerian not a privilege.
In disregarding this fundamental right Sanusi is displaying his primitiveness.

You have failed to explain how the opinion of Sanusi affects the fairness of the trial (which is what you are alleging), as judgment would be passed by a judge or group of judges.

SapeleGuy:
With all this broadcasting by Sanusi can the accused individuals really get a fair trial?

Nigeria doesnt run a jury system, so I dont see how public opinion equates to judicial ruling, unless you are alleging that the judges are biased and thus incapable of doing their job.

naijaking1:
Splitting hair, and trying to change the subject will not do.
Is it any secret that EFCC charges were based on the so-called impeccable CBN findings: from owing 15 properties, to owing private jets and yatch, to owing over $500billion---one time allegation against Ibru, to owing shopping complexes, to owing the buildings the branches were located in were some of the public and quasi-official charges against these people.
Next, you will ask for evidence to show that CBN raised the charges being forwarded and prosecuted by EFCC?
Sorry, I don't have the privilage of a cozy CBN office with fulltime research staff like you do, all are in the public domain.

All are in the public domain and yet you cannot provide a link to one 
You have equated the statements of the EFCC to that of the CBN, and have failed to provide any proof, and next you will hypocritically demand that non be accused until found guilty

naijaking1:
^^^^
Thank you tpia.

The quote does not prove anything. The statement simply stated that the publications referenced by the accused were not grounds for a dismissal. It states nothing about the content or veracity of the publications, which is what you were suppose to show i.e. where did the CBN parade the suspects and/or where did sanusi make false claims against the suspects with regards to ownership of properties.

The article focuses on a side comment by the judge but ignores the core ruling of dismissing the case and having the trial go ahead.

naijaking1:
Source?
Read the article above.
Next, you will ask for article to prove the numerous public statements Sanusi has been making against the Ibrus, Akingbolas, and Atuches of this World.

So where in the article did Sanusi state that the Bank MDs owned properties that were not theirs?
Simply point it out (a simple quote or link will suffice) and stop misrepresenting the facts.

naijaking1:
^^^^
The judge's order sounds very basic and easy to understand, unless you're looking at the case through a tinted lens like biina and co, there is no need to misunderstand the simple sentences.
Even when the police parades an accussed, they're always careful to call them the alleged criminals. Here in the US, prosecutors go to extra-ordinary length to show that they are neither biased nor already have their minds made up about accussed criminals before going to trial.

There's nobody who has been following Sanusi's comments over the past year that would not come to the conclusion that the bank CEOs have not only tried, but have been convicted by him.
So we read about salacious articles about how Atuche had 15 properties, stole millions of dollars, and billions of naira, same goes for Ibru, Akingbola, and others. Yet this is not Salem Mass. 1460

Yes, it is very basic and easy to understand that at no point did the judge make a reference to Sanusi or the CBN when cautioning on the act of parading suspects in the media, nor is their any record of the CBN parading the suspects. You and the author are simply extrapolating beyond the scope of the actual statements. Sanusi is not the EFCC chairman.

chosen04:
It came from his written testimony to the police.
Not the Police forcing him to accept properties that are not his, as Sanusi has being claiming the Bank MDs own properties most of them have rejected outrightly and even boldly forfeited to the govt just to prove its not theirs

Source please? or Sanusi is now the EFCC?

I like the way Nigerians extrapolate statements.

1. Parading in the media is the usual habit of the Nigeria police and EFCC of showing accused people as if they have been convicted i.e. being arrested etc. The CBN at no point paraded the executives and at no point in the statement did the judge say or hint otherwise. But the statement has been extrapolated as being directed primarily at Sanusi and the CBN.

2. The second article by the South-South Economic Coalition only provides counters arguments against EFCC but at no point made any reference to specific statements by the CBN that were incorrect but the title implies otherwise.

More relevant is that the judge deemed it appropriate to go ahead with the trial, and thus the accused will have their day in court against the EFCC and justice ministry (not CBN), and the opportunity to clear themselves.

paddy_lo:
stop trying to be dis-ingenious,
the United states Financial meltdown and the Nigerian situation dont have to line up exactly for u to understand the point we are trying to make on here, jeez

just like the financial meltdown in 2008 didnt have to mirror the great depression exactly
for bernanke to understand what was wrong and what had to be done

u are just splitting hairs on here, let me rephrase all u have said above

- It was Greenspan that induced the system that repealed glass - steagal that unleashed the huge leverage ratios of up to 30 - 1 that finally sunk bear stearns/AIG
- It was under Greenspan that the banks got over exposed to CDOs/CLOs, MbS and so on
- It was under Greenspan that the seeds of the  market crash were sown
- It was under Greenspan that the banks were not adequately monitored/supervised, he actually subscribed to self regulation
- It was under Bernanke that the EDW was created to save the distressed banks

in essence u have said nothing,

U missed the point that it was under Bernanke that the exposure of the banks led to losses. Similarly it was under Soludo that the Nigerian banks exposure led to losses, not under Sanusi. Sanusi is only clearing the rubbish and trying to salvage the left over.

u keep claiming bernanke didnt inherit a crashed system,but he did, Bernanke simply had to save the system,
for your info the US stock markets peaked in summer 2007 from where it began a slow motion crash
credit spreads of various big companies were already showing serious signs of stress by late 2007

Bernanke assumed office in February 2006 and what Bernanke inherited was an exposed (not crashed) system.  The system crashed under his watch. 

u cannot remove sanusi from culpability,because like i told u he has to face up to his own actions
and he should stop pointing blames at the past. . . . . . .

u just refuse to see that his actions have done more harm than good,
if he were the US federal reserve chairman we would be in a depression right now

what harm has he done than making the banks own up to their losses, or you would rather we pretend that all is well. The damage had been done before Sanusi took over.

everything Soludo did, bernanke has done, Forbearance and Expanded discount window was the first tool the feds used over here
why do u think mark to market was suspended,  . . .u dont mark your capital down in times of severe stress
that is called pro-cyclicality, it is just retarded

what u do is give forbearance and time for the assets to rebound and time for the banks to raise private capital
which they are all doing over here, from Bank of America to Morgan stanley

The EDW could have worked if Soludo had improved supervision like Bernanke did. Instead he left same executives in office, and 6 months later things were only worse.

what u dont do is publish names of debtors in national dailies, further spooking the markets

Firstly, the method was successful as over N100Bn has been recovered from the debtors. Secondly, what is your suggested effective alternative (write letters?  ) or you are just criticizing for the sake of it?

what u dont do is suggest jungle justice, in a nation that alledgedly has rule of law

He simply gave his opinion on how bad he felt the actions of the sacked executives were. The executives had already been removed before he made his comments. I dont remember a law barring the governor having his own opinion.

what u dont do is unleash an ill thought reform process without a clear roadmap of where we are headed

He is simply enforcing existing regulations. Do we need a road map for supervision or you would rather he makes grand plans that have no effectiveness in reality cos of lax supervision?

because when mr geithner of treasury in conjunction with the feds rolled out an ill equipped plan to buy toxic assets in feb 2009
the markets tanked hard, and they had to go work on the plan for another couple of weeks b4 the markets were reassured

Mr Sanusi has chosen to be fool hardy and not think through his so called reforms
i wonder why u expect us to applaud such incompetence
when in saner climes he would have been long chastised

it is left for him to readjust his so called reforms to the biting realities of the day

You call it incompetence, I call it effectiveness. For once we actually have a CBN governor that is willing to supervise effectively and you are suggesting he makes a roadmap before  enforcing regulations. It is only after he has cleared the rubbish out of the system that we will have a true picture of the sector and make plans that are relevant to where we are and we want to be (and not some grandiose schemes and castle in the sky with no anchorage on reality that characterized the previous regime).

You have still to explain why Soludo failed to tackle the first four problems he listed himself.

paddy_lo:
I already told u the linkage. . . . . .the world is global, so whomever is put there has to think global

who do u think decides the oil price that moves our economy?
yea the oil traders in chicago,

what Nigeria needs is someone that will put her on the same map as indonesia,and malaysia
emerging markets, that succeed by attracting capital from overseas,

I suppose u dont want a bsc holder from ABU or some other backwater school in that position do u?
just naming him alone to the finance portfolio is sure to re-assure foriegn investors. . .

Being an investment banker is not the requisite experience for a finance minister job in a developing economy. Having a background in macro economics is more relevant.
That does not mean the guy wont deliver relatively (particularly given the uselessness of the outgoing minister) but you cant make that argument based on him being a hedge fund manager.

So for example, looking at Indonesian finance ministers from 2001 till date, Ramli, Royong, Jusuf Anwar, and Indrawati, are all economists and not investment bankers.

RoadStar:
Well you will not remenber because Bernanke did not go trading blames in the pages of the media. But if you must know, the sub-prime mess that led to the global finacial crisis all happened under Greenspans watch. Even he at a certain speech I remember accepted responsibility for the crisis.
Yet, he is still highly respected and credited with sucesses of the american economy during his term.

The system crashed when Bernanke was in office. Equivalently, the system crashed in 2008 when Soludo was in Office.

You are a Sanusi type of person. You see the world in black and white. Right or left.

It is possible to raise concerns without over-exeggerating, you can kill a rat without burning down the house.
It is possible regulate the sector without tearing it down.
But you are stuborn and no matter how anyone tries to make you see the point you still manage to miss it.

I asked the question because you made a statement that hinted that Soludo evaluation of the sector he inherited might not have been entirely true.

Initially Sanusi didnt say much about how we got into the problem, until some people started questioning his integrity, by saying the audit was concocted, that the banks were healthy, and that Sanusi was just providing a false excuse to execute a northern agenda.  Sanusi simply explained how we got into the current BS situation. It was the people that raised the questions that dug up the answers, or should Sanusi have kept quiet so that they can say the only reason he didnt respond was cause the allegations were true?
There is nothing exagerrated in his description of the problem, and he provided figures to back it up, but some will question those figures without providing alternatives. Abi how do you know something is false, if you dont know the truth.

But the increased lending capacity was real. The upsurge in the branches and employess were real.
The venturing into foreign countries was real.
Except for the exegerated state of the accounts as you allege.
Evenm at that the global financial sector was in crisis.
Even sanusis first bank declared loses too. So what are you saying ?
But for now the dead banks are not a figment of anyone's imagination.

Increase lending capacity that was based on dubios capitalization?
The lending capacity that was mainly exercised in the stock market, and oil & gas?
The venturing into foreign countries that had begun since the 1980s?

Again declaring losses is not a crime, but doctoring the books to make it seem you are making profits when in truth you have gone belly up is. The banks with interim management were illiquid after owning up to their losses. There is nothing dead about the banks, as non of them have gone belly up. The banks have simply become overly cautious as, having lost a lot of capital, they can no longer lend indiscriminately and hide their losses by doctoring their books. the problem has only been compounded by some elements spreading fear and doom in the sector, but all will return to normal in due time.

paddy_lo:
u have showed nothing. . . .

greenspan oversaw a period of irrational exuberance. . .easy credit and stock market boom

same with soludo. . . . .

when the inevitable recession hit,it was left to bernanke to handle the aftermath

same with Sanusi. . .

the difference is that bernanke had a phd and is a student of the great depression. . he knew the steps to take

sanusi on the other hand is an islamic scholar from sudan of all places

who is way above his league. . .and didnt have a clue, but is content with faking it till he makes it

meanwhile Nigerian graduates cant get jobs,and those with jobs are being fired

so yea Sanusi aint nothing like Bernanke
though i which he was

Wrong!.
- It was Soludo that induced the system with the N25Bn capitalization which forced the banks to raise money that they didnt have clear avenues to invest
- It was under Soludo that the banks got over exposed to the capital market
- It was under Soludo that the market crashed (in 2008)
- It was under Soludo that the banks were doctoring their statements to hide their losses
- It was under Soludo that the EDW was created to save the distressed banks
- Sanusi simply made the banks own up to their losses.

So while, guilty or not, you can accuse Greenspan of negligence or inducement, the system didnt crash under his watch. Bernanke didnt inherit a crashed system, but Sanusi did. Soludo was the both the Greenspan and Bernanke Pt 1 of Nigeria. It started and died under Soludo's watch, and sanusi is only cleaning up the rubbish left.

Beaf:
Talking of falsification, what can be more criminal and unprofessional than a Central Bank Governor simply discarding the gravity of his office and adding zero's to bank clients debts, publishing the false figures in the media and cooperating with EFCC to hunt both the guilty and the innocent. Major parts of the CEO bruhaha have already collapsed disgracefully like the sham arrangement it always was; one has got his bank back and the EFCC is embroiled in a $2 million extortion scandal with another.

All the while the banking sector sinks deeper into the avoidable morasse Sabusi built. They can't lend money (a fundamental function), but major domo is busy investing in the power sector. That man is bewildered, lost, mediocre and confused.

So Sanusi wrote the list himself? or he should have sat down to personally vet every digit on the list?
The list was generated from the banks, and the CBN only published it to help with the debt recovery efforts.

paddy_lo:
dude what part of the US banking system crashed under bernanke dont u understand?

And yes most people blame both greenspan and helicopter ben for that crash. . .

stop trying to defend,what u know nothing about

Have simply showed you that your choice of comparison is wrong. Sansusi-Soludo, is in no way similar Bernanke-Greenspan,

RoadStar:
Because he turned the banking sector into the next best thing since crude oil.

and that conclusion is based on what - the falsified financial accounts? or was that conclusion reached after the banks over exposed behinds were burnt during the stock market crash crash.
He was in office and failed to tackle (talk less solve) any of the major problems in the sector.
I dont remember the oil sector requiring an EDW.

RoadStar:
I never saw Bernanke trying to blame greenspan instead of facing challenges due to present circumstances.

I dont remember Bernanke inheriting a crashed system hidden under false reports from Greenspan, and when trying to fix things is aske the question why.
You asked why Sanusi was fixing things, and he explained, but you turn around and say he is placing blame.

Every newly appointed CBN governor should sound positive and upbeat. You cease being an ordinary individual and your comments can easily jolt the markets and dent investor confidence.

are you saying he lied?

Research on Bernankes speeches he too did not start mud throwing.
with the way the office of the CBN governor was politicized and locked to the north, you cant blame anyone.
And what credit are you talking about.
Sanusis ethics and standards have to yield to growth and vibrancy in the banking sector.
Abi na ethics you we go chop.

Something no one can deny Soludos banking sector had.
Nigerian banks are presently comatose. They are presently just safe deposit houses.
We all miss the Soludo days.

Soludo's banking growth was a sham. When the banks were made to own up to their true positions, it became evident that the sector was in trouble, but seems you would rather we continue deluding ourselves with the falsified reports. The banks were 'vibrant' putting money into the stock market and buying their own shares

Sanusi is putting first thing first, and whatever gains the sector makes will be solid growth and not some figment of someone's imagination.

paddy_lo:
keep repeating the same gibberish. . . . . .it wont get u anywhere
u dont remember bernanke being found wanting in his job?, well thats because he is no SANUSI. . . , 

the bottomline is that people were calling for bernankes head. . .i reside in the usa so i know
the only thing that saved him,was the way he handled the crises from oct 2008, to oct 2009, b4 he was renominated by Obama. . .
trust me if he had acted like your SANUSI, then the american economy would be in a depression now. . .

its a shame u dont get it. . .

why dont you explain why Soludo, having failed to do his job, is the next best thing since slice bread?

paddy_lo:
stop blindly being an ethnic follower of sanusi

and stop slandering soludo with every rubbish that comes out of your mouth

SOLUDO was the best thing to happen to NIGERIA since 1999s democratic rule

Ben Bernanke was Fed chairman in USA during the crash, and still is today

i dont see the Americans blaming him for Bank failures over there

In business cycles we have what is called recessions

and Nigerian banks just had a taste of their first recession in 2008 after yrs of unprecedented growth

Perhaps SANUSI should go learn how to be a central banker from ben bernanke
learn how he handled the american crises

its just too bad for Nigeria that we have a CBN governor that has to learn on the job
lets hope he is a fast learner

You are the one with ethnic bias, as you came up with no evidence to counter what I said.

I dont remember Bernanke being found wanting at his job, so your comparison is unwarranted.

When Soludo was appointed, he admitted that (you can verify from his first speech) the banking sector was in good health and he rightly identified the problems of the sectors as
a) weak corporate governance, evidenced by high turnover in the Board and management staff, inaccurate reporting and non-compliance with regulatory requirements, falling ethics and de-marketing of other banks in the industry;
b) late or non-publication of annual accounts that obviates the impact of market discipline in ensuring banking soundness;
c) gross insider abuses, resulting in huge non-performing insider related credits;
d) insolvency, as evidenced by negative capital adequacy ratios and shareholders’ funds that had been completely eroded by operating losses;
e) weak capital base, even for those banks that have met the minimum capital requirement, which currently stands at N1.0 billion or US$7.53 million for existing banks and N2.0 billion or US$15.06 million for new banks, and compared with the RM2.0 billion or US$526.4 million in Malaysia.
f) Over-dependency on public sector deposits, and neglect of small and medium class savers.

It was shocking that he ignored the first four problems and simply went after the last two (which were less of problems but areas that needed improvement). A few years later, we are in crisis due to the unchecked growth of the first four problems, and you are saying Soludo is the best thing since slice bread  I beg stop drinking Soludomine like if its palm wine, and answer why your 'perfect' CBN governor failed so woefully.

Now Sanusi is tackling those four problems and you are shouting blue murder. If Soludo had done his job right, Sanusi wont have had to come in to be doing cleanup work. In fact we probably wouldnt have had Sanusi has CBN governor, as there would have been no clear reason to replace Soludo.

Seems you guys cant admit that a northerner is delivering where a southerner had failed. Learn to positively criticize failings, and give credit where credit is due.

asha 80:
igbo- okpu nna bu enyi

meaning hat/cap for male friend?

PapaBrowne:
Its true sef. Why should we expect much from someone whose only qualification above a Bsc is his degree in Sharia studies.
He can only give what he has! I think Soludo upped the bar soo high that our expectations of a CBN governor has become so demanding.

Soludo led us into the quicksand we are in. Upped the bar? maybe of failing banks!

FL Gators:


Yoruba : Ora fun oko

< and innocence is burnt at the stake>
nice try but sorry you are wrong.

freezy:
Oops, my bad. 

So, is all Sanusi trying to achieve is the Asset Management Company Bill?

Just to get it straight (I learn daily concerning financials) does that (the passage of the AMC bill) put an end to all this hullaballoo about economic standstill?

I asked you a simple question of which part of his plans requires 10-15yrs and simply gave you an example of one (solving the toxic asset problem) that did not.
So again which part of the plans requires 10-15yrs or is it a figment of your imagination?

freezy:
^^^

Biina has made his point over and over again. . .
Sanusi's agenda'll prolly mature in 10-15 years. Then we'll be greatful for his actions today.



Lets just hope we all would not have died of hunger by then  

Which part of the policy requires 10-15yrs?
The AMC bill is almost done and the banks will be back under shareholders control by the end of the year.

That is sad if he wrote it or it was published with his knowledge.

A common problem in Nigeria is that we seem to find it difficult to point out to people in authority where or when they might have gone wrong. This is different from passing judgment or condemning them. Nobody is perfect, and even Moses made a mistake. The knowledge of right or wrong is not localized to anyone. I wont be surprised if some other members of the church had reservations about the entry and didn't think it right to raise the issue.

rhymz:
@biina
there is sth U and other supporters of Sanusi have failed to realize or deliberately do not want to talk about and that is the fact that Sanusi has further taken the problem to a whole new dimension. Face it biina and Co, Mr Sanusi's started off as a one-man army, crossing his constitutional powers, sacking the CEOs halfway into investigation and running his mouth like he had a  personal war with bank CEOs. He exaggerating the concept of Non-performing loans making it look like it was a crime to default on borrowed loans and clumping NPLs with bad Loans. His decisions were too damn erratic,sponteneous and not thoroughly thought through. At first, He had thought that the problem would be solved once he kicked out the CEOs and pumped in some billions, all these from a layman's observation of their frequency at the EDW. Mr Sanusi learnt to shut his mouth and face his work when it became obvious that he was causing more problems with his maffian style, he started slowing down and at least making an averagely wide consultation before reeling out his sick policies. The problems in the banking sector go beyond what Soludo allowed and did not allow, it was not just about bad regulations and negligence, there were also some inherent problems which to a large extent was not any1's fault. Forget what Soludo said about our banks being immuned from the global financial crisis,any1 with common sense knew it was only a matter of time be4 we would start having dsame problem and Sanusi cant in all honesty tell us that the whole problem hovers around Soludo and the CEOs alone.But my guy was neck deep in his personal beef with CEOs and ridiculing his predecessor as long as he was playing to the gallery and appealing to the public who were in such awe of his moral standing than understanding that certain policies are economically expedient and are in parallels with the dictates of moral rectitude.
So far our beloved Sanusi has strangled the economy with heavy bureaucratic bottlenecks, everyday he is reeling out new policies to take care of the future when there is no "Now", i wonder which banks and economy are going to be in his "future" cos the ones i see are prostrating and gasping for breath while Mr Sanusi is busy groping in oblivion. I dont care what plans he has for the future unless he relates it with "now",call me weird but i would rather a soludo reeling out practicable policies with postive effect(inspite of his flaws) than a holier than thou Sanusi taking food off people's tables with almost impossible test-run policies.When I look at the two of them, I see two opposing differences, one took on the saddle of leadership; took it to an unprecedented height and made many grave mistakes that could be corrected if handled with great finesse and tact, the other took on the saddle of leadership,run it aground and continues to make thesame clueless mistakes. If I were to choose, i would go for the former and may be put the latter to assist him.

1. One man army crossing his constitutional boundary? has this been proven in court?
2. Layman observation of EDW? the banks were audited and found to have put depositors at risk and doctored their books to hide their losses by not provisioning as clearly stated in the SAS
3. At no point did he make defaulting on loans a crime, but simply tried to (and successfully too) help the banks recover some of their non-performing loans. The only people in trouble are those that obtained loans outside of due process.
4. The CEOs were sacked after their banks had been audited. There is no justification for waiting for the second batch of banks before taking appropriate action. Those found wanting in the second round were also dealt with accordingly.

Views like yours explain why Nigeria is so bad, as you cannot see beyond your prejudices  and evaluate issues based on facts. Sanusi is doing what needs to be done, and which Soludo identified and yet did nothing about it. Instead Soludo was building castles on sand, or was it Sanusi that let the banks be over exposed to the stock market and let the market crash in 2008? The guy is trying to save the sector and giving you a true picture, but Nigerians would rather continue in ignorance (which they say is bliss). The banks were in trouble before Sanusi took over. He simply made them own up to it or Sanusi should have left the corrupt executives in office and let them drag down the entire sector?

You question the basis for his actions, he explains, and you now accuse him of ridiculing his predecessor? Should he have hid the shortcomings of the previous regime so that you can say there was no basis for his actions? All of you come online to criticize Sanusi, but none of you come up with facts and figures to support your allegations, nor can propose an effective solution to the problems. Yet the one man that does his job is called a villain.

As time as evolved and they have lost one argument, they have come up with another baseless one. Initially it was the northern agenda - it failed to materialize, then came illegal firing of executives - they couldnt prove it in court, the audit report is false - they are yet to present the true version, now it Sanusi ruined the economy a if he was the one that crashed the stock market, and yet MAN is applauding his efforts to inject fund into the manufacturing sector.

What is the word for condom in the various languages (yoruba, Igbo, Hausa etc)

RoadStar:
Then there goes, one less from Sanusi.

The problem is that you did not give Sanusi the benefit of doubt, nor carry out due research, before making the earlier statement. This is representative of most anti-sanusi posters.

The union are doing what you would expect of them i.e. protective their collective behind.

@Akanbi_edu
Privatization is not a silver bullet.

I dont think any sound christian would try the defend the issues the OP has raised. The only question is the level of complicity of various members of the church hierarchy e.g. did the GO actually compose and/or vet the said writings or was it someone's brilliant idea to print it in his name to improve sales. At the least, the RCCG hierarchy are guilty of negligence, and anyone who actually reviewed and approved the publication has done a disservice to christianity

ayettymama:
we are all going to hell!!

get your air conditioners ready!!!!

*packing tan lotions*

naija woman - u neva tan reach?