₦airaland Forum

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LoJ:
While fighting for legality, you should not kill the economy and nigerians. What is the purpose of a very legal mortuary? The only People who fully abide by the law are the deads.

It is good to observe the Constitution. But the fact and the matter is, it was already a well established practice and it helped the economy and now Nigeria still is the greatest and most buoyant economy in Africa. This is largely due the the huge funds deposited by the government in commercial banks, that help generate credit and expand the economy.

I am not saying efforts should not be made to observe the constition. All I am saying - and it is also my understanding of Plaetton's posts - is that they should have looked for better ways to achieve it.

Another method could have been, to give 3 or 4 years to the Banking sector to prepare for that operation. Then they would plan accordingly and the impact would be less severe. And at the end of the day everyone shall be happy.

Obeying the constitution should be for the Nigerian economy, not against.

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You just dont get it, do you? Obeying the constitution is NOT up for debate. Its NOT up for rationalizing. Its sacrosanct and compulsory. There is no soft landing for anybody. Period! Your long epistle goes to no issue

Btw commercial banks dont need all what you are advocating. They are private entities established to run their business and make their profit. It is not the business of govt to waste funds on private entities that turn around to charge ridiculous interest rates both on the government and its citizens. The era of impunity and greed is over!

Lol na by force

plaetton:
I agree with you, except that the Constitution never mandated the federal government to conduct their banking businesses exclusively with the CBN.
Yes, the CBN is the reserve bank, and as such , is the governments default banker.

Commercial banks, on the other hand, are there, and do serve, in all countries, for the smooth,less bureaucratic and efficient operation of government banking transactions.
By so doing, they enjoy the buoyancy that government funds adds to their credit creating and expansion business; a win win situation for banks, the economy and the government.

Now, by denying banks of that buoyancy, the government has foolishly shot itself in the foot.

The Nigerian economy is too fragile for that kind of foolishness.

Once again you have goofed on the provisions of our constitution. You may also wish to wish to consult the federation alloc. Act. Once again and for the avoidance of doubt: IT IS ILLEGAL FOR GOVT INSTITUTIONS TO PUT GOVT FUNDS IN COMMERCIAL BANKS. Period.

You dont negotiate with or rationalize the constitution. The provisions are clear as crystal. Commercial banks are more than capable of conducting their business by actually providing professional services to customers and not lazily waiting for "free" govt funds. Jeez! This is not rocket science!

plaetton:
Apparently, you don't know much about economics.

Apple computer, for example, has a cash horde of about $300b. But Apple still borrows money from banks , and even offers long and medium term bonds to finance it's daily operations.
If you don't understand how and why, then that makes you an economic semi-literate. No insult intended.

Don't argue against things you don't fully understand.

Actually u are the one completely and utterly ignorant. You cant compare the federal government to a private company. Why? A little thing called the constitution that says ALL monies accruing to the federal govt be paid to federation account (which is domiciled in CBN not in commercial banks)! So all such payments to commercial banks are technically ILLEGAL!

Thats on the one hand. Further, the CBN is the Government's Bank and not commercial bank. If Apple's goes bankrupt people only lose the value of what they invested in the company, and infact the govt can in some cases intervene with a bailout (like what they did for chrysler). But guess what happens when Govt itself goes bankrupt? Its better imagined!

So dont compare private company to federal Government. These are two completely different issues!

[[s]quote author=plaetton post=43085305]

Not exactly sir.

GEJ government came up with the plan, but on critical expert analysis, they realised that it would immediately choke the banking sector and the economy to near death.
Therefore, they decided to keep on hold, while trying to figure a better way to harmonize FG accounts without choking the economy.

Then General clueless stepped in, impervious to economic common sense, pushed the TSA forward, completely oblivious of the immediate economic implications.[/quote][/s]

TRASH!

I shudder to think that these are the people who claim to be leaders of the future. Smh

Choke the banks how How can government lodge its funds in commercial banks then still go back to the same commercial banks to borrow the same funds with huge interest rates on it. Its broad daylight robbery. Something jonathan's regime was well known for!

This man needs to shut up. Fayose is almost as useless as jonathan, except that in his case he is an empty barrel making so much unnecessary noise!

For a man that proposed the lowest most unproductive budget in Nigeria's history, he needs to just shut up.

[[s]quote author=praxisnetworks post=43076841] ;EFCC is a very corrupt organization. How can you tender illegally obtained exhibits in a court of law? They are just fooling Nigerians with fake anti corruption charges. Now I am waiting to see how they'll wriggle out of this..... I think someone should sue EFCC for wasting taxpayers money and causing unnecessary and unneeded media distractions.[/quote][/s]

SHUT UP!

Its like pdp has not learnt anything from all their woes. What a useless party!
You pple keep imposing personalities on yourselves, no atom of democratic values whatsoever. Smh

Sso he is 60 Hmmm, wow!

Yet still reasons like a child. Smh

I so much love this man Buhari. So so much. Best President ever!

And so what if there are gay smileys?
Smileys dont change sexuality.

Acidosis:
Kindly suggest a better comment for Yemi Alade, as it's now wrong to complain.

Mind you, we're only holding onto APC's promises. Look at the banner below and give me 1 reason why you think you're smarter than Yemi Alade, Soyinka, Sanusi, Soludo & The Economist.

When we had N216 = $1, APC said "it's time to speak out", why are you silencing Yemi Alade now that $1 = N370?

Who is silencing her

HiddenShadow:
Jonathan remains the best except to ethno religious bigots.

YES!
Best in looting. Best in wasting resources. Best in encouraging corruption. Best in getting drunk in official functions. Best in complete utter cluelessness!

Endison:
Someone should advice Buhari dat u cannot use a 1984 reasoning to make changes in a 2016 situation.

Expending 95% of Ur strength to hound, fight and pursue KANU, dasuki and co will not put food on the tables of the poor man.
Pls give us an economic roadmap. A sound revolution that will turn our dying economy around.
There must be compromises..some guilty ones will be ignored, all in a bid to make things better. Even America covers some of their problems so dat de can look good and strong to the world. If u spend Ur whole four years on corruption litigations and the economy falls, are we gonna eat dia flesh in prison?


Think Buhari think. Prove to dem dat Ur not the Dullard de call u.

I think most nigerians are not used to seeing our institutions work. We are used to the president's hand in every single major case. Buhari is not a prosecutor or a lawyer and neither does he have the time to be pursuing every single case. Common sense shld tell u that there are institutions whose job is to apprehend and prosecute criminals. It must not be Buhari doing everything

Royal155:
Hang on there my role model!! The storm will soon be over..

Oh, but the tornado has barely begun!

adajiboyy:
U are a big fool freeze.I was born in the north those abokis don't care about any other tribes but dem self.yes there are good and wonderful hausas but 80% of the abokis are tribalistic.dey would kal d ibos nd other languages inyamiri,and the moment they notice u are about to grow or take the lead in there enviroument they would say semu ne(its how's) they would do everyfin to bring u down.onyeka is a beta nigerian than u ar 100 million times her songs has mend many broken heart.ur own no pass to dey show watch for twitter and instagram like small pikin.

You can make a good point without abusing anybody. Be courteous and civil.
Oh and btw, onyeka is a great musician but also a green snake, sliding its way into every govt. Who can forget her fight with mama G last yearover who has access to the 1st lady. She has only one agenda in her mind: personal enrichment at all cost!

jcross19:
can you see what sai baba has done to you? You don't reason like normal human being. I think he knew what he got himself to when he was elected as the president. Then why is he a president? if not!, is more worst than clueless

Rather than nag uncontrollably, why not tell us what Buhari shld be doing that he isnt doing. Dont just wail for d sake of wailing. Be constructive in your criticism. Nigeria belongs to us all and your unwarranted nagging doesnt help anybody!

Jeffboi:
Give me example of. What you're saying bro. Take dollar for instance

Yes the entire problem we are facing now is GeJ's fault. He presided at a time when wehad the highest profit from oil, but what did he do? Waste, waste and more waste. Investing in phantom projects, outrightly dashing forex to his friends and cronies (imagine if we still had that $2.1billion in d bank now), encouraging looting (stealing is not corruption) to name but a few.
So now that our only means of getting forex (oil) has crashed, what do u expect govt to do? Start printing dollars Economics is not magic. Its garbage in, garbage out.

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Jeffboi:
Gerrout

One day. You will confess with your mouth GEJ remain the best president nigeria even had.

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TRASH!

GEJ is the worst thing to happen to Nigeria. The whole world knows that!

adajiboyy:
mr man u beta kip quite.its bkus of ur like that dis rubbish useless president takes us for a ride.

"Rubbish useless president" Well at least its a good thing he ignores people like you cos you have absolutely no positive contribution to national devt other than to wail and nag and look for ways to pull govt down.

Many of my fellow nigerdelta youth are quite useless, unproductive and resort to threats at the slightest opportunity. U will be surprised that most of those calling themselves "workers" have not worked a single day in their lives, rather they just have their names placed on the company's payroll as a major demand of the community. They learn no skill and contribute absolutely nothing to economic development of the region. When challenged you will here the usual rhetoric "its awa oyel money na". What a shame!

Jeffboi:
E don happen. He finally accepts that. GEJ has a good idea for once.


This people sha. They worse than zika_virus

But must u wail Smh

I really pray they convict this man. Cant wait for the end of the trial

Hhahahaha

Naija sha, una no de carry last! Remains me of the guy that trekked from lagos after Bubu won the elections.....

Why cant this man face his job. You are there complaining and putting mouth in what doesnt concern while you job is yet to be done. But has yet to be passed and you choose to be mute whenever you in the House.

Ben Murray Bruce, pls shut up!

francizy:
Why isn't GEJ behind bars already? I thought he stole over $200billion?

Be patient. The long arm of the law will finally get to him. Nobody is untouchable!

francizy:
Oh! Are we to now work based on facts? I thought these media trial and jungle justice was instituted and propagated by your god to the delight of his zombified mofos?

Ehen, now ur true nature is coming out. Pour insults rather than rational critical thinking. Well, YES you are to "work with facts". Think before you type and not spew trash!

Btw there is no such thing as media trial. All the corruption cases are in court, and the court is a public institution thats open to the press. Now u would have had a case if the suspects were never arraigned, but unfortunately YOU DONT!

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francizy:
OK, let's not duel on conspiracies. Now tell me, where or what is the source of APC campaign funds? That I don't have evidence doesn't mean that I shouldn't be suspicious, given that 4 or more state governors that were vocal supporters and big time players in the APC campaign have/had their states in shambles.

And what about the entire APC? Are they supposed to roam free? Remember Fayemi scams? remember Fashola's scams? Remember that of Aregbesola? Or is it Amaechi? All APC politicians/criminals are worst of or on par with PDP politicians/criminals. Don't just single out PDP.

You see the problem I have with APC sycophants is that you people support based on sentiments (both tribal and religious) and hence, claim to have saints as party members (even when it's glaring that all APC politicians are crooks, liars, deceivers, heartless, etc.), governors and even the so called "incorruptible mofo" in Aso Rock. At least, PDP people acknowledge that they ain't saints but only humans and can err but y'all see it as if APC criminals don't err.

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You said yourself that u have NO EVIDENCE meaning your post is nothing but trash. Stop dwelling on roadside gossip, it wont do u any good!
Its not about supporting apc, but if u have any tangible fact then u must put it forward. Not tales by moonlight of ridiculous fantasies spun by people who have vowed never to see anything good in this govt. Talk with facts not fiction!

Are u sure any good can ever come from kogi. The way things are going gives one reason to be wary. The state has suffered decades of bad, and infact no government!

OMG! Wailers will be frustrated by this!

PDP = Confused Dead Party!

#Darkness shall never triumph over light!

francizy:
The same governors that pushed for all our savings to be shared are now ministers (after using the money to sponsor Buhari's election) while one of them is running Imo state aground. If you want the reserves, go and take it from Buhari.

Stop dwelling on conspiracies and unfounded bogus claims. You dont have any evidence Buhari's campaign was sponsored by public funds. On the contrary there is evidence that the campaign was sponsored by funds from private pockets.
But campaign aside, you talk as if its only apc governors that were pushing for sharing funds. I do not support rochas ridiculous spending (he is nothing but a bad egg in the basket), but if u are to judge parties by their Governors then the entire PDP should be in jail!