₦airaland Forum

LMAO my brother Chambers O, are you a lawyer by any chance?

IMF loooooooooooooool, have you ever seen a non european head the IMF or a non American head the World bank? sigh

Haha, that was just a humorous note. I do know that the seat of the IMF chairman is a European thing, but atleast our almighty SLS would have been mentioned

That says it all really, I mean you have been bashing these inconsistent policies (which you fail t list), which of the decisions have had devastating effects on the economy?
The cheap loans he is givng to the manufacturers? The decision to pump money into badly run banks with taxpayers' govt money, the fact that no single depositiors have lost money?
They are meeting their customer request BECAUSE THE CBN HS CLEARLY GIVEN THEM MONEY, BECAUSE THE CBN HAS CLEARLY GUARANTEED THEIR LOANS!!! There is no sign of sudden collapse because someone has made a decision to support them with money you claim had no 'constitutional backing!!!
these banks should have failed!!

Why do you think the uk government want to sell Northern rock, why do you think RBS is still losing money even though it is owned 84% by the people now

Sir, i wouldn't want to repeat what had been said on numerous threads on NL, But i will give you the benefit of reading through the argument below;

''There are two cardinal aspects of this mess that the CBN Governor got disastrously wrong. You see, when laws, regulations and procedures are laid down, the purpose is to avert anarchy. If we continue to act with disregard for regulations, we will continue to be a disjointed and directionless society. That forms the plank for the emergence of a failed state.

The two critical bits that Sanusi got wrong: Regulatory Discretion & Procedure and Approprition of Public Funds.

If you are familiar with the Fundamentals of Regulatory Oversight in any industry, you will be aware that the cardinal function of the Regulator is to guarantee a healthy industry and in so doing, the Regulator has various tools of intervention. The tools are to be excercised progressively in such a manner that correction of anomalies is effected with minimal disruption to the system. The ultimate sanctions are only reserved for irreversible situations and even at that ONLY after the application of intermediary measures which have failed.

Sanusi did not apply any intermediary measures whatsoever before wielding the big stick and he failed to note the likely ripple effects of loss of local and international confidence and run on deposits that attend such public shows of regulatory might.

It is therefore clear that as a Regulator he acted hastily, and without discretion, which is scandalous considering that this is a post he has held for less than two months. Clear measures availed him in taking gradual steps to correct the anomalies.

Furthermore a Regulator must be impartial - and in this he has manifestly failed by implicitly giving the other banks more time to tidy up their books while dragging the first lot into the mud.

The Second major point is Appropriation of Public funds.

Under the Constitution of Nigeria ALL FUNDS - HOWEVER SOURCED, PRODUCED OR DERIVED, accrue FIRST, AND AUTOMATICALLY TO THE CONSOLIDATED FEDERATION ACCOUNT, AND NO FUNDS MAY BE WITHDRWAN THEREFROM WITHOUT APPROPRIATION FOR SUCH PURPOSE BY THE PARLIAMENT (NATIONAL ASSEMBLY).

Accordingly, once monies are printed (which is at all events a questionable approach to creating wealth) such monies accrue first to the Federation Account and must be appropriated before being touched at all.

Sanusi made two infantile arguments in his attempt to evade this. He stated that it was not an expenditure but a loan. This is irrelevant because the Constitution does not make a distinction. It states that ALL monies must be appropriated before being withdrawn. Thus it does not matter what you are withdrawing the money for: it must be appropriated before being withdrawn. Secondly he stated that the money was not from the Federation Account. What a laugh - the law states that ALL monies should go to that account!

His action sets a very dangerous precedent: In future the CBN Governor may print trillions of naira and disburse as he pleases since in his argument, its a loan. So perhaps he can print 100 trillion naira and give out as loans without the proper process of legislative approval? Also, if the other banks he is still auditing are found to need help, what will he do? Go back to his back yard and print more billions?

Aside from the illegality pointed out above, as an economist he should be aware that such reckless printing of monies is a key cause of inflationary trends within the economy.

Recall that both the US and UK effected similar bail-outs last year at the height of the recession. It may interest you to know that in both societies the actions were carried out by the Central Banks through Acts of Parliament.

So you see, my dear brother - we cannot carry on with our scattered, gra-gra approach to doing things just any how in this country.''

https://www.nairaland.com/nigeria/topic-710377.99999.html#bot

We don't naturally value what we have until we lose it. If some people could find it difficult to understand[b] why this man was given international awards (outstanding CBN  governor of the year included)[/b], surely they would never appreciate his sacrifice. Only if we tell every contributor to state his/her religion before commenting, we can see the picture of what is happening here. I'm sorry for this nation, not because of who we are today but because of what we're gradually turning into. Nobody has talked about corruption and ex-MDs atrocities that plunge these banks into this mess. I know that Sanusi will recieve Best CBN governor of the year again.

And yet he was not nominated or even mentioned when the IMF seat was vacant. International award my foot. After soludo's tenure he was appointed a member of the UN economic team, infact he is the only African/black man on that seat.

Inconsistencies Such as?
Will anybody in their right mind really wait till a 'sept 30th to act? i mean its not rocket science, will a company being carried along by taxoayers money since 2009 suddenly find partners in 2 months? Or you want the people to clean out on 29th then wait for CBN action the next day?

Only time will tell if Sanusi is right or wrong in his policy actions. But as it is always the case precedence have continued to show that SLS's hasty actions leaves devastating blow in the economy. Making decisions based on impulse and bigoted disposition is never the right path to tow. Even as at today these banks are meeting their customer's cash withdrawal request and there is no sign of sudden collapse. Maybe SLS is seeing what me and most other Nigerians are not seeing, but whatever may be the case, only time will tell

Thank God we still have educated and intelligent people like you in Nigeria. When you read some comments from majority of posters on this thread, you start to wonder if they are stark illiterates or people who went to school but learnt nothing. You know the types who claim they are educated but can communicate in english. The internet exposes the ignorance and dullness of so many Nairaland posters. I hope the distribution of people on here is not a representation of what we have in Nigeria.

The fact that someone does not share your view in an issue does not make him/her an illiterate, get it. What you do in such case, as a supposed educated person, is to hold on to your own view. What will be the value of education if we don't have different perspectives to issues and events. Try to respect other person's opinion, it is another attribute of an educated person.

It's expected there will probably be mass withdrawals, that's fine and the effects will be minimal because these banks have the government as a[b] backbone to fall back on and will probably be merged with banks with large balance sheets anyway.[/b] What they did not want was the bank going down with all the debtors escaping, as time goes on people will regain confidence back. Our banking system is much stronger than most other African countries-Ghana included.

Investors ain't coming to[b] Nigeria not because of our banks[/b] but the unfriendly business climate. The bad news is that there will be some  job losses eventually when they assets are "bridged" but again that's happening all over the world now.

Banks play vital roles in the development of any economy and the level of policy inconsistency by regulators gives negative signal to prospective investors. Agreed, these banks are not in good shape and the CBN came through various means to salvage the situation. First the CBN printed tax payer's money without parliamentary approval and dished out to these banks. As if that was not enough the cbn further directed that these banks had uptill 30th September to recapitalise only for the cbn to wake up suddenly and nationalisedd the banks. This action, will have immediate and future implications in terms of investor and customer confidence.Destroying jobs in an already saturated labour market is not a good policy move, especially in an economy that is witnessing stunted economic development in the last few decades.

Those banks have emerged as a new bank known as Keystone Bank Limited(KBL).In a text I got this morning,they claim that all staff are guaranteed of their job and depositor,s money as well.

Stop deceiving yourself. Did we not receive similar text in 2009? What happened afterwards? Nigerians should stop being naive.The degree of inconsistency in Sanusi's policy is capable of crumbling the economy. First, it was 30th september and now he woke up from his islamic banking razzmatazz and nationalised the banks. Haba! Sudden shocks such as this gives deadly blow to the entire system.

Pls stop sounding 'like a raging bull in china shop' and an alarmist!

You should say this to Sanusi.

Bravo!!! Sanusi Lamido Sanusi. You are a true champion and an advocate of the poor. May you live long to reap the fruit of your labour.

Sanusi, within 2 yrs, has been able to achieve what the global economic meltdown couldn't achieve for Nigeria. Bravo!!!

I am yet to see what Sanusi did right since he took over the CBN.

Investor and depositor confidence have been reduced to zero. A young economy like ours, with this self created turbulence, is heading to doom.

The future looks so bleak if sanusi is allowed to kill entrepreneurship  in this manner.

I need no much economics to understand the impact of this news to the economy of Nigeria.

As i write all ATM machines are on fire, there is massive withdrawal right now.

A staff of the affected bank just collapsed.

Foreign investors are afraid of stepping into Nigeria and those already in are moving to Ghana.

There is huge capital flight going on right now.

It will take us another 10 yrs of massive investment to recover from this self created shock.

Sanusi, welldone.

I think thesis and dissertation can be used interchangeably, so there is no remarkable difference between the two. However, most people tend to refer to dissertation as the final work submitted by PhD students, but on a general note they mean almost the same thing.

I'm asking myself a question, how did this topic make it to the front page.

To disgrace the him

This is a good idea. owerri, as much as i know, is a civil servant state and an entertainment spot for neighboring states. Aba and Onitsha are  no go areas when it comes to relaxation and entertainment. The project, when completed, will become a tourist hub in the eastern part of the country. Owerri has a very servile and enlightened citizenry, the presence of about four institutions of higher learning will make owerri an attractive destination for tourists. Afterall, tourists are mostly interested in women, security and good relaxation spot to enjoy their hard earned money.

Also, the investor seems not to be bothered much about the returns in terms of profit. This is his own little way of giving back to the society.

You have not said what you want. Do you need project topics or suggestions on how to write your project? Try to be explicit. There are tons of project topics, you only have to choose a researchable one.

Seun, so you posted this on front page so as to disgrace this nihilist?

I wonder how he escaped from the zoo

My brother, someone else is paying for this and you have just one year to run through this programme. What exactly do you stand to lose? Your current pay is not good enough to keep you in your present job. I would advise you give it a shot.

some mean babe.

is this a disease or what:: just 3weeks. SMH

The thing tire me o, na God save me.

My camp and NYSC experience wasn't that memorable. Even though i went to camp with TOO much money i ended up eating it alone. My mind was fixed on what becomes of me after the camp. I didn't want to be posted to the rural area and i was bordered to the last.

on the other hand, my girl of 4 yrs was busy having real fun in her own camp somewhere in the north. My God exposed her after the camp and got rid of her immediately.

In a school like OSU where it's common to have departmental population in upwards of 3000 students, and combined with the Nigerian factor of poor record keeping, it's almost impossible for lecturers to have detailed accurate records on each and every students, and in several cases, the intergrity of student data is left in the hands of people earning little less than 30k a month. With less than 5 million naira cash, it's very possible to find people who are happy to change a few Bs to As without sweat.

And how many Nigerian students and families can afford 5m for sorting?FYI, results move from the lecturers to the HOD, from there to the Dean of the faculty before it gets to the the Exams and Records unit and finally to the senate for approval. you mean a student will have to keep following his results as it traverses different admin units and then settles each office as it gets there?

The easiest way to alter results is when it is still on the lecturer's table or if you can meet with those who mark and record the scripts, and you must be a Jezebel to locate them all. But in the case of first class, it is almost practically impossible to influence all your results. The class of your degree, in most cases, are determined by your 100 level performance, and at this level most people are still carried away by the euphoria of the university life and the freedom it affords, and would hardly remember the word ''sorting.''

No matter how endowed your backside or wallets is, u can buy a 2.1

Even with a very big backside, you will almost bleed before you will have a 2.1.

Technically possibile due to the fact that the variables involved(lecturers, faculty) can be manipulated to achieve the result, but practically almost impossible due to these factors:
1, It involves cooperation of at least 70% of your lecturers from year 1 to final, some outside your dept, Nigerian universities have not become that bad. Principled lecturers still exist in good percentage who will not be party to such.
2, For one to stand a chance of being 'lifted' he should be a 2-1 material by self-efforts at least. A strong 2-1 material should not have much problem defending 1-1.
3, Sleeping for marks and sorting are usually almost the exclusive preserve of those that struggle not to fail or not to have caary over or spill over or 'let me just graduate'. Most 1-1 and strong 2-1 people have some decency and will hardly fall low to sleep with lecturers for marks. A sane lecturer will not give a 'runz' person A, can only push from fail to maybe E or C.

So it is hardly possible, practically, but these factors can be beaten though. But in my own school I knew, you can NEVER make it by runz, because apart from the many principledl lecturers who are ready to even expose colleagues, everybody in class nay school knows your capacity, so most 1-1 grads are well known and progress followed right from year 1. Everybody in class knows the usual A-getters and no lecturer dare give A to ano undeserving unkown quatity by sorting or sleeping.

Ever ready. You captured the whole thing. The truth is, it is practically impossible. Nigerian universities have not degenerated to such pitiable level. I am yet to meet a first class product who does not worth his salt. I think we should be talking about 2.1 here and not 1.1.

i am begging the Immigration dept and the federal govt of Nigeria not to allow any Igbo out to malaysia, they are not coming here to study but coming to oversea to destroy NIGERIA NAME MORE and happiely i was in Singapore when the law was implimented and deportation of lot of Nigeiran Igbo out of Singapore. And most of them was on light drugs issue and i can asure you that Singapore, China, Thailand and Indonesia has zero tolerance for drugs traffica, they hang and behead imediatly. If you want to know any thing about Malaysia, feel free to ask me but know that i am not helping to come over and sell drugs, but i can only help you secure admission to UK and Australia. You don't need to come here for anything. but i will do it for you. But to Malayais, the answer is Zero.

You are a bigot. I am surprised you said you have graduated from the university, even with your terrible intellect. Are Igbos the only group engaging in crimes in the countries you listed above? The issue with Malaysia is that 90% of Nigerians living there are either into drugs or Internet scam, irrespective of their ethnicity. Labeling Igbos bad while exonerating others is a mark of bigotry and primitiveness.You have demonstrated that the education in Malaysia is nothing to be proud of, evident in your nonobjective assessment of the situation of Nigerians in Malaysia.

I thought they said the SE has beaten SW in education

well good

You must be an alien. You don't have to conclude with one data set. If we make a historical comparison then you will be amazed at the result.BTW, the SE is not interested in beating anyone, we are only interested in getting our people educated.

Imo State is very interesting to me. Either it has probably one of the highest indigene populations in Nigeria, or the people there are exceptionally interested in education.

There is something exceptional about Imo state. Mere stepping into the state will convince you. Owerri is the only state capital in Nigeria where people speak correct English, including KEKE riders and market women A friend visited sometime ago and was surprised at how people drive in the state. The level of civility in Imo state is unmatched.

Education in Imo state is not about statistics, it is in the people.

@divacool

Thanks for explaining. Maybe i didn't get you right. What i posted above isn't my dissertation, it's just a case study i am currently working on.

I wonder why someone would contract another to write his dissertation.

antispam bot held me tight

The second case (marketing mgt) involves devising an implementable strategic marketing plan to enable a company (in this case i am required to choose a multinational company of my choice) to address the competitive market place under various constrains, needs and environment as well as its day to day operations.

Basically, I am required to;

a. identify the changing process of the business environment in which the
company operates and the marketing mix in order to succeed and reflect changes
in such environment.

b. devise ways to strengthen the competitive position of the company and discuss
ways to satisfy customers and achieve performance targets according to its
resources and abilities.

c. formulate segmentation, targeting and positioning (STP) strategies of the
company.

d. decision-making process about production and operations, finance, human resource management and other business issues in a complex situation.

At this level, am still gathering information on my company and have not yet started.

On the same train as in? Are you thru with the MBA?

Almost through.


Currently, we are working on a case study in Operations Mgt involving the Arnold Palmer Hospital in the US.The case involves evaluating Arnold Palmer Hospital’s approach in managing their quality of services, processes and supply chain from both a strategic and tactical viewpoint and to develop and justify a new approach towards enhancing the quality of services,processes and supply chain at the Hospital.

This week, I am working on identifying current operations strategy, feedback system and patient/customer waiting time etc

On the same train as in? Are you thru with the MBA?

Yes, i will finish by December hopefully.


Currently, we are working on case study in Operations Mgt involving the Arnold Palmer Hospital in the US.The case involves evaluating Arnold Palmer Hospital’s approach in managing their quality of services, processes and supply chain from both a strategic and tactical viewpoint and to develop and justify a new approach towards enhancing the quality of services,processes and supply chain at the Hospital.

This week, I am working on identifying current operations strategy, feedback system and patient/customer waiting time etc

The second case (marketing mgt) involves devising an implementable strategic marketing plan to enable a company (in this case i am required to choose a multinational company of my choice) to address the competitive market place under various constrains, needs and environment as well as its day to day operations.

Basically, I am required to;

a. identify the changing process of the business environment in which the company operates and the marketing mix in order to succeed and reflect changes
in such environment.

b. devise ways to strengthen the competitive position of the company and discuss ways to satisfy customers and achieve performance targets according to its
resources and abilities.

c. formulate segmentation, targeting and positioning (STP) strategies of the company.

d. decision-making process about production and operations, finance, human resource management and other business issues in a complex situation.

At this level, am still gathering information on my company and have not yet started.

what category are you in?

I am on the same train, not in 9j though

What is the nature of a typical MBA programme in Nigeria? I mean, course content, assignment, projects, lecture methods, cases etc.

Subscribing,

Do Law graduates write ICAN/ACCA exams?

Yes. Most even win Ican prizes

now we are on the same page. 4.9 POSSIBLE, 4.99 ALMOST IMPOSSIBLE.

Yes, i didn't quite get your line of argument previously. I was taking 4.99 to mean 4.9, i was wrong there. But i would rather blame the Nigerian press than the Uni. They may have quoted them wrongly.

But 4.99 almost impossible without any aid.

Impossible, 4.9 very possible in my own conclusion too. The problem is that of number error. Instead of 4.9, they declared 4.99.