₦airaland Forum

She should cut down on that nonsensical weight abeg,rubbish!What is good about being obese

chipmunkey:
Pdiddy go die o!

no be small thing

I hear you

Your problem is you have a one track mind.You need help

The truth of the matter is that most of those so called loans never actually left the shores of the donor nations and agencies. And NOI knows that! I mean, if tens of billions of dollars were actually loaned to Nigeria to execute some projects, those projects could have been identified. Were they started and completed? They always seem to be perpetually on-going. Look around the country at WB projects and see what happens there. They hardly benefit the local economy. First of all the consultants, mostly foreigners, and Western companies that usually run the projects, are grossly overpaid. In the end Nigerian tax payers are always made to pay back the high interest loans. Why,
for goodness sake, could you be telling the world that most Nigerians live under 1 dollar a day and at the same time asking the same poor people to pay up?

Why the rush to pay up? Was it because of the oil boom? Why wasn’t the case, valid as it is, made that those loans were bogus to start with, because there were really no projects on the ground to justify them? Most importantly, it should have been successfully argued, (as Desmond Tutu started to do), that already very poor people should not bear the heavy burden of paying such a bogus debt that didn’t impact their lives in the first place.

The tragedy is that contrary to the expectations of many Nigerians, our salvation cannot come from those imperialist institutes. Our solution has to be home-grown if it’s going to work for us.

With that in mind, let us look back in our recent history and see that there had been very prudent managers of resources. Some of the prominent cases are Jaja of Opobo. Jaja became a chief because his predecessor was heavily indebted and no one wanted to succeed him. Jaja stepped forward and paid off the debts in no time. Jaja’s dexterity in managing resources didn’t end in Anna Pepple House. He carried it on to the state he founded, the first modern state in
Africa, namely Opobo. Jaja was able to control foreign trade in the state (then it was mostly palm oil) so well that the British knew they had no chance against him on professional grounds. They eventually got rid of him using their military power.

Awolowo was also a very prudent manager of resources. As premier of the western region, he was able to manage revenue from cocoa so well that he introduced high quality free education to the region. As Nigeria’s finance minister, he was able to keep the value of the local currency high, higher than even the British currency, and this during a civil war!

Buhari was another prudent manager of resources. In a few months after taking power, he was able to bring inflation down from double digits to a single digit and this at a time of dwindling oil revenues. When there was the problem of excess liquidity due to currency trafficking, Buhari changed the color of the naira almost overnight. In so doing he was able to mop up more than 5 billion (in April 1984). The exercise was carried out swiftly with honesty, sincerity and determination. Hate Buhari or love him, that exercise was a stroke of genius. Indeed the naira subsequently became so strong that many of our foreign
trading partners complained about it. Buhari said a categorical No to the Bretton Woods Institutes with their enslaving conditionalities and instead went after our monies stolen and stashed overseas. One loquacious former minister was ‘diplomatically’ packaged and only narrowly missed landing in Lagos. If that man were from the south…Then IBB came and introduced SAP as prescribed by the Bretton Woods Institutes, and Nigerians have remained sapped.

The difference is clear: when somebody with strong patriotic zeal and a good idea manages our financial resources, our finances are good. When we follow the dictates of imperialist institutions, our finances are bad.

Our president has once again gone cap in hand to the same oppressors. Even as acting president he was ‘advised’ on his first visit to the USA to take a billion dollar loan on our behalf. NOI will once again be loaned to Nigeria at our president’s behest. But Nigerians need to ask themselves if her first outing was good for the country. Since it wasn’t, why all the excitement about NOI?

http://saharareporters.com/article/much-ado-about-ngozi-okonjo-iweala-noi

Much Ado about Ngozi Okonjo-Iweala (NOI)
By Uchenna Osigwe

Imagine a school which has been in operation for over 60 years and yet no student has graduated from it. But the students keep paying their fees faithfully while the proprietors of the school keep smiling to the bank. Each time a student raises the issue of graduation, the authorities of the school would give a vacuous lecture on following rules and paying fees on time.

Meanwhile the rules of the school make it virtually impossible for any student to graduate. The school also has spin doctors who tell the students how wonderful it would be when they finally graduate from the school. To this end the school would give high interest loans to the students to pay their school fees, compounding their already sorry financial situation. But what many of the students don’t know is that the owners of the school do not plan to graduate any student from the school. The few students who know and opt out are denigrated and smeared and their lives made as difficult as possible by the well connected school authorities.

Substitute the World Bank (WB) for the school and the students for ‘third world’ countries, and you get a picture of our predicament in the global political economy.

Madam NOI works for the WB (now newly appointed minister in the GEJ cabinet). She was ‘loaned’ to the Obasanjo administration by that institution between 2003 and 2007 at a high cost, first as Finance Minister and then, as she fell out of favour, probably as the inner circle of the regime became increasingly uncomfortable with her growing popularity, she was unceremoniously demoted to Foreign Affairs. Basically, she lost out in a palace power struggle. She understood what happened and beat a hasty retreat, promptly tendering her resignation. It is no secret that many Nigerians are fascinated by the woman. And that is understandable since she rose to a great height in the WB, an institution that has a pervasive, though far from benign, presence all over the world. But the fascination Nigerians have for her is an overflow or a reflection of their generally naïve fascination with anything Western.

NOI was supposed to be a breath of fresh air for the Obasanjo administration, an asset that made it acceptable in Western capitals. NOI made sure that the administration’s financial rules followed the direction of the Bretton Woods Institutions. The highlight of that subservience was the highly questionable debt buy-back scheme engineered by NOI and readily accepted by the Obasanjo administration.

The argument goes that Nigeria was spending in excess of 1 billion dollars annually to service her foreign debts. So, why not pay up the debt which at that time was over 30 billion dollars and then stop servicing the loans? The money saved would then be diverted to other developmental projects. At the end of the deal, Nigeria parted with 13 billion dollars and got nothing but the illusory relief of being ‘free of debt.’ Illusory because as I write, the country’s external debt is
heading rapidly into double digits, if it is not already there (these things are usually shrouded in secrecy). Many discerning minds cried foul as the scheme unfolded. Local financial experts pointed out that India, an economy that was hundred times stronger than Nigeria would not agree to part with such a colossal sum at one go.

I have nothing against NOI and actually rejoice with her in her modest achievements in her chosen field. But I am also conscious of the fact that the institutes she works for are imperialist institutes that have not lifted any so-called third world country out of poverty. I challenge anybody reading this to point out one country in the southern hemisphere that has been lifted out of poverty by the institutes that has been in existence for that very reason for almost 70 years now. None. On the contrary, those who achieved any significant measure of financial autonomy, like Brazil, did it in opposition, indeed in defiance, to the prescriptions of those institutes.

If NOI is a financial wizard, what has Nigeria gained from her wizardry? At a time of unprecedented oil revenues and with her in the driving seat, did the value of the naira improve? No. Was inflation reigned in? No. Were the emoluments of political office holders in line with what one should expect in a struggling economy? No. Was there fiscal discipline in the polity? The answer again is no. The executive arm, under the Balogun of Owo, treated public finances as its personal property, and NOI played along. One glaring example was the withholding of Lagos state local government funds in defiance of the ruling of the Supreme Court. That flagrant abuse of office by the president would have been enough for the woman to resign. Publishing what local governments take in each month didn’t particularly make the finance ministry a disciplined one. She could have told the president that who gets paid or not should not depend on his whims and caprices. Again, loading off billions of dollars to already rich nations in the name of paying off bogus debts does not seem like financial wizardry to me.

No!Politics is for a privileged few.Mumu

@OP How exactly do you mean 'people leaving their talents for politics'?What is wrong with people in other professions venturing into politics?You're so parochial in your thinking

It's human nature,people seldom, if ever take their own advice

crowaddy:
Guess i can see who the morons are!
Who said the people detonating the bombs are suicide bombers?
Guess shallow reasoning would not let some people go past the suicide story. Like i mentioned earlier common sense hasmproven that the detonators and planters of these bombs are not on suscide missions So therei is no way there gonna detonate a bomb and kill themselves or at best risk mob lynching.
Its obvious  u dont know abuja(Violet and cold) thats why your running your mouth!

Yawwwnnn,keep talking/ typing who knows someday you just might say something intelligent & devoid of egregious blunders.Assuming there are no suicide bombers yet,aren't those cars crammed together in one spot with all the accompanying commuters make a prime & juicy target for anyone planning on causing mischief?Is it not possible to drive a car laden with explosives and detonate it via a timed device whilst the extremist must have been long gone.Sometimes I wonder how some folks can live without brains & still breathe

^^I was going to come down heavy on that nincompoop but seeing you've done me the honours i'll pass just this once

Islamic Banking: CBN rejects Al Qaeda request for banking licence

     
…Says Islamic banking politicized
…Asks antagonists to go to court

Emma Ujah, Abuja Bureau Chief
Amidst fears that the proposed Islamic banking system, may create an avenue for terrorist financing in Nigeria, the Governor of Central Bank of Nigeria, CBN, Mallam Sanusi Lamido Sanusi, Monday revealed that a group had earlier in the 1990s, applied for licence to establish an Al Qaeda Bank in the country but was not approved

The CBN chief who disclosed this at the opening of an international conference on Islamic Banking in Abuja, said that the group’s application was turned down for failing to meet requirements for banking licence.

Another group that applied for licence to establish another Islamic  Al Barka Bank, was equally turned down, Mallam Sanusi said.

His words, “in the early 1990s two applications were received and processed for Islamic banking licence: Al Barka Bank and Al Qaeda Bank.  However, those two banks could not meet the requirement for the grant of a final licence”.

But the governor insisted that he would pursue the current move for the establishment of Islamic banks in the country unless stopped by a law court, as according to him, the history of Islamic banking dated back to 1991.

“The history of Islamic Banking in Nigeria dates back to 1991 with the promulgation of BOFIA, Banking and Other Financial Institutions Act which provided the legal guidelines for the regulation of non-interest of profit/loss sharing banking in the country”, he said.

Mallam Sanusi added that by  1996, the then Habib Bank sought and obtained CBN approval to operate Islamic banking model.

Also Jaiz, a company that has been promoting Islamic banking in Nigeria, “got an approval in principle in 2004 but could not take off due to lack of capital”.

He said that the CBN under his administration was not promoting Islamic banking but only doing its duties of providing necessary guidelines to ensure adequate regulation for its operations.

His words, “we have the responsibility to continue to explain that the CBN is neither promoting nor establishing an Islamic bank.  The CBN is licensing and regulating Islamic banking and that is under the law”.

Mallam Sanusi said critics of Islamic banking were politicizing the issue based on religion rather than looking at it from the economic perspective.

“I think it is because of Nigerian politics- highly divided, highly sectarian.  I think we are in the habit of using every opportunity to exploit religion or ethnic difference for political ends”, he said.

The governor said that the CBN was acting within the Provisions of the Banks and Other financial Institutions Act, BOFIA, and that those who felt otherwise should go to court.

“Anybody who feels Islamic banking is illegal should go to a court of law because it is only the court that decides if something is illegal or not.  If a court says it is illegal, we will stop it.

“But we don’t think the court will say so because we know it is within the realms of the law.  It is only a court of law that can make a pronouncement on the legality of anything”.

In his welcome address, the CBN Deputy Governor , Financial System Stability, Dr. Kingsley Moghalu made effort at convincing the audience that Islamic banking was not a ploy to Islamize the nation.

He said the banking model existed in countries with Muslim minorities such as the United States of America and the United Kingdom.

He said the risk sharing principle would lend the bank’s resources for huge infrastructure projects in the power and transportation sector.

He said that Nigeria had become an Executive member of the Board of the Islamic Development Bank, IDB, and would benefit from the near $ 1 trillion assets of Islamic banks across the globe.    Mr. Isamil Toure who represented the President of the IDB, Dr. Ahmed Ali said that with the population of Nigeria, it would become the largest market for Islamic banking as well as IDB financing

[url]http://www.vanguardngr.com/2011/07/islamic-banking-cbn-rejects-al-qaeda-request-for-banking-licence/
[/url]

crowaddy:
If Govt takes action people complain, i guess thats the price of leadership.
This stop and search action no matter how inconvinient  it might seems was a reaction to specific threat of  some human beings driving in bombs to abuja city of which the security agencies were trying to nip.
Would we rather allow the murder of fellow nigerians than be late for civil service work?

Crowad abi na coward whatever you call yourself,you're a bloody m*oron!Are you saying the lives of all those commuters aren't worth it?Only the lives of the elite is worth protecting?How does barricading off roads completely prevent a suicide bomber?What if the extremist decides to detonate his explosive(s) in that gridlock do you know the colossal damage that would result from such an act

baslone:
From their faces and swag, you shall know a bomber when you see one!

abi o

D sage:
The fresh graduates at OBAFEMI AWOLOWO UNIVERSITY who were just received their call up letter for batch B 2011 NYSC programm has refused to go to BORNO STATE{i.e BOKO HARAM STATE}for their youth service due to the present situation and incessant killing of people by great boko haramist in the state.The demand made by this people not to go to any nothern state,especially borno state which is the sources of Boko Wahala are yet to be answered. What you people think,are they in right position to diside themself where to exercise their NYSC or not,do you support their resistance to such offer?TO ME I CANT GO TO WHERE THEY WILL KILL ME FOR MY PARENT,simple.What about you?

OP are you a graduate?Seriously?

"Al-Qaeda to use Nigeria as HQ" - British Intelligence

British Intelligence has warned the UK Prime Minister David Cameron that terrorist group Al-Qaeda is determined to make Nigeria its command and control center for plotting attacks on the West.

MI5
British Intelligence has warned the UK Prime Minister David Cameron that terrorist group Al-Qaeda is determined to make Nigeria its command and control center for plotting attacks on the West.

A report published in The Mirrorclaimed that MI5 warned that radical Islamic groups operating in Nigeria, especially the Boko Haram sect have dramatically stepped up their campaign.

Boko Haram which operates mainly around the Maiduguri area has claimed responsibility for more than a dozen bomb attacks in the country including a recent suicide explosion at the Police Force Headquarters in Abuja.

The group has killed hundreds of people since it started its jihadist campaign against the Nigerian people and government.

“There are dozens of flights every day from Lagos to London. We either help stop the terrorists here, or we will be dealing with them on the streets of Britain,” a British official told the paper.

National Security Adviser (NSA), General Andrew Azazi has deployed every machinery at his disposal to identify the sponsors of the Islamic sect with a means to crippling the radical group.

The NSA has prioritized intelligence as the key means of crushing the radical group, which has so far defied government forces.

A key figure in the security services at the weekend told us that govenrment suspects some serving and retired military personnel who are unhappy with the current political equation in the country are responsible for the violent attacks currently being executed under the trade name Boko Haram.

http://www.dailytimes.com.ng/article/al-qaeda-use-nigeria-hq-british-intelligence

For those parrying the shots directed at GEJ & directing the missiles to the states,are you saying that GEJ hasn't got the right to reject a candidate & insist on one that fits the bill?All these 'GEJ can't do nothing''his hands are tied' is pure hogwash.We just getting more of the same,nothing new

Brother?Huh

emmatok:
Sorry that will be difficult to prove in a Nigerian court.

You reckon?
Another possible verdict in a criminal case is "not guilty by reason of insanity." In our
criminal justice system, individuals only are punished if they are found to be morally
responsible for their actions. Simply stated, a person is found not guilty by reason of
insanity if he or she was not capable of understanding right from wrong. A verdict of not
guilty by reason of insanity does not mean that the accused will go free. Usually, an
accused found not guilty by reason of insanity will be confined to a mental institution for
treatment to protect self-harm and the community.

http://www.nigerianlawsite.citymaker.com/f/Introduction_to_Legal_Literacy_in_Nigeria.pdf

emmatok:
You be lawyer?

Hallucinations, paranoid, bizarre delusions or whatever will not stand in court.

This is a clear case of murder.

That is where you're wrong.All it takes is a lawyer that knows his onions as well as a psychiatrist to prove beyond reasonable doubt that the man is/was mentally unbalanced & he'll walk.He'll likely be sentenced to a mental institution to get help

Yeah it's always the devil.This devil don suffer

wesley80:
I've always wondered why supposedly disreputable news orgs like SR that have been 'caught in the Act' too many times that i've lost count, continue to thrive and unashamedly so. Each time i try to ignore the bitter truth but at times like this, its just too glaring to be ignored. Fact is these guys will continue to thrive and will continue to write what they like because they understand Nigerians and they know for a fact that we just like in every facet of our national life, NEVER LEARN! Or how else do you explain a report from SR already in the frontpage and trending and with a page gone, no one is yet to question SR's always reliable source!
Na so we go dey dey?

Yeah right,we should rather stick to your ThisDay I presume.Mumu

Old story   @ehie preach sista,preach

These fools going on about the tarnished image of Naija over one i*diot that got airborne with some fake papers shld just hush it.Ahn ahn,what nonsense!America has more inmates than the population of some countries yet they're not stereotyped.The other day some white retard tried to mug me & i put him in his place.Who knows,he was probably Nigerian too.If you feel too bad you can always jump off the closest bridge to you,buncha retards

kandiikane:
Excuse me, maybe he was not thinking straight. Not everyone is smart like you on where to do a ritual killing.

First timer, they did not explain to him the matters on how to kill her without getting caught or maybe the occultists did not tell him how because they wanted him to get caught so they can make money from the bosoms.

It just does not make sense him being mentally ill. I don't see it.

It's always wise to engage your brain before you spew fuckery!Read through what you wrote again & tell us it makes sense

Kandikane,ignorance is not bliss.You just exhibited the height of ignorance.You do realise this is not an insult right

If this case eventually makes it to court he could claim non compos mentis & eventually win.What I really can't fathom is why she had to go back,why o why.this kind of stories just shake my belief in the marriage institution.

Egba girl:
Jus wondering (honestly),  Didn't this make the frontpage some weeks ago Why is it up again?? Is there something that we are supposed to notice?

True,i was thinking the same thing

The UK Daily Mail is reporting that former NFL great O.J. Simpson allegedly confessed to a producer for the Oprah Winfrey Show that he murdered his ex-wife Nicole Brown Simpson in an act of self-defense.


The report by the National Enquirer, which the Daily Mail sourced, claims that Simpson spotted Nicole at a restaurant with the children a few hours before the murder occurred. He claims that she snubbed him when he interrupted their meal.

“O.J. said he went home and kept getting angrier and angrier and worked himself into an absolute rage,” the source told the Enquirer.


He allegedly then went to the house, pounded on the door and no one answered. A few minutes later, Nicole opened the door a few with a knife in her hand.

O.J. told the producer, “she was yelling go away! Go away! And waving the knife around at me. At one point she was lunging at me with the knife and I was just trying to talk to her. Nicole stepped out of the apartment – slashing the knife in the air.”

This is when Simpson claims he lost complete control.

‘”I was in such a rage that something just snapped. I couldn’t take her constant taunting of me with other men or her using drugs and drinking while my kids were living with her. I went beserk.”

Simpson then went on to describe the gruesome murder.

“Before I knew what I was doing I took the knife away from Nicole and started slashing at her. I cut her over and over again until she was lifeless. I was shocked at my own anger – I had killed the woman I had loved for so long.”

He also admitted to murdering Ron Goldman when he showed up and found Nicole’s lifeless body on the floor.


The yet to be confirmed story breaks just a week after Oprah said that her dream is to have Simpson tell the truth about that June 12th, 1994 night.

The murder, which took place 17 years ago, split the nation along racial lines when Simpson was acquitted in 1995 in what many called the “Trial of the Century.”

Split-screens were shown across the country of whites disgusted with the decision, while groups of Blacks were seen cheering on the acquittal.

Simpson is currently serving a nine-year sentence at Nevada’s Lovelock Correctional Centre, after he was convicted of robbery and kidnapping in Las Vegas in October 2008.

http://newsone.com/nation/samalesh/oj-simpson-murder-confession-nicole-brown-simpson/

Update on Abuja Curfew

In a televised broadcast,the Commissioner of police of the FCT recanted claims of a curfew imposed on the territory.Advising residents to go about their businesses without hindrance.So Abuja is open for business as usual

Watch the screening of president Jonathan's ministerial nominees live here: http://www.ooduatv.com/

Yeah right by 2025 if we do not disintegrate before then.I'm hard pressed to see Nigeria as a single unit in the coming years

cogitoErgo:
So how do we know this guy is drunk? Couldn't he had been knocked down by someone?

Are you sane,or you just plain dumb?