₦airaland Forum

i pray benitez heeds the voice of reason.

i still fail to understand why we ddnt use the flanks properly in the 1st match knowing fully well we were depleted. and without anything against lucas, i just dont think he has the liver to wear a liverpool shirt yet.

benitez should rather field azhar than a lucas and if he likes he should bench behayoun, i'l call for his sack str8 away ni.

rauising one's BP beyond normal even before season kicks off.

YNWA

ummmm, sure?

well, last year aint too far yet that u still contemplating over the attempt to commit suicide or not. just too bad that while u'r sulking in bed at nyt, the guy is shagging one damsel he's confessing love to at about same tym.

solution - think str8 and positive - look forward cos before you met him you weren't thinkin life was empty and u must hv met pple before him as well dt u obviously thot were mr. right too. life ddnt end wen dey turn out to mr. not right!

think!

lalaboi:
And who says i wasnt there when the Damage was being done? . . . . .

sauron did

@ jenju and crackles

its absolutely clear you are not conversant with the financial sector in nigeria and the laws governing the banks in nigeria.

all i can best say is that around the world, the financila sector remains the most regulated industry.

read the laws governing banks in nigeria and that would answer your question that CBN has the power to sack the management of any bank if they contravene certain guidleines.

to shed more light again -

the bank CEOs would be accused of rendering false returns to CBN. most of the bad loans were converted to CPs and BAs. thats why Union bank is on the list. all performing loans were passed to Consolidated Discount House. most of these banks do such for liquidity but when its abused and purposely to avoid provisioning.

my summation on a different page is as follows to briefly give you some basic things happening in the financial sector and this is from a practitioners point of view, we all saw this coming after the audit of all financila instuitutions books as at 28/02/2009 carried out in March/Aapril 2009  

Most of these banks have had non-performing loans mounting up to billions of naira and have ''financial engineeringly'' hid these loans from regulators simply by window dressing the portfolio by converting them to CPs and BAs sold to Discount Houses or fellow Banks to help shore up liquidity and save them from having to make provisions.
A recent audit of exposures to capital market and oil and gas operators by CBN of all financial institutions early this year revealed a lot of unhealthy financila practise with books of different books not tallying with claims they have.
Many of these institutions had to start selling back the CPs and BAs thus the staggering loan portfolios were back to their starting points and were HUGE that shocked the bank examiners themselves.
This findings was one of the reason for the recent pronouncement by the apex bank that CPs and BAs henceforth will no longer be treated as off-balance sheet items but on-balance sheet.
Returns by most of the banks were believed to have been engineered or reported differently. Borrowed funds securitised on buy-back agreements with conterparties were recorded as placements by some of these institutions while the counterparty in its own rendition to CBN during the exercise had probably described it in the right light. These conflicting reports led to massive queries served on virtually all the institutions to shed light on their returns. this led to more discoveries and sure must have given most of the top hierarchy in CBN goose pimples.
The action its believed to have been seen coming but not at this height. the audited accounts of these institutions are still under-going scrutiny over the provisions they have to make. its believed this delayed the release of oceanic's results while intercontinental bank's year end since february 2009 is yet to released as its still hanging with the regulatories over what level of disclosures to be made.

i'm sure everyone in the financila industry is aware of this/stuffs that have bn happening. The apex bank is of the view that relieving these CEOs of their jobs before government action on the loans will pave way for healthy competition and serve as lesson to others who have escaped the hammer not cos they were guilty of mismanagement of the loan portfolio disclosures over years but were bale to riggle out by turning most of these to performing or have been making adequte provisions over the years thus the shocks are easily absorbed by the institutions.
more reforms still under way from SLS. cos as a banker himself, he knows the ills and tricks being employed.

likewise, other stuffs such as single obligor limits, adherence to their credit risk policies, breach of basic ratios such as liquidity, capital adequacy using stress points were all committed

@kobojunkie
how far. quite an age. they have the power, just read BOFIA and for the reasons of these banks, provided yu answers here. some saw it coming but not in this drama.

www.nairaland.com/nigeria/topic-309816.0.html

@ifeleke
unless its re-confirmed to be untrue, sources say its true and the list of reasons is much whcih even carries prosecution. as at this moment, its labelled true.

news as this are very grave.

just got a positive confirmation from CBN sources that the story is TRUE!

a little inside stories may help readers -

Most of these banks have had non-performing loans mounting up to billions of naira and have ''financial engineeringly'' hid these loans from regulators simply by window dressing the portfolio by converting them to CPs and BAs sold to Discount Houses or fellow Banks to help shore up liquidity and save them from having to make provisions.
A recent audit of exposures to capital market and oil and gas operators by CBN of all financial institutions early this year revealed a lot of unhealthy financila practise with books of different books not tallying with claims they have.
Many of these institutions had to start selling back the CPs and BAs thus the staggering loan portfolios were back to their starting points and were HUGE that shocked the bank examiners themselves.
This findings was one of the reason for the recent pronouncement by the apex bank that CPs and BAs henceforth will no longer be treated as off-balance sheet items but on-balance sheet.
Returns by most of the banks were believed to have been engineered or reported differently. Borrowed funds securitised on buy-back agreements with conterparties were recorded as placements by some of these institutions while the counterparty in its own rendition to CBN during the exercise had probably described it in the right light. These conflicting reports led to massive queries served on virtually all the institutions to shed light on their returns. this led to more discoveries and sure must have given most of the top hierarchy in CBN goose pimples.
The action its believed to have been seen coming but not at this height. the audited accounts of these institutions are still under-going scrutiny over the provisions they have to make. its believed this delayed the release of oceanic's results while intercontinental bank's year end since february 2009 is yet to released as its still hanging with the regulatories over what level of disclosures to be made.

i'm sure everyone in the financila industry is aware of this/stuffs that have bn happening. The apex bank is of the view that relieving these CEOs of their jobs before government action on the loans will pave way for healthy competition and serve as lesson to others who have escaped the hammer not cos they were guilty of mismanagement of the loan portfolio disclosures over years but were bale to riggle out by turning most of these to performing or have been making adequte provisions over the years thus the shocks are easily absorbed by the institutions.
more reforms still under way from SLS. cos as a banker himself, he knows the ills and tricks being employed.

Full Text of the message as received this morning. News already causing ripples in the industry

August 14, 2009 10:18AMT

The Central Bank of Nigeria (CBN) has dismissed the Chief Executive Officcers and other top management of five major Nigerian Banks. The banks are Intercontinental Bank, Union Bank, Afri Bank, Oceanic Bank and Fin Bank.

This appears to be the first step in a drastic plan to clean up Nigeria's ailing banking industry.

The news comes at a time when the CBN governor, Sanusi Lamido Sanusi, a risk management expert is preparing to sit down for a meeting with all the Chairmen and Chief Executives of all twenty five of Nigeria's banks, later today in Lagos. Our sources say that no proxy representation is allowed at the meeting and this has forced many Chairmen and CEOs many of whom were on holiday abroad to fly back to Nigeria in the last twenty four hours.

CEOs of the following Nigeria banks have just been axed by CBN.

The news will soon be made public at close of meeting currently being held in Lagos today with all the CEOs and Chairmen in attendance.

(This is from reliable source and surely by evening it would be awash in all evening newspapers)

They are - Intercontinental bank Plc, Fin bank Plc, Union Bank Plc, Oceanic bank Plc and Afribank Plc

Likewise, further policy amendments and pronouncements will follow in the course of the new week.

i think i quite agree wt eldee, was meant to be battle for each otjher jugular. so i cast my humble vote for mailmac.

bt i must say, ibime's lines are top reasons i peep into this forum. he's still da BOMB!

nuthin ish about the album, FACT!

lets leave sentiments out - wont say he's totally wack but truth is that illbliss is just there - no spark and dts why the only tracks dt seemed fairly okay were cos he featured other artistes and the guy who mixed the beats was good.

shikena!

please i learnt the match will be replayed  next 2mrw!


referee cheated man utd cos he ddnt gv dem a penalty, he ddnt gv dem frivolous free kicks, poor fergusson!

UP BARCA,, the BEST team in Europe won!

after a while it looked more like a practise session for the barca boys, and who says u need 20 donkey years in coaching to be successful in your first year with a BIG club like BARCA.

merciless MESSI, 9 goals in UCL and 18mins more to still increase the tally.

crucial player for the BARCA treble, the guy dey write history!

World Footballer of the Year 2010, 2011!

by the way where are the running manure mouths? abi na referee cause this one? at least messi was denied an earlier goal by a clear shove in the box18 and no protest!

barca will win, the CUP, FAIRPLAY award, GOLDEN boot, , MVP, BEst TEAm, watelse, just name,

na ''pakute'' be the best option. put small torso suya meat, the rest an history!


by the way, pakute na the strong, reliable, dependable rat trap

we got all 2 loose if we drop points so i expect them to play hungrily, we never can tell the scummies can still drop points under pressure. benitez, no gamblesss plss

let zola play negative football, if we go with the force we went out against teams in the last coupla games, their defence will crumble in matter of minutes.

YNWA

@debosky

u were ryt on spot jare.

i guess we need ask hw much they were paid by betting cartels to help wt the conspiracy

rather than face obvious they are chasing shadows!

@Eastbay

thanx for taking us back to the first tie in camp nou sef, abeg help me ask dem all that questions again ooooo!.
was barca not denied a penalty as well?
who held drogba's legs on two occassions wen he was one on one wt valdes who is apparently the wealest link in the barca line-up? (i'm sure my grandma would hv done better wt the marquez error dt drogba flopped)
we need look beyond our nose and i request we go look at the match all over again, that barca's goal started from a chelsea error, the ball was played back, ballack (as usual wt his bad luck in not winning any continental trophy - club and national) jumped away from the ball to gv barca a deserved goal for the spirit they showed despite being unjustifiably a man down.

lets stop sulking and be more objective. chelsea deserved a penalty at stamford bridge but was not given - accepted. same way barca deserved a penalty and got a man sent off too due to poor officiating.!

i'm sure if drogba ddnt get carried away wt his antics and scored the glaring chances he had rather than dubious dives, u would nt say conspiracy.

if conspiracy, then chelsea defenders are as guilty for frustrating barca for 92 minutes and then allow the first direct shot on goal head straight into the net.

afterall, barca's goal was nt contentious else mayb that would hv gvn ur imaginary conspiracy theory a lil bite, it was a good goal and fans around the world happy for it.

conspiracy is only coming up cos chelsea lost and everyone is screaming the referee's head but wen decisions were against barca (the obvious red card), anelka smiled at himself he had done a perfect job by reducing barca and i still believe that supposed gift to chelsea was the turning point in the game.

face it - referee's error happens a lot which noone is happy about but to start talks about conspiracy, i guess it's from sour losers only!

if man utd had won arsenal wt a lone goal from ronaldo's free kick, mayb arsenal could hv screamed conspiracy cos it was a tackle nt worthy of a free kick but they lost by a margin that trying to blame referee cant hold water as 2 other well taken chances were converted.

if man utd had also lost the match, i'm sure we would still be arguing about fletcher's red card till now cos that was also another poor judgement, bt they dd what had to be done.

rather than scream conspiracy, i advise u all go hang drogba by his balls cos i dnt think the conspirators had controll over his legs when he was free on goal wt calamity valdes already sprawled on the ground at his mercy.

i guess they were only paid back in a coin chelsea too is used to - snatching wins at dead of time against run of play. it's bitter but makes football sweeet. u can imagine the feeling inside iniesta that nyt?

now can we watch a match worthy of a UCL semi-final and nt the drab we were treated to ynite,

opens 1st can beer, and adjust sitting position

did they ever had a hope of anything after their FA cup semi-final loss which to me was more feasible a silverware for them but professor wenger blew it.

unless them gunners are yet to wake up from their slumber sha,

dreamers!

to all chelsea fans i think u shldnt start celebrating yet. barca was better of the nyt and nuthin says they cant do it at stamford brideg d same way it was done under the 'special one' wen chelsea was seemingly at their best wt dt eto'o goal to win at stamford.

very very very dicey 2nd leg it will be and its only after that 90minutes we can say anything. its still open guys and to all d barca guys, i doff my hat. to guardiola and his boys, gud job but luck wasnt just there. eto'o missed, henry squandered and bojan wasted and a penalty went unawarded.

next week is the real game cos there'l be all to play for and all to lose.

however, we hope for an entertaining game of futbol oooooooooo!

joo ma lo gbadura lori railwayyyyy
(abeg no go pray for railway line)

ehinkule ojo ni won ma gbe oku balogun gba

na d backyard of d coward dem dey carry war general deadbody pass

@java
u dnt need insinuate wat is not cos u d one trying to bring in ur modo jibes into this again. u'v alredi made refernce to it earlier. dnt bore us in tjhis thread wt modo PR .

@other contributors
for me i bliv MI is gud and still stand by it. he has one thing i feel may work well in his favour which is ability to fuse his rap wt some other musical blends. anoti, safe, area, fast money fast cars are nice tracks but i dnt think it makes him KING yet. his illegal mixtape wasnt bad but more needs be done. the only snag i knw may be true which a fellow friend and someone earlier pointed out is his flow delivery. its same rhyming which after a while may get boring if nt laced wt stuffs to make tracks sound different. this i guess he's working on wt d few selected tracks above. lets gv it to him, he has tried in few months he's bn out and rily he has good ratings in lagos. for other towns, i guess he can build some fan base there too wt tym if his PR machines work to get more airwaves promotion for some of his tracks.
finally, i dnt think his critics hate him, they just dnt feel him doing somethin spectacular enuf but i think its too early to judge him. the guy try and got age and tym on his side. as i sed in an earlier post, i seen him once on stage and it was a fair outing for him and at least was faaaar better than some other rap artiste who performed at d vault some years back and at a show in benin which were double flops. tym i bliv will judge him more, he's GOOD and the competition aint rily there to pull him dwn which he's using well enuf to his advantage.

haba! not again, thot u'v treated this memory loss thing, sure u cant remeber wat we bn talking about?

owo igbe kii run

(shit money no dey smell)

@audio

verily from my comments too, i dnt think we can hurriedly label MI the messiah and agree wt u in that light but i believe he is good in his own right.
likewise, i dnt think this trend of always sayin we dnt hv acts the way we have the likes of jay-z, 50cents, rick, jada, eminem and the rest in the west comes into this. this is naija and the rules here differs. we dnt hv to follow d line of argument of our politicians that cos it cost more in US to buy a gallon of gasoline therefore petrol prices shld be increased as well while ignoring the social security and healthcare system obtainable there. the genre of rap demand here is slightly different.

presently, there are a lot of acts some are good bt nt well managed and i guess thats where the hype of MI is coming from, its nt easy staying around for a long tym in naija music if u cant do more than just delievring lyrics especially for rap artistes.

Is MI the messiah of rap music in naija? i dont agree yet as well until he proves more to me but to say he aint good at all, i think its rather not objective enuf. the current climate could hv helped him bt its same wt other acts who hv nt been able to exploit it as well to make a name and take over. he deserves some applause and surely he can only get better if he really wants to stay long on the scene.

i guess it's matter of tym

@maray

o ti baje ju. kini o ri to fin wa irun?

another one -

ma fi buredi (bread) ko mi l'obe (soup) lo

rockyfela:
YOU NAME ANY NAIJA RAPPER EVER IN THE HISTORY OF NAIJA THAT IS DOING WHAT MI IS DOING WITHIN A YEAR?
1. HIS ALBUM IS BLAZING
2. ILLEGAL MIXTAPE WAS ONE OF A KIND
3. AMAZING FEATURES ON SONGS?

PLEASE BECAUSE ONE SHOW DIDNT GO WELL WHICH AM SURE WASNT THAT BAD, JST THE POSTERS OPINION OF THE SHOW, LIKE THE LONDON SHOW WE CLEARLY SEE PEOPLE FEELING HIM. HE MAY NOT BE AS POPULAR AS 9ICE, DBANJ ND ALL BUT IT TOOK DBANJ 2 ALBUMS ND YEARS 2 GET 2 WHERE HE IS 2DAY, 9ICE 2 ALBUMS, 2FACE PLANTASHUN DAIZ PLUS AFRICAN QUEEN. HE( MI ) IS A RAPPER AND[b] NEVA IN NAIJA HAVE I SEEN PEOPLE REALLY INTRESTED IN RAP MUSIC BY A NAIJA ARTIST AFTER RUGGED[/b].

PLS FREE THE GUY. HE IS WORTH THE HYPE AND HE HAS SHOWN IT BY HIS CONSISTENT DELIVERY.

are u really minding those HATING the poor guy?

well, MI for me has done great though i dnt think dt makes him a messiah yet. is he being over-hyped? well, i guess his PR team are doing their jobs to make sure he not only delivers lyrics bt also get rewarded for it wt commercial success. i'v seen him on stage just once at this year's rythmn unplugged and he was fairly well accepted especially when pple were pissed off wt the poor organisation of the show which started well toooooo late. i hv his album which i actually bought to see what it is abt him dt pple were talking about cos the only track i'd appreciated prior to dt was the 'safe' and 'area' which were played on radio and i can say he's okay and his illegal music which i'v heard 3 tracks from sounds gud enuf too bt i think he still need be tested b4 saying he's messiah bt for pple nt to appreciate his efforts yet - i guess its simply HATING. some pple find it hard to accept fact some artiste are gud and combine commercial success wt watever dey do - no wonder MI feels he'l b the artiste to make chocolate city's bank account blow!

The guy is good - u dnt necessarily hv to accept but u can do urself a favour by not HATING or betterstill kip the HATE to urself.

These new songs from Mr PASA PASA (MP) are not HOT!!!

- well i just told u wat u asked us to tell u so, wat next should i tolded u?



abeg no mind me oo, i was just yoking ni ooooo

Eni ti Olorun ko dun ninu to lo n la sugar, jedi-jedi lo ma pa!

(person wey god no sweet him belle wey go dey lick sweetner go just die of chop yansh-chop yansh a.k.a pile)

@blinx
thanx for taking time 2 read d and see the points of my comment.

leave the PR machines running around like rabid dogs. they'l will never see beyond their noses and twist every statement to make a point. leave them wt their HATE!



o n BANGING si won leti !

@imehnathan
i guess u read sentences in the reverse cos i dnt think d shit u also posted is worth dignifying wt a response sef or betterstill go read my post all over again or 2 ease things for u a few explanations below-

i commented by looks cos a lot of his haters here make soo much point on it as if the artistes they are doing cheap PR stunts for look better than him (dnt throw stones wen u live in a glass house) and dts d questn i asked - cocoyam head or not he's still getting publicity contracts - the star quest stuff was after deathblow isnt it?

battling kennis ddnt make him a don but made him blow up and he hit dem all below d belt to turn tables in his favour. i bliv dt's worth more to devote energy than to reply deathblow and let ur foe feast on an easy road to keep the battle running (simple WAR tactics or go read 48 laws of power). if i must ask y must he even respond to deathblow? ur guess is as good as mine, mode9 needs a response to wax a pt2 in order to reinvent anoda album or wat? if rugged doesnt respond, wat does it do to him? nothing! so let mode9 go ahead and release deathblow2 it will flipflop as usual just like d early demise of deathblow1 cos only u his fans and PR machines are keeping the memory alive.

gv whoever u want the crown, fact is rugged has scored his points, made gud his dreams and he's no 40yr old wannabe who's mates are holidaying wt their grand-children. why ddnt u comment on other points i noted rather than pick words? i stated it, rugged's ibo sense of music is make good every opportunity, exploit any angle u can and earn urself a good wads - dts wat he's doing. i challenge to say wherever he has bn quoted as saying he's into music just for the love of hip-hop?

and by the way - keep ur hate to urself! this an open forum.

free me abeg, _{looong hissssssssssssssssssssssssssssss}