₦airaland Forum

GenBuhari:
Pray for Nigeria ooo!

omo, we don dey pray since i small. Don't be surprised that people like this guy actually go to church. It seems as if our people have become desensitized to the word of God and therefore can no longer be convicted by it just like Pharoah.

he he he.

Somebody pls advice of on what to do. Somebody just slapped my babe. What do i do, besides this is happening just this week she has promised to let me into her world of intimacy.

chai, nigerians!! una too funny.

Nigeria politician caught with bellyful of cocaine

The Associated Press
Monday, May 17, 2010; 1:36 PM

LAGOS, Nigeria -- Nigeria's drug enforcement agency says it has arrested a politician who allegedly swallowed 2 kilograms (nearly 4.5 pounds) of cocaine to fund his election campaign.

The National Drug Law Enforcement Agency said Monday it arrested 52-year-old Eme Zuru Ayortor at Lagos' Murtala Mohammed International Airport. The agency says the pharmacist-turned-politician was trying to board a flight to Germany when a scanning machine detected an abnormality in his stomach.

Agents say they found 100 individually wrapped packages of cocaine inside his body. The agency says the politician claimed his failed 2007 run for the Edo state House of Assembly ruined him financially and smuggling drugs was the only way he could fund his 2011 election bid. He has yet to be charged.

http://www.washingtonpost.com/wp-dyn/content/article/2010/05/17/AR2010051702058.html

a product of the nigerian educational system.

rasputinn:
Jonathan has fired the GMD of NNPC,why is Sanusi still the CBN governor,the sacked NNPC GMD performed better than him(Sanusi) in the sense that he did not do a single thing as against Sanusi who came and spoilt everything

Sanusi might not be my favorite but you don't want to fire him at this very important juncture, they should keep him until the storm is over.

Nice,

This will bring him closer to the people

Nigerians are very very funny ha ha ha, does anyone actually think that he is going to be setting up the account? its probably going to be his secetary or the it technician in aso rock.

Dude, na wa o!

Where in the world do you get your information from?? Paulson and Bernanke have been criticized heavily for mismanaging the bailout and all its attached problems! And just in case you missed it, this recession has been described as worse than the depression!!

Did you even read what i posted? I said the CBN governor SHOULD NOT BE CRYING IN PUBLIC that it doesn't inspire confidence, i didn't say that paulson and bernanke were not criticized for mismanaging the bailout, geez. I also didn't say that the recession wasn't bad i just said that he prevented it from becoming a depression.

By the way, this recession was not as bad as the recession of '82. Back then, the unemployment rate was 15%, this current recession topped out at 9.8%, so get your facts right.

oyb,
Your comparison is awful, ABSOLUTELY AWFUL it shows that you know nothing of what you are talking about. There is no way a college dropout could be the head of the Central Bank, they just don't have the technical expertise. Would you like a high school dropout to treat your child when he needs surgery?

i mean - what business does a college dropout have with building the largest software maker in the world?

upbendel,
What a terrible, TERRRIBLE COMPARISON. You are comparing apples with oranges. Anyone can be an entrepreneur without any education but not everybody can be central bank governor. Its like putting me in charge of brain surgery.

Now back to the issue at hand. In politics they say good intentions are not enough but its your actions that matter. Maybe Sanusi had good intentions but he didn't execute properly. Yes he went after the Cecilla's and co. (that's not his job, its that of the SEC and the EFCC), its not the job of the central bank chairman to be chasing down creditors, each bank negotiates the loan terms with there creditors and if they default, well, that's why they have collateral. Sanusi should not be publishing people's names in the paper and chasing them up and down like a tax collector HIS JOB IS MONETARY  POLICY. that's why me and padddy lo are even questioning his competence because he doesn't seem to know what to do. Another reason why we are asking for papers he has published is that through his papers we can actually know what his positions on economic theory is and his ideas on how to solve economic problems that the country is facing. Look at Bernanke, some of his papers and research he did on the great depression when he was in academia has helped him in coming up with innovative solutions from preventing this recession from going to a depression. Meanwhile, we are still questioning our CBN governors credentials. It should not be so, in times of crisis and adversity you need you best team on the job and not 3rd team or the guys picked just to "complete the squad".

Now speaking of his leadership skills, the man was too rash in his decision making. He seemed to be too eager to please the Nigerian public that's why he overreacted when he first came to office, i don't even think he actually thought it [his plans] through or maybe he didn't even know how to go about enacting his reforms. He should make cold calculated decisions only after doing DUE DILLIGENCE and he should have the conviction to stand by his decision and NOT CRY IN PUBLIC,crying does not inspire much confidence. When Hank Paulson and co. were being 'destroyed' in congress, did they go around crying oooh its a southern agenda , they stuck by there guns that what they did was right for the country [U.S].

estatemark:
I personally do not see anything bad in wealth redistribution if only it will eventually lead to job creation through investment. If Mr A buy at N10 and sells @ N40 thereby making a profit ( reward for risk) of N30, this is wealth redistribution which is the basis for the wealth Nations, Now if this profit is invested in such as will create more jobs, then wealth has been created. My question is : what is wrong here or I am missing, ordinarily this is good for any economy

omo do you want to go down the slippery slope of socialism?? I don't think so o.

With all the qualifications, papers, and lectures that Alan Greenspan has under his belt, he admitted that his actions or lack thereof in regulating the mortgage industry was one of the catalysts for collapse of the sub-prime mortgage industry and the current recession we all find ourselves in. Millions have been ruined, jobs and homes lost, and there does not seem to be an end in sight. You don't see or hear anyone complaining or calling into question his pedigree or moral persuasion.

What the heck?? You are comparing apples with oranges. The American economy is a lottttttt more complex than the Nigerian one. Sanusi cannot even become a professor at my school talkless of being the chairman of the fed (yanki's central bank) over here.

I am totally lost. What are you talking about?? Come to think of it, exactly where in The States do you live

What does my location in the US have to do with what i am talking about? You said in your quote "that we do not have a system in place to support the instruments that the other guy had suggested." and i am giving you just rudimentary explainations of those instruments to you and you seem not to know what they mean abi do you want me to be ranting on an on about finance (to be honest finance too boring sef ).

Omo, he be like say i go come naija come start my hedge fund very soon self because it seems that there is not much financial literacy in naija. I would be a big fish in a small pond.

JaaizTech,
I am still waiting to find the papers that Sanusi has written, please can you forward them to me.

You presented two items; one that appeared to support the fact that we do not have a system in place to support the instruments that the other guy had suggested.  The other item you presented clearly contradicted and had no relation to your first argument.

upbendel,
oga, shorting is very easy just borrow a stock from someone that you expect to lose value hold it till it goes down and sell, then pay the guy you borrowed the stock from a commission, simple, even you and i can do it. Also, there is nothing hard about basic hedging, just buy a futures contract or an option on your security or commodity (or basically anything) in case the price collapses, its just like buying insurance on your property.

How come he has no written papers on Economics,but only politics and religion?

Paddy lo,
God bless you jare, how many papers have sanusi ever written on economics? Bernanke has written several and he was considered a genius at Princeton as for Sanusi, i have never read anything about him.

Its unbelievable that we don't have a solid vetting process fro political appointees in the Nigerian govt. it seems that anybody can get any position, at times, it seems that our people don't know what due dilligence is, they only like paying lip service to it. How can we have a man in poweful position WHO IS SOOOOOO SEXIST AND WHO IS A TRIBALIST? omo, nawa o.

upbendel,
Sanusi went to Ahmadu Bello and not Harvard. By the way, what does having poor roads water, light, schools, hospitals, or even a communication system have to do with being a central banker? The job of the central bank is monetary policy (the supply of money) and not chasing down bank creditors or building roads for that matter.

By the way, its the job of the bank to negotiate terms with there creditors, the central bank should not be running after them asking for a "pound of flesh". What if i borrowed money from Bank A does that mean i should be arrested? I thought that's why most banks lend money on collateral.

You presented two items; one that appeared to support the fact that we do not have a system in place to support the instruments that the other guy had suggested.  The other item you presented clearly contradicted and had no relation to your first argument.

oga, shorting is very easy just borrow a stock from someone that you expect to lose value hold it till it goes down and sell, then pay the guy you borrowed the stock from a commission, simple, even you and i can do it. Also, there is nothing hard about basic hedging, just buy a futures contract or an option on your security or commodity (or basically anything) in case the price collapses, its just like buying insurance on your property.

paddy lo
May the good Lord bless you. I agree with everything you say. I even watched a documentary on the ethiopian stock exchange and the lady who started it (she went to Cornell University) and boy oh boy it was incredible. Sanusi could have enacted stuff like this.

If u dont get it its ok.  . .The Complexities of a modern economy is not something everylay person on Nairaland would understand

Ben Bernanke Americas CBN Governor has  PHD in Economics. . .
If he starts breaking down macro-economic models u will also be asking what?

Your points are incredibly correct but let's not forget that Sanusi's failure is an example of Nigeria's failure in the educational sector. The average Nigerian economics student doesn't even know squat about derivatives and other tools to hedge risk i couldn't imagine how an average nairalander would understand this and we complain everyday about Nigerian companies hiring foreign workers.

[quote author=George_D link=topic=61012.msg6034146#msg6034146 date=1273824425]davidif,
looks like your a virgin truely. by lips i mean your hymen. [/quote]I am a guy therefore i can't have a hymen.

incredible.

[size=18pt]HOW THE HECK COULD A GROWN MAN BE CRYING?? I CAN'T IMAGINE TIM GEITHNER OR BERNANKE CRYING.[/size]

[size=18pt]LEBRON JAMES IS OUT OF THE PLAYOFFS (AND PROBABLY THE CAVS FOREVER) HOW MUCH CAN A CITY TAKE? THE ONLY THING GOOD ABOUT THE CITY OF CLEVELAND HAS BEEN TAKEN AWAY FROM THEM O MA SE O.[/size]

[quote author=kayci_d77 link=topic=442878.msg6028438#msg6028438 date=1273745871]Please can you tell me the company that is employing you in Nigeria, There are alot of IT firms in India why coming to nigeria that has millions of unemployed Graduates, to take away the little they have?[/quote]what does that have to do with how expensive lagos is?? The guy got a job offer and you are angry that he got a job. What is wrong with people nowadays sef abeg leave the guy alone jare.

[quote author=George_D link=topic=61012.msg6029013#msg6029013 date=1273751534]fly on davidif. as long as your 'lips' are unbroken, you still have my respect! [/quote]What does 'lips' mean?

Oga poster, you too funny

Comparing both sports is like comparing apple and oranges.

My friend attended Oral Roberts University in Oklahoma and it sounds similar.

They should start scouring all the F.G.C's across the country.

sid sun,

[size=18pt]YOU SHOULD JOIN THIS FORUM FOR FOREIGNERS LIVING IN NIGERIA. THEY CAN GIVE YOU AN OBJECTIVE VIEW OF LIVING IN NIGERIA. [/size]

http://www.oyibosonline.com/html/basics/first/index.html
http://www.oyibosonline.com/sm2/index.php

[size=18pt]BREDE HANGELAND[/size]