Politics › Re: How Federal Government Bail-out Helps Banks, Not States- Sahara Reporters by Dezzx(op): 10:34am On Nov 05, 2015 |
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Fashion › Re: Prince Alozie Winner Mr University Africa Competition by Dezzx(m): 10:20am On Nov 05, 2015 |
all dis gay boiz...* facepalms*  |
Romance › Re: My Man’s Dad Smacked My Bum by Dezzx(m): 10:13am On Nov 05, 2015 |
Estharfabian: And You didn't smack His?? like seriously? 
******Would've done mine Almost Immediately... *****No one smacks my Bum and go Scott-free..." " 
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Politics › How Federal Government Bail-out Helps Banks, Not States- Sahara Reporters by Dezzx(op): 10:01am On Nov 05, 2015*. Modified: 10:25am On Nov 05, 2015 |
The multi-billion naira bailout offered by the Federal Government to financially strapped state governments is more a windfall for several Nigerian commercial banks than a boost to states, a financial consultant has told SaharaReporters. CBN Governor Godwin Emefiele The Nigerian-born, UK-based consultant said he discovered “a fundamental problem with the way the bailout is structured” after he reviewed the strategic implication of the Bail-out arrangement. “I looked into the so-called bailouts and was shocked to realize that they were not actually meant for the states, but for the benefit of banks doing business with the affected states,” he said. “In effect, the Federal Government just guaranteed to banks that they will receive all the monies they loaned to state governments, even though most of the states had not defaulted on the loans,” he added. “In the long run, none of the states are benefiting from the bailout,” he said. According to him, the Federal Government had structured the bailouts in such a way that “it is the commercial banks that have been given new revenue streams spread over 226 months at the expense of the states.” The consultant added that most of the states he reviewed did not default on their bank payments, “hence there was no need for a bailout.” He added: “The ones that are struggling with payment of workers and contractors had been doing so for years now, so what they really need is financial re-structuring.” He added that the restructuring should come through expenditure control and more focused drives to dramatically increase internally generated revenues (IGR). The expert described the bailouts as a false panacea. “With the bailout, which they did not ask for or need, their financial states will improve in the very short-run—45 to 90 days—and then they will be worse off afterwards,” he predicted. He concluded that the big winners from the bailout arrangement “are commercial banks which stand to pocket N1.032 trillion over 226 months. The amount also represents the magnitude of the financial loss to states over the same period of time.” In a brief the consultant concluded that the bailout would be an albatross for state governments and “a financial bazaar for banks.” The UK-based consultant remarked that Zenith Bank would receive N347 billion from the bailout funds while First Bank would get N196 billion. He added that the United Bank for Africa (UBA) and Sterling Bank would pocket N104 billion N72 billion of the bailout funds respectively, adding that a variety of other commercial banks would receive smaller amounts. According to the consultant, if the state governments defaulted on their debts, Zenith Bank would have lost N193 billion, First Bank N110 billion, and UBA N105 billion. “If these monies were taken out of the banks’ balance sheets, the banks would become insolvent and, perhaps, collapse. So, rather than Jim Ovia [the majority shareholder at Zenith Bank] facing a possible loss of N193 billion, the Federal Government has handed him N347 billion. And Nigerians will have to repay this amount till at least 2034,” said the consultant. He said it was disturbing that this “fraudulent transfer of public funds to commercial banks was happening under Buhari.” He added: “I wonder whether the CBN [Central Bank of Nigeria] had lost their head, or they are now representing the interest of Jim Ovia and other bankers instead of that of Nigerians?” Recalling that the CBN had bailed out commercial banks in 2009, the financial expert wondered why the Buhari administration was “railroaded into another bailout of banks in the guise of bailing out so-called insolvent states.” He insisted that the CBN’s role in the bailout “smacks of fraud and questionable interest,” adding, “What assurance do we have that the cycle will not repeat itself in the future?” Cost to states Benefit to banks. http://saharareporters.com/2015/11/05/how-federal-government-bail-out-helps-banks-not-states |
Politics › Re: First Lady Aisha Buhari Meets With Sani Abacha's Daughter In Abuja by Dezzx(m): 7:41am On Nov 05, 2015 |
and Buhari,s family is associating with the most corrupt first family in the history of this country...i hope they went there to return the loot of there father......  |
Romance › Re: Enough Of This Gender Equality Hullabaloo by Dezzx(m): 4:23pm On Nov 03, 2015 |
naijaboiy: [color=#1980BC]it's not compulsory to support feminism. That doesn't make one a misogynist.[/color] bros face front, this is between me and the ops. |
Celebrities › Re: Sanusi's Daughter Writes Linda Ikeji About Her Commenters by Dezzx(m): 1:42pm On Nov 03, 2015 |
Gaidenk: Ok... So what apun?? you better change your ways |
Celebrities › Re: Sanusi's Daughter Writes Linda Ikeji About Her Commenters by Dezzx(m): 12:28pm On Nov 03, 2015 |
Gaidenk: Why should the aboki babe be using the internet at all? She should be selling fura or somin.. says the tribal bigot. |
Education › Re: Six Kinds Of freshers You Will Find In The University by Dezzx(m): 11:13pm On Oct 29, 2015 |
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Politics › Re: Emir Sanusi Strips Lamido Bayero Of Title by Dezzx(m): 9:31pm On Oct 28, 2015 |
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Politics › Re: Emir Sanusi Strips Lamido Bayero Of Title by Dezzx(m): 9:09pm On Oct 28, 2015 |
undercurrent: The man is still pained Sanusi & Kwankwaso outsmarted him.
2x FTC today! Acct No. 0123456789 Societe Generale Bank.
Seun pls do the needful. lolz... Sent your CV to 16075idd@gmail.com. |
Politics › Committees: Reps Reject Dogara’s Appointments - Punch by Dezzx(op): 10:38am On Oct 28, 2015 |
Two members of the House of Representatives on Tuesday rejected their appointments as head of standing committees of the House.
One of the lawmakers, Mr. Garba Dhatti-Muhammad, rejected his appointment as the Chairman of the House Committee on Solid Minerals Development.
Findings by The PUNCH showed that another member, Mr. Hassan Saleh, rejected his appointment as the Deputy Chairman, Committee on Local Content.
Dhatti-Muhammad announced the rejection of his appointment on the floor of the House.
A mild drama accompanied the development as members clapped for him, with some saying, “yes”, “correct move,” and “okay, no problem.”
The leadership of the House reacted quickly by replacing him with a member from Kaduna State, Mr. Sumaila Suleiman.
Dhatti-Muhammad, a member of the All Progressives Congress from Kaduna State, was one of the 96 chairmen of the standing committees of the House named by the Speaker, Mr. Yakubu Dogara, on Thursday last week.
Incidentally, the Speaker was in Israel when Dhatti-Muhammad made his decision public on Tuesday.
His excuse was that Dogara did not “consult” him before appointing him.
He added that as a former member of the Body of Principal Officers, he ought to have been consulted before he was named a committee chairman.
Dhatti-Muhammad was the Deputy Minority Whip in the Seventh Assembly.
“I use this opportunity to withdraw my chairmanship of the Committee on Solid Minerals,” he told the session, which was presided over by the Deputy Speaker, Mr. Yussuff Lasun.
However, The PUNCH gathered that Dhatti-Muhammad might have expected to chair a “bigger committee” than the one he was offered.
The House, by its recent grading of committees, rated the Committee on Solid Minerals as a “Grade ‘C’ Committee,” meaning that it is now lower in ranking than grades ‘A’ and ‘B’ committees.
On his part, Saleh, who is from Benue State, sent his letter of resignation to the Speaker’s office, from where it was taken to Lasun ‘s office since he was presiding over the House in the absence of Dogara.
“Many members have been grumbling over the manner some key committees were shared.
“There have been complaints that a lot of them did not get the committees befitting their status.
“Besides, there were members who expected to be named chairmen but did not get anything,” one member confided in The PUNCH.
It will be recalled that out of the 96 committees, the APC got 47, while the PDP took 46 seats.
But some APC members had grumbled that the opposition party got more grades ‘A’ and ‘B’ committees than the ruling party.
The House, through its spokesperson, Abdulrazak Namdas, explained that “all interests” were catered for in the distribution of the committees.
“The issue of federal character was considered. This idea that certain people were not carried along is not true. Everything was done with the spirit of fairness,” he added.
Namdas also told The PUNCH that a member had the right to reject an appointment to serve as a committee chairman, adding that no member would be forced to remain a chairman. http://punchng.com/2015/10/1667 |
Politics › Re: Dogara's Allies got juicy Head Of Committee Positions by Dezzx(op): 9:31pm On Oct 22, 2015 |
Dannyset: No be only Article na Atiku! Who told u I didn't read it. You think am like you? you read along the Headlines  |
Politics › Re: Dogara's Allies got juicy Head Of Committee Positions by Dezzx(op): 9:17pm On Oct 22, 2015 |
Dannyset: Mango juice or Palm kernel juice? Read the articke young man.  |
Politics › Dogara's Allies got juicy Head Of Committee Positions by Dezzx(op): 8:49pm On Oct 22, 2015*. Modified: 9:05pm On Oct 22, 2015 |
Speaker of House of Representatives, Yakubu Dogara Thursday announced the Chairmen and Vice Chairmen of the 96 House Committees.
However, the head of Committee on Niger Delta Affairs was not named.
Dogara’s allies got juicy Committees such as Appropriation, which is chaired by Abdulmunin Jibrin, Rima Shawulu Kwewum heads Army, Nkeiruka Onyejeocha, Aviation, Zakari Mohammed, Basic Education, Chike Okafor, Healthcare Services and Aminu Shehu Shagari Federal Judiciary.
Supporters of the House Leader, Rep. Femi Gbajabiamila got committees including, Customs headed by James Faleke, and Rufa’i Chachangi as the Vice Chairman of the committee, Sani Zoro heads the newly created Internally Displaced Persons, IDP and Garba Muhammed as the committee chairman on Solid Minerals.
There was also a balance between the ruling All Progressives Congress, APC, and the main opposition Peoples Democratic Party, PDP, as the ruling party APC, heads 48 Committees, PDP 45 while All Progressives Grand Alliance, APGA and the Social Democratic Party, SDP got one chairmanship slot each.
In the composition, the South heads 46 Committees while the North heads 50.
The House also compensated the South East APC members who were completely sidelined in the composition of the principal officers in line with the spirit of federal character as the two members Chike Okafor and Austin Chukwukere were made chairman Healthcare Services and vice chairman Finance respectively.
Those who retained the headships of their previous committees are Jones Onyeriri, Banking and Currency, Nkeiruka Onyejiocha, Aviation, Nnenna Ukeje, Foreign Affairs, Mohammed Munguno, Agriculture, Shehu Shagari, Judiciary, Nicholas Mutu, NDDC, and Aminu Suleiman, Education.
The new committees announced by the Speaker were Agricultural Colleges and Institutions chaired by Linus Okorie, Basic Education and Services, chaired byMuhammed Zakari, and Delegated Legislation which is headed by Simeon Arabo,
Others are FCT Judiciary, Laori Kwamoti, Health Institutions,Betty Apiafi, IDPs Refugees and Initiatives on North East, Headed by Sani Zoro Insurance and Actuarial Matters, Olufemi Fakeye, and Tertiary Education and Services which is chaired by Aminu Suleiman.
Because of the numerous institutions and parastatals in the health and education committees, the Speaker split them into two each for effective oversight. Source: http://dailypost.ng/2015/10/22/dogara-names-heads-of-house-committees/
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Family › Re: Caption This Photo by Dezzx(m): 2:35pm On Oct 22, 2015 |
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Politics › Re: PROFILE: New INEC Boss - Mahmood Yakubu by Dezzx(m): 1:43pm On Oct 21, 2015 |
[quote][/quote] |
Politics › Re: President Buhari Appoints New Inec Boss by Dezzx(m): 1:20pm On Oct 21, 2015 |
source? |
Politics › Re: Fani-Kayode Calls Bayo Shittu A Boko Haram Sympathiser Or A Coward by Dezzx(m): 1:11pm On Oct 21, 2015 |
for once i have to agree with FFK assertion, Shittu is either a coward or a closet boko haram supporter. i think the later is the case.  |
Celebrities › Re: Davido To Pay Abubakar's School Fees (lovely Photo) by Dezzx(m): 8:36pm On Oct 19, 2015 |
Atmmachine: Waste of money. Abokii na Abokii
Buhari is a good example. Though he had traveled round the world but that Abokiness still dey him body. tribal bigot  |
Celebrities › Re: Kcee's Fans Blast Him On Instagram For Mocking Woman's B4 & After Makeup Pics by Dezzx(m): 8:22am On Oct 13, 2015 |
When kettle is calling pot black. |
Romance › Re: Enough Of This Gender Equality Hullabaloo by Dezzx(m): 7:27am On Oct 13, 2015 |
quiinnBee: do you know wat misogynist means at alll are you asking me, don't you have a dictionary  ? |
Romance › Re: Enough Of This Gender Equality Hullabaloo by Dezzx(m): 11:38pm On Oct 12, 2015 |
PinkBarbie: Must isn't the same thing with most. Okay?  okay ass licker  |
Politics › Re: Ministerial Nominee,lai Mohammed's CV by Dezzx(m): 11:15pm On Oct 12, 2015 |
Liar Mohammed  |
Romance › Re: Enough Of This Gender Equality Hullabaloo by Dezzx(m): 11:03pm On Oct 12, 2015*. Modified: 11:39pm On Oct 12, 2015 |
PinkBarbie: I don't see any misogyny in what the op wrote.
Another ass licker (pinkbarbie) on the loose.  enjoy  op's ass must be coated with sugar. |
Romance › Re: Enough Of This Gender Equality Hullabaloo by Dezzx(m): 10:00pm On Oct 12, 2015 |
*sighs* and another misogynistic male specie is let loose on nairaland. |
Politics › Re: Namadi Sambo Hospitalized In US For Knee Surgery - Photo by Dezzx(m): 9:46pm On Oct 12, 2015 |
Ok |
Crime › Re: Woman Parades Husband Unclad After Catching Him Defiling Their 9 Year Old Maid by Dezzx(m): 9:32pm On Oct 12, 2015 |
Hilarious Cc Lalasticlala |
Nairaland General › Re: Hajj Stampede by Dezzx(m): 9:29pm On Oct 12, 2015 |
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Politics › Re: Ministerial Nominee, Babatunde Fashola’s CV by Dezzx(m): 11:50am On Oct 12, 2015 |
ok |
Politics › Re: Islamic State: If 10 Muslims Rape A Non-muslim Woman, She Becomes Muslim by Dezzx(m): 4:16pm On Oct 10, 2015 |
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European Football (EPL, UEFA, La Liga) › Re: Leicester Vs Arsenal (2 - 5) On 26th September 2015 by Dezzx(m): 3:15pm On Sep 26, 2015 |
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