₦airaland Forum

jlinkd78:
Fair analysis

Thank you.

This three individuals ( Okonjo, Dora and Soludo ) have done remarkable things in the history of Nigeria.

The problem with Nigeria is inability to sustain a remarkable development which if sustain will make a lasting changes in every sectors of our economic and make our nation Nigeria the envy among other countries of the world but do to nepotism, tribalism and favouritism Nigeria has being continue to move backward instead of moving in right direction and this bring me to three remarkable reforms done by three Igbos professionalist. This three individuals created a lasting changes that we still enjoyed as a nation today not minding how there ethnic groups where they come from has been marginalised by many successive Nigeria government .

Okonjo Iweala.
During her 25 years at the World Bank, she is credited with spearheading several initiatives to assist low-income countries, in particular raising nearly $50bn in 2010 from donors for the International Development Association (IDA), the World Bank's fund for the poorest countries.
But it is her reform agenda in Nigeria in which she takes real pride - especially the two times she served as the country's finance minister under Presidents Olusegun Obasanjo and Goodluck Jonathan.
Ms Okonjo-Iweala gave up her job at the World Bank to work as Nigerian finance minister
One of her greatest achievements was leading a team which negotiated a whopping $18bn debt write-off in 2005 for the country, helping Nigeria obtain its first ever sovereign debt rating.
The country's debts had dated back to the early 1980s, and had ballooned to more than $35bn due to penalties and late fees during the 1990s.
Her economic reforms had a far-reaching impact and saved Nigeria at a critical period, according to prominent Nigerian economist, Bismarck Rewane.
This included de-linking the budget from the oil price, allowing the country to save money in a special account when oil prices were high.
"It was this buffer that ensured Nigeria's economy survived between 2008 and 2009," Mr Rewane told the BBC.
Ms Okonjo-Iweala had given up a well-paid job at the World Bank and left her family in Washington, where her husband works as a neurosurgeon, to work in Nigeria, where unlike other ministers she did not have a large domestic staff or fleet of cars.

Professor Akunyili had occupied the position of NAFDAC's director for seven years and, during that time, managed to reduce Nigeria's incidence of fake drugs by about 90%.

With a population of 170 million, Professor Akunyili has undoubtedly saved many lives in Nigeria from what she termed medical 'mass murder'.

Akunyili's own diabetic sister, Vivian, died in her mid-20s from taking fake insulin. In a 2006 speech entitled, Women Leadership in Emerging Democracy – My NAFDAC Experience, she criticised the fake drug industry, calling it “terrorism” and “mass murder”. To sell chalk in place of antibiotics, powder in place of anti-malaria drugs, or unsterilized water in place of adrenalin is clearly to sell death in return for profit.

Death threats

Unsurprisingly, during her reign as the director of NAFDAC, Akunyili faced death threats against herself, her family, and her staff. Those operating the fake drug industry later took it a step further and attempted to murder her in 2003.

"My car was shot from behind on 26 December 2003” she told the BBC.

“The bullet went through my headscarf and passed through the windscreen of the car, leaving my hair burnt.

When the drug counterfeiters heard I might be quitting the job they started popping champagne in Onitsha market, rejoicing that this wicked woman would soon quit the scene."

"But I felt if I left the job that would be victory for the drug counterfeiters," she said.


Soludo’s reforms started soon after he was appointed Governor of the Central Bank of Nigeria in May 2004, when he moved to consolidate the country’s creaking banking system. Widely recognized as being unfit to finance the country’s desired transformation into a leading economy, the banking sector was an obvious place to begin his reforms.

“Confidence in the system was very low,” Soludo recalls. “All the banks put together were smaller than the fourth-largest bank in South Africa, and none of them was in the top 1,000 banks in the world.1 If any private sector entity needed a loan of US$500m, it had to syndicate it from all the banks put together – or go abroad.”

In fact, Nigeria’s total banking sector assets amounted to less than 20% of GDP at the time, and bank loans were about 4% of the country’s GDP. “Talk about a private sector-led economy was simply a slogan, as there was no financial system to power that,” says Soludo. “We came to the conclusion that the system needed to be brought down and recreated from scratch.”

Creative destruction

The result was a huge practical exercise in creative destruction. On 6 July 2004, barely a month after he had assumed office, Soludo announced a 13-point agenda to commence the banking revolution. The agenda included raising banks’ total capitalization from about $15m to $200m. This was to be completed within 18 months for both foreign and domestic banks in Nigeria. The plan was ultimately to unlock huge deposits trapped in insolvent banks.

The reforms targeted 89 fragile, largely family-owned banks, of which 16 were in a precarious state. The consolidation of the banks through a process of mergers and acquisitions involved risk management and risk-based supervision, as well as new corporate governance standards, and featured zero tolerance for any violations of the process.

“Nigeria had never experienced a policy revolution of that magnitude,” says Soludo. “There was uproar, and the opposition by vested interests was gargantuan. Even an arm of the national Parliament, the Senate, passed two laws to scuttle the consolidation, and I received 21 written threats to my life and the lives of my family.

“You can imagine the political pressures,” he continues. “Banks are not owned by the poor people in the street. Their owners are some of the most politically connected and powerful people in society. Some of my close friends also had significant stakes in the banks. The pressures were immense and intense, but we had a job to do.” In a country such as Nigeria, this commitment to seeing the job through required extraordinary courage.

No Individual from any tribe in the History of Nigeria who have done such remarkable economic transformation with little power as minister, Director and CBN governor. This show that if actually Igbo man or woman is given a chance to be president Nigeria will see alot of transformation.

Fahdiga:
Only the east can produce such people

please used Igbos instead of East .

PoloG:
Okonjo was a corrupt thief... only dora tried and she was killed

Can you prove it but please do not make your reference from Blackmailers " Saharareporter".?

The problem with Nigeria is inability to sustain a remarkable development which if sustain will make a lasting changes in every sectors of our economic and make our nation Nigeria the envy among other countries of the world but do to nepotism, tribalism and favouritism Nigeria has being continue to move backward instead of moving in right direction and this bring me to three remarkable reforms done by three Igbos professionalist. This three individuals created a lasting changes that we still enjoyed as a nation today not minding how there ethnic groups where they come from has been marginalised by many successive Nigeria government .

Okonjo Iweala.
During her 25 years at the World Bank, she is credited with spearheading several initiatives to assist low-income countries, in particular raising nearly $50bn in 2010 from donors for the International Development Association (IDA), the World Bank's fund for the poorest countries.
But it is her reform agenda in Nigeria in which she takes real pride - especially the two times she served as the country's finance minister under Presidents Olusegun Obasanjo and Goodluck Jonathan.
Ms Okonjo-Iweala gave up her job at the World Bank to work as Nigerian finance minister
One of her greatest achievements was leading a team which negotiated a whopping $18bn debt write-off in 2005 for the country, helping Nigeria obtain its first ever sovereign debt rating.
The country's debts had dated back to the early 1980s, and had ballooned to more than $35bn due to penalties and late fees during the 1990s.
Her economic reforms had a far-reaching impact and saved Nigeria at a critical period, according to prominent Nigerian economist, Bismarck Rewane.
This included de-linking the budget from the oil price, allowing the country to save money in a special account when oil prices were high.
"It was this buffer that ensured Nigeria's economy survived between 2008 and 2009," Mr Rewane told the BBC.
Ms Okonjo-Iweala had given up a well-paid job at the World Bank and left her family in Washington, where her husband works as a neurosurgeon, to work in Nigeria, where unlike other ministers she did not have a large domestic staff or fleet of cars.

Professor Akunyili had occupied the position of NAFDAC's director for seven years and, during that time, managed to reduce Nigeria's incidence of fake drugs by about 90%.

With a population of 170 million, Professor Akunyili has undoubtedly saved many lives in Nigeria from what she termed medical 'mass murder'.

Akunyili's own diabetic sister, Vivian, died in her mid-20s from taking fake insulin. In a 2006 speech entitled, Women Leadership in Emerging Democracy – My NAFDAC Experience, she criticised the fake drug industry, calling it “terrorism” and “mass murder”. To sell chalk in place of antibiotics, powder in place of anti-malaria drugs, or unsterilized water in place of adrenalin is clearly to sell death in return for profit.

Death threats

Unsurprisingly, during her reign as the director of NAFDAC, Akunyili faced death threats against herself, her family, and her staff. Those operating the fake drug industry later took it a step further and attempted to murder her in 2003.

"My car was shot from behind on 26 December 2003” she told the BBC.

“The bullet went through my headscarf and passed through the windscreen of the car, leaving my hair burnt.

When the drug counterfeiters heard I might be quitting the job they started popping champagne in Onitsha market, rejoicing that this wicked woman would soon quit the scene."

"But I felt if I left the job that would be victory for the drug counterfeiters," she said.


Soludo’s reforms started soon after he was appointed Governor of the Central Bank of Nigeria in May 2004, when he moved to consolidate the country’s creaking banking system. Widely recognized as being unfit to finance the country’s desired transformation into a leading economy, the banking sector was an obvious place to begin his reforms.

“Confidence in the system was very low,” Soludo recalls. “All the banks put together were smaller than the fourth-largest bank in South Africa, and none of them was in the top 1,000 banks in the world.1 If any private sector entity needed a loan of US$500m, it had to syndicate it from all the banks put together – or go abroad.”

In fact, Nigeria’s total banking sector assets amounted to less than 20% of GDP at the time, and bank loans were about 4% of the country’s GDP. “Talk about a private sector-led economy was simply a slogan, as there was no financial system to power that,” says Soludo. “We came to the conclusion that the system needed to be brought down and recreated from scratch.”

Creative destruction

The result was a huge practical exercise in creative destruction. On 6 July 2004, barely a month after he had assumed office, Soludo announced a 13-point agenda to commence the banking revolution. The agenda included raising banks’ total capitalization from about $15m to $200m. This was to be completed within 18 months for both foreign and domestic banks in Nigeria. The plan was ultimately to unlock huge deposits trapped in insolvent banks.

The reforms targeted 89 fragile, largely family-owned banks, of which 16 were in a precarious state. The consolidation of the banks through a process of mergers and acquisitions involved risk management and risk-based supervision, as well as new corporate governance standards, and featured zero tolerance for any violations of the process.

“Nigeria had never experienced a policy revolution of that magnitude,” says Soludo. “There was uproar, and the opposition by vested interests was gargantuan. Even an arm of the national Parliament, the Senate, passed two laws to scuttle the consolidation, and I received 21 written threats to my life and the lives of my family.

“You can imagine the political pressures,” he continues. “Banks are not owned by the poor people in the street. Their owners are some of the most politically connected and powerful people in society. Some of my close friends also had significant stakes in the banks. The pressures were immense and intense, but we had a job to do.” In a country such as Nigeria, this commitment to seeing the job through required extraordinary courage.

No Individual from any tribe in the History of Nigeria who have done such remarkable economic transformation with little power as minister, Director and CBN governor. This show that if actually Igbo man or woman is given a chance to be president Nigeria will see alot of transformation.

Akiara:
UK LEFT THEIR SHORE AND CONQURED LIKE 60% OF THE WORLD...THEY LEFT THEIR COMFORT ZONES!!...THEY ARE LIGHT YEARS AHEAD

JAPAN LEFT THEIR ZONES...EVEN FOUGHT A WAR......THEY ARE LIGHT YEARS AHEAD OF YOUR SHITHOLE!!

USA/GERMANY........ALL BECAME WORLD POWERS BECAUSE THEY MIGRATED /CONQURED AND DEVELOPED THEIR ZONES..

YOU STAY IN OGBOMOSHO AND SEE THE WORLD FROM INSIDE THE BOX...LEAVE YOUR ZONE AND EXPLORE OTHER CULTURES AS PEOPLE WITH ASPIRATIONS DO...AND STOP BEING TAILOR GUIDED BY YOUR EGBONS THAT WILL NEVER WANT YOU TO SURPASS DEM.

LEAVE YOU COMFORT ZONE AND EXPLORE OTHER CULTURES

It's called colonialism, Igbos are second colonial master Nigeria have just like South African whites.

Enugu has been a peaceful state not today.

luvmijeje:
They sell lands to all tribes. I personally don't mind the Kings selling lands to them for ranching. At that point the relationship is beneficial. Most butchers in the Southwest are Yorubas. A lot of people relies on these cows as a source of livelihood.

But when you have herders who believe they are above the laws and they can do and undo then that relationship has become parasitic. It needs to be reset.

There are two types of herders in Nigeria criminal elements that goes about with AK47 living in the bush and peaceful herders who goes by stick. The criminal elements should be fished out from the bush.

tamdun:
We know what u Igbos are doing and pray God answered your prayers, when hausa people start their own in North, we all know ur people won't be....

#ENDSARS never end now is occupytollgate, before now is Igbos. Yoruba runo, model for looting properties main for Igbos fight your fight and leave Igbos out of it. .

luvmijeje:
Stop giving us foolish advice. Where were you when the Kings and Citizens were crying out for the protection of the security personnel?

which Kings the one that sold your land to Fulani ?

luvmijeje:
You have not seen anything yet. It will get to a stage, it will be Northerners identifying the criminals among themselves.

What utter rubbish! The herders needs their mind to be quickly disabuse that they are above the laws.

Yes, Nigeria is one but there are people who are indigenous to every part of this country and their rules and laws needs to be respected.

Go to the Forests to attack criminal herdsmen not legitimate citizen like you.

Coldie:
Here is a video of cars and buses being stopped and the passengers asked to identify themselves.

If u are hausa u are gone

https://www.instagram.com/p/CLPAcpTlYK-/?igshid=1jetpzsuldkzbt

They almost attacked the yoruba girl on the back seat cause she was putting on hijab

Is this not a town but somebody said they are not attacking people living in the town. South West have created more jobless youths that cease every opportunity to be a looters that is why the only job they know is being in internet looking for who to scam.

Focktot:
So the Seriki Fulani that was accused of various crime is honest according to ipob

Obviously all those whose settlement were destroyed last week in the East by ESN are also honest business men.

Sarki Fulani have being living in that village for years, build a befitting house and the land legitimately bought from your almighty Oba, his means of livelihoods are aware for your people for long before now. Do you have any proved that he is the same criminal attacking your people in the farm because if he is certainly like Sarki Wakili that dares Sunday Igboho I'm sure by now every one would have know it. Blame your Oba that give a criminal land to build house in the town.

Brimstone77:
I'm telling you my brother....I felt heart broken seeing those innocent hausas running for their life....they have lost their means of lively hood in the process of these unwarranted agression from some Yoruba hoodlums who are taking advantage of this to loot and destroy people's properties...

Looting should be second name of that part of country. Why I'm concerned is that those Hausa Fulani don't know the meaning of Yoruba and Igbos.

Focktot:
So have ever seen a hausa settlements in town burnt down by Yoruba youth before?

We have Ibadan main town, Akure, Osogbo, Lagos and Ado Ekiti.

Mention one of cities or towns where Yoruba burnt down Hausa settlements (Sabo) in those places.

It seems your brain is working in reverse order.

Stop talking shit whether in the town or villages as long as the are doing legitimate things but don't live in a forest terrorising innocent villagers you have no right to burnt there properties they are legitimately buy from your Oba.

Focktot:
So how Many cattle rearing Fulani live in town.

Or the one burnt by ESN in Eboyi and Imo where they in the forest?

Have you ever see in a picture or video where ESN go to town and burnt Fulani properties if not those huts build in people farmland?

Juliusmalema:
There is nothing to emulate in ESN.

The whole of Enugu north are occupied by both foreign and Indigenous Fulanis.

What is another definition of Market?

Thank you and like I said don't attack legitimate Fulani herdsmen living in the town. If Fulani herdsmen are legitimately living with there host without a problem why attacking them, ESN was established to go to forest and flush out Fulani terrorist not the one living in the town by the way they are Nigerian.

Focktot:
Slow ipob miscreant

Akinyele is not a town, it is consist of small Settlements and large forest.

Gangan is even smaller.

If Yorubas want to go after city Hausas, they will go to Sabo which is often located in the middle of the town.

The picture of the burnt property or market said Ibadan not a farm or forests. The House of Sariki Fulani burnt are not in the Forests either.

freetheking:
First and foremost I thank the ESN for doing what is right. And let me also tell you that every fulani man is a murderer no matter where he is, it's in there blood. 99.9% of those you see in the turn are Awusa people not fulanis

If 99.9% are Hausa why attacking them, if two Nigeria have problem the law enforcement should made to handle it not using it to create ethnic tension in the land we all know that hoodlums cease the opportunity for looting people property. We all known that too much hoodlums are in that part of country.

Brimstone77:
As we speak yorubas are attacking and burning down hausa settlements in ibadan,hausas are running for their life,I just watched the video on Facebook right now....this is very bad,yorubas should stop attacking law abiding hausa citizens in ibadan,in Nigeria every indegen have the right to live and do business in any part of the country......yorubas should let peace reign...

Thank you my dear friend. What I'm saying is that they should stop attacking innocent one living in the town.

Focktot:
How many of those attacked in Yoruba land are living in towns?

Is igangan a town? or Akinyele that is rural area in Ibadan also a town?

ipob sha

Google the meaning of town and stop defending faliure or cowardice. Fulani terrorist are in the Forests attacking Yoruba farmers instead of mobilising men to forest they move to market and town attacking legitimate one, it does not make sense my dear.

ESN is doing great job and should be emulate by South West instead of creating hoodlums who cease the opportunity to loot innocent citizen doing there legitimate business they should move to forest and farms to attack criminal herdsmen not in the town.

Is obvious Igbos are peace loving and hardworking people.

Please my dear brothers from South West try to emulate ESN that goes to forest and farms to attack criminal not in the town or market disturbing peace loving citizen. Go to there hideout in the Forests and chase them away instead of creating hoodlums who cease the opportunity to loot the properties of innocent traders in the markets. Please I beg una Fulani crimal herdsmen don't operate inside town or market.