₦airaland Forum

The lesson I am taking away from this Bankole case is simply to remain unshakable when it comes to doing the right thing at work no matter how uncomfortable it may be. I have been able to establish a few "ground rules" for myself at work to protect myself against "corruption". By the grace of God, I cannot be caught in such a situation. I rather resign than be engaged in any corrupt or dishonorable act. God help us.

This must be really difficult for his family. What a shame. I only hope he is given fair trial and sentenced accordingly if found guilty.

^ Check it out yourself. I am not making it up.

Start from here:

The limits

“Commencing from June 1, 2012, a daily cumulative limit of N150,000 and N1,000,000 on free cash withdrawals and lodgments by individual and corporate customers respectively with Deposit Money Banks (DMBs) shall be imposed. To this end, individuals and corporate organisations that make cash transactions above the limits will be charged a penal fee of N100/thousand and N200/thousand respectively for amounts above the cumulative limits.

https://www.nairaland.com/nigeria/topic-656549.0.html

Deposits equally attract the same penalty!

aribisala0:
ultimately bank notes like VHS is a technology that will become obsolete. these things happen naturally. who buys vinyl records these days?  

my uncle JOE

My brother, in the same vein,

[list]
[li]How many people use Nitel lines today? How much penalty was imposed to FORCE people to move over to MTN and GLO?[/li]
[li]How many people still use Black and White TV today? How much penalty was imposed to FORCE people to move over to flat screen and plasma TVs?[/li]
[/list]

People will naturally move to better options when they are provided. The man should do his job and stop being lazy.

Imagine an average size retail business that make sales of over N1,000,000 per day. The policy will make them pay "tax" on their working capital! Is that not madness? How on earth can these businesses force consumers to pay N50 or N1000 with cards? Even if the options are there, several small purchases will still amount to figures over N1,000,000 per day.What about the man that is building a house and paying laborers. How is he expected to pay the carpenter and bricklayer with a card? The most annoying aspect is that the penalty also applies to DEPOSITS!!! Damn, that is the height of madness. It means it has almost become a "crime" to make more than N150,000 in one day. 

aribisala0:
in the the so called advanced world people use cash less not because of rules,policies or laws but because there are real alternatives that work.

You got it right.

That is the right strategy for a sustainable approach. Sanusi is only looking for a quick fix which will benefit CBN any way it goes. He knows many people may still not go with e-payment and has therefore planned to transfer the cost to them (even if there is no infrastructure). Either way, CBN profits from the plan. He is just being too lazy to go through the development of a reliable system.

OBJ. Many reasons but majorly for handing over to civilian rule.

@Fiver, I agree we do not need to wait for it to be 100% secure before using e-payment but we need to make OUR own systems (in Nigeria) as secure as possible before forcing Nigerians into it. I currently make most of my transactions online but it is best as an option until we are able to manage the threats. We do not want to wake up one morning to find out that 90% of our nation's money has ended up in China! As I said earlier, that is another subject. Sanusi's motive is not even getting everyone to embrace e-payment but to reduce the cost of managing cash.

Are we really ready for this? Recently Sony, Google, CityBank and IMF (yes IMF!!!) were hit by cyber hackers! Can Sanusi really assure us of the security of our systems? Anyway, that is another subject.

As Seun rightly said, the main reason behind the policy is the cost of managing cash and not even e-banking. Sanusi has got it all wrong simply because he does not want to do what Soludo did or tried to do I.e (The coin, N1,000 note and removing the 2 zeros options). He also does not want to take a more sustainable but difficult option of gradual development. He wants a military style implementation that will profit CBN even if Nigerians refuse to change.

We have already dealt with this subject extensively in other threads but I think the summary was to make the e-payment options more attractive and secure while allowing those who want to continue with cash to do so. We also said the necessary infrastructure has to be in place for an aggressive implementation to be effective.

I can't believe some of us are so crude! How can we take this joke as an insult? Some of us would have replied Bill Clinton with a slap abi? Or frowned and cursed him! I guess a lot of us do not know anything about the Americans. No wonder we have so much hate within us leaving no room for humor.

Good thing you saw it too. People keep breaking their heads over headlines without reading the body.

Akainzo:
Maybe you would benefit by understanding statistics. A figure of 25% -50% as you alluded to is not termed "hovering around", hovering around is a term for +/-10% maximum, and that would still give you 39% max.

@ Akainzo, If you read my post properly, I used the words "It could have ranged from . . .". That means I am using arbitrary figures to drive home a point. Then again, you left the substance of my post and went after the chaff. Anyway, I am not here to debate statistics neither am I here to struggle about English Language or Mathematics. What Jega meant by "hover around" is subject to further debate. Funny enough, you made the same point some of us are trying to point out here:

Akainzo:
That Jega is a Prof implies that he must understand what he is saying and therefore we need not try to give it another meaning.

For clarity, my point is we do not have to call the man dumb before we understand how he arrived at 35%. We should seek to understand and make sensible comments on whatever we want to. Everybody is free to fault the turnout of the presidential election based on the finding but dismissing the 35% mentioned by Jega without seeking to understand is myopic.

Since the world is moving away from death penalty, we can explore other options. For example, criminals can be made to pay every kobo stolen, ALL their personal assets seized by government and then sentence them to life imprisonment. But again, the case needs to be proven beyond reasonable doubt.

Jega said,

“That there exists voter apathy in Nigeria is no longer contentious. Voter turnout in the just concluded general elections had provided a scientific and empirical evidence of the existence of voter apathy and disinterestedness of sections of the electorate in elections.

“The National Assembly elections, the presidential election, the gubernatorial and state assembly elections conducted in April showed that voters’ turnout hovered around 35 per cent. This ugly scenario has implications for popular participation and governance.”

We should learn to analyze the issue in the proper context. The figure could be the mean, median or mode of all the elections conducted. Also take note of the words "hovered around". It could have ranged from 25% to over 50% in the various elections. If the press needed more detail, they could have as well gone to INEC to ask for it.

The truth is we just like to make an issue out of the unimportant things. The big issue in the story is the Voter Apathy but we have chosen to focus on how dumb we think Jega is. I have often asked and I ask again: Who is actually dumb?

jmaine:
Some people are casting wrong aspersion on the 35% by linking those indices only to the presidential election . . .What the INEC information did not reveal clearly is whether the 35 % was the average turn over rate for all the conducted election polls or was per senate/house of rep , Presidential and Gubernatorial poll respectively. . and until the true positions are specified , then all those ranting foul play are misguided . .You feel INEC did not factor in all polled results to come to this conclusion . .  It's JEGA for God's sake and a professor at that . .  

Exactly. People just jump on a subject to comment without thinking deeply.

I always try to understand a subject before commenting or passing a judgment. The statement says "hovered around 35%". Meaning 35% plus / minus. Also, it may have considered the three elections and not just the presidential elections. Note also that governorship elections were not conducted in several states. Put these factors together and you may come up with an average figure close to 35%. I would like to get an explanation from INEC before concluding.

Smiling is not a crime. We need to stop making an issue of his countenance. Bankole has a "smiley" face. If he is found guilty, let him face the music. If he is innocent, he will be freed.

Meanwhile, I support the death sentence for corruption but it has to be "PROVEN BEYOND REASONABLE DOUBT". This is because we do not want it to become another method of political "assassination".

Banky is a natural "smiler". He has always been like that. Even when he is under pressure, he keeps smiling. Smiles can be quite infectious. It doesn't mean he is making a deal with them or laughing at Nigerians. We should know this about him by now.

Pride goes before a fall. Tinubu needs to be careful and learn some wisdom from the elders. If his successes get to his head, the Yorubas will not hesitate to put him in his place. As they say, "Na small shyt dey spoil yansh"!

I personally like Bankole because of the way he speaks and smiles! Unfortunately, I do not know much about his principles and his integrity. As for the case, if he is guilty of stealing a kobo, he should be made to pay for it. If he is completely innocent, he has my support. Whether or not it is because he stepped on toes, justice MUST be served. Justice is justice no matter the path you take to reach it. The important thing is that judgment is fair.

Meanwhile GEJ has congratulated Tambuwal on his facebook page. So, who is deceiving who?

I believe in the doctrine of Separation of Powers and I salute the Senate and the House for electing their leaders in a transparent process. I congratulate the Senate President, Senator David Alechenu Bonaventure Mark and the Speaker of the House, Hon. Aminu Waziri Tambuwal. Again, it is only by ensuring transparency in all governmental processes that we will first put in and then get the best out of Nigeria. GEJ

http://www.facebook.com/jonathangoodluck/posts/191920314191684

I hate tribalism with a passion.

[quote author=phuck_NL link=topic=685188.msg8477413#msg8477413 date=1307521257]Why cant people just switch to gas.[/quote]Because lots of people are penny wise and pound foolish. They are also resistant to change and never willing to try something new.

Grand Deception of the highest order.

ACN was simply used as a tool to achieve pre-election deals struck between GEJ and the NW. The PDP kingmakers had already decided this matter long ago. What better way to hand it to NW, than by the hands of the powers of the SW (to whom it was zoned)? ACN simply played the devil's advocate. How can anyone fall for this obvious prank?

"National Interest" is just a cover for NW compensation. I believe now more than ever that OBJ and Tinubu are best of friends in secret. They only appear to be enemies in the news. These boys are playing the music we like to hear when the real deal is going on behind the scenes. Talk of national deception. SMH!

I am ready to die for Nigeria - OBJ.

All that has been happening is not mere coincidence. You can not tell exactly what he is doing in secret. Don't be decieved by what you hear in the news. OBJ is an extremely cunning politician. I say, let's keep watching and see what he will do next.

Another one to be added

President Goodluck Jonathan has signed two bills - the Terrorism (Prevention) and the Money Laundering (Prohibition) bills 2011 - into law.


A statement by Justin Abuah, the deputy director of Information in the Office of the Special Adviser to the President (Media & Publicity), said the bills were signed on Friday.

The statement said the two bills were "passed by the 6th National Assembly and conveyed to the president for his assent on June 2 while he signed them on June 3".

"The new Terrorism (Prevention) Act, 2011 prescribes measures for the prevention, prohibition and combating of acts of terrorism and the financing of terrorism in Nigeria," Mr Abuah said. "It also provides for the effective implementation of the Convention on the Prevention and Combating of Terrorism as well as the Convention on the Suppression of the Financing of Terrorism, and prescribes penalties for the violation of its provisions. The Money Laundering (Prohibition) Act, 2011 repeals the Money Laundering Act, 2004 and makes comprehensive provisions to prohibit the financing of terrorism, and the laundering of the proceeds of crime or illegal acts."

The bills also expand the scope of supervisory and regulatory authorities to address the challenges faced in the implementation of the anti-money laundering regime in Nigeria.

http://234next.com/csp/cms/sites/Next/News/5711334-147/story.csp

@ Juman, on the contrary, PDP just got stronger. I pity the opposition because with this, PDP will regain its lost foothold in the north.

Great move. Nigeria is moving forward.

But, see how quickly some of us are trying to create a negative out of a positive situation. Is it not good for Nigeria that he signed it? Should he have refused to sign simply because he didn't want people to think he is Obama's puppet? Signing the bill into law will go a long way in fighting  terrorism and corruption in Nigeria as we currently face. Are we no longer interested in our security and the fight against corruption? I fear who no fear una!

bamosagie:
hmm, uncle Jona is scheming, hope this is not what i think it is.

Tell us what you think. You may be right. Lots of people here are just carried away by the outcome without thinking deeply about the whole thing.

I like the way many of us sound on this thread but I must confess that we may be moving faster than Nigeria (in our minds). If only we knew what was really happening at the center we would be singing a different song. The simple truth is that PDP has become stronger yet again. Opposition will have a hard time fighting PDP in 2015. Some of you have been seriously against PDP but here you are dancing to their music happily. Wake up, you fell for it!!!

[quote author=EzeUche! link=topic=684190.msg8467633#msg8467633 date=1307390640]Zoning is now officially dead. In addition, these House elections now show how an ambition politicians can gain power, even without the president's blessing. Aminu Tambuwal seems to be a very cunning politician from Sokoto. The North really made Goodluck and Obasanjo look foolish.[/quote]Ezeuche, You seem to have taken the bait already. Do you honestly believe these politicians did not plan for this? Dont you think this is the price GEJ and OBJ paid for the presidency? PDP is bigger than all those children you see making noise on TV. This is not the first time they say something in the press one day and the next day, a different person emerges altogether.

Summary: OBJ sacrificed his zone (SW) to ensure GEJ stays in office.

Remember this: I'm ready to die for Nigeria - OBJ

These things were decided long ago. Same way Yaradua became president "in the last minute".