₦airaland Forum

SEFAGO:
@ Ekt_bear

I found her though actually I had stumbled across her profile a long time before while doing some web surfing so did not take me too long to pull her up. Yeah she definitely seems cool.

Link me up, I am looking for a chick like that ooh  

I am handsome, well educated and a christian. Dont smoke, dont drink, dont chase after women randomly.

@ ZnO/MekusMonkey/NcharaMoron

Ekt_bear is telling the truth. She is definitely going places and definitely has achieved more than even Okonjo so relax.

adconline:
I doubt the rate at which PhDs get tenure track positions is 50%
b) She didn't get a job "somewhere", but at a very famous school ranked pretty high on the list in her field.

Tenure track position as an assistant prof  does not match an MD position of a bank .

Tenure track means the said person is on probationary status for  a period of time. Simply put, the person is learning on the job, so she cannot be allowed to manage a dept let alone a bank not to talk of WB.

Look at the the job functions and pay packages. A tenured prof who gets to teach Keynesian and Classical theories  to students is not in the same league wish someone who wields so much power; controls and manages billions of dollars in assets in the global financial community.

Most tenured profs in Ivy league would love to be a WB MD, but most MDs in WB would not  like to be tenured profs. Go and ask Irish, Greek, and Spaniards how much influence these Bretton Woods institutions have.

nagoma:
The Vatican press published an article extolling the merits and successes of Islamic banking two weeks ago. Poor Vatican! It does not know that Nigerians could be more Catholic than the Pope.:

oyb:
lucky u weren't a choirboy in ireland

ZnO:
What is her name? We cannot compare Ngozi with an unknown name. Abi she no get name?

ZnO:
I'll have you also know that she is also the president (or so) of African University of Science and Technology (Nelson Mandela University) in Abuja, catering to the West and Central African sub-regions. Look it up to see the quality of Faculty of that University.

adconline:
By Ngozis, you mean economists with PhDs from top schools? I actually met one in February. A young woman who will be taking up a faculty position at a pretty famous school in the US. I guess she is actually a bit better, since she was good enough to get this tenure-track faculty position. Something to my knowledge Ngozi did not do

Not economists with PhDs, but with her track record. A tenured faculty position does not translate to real world working experience.

ZnO:
Almost every other person with a Ph.D. gets a tenure track position somewhere;

but few work in WB and become an MD.

If Ngozi felt like being a prof at Harvard, she will be.

Not everyone wants to be, get that?

BTW, what is the name of the one you met? Let's vet her credentials vis-a-vis Ngozi or Oby or Arunmah.

. Ngozi Okonjo-Iweala was educated at Harvard University, graduating magna cumlaude with an A.B. in 1977, and earned her Ph.D. in regional economics and development from the Massachusetts Institute of Technology (MIT).

adconline:


But i have not seen where you are charged for depositing money

JP Morgan Chase Bank  does charge a fee if you cross their cash limit.

Gbawe:
I don't have official statistics but I think it is likely to be around 8% or much less . Remember we are talking ordinary individuals here (the operative word) and not those using their personal account as a business account.  It becomes immediately obvious that a beneficial streamlining spin-off to be gained here is that some traders will now have to automatically upgrade to business accounts instead of conducting trade with their personal account. I don't get where you are going with your concern about deposit limit. No one has said you cannot pay in cheques over the N150,000 limit. Have they also banned electronic transfer of over N150, 000 to your account or have they stopped others directly transferring funds from their account to yours instead of them going to the bank, withdrawing the cash, passing it on to you and then you have to go and pay it into your own bank?

We are not under any obligation to copy what obtains elsewhere fastidiously . We must do what is 'tailor-made' to work best for us given our peculiarity that sets us apart from others in respect to where we need to go .

There is nothing wrong with the notion that a punitive 'admin fee' be applied if you wish to deposit over a certain amount in cash considering you have failed to avail yourself of the many other 'cashless' options of depositing money into your account that makes life more convenient for everyone.

The intangible we are dealing with here is the notion that whoever wants to pay you an amount that is over N150, 000 should preferably do so via other methods that reduce paperwork, time, cost and the use of cash. As far as I know , if over N150,000 is paid into your account , using methods other than cash, then there is no problem. What is the point in investing in technology if we will not insist our people use it in our quest to catch up with systems we constantly praise?

It is a conceptual analogy. I.e the inference is that many policies that will bring change will automatically always be resisted by those "who are not ready". There will always be those who will clamour for gradualism and "the perfect time". Monetary fees and penalties can quickly make folks comply. The same way less folks drive through Central london, trying to avoid the congestion charge, is the same way many Nigerians , in avoiding fees, will learn to embrace other cashless methods of withdrawing and depositing money. You make it seem as if there are no choices or provisions that move bank customers away from a dependence on cash withdrawal and deposit when that is far from the truth. The under-utilization of the many other methods of withdrawing and depositing money , actually harming our drive for e-commerce and a cashless society, is the central consideration here even if that remains somewhat abstract.

What is not correct? Are you doubting  that Ghana redenominated or that Soludo did not propose the same measure? Both are correct. Do your research. As per the connection , it is explained above. Policy drive will always be resisted by those who want a gradual approach without wanting to minimally inspect what it is they are being asked to do. Folks made noise about the redenomination of Ghana's currency. Those folks are happily using the new currency today. Same with Sanusi's initiative. Once under operation, the onus will fall on Nigerians to educate themselves so that they don't become irrelevant . You will then see that all we are witnessing now is just noise and intellectual laziness.

If they say individuals should not pay in or withdraw over a certain amount in cash have they also blocked other cashless means of transaction that allow you to do the same thing? Enshrining an attitude of electronic transaction awareness must begin now if it to become a staple in our Nation to the point where we begin to derive the real benefits of e-commerce et al , locally and internationally, in the near future . Lag behind too much and run the risk of harmfully falling behind everyone .

emmatok:
I initialy thought Sanusi won an award until i saw he just delivered a speech.

Now those who supported his Sharia policies on NL won't let us rest.

brainpulse:
Christian had never used force on anything so history tested and confirmed instead through patience and persistence in the doctrine of peace and love people embrace it.

maclatunji:
The total value of what your local groundnut seller has for sale is probably not worth N5,000 for the tomato seller probably not up to N10,000- so that's how your point goes into the thrash bin. Try harder!

maclatunji:
The idea is to collect your N1,000 electronically and transfer same electronically to your bank account. Big corporations are already making moves to take advantage of the policy, whilst the hoi poloi do what they do best- scream without reason.

seanet02:
But i have not seen where you are charged for depositing money o.

From June 2012, individuals that make [size=18pt]cash withdrawal or deposit[/size] above N150,000 would pay a fine of N100 per extra N1,000, while corporate organisations that make cash withdrawal or deposit above N1 million would pay fine of N200 per extra N1,000.

texazzpete:
Okonjo-Iweala did not 'allude to' anything. All she mentioned was the need to be careful in its implementation, how is that a condemnation of his methods?

As Sanusi has already said before, the 150k is not yet an agreed upon sum, its merely his first proposal. the exact penalty free limit will be decided, along with other modalities.

As with every major change, there are risks involved. But if we can save a large portion of that N200 billion spent annually on minting and destroying naira notes, we're making progress.

Former Minister of finance Dr Ngozi Okonjo-Iwala yesterday disagreed with the governor of the Central Bank of Nigeria (CBN) Mallam Lamido Sanusi over the proposed N150, 000 withdrawal limits for depositors even she opened up on why she quit the administration of former president Olusegun Obasanjo.

But Okonjo-Iwala at the senate yesterday said: " I would also be a little careful because it might have the opposite effect if you implement a minimum or a maximum withdraw, people will decide to keep money in their mattresses and not put them in the bank because they will think they will not be able to withdraw them. We have to go about it carefully, I like the objective as they said of moving towards a cashless society, but I think we should implement it with deliberation.

Gbawe:
Only 8% of Nigerians who use banks withdraw more than N150,000 daily and even then they are still provided with the option of paying a fee to withdraw more  than N150,000 if they wish .

Pray tell us what is wrong with this approach when even in the most advanced societies fees and fines are used to subtly cajole the populace towards a policy drive they would naturally resist?

Ask any Briton about the congestion charge that was used to decongest the horrendous traffic that used to bring central London to a halt.

Did Ghana not redinominate her currency successfully circa 2007? When Soludo wanted to do same in Nigeria many screamed that we "were not ready", "Market women will be confused" and all manners of redundant excuses pandering to nothing but gradualism for a nation that needs to develop fast. Ghanaians have forgotten that they even redinominated while we contine to pontificate !!

As for Okonjo Iweala's , while I rate her , I don't fall into the category of those who deify everything that comes out of her mouth as if it is gospel truth. What she said at her senatorial screening may have impressed some but she has essentially not said anything revolutionary , particular brilliant or innovative. There is nothing she mentioned we have not dealt with at lenght , and in far greater detail, here on NL. I will therefore inspect her utterances for logic and feasibility rather than hold it as some gold standard to use in judging other.

ZnO:
Where are the Ngozi's of the SW?
Show me one and I will climb the moon.

ZnO:
Ekiti kete
These must be the youths who reportedly went mad with smoking marijuana
I hope Ekt Bear and Ileke Idi were not among the hurt?