₦airaland Forum

sainty2k3:
a good one, must be constructive not abusive ,fair and not bias. that shows criticism from a growing person

Abusive, constructive, destructive, whatever.. Doesn't matter, get everything said, pick the 'sense' and ignore the 'non' in it

sainty2k3:
I guess the first statement is for u

Learn to accept criticism, its the first step in growing up.

sainty2k3:
it started counting 29th may . so wait calmly or join the wailers if u like. it's not going to be magic , pmb will work things out

There got to be a time when you keep quiet when you have nothing to say.

Let's pray for the best for our leaders and country and encourage others to not castigate them.. Its 6month, nothing meaningful yet.

sainty2k3:
thank God u admit GEJ was wasteful. u are a big joke if u think it the wasteful spending of ur master's 6years misrule will be corrected in 6month.

This is 2015, wake up from 2003. I guess PMB need 6years to correct GEJs misrule using your analysis.. So when will the 6years start counting?

This government is certainly re.tar.ded.. Making life terribly difficult for the masses and they don't care.


No matter how useless the previous government was, they'll hear the cries and do something... This one don't give a damn.. No statement, nothing

Hajiya and Alhajas, only Kemi without such title.

tolaolu:
Sir,
If you feel you are been cheated by the charges please Mail CBN customer service.

As regards the currency devaluation. Those advocating for devaluation like our friends at JP Morgan fail to tell you the negative side of it especially during a period of falling income is purchasing power reduces. So unless your income increases devaluation would only make you poorer.
Please look up on the recent joint press release by CBN,DMO and FMF.

Let's act with the national interest at heart and discourage impunity.

I see your patriotic act, just do whatever you with realitybin view

tolaolu:
I would appreciate if you throw more light on the below points you raised
1.increased COT- if you really follow the economy and the financial sector you'll be aware that no bank can charge above N1 per mil and this charge would be be gone by next year
2. The economy would suffer- are you saying that by punishing impunity the economy would suffer. Isn't impunity why the economy is suffering.

It is important to note CBN isn't the cause of our current economic issues the cause is low oil price.

Sure, oil price is responsible for the economic issues, cbank devaluation of the currency, remember forex limitations that force business men into coma-aint that starving the economy??

Abt COT, yeah COT remain constant, u remember the other charges? The banks ain't stupid, for instance when you attempt to buy tbills, u know the number of charges attached? All they do is generate some hidden charges, they wouldn't call it COT. UBA and access for instance are good in that

irondome:
Honestly, give it up already. Let me point some things out to you.

1. Irrespective of when and how TSA is implemented; banks are bound to struggle a little bit as most of them rely substantially of these free funds. So why postpone the evil days while the FG continue to struggle financially when it has (unknown) trillions of Naira lying in various bank account. That amounts to LOSE & LOSE situation.
2. Cleaning up the mess in CBN is not an snap of finger act, but a lengthy and continuous process that would take time; as such, putting off a routine regulatory oversight function for such a continuous process sounds absurd and illogical.
3. You mentioned other defaulters; if you know of any, you can do the whole nation the honor of listing their names.

And for the records, I totally agree with your opinion that these funds uncovered are not exhaustive, but the few unlucky ones. We do not even know if there are still some funds lying in ALL the banks, which is where heavy fines come in. In fact, if I were the CBN Governor, I would subsequently order a fresh round of investigation and you won't be surprised to see them owning up to other uncovered MDA funds.

1. Mopping those trillions will save the economy??
2. If cleaning up the mess in CBN will take time why do u want to clean the commercial banks at the snap of the finger
3. Ever heard of NDA?

Ok, I give up already, go argue with someone else

irondome:
I don't joke with my post. Send your concerns to the senator in your own zone and follow them up. Before then, you can allow CBN do its work without castigation.

I see! BTW, who's preventing the CBN from doing her job?

ok, you've been noticed.. Thanks

mbulela:
There is an inherent daftness in your post.
So we should just allow organizations to flout laid down rules and regulations?
Do you understand that this act of undeclaring funds is fraud in its true sense?
What has that got to do with diversifying the economy?
So because they will increase arbitrarily COT (which is not possible as charges are regulated), they should be allowed to fraudulently hide funds?
Do you see the illogical premise of your argument?

I do get your point, but like I told you earlier "abnormal" is the new "normal" here on Nigeria.. So screw it, I support the other guys choice of words, eventhough he went too far. Not that they were right but that's the norm here.


Nigerian banks hide a lot. For instance, You think the list of debtors published was correct? U know what it took to maneuver that? U think only First bank, UBA and Skye have hidden MDA funds? They were unlucky coz they got caught. The entire industry is messed up. The TSA will cause hardship for the low level bank staff and the economy at large. The 'ogas at the top' have stolen enough and they won't even get touched.


Your next point will be should we do nothing because of the inherent fraud? Actually, clean up of the sector should preceded funds mop off as the clean up will unveil several abnormally that will even increase funds to be mopped.

mbulela:
Was I talking to you bro?

Is this a rhetorical question? This is a forum not your WhatsApp group.

Nevertheless, let's talk about your points.
Should we find a saint before we start adhering to simple rules? NO but let's make it a level playing ground, let's punish all offenders. Are we doing that? NO. There are some sacred cows.. (Won't share details).
If you won't share details, then I can't discuss the point with you. As far as it is known in the public domain, everyone found hiding funds against TSA has being punished and the punishment has been uniform. If 1st bank and UBA can be punished I struggle to see the sacred cow in view.

The CBN has bruised several of her own orders, they've messed the sector up several times and are even responsible for several decline in the economy. Who'll punish them?? What do you know of the central bank activities, go review access and intercontinental brawl, oceanic sales, Amcon and even NIBBS activities, or check out the BVN messed up DB where ur name and face on the DB don't correlate, lest I forget the Heidal project.
You have made valid but largely irrelevant points to the issue at stake. It is like saying because the referee in a premiership match made a wrong call in the 12th minute, he has lost the right to make a right and stringent call in the 31st. None of the issues you have raised negates the enforcement of rules as it concerns TSA. It is like saying a thief should be pardoned because the whistleblower is an adulterer.

Dude, you don't know jack abt the CBN so shut up.
Stop throwing tantrums like a 6 year old (I assume you are not one). You know very little and it is obvious. I am open to learn from others but you so far you have failed to make sense.



Fine doesn't really solve problem, it create greater and smarter thieves. Find the root cause of a problem and fix it before fining. Close the loopholes.
Fine is not meant to solve a problem, it is made to deter law breakers. What root cause? you were asked to transfer money and you hid some. A fine was imposed. What else do you want CBN to do? Conduct deliverance on bank treasurers?

I really would love to debate these issues with you, but unfortunately, you don't even listen to yourself, imperatively, will be difficult for you to then see my point. You hold a premise so dear and that's what pushes you to argue. First, clear your mind.

Let me reiterate, I didn't say anything about the fine.. Check my first post. Whether the fine is right or wrong ain't mine to judge.. Apparently, there've been lots of fine lately. What I said (which you negate) was that regardless of the fact that the TSA is the right thing to be enforced, it was like punishing the banks and the banks will in-turn fire the low level staff, increased charges-COT, interest rates and all other hidden charges and the economy will suffer for it-remember ita crumbling at the moment.


I said clean up the regulatory body-CBN, clean up the excesses of the banks and then the TSA will make sense.

irondome:
All these do not negate Mbulela's points. CBN has an oversight function to enforce its regulation, which they have promptly done here; on this matter, I reckon they deserve a pat on the back and not a stick. It's rather preposterous that you are clamoring for the latter.

On who controls the regulators, I guess it's within the purview of the national assembly; you may play your part in our nascent democracy by petitioning the NASS on the issues you raised here.

Petitioning the NASS? You're joking right?

boboLIL:
Its a pity.... RIP to the dead


Meanwhile

Dude.. Rest na, ain't you old enough to do thinga right. Who gives a f*ck abt ur bday. You wanna sell the likes? You've posted this rubbish on every thread.

You added a year and more folly to your age?

mbulela:
You are not making sense.
So we should seat with hands akimbo until we find a saint before we start adhering to simple rules and regulations?
What sort of chaos are you suggesting?
The next logical question is ensuring that the fines are used judiciously. Organisations should learn to play by the rules. Caught thieves should be dealt with. No need for waiting for saints before we start punishing infractions. The existence of other thieves is no excuse for stealing.

Was I talking to you bro?

Nevertheless, let's talk about your points.
Should we find a saint before we start adhering to simple rules? NO but let's make it a level playing ground, let's punish all offenders. Are we doing that? NO. There are some sacred cows.. (Won't share details)

The CBN has bruised several of her own orders, they've messed the sector up several times and are even responsible for several decline in the economy. Who'll punish them?? What do you know of the central bank activities, go review access and intercontinental brawl, oceanic sales, Amcon and even NIBBS activities, or check out the BVN messed up DB where ur name and face on the DB don't correlate, lest I forget the Heidal project. Dude, you don't know jack abt the CBN so shut up.

Fine doesn't really solve problem, it create greater and smarter thieves. Find the root cause of a problem and fix it before fining. Close the loopholes.

doctokwus:
Rubbish. What nigerian banks have been practising forma years is not banking.
All over the World,banks make their profit by lending to various strata of businesses and getting interest payment front it.They even aggressively seek to woo people to get loans at competing interest rates for all sorts of purchases,businesses,lands,houses etc and reap from the interest payment.
Let me give an eg,with nigeria's large population,if a bank gives credit for 1million varied people that conservatively pay interest of 10,000/year,thats 10billion for credit only, by d time u add profit from other financing, u get a good idea of where d money is.
But here they want to use govt money to trade,businesses are stifled,the economy stagnates and no jobs.
Now that free govt funds are no longer there,politicians too are getting squeezed, they wud have no chive than to do real banking

In Nigeria, 'abnormal' is the new Normal. I'm sure you have no idea how much bad debts AMCON bought from the banks. Your analysis and calculation is flawed-heavily.. Before you compare the banking sector here with those you've read of, compare other factors including but not limited to government interference, lack of refund and even the harsh economic scenarios

In Nigeria everybody want the bank to give them loans and leave them alone... The few who pay back get hit with huge interest rates.

bettercreature:
So you are supporting bank fraud?

First of all, fraud is in every facet of the economy, I'm not supporting it though. But a judge need to be clean before crucifying criminals. Let him who is without ain cast the first stone.

The banks are fraudulent and so is the regulatory body.. Let the regulatory body clean herself then clean the banks... Cleaning the banks is fine if well managed and properly done

Soon they'll roll back the TSA, where's the substitute?? You wanna kill the banks because you're fighting corruption?? Give them an alternative to sustain their business.. In the long run, the low level staff get fired not the top management and the banks start crumbling again. The CBN is even more corrupt than the commercial banks, when last did CBN recruit openly? Only via kits and kin...no transparency in anything they do and you wanna clean up a corrupt banking sector.

Let the CBN clean up her corrupt mess fully and then clean up the commercial banks, then TSA will make sense. For now, the repercussion will be enormous on the economy... Time shall tell

Ambode? Oshiomole Wtf!!!!

I don't know about the rest, but I know these two guys and they sure ain't working.

But again, Oshiomole is busy quoting unnecessary figures and seeking undue attention in the press from wife to fighting perceived foes while Ambode is busy wearing Agbada and taking pictures with some nice Rolex watches.... Who knows? That could be classified as 'working'.

Soon they'll run peagent for babies... all kids are beautiful, leave it like that

ceaser:
Oh, I get it now. There is a new definition for patriotism....Erekoshe's dictionary of new definitions 2015.

I sincerely apologize for replying you, I felt you were worth analyzing realities with. You may need to emancipate yourself from mental delusions.

ceaser:
He doesn't need to be paid or jobless to exhibit patriotism and to have enthusiasm for a better Nigeria. The driving force for him are the gains of a better country and better future for his oncoming generations which to him definitely outweighs the temporal gains of being paid millions for PR. Simple.

Patriotism?? Right? You have no idea what that word means. Criticize when needed, praise when due. Not praise even when there are errors, that's sycophancy.


Buhari is doing a good job but nobody is perfect, only niggas here praise people even for their own flaws.

godox2:
He is working for NIGERIA, working for PDP or APC ended since MARCH 28th. Now let's Unite to SUPPORT or OPPOSE the govt where it perform or derail respectively.

That nigga never oppose.. He's a very loyal supporter even if his knees get broken

Enesi47:
poor man, I can tell you that most of those youths have already to successful in their life

Oyibo hard oo.

Success isn't proportional to the money you have- get that!

omenka:
The "body odour" has reached far away America. They smell it and they like it!

The most useless party in Africa and indeed the world, says Baba's utterances and strategy is "demarketing" Nigeria, meanwhile those to whom he's trying to sell his ideas think otherwise.

Only those with irreparably abused minds and perpetually sore losers would NEVER see the good intentions and deeds of this gentleman for our common good.

My faith in this man remains unwavering as he methodically performs the much needed surgical procedure on this patient that was rushed into the ER on May 29th.

Now Goats would be forced to eat grass which was what God in his infinite wisdom designed they to eat from creation. But somewhere along the line, the natural course of event was altered, the door to the barn was left wide open, and our Goats all became Ajebo Goats that fed exclusively on Yams and lost the appetite for grass, they grew so fat we started mistaking them for Buffalo.

I expect some initial resistance as they are forced out of the Barns into the fields to feed on their natural staple, but of course we know it would all be in futility- they only run the risk of starvation should they insist on Yams.

I expect the cries of secession to increase three folds with the implementation of this cost cutting policy.

The Goats behind these deals are the people sponsoring all that Biafra nonsense in the hope of distracting the government and ultimately crystalising chaos which would ensure they keep making abominable profits at the expense of the common man.

They see Baba as a threat to their control of the levers of our polity/economy and would do anything, regardless of its propriety, to ensure they perpetually lord it over us.

Toss a few change here and there they would, and the same people we saw yelling GEJ till thy Kingdom come from every rooftop and treetop they could have a foothold would be the ones shouting "Biafra", "death to the zoo"!!


May God continue to direct your hands Mr President. Slowly but surely, we are on the path towards a full recovery.

God bless Nigeria.

This is a step in the right direction.kudos Buhari.


But dude, please tell me you're working for APC. Ain't no way in the world someone will do the kind of job you do for them and barcanista for PDP, if you're not being paid or utterly jobless

PinkBarbie:
I beg you in the name of whatever you believe in. Stop quoting me!!!

A mad man is after you! Hahahahaha

tsdarkside:
oyyy...as if we didnt survive till the europeans came...how can you be soooo senseless??...

Wouldn't stoop to your level to trade insults, I'm more honourable than that

Apparently, I see you prefer the stone age- that's how wise you are.

ishaq86:
Do u expect him to lie or what? Dis are realities, d PDP have vandalise d resources of dis country, billions have beenlooted and mismanaged. 70% of total govt revenue is from oil, unfortunately d price of oil has drop to about $47 per barrel. How do u expect him to fill dis deficit, after all he met an almost empty treasury, high debt profile.. Let's try to be objective and sincere enuf in our criticism.

Nobody is saying he should lie, read Metus piece-i guess you comment from reading the topic.

How abt blaming PDP for all the woes and corruptions then explaining what he has put in place to overcome all the challenges?

babafirst:
Perfect answer,Infact if I had read your comment before making mine I would not have commented.Please read my comment,you just spoke my mind.

How about analyzing the challenges, itemizing what he has put in place to overcome them? My brother, it will do you good to think properly-outside the PDP/APC box

shamecurls:
Re these wailers aware of the fact that they will be wailing till 2023?

Intellectuals argue on topics, you insult one side of the debate, where do you belong. Bring out facts and defend them

tsdarkside:
hmm..dont you people want to get it??

we dont need foreign investors!!!...

start by buying only nigerian made products!!...invest in your own self!....

how about buying only nigerian made cars...

Maybe you can start by building your own internet. say something meaningful, inasmuch as you want to rely on what you produce, does it seem feasible on the short run? Are we working towards it, or it ought to happen like magic?