₦airaland Forum

Sagamite:
That is why I said: Feel free to throw it back.

I am very intelligent o, don't try it.

I personally believe my source because my source is DIRECT. I know the source closely and what they do in CBN and I am CLEAR there is no motive since they were making a killing from the CBN.

Don't compare that to some apocryphal and unknown source that post something on the net and I am suppose to believe it.

There are people that would buy when things are rock bottom.

These people are by no means stated as making "schoolboy errors".

I believe it is common knowledge that buying undervalued securities is a money maker.

Really?

Are you sure majority of their expenses is on infrastructure by multinationals?

I will bet it is on reccurring expenditures like salaries and contracts with local parties?

Am I wrong?

I'm not disputing your intellectual prowess although you don't need to go about telling people you're intelligent. Let people deduce that from your words and actions. Your "sources" against Soludo are no better than mine mate, if they were, Soludo would be in court now. So it remains subjective- let's leave that.

Buying undervalued securities is a money-maker if you're buying strategically, so know when you're getting in, when you're getting out etc. Euro countries are loosing their AAA ratings left and right, the Euro crisis might possibly end up in a break-up of the Euro zone which would devastating to those bonds. There were much better options, and they did the right thing in the end by investing in the Chinese.

On the capital vs. recurrent expenditure- take a snapshot of Lagos' 2012 budget (a microcosm of Nigeria), and the capital indeed exceeds the recurrent budget. Even if it didn't, we are net importers, most local contractors import their goods, most states have  foreign debts- dollar certificates would resolve these issues and stem inflation, interest rates and reduce the burden on the populace.

I'm not against SLS cause of any ethnocentric B.S, I'm the same person that'll tell you Aganga made a mess of his job as Finance Minister. Again, I'm not saying I can do better than him but calling him the "most intelligent" Nigerian is just far-fetched.

Sagamite:
That is injustice. Injustice is never a good idea.

If you want to sallah or allahu akbar your money, that is your business, not mine. It does not disturb me and I should have no right to stop it.

My understanding of free markets is securities can go up or down. Hindsight is not really an asset widely available in free markets.

So because the value was down you think it should not be bought? So what if after it was bought it shot up in value, what would you say?

How is that a schoolboy error?

Will the state governments not convert to Naira themselves when they get it?

Is combined gross conversion not more profitable than individual smaller scale state conversion?

Sorry, mate. I make nothing of unreliable, apocryphal rumours.

Worse still coming from an unknown source where the author is nameless.

Feel free to throw it back.

We had a group like this that have been attacking him from the word Go.

Well, I never said it was true,  same way an confirmed rumor from a nameless "sagamite" about Soludo's deals remain speculative at best.

"If" it shot up?? I'm not an economist but I would not for my life buy U.S or Euro bonds right now simply because there's a lot of uncertainty around those zones, that's common knowledge.

State governments don't have to convert it, they could pay for their infrastructural development in these dollar certs since most of the companies executing the projects are multinationals, it's been done before. So no, again don't need to be a genius.

Allow Islamic banking, like I said it's been shelved for now-  and that says a lot.

Sagamite:
And so?

What has Islamic banking got to do with your life?

Why should he pander to the lunacy, illiteracy and ignorance of others over a very simple issue?

You think the avenue to bank in a way acceptable to the 50m+ Muslims of Nigeria's religious belief is not a pressing issue?

Explain to me the scenario and aims of the idea?

Then provide me with the options.

Who determines if money is to be disbursed to tiers of Government? The CBN governor?

Do you have any reports of SLS criminality?

1.  I don't think it was a pressing issue, and obviously the government didn't think it was or still is, which is why it's been shelved albeit temporarily. Right idea, wrong timing.

2.  You go into the Euro, buy 1/2 a billion dollars in Euro at time when the value of the Euro is going south. Options? Brazil, China (which they bought later on), Japan etc. The interest rates on these bonds alone can be better spent, ask Cote D'voire that had to renege on bond agreeements due to high interest rates.

3.  He doesn't determing if the money is to be disbursed to tiers of government but he determines how. Disburse it in dollar certs like we did until Yaradua came along, not changing into Naira and inflating the economy.

4. http://thestreetjournal.org/2011/10/face-of-a-fraud-how-cbn-governor-sanusi-lamido-sold-intercontinental-bank-to-his-friends/. You make what you want of it mate.

Please don't get me wrong, I give him a lot of credit for what he's done, he's dealt with some serious issue head-on, won various awards etc. I'm just not standing in awe of him as "the most intelligent" Nigerian alive.

Sagamite:
Soludo is a criminal. I know that personally.

Explain the schoolboy errors.

Making a case for Islamic banking during a very volatile period, surely there are more pressing issues. Secondly and even more importantly, going into the European market at an uncertain time economically in the Euro zone. The yield on those bonds hit a record low a couple of months ago.

Also, receiving petro-dollar income, converting to Naira and disbursing to tiers of government, and hoarding the dollar. Ofcourse printing Naira is going to cause excess liquidity in the system (you don't need to be a genius to know that), then you have to tighten the yoke around people's neck even tighter- as if it wasn't tight enough. Shall I go on?

You're saying Soludo is a criminal and SLS has clean hands?? C'mon be real

Sagamite:
I am yet to see any other publicly known Nigerian more intelligent.

He is miles ahead of majority of publicly known Nigerians in thinking.

An absolutely INTELLIGENT MAN without a shadow of a doubt.

So I will definitely go with the premise proposed by the IMF.

A lot of you on NL should bow to Jarus for informing you of this because I have to give it to him, he has being saying it right from the word GO.

I would argue that Soludo is just as Intelligent if not more, same goes for Okonjo-Iweala, Fashola and many more other Nigerians home and Abroad. Bloody hell, I would argue that I am just as intelligent as he is, he's made some schoolboy errors.

gaskydudu:
I'm not a fan of Sanusi, however please don't confuse Sanusi's monetary policy responsibility with the Government's fiscal policies. There is little he can do if there are challenges on the convergence of both policies.

I never said anything about the government's fiscal policy (tax & spending), his stringent monetary policies are responsible for the high interest rates in the country and partly to blame for the low value of the Naira.

Intelligent- Possibly,  but "most intelligent"?-  Please, I won't buy that in a million years!!

BIGER BOY:
I wonder o. Some pple sef. Even without the IMF, u can't doubt the intelligence of the guy.
Guy u know Nigeria is not a tree standing alone in a plain desert, we r rather a tree in a jungle. The global economy is slumping and Nigeria unlike china is a net importer, and we have our reserves in dollars. So do u see the link to the worsen economy and wobbling currency? We r lucky to have a hardcore risk manager at the cbn at this particular point time.

I don't expect him to comment on Boko Haram at all, but you don't need to be a rocket scientist to know it's not the best time to push Islamic banking. Word is that the presidency told him to cool it a bit for now. We are not the only net importer in the world, that's not enough to explain that we are worse off than 10 years ago- when we're actually making more money

SLS is an excellent risk manager, but his policies are so rigid, and he's so strong minded- I don't think he takes other peoples opinion on board.

Akanbi_edu:
Reminds me of my position on Sanusi, long time ago.

He is one of the most intelligent Nigerians alive. no doubt about that.

I actually thought you were being sarcastic, please explain your rationale, again

Lagarde also gave a nod of approval to the economic team that has dared to deal with the political hot potato that is the oil subsidy removal.

“It is unpopular, but absolutely necessary and in the interest of the Nigerian economy,” said Sanusi, who Lagarde described as “the most intelligent man in the country.”
http://www.washingtonpost.com/business/industries/imf-chief-warns-nigeria-that-europes-debt-crisis-could-affect-africas-most-populous-nation/2011/12/20/gIQAqy8b6O_story.html

Now, I'm not against Sanusi he's cleaned up the banking sector which was excellent. "The most intelligent man in country"? Inflation in double figures, Naira at record low, borrowing rates at record high?? Yes I not we're not a manufacturing economy blah blah blah, but under Sanusi the economy has actually worsened due to his stringent policies. Islamic banking during such a delicate period Intelligent C'mon!!!

ABUJA – MINISTER of Finance and coordinating minister for economy, Dr Ngozi Okonjo-Iweala,  yesterday, said Nigeria was not going to implement any programme initiated by the International Monetary Fund, IMF, even as the Senate President David Mark urged the Fund to make its economic and financial policies friendly to Africa if the desired results must be achieved.
http://www.vanguardngr.com/2011/12/we-ll-not-implement-imf-programmes-okonjo-iweala/

Good move by the CBN  governor and Finance minister. The western world are looking to exploit Africa to develop their countries and even more so now with their countries in financial crises. Christine Lagarde is only looking out for European interests. I'll prefer Nigeria working with other countries in the Far East (Malaysia, China etc) than the western blood-suckers.

Sanusi/Buhari + Fashola/Rochas
vs
Mark/Sambo + Ekweremadu/Anyim Candidacy 2015.

You heard it here 1st. 

biolabee:
On pedigree Lyon should go through but you never know with the underdog,  
I think Napoli would edge Chelsea out
Arsenal (milan are old soldiers)
Bayern
Barca
Madrid (but the cold and thick- fast games in La Liga/Del rey/UCL may yet take its toll)
Benfica
Inter (pedigree at this level and Marseille has too many team issues)

Are you having a laugh?? I think Milan have a better chance against Arsenal than Napoli do against Chelsea.

FBS:
i say how is that  yaya still on da pitch?

I don't know bros. I hate that guy's guts,  0 skill, always puts in a good shift though,  he's tired-less!

Unbeatables my a***

manmustwac:
can somebody please tell me what happened to julian lescott's head?

He was in a car accident as a kid.

Bring Mikel in, Shut up shop AVB

goal!!!!!!

penalty!!!!!

Lamps!!!!! Where u been?

Chelsea will surely score. Counterattack

No more goals for MCFC.

scopusng:
I asked on 46 minutes whether that would be an important yellow card for Gael Clichy - and it has proven to be just that, the City full-back given his marching orders with a second booking for an ill-timed lunge at Ramires. The visitors must now play the remaining half an hour with 10 men.

I Mikel still playing for Chesky?

Mikel Who?

My bad, Kompany

Possibly one more red for Yaya or Company

I don talk am

Na red card go settle dis game

The coach must have spotted City's weak point.

Clichy can never handle Sturridge

Oskilala:
Torres has a goal in this match!!

Dream on! Chelsea will surely win but To-wetin?

Leasehold or Freehold?

No need to worry Jona-Jona, there won't be any revolt beyond your power. Nigerians are too docile

babski56:
i strongly disagree. . . . .a first class degree holder in exeter is not better than a pass out of mit! that's erroneous. the standards are different, [color=#000099]mate!.

An interview would not be based on where one has gone to university, I doubt that would account for anything, surely any respectable employer would want to understand your character, thought process etc Your C.V is what gets you the interview so by extension your employer already knows where you've been too school. Therefore if two people, one from MIT and one from Kingston university are called for an interview, they are more or less on a level playing field in the eyes of their prospective employer and so it would be other factors which would  decide who gets the job?
As this is Nairaland, I mentioned Nigerians. Also, significant Nigerians are easier to point out,  There would be no point telling you I am friend's with Justin King's son as there is a higher chance you haven't heard of him.  Also, it's a bit ignorant to assume that dangote's kids and adenuga's kids are all going to go back and work for their parents,

Looking forward to your reply 'mate'. It's a decent break from revision.

I agree with you to an extent, if I'm interviewing a 1st class candidate from Kingston vs a 2:1 or 2:2 from the likes of UCL. I would not be considering the university- the fact that they've both made it to the interview stage puts them somewhat on a level playing field. It now depends on the performance on the interview.

Yes, employers weed out candidates based on uni- but it's not as prevalent as you might be made to believe. There are more objective tests of your skills set nowadays. Just focus on getting the best classification out of your programme. It also depends on what you're studying as some uni's have a strong reputation for certain courses- I'm in science and engineering so assessments are more objective and not really what uni you're affiliated with.  My own 2 cents!

ezeagu:
Typical Nigerian bullshit.

Oh and let me guess- you are not Nigerian. Get over yourself you freakin' spastic!

Religion can and will never play any role in Lagos politics.

aloy/emeka:
So the triumphant entry of OLE into Lagos is more appropriate?.

Abeg free the guy jor, which politician for Naija no be tif sef. Tinubu carry go jare,  let them haters keep hating.