₦airaland Forum

PapaBrowne:
Foreign investors are coming back?? I dont think so oooh! Not at all. I haven't seen any signs of that yet. I have a friend at Emerging Capital Partners and from what I see they don't seem keen on making any new investments in Nigeria right now. . . at least until they know they the direction the industry is going. Right now, under Sanusi , it isn't clear at all!

RenCap have just increased their Nigerian portfolio substantially, likewise many others. . . this is partly why the stockmarket is bullish. . . . if you read any emerging market analyst write-ups, NSE is a hotpick this year. . . . I will leave you to do the research, if you have enough time between reading all your Vanguard articles! 

PapaBrowne:
The reduction in inflation is an indictment of Sanusi. His actions weakened the economy and the resultant effect was reduced spending which naturally impacted on the inflation figures. It had nothing to do with any monetary policy decision.

Decent point (about money supply). . . however, I refer you to continuing fall in money supply before SLS. . . .

https://i44.tinypic.com/14jlug6.jpg

I also refer you to the fact that credit growth had dropped YOY June 2008 - June 2009 to 6.2% from cycle peak of 90%. . . this trend of decelerating credit has been decreasing exponentially since mid-2008. . . for the same reason then as now. . . contracting balance sheets!

PapaBrowne:
Protected depositors funds?? To the best of my knowledge, the last time depositors lost monies was a while ago  before the onset of Soludo, so why would you list it as one of his achievements!

What makes you think banks cannot fail? N25bn capitalisation?

Put it this way, banks that were risking N1bn on loans before are now risking N50bln. . . the same mismanagement that characterised Nigerian banks still continue. . .

PapaBrowne:
On the RCCG and Northern Agenda stuff you mentioned earlier on page 4, I maintain the points I raised in previous discussions even though they seem politically incorrect.

How dare Christ Embassy and Winners Chapel try and steal marketshare from DaddyGo using such foul means?! 

lastpage:
Haaaba Ibime!

So you are using January 2010, to compare to date?

Walahi, dont let those people that lost a lot of money in 2008 catch up with you in a dark alley!

Thats why l asked you your base year

As an analogy, if l made #100 profit in 2008, made #50 in 2009 and in January 2010. made #10 and by May 2010, my "profit-to-date" is #30, would that not be (according to Ibime's mathematics ) a 300% profit l have made this year?

Even though when we use 2008 as our base year, my loss is over 300%

YOU TRY.

That things are picking up, relative to January, in May is not in doubt, thats always the trend, year-in, year-out.
May is always better than January, business-wise and in any other way u can look at it. Even in 2008!

No need for all this long talk. . . lets keep the argument in focus. . . I empathise that you have been making losses since 2008, but PapaBrowne's argument was that SLS has crippled the stockmarket. . . as far as I am aware, there is no need to go back to 2008 to quantify NSE performance under SLS as Soludo was in charge then.


BTW, how do you lose 300%?. . . you can only lose 100% even if you lose everything. . . .perhaps its your mathematics that should be under scrutiny here! 

lastpage:
@Ibime
(1.) Which year are you using as your "base-year" to compare the growth?


(2.) If people's stock portfolio 'real value' has crashed by more than 500% between 2008 and today, comparatively and you say there is a 40% growth, please EXPLAIN!

(1.) YTD 2010. . . NSE has grown circa 38%.

(2.) In response to fallacious claims that SLS has crashed the stockmarket. . . you have just highlighted the fact that portfolios have been crashing from 2008. . . . and are only on their way back up.

SapeleGuy:
What has this man achieved since he became governor?
How has he improved the economy?
Is there anybody that can say since he came their business has flourished?
Do we have foreign investors queuing up to invest?

Yes, we do have foreign investors queueing up to invest, thats why most foreign investors are increasing their Nigerian portfolio, and that why Nigerian stockmarket is one of the fastest growing this year.

You want achievements?. . . Sanusi has improved disclosure in the banks, he's wrestled inflation, he's kept Naira stable, and he's protected depositor funds. . . .

The only stick y'all have to beat him with is credit. . .

Credit is growing . . . YOY credit growth is slowing. . . .some dont understand the difference. . .

The supply of credit depends on the size of the balance sheets of banks. . . . . why wont people acknowledge that simple fact?

Credit growth has been slowing YOY since 2008!

PapaBrowne:
(1.) Foreign investors are scared stiff because of policy reversals.

(2.) The stock market is dead because risk has been criminalized.

(1.) The foreign investors that ran away during 2008/2009 are coming back thanks to better disclosure.

(2.) Why do you like propagating falsehood? Naija stockmarket has grown at 40% this year alone.

Akolawole:
@Ibime

Do you still have reservation for Uncle Carlo?

If not for injury to Wayne Rooney, we would be singing another story. . . . this ties in with your other question, namely why Wayne Rooney was player of the season. . . .cos Manure aint shyt without him. . . anyway, Uncle Carlo deserves another season to prove himself!

dayokanu:
Schweinsteiger and Millner? ok trust an epl fan

Why not khaki vs leather?

nateevs:
You are running your mouth. . .
Did you hear yourself? . . . "Even most us Bayern fans can't believe it". .
So we should fork out millions to pay Bastian who just discovered what has been missing in his game for ages. . When he could down south next season again.
I have been talking about Hamsik, Modric, Dzagoev, Arshavin for years, because they have been consistent. .

Let's watch what he does next season. . . but not at Chelsea. F'ucksakes, SWP had a briliiant season in 07/08 playing the CM role. . . even we Chelsea fans couldn't believe it.

Unlike SWP, Schweini has always been a central midfielder, just one that plays on the wing. . . sorta like Mehmet Scholl. . . .I believe his contract would expire very soon so it shouldnt cost millions. . . .

Dr Kitaun:
U guys should watch out instead for Germany, Italy, CIV and NAIJA . . .yes NAIJA, dont ask me why!

Why?

^^^Did he sign the new contract or is it still up in the air. . . I think the contract was supposed to expire this summer. . . . I agree, Bastian should be one of the top 5 CM's in the world this season. . . .

@ Nateevs,

Bastian has been simply world class in central midfield this season, unlike other seasons where he played left wing. . . . ask Dayokanu. . . .

TEE ZERO:
This thread is a disservice to reasoning.

How do you expect people whose ethnic fears have been stoked to reason logically? . . . all of a sudden, you would have so-called educated people buying all sorts of tabloid trash and ignoring industry analysis reports cos it doesnt conform to their fears.

[quote author=UcheUwadi_ link=topic=445908.msg6043612#msg6043612 date=1273974151]Ok I understand why refineries would be built along the coast in Bayelsa and Lagos state but I do not understand why build a refinery in Kogi State. Refineries should be located near the sea and also close to where the oil is extracted. It is not economical to build a refinery that is not close to where the oil is extracted or shipped. And like someone else said, the Nigerian governments needs to work on maintaining existing refineries before building more.[/quote]probably for Internal consumption. . . Kogi is pretty central, hence shorter delivery time to all areas of the country.

PapaBrowne:
The two phrases bolded in red and the one in green are quite contradictory, Don't you think so?

If the article is false, then the CBN surely does have a responsibilty to deny the statement especially given the points you have noted; that (1) the CBN is an institution of severe national importance and  (2)breaking down in public makes his position no longer tenable. . . .
I have waited for a denial of this article. . . . it hasn't come. . . . so it stands as a solemn fact that the CBN Governor broke down in public!!

Any CBN Governor who breaks down in public makes his position untenable. . . . if he really did break down in public, it would be a matter of SEVERE NATIONAL IMPORTANCE which would be carried and debated on by all members of the press and media outlets. . . . . I provide other articles covering the same conference:


http://www.nigeriannewsservice.com/index.php/Your-Naira/CBN-won%E2%80%99t-sell-banks-says-Sanusi.html

http://allafrica.com/stories/201005130829.html

http://www.enownow.com/news/story.php?sno=6020

http://www.ngrguardiannews.com/news/article04/140510?pdate=140510&ptitle=Inflation%20rate%20dropps%20to%208.3%20%,%20says%20CBN


I wonder why only Nkechi of CompassNewspapers saw that the Governor was crying. . .there are several cameras at such conferences, and if Mallam Sanusi was crying, the pictures would make the front page tomorrow. . . . I know Nigerian journalists have thrown journalistic integrity out of the window, but this is ridiculous!!!!

PapaBrowne:
@Ibime. . . I think you are too smart to keep holding up your argument for Sanusi! I'm 100% sure that you have lost confidence in him as he hasn't done anything positive in one year as CBN Governor to warrant your continued support. But pride would not let you switch sides. I understand!
The results from his actions are so negative that he is now blaming it on poor infrastructure.

I guess Okonjo-Iweala is also speaking out of pride when backing the CBN reforms completely. . . . or perhaps she is chasing a Bretton-Woods agenda.   I guess all the analysts and foreign observers who have never written the nonsense that you guys in Nigeria take as facts are also speaking from pride? Dont think that flooding us with half-baked articles from Nigerian tabloids proves that SLS is responsible for any perceived slowdown.


I am used to certain protocols when dealing with Financial matters. . . . you on the other hand have jumped from one agenda to another. . . I remember you telling us that the reports of stress in InterContinental Bank early last year was a plot against Redeemed Christian Church of God. . . . . next thing, it was plot by Saraki, using Lai Alabi as proxy. . . . then its Northern Agenda. . . . I think you were the one who even told us that you have data that lending has declined by 80%. . . I think if anyone should be questioned for exhibiting paucity of logical reasoning, it shouldnt be me.

You have not addressed any of the key financial issues to do with the banks. I guess SLS is responsible for giving out bad loans and accounting wizardry that was able to hide N2trn worth of toxic assets as verified by Independent auditors. I guess Standard Chartered Bank and Rand Merchant Bank must have been seeing phantom holes in the balance sheets of the troubled banks, hence their decision not to buy. Still you believe it is all down to SLS shebi?

You lot said that his sacking of CEOS would shatter confidence in the banking sector, yet the NSE (and particularly the banking sector) is riding high on the confidence that accountability and regulation is tighter in Nigeria.

SLS has performed commendably in addressing key issues in our banking system, especially in the area of regulatory oversight. . . You can pick any other EI such as Inflation, Naira-Inflation, Interest Rates etc and come back and tell me that SLS has not done anything positive.


If you believe SLS has not done anything positive, thats your prerogative. . . just know that the outright falsehoods about CBN reforms only hold credence in your Banana Republic tabloids. . . .just dont make a mockery of your education by ratifying such articles at the expense of analyst reports and more credible news agencies such as Businessday. . . as for me, I cannot throw away my commonsense and sophistication to the whims of paid hacks and ethnic jingoists.

The newspapers are in overdrive. I dont know why they pick on Chelsea. We've already announced that next season will be the season of the Kakutas, Matics, Sam Hutchinsons and Jeffrey Brumas. . . . I dont see much space for too many additions. Of all the names linked with Chelsea, I think Pato and Luis Suarez are the most compatible. With DD already occupying the central striker's role, I see no space for Torres and Agueros. Guys like Pato and Suarez can play wide, unlike Torres and Aguero. I dont see Chelsea adopting a 4-4-2 just to fit in Torres or Aguero. That is not our strength.

I would like to see summer transfer campaign like this:

Joe Cole's contract expires - replace with Stoch and/or Kakuta.
Belletti's contract expires - replace with Nemanja Matic
Paulo Ferreira is sold - replace with Hutchinson/Bruma
Hilario is sold - replace with any able deputy, Marton Fulop for example.
Deco leaves for Brazil - replace with Borja Valero or Ever Banega.
Ballack's contract expires - replace with Bastian Schweinsteiger, Yoann Gourcuff or Marek Hamsik.
Sell Mikel - replace with a faster DM

Buy Pato to give WOW factor and to make the difference in the big games.

The problem has never been the building of refineries, but maintaining the refineries. . . too many Nigerians see NNPC as a cash cow to be used to milk the country dry and take their share of the national cake, thats why we are never able to keep refineries functioning. . . the only reason NNPC refineries do not work is CORRUPTION, not lack of technical skills.

[quote author=paddy_lo link=topic=445777.msg6042966#msg6042966 date=1273958621]ol boy that one na long thing. . . .

Every Nigerian knows the negative effect of sanusis so called reforms. . .

From unemployment,to Credit crunch,to Flight to safety by banks,no one is taking risks anymore

There is something called a negative feedback loop,and Nigerias economy is currently stuck in it

we need to break it and get back to credit creation,risk taking,and the willingness of banks to actually grow their loan books
instead of buying FGN bonds and hoarding cash. . .which will ultimately lead to employment

hopefully we will get there soon but this dude(Sanusi) needs to shut up and stay in the background
no more speeches no more crying,just get the job done without rattling the markets[/quote]This is absolute rubbish. . .


Get back to risk taking?. . . what kind of risk taking? The type that would render them insolvent? He who does not have cannot give. The healthy banks amongst them have declared their intention to expand their loan books by 10-20% this year. This is sustainable, not this inane expectation that the kind of behaviour that led banks to near-insolvency should be repeated, at cost to the taxpayer.

You said yourself that the banks are distressed. We established the fact that the balance sheets are overburdened with bad assets. I can pull up the thread if you wish.  Even Standard Chartered Bank who wanted to buy some of these banks pulled out after examining their balance sheets. If the banks are healthy, money would talk. Since you have foregone all logical reasoning, it is safe to say that your arguments are completely irrational.

This is why I ask you to list the individual actions and their attendant effects, lets see if there is any logic in them.


They said that sacking the CEOS would kill confidence in our markets by advertising to the whole world that we are corrupt. . . yet all analysts see Nigeria as the no 1 emerging market this year, and all foreign investors have upped their Nigerian portfolio. . . . NSE is one of the fastest growing markets YTD.


Now Naijaking and others are telling us that there is no rot in the banks, and that we only repeat what SLS has said. . . . I challenge anyone to go through my posting history on Nairaland and see where Ive written the exact same things being borne out now about the banks. . . some who hadnt anticipated such things are surprised.

Sean Kingston and Justin Beiber - Eenie Meenie Mannie Mo Lover!

[quote author=paddy_lo link=topic=445777.msg6042845#msg6042845 date=1273956781]Thats laughable. . .what has him being there, benefited the North?
matter of fact if the Nigerian economy dies due to his actions the whole country will suffer not just North or South[/quote]And how have his actions affected the economy?

Please list the actions and the attendant effects!

eldee:
Nah, I'm a Bucaneer

So you be fine boy?. . . . I knew you wasnt the warrior type!


When did K'naan start singing sef?. . . . I hope he's not gonna be one of these rapper-singers. . . . nothing special about his raps IMO. . . . and his singing?. . . .well, how many octaves can his voice carry?. . . it seems everyone is a singer namadays.

naijaking1:
Don't attack the journalist.
Sanusi or the CBN has not denied or demanded a retraction of this story as written. If you're so saddened by the story, contact Sanusi or his well paid publicity machinary and write a retraction. Thank you.

Its either you wanna engage in self-delusion, or you want the truth. . . .this is a verifiable lie. . . . many journalists have written on the LCCI conference, and Nkechi was the only one who noticed the CBN Governor crying. . . . CBN cannot concern itself with dispelling the many myths that our journalists print. . . .that would be too noisy. . . . it already is. . . . no Central Bank in the world has to contend with such. . . .

Am not concerned with lies or whatever (which are aplenty), but the recklessness of this lie is ridiculous. . . . we are talking about an institution of severe national importance here. . . . this is why I always go to businessdayonline to get my financial info, not these National Enquirer wannabes. . . . needless to say, if the CBN Governor suffers a breakdown in public, his position is no longer tenable. . . . .

Unfortunately, it is the likes of this journalist who lies to us that our Central Bank Governor was crying (without producing any pictures) that typify the kind of subversive hatchet jobs being carried out on the institution of the Chief Regulator of our Financial Markets.

I am still waiting for the picture of Sanusi crying. . . . having read alternative reports on the LCCI conference, I can tell you that every single statement in this article is an embellishment. . .

eldee:
I'm still yet to download the album . . . you guys are pirates.

And what are you?. . . . Kaiser Chiefs? 

Nasri should shut up. His and Benzema's disrespect toward older Les Blues players is the reason why he wasnt included in the France WC squad.

@ OP,

Go to www.alibaba.com

You'll find market for anything you wanna sell.

I would not take any of this article at face-value until I see a picture of "tears rolling down Sanusi's cheeks". . . . I have read an alternative report on this conference, and the picture painted could not be starker in contrast to the picture painted here. . . . since the journalist has chosen to throw journalistic integrity down the drain, I would say that every single statement in this article is an embelishment. . . . at least until I see a picture of Sanusi crying.

Welcome to Nigerian journalism, the most compromised profession in Nigeria today.

Can someone post the picture of SLS crying?

I know Im already doing my part for Africa by sending money home every month, so Im sure Nas wont mind if I download this album right now. . . . . . besides, I must have spent £100 on Nas albums over the years, so Im due a free album at this time, especially as Nastradamus and God's Son were not worth the money I spent on em. . . so as one hand giveth, the other hand taketh away. . . .my apologies! 

I think the question should be directed at Paddylo who told us authoritatively that crude oil would never cross $67/barrell. . . 

Kay 17:
try listing three memorable passes made by him.

So of all the 20 assists he made, you couldnt pick one?. . . . either you're blind or just being obnoxious.

The best assist this season was made by Lamps against Bolton. . .


[flash=425,344]
https://www.youtube.com/watch?v=PQ8WMkGQ0xc&hl=en_GB&fs=1&
[/flash]



Lampard = Midfield General. . . . Great vision, intelligence and stamina.


[flash=425,344]
https://www.youtube.com/watch?v=Ld9xXJEuBZM&hl=en_GB&fs=1&
[/flash]

alexleo:
For long we have witnessed a long argument between those of us who are serving God and those who claim that there is NO God. Now lets simplify this matter now and settle it once and for all. I hereby challenge all those atheists and satanist who say that there is no God to do just this one thing if they are 100 percent sure of their stand.
If you are sure that your stand is right then say this- GOD IF YOU EXIST AS THE CHRISTIANS WANT US TO BELIEVE , THEN LET ME BE BLIND FOR THREE CONSECUTIVE DAYS FROM NOW. Make sure you write it here so that all of us can see that you actually said it.

I pray God to respond to you immediately so that you may know that he truly exist. That you may know that the earth is the Lords' and its fulness thereof. That you may know that he reigns all over the earth and that he so love the world that he gave his only beggotten son that whosoever believes in him will not perish but have everlasting life and that you will turn to him and worship and serve him in spirit and in truth. That you may also spread the testimony of his supreme existance here and yonder In Jesus name I pray. AMEN. He is the God of the whole universe, without him was not anything made that was made. He is our creator. He is my life and my salvation. I love God. May God give you this experience that you may serve him and make heaven at last, in Jesus name I pray.

pls note, this is not a joke. lets settle this matter once and for all. All the glory goes to no other person than the Holy Trinity now and forever more. AMEN.
The floor is now open for those of you who are sure in their believe that God does not exist to respond accordingly. Failure to do so will only mean that you truly know that God exists but you dont want to acknowledge it. DECEIVING YOUR OWN SELVES.

Peter I know, Paul I know, but who are you? 

Either you've been drinking tombo, or you fancy yourself as a man of great power. Are you issuing threats on behalf of God over the internet ?

If Bamowolo and the rest dont go blind, will you renounce your faith? You cant have it both ways.

[quote author=paddy_lo link=topic=444299.msg6026928#msg6026928 date=1273713183]^^CAVEMAN Akamo. . .Still clubbing women in this day and age[/quote]Fred Flinstone style! 

Hackney Marshes of all places?

Since 2005-06 season, Lampard's Goals+Assists tally is 3 less than David Villa's (179/182). Its quite incredible that such an achievement has gone unheralded for so long.