₦airaland Forum

^^^ Michael Carrick ke? Please, Carrick should go and sit down jor.

I was priviledged to see him live only once, at the friendly match against Japan in the build up to WC 2002.

He controlled the midfield exclusively and dominated possession against the likes of Nakata, and never let a pass go astray. Okocha was just there adding jara to make the crowd say "aay, aay".


Sunday Oliseh was Nigeria's greatest central midfielder of all time.

Beaf:
@SapeleGuy
Ibori holds the master key to the cabal. Get Ibori and the cabal can never regroup; after Ibori, Aondoakaa, Ruma, Tilde etc can be picked up without the weakest whimper.

Thats just one cabal. . . there are bunch of cabals, none of which have the common man in mind.

Ogbulafor is chasing Odili, Nnanami, Masari and Wabara.

Meanwhile, Jonathan is chasing Ogbulafor, Ibori, Bankole etc

They should all kill each other, make I hear word.

Bunch of ingrates!

^^^ Dont they have anyone to proof-read their stuff before printing?

buffox:
Our source revealed that Olatunji got 27 education ministry contracts and three contracts from the education ministry.

Nigerian journalism is dead!

dayokanu:
Maga abeg we wan sell Ribery.

A bid of 60m is needed.

With the threat of jail hanging over his head, you will be lucky to get £5m for him. . . . Bayern should just face reality and offer him a new contract. . . . I havent seen any rumours linking him with a move since his peadophilia scandal broke.

hehehehehehe. . . .

SapeleGuy:
"MEND wishes to disown the elders claiming to speak on our behalf at this time and that includes Chief E.K.Clark.

At the appropriate time, we will be putting together a team of notable Nigerians drawn from every tribe in the Niger Delta and some others outside the region to represent the group." Jomo Gbomo 05/07/2009

As you are aware, that team was the Aaron team.

Lets not derail this thread. . . . this was in the lead up to the amnesty, and every Niger Delta leaders was speaking in the public arena. . . so MEND made it clear that [b]no one [/b]represents their position except Aaron Team. . . . calling E Clark's to emphasize this point, as E Clark is often seen as their spiritual father. . . . this is not tantamount to a disownment of the man. . . .  there are many instances of cooperation between MEND and Clark in aftermath of this statement. . . but lets not digress. . . .

SapeleGuy:
Oh yes, i forgot that they decided not to investigate corruption between BAE and Saudi Arabia because it was against national interest. I digress.

well, well. . .  . I knew you would look for excuse as to why the British Justice system is rotten to the core, and not fit to try an upstanding citizen like Ibori  

Lets not forget that that case was dropped over Saudi threats to withdraw vital Intelligence and Security co-operation. . . .



Abeg those who claim "witchhunt" should first prove that Onanefe is not a witch. Im tired of Nigerians and their wuruwuru. . . I will no longer entertain demsay demsay.

Ribery, as a practicing muslim should endeavour to keep his wife's face veiled by a niqab, if not for religious reasons, at least for aesthetic purposes.

SapeleGuy:
EK Clark is somebody who has been rejected by MEND

I am not holding brief for E Clark who I think has mishandled Igbo-Ijaw relations, but this assertion is false.

SapeleGuy:
We must not condone injustice and illegality in the quest for justice. Follow due process and our democracy will gain confidence and flourish.

If Ibori is confident in his innocence under a truely just and democratic judiciary, he should submit himself to the British courts and face the charges over there.

The Igbos must come together and lobby Jonathan to release Uwazuirike in keeping with the current "amnesty programme". . . . apparently, some individual alleged that Uwazuirike kept him detained to stop him wreaking havoc under the name of MASSOB during the Anambra election. . . . if true, Uwazuirike should be lauded for preserving the peace during the elections, rather than arrested. . .

When the British were after Ibori, he tried to paint it as an Imperialist agenda.

Now Jonathan is after him, it is Ijaw agenda.


Whether "Imperialist agenda", "Ijaw agenda" or a "power play masquerading as anti-corruption crusade", I am still waiting for someone to swear to me that Ibori is clean as a whistle.


If Ibori feels victimised in Nigeria, he can go and submit himself to the British judiciary where Im sure the British courts will grant him a fair trial.

Emperoh:
. . . . it is also rumoured by the same guy that JT's wife is also having an affair with a Derby County player. . . . .

No, the rumour is that Gerrard's wife is having an affair with the Derby County player.


Chelsea nuccas arent wimps. We cheat on chicks, chicks dont cheat on us.

Lagos is 18 - 20million.

As to whether the BBC is right, it depends on your definition of slum. By the Queens standard, all 20 million Lagosians live in slums.

^^^ All my arguments are factual and backed by statistics, unlike someone that can sell an idiot like you a story without concrete facts. A lazy journalist says that deposits declined, and gave statistics that showed us that deposits increased. . . and you are coming here to quote him for us. . . abi you think we are primary school students?

naijaking1:
Most of the cash in circulation are hidden under the pillows in Nigeria, thanks to Sanusi's messages that led to loss of confidence. Why don't you you get it?

If you had any brains in you, you would go and check the figure in circulation one year ago.

Just because Naijaking has an IQ of only 80 today doesnt mean he hasnt shown improvement. Maybe one year ago, his IQ was only 70.

Point being. . . If more cash is stored at home than in the bank today, you need to go and check if same was the case last year. . .or even worse. . .  before coming to expose your lack of intelligence. . . I hope you know that only 16% of Nigerians own a bank account and historically, there has always been more currency outside the banks than in it.

The journalists even tells you that the currency inside banks increased [/i]from  N581.727 billion to N689.895 billion while the currency [i]outside the banking system decreased from N824.456 billion to N814.539 billion over Jan-Feb. . . . then an idiot like you is telling me that more and more Nigerians put their cash under the pillow. . . with your level of intelligence, Im sure I can sell sand to you even in a desert.

Please drop your brains in the dustbin on your way out.

naijaking1:
What is more worrisome is that Nigerians are withdrawing their money from banks.

For instance currency in circulation for the month of[b] January 2010[/b] stood at N 1.072 trillion. Out of this amount N 581.727 billion are in the banking system while N 824.456 billion is out side the banking system.

For the[b] month of February[/b] the total money in circulation amounted to N 1.053 trillion, of this amount N 689.895 billion is within the banking system while N 814.539 billion is outside the banks. This is alarming.

Deposit in the period stood at N 3.766 trillion for January and N 3.912 trillion for the month of February.

Naijaking must be as silly as the articles he reads.

The author said "What is more worrisome is that Nigerians are withdrawing their money from banks". He didnt even bother to give us historical comparison.

He did a give us a comparison between January and February though, which shows a growth in the amount of currency in banks from N 581.727 billion to N 689.895 billion and growth in deposits from  N 3.766 trillion to N 3.912 trillion between January and February.

So how does that tally with "Nigerians are withdrawing their money from banks" and can we have some comparative analysis to back that up? We know deposits shrank by N95bn in March as discussed here, but this lazy journalist couldnt even bother to quote the March decline to back up his statement. . . . and even then, after a growth in deposits of N120bn in February, is one month of 95bn decline enough to draw a definitive conclusion over a period of 8 months since the banking reforms?

As for credit slowdown, we have also discussed this extensively and even pinpointed the sharp deceleration in credit even pre-Sanusi. Without going over the same points again, lemme add that the culture of margin-lending (lending depositors funds to moguls to buy shares in same bank) which largely drove the sharp rise in credit growth in 2007/2008 is over.

Why do fools control the National debate? This article is laughable and so biased, even a JSS3 student could pick holes in it. BTW, Naijaking should throw his brain in the dustbin.

Quite happy with this bill. . . . all in favour say Aye. . . . the Aye's have it!. . .

I just hope enforcement wont become an issue. . . we do not lack laws in Nigeria, we lack their adequate enforcement.

[quote author=paddy_lo link=topic=434296.msg5928203#msg5928203 date=1271840338]Now thats what am talking about, we have to be like norway and establish a fund for future generations of Nigerians
not eat all the money today, [/quote]Its quite ironic that the administration "eating all the money today" is talking up the Sovereign wealth fund as a conduit for investing excess crude revenue. With Nigeria set to run budgetary deficit for the rest of the Jonathan administration, I think it is safe to say that the SWF will only be capitalised by the next administration. . . .if they prove to be more fiscally prudent than the present one, of course.

Sagamite:
Great documentary!!!

[size=14pt]All Ogun State University graduates cover your face in shame!!![/size]

Una know wetin I dey talk about.  

hehehehe. . . you gasto rate those guys for building a 1km raft sha. . . una wey go school never fit do that one. . .

^^^ hehehe. . . . I did read it. . . . I put it out there to show Mikeansy what a balanced and informed view of the economy looks like, unlike his quotes from disgruntled Alaba market traders.

naijaking1:
These quotes were asked for by you guys as proof that the economy is going sour, now you seem irritated by the truth in these articles

And am still waiting for proof that "the economy is ruined" or perhaps you dont understand English.

Is the US economy ruined or is it on the rebound? Cos they seem to be suffering from the fastest decline in bank lending in their history.

I have been magnanimous enough to allow you guys to explain yourself away by saying "lending is declining. . . . but the economy is still growing" (8.2%, 4th Q, 2009). . . now the next thing is for you to prove that decline in lending is Sanusi's fault, but you seem to think going to pull up more quotes from Alaba market traders will prove that Sanusi is responsible for credit-contraction. . . .it seems you have no appreciation of a business cycle. . . .  thats why I am waiting for you guys to also tell me that Ben Bernanke is also responsible for US credit-contraction by same measure. . . .

FACE:
Incoherent and childish. They deserved to fail ! Nigeria had a narrow escape because those rascals had nothing to offer. The speech was replete with rubbish and had little or no substance.

Now, I'd like a good ol' revolution by intelligent fellas but I'm not keen on a revolution that was put together by dimwits.

lol. . . at least they weren't "homosexually-centred"

mikeansy:
http://nigeriamasterweb.com/paperfrmes.html

Why do you like repeating yourself like a broken clock? I am noticing a trend when any Sanusi-hater is challenged with facts on here, they go and produce another accusation instead of backing their initial argument. Since only one man called Sanusi is responsible for 100 different crimes against the financial system, I can only assume that irrational hatred is driving all these spurious allegations. I am still waiting for you to tell me how I should categorise Ben Bernanke vis-a-vis credit tightening in the US.  . . or even addres any of the other points raised.

Having already established a credit tightening in the Nigerian economy (and world economy) as a whole, what credit should I give you for pulling out quotes from different subsectors of the economy? Whats next. . . are you going to pull out a quote from the Snail Sellers Association of Nigeria telling us they have malaria because they have been in the sunshine too long?


Now you want us to take economic advice from someone who wants us to believe that he "can build a house in 2 days". . . . he must be talking about zinc house. . . cos I dont even think a foundation will set in 2 days. 


Next time you wanna educate us, please produce a link like this. . . http://www.businessdayonline.com/index.php?option=com_content&view=article&id=9991:getting-to-grips-with-nigeria-gdp-&catid=117:news&Itemid=349. . . not all these comments from the economic equivalent of Alaba market traders.



And BTW, since you believe IMF backing of reforms is too long ago, I wonder what you have to say about Okonjo-Iwealas backing just two weeks ago. . . . or many of the other comments by seasoned observers and international investors and analysts, none of which I deem worthy to provide for you as often as you provide quotes from Alaba market traders. 

When it comes to first touch, David Silva has to be seen live to be believed. . . was at Emirates tournament a few years ago where dude proved beyond doubt that his touch-technique is on another level. . . forget Modric. . .

Berbatov and Kanu should be competing for best first touch (with back to goal). . . but as we all know, Berb'Adua and Kan'Udua are slower than snails.

Eziachi:
John Fashanu will always be a fraud. How can he had played with Kanu Nwankwo? Fashanu has retired from Football even before Kanu arrived in England from Inter Milan.

How can he play with Kanu when he retired in 1994?

He even said Kanu scored against him when he was at Aston Villa?

geez. . . . I lost by one point. . .

SapeleGuy:
It is amazing that people on this site who can grasp complex economic theories refuse to come to terms with a joined up approach to risk and national resilience.

We do expect a joined-up approach to National issues. What we wont accept is a mindless NSA faulting others out of ignorance. Gusau could have simply said that "economic problems threaten security" without giving us his limited and faulty economic analysis. . . . Lets get Gusau out of the way, and deal with the economic issues raised. . .


Beaf said that Sanusi is to blame for fall in lending and quoted our venerable Maijama of NASSI to that effect. . . . I wanna also ask if Ben Bernanke is responsible for the fastest decline in US bank lending in history. . . and I am talking 2010, not 2008. . . . this is what happens when we look at economic issues through a narrow lens. . .


Every instituion faces a trade off between liquidity and profitability. . . .liquidity requires keeping adequate capital to prevent cash flow problems and possible liquidation. . . whilst profitability (within context of banks) requires them to lend (release liquid capital) to make profits. . . .  if we look at our problems in 2009, we had a liquidity crisis. . . all the policies implemented (reduction of MPR - by both Soludo and Sanusi, introduction of EDW, reduction of NIBOR through blanket guarantee by CBN of the Interbank market. . . .  amongst other measures) were implemented to arrest a liquidity crisis and prevent cash flow problems taking banks under. . . . then a capital adequacy requirement of 10% (similar to Basel II requirements) was put in place to prevent the same risk repeating itself. . . this was how the liquidity problem was averted. . . and it was successful. . .


Just like in Yankee, this is a problem which has been building up over time, and even after arresting the liquidity crisis, analysts both home and abroad expect a slow easing of credit, not an immediate panacea . . . so all this shouting na yawa. . .


Apart from natural cautiousness on the part of banks to prevent repeating their old mistakes, some of the fiscal measures taken to both treat liquidity crisis and prevent future scenarios also work to disincentivise lending. . . these include anything from capital adequacy requirements, widening (and expected tightening later) of interest-rate spreads, low interbank rates etc. . .like they say in economics, every economic medicine has side-effects which also need to be treated. . .  whilst Bernanke for example would like to address the fall in lending immediately, he is aware that any attempt to reverse some of these policies could lead to further-capital erosion and a return to liquidity problems. . . so na jeje im go do am. . . .

Economic policy is a balancing act. . . those who accused Sanusi of killing the stockmarket in 2009 have now changed focus to credit-tightening in 2010 in light of 36% increase in the NSE. . . paradoxically, a lot of the growth in the stockmarket is being driven by bank funds that could otherwise have been lent to the economy. . . this is true both in Nigeria and Western markets. . .and will continue to be so as banks prefer to keep liquid capital more than ever in light of their recent liquidity problems.

Whats Belletti's status sef. . . I thought he was injured. . . I hope he is alright cos Ballack gives me the jitters at DM. . . . infact, I prefer Belletti to Mikel sef.

Whilst we all hate selective justice, it doesnt stop us from celebrating when one criminal is caught.

Yes, justice is selective in Nigeria (depending on who is in power), but in the meantime lets celebrate the downfall of Ibori. If it was IBB, OBJ, Odili, Danjuma or any of the Haliburton guys, we would still celebrate equally.

Some are saying we should afford Ibori the justice that attains in a true democracy, however a crook like Ibori who murdered democracy during the Yar'Adua saga cannot expect to reap the benefits of same democracy.

And BTW, those of us calling for jungle justice for Ibori only do so because we know that the Nigerian judicial system will not deliver an appropriate conviction. We shouldnt even bother trying Ibori for fraud. . . some EFCC officials have been gunned down whilst investigating his case. . . that is what we should try him for.

Beaf:
[size=14pt]Jail awaits.[/size]

Na lie oh, dey must carry out jungle justice on the spot. . . . I no want story like Bode George wey dey chillax for 2 years only. . . if dem no deal with the guy kpatakpata, whoever is President in 2011 may pardon him sef. . . you know Naija "do and undo" politics between competing cabals. . . for resisting arrest under force of arms, there is every legal justification to send this weasel called Ibori to the great beyond.

Am waiting for those in the house to prove that there is economic crisis in Nigeria relative to yesteryear that should substantiate a significant additional security crisis. . . so far, someone is only pointing to 9,000 jobs lost in the banking sector. . . . the tenuosity of such links is mind-boggling. . .someone is even pointing to America who have had 2 straight years of economic contraction and a 100% increase in unemployment as justification for a mindless NSA making unsolicited claims about Sanusi's effect on National Security. . . I need to see some Economic indices from August 2009 till date, not dem say dem say.

Whilst no fool on earth doubts that prosperity and security are linked, some have twisted themselves out of all human logic to prove that Sanusi is the security threat that broke the camel's back. . . . in a country where the camel's back if not already broken, has been suffering from significant hairline fracture for decades. . . .

naijaking1:
If he is corrupt like the other people on the list, why don't we let the court swing into action.

It seems like you are willing to compromise principles (if you have any) whenever any of Sanusi's traducers are mentioned to be corrupt. The US Judicial system has churned out the names of bribe-takers in Nigeria and you are still saying "let the courts have their way". . . . the courts have already had their way and named Gusau. . . . unless of course you mean "let the Nigerian courts have their way".

It is difficult to enact a single monetary policy for different economies who have different budgets, different levels of debt and consequently, different needs. . . . this is perhaps an unprecedented problem being faced by the Eurozone right now.

This is good news if true. . . . if Jonathan can deliver power, who knows, he may even set himself up nicely for 2011. . . . at least some progress is being made. . .