₦airaland Forum

debosky:
All in all, I am yet to be convinced by Sanusi - he's made some good noises BUT the stories beginning to emerge are not looking too good. In addition, his bull in a China shop approach has not quite yielded the desired effects.

Some may recall how Soludo sacked Omoyeni as MD of WEMA bank (and had him arrested) last year for granting himself loans without recourse to due process. . . . Omoyeni even took out adverts in the dailies accusing Soludo of Igbo agenda. . . . . Sanusi came in and did the exact same thing, now it is Northern Agenda. . . . I blame Omoyeni for not having a strong PR team behind him like Ibru et al who virtually have Vanguard Newspapers etc in their pocket. . . . maybe if Omoyeni was more vocal about his sacking last year, he would be the saint, and Soludo would be the aggressor. . . .and perhaps Debosky would have even accused Soludo of acting like a "bull in a china shop" 


It is funny that the same Layi Alabi who Soludo chose to replace Omoyeni at WEMA bank was also chosen by Sanusi to replace Akingbola at Intercontinental bank. . . yet some Nigerians (thanks to Vanguard newspapers) beleive Alabi's appointment to Intercontinental is part of Saraki's anti-consolidation agenda  because he once worked for Saraki. . . . was Soludo also working to Saraki's agenda when he appointed Alabi as interim MD of WEMA bank? . . . . . una dey here dey disinvest cos of newspaper rumour, whilst South Africans and others are looking to enter the market and take the whole shebang at a deflated price. . . rumour has it that M&A experts in Naija are being kept busy right now by the South Africans. . . . I hope this wont be another MTN. . . .[size=5pt]thankfully, Mike Adenuga is here to provide some competition for them once again with his recent $150m investment.[/size]


IMHO, the debate about Sanusi boils down to a simple debate. . . . are you pro-corruption or anti-corruption?. . . . when Soludo sacked Omoyeni, some people were happy that Soludo was taking corrective action. . . . others argued that Soludo's action could undermine confidence. . . . why?. . . . because they know Omoyeni was just the tip of the iceberg and didnt wanna see the false confidence evaporate from the market when the true degree of fraud is revealed. . . . but if the statement from Rand Merchant Bank is anything to go by, after the flight of foreign capital in 2008, when shady practices became apparent to foreign investors, it was always gonna take a cleaning out of the augean stables for them to come back . . . . people have to know the true value of what they're buying so Naija have no choice but to implement strict regulation. . . and Sanusi is the man for the job. . . . already, CBN has suspended the use of Commercial Papers and Bankers’ Acceptances in off-balance sheet instruments, cos they were being used to hide toxic debts/assets.



Im of the belief that Sanusis push to ensure proper capital-adequacy is to the same end as Soludos consolidation exercise which was primarily aimed at ensuring capital adequacy and liquidity. Nigerians should take it at face-value. Im waiting to see the likes of Naijaking, Daviddylan and Beaf etc investing in Naija market before I chook head.  Why should I be the only one buying when everyone else is selling on the false premise that the market is rigged in favour of a Northern agenda? 

[quote author=paddy_lo link=topic=364218.msg5082511#msg5082511 date=1260404300] ^^^^^^
why are u posting this here . . .they are plotting to kill americans like kobojunkie. . . not us. . .[/quote]You dey mind Osisi. . . . Osiso comot this nonsense for here. . . .

Sanusi is not the most qualified guy on paper. . . . I think thats obvious. . . . I argued against his appointment against Jarus. . . . however, Nigerians would find it to their detriment to entrench their opposition because of that. . . . just like Nigerians will find it to their detriment to believe some "pie in the sky" story about some kind of Northern Agenda.


Its funny how one story in a newspaper could erode all confidence in a market. . . . honestly, with the kind of false & negative reporting going on right now, Sanusi will do well to turn this ship around. . . . if it was in the UK or US, Vanguard newspapers and their benefactors would be arrested for spreading insidious rumours to destabilise banking institutions. . . . just like happens in Yankee. . . . . unfortunately, we pay a heavy price for our democracy. . . . the politicisation/ethnicisation of our financial markets is something we cannot afford.

Cristalz:
Chelsea - Everton

S'up darling. . . . . I feel like engaging in rhetorical flourishes this weekend. . . .the Patrick Obahiagbon inside of me is itching to be unleashed on the Chelsea-Everton match thread. . . . .  unless someone new wants to do it. . . .

4 Play:
See as they are insulting Jews.

Next question: Are Ladas really Ferraris?

Are you saying Igbos are Ladas and Jews are Ferraris?

Where is WilyWily. . . . Im waiting for a witty quip about how the Yoruba leaders are brownnosing up to Arewa again.

Cristalz:
(1.) I used to enjoy Fry. Hugh Laurie's nicer days. Will be nice to see 'em together again.

(2.) So, what's up with your team? 2 losses and a draw in succession.

(1.) Weirdo. . .

I only know that nucca from his documentaries. . . .


(2.) Am sure the media and scum rivals cannot wait to build it into a crisis.

Im pissed off Essien was played. He was one yellow away from suspension, now I hear he's torn a hammie. Black Stars of Ghana gonna cry.

I heard Obertan was killing em at the Volkswagen arena. Some even say he's gonna be the next Ronaldo. Dont worry, its something we have seen many times before from Obertan. You lots will soon get fed-up with his lack of end-product just like Nani.

If Berezutsky failed the test, then his twin brother should also be tested. There is no way one twin could be doping without the other knowing or even participating.

DK, you shall walk and not stumble. . . . The Lord hath lifted up your head in the midst of your contemporaries. . . . just saw the result. . . . good one bros. . . . I hope you stick it to the Arses next round.

Cristalz:
Did you get an autograph?

I didnt wanna disturb the guy, he was there with a young man (maybe his son or nephew). . . . I had to be cool and play it off like I belong in that executive lounge. . . . FFS, they must have thought I was some kind of celebrity meself!

So we drew. . . . I left at 2-1. . . didnt wanna get caught in the melee on Fulham Rd. . . . Kakuta dissappointed. . . bumped into Stephen Fry.

Beaf:
But bros, global warming means the gulf stream will likely stop and UK will become like the north pole.

I dont know about all that bruv. . . . when that time come, I go relocate.

nateevs:
You no well. . Money is not my problem. . I run out of ways to spend. . 
You better no talk too much. . You don't even know if I am the sponsor of the sponsor of your seat. .

hehehehe. . . . while we are busy balling in executive lounge in the here and now, you are busy talking about your future is so bright, you gotta wear shades. . . .since I met you on NL, your future has been bright. . . .  the clock is ticking nigga. . . . the amount of time left for you to enjoy your future is getting less and less each year! 

The West is trying to rig the energy market.

Abeg, we no do jor. Development first, climate change later.

Besides, the kain cold wey dey hit us for London these days, I cant wait for climate change to hurry up and come.

Ibime:
Just found out we're in the glass box. . . . Ill take some pictures so broke muthaphuckas like yourself can get a glimpse of what it looks like.

Correction. . . . we are in the executive lounge (free food and all that), but not in the glass box. . . . even levels get levels

nateevs:
Good stuff. .
I will be in the glass box, a couple seats away from Roman . .
I will look out for you . . I will wave at exactly kick off. . So you know it's me.

Just found out we're in the glass box. . . . Ill take some pictures so broke muthaphuckas like yourself can get a glimpse of what it looks like.

PapaBrowne:
How come the names of Saraki's 3 companies, which collectively owed above 8bn naira were conspiqously missing from the debtors list when it was released in August??

How come 3 directors appointed by Sanusi as new management for Intercontinental bank all worked under Saraki??

So much for coincidence.

Truthfully, there is much more evidence to the Saraki angle, but legalesse wouldn't permit me to bring them all out yet.

Lemme guess. . . . Saraki initiated the agenda so he could get a waiver on a loan. . . why didnt he just carry on not paying the loan, knowing that Intercontinental had little or no recourse to get the money back since the loan wasnt likely collaterised. . .

This conspiracy theory carry too much conjecture abeg. . . . if you believe it, I have no option but to look you with cock-eye 

Why do the North keep threatening break-up over this Yar'Adull issue?

That is a threat that the South will very happily oblige to. Infact, it will be met with great celebration.

naijaking1:
Last week, when I predicted massive job loss via Sanusi

Anybody who didnt predict job losses in the banking sector must be living under a rock. FYI, downsizing started way back in September, with WEMA banks sacking of 500 workers, so your prediction was perhaps an afterthought.  

There will be more layoffs to come, just like in any company going through a downphase.


Now, Nigerians need to get over this Northern Agenda bla bla bla, and face issues that concern us. The fact of the matter is that anyone who believes this Northern Agenda bullcrap will never invest in the market cos they believe it is being rigged. Lets assume 30% of Nigerians believe that insidious lie. Thats an immediate 30% of potential investors out of the market. Another large percentage (including myself) will not want to get involved knowing that this 30% are not investing. More bear pressure on the market.

How damaging is Vanguards article potentially to the financial markets?

What if it is all a lie?

Does anyone still believe the Vanguard story? Hands up if you do.

[quote author=Paroh_frey link=topic=363553.msg5072003#msg5072003 date=1260277031]@POSTER

Please answer how you will deal with inflation if that figure becomes true![/quote]Good question. . . .

KnowAll:
Are you saying the Preso only earns N2m a year?

Im sure you mean monthly


Basic salary without any allowances.

Really?. . . . I learn a new thing everyday. . . . N2m a year is barely £8,000. . . . whoever set the Presidents wage should be prosecuted for abuse of labour  

KnowAll:
I am sure most Nigerians will be happy to get 1/20th of the Salary of the President which will be just under N100,000.00 per Annum considering Yaradua’s official Salary is about N2,000,000.00

Are you saying the Preso only earns N2m a year?

Im sure you mean monthly.

^^^ what is your retort to the evidence that all debtors were granted waivers. . . . drop tribalistic bla bla. . . who cares about Ibru?

naijaking1:
@Beaf
Good write up. I hope you could get Ibime, the one begging for his ND brothers to "think".

I urge all of you to think logically. . . . its embarassing to see a grown man falling for spurious unsubstantiated claims. . . . what is your retort to the evidence that all debtors were granted waivers?. . . . what makes Saraki's case different?. . . . this thread is dead on arrival. . . . anyone who swallowed the conspiracy should be ashamed. . . when Sarakis name was published amongst the list of debtors, you were on the debtors side. . . . now he has a loan waiver, Sanusi is roped in to a Saraki conspiracy. . . .I can as well list all the debtors and draw conjecture from any of them. . . . perhaps, one ND bigwig was amongst them. . . . soon y'all will be telling me that Sanusi is in a conspiracy with MEND because one ND bigwig and MEND sympathiser got loan waiver. 

naijaking1:
If you read the section in the original article where it said, Alabi was concerned about having many moles loyal to the former MD, and they're trying to clean house, why are you still stupidly asking how Sanusi is involved with laying workers off?

Any house divided against itself will surely fall.

hehehehehe. . . . . I did not know that Utd injury crisis was so profound, they had to recruit executive-types to play for them. . . . shouldnt this boy be in uni studying Business Management or something. . . . reminds me of Fernando Sanz, son of Real Madrid President Lorenzo Sanz who played for Madrid for many years despite the fact he was no good. . . .


http://news.bbc.co.uk/sport1/hi/football/teams/m/man_utd/8400860.stm


Injury-hit Manchester United have been forced to bring the son of club chief executive David Gill in as emergency cover for a mounting defensive crisis.

Oliver Gill, 19, has been added to the squad for the Champions League game at German side Wolfsburg on Tuesday.

It follows the news that defenders John O'Shea and Jonny Evans have been ruled out of action until January.

Boss Sir Alex Ferguson said Gill would not be given special treatment, adding: "If he is good enough, he plays."

hehehehehe. . . .

adebayo201:
no body wan gree enta here truly liver pull

I think Liverpool matchday thread should be scrapped. Theres no demand for it.

Assuming this gist is plausible, if Buhari is serious, he should put Fashola at the top of the ticket with Ribadu as his running mate, and not the other way around. Fash has more executive experience than Ribadu.

Yes Sir. . . . my bro-in-law just hooked me up with a ticket for tonights game. . . . lemme go and see what all those youngsters are about. . .

hehehehe. . . . . I no fit laugh. . . . when will grown men stop acting like malleable children, oft-given to rumours, innuendo and conspiracy theories.

To show the stupidity of picking stats in isolation, anyone who doesnt know that most of the debtors to the 5 troubled banks were given loan waivers must be living under a rock. The same Vanguard who reported on the across-the-board loan waivers is now picking Saraki's loan waiver in isolation to create conspiracies that will appeal to gullible minds. To pick Saraki in isolation (out of the hundreds who were given loan waivers) shows Vanguards agenda.

Why loan waivers, you may ask? Simply because the debts are not collaterised. Whose fault was that again?

Of course, Akingbola, when he gave uncollaterised loans to Saraki, never considered that Saraki may be an anti-consolidation force. I no fit shout.

Even Rasputtin sef dey validate conspiracy theory. SMH. I am so disappointed.

My ND brothers, abeg make una no dull unaself o. Y'all are the brightest minds in the box. Lets deal with facts and not innuendo.

And they say someone is causing loss of confidence. IMO, Vanguard Newspapers should be boarded up for posing the most hazard to the Nigerian banking industry.

Banks are not a socialist venture. No bank will keep employees it cannot afford, especially when they've been paying these employees with borrowed money.

Now, lets run through the rhetoric with regard to Naijaking's assertions. 

Naijaking has oft-alleged that Sanusi is a marxist/socialist.

If Sanusi was a socialist, then I am sure he will be putting pressure on these banks to retain their workers right? Thats what socialists do.

Instead Sanusi is concerned that the banks are running a tight-ship.

Margaret Thatcher, the poster-girl of right-wing capitalism was villified for instructing mining companies (amongst other cuts in the public sector) to cut their workers/production because coal-mining was simply not profitable anymore. Unemployment soared, and the miners almost brought Britain to a standstill. Years later, Thatcher is lauded for her strong fiscal policy and is credited with bringing Britain back from the brink of socialist ruin.

Likewise Sanusi says banks must get their expenditure in order. How can Naijaking explain the discrepancy between his labelling of Sanusi as a "socialist" and his "capitalist" actions?