₦airaland Forum

I think it was a good attempt.

Sam Egwu has failed as the minister for education. He should hide his face in shame and resign honourably;afterall, he has looted more than his fair share of the national cake,he has nothing to offer this nation.

If he was put on sale in the market,I dont think anyone would pay =N=20 to have him(maybe his family);so y the hue & cry? Same with the other minister, who will buy?

They are both looters;it would have been nice for them to give back to the society forcefully through the kidnappers what they have stolen from the national treasury.

Na God save them;useless men!

Mallam Sanusi is definitely full of intrigue, he has finished with 'cleasing' the banking sector, he has moved on to changing naira notes!

My question: Is it not going to cost us quite some money to print the new notes?! What do we need them for?

Is that the problem of this country now? Spending money unnecessarily when there are more burning issues like undergraduates being at home for over three months(ASUU & FG deadlock),no light,NUT has also gone on a permanent strike;almost everyone in this country is on strike,yet we are wasting tax payers money to print new notes!

This government sure has their priorities all mixed up!

Worsestill,none, not even half of any of the seven point agenda has been achieved.

How sad!

I thank God that we all know the IMF dont mean well for this nation or any other african nation for that matter.

I wonder who they think cares if they endorse CBNs actions? They are a shylock slavery inclined body, ready to feast on any African nation that allows them to;they were there 92 American banks failed, what did they do about it?
The earlier they know they are worth nothing around here the better.
Like we have all rightly said, we do not need their endorsement,they should take it elsewhere,their antecedents are nothing to write home about.

As for the CBN governor, he has started changing currency notes already,the harm he has caused the banks he is yet to find a solution to it with his hasty,ill thought out,crude intervention;his intrigues seem not to have an end in sight!

I wonder when he would finally tell us what became of the 14 other banks he audited,or are they all 'sound'? What a laff!

At the end of day, we wait to see the 'faceless' foreign investors he wants to sell Nigerian banks to; he definitely thinks he has us fooled with all his antics,imagine Chinese slave drivers who only want to rip off people are the ones Sanusi Lamido would even consider selling Nigerian banks to,yet we are 'rebranding the nation'!

What a shame!

The truth is I dont blame even people from Niger or Sudan coming to buy the banks; afterall,our dear CBN governor has sold us cheap to the rest of the world;there is nowhere in the indigenisation act of Nigeria where foreigners were given 100% license to take over any company;besides,if the chinese want to own any bank, why not float their own with 25billion?These are people who repatrate all profits they make in business here in Nigeria back to their country.

Why do they want to reap where they did not sow? There are several chinese companies operating around us here,the nigerian staff are all treated liike slaves & paid peanuts.

Sanusi Lamidos' controversies seem not to have an end in sight;the worst part of his problem is that he talks from all sides of his mouth, has told several lies in the wake of this mess he created;only God knows who he actually wants to sell these banks to;but he cannot succeed without carrying the real owners of these banks along,i.e. the shareholders.

So I advice the CBN governor to stop the globe trotting & look for a way to clean up the mess he has created in the countrys' economy;afterall tax payers money he went to waste in UK, no one wants to buy from there,does he think Britons are dumb?
Its only a dumb foreign investor that would wade into the murky waters Sanusi Lamido has plunged the banking sector into.

And most right thinking Nigerians know that this action he has carried out was based on deep rooted tribal, ethnic & religious as well as political sentiments,its not because he has the interest of this country at heart;he was in a hurry to 'cleanse' 5 banks yet he has refused to release the audit of the remaining banks, why? Because they are 'sound'?

What a laff, Sanusi is full of intrigue & drama, he would definitely receive an award at the end of the year:-

'SELECTIVE CLEANSER & DESTROYER OF THE NIGERAIN BANKING INDUSTRY',

Well done Sanusi, you have done the northerners and yourself proud!

Well, having read most of your views I choose to see Cecilia Ibru as:

1. The amazon of the Nigerian banking industry who has given jobs to thousands of Nigerians, and by extension has fed thousands of Nigerian families(which if I am not mistaken some of us who are writting negatively about her are beneficiaries),moreso, the creation of employment happens to be one of the govts agenda,I am happy to announce to you that they have not yet been able to give any meaningful jobs to Nigerians, millions of Nigerians remain jobless! They are busying themselves with the business of looting & casting stones where they are also guilty!
2. A woman who has contributed immensely to development in this nation by way of:Adding school blocks to several universities,buying computers for schools, buying mass transit buses for states, giving to the tune of millions to NAPEP(I overheard NAPEP staff thanking her for giving over 66m),being a joint stakeholder with several state govts in providing infrastructure for the people of different states; as well as giving millions to Yaraduas campaign that saw him become president(even though himself acknowledges the election that made him president was severely flawed with rigging!), for these and a lot more I have not mentioned, Nigerians remain indebted to her.
3.I see her as a courageous woman, who was not given fair hearing, neither a chance to defend herself, was incarcerated for a month without cogent reason,but thanks be unto God, she has been set free to the shame of all her detractors.

Cecilia, you are an embodiment of what many young Nigerian women aspire to be, God has been with you from the begining & will continue to be with you, no amount of witch hunting & selfish cruelty from those you have helped to stand(including the government & even the president himself) will change our minds about you, because we know that Oceanic bank was not illiquid, neither was it insolvent before 14th August 2009.

Thank God Vanguard newspapers predicted this since March,many of us have not been deceived by all the malicious lies & write ups without truth that have been making the rounds about you(coming from the mouths of people who have looted this country blind and are still looting!), we know better.

I have always said it & will continue to say it:Yaradua had no buiness employing Sanusi Lamido as CBN governor;a man who studied Islamic studies in Sundan, his total banking experience if I am not mistaken is not up to 5 years, yet we have seasoned bankers who have over 30 years experience,they were not good enough;he was the only 'seasoned banker' in the eyes of government,what else were Nigerians expecting?!

Even when people raised the issue of Federal Character, the president shut his ears and brought in their hatchet man to destroy the banking sector in the form of 'selected cleansing', yet worse banks are still standing, eg Unity Bank and the same CBN says the remaining banks are 'sound' what a laff!

Sanusi has ended up eroding public confidence in the whole banking sector,both home & abroad, from all the comments he has been making in various interviews he has granted after his 'selected cleasing',his actions were guided by deep rooted, ethnic,tribal & religious sentiments; afterall, he has also said that Islamic banking is the solution to Nigerias' banking sector problems, when Nigeria is not an Islamic country.

For me he deserves an award: 'The Banking sector destroyer for the Year 2009'.

Kudos, CBN governor, you have done the Northerners proud!

The FG of Nigeria is a complete fraud.

I wonder who they are deceiving,they say education is one of their seven point agenda,yet see where education is, comatose!

It was very easy for Yaradua to okay the pumping in of 420billion into private banks that didnt ask him for money(without appropriation),yet our lecturers salaries have been stopped, the youth are roaming the streets,not knowing what to do next, and the devil has been using some of them to do his dirty jobs because they are idle;and the president is not bothered about it(Moreso none of his children are in any of these schools);Yaradua and his government certainly do not mean well for this nation; yet he wants a second term.

The salaries of our lecturers who have studied up to the level of becoming professors can only tell you that value is not placed on education in this country;in the midst of all these, what can we say?

We pray that God will talk to Yaradua, so that the same way he went and pumped 420billion without being asked to do so in the banks, he will see the urgency to deal with education,once & for all;we are tired of the misplaced prorities of this government.

It is well with Nigeria.

Mallam Abudullahi of CBN is speaking for himself & the CBN,not for all Nigerians,there was no due process that was followed in the axing of the mgt & CEOS of the sacrificial 5 banks,he cannot tell us that there is no other bank that is terminally ill, what of UNITY BANK, that has been long dead even when Soludo whom they are trying to discredit with their actions & comments was still CBN governor?

Even this minuite, that bank (Unity bank)is 'comatose', and because it belongs to the North, they have let it be, many of us know that there was a lot of politics involved in the sacking of those 5 bank MDs, it didnt follow the rule of law, neither did it follow BOFID rules, suddenly, the same CBN that seemed to be in a 'hurry' to sack MDs now wants to follow due process before releasing results, who are they decieving? Certainly not me!

We Nigerians crave their indulgence to release the reports so that we can know the true status of all our banks, we are tired of the drama in releasing this report, the meal is sweeter when served hot & sizzling! Even though we know they have hidden the true position of some of the banks, because they have hit their target with the 5 banks they have dealt with in a hurry!

[table]''One funny thing about we Nigerians is that we are critics and this quality has contributed to checkmating our leaders and governance in a great way. But the question we need to ask ourselves is that; Are we JUST in what we comment on? Because going through what people are writing, i can see a lot of tribalistic approach. Regardless of who is taking which act, the moral question that needs to be asked is that; IS HIS ACT JUSTIFIED IN A MORE NEUTRAL WAY? Let us assume Sanusi Lamido is tribalized, but among the five(5) banks in question; has any of them defended these allegations of fraud?. If NO, then we can say Sanusi Lamido is helping your future and your fund which you assumed is safe by 50% and is also representing the interest of Hausa/Fulani by 50%. From this, one can deduce that the economy of the country has been courageously protected by 50% which to my own knowledge is welcoming for a country which is as corrupt as Nigeria''.[/table]


I have quoted the above paragraph from (Visityamus') write up;if there is anybody that is being tribalistic,its the CBN governor,Sanusi Lamido.
Secondly, I hope you know that the five CEOS in question have not been given fair hearing(they have been locked up), so how do you want them to defend themselves? Its only the CBN governor the whole world has been hearing from, we all know that every coin has two sides, we have been hearing only one side.
Thirdly, reverse the roles, say all 5 MDS are Northerners,the CBN governor is a sountherner, I tell you Nigeria would have fallen apart now,the Northerners will definitely call it an agenda to remove all Northern MDs; and to think that Soludo wrote off 75billion from the books of Unity Bank during his tenure quietly,no one heard about it, yet Lamido has been very 'loud' about his actions, even taking it personal, this same Unity bank has not recovered! it is still in red!Could it be because the bank belongs to the North & the MD is a northerner?

If Sanusi truly wants to cleanse the sector, is there any bank standing today that is worse than Unity bank? Even these '5 sacrificial lambs' are far better(infact you cant compare!);lets tell ourselves the truth,Unity bank is dead, but Sanusi let it be, for reasons we all know:-It belongs to the North.

So why on earth should I support his actions?!

Any well meaning Nigerian will see the wisdom & deep truths contained in Mr. Fasehuns write up.

Lets leave ethnic sentiments aside and ask ourselves these questions and answer them in all honesty:

1.The sacking of 5 CEOs by the CBN governor did it follow the rule of law & the provisions of BOFID?
2.Why was the 'cleasning' done piecemeal? Why not wait to deal with all the banks once & for all after all audits have been concluded?
3.If this issue was not 'pre-planned', how come it was predicted in vanguard newspapers in march?
4.Why would the CBN governor be advocating for 100% purchase of our banks by foreigners when there is no such provision in the indigenisation act?
5.How come Unity bank of nigeria plc is 'comatose,yet it still stands? Could this be because it is owned by the north?Because a CBN staff was quoted last week to have told Thisday Newspapers that the remaining 14 banks are 'sound' how so untrue!
6.The shareholders of these so called distressed banks(who are the actual owners of these banks), why were they ignored completely?Because that is also a breach of CAMA!
7.The CBN governor has been inconsistent about his source of 420b;first he said it was equity;then he said it is a loan,again he said it was printed;in either of these scenarios, why should the CBN governor who was appointed take the laws of the land into his hands? If it was printed like he told the house of reps,a.Who authourised the printing?b.Who signed the expense, because to print that amount of money,you would have to spend some big money too.
8.Why the rush to do all these when the result of other banks audit have not been released?
9.Can we truly say the nigerian economy is the better for the actions of the CBN governor? I have been authouritatively told that a terrible fuel scarcity is about to hit the nation because banks have refused to extend credit to petrol dealers,thanks to our dearest CBN governor, who will benefit from the scarcity eventually?
10.Why would the CBN governor be granting all sorts of interviews in the aftermath of this issue,fanning the embers of disunity & tribal sentiments,to the extent of saying that 'Islamic banking is the solution to Nigerias' banking sector issues,when Nigeria is not an Islamic country?

I for one cannot but see the degree of malice,vendetta,tribal & deep seathed religious sentiments that guided the actions of the CBN governor, time will vindicate those of us that disagree with his actions because the truth is that the long run effects of these high handed actions will not produce any thing positive for this nation.

If the truth be told, the 'selected cleansing' of the banking sector was targeted at the five banks whose CEOS have been axed.

If not why would the CBN governor who feels he can do anything develop cold feet now? Having come this far in tarnishing the image & personalities of the CEOs of the first five banks,it would be totally wrong,unfair & devoid of justice to say the exact position of the remaining banks should not be shown to the whole world.
The CBN governor never followed the rule of law in the way & manner he went about this cleansing, why stop now?

I feel its too late for him to stop now; he should go the whole hog,besides these five CEOs remain incarcerated for allegations that have remained unproven against them, what injustice!

U see many of us talk as though we do not know that there are laws governing everything done in the land.

For empahsis on this issue:THE CBN GOV HAD NO RIGHT TO EITHER LOAN,PRINT OR GIVE EQUITY MONEY TO ANY OF THE FIVE BANKS;without ratification from the national assembly;whether the house of reps members are all frauds is not the issue;the issue is that the rule of law be followed & relevant acts,decrees concerning the decision of the CBN gov must be followed;you cannot claim to be doing the right thing following the wrong way to do it!
There are questions that abound even with his comment that he printed the money:
1.Who gave permission for the printing?
2.To print such money, u would also spend much money.who signed the expense?
3.If one man can wake up on his own and print 420b,doesnt that mean that the same man can also wake up& print billions and put to his personal use? Since he claims that he did not need any permission to do it?
4.According to the laws that established the NDIC & the constitution of the Federal republic of Nigeria,the NDIC, & not the CBN is empowered by law to take over failing banks, why did the CBN governor jump the gun if he had no hidden motives?
5.The BOFID states that these sacked CEOS were supposed to have been called & shown the audit report of their banks & also be given a time frame to regularize after which they would be sacked if they fail to do so;why where those procedures disregarded by the CBN governor?
6.The shareholders of these banks have been ignored totally by the same CBN gov,why?Are they not the real owners of these banks?!
7.Unity Bank of Nigeria Plc has gone comatose even when soludo was CBN governor,yet it still stands,because it belongs to the North! Sanusi Lamido has pretended not to know this,but we all know this, why the 'selected cleansing'?

The CBN governor has so much to do to convince a whole lot of us that he acted in good faith,and not out of malice,tribal,religious and ethnic sentiments if his utterances in the midst of all these are anything to go by.