₦airaland Forum

It is baffling that it is only in countries like ours that policies are implemented without recourse to setting up standby measures to alleviate the suffering of those to be affected in the adopted action-plan.

On many occasions, one sees market shanties destroyed, roadside traders chased around, houses demolished, in cosmopolitan cities in the name of modernising and attaining a mega metropolitan status. The poor and hapless downtrodden in society are most times affected by some of these government policies. What complicates issues is when no alternative is readily provided before implementing those action plans. A scenario I witnessed at Leventis bus stop in Marina, Lagos state last week makes me to ponder, and I asked myself “Why are the already traumatised people in our society sometimes at the receiving end of government’s browbeating in the name of policy implementation?"

Last week, on my way to office, I saw some men and women scampering recklessly into the ever-busy CMS express road with their wares in their hands. Wondering what must have prompted this dangerous action, I curiously walked closer and saw officials of the Central Business District (CBD) of Lagos state and LASTMA running after traders confiscating their wares. Some of those whose wares were seized gazed, looking miserable, most of them shedding tears. One could see the anxiety and hapless situation these young men are relegated to; as if the whole world has suddenly crumbled on them.

Amid a high unemployment rate and harsh economy situation in the country, I don’t think taking away the livelihood of these young men is the best Lagos state government can do. Most frustrated ones among them may end up becoming armed robbers and engage in criminal activities. Lest we forget, the on-going revolution in the Arab world was triggered in Tunisia because state officials were in the habit of extorting money from a young university graduate, Mohamed Bouazizi, who shunned crime but chose to engage in menial work by selling vegetables on the roadside. The guy who out of frustration set himself ablaze had complained to public officers who paid deaf ears to all his entreaties. The same situation is what we are witnessing in this part of the country.

Again, this same CBD and LASTMA officials on Tuesday went to raid shop owners along Broad Street confiscating their goods packed in front of their shops. They started fighting some members of National Mirror staff who were watching them, threatening to descend on them heavily if they take any picture of their illegal operations. I believe Governor Babatunde Raji Fashola should call these guys, acting like touts in the name of working for the state government, to order.

When the likes of CBD, KAI, and LASTMA officials enjoy confiscating goods of traders and not provide alternative affordable market stall where these traders can trade in their wares, those frustrated after losing all their capitals may be forced to embarked on criminal activities. I wonder why can’t law enforcement agents be visibly stationed in fixed spots in streets to wade off potential offenders, instead of waiting till state laws are broken? Chasing after street hawkers and roadside traders in busy roads constitutes public nuisance and usually endanger the lives of these traders and even passersby.

Has anyone asked who takes custody of those confiscated goods? It won’t be far from the truth if one posits that these state’s officials are very more concerned with the volume of goods seized than keeping our streets free from these category of traders. By the manners in which they execute their task one would be forced to assume that Lagos state government have created jobs for these ‘voracious boys’, where bounties gotten from their supposedly official duties are shared among them. The same practice applies to state and federal officers on our highways, the like of LASTMA, police, Federal Road Safety Corps. These officers are of the habit of hiding in concealed spot away from unsuspecting motorists, but usually jump on them when they least expect.

Must public officers wait till someone break the law before they act? I believe those laws that created these government agencies should greatly emphasised, if it has not done so, that officers foremost duty is to prevent offenders from breaking these laws than arresting them and confiscating their wares or personal properties. Arresting offenders usually create a quick means of extorting money from them, and seized goods end up in their official personal usage. This shouldn’t be so.

[quote author=tpia@ link=topic=713647.msg8719179#msg8719179 date=1310679646]sorry.

please dont develop hypertension over people you dont know and will never meet.[/quote]Petepete t'ana ni popa Eni bataba, kolo mofe ni. [whoever is touched by the OP should make amends]

Tpia get a job. Stop slutting yourself to pastors and woolis

[quote author=tpia@ link=topic=713072.msg8719164#msg8719164 date=1310679518]change your meds, f.ool.

beast of no gender.[/quote]Talking to me or to the step father that molested you as a kid?

Dont get it twisted. Direct your anger at him, not me.

Ugly dirty Yoruba woman.

ode oshi! Adie funfun o mora e lagba

^^^[quote author=tpia@ link=topic=713072.msg8719106#msg8719106 date=1310679062]^^kindly stop insulting remi tinubu for no reason.

insult your female family members instead.[/quote]WHy are you still stalking my p/r/i/c/k?

I dont do angry black women, she na by force?

Free me jor? dirty skank!

Indeed, hell hath no fury like a woman scorned

^^^

Na you Biko Natasha!

Good job.

OAU baby?

Eko Ile:
This is so priceless and funny.

But[b] why put hand for back like houseboy[/b]? This dude is the president of a freeking country for crying out loud.

We are talking about Hillary Clinton here, not some unaccomplished imposed incompetent senator like Remi Tinubu

Can you compare Hillary Clinton to your mother?

Very few people can match Hillary's resume, and GEJ isnt one of them.

^^^

SO Odechukwu is a real name?

Wow!

DK, Enough respect! Enough respect!!

Agbalagba to ju agbalagbi lo

Haha, you are indeed ahead of your time.

Anyhow, Odechukwu = Head God of all doofuses

My stand is whatever Katsumoto thinks/says; If katsumoto is for Boko haram, i am for it. If he is against, guess what I am against

Just want to get along with you Naijaking!

nagoma:
You mean this Katsumoto thread is not concluded and SLS is still the CBN governor? Katz; I will advise you to find time in your very busy schedule to sit with Sanusi. You may persuade him to resign and then you can have some peace. Your resentment is perhaps of a more personal nature.

Seconded!

Katsumoto for CBN governor!

Only Katsumoto can do it. The All knowing GOD of NL.

The All seeing, all knowing God who sees all, knows all, and is capable of doing NO wrong in the eyes of many a million baby-Katzs

naijaking1:
Somebody needs to call you guys to order
Congratulations, both of you passed English with "A"s, however, the question is whether our CBN should be focused on raising chickens, baking cookies, and operating hotels?
Personally, I don't think it should, but Ola if you know of any other country worthy of our emulation whose central bank enagages in this sort of retail commerce, please educate us me.

Katzumoto c/o/c/k-sucker:

So if there  are other CBs "raising chickens, baking cookies, and operating hotels." then SLS is Brilliant, but if there are no other examples, SLS is mediocre and over-hyped?


Maybe you should start by telling us where SLS stated he is interested in "raising chickens, baking cookies, and operating hotels."


Impressive!

Professor of Hydroponics,

How was your talk?

Did it go well?

nellaluv:
So busted! ha

Omo you fine oooo
what is that liquid between your legs, on the floor?

ola olabiy:
derail, how?

Standing up to our all knowing, google toting Katsumoto eh?

Dont do that!

OAM4J:
@Ola

Am not an economist, but If I get you right, are you saying nothing stops CBN from engaging in commercial activities? So CBN can open its own commercial banks too, set up its own construction companies, Agric farms etc and still remain an unbiased regulator? Some ends dont justify the means and you dont have to be an Economist to know that.

The govt is running NITEL alongside MTN and GLO, any problemo?

The govt ran NICON before it sold it/divested some of her shares


And yes, the govt can go into any sector, run it and make more money for us .

The reason the CBN wont be able to do that :

1) The CBN has a lot on her plate already

2) Govt is bad at running business, so it would be stupiddddd for them to run a business if they do not have comparative advantage.


So why would CBN running any sector not bad?

Because this is democracy, the government would have to run the business under the same rule and harsh economic conditions as other private businesses. Failure to follow laid down rules would and may land them where they do not want. No govt likes to be sued, so they have to play by the rules.

This is democracy baby,  ( RULE OF LAW COUNTRY) we are no more under Abacha. The government is your friend.

They are under the same rule as the rest of us.

manny4life:
Again CBN cannot perform the jobs of other people; CBN has a job, so does finance ministry and treasury department of the Finance ministry has a job. [size=18pt]CBN cannot generate revenues for the govt, that is the jobs of the finance minister; seeking new and improved ways to generate revenue.[/size] That's why they are called the Govt Accounting office, that is their job not CBN. To my understanding of the profit sharing system, whatever profits a federal reserve bank or CBN generates from it's market operations, a portion of that money goes into federal treasury and not the way around, federal treasury going to CBN

The Ordinance conferred on the Ministry[size=18pt] the responsibility for the control and Management of the public finance[/size] of the Federation

http://www.fmf.gov.ng/index.php?option=com_content&view=article&id=60&Itemid=54

Me i no kuku see revenue generation for hia ooooo,abi i dey craze ni


Professor ola, helep me read that website oooo


What do I know, after all, Katsumoto na de BABA.

Katsumoto, The all knowing GOD of NL.

SEFAGO, show face, stop lurking

ola olabiy:
I am waiting  

DOnt mind all this run of the mill economists

We sef wey we no read more than WAEC econs 'key points,' we sabi stuff better than them

"Lamido Sanusi- Brilliant, over-hyped or Mediocre?" WHat a clown!

manny4life:
I was banned by spambot for reasons unknown but hey here I am again


@ Ola

The feds do engage in for-profit venture; Open market operations that deals with securities not commercial operations like building hotels and motels and fish farming or trying to trade commodities.

It seems you have a better medulla oblongata than the OP, so i will engage you a lil, eventhough i see you econs guys as mostly ediots.

So what is bad with the CBN trading in commodities?

There are two ways to look at it, either as the CBN trading in this commodities on behalf of the FG or as CBN doing so by itself, either ways, whatever revenue is generated goes into the FG account, not into SLS's account?

In a way, just another Nitel, phcn, nnpc etcetera ecetibajeeeee.

The point here is that, unless you are able to prove that there is something inherently wrong with the FG trying to increase her revenue, you have no argument here.

Anyway, unlike what the air-head, bimbo chasing, 'stalkerama', perverted OP would have  us believe, this is the real job the CBN was saddled with:

http://www.cenbank.org/out/publications/bsd/1991/cbnact.pdf

So far, according to the link above, SLS is still within his bounds.

Just because it is not done in your USA  doesnt mean it is bad, as long as the FG/CBN isnt engaging in bad business practices, it is very hard to fault this move.

Who knows, SLS might just be ahead of his time. Maybe, this is SLS's Nobel winning move

Not everything is written in the book. You read the book, but eventually you have to use your head. people wrote the book, it can always be re-written or updated depending on the circumstance.

[quote author= katsumoto oloriburuku oloshi ]Sanusi [size=18pt]had only been a banker for 12 consecutive years[/size] before he was nominated by Yaradua for the position of CBN Governor[/quote]Lies, lies, lies and more lies  from our infallible OP a la katsumoto

His experience—Mr Sanusi has worked for more than two decades in the Nigerian banking industry, becoming managing director of First Bank of Nigeria in January 2009—and reputation for strong corporate governance and conservative risk management make him well suited to push forward with the reform of Nigeria’s booming financial sector, notably the tightening of banking supervision.

http://www.economist.com/node/13809039

The great Katz has finally forgiven Ola

Ola, now go and SIN no more.

No more debunking Katz baseless assertions, lets all get along while hailing the greatness and the infallibility of the one and only Katsumoto who, unlike the rest of us, knows ALL.

The all knowing Katsumoto. LOL


SEFAGO, please come help me HAIL Katsumoto!

ola olabiy:
Katz, we are friends on this forum. And, you know how much respect I have for you.

But, it doesn't mean we can't disagree because you seem annoyed right now.

I hope you see things this way and I hope this Sanusi issue will not drive a wedge between us.

[size=18pt]I am sorry for whatever I might have done wrong[/size]

Quoted for posterity.


@Katzumoto,

Seriously, I wan do some jas. iwo bobo yii le gan shaaaaaaa

if you cant beat them, JOIN them.

Show me the way to the BABA wey dey do this thing for una.

You can do no WRONG on NL. This is unbelievable. Even though you are g/a/y/, NL women, single and married, still fawn all over you like sweeeeeeeeeet.

Like seriously, who is the man wey they do the 'aseje' for you? me sef wan eat some 'aseje' ROFLMAO!

Am I the only one who thinks Katsumoto is an ediot?

Wow!


I am actually impressed that everyone bows to Katsumoto, even Ola olabiyi.

Wow!, interesting!

Only Kddrim and I see it differently

Katsumoto baba, you don kowo je for NL.

haha, this one pass juju. Who ever is doing it for you, please can i have some?

I hail oooooo, Katsumoto

Even after Ola olabiyi proved you wrong, the guy dey prostrate for you?

The baba wey dey do am for you, me sef I get interest ooooooooooo

WOW!

All hail the great KAtsumoto

ola olabiy:
You are funny, mate. Do they all have to own the same type of businesses? The fact is they have Limited Liability Companies as well. And, they make profit like private businesses.


The main thing here: Limited Liability Companies.


That's that.

I bow ooooooooooooooooooooooooooooooooooooooooooo

GEJ is not fit: debunked

GEJ ony knows about Sharia : debunked

CBN/Sanusi is overstepping his bounds : Debunked again

Whatelse is the OP going to come up with:

Lets guess:

Sanusi is Gay?

Sanusi Doesnt live in London?

Sanusi is a coward for presenting himself for service?

Air-heads calling themselves intellectuals

Thank you jare ola Olabiyi, Say hi to Dele Ashade and Frank for me

[quote author=ekt_bear link=topic=710377.msg8699073#msg8699073 date=1310448393]I'm comparing him to an[b] absolute standard of what a CBN head's job qualifications must be[/b].[/quote]Standard? What standard are you talking about?

Educational?

Work Experience?

Tribe /ethnicity?

The point here is that the notion that there is an absolute standard that must be met by a CBN governor is hogwash?


EVen in the US, what standard do you think thses people met before they were appointed Fed Chariman:

Greenspan Vs. Bernanke

Even with the god-like status of Greenspan, the economy went down under his watch. Does that make him incompetent?

Now compare those two with Larry Summers ( Was supposed to be Fed Chairman before Obama changed his mind), an eccentric lucky rabble-rouser.
Compare his speech here to that of Sanusi.

http://ceoworld.biz/ceo/2009/03/13/lawrence-h-summers-on-the-crisis

Yet, he is fit to be the Fed Chair and fit to be appointed the Economist of the world bank

We need to stop chasing shadows.

What they must know and understand. I am not comparing him to the previous job holders, but to this absolute standard.

What exactly is the absolute standard you are talking about? Spit it out!

I am not convinced he knows any more about economics than your typical college econ grad from a good school with a few years of work experience.

Milton didnt know more than that before he was granted a Nobel. you know why Krugman got his Nobel prize? Not for something fancy, and yet his name was thrown around for the fed job.

It is never about what you know, it is more about using what you know to advance the plight of the people. James Watson discovered the double helix not because he knows more than Linus Pauling, he knew less actually, he was just able to stay long enough with the problem.

The most important thing is that he understands the Nigerian problem, that is good enough for me.

Awolowo was boss of the CBN during the Civil war, even though he was a lawyer by training.

Clinton, the next World bank chief, knows less than "your typical college econ grad from a good school with a few years of work experience."

Maybe we dont need economists to run our central banks per se. Anyhoo, SLS knows enough to run the CBN, at least more than Awolowo and Clinton.

This is essentially what he was before he became promoted to CBN head. And that is simply not enough.

Lies and half truths.

His experience—Mr Sanusi has worked for more than two decades in the Nigerian banking industry, becoming managing director of First Bank of Nigeria in January 2009—and reputation for strong corporate governance and conservative risk management make him well suited to push forward with the reform of Nigeria’s booming financial sector, notably the tightening of banking supervision. However, Mr Sanusi is expected to maintain the overall thrust of policy established by Mr Soludo during his five-year term

http://www.economist.com/node/13809039

Nuff said.

First, we have no clue if he really even "out-competed" anyone to get into ABU.

Well, I know that for sure. There are more applicants than space. ( 10000 : 1, candidate to space ratio) Go figure.

Second, yes. If you come on YIM I can point you to at least one person I know in RL who today is probably at least as qualified as Sanusi is be the CBN head of Nigeria.

I thought one of your criticisms of SLS is his lack of significant experience

So not knowing "any more about economics than your typical college econ grad from a good school with a few years of work experience" is good enough for this person, BUT NOT FOR SANUSI?

You see the contradictions in your statements.

Very obvious that this is personal, just like the air-head OP.

And this person I know is still very early in their career. . . in fact their career has just started.

This is what you said to discredit Sanusi:

[quote author=ekt_bear link=topic=710377.msg8699073#msg8699073 date=1310448393]I am not convinced he knows any more about economics than your typical college econ grad from a good school with a few years of work experience.[/quote]?

Sorry, I guess i wasn't specific enough. Yes, this is an article that talks about economic data for Nigeria. But what about this demonstrates that he has a clear mastery well beyond that of a lay person or typical econ undergad? What analysis, insight, explanation, etc does he bring to the table?

You kind of see what I am saying, right? There is nothing exceptional about that writeup, nothing that makes it obvious that he is an expert.

I see it differently.

Anyway, here is another one:

http://www.nigerdeltacongress.com/karticles/kano_political_economy_reflectio.htm

I doubt you even read the last one.

[quote author=ekt_bear link=topic=710377.msg8698958#msg8698958 date=1310444877]Even if it were the best econ department in the world, that wouldn't change the point being made about him being under-qualified. I don't think it'd make sense to hire even an econ degree holder from Harvard as your CBN governor, unless he has substantial work experience and shows that beyond a shadow of doubt, he is a master of his domain. Sanusi has not done this.[/quote]Under qualified in what sense? What does that even mean? Who are we comparing him with? The older Sanusi, Paul or Soludo or Adamu Ciroma?

And what do you mean by substantial work experience? where was Soludo before he became the CBN governor? They cant all work at Goldman Sachs or Lehman

We have at least a[b] few qualified Nigerians available[/b]. Why not make use of one of them?

More qualified than Sanusi? You mean those he out-competed to get into ABU? I dont get it.

Can you show us anything Sanusi has written on economics? I looked and couldn't find anything. Perhaps you can show us what you've found.

You mean non-interest banking and sharia banking isnt economics? you have to analyse his articles within the framework of what he is doing? people like Alan Greenspan did not write much, they just followed already laid down principles from people they studied in books.

Anyway, this is one I saw way back:

http://www.bis.org/review/r101210e.pdf

And if you go to Gamji, there are tons. You just have to stay awake while reading it.

naijaking1:
https://www.nairaland.com/nigeria?action=profile;u=706637

Like you, he has less than 200 post, no picture, email, or anything
No wonder you don't want to talk about the issue raised by the poster, instead you want to intimidate him, call him names, and possibly change the topic. Sanusi defintely hired the wrong set of praise-singers here. Very incompetent people like himself.

I am responding to you because of the respect I have for you.

So this is the issue here, it is not about me or about Kbdrim. This is about being sincere and honest  with your criticism. The thread was started from a very biased POV, very misinformed too. There is nothing objective here; right from how he characterized SLS to him comparing his academic achievement to that of Bernanke to stating that he does not have any test taking history as if IQ test is part of our culture in Nigeria. He also said that  the pool from which our CBN governors are taken from doesn't represent the best amongst us. What pool I ask?  Pretty much, he has maligned the academic achievement of this gentle man who by what we know about him is one of the finest and most articulate and if i may add, one of the smartest in Nigeria. fter all, ABU has the best economics department in West Africa. You can quote me on that.  I really dont have the time to break it down to the OP and you why I think SLS is way better than any foreign based Nigerian the OP might be thinking of. I make bold to say that, pound for pound, academic achievement for academic achievement, available resources for available resources, everything else considered, SLS is way better than even Okonjo Iweala or the Op's father, if his father is anywhere as accomplished as SLS.

No one is here to intimidate the OP, he is perfectly fine to criticize, but do it fairly and transparently.One who comes into equity must come with clean hands.That is all  kdcrim is asking for, which is not too much IMO.

This topic has been beaten to death, especially the Jarus Vs. Davidylan thread on the same topic. Jarus, a First-class graduate of Economics from Oba Awon University (OAU) did a better job than the OP, because he understands the issues at hand, the different school of thought in economics and finance and the deep understanding of the role of SLS at the CBN and within the broader economic goals of the current administartion. He did it humbly in support of SLS without any showboating. The OP on the other hand is trying to exploit the general lack of deep understanding of economics by the so called educated people like you to malign the character of the good mallam while not telling us who he is and what is father has achieved relative to SLS's achievements.

Only a coward would do such.

He even said that SLS hasnt written much of hard core stuffs besides his article on islam and sharia. Talk about laziness and lack of due diligence.

If you want to make this thread about Kbdrim , go ahead, but Kbdrim is not the one challenging SLS policies or academic achievements. It is the OP.


PS: As far as we know, the OP is not a first class material like Jarus baby,  not even a second class material. So what credibility does he have to criticize someone who is miles ahead of him and even mega-miles better than him or anyone close to him.

Hmmm.

OAM4J:
Is there a particular reason why you are more interested in his person than the subject? Did he tell you he is a public social critics or that he is looking for popularity. Why not focus on the message and leave the messenger alone?

You can never separate the message from the messenger.

The messenger frames the message. Without the messenger, there wont be any message. Think about it.

The message and the messenger are extremely interwoven. Separating them would be like trying to separate the mind from the brain. Impossible.

OAM4J:
Is there a particular reason why you are more interested in his person than the subject? Did he tell you he is a public social critics or that he is looking for popularity. Why not focus on the message and leave the messenger alone?

I think it is unfair for you to try to intimidate the poster because he is challenging the supposed "saintly" facade of the OP. You should be neutral in this situation. The poster, Kbdrim, has raised a very important question, let the OP answer if he has nothing to hide.

You bumping in to intimidate him at the request of the OP is just unfortunate.  You cant be the accused and the judge at the same time. Pick where you belong. Instead of intimidating him, just ban him already. It wont be your first time.

The last time I checked, the OP does the same thing to people. I am not surprised though, you seem to see the OP as some sort of infallible character beyond reproach.

I hope there is something you know that the rest of us do not know. One day, we will all find out. Hopefully, the OP you are so eager to defend doesnt turn out to be a pe/do/p/h/i/l/e or some discredited/discreditable stigmatized persona like that. I am not saying the OP is. Just thinking aloud. After all, Eddie long was anti- G/A/Y, but now we know better.

Until then, I repeat, those who yell have the most to hide. Not all that glitters is GOLD.

Isale oro is always full of 'egbin'

naijaking1:
Please somebody let me know when a reasonable fellow comes up with a point, no need to justify these childish diversionary tactics with a response, and I hope [b]Katsumoto[/b] doesn't either.

How salty is the Katserade? Must be damn soothing to your behcet's. LOL

Very unfortunate for the Yorubas

Junior ministers.


:::SMH:::

Hmmm, the beginning of the end of Yoruba relevancy in naija politics.

kbdrim:
@ poster, My problem with southerners from Nigeria is that they have no guts whatsoever. you can have all  the degrees from the ivy league universities in the world, without guts and courage IMO, It amounts to nothing in Nigeria, That is why you find the likes of aganga cower b4 the senate inspite of his so called credentials. Mr katsumoto seemed to have so studied SLS that he has become an encyclopaedia on him. He comes to nairaland where he can hide his identity and spin all the knowledge of micro/macro economics just to discredit SLS, If he disagrees with CBN policies, As an intellectual, there are academic forums where fellow professsionals can argue your points but no he chooses nairaland so he can appear to be intelligent to people who know little or nothing about the subject and are likely to go with their emotions. We have had the likes of olu falae, kalu idika kalu and many technocrats over the yrs in Nigeria, Nothing happened with these folks, while Time people, Financial Times of london have all honored sanusi, we have a spin doctor with no identity claiming to know more than these folks. If you know your onions as you are claiming, let us have your own resume and your publications in International journals and then you can go to forums where fellow professionals can argue with you. The failed banks and financial institutions across europe and america were maned by ivy leaguers with resumes as long as textbooks, i would exchange all those CV's with honesty and guts in Nigeria, And by the way the united states is still in deep poo wit its economy even though they have ivy leaguers as head of their regulatory agencies, [size=18pt]So Mr katsumoto, we know your motives, stop stalking SLS, get a life[/size]

Mr. Katsumoto needs to go su/ck some POOOOSIE, instead of stalking people all over NL .

What a coward.

Stalker of the highest order.

It is the people that yell that have the most to hide.