₦airaland Forum

Guys, let's take it easy and be civil.

Otherwise ban button will be activated on this thread.

Thanks

Viewing this thread: Jarus

But unfortunately can't move threads to front page as the requests want.

If I was Adenuga or Aliko rich, I would own a jet.

Send me.

Fortunately or unfortunately, some of us cannot do without MTN. Can never change from MTN.

We've actually had Nigerian governors who promised(and likely did) not to govern on salary, but the problem here is they get 100 folds in 'other allowances', legak and illegal.

Misguided

Never speak ill of your former employer.

Fantastic adventure. Go ahead.

Me too go trek Ajah-VI one of these Saturdays. I don trek Badore-Ajah 3 times

Taiye is in London

Staff

fork adict: Reading through Dele Momodu's piece, I couldn't but make the following conclusions:
1. From, the title through to the last letter of the said piece, his mission was to slime Sanusi.
2. If this were not so, why did he not counter sanusi's economic policies with well thought thru and researched alternatives?
3. Is this not the same Dele Momodu who has in the past (even until now?) publicly identified with and even celebrated figures who have sucessfully molested the Nigerian state, her people and her treasury?
4. Even if I take Momodu's piece at its face value. SLS is a bully. OK. So what?
5. He also accused Sanusi of having a Presidential ambition. An absolutely unsubstantiated and irrelevant point unworthy of mention.

As for Oga Jarus.

1.You mentioned in the sixth paragraph of your piece, 'The currency redenomination proposal for all it's benefits......' Please note that sanusi's aborted introduction of the 5,000 single not is not redenomination of our currency as you put it.
2. How sure are you that if sanusi were to contest the Presidential elections, he would poll hundred times the figure dele polled at the last elections? That's mere speculation. He may and he mayn't.
3. I agree with you that Sanusi has recorded some remarkable achievements since he assumed office. worthy of note was his sacking of the 8 corrupt former bank CEOs. Corruption is the public enemy number one of the Nigerian state. The earlier we all realised that the better for us all.

Balanced and objective. No be only 'fork' you sabi

Welder: @Jarus,
Mightily disappointed in your conducts/utterances so far. Anyways, since you are so close to SLS; pray ask him about the authenticity of his involvement in the killing of Gideon Akaluka and his subsequent detention in some Sokoto prison.
Please revert with your findings.
Many thanks

Just another fabrication from Eghes Eyieyen. When I took Eghes(the guy that accused, without any evidence,SLS of involvement in Akaluka saga) on on it, he unfriended and blocked me from his FB wall. Very intolerant.

SLS had brush with Abacha, but it was due to his outspoken nature against him. SLS was part of Radio Kudirat, the guerilla radio fighting Abacha that time. Not in any way related to Akaluka.

superior1: Insult you ke?, ema binu sir . Serious, no offence meant

Ati forinjin yin

superior1: I am equally surprise, the guy has always demonstrated maturity in his comments on NL prior to this. Afterall Jarus is a known public commentator who has got the right attention from the right people. I guess i touched a raw nerve or something

Perhaps, it's the 'maturity' that makes me to ignore some things that gives you the audacity to insult me and expect to get away with it.

superior1: @ Jarus
Good one. You read me well.
Couple of months back, I was discussing with a friend, who like me also has a soft spot for SLS. I told him I'm somehow regretting becoming too close to SLS. Now, it's difficult for me to hit him in the public.

Blah, blah, blah... really?, you are that close to Sanusi?, hip hip hurrah!!!

On the currency restructuring proposal, I wasn't so convinced with the arguments for the exercise. It may not take away anything from the economy (it wont lead to inflation as widely believed), but the fact that it doesn't add much to it makes it something ill-advised to me. T[b]he coin part is especially difficult to accept[/b]. You can see I was unusually quiet in the debate. I was forced to call SLS and asked him to convince me on the exercise. He sounded optimistic and passionate about the exercise, but I still wasn't convinced, but I felt we can give him benefit of doubt. That was why I just pasted his clarifications on NL here and never made any further comment - because it was hard to defend.


So you agree his currency restructuring proposal (as you chose to call it) do not make enough sense for you to support it? but you felt like giving him benefit of doubt at the risk of our economy? you where silent because you felt it is okay for the guy to do trial and error with our economy?
Mr. Jarus, does this make any sense to you?, have you not read in the dailies where Economists who know better than you were criticizing this move?


That said, tens of articles have been written on this currency restructuring exercise, but I picked Dele's for response because of his reference to the sacked bank chiefs. I had wanted to reply Dele since I read an article he wrote in 2009 on the 'sacked 5', justifying the ridiculous. His reference to the same issue again actually ignited my response.


From your response above, you accepted being partial in your public assessment of the currency restructuring because of your friendship with Emperor Sanusi (abi be ko?), does that make you a fair umpire?, should we also conclude the reason you chose to attack Dele's article was to defend your friend (afterall friends are expected to defend one another). So why should we take your articles seriously? or[b] should we conclude you were just seeking Sanusi's attention for some personal gains?[/b]. I still maintain 'you are nothing but an attention seeker' so give us a break

There are economists that 'know better than me' that also supported it anyway. Ayo Teriba, Basil Emegwara etc

Well, you can see I ignored all your comments on 'attention seeking'. I don't need your attention actually, I get attention where it matters and from people that matter, not from nonentities.

Pukkah: It is only shallow people that will attack Sanusi on the basis of his place of origin except if there are facts that show otherwise, for example, if the Sokoto prison saga is proved to be true. I have never attacked Sanusi's policies from the prism of his tribe or religion. In fact, on this forum I have defended a number of his policies and condemned many others, especially his style and manner of approach. These had nothing to do with him as a northerner.

Be as it may, what is unfolding in the public domain with regards to Sanusi and the N5,000 saga, requires wisdom and introspection before lining up behind him. Although a budding and upwardly mobile young man, with no political affiliations or baggage, is free to defend Sanusi's policies publicly but he should reflect deeply before he starts to attack Sanusi's attackers and mentioning them by name. You also know that Nigeria is a funny country and much of what goes on is hidden from the eyes of the public. A purely professional or academic debate is different from one that has far-reaching political implications.

Half a word is enough...

Nice one bro.

I didn't know SLS from Adam. I never even heard his name until he was named successor to Jacob Ajekigbe as FBN GMD in October 2008. That was the first time he caught my interest.
I had actually been his fan before he became CBN boss. See this early 2009 thread: https://www.nairaland.com/248924/role-model-corporate-nigeria#3607203

I did extensive research on him and he came across to me as one fearless radical. The same way Pius Adesanmi claimed he did reasearch on him: http://www.nigeriavillagesquare.com/articles/pius-adesanmi/sanusi-lamido-sanusi-confessions-of-a-stalker.html

From my research on him, I realized I knew many things many Nigerians didn't know about him and most of the criticisms against his person were wrong. For example, until he began to make presentations on TV, many people didnt even know he was eloquent(even southern drop-outs see themselves as having intellectual superiority, all because he is a nothern 'cattle rearer', to use their words). Also, what I saw him write on some Islamic issues dont present him as an Islamic fanatic as people say of him(See his artcle: The Adulteress' Diary) etc. A lot of things I got to know about him were totally different from teh general perception about him. That was how I took it upon myself to try to clear some of the misconceptions. That was 2009.

Before our paths later crossed mid last year and he said he had been reading my articles on him, blabla.

My close interactions with him would confirm his much-talked-about integrity.

Close as I am to him, anytime our discussions get to career/job, SLS will avoid you!. Don't get me wrong, I never asked for any job from him, neither did I seek for any benefit, but in those periods when you let down guard and begin to talk about personal things, he always pre-empt favour, and avoid it. For example, when I told him I wanted to change job early this year, he avoided the talk, believing(wrongly), that I wanted to ask for his favour. But any other discussion, even football, he freely discusses this. This and many other things I have observed from him from close distance stamp what I had heard about him - personal discipline and integrity.

Now, is he always right? I will be back.

Ola one: I like Jarus and he always tries his best to avoid controversy, especially on Nairaland. He also displays commendable maturity in his posts and conducts on NL. He seems a man of impeccable character and I really don't want any altercation with him. I don't want to be seen as antagonistic or unpleasant.
But, I am sure Jarus himself would be the first to admit this: that he's biased in his posts on Sanusi and his policies. From the tone of his last thread on Sanusi, I discovered that Jarus wasn't happy with the proposed #5, 000 note and Naira coinage.
He was blunt about the coinage but, surprisingly, expressed support for the new currency. Even though, as a brilliant economist, he knew it wasn't necessary. He, however, chose to be diplomatic.


Dear Jarus, I am sure you know better and can certainly do better.



PS: I DON'T hate Sanusi

Good one. You read me well.
Couple of months back, I was discussing with a friend, who like me also has a soft spot for SLS. I told him I'm somehow regretting becoming too close to SLS. Now, it's difficult for me to hit him in the public.

On the currency restructuring proposal, I wasn't so convinced with the arguments for the exercise. It may not take away anything from the economy (it wont lead to inflation as widely believed), but the fact that it doesn't add much to it makes it something ill-advised to me. The coin part is especially difficult to accept. You can see I was unusually quiet in the debate. I was forced to call SLS and asked him to convince me on the exercise. He sounded optimistic and passionate about the exercise, but I still wasn't convinced, but I felt we can give him benefit of doubt. That was why I just pasted his clarifications on NL here and never made any further comment - because it was hard to defend.

That said, tens of articles have been written on this currency restructuring exercise, but I picked Dele's for response because of his reference to the sacked bank chiefs. I had wanted to reply Dele since I read an article he wrote in 2009 on the 'sacked 5', justifying the ridiculous. His reference to the same issue again actually ignited my response.

bittyend: The Op-ed by the Dele Momodu guy raised many points that need to be discussed. The rebuttal by the other Mallam(Jarus) is ridden with personal attacks, grammatical errors, and poor grammatical structure. I don't know why most Nigerians don't proof-read the articles they post in cyberspace. But hey, it's Nigeria and English isn't our first language; perhaps, that's why most articles on Nigerian Newspapers are not appealing to the average English speaker.

I take personal insults, even character assassination, but not attack on my grammar. I therefore invite you to point to the grammatical errors in my article - except where I used 'owed up' instead of 'owned up'(an error I realized that evening after sending the article for publication and corrected before posting on NVS and my blog). I expected Tribune editor to edit it anyway, but must have escaped him too. Thankfully, our English master, Ola one, is on this thread to moderate.

No.

http://tribune.com.ng/index.php/opinion/48092--momodu-abuse-of-columnism


Momodu: Abuse of columnism



Written by Suraj Oyewale Tuesday, 25 September 2012

Give me a good piece, nicely crafted in fine language and you have made my day. This is why opinion and column pages of newspapers attract me more than any other part of a newspaper. There are columnists in Nigeria whose weekly columns I have not missed for many years. I buy newspapers because of columnists and my good friends in Thisday will forgive me if I confess that Dele Momodu is the reason I stopped buying Saturday editions of the paper since 2010. There are a number of Nigerian columnists I don’t agree with, but that fact doesn’t stop me from reading them, but not Momodu. And the reason is simple: I can’t stand men that don’t stand for anything and will easily fall for anything.

The popularisation of the Social Media has given rise to a number of emergency activists in recent time. From Facebook to twitter, these pretenders are there, taking advantage of the public mood, pretending to be on the side of the masses. If Dino ‘Mike Tyson’ Melaye thought we had forgotten how he was captured on live TV shamelessly punching a woman co-member of the lower chamber just two years ago, then we can forgive Femi Fani-Kayode for suddenly finding his voice as a freelance activist. After all, it’s been more than five years that he has lost his national relevance and eagerly needs attention again. Malam Nasir el-Rufai, even if ahead of these fellows in terms of performance while in office, also needs to watch his twitter activities as his needless attacks on the current administration is becoming boring and worn out, and even in unmoderated cyberspace, decency calls for moderation.

But while the above mentioned emergency activists’ activities are more on the social media, Momodu, in addition to his thoughtless twitter postings, also has a formal medium, his Saturday column in Thisday, to himself to lecture us on governance and people. Until recently, Momodu hardly wrote on politics. His turf is entertainment and I have no business with that – that is his choice. Week in, week out, if Momodu is not praising Ghana, he is entertaining us with how he sat in the fourth row in Michael Jackson’s burial service, how he spoke with Mike Adenuga the night before, how he visited MKO Abiola in London, how he visited Siberia or Djibouti, how he fought during the Liberia war, or how he owned a Limousine. But the few times Momodu’s pendulum swings to politics and political economy, one wonders whether he would not have done better staying in his entertainment and photography turf. Among such days was Saturday, September 22, 2012.

Someone had posted an article entitled ‘The Bully called Sanusi’ in an online discussion forum without referencing the author. My quick googling of the original article directed me to Thisday website and I saw the article as Momodu’s. I had expected Momodu to do better this time round, given the fact that there is a very good case to disagree with CBN governor Sanusi Lamido Sanusi in his current proposed but now suspended currency restructuring exercise – an exercise I also hold is not well-advised. But rather than Momodu dealing with the substance of the matter this time round, he continued from where he stopped in 2009 when Sanusi sacked two of his celebrity friends in the banking industry. In an article he wrote in 2009, Momodu, while subtly admitting patronage from two of the sacked bank bosses for his magazine business, chided SLS for his kamikaze reforms. To Momodu, it is no crime to empty depositors’ monies, inasmuch as such looters patronise his photography business. After all, he saw no wrong in promoting Babangida and Abacha’s ill-acquired opulence in his magazine for the right prices. Thankfully, he did not find corruption in SLS’s baggage – the common denominator of all his (Momodu’s) patrons in both the private and public sectors.

Momodu wrote: “He (Sanusi) needed to disguise his real intentions and motives by taking on an entire institution and sacking otherwise brilliant bankers in the process”. Even after one of Momodu’s ‘brilliant bankers’ owed up to stealing the funds and judicially accepting to forfeit assets in addition to paying back N191 billion, to Momodu, the matter is still a case of witch-hunting and disguised motive. Whatever is Sanusi’s motive, Momodu should be bold enough to admit his benefactors’ thievery. That is when we can begin to take him seriously.

The currency redenomination proposal, for all its benefits, doesn’t sound convincing enough to me as well-advised, but Sanusi not getting it right this time doesn’t diminish the good things he had done in the past, especially instilling sanity in our financial system. So the old music of ‘hidden agenda’, as sung by the likes of Momodu since 2009, is faded and if Dele’s mission is to take advantage of the current public sentiments against Sanusi to revise history, he has failed woefully.

Momodu also made a veiled attempt to set Sanusi against his boss, President Goodluck Jonathan. Even though this is not new, as a serving Senator even made a more direct remark in that regard recently, the analysis is an orchestrated mis-read of events. If anything, the hesitation exercised by the President before finally succumbing to socio-political pressure to suspend Sanusi’s policy only shows the President still has confidence in the CBN leadership.

Expectedly, Momodu did not fail to lend his voice to the pepper soup joint talk about Sanusi’s presidential ambition. No serious media will take that seriously, because it doesn’t take personal knowledge to know Sanusi fares better as a critic than as a politician and clearly not the type that will climb the podium to dish out those lies called electoral manifestoes as it is done in this part of the world. Above all, he has never hidden his ultimate ambition in life.

In any case, even at the nadir of his popularity today, if Sanusi were to contest presidential election, he would surely poll more than one hundred times the miserable 26,000 Momodu returned countrywide in 2011!

He who lives in glass house should not throw stone.

Oyewale, a blogger and public commentator, lives in Lagos.

mbulela: it was an article where she claimed she had spoken to SLS and he had confirmed to her that there was no plan to move in on the earlier mentioned 3 and take over the banks. Less than 48hrs later, he did exactly what Ijeoma had written SLS told her he had no plan of doing and she had claimed were unfounded rumours. Wish i had the article's title. Used to respect Ijeoma but her arrogance in the face of that matter as she refused to apologise to her readers and her recent vicious attack on Otteh while putting up an infantile defence for Ndi Okereke made me give up on Ijeoma.

Ijeoma can be arrogant. She once had hot phone exchange with SLS, but she later apologised. She also once caused stirs in Tinubu's camp when she wrote an article finishing Tinubu.


On Ndi, I read the article, I don't think she was defending her, she only acknowledged her brilliance and the was she took on the House of rep guys. I agree with her Ndi got more swags, and perhaps brain, than Otteh

Gboliwe: I downloaded the PIT calculator you uploaded on NL and I'm blown! Big relief for a green horn like me. Thank you Sir.

I just want to ask how to apportion the basic, housing, transport and other allowances. Is it a random apportioning or there is a strict rule to this?

Since the basic salary is of this importance, how do I as an accountant help my colleagues in reducing their tax? that's why I need to understand the makings of this apportioning.

I will ask this same question on that thread just want to know the best way to go about it.

Thank you for ur time, I am grateful

The apportiniong is an internal policy and should be reflected on their offer letter or contract review letter.

It is hard now to plan the reliefs. The CRA is 200k plus 20% of Gross Emoluments. So clearly, it is dependent on total pay, the higher the pay, the higher the relief in absolute terms. However, if you load Basic, Housing and Transport more, your pension will be high and pension being tax-deductible, means you have more relief and less tax. But then, what you gained in tax reduction, you 'lose' as huge pension deduction(although it is still your money - only being saved for future), meaning there may not be much difference in net pay.

let's consider this simple scenario for someone earning 6m thus:

Basic - 3m
Housing - 1m
Transport - 0.5m
Others - 1.5m
TOTAL - 6M

CRA = 200K + 20% (GROSS) = 200K + 1.2M = 1.4M
PENSION = 7.5% * 4.5M = 337, 500
TOTAL RELIEFS = 1.7375M
TAXABLE INCOME = 6-1.7375 = 4.2625M
TAX =(7%*300K)+(11%*300K)+(15%*500K)+(15%*500K)+(19%*1.6M)+(24%*1.062M) = 0.815M
BALANCE IN PENSION A/C = 0.3375M
NET PAY = GROSS - PENSION - TAX = 6M-0.3375-.815M = 4.8475M

Now, if the Gross pay is restructured(apportioned) with less load in BHT

Basic - 2m
Housing - 0.75m
Transport - 0.25m
Others - 3m
TOTAL - 6M
i.e same income, different structure

We have:
CRA = 200K + 20% (GROSS) = 200K + 1.2M = 1.4M (wont change, cos it's dependent on Gross pay)
PENSION = 7.5% * 3M = 0.225m
TOTAL RELIEFS = 1.625M
TAXABLE INCOME: 6M-1.625M = 4.375M
TAX =(7%*300K)+(11%*300K)+(15%*500K)+(15%*500K)+(19%*1.6M)+(24%*1.175M) = 0.842M
NET PAY = GROSS - PENSION - TAX = 6M-0.225M-0.842M = 4.933M
BALANCE IN PENSION A/C = 0.225M

For same total income, when the BHT is loaded, he has less tax(caused by more pension relief), less net pay (chopped by pension deduction) but huger balance in his pension a/c (his future income). Vice versa, when BHT is not packed and 'other allowances' loaded. You may have to do some comparison in percentages before arriving at what option to settle for.

upengineer: How do i compute my TOTAL EMMONULMENT. My offer states my basic salary, housing, medical, overtime, and other allowances. Are allowances computed with TOTAL EMONULMENT?

Yeah, all the allowances are part of your total emolument.

mbulela: Jarus, SLS special adviser on NL matters.
You are too biased to proffer an opinion on this matter.
btw, you changed your number and did not say.
Called you all through the fast and subsequent sallah but your phone was switched off. Abi you go lesser Hajj?

No vex bro. Na my new coy give me new free line and I don dumb that one, though the SIM still dey. :Dgo get your no from one of my phones at home and get you my new number

I

mbulela: Jarus, don't go there o!
This man gave his word to Ijeoma Nwaogugu on some policy decision (around that Akingbola/Ibru/Atuche) and Ijeaoma went to down with it,sounding smug.
Within 24hrs, SLS justified the rumour in town and Ijeoma was made to look like a fool and with egg on her face.

I didnt get what you meant here.

I read Ijeoma very well and I know all the clashes she had with SLS and where she supported him. I even have personal emails from Ijeoma on Sanusi.

Could you expatiate further on the exact one you're talking about?

I know the most ferocious exhange between SLS and Ijeoma was in 2009 when Ijeoma wrote her series, 'Is it a crime to owe 1-3?' and another one she wrote 'Again, Sanusi overreaches himself'. She has also written many articles in support of SLS, including one she titled 'Sanusi: lone ball juggler?'