₦airaland Forum

Big impossicant o. Since Barca is out, I'm shifting my support to Bayern.

SLS is an Arsenal fan, Atedo Peterside Chelsea. I remember when I did interview with IBTC in 2006. When I entered Atedo's office, guess what he was discussing on telephone? Chelsea's match with Tottenham the previous day. lol.

[quote author=Akanbi_edu]@ the bolded, LOL. If I were in the same position, I probably would dislike Nigeria more.

@Jarus, I think you should stop bothering yourself about defending Sanusi. If you understand the man well, you will notice he has gotten to a stage of self-assurance in life. People like that don't need to prove anything to anybody.[/quote]I get your point. I have actually stopped defending him. I do so on invitation now. Two of the first few posts here read: where is Jarus to defend Sanusi? That was a direct invitation.

You're very spot-on on his stage of self-assurance. He doesn't need to prove anything to anybody. I realized that much in my conversation with him yesterday evening. He was so dismissive of the allegations, so self-confident, so unruffled. More of the talk was on football(Chelsea/Barca match) than on what we set out to discuss - to show he wasn't so bothered about all that. He even said 'now, the easiest way to hit instant fame in Nigeria now to take up an issue with Sanusi Lamido Sanusi; now, everybody knows there is a Prof Dike in US' and I rolled into laughter.

Growing up, there were some terminologies we used in local, street football, which in hindsight, are funny.

Let's relive the memories here:

1, Ogirigbamila (when you use the wall to support your play)
2, Orey/ori (when the ball passes through the stone used as goal post
3, F'olohun s'ole (Use God as keeper, when nobody wants to be the keeper)
4, Ege irole/ Goal irole ( late in the evening, when the football play is almost ending, and players start catching fun with mockery dribbles and goals)


Can we list more? I know it depends on one's locality and language e.g most of the terms here are Yoruba.

Honourable you 'criticize' both, rather than rationalize the American's own. This is why I select people I debate with on NL. Many people will do the latter.
You may share a different opinion on the propriety of these guys doing these things, but I dont think there is anything wrong it. This is a dynamic job, not some mechanical routine of coming to office, attending meetings, issuing circulars etc.

The need to have time to sit on his desk/study, think through the economic challenges, look at inflation, monetary policy, exchange rate figures etc, is the more reason why he cannot be the one to be researching and preparing speeches. Yet, giving speeches on invitation, most of which, if not all, are official, is not far off from the expectations of an intellectual economic manager. His JD doesn't need to expressly state this.

I think we are overflogging the issue, especially on the use of official resources for such(after all, whatever he says can hardly be separated from the institution he heads)

A better argument, IMO, is that he should take the blame since he would have taken glory if it was a compliment.

Dapo, I think Wesley has provided the answer up there.

1, How many speeches will Sanusi prepare when virtually every other day he has one speaking engagement or the other?

2, He would not have been invited to be the Guest speaker at the convocation if he was just a Kano prince, not the CBN boss.

3, I dont think there is anything wrong in any formal material (as opposed to informal ones like email exchange with someone like me or you, or any other friend)that comes from CBN governor passing through his communications guys. He is talking on Nigeria's political economy at a public forum and surely whatever he says will be in public domain as CBN boss. Using his staff for that doesn't appear out of place to me.
After all, official PAs(on company's payroll) to many Nigerian CEOs do things like paying oga's DSTV subscription, children school fees, mother's recharge cards etc In the same vein, if the CBN boss use his official telephone like to make private phone call(to his son, for example), has he breached any rule? This is a public speech by a CBN boss that will tell on the CBN as an institution itself, using CBN resources is not out of order IMO.

agabaI23: If this was to be a compliment, I doubt if the CBN governor would have given credit to his research unit. As far as i am concerned, it is irresponsible of him at this moment to pass buck which actually is an inadvertent acceptance of guilt.

That's why I mentioned this:

Jarus: All these said, I think he is still not totally exonerated

1, He takes credit for the speeches, he should take blame too now that something has gone wrong with the speech

Stil,, it's not been proved that Dike's claims are true, especially as his name was mentioned in the paper.

Musyus: Nigeria as a country has won numerous valuable tournanment prizes in the african football realm compare to ghana.

African Nations cup: Nigeria 2; Ghana 4
Olympics: Nigeria 1; Ghana 0
U-20 World cup: Nigeria 0; Ghana 1
U-17 World Cup: Nigeria 3; Ghana 2
World cup appearance: Nigeria 4; Ghana 2
World Cup best performance: Nigeria, 2nd round; Ghana, Q/Final


So, where did you get your fact sir?

Stranger, first, the Yoruba article and others were written before he became apublic figure, some as far back as 1998, so it needs no telling that those were his personal articles written as a public commentator.

As CBN boss, he has an array of staff(research, corporate communications, special assistants etc) at his service. So it is safe to assume, without him even having to tell us, that some people do underground works for him before his speeches and presentations. Somebody even mentioned this possibility earlier in the thread before I relayed his defence here. Even CEOs in large corporate set-ups have their speeches researched and written for them, not to talk of a CBN boss, jumping from one meeting to another.

These guys who attended a CFA conference in Edinburgh noted this in their article below:

Once Governor Sanusi mounted the podium, he started his speech by joking about how his staff religiously prepare speeches and presentations every time he had a speaking engagement and how he had informed them that it is his prerogative to decide whether to use the speeches or not, and that this time, he had chosen to speak without using prepared speech.

http://www.proshareng.com/articles/2264 That was February 2011.

All these said, I think he is still not totally exonerated

1, He takes credit for the speeches, he should take blame too now that something has gone wrong with the speech

2, He has prerogative to use the speech or not use it

3, He could have asked the speeh preparers/researchers questions, or at least give a standing instruction that in their researches for him, due credit shoudl be given to authors of materials they use


Nevertheless, I believe it's a careless oversight.

That is, of course, if Dike's claim is true.

Corporate communications(or special assistants) unit write speeches, but they will collaborate with Research to supply facts and figures. Isn't that well known? A CBN governor cannot be preparing his speeches, except when he decides to talk extempore like the CFA talk.

Why will a Central Bank not have a research unit?

I discussed this with SLS yesterday evening and he made the following points:

1, The matter is in court so he wouldn't want to make official statements, but his communication guys may issue a statement to clarify that it was an institutional paper prepared by his research department, not his personal paper.

2, One Victor E.D (Dike) was mentioned/given credit in the speech, so he doesn't know what he is talking about

3, What is seminal in 'the problem of Nigeria is dilapidated infrastructure'? Isn't that banal?


Before the discussion drifted intp Barca/Chelsea match which was ongoing at the time of our discussion. SLS, like me, is an Arsenal fan.

I am unabashedly a big fan of SLS, here and in other places. I have never faltered in my conviction about his personal integrity and sincerity, his genuine errors notwithstanding. I have studied him from distance and, recently, closely.

This, if true, is an expensive carelessness on his part. But I still wait for his response.
Still, if true, it only adds to his carelessness(he has actually acted/spoken carelessly on a couple of issues in the past, but doesn't erode my belief about his honesty and competence.

On the allegations that he doesn't have a Masters degree on Economics, I have argued that in the past. He has. He did in ABU shortly after he graduated. I remember his interview with NEXT sometime in 2009 when he said one of his regrets was calling off his PhD application on a number of occasions due to his busy schedule. If you don't believe he has Msc, that's your own cup of tea. I believe, until proven otherwise.

On the issue of competence based on his qualifications, needless for me to say more. Enough examples have been highlighted up there.

Here isa my own Top 5 African Players of all time

1, Samuel Eto'o
2, George Weah
3, Didier Drogba
4, Abedi Pele
5, Kanu Nwankwo

Ogun: Obasanjo, who ruled Nigeria for 11 years about one-fifth of the Nigeria's post-independence life. Ogun has also produced No 2 man in the country(Diya). 2 almost-Presidents, Awolowo and Abiola, are also from Ogun state. Let's not talk about Wole Soyinka, Mike Adenuga, and other big names from the state.

Katsina produced 2 Presidents, Buhari and Umoru Yar'adua, one No 2 man, Sheu Yar'adua.

Niger produced 2 Presidents, IBB and AbdulSalam.

So any ranking that doesn't have these states in Top 5 can hardly convince me. To me, Ogun in particular is No. 1.

[quote author=Tru_lie]Ma felo nairalanders mak i no lie..deceptns asyd, d best rd so far in d whol of d country is d one built by d colonial master-3rd mainland brigd...am yet2 c a formidabu rd(s) built by any past n presnt adminstratn dat can bit dt.chekina!![/quote]Colonial masters built 3rd mainland bridge? Olodo. IBB did.

Brash/Mrcrackles
El-Razur

Ilorin and Sokoto have good road networks.

No 1 is very vital. It's one of the Golden Rules of interview.

Lmao

Will not wish anybody dead no matter what. Get well soon, Mark.

You no qualify. Abi na by force.?

It appears you're an encyclopedia of Ghana/Nigeria football.

Heard Muntari too has a Nigerian(Kano) father? True?

I don't know his name, so don't know whether he is among the nominees up there, but the 'fight-lion' guy that plays the role of Ambali in recent Yoruba comedies should be the most promising actor.

Hafeez Oyetoro(used by Etisalat as Saka) is another great guy in Yoruba movie indutry now

I believe it is.

Yet some bigoted and ignorant Nigerians are shouting down the introduction of this policy that is gaining currency in global finance.

The challenge of Islamic finance .
Andrew Sheng, & Ajit Singh

With Britain now in talks to sell part of the government’s 82% stake in the Royal Bank of Scotland to Abu Dhabi sovereign-wealth funds, the Islamic world’s growing financial clout is once again on display. That clout also poses a systemic challenge to the dominant way that finance is now practiced around the world.

From humble beginnings in the 1990’s, Islamic finance has become a trillion-dollar industry. The market consensus is that Islamic finance has a bright future, owing to favorable demographics and rising incomes in Muslim communities.

Despite skepticism regarding accommodation between Islamic and global finance, leading banks are buying Islamic bonds and forming subsidiaries specifically to conduct Islamic finance. Special laws have been enacted in non-Muslim financial centers – London, Singapore, and Hong Kong – to facilitate the operation of Islamic banks and associated financial institutions.

How should these developments be viewed from the perspective of Western finance and mainstream economic analysis? Does Islamic finance really constitute a viable alternative financial system?

The very fact that such a question is asked nowadays is significant. Not so long ago, Islamic finance was superficially dubbed a zero-interest-rate system that would lead to inadequate and inefficient resource mobilization and utilization. Ironically, mainstream central bankers today routinely use precisely such policies when pursuing massive “quantitative easing.”

There are two central precepts of Islamic finance: absolute prohibition on charging interest on financial transactions, and high moral standards on the part of lenders and borrowers. Interestingly, the best economic rationale for a zero-interest-rate system is provided in John Maynard Keynes’s The General Theory:

“Provisions against usury are amongst the most ancient economic practices of which we have record….In a world, therefore, which no one reckoned to be safe, it was almost inevitable that the rate of interest, unless it was curbed by every instrument at the disposal of society, would rise too high to permit of an adequate inducement to invest.”

Keynes suggested that only a very low or zero interest rate could ensure continuous full employment and distributional equity. Keynes’s endorsement of such a policy does not necessarily make it right, but his analysis does suggest that it should be regarded as a serious proposition.

Importantly, although interest is prohibited under Islamic finance, profit is not; the latter is derived from various arrangements that combine finance and enterprise. In essence, this is a profit-sharing and risk-sharing system that is based entirely on equity finance.

Islamic finance thus contrasts with the current dominant system based on interest-bearing debt, in which risks are theoretically transferred to debt holders, but in practice are socialized during crises. Other things being equal, most economists will agree that debt finance leads to greater instability than equity finance.

It follows from the second major tenet of Islamic finance that if people adhered strictly to its ethical requirements, there would be fewer moral-hazard problems in Islamic banking. Moral hazard exists in all systems in which the state ultimately absorbs the risks of private citizens.

But, whether any particular system is efficient in avoiding moral hazard is a matter of practice, rather than of theory. Many would agree that, historically, Christian morality played an important role in the rise of Western capitalism. Secular capitalism, however, has experienced an erosion of values, whereby the financial sector has put its own interests above those of the rest of society. If the ethical values in Islamic finance – grounded in sharia religious law – can further deter moral hazard and the abuse of fiduciary duties by financial institutions, Islamic finance could prove to be a serious alternative to current models of derivative finance.

Moreover, the basic tenets of Islamic finance force us to re-think the ethical basis of modern monetary arrangements, which have evolved into a global reserve-currency system founded on fiat money. In the past, gold had been the anchor of monetary stability and financial discipline, even if it was deflationary.

The test of any alternative financial system depends ultimately on whether it is – or can be – more efficient, ethical, stable, and adaptable than the prevailing system. For now, there is no Islamic global reserve currency and no lender of last resort. But the Islamic world is the custodian of huge natural resources that back its trading and financial activities.

As the Islamic world grows in stature and influence, Islamic finance will become a formidable competitor to the current financial system. The world would have much to gain if the two systems were to compete fairly and constructively to meet people’s needs for different types of finance.

http://businessdayonline.com/NG/index.php/analysis/commentary/36058-the-challenge-of-islamic-finance-

^^
Kanu was rated 4th, while Abedi Pele was between 1-3(will google the ranking). Go check your records again.
To say Okocha was miles ahead of Abedi is an insult to football.
Abedi, apart from winning Champions league with Marseille and winning African footballer of the year 3 times, was the most dreaded player by Nigerian NT when the Ghana/Nigeria rivalry was at its peak in early 90s.

Ok, pretty babes need not applya. Lol

lol.

U wan make my brother arrest me

Beaf: Yes, Musiwa is an emminent personality. We respect him as a powerful guy that can even remove Jonathan.
Uche2005, please beg him to take us away with the Western Niger, many of us have packed our load since last. Waiting, waiting for Musiwa to take us to Benin Republic to save 15 million lives and make North majority after the SNC.

Yes o, Uche2005, pls soliloquize, oh sorry, tell Musiwa.