₦airaland Forum

@Poster,
Thanks

@Knowall,
Of course, all the anti-third term warriors deserve credit. It's just that the issue here is Senate presidency only

bros you try, but unlike others, i wasnt fooled!

Of course, the intention was fun. That cannot be the anthem of a school. Even the school, IYANFOWOROGI HIGH SCHOOL, is imaginary as far as I know, until Spiked said there was a school actually by that name.

thus
there's no chance of Danjuma pronouncing anything hillariously.

This itself is hilarious

i woud love a kinda clarification on these terms; corporate finance, wealth/asset mgt and project finance

CORPORATE FINANCE
Corporate Finance is the aspect of investment banking that deals with:
-Capital raising: Capital raising takes various forms, equity or debt financing. You often hear a company is going to the capital market. A company cannot just go the capital market by itself, it makes use of investment banking institution to handle it for it, being expert in this regard. Corporate Finance division handles this. You can have private placement, where the coy underwrites the issue, and in turn invite select investors. It's not public. You can as well have public offer, in which case the whole public is invited to come and subcribe. Corporate finance handle all these for you.
-Capital restructuring: This basically involves restructuring the share capital base(and by implication, ownership structure) of an organization. Coys that want to do this invite investment banking institution, and this is the work of corporate finance team.
-Mergers and acquistion: when two or more organizations want to merge, voluntarily or circumstance-necessitated, or a company is acquiring another, this division of investment banking handle it. They coordinate the process, act as Financial adviser, being expert in this field. They serve as link between you and regulatory bodies until the M&A is consumated.

So all those adverts you hear in papers, TV, bill boards etc on one company raising funds, IPO, public offers, private placements,rights issue, and all those jargons, are what CF does in an investemnt banking institution.
Note however that in a non-investment banking institution, say a commercial bank, teh work of a CF division differs quite markedly from this.

WEALTH/ASSET MANAGEMENT
Some organizations call it asset management, some call it wealth management, although strictly speaking, they are quite different. In IBTC for example, they have what they call wealth group which comprises asset management and pension fund. In Vetiva we called it wealth management.
This basically involves pooling funds together and investing it, majorly but not limited to stocks. They call them mutual funds, implying that you give them money and being expert in the field they invest it for you and you share the returns(mutual). These companies call them different names/products/schemes: Ethical fund, Guaranty fund,Equity fund etc. In other words, being experts in the field, they help you manage your wealth/asset, and you can face other things. Of course, you share the returns.

PROJECT FINANCE/TRADE FINANCE
In many organizations, this is still within the purview of CF, but some others have it as a separate unit/dept.
Here, you bring the idea or the project, and they have the fund to finance it. They analyse the project you're bringing to table and you work things out together. And you share the returns.


But all these could be interwoven, at times.

I heard somebody mention that Olofin has started his Phd already?

Ronnykay:
I stand for grrrrreeeeeeeeeeeeeeeeeaaaaaaaaaaaaaaaaaatttttttt ife
Obafemi Awolowo University.

Great ife x2

Africa's most beautiful camp

Conscious, vigilant, progressive

Aluta against all oppression,

forward ever, backward never,

for learning and culture, sports and struggle,

Great ife, I love you

There's only one great ife in the universe,

Another Great Ife isa counterfeit,

Great, great, great, great, great. , . , greeeeeaaaatttttt




Of the grrrrrreeeeeeeaaaaaaaaaaatttttteeeeeeessssstttttttt ife, GREAT!!!!!!!

I'm proud 2 belong

Another Great Ife signing in. . . . .
The most coordinated university anthem in Naija. . . .

IYANFOWOROGI HIGH SCHOOL:

Awa min rele o baba
Olojo oni o baba
Gbogbo eko ti a ko
Ninu ile iwee wa
Ma se je ki eye esu
Ko saa je lokan wa
Aaaamin

@TKB,
Something tells me you're with RENCAP!!!!. That's a very good coy.

I know IBTC quite well, especially before recapitalization exercise forced them to join Chartered.
I think Peterside made a mistake obtaining universal banking licence. The universal banking licence they had, but not operated, made N25b capital base requirement cover them and they were left with no other option than to merge with Chartered and acquire one other small bank(can't remember the name). They couldn't make their marks in commercial banking, given the fact that all the Zeniths, GTBs, UBAs, FBNs, UBNs of this world are having a firm grip of the market and it will take a miracle to outsmart them in their traditional terrain. It was therefore only inevitable that Peterside gave the bank to Standard bank of SA, a major player in this terrain in African market.
Yet, about 2 years after, we are still expecting to see what the miracle the SA guys want to perform to compete with the Zeniths of this world.

In any case, if IBTC had remained the Investment Banking and Trust Company Ltd it was pre-merger or more critically, pre-obtaining universal banking licence, then this topic would have been IBTC and others. Their investment banking subsidiary,(SIAML) proudly headed by my bros, is no doubt still a force to reckon with in their primary constituency, and with the quintessential Yewande Sadiku and Funso Akere calling the shots in their Corporate Finance Division, I don't think any informed rating will put IBTC outside top 3 in investment banking ranking in Nigeria. But commercial banking, we can only hope for the good. . .

Good initiative.

Well, am seizing this opp to be blunt at Dis Guy (moderator), he moved my thread without my consent Shocked Sad Sad
I demand an apology Cheesy this is our forum and we deserve at least some forms of respec' (a tree doesnt make a forest, remember).

I think Mods have right to move a thread to appropriate section without informing the thread starter.

Good to have you here if well-intentioned.

Another masterclass from King Becommrich:

https://www.nairaland.com/nigeria/topic-281514.0.html

Guys,
This is unarguably one of NL politics section's most intellectual debates, where facts, rather than conjectures, reign. This is a thread that is presentable, anywhere.
I am personally pro-Soludo, but not anti-Sanusi, in other words, my view is: Don't change Soludo, but if you must change him, then Sanusi is not a bad choice.

I also find commendable the fact that all the contributors here demonstrate good grasp of economics, banking and economy, rather than beer parlour analysis.

I'll also go with Nnamani, given the way he handled the Third term debacle. He was very professional, he was able to effectively moderate the Senate at that trying period. We all know who Obj was, a man who was ready to do anything by force, by power of coercion. How Ken managed the debacle surprised me. When the likes of Mantu and other Senate leadership openly supported Obj, Ken refused to be coerced. And on the final day the bid was thrown to the gutters, he made a landmark declaration.

Want it like this:

-Cameroun
-Nigeria
-Egypt
-Ghana
-Ivory Coast

But the way it's going Cameroun and Egypt seem out of the equation: Is Gabon doing another Angola? B/Faso is also appearing for real o. .but it's a pity they are in the same group with CIV.

I can see the emergence of striker like Joseph Apkala,and Emeramo

I don't know why i don't have confidence in these guys

debosky:
There's no reason why you cannot be satisfied and make a decent living on a 'general path'. The desire to 'be like others' generally leads to corruption in my view.

I think I agree with debosky. Corruption(or its tendency) is not path-specific; it can result within any of the three classes you identified. But I agree it will be minimal in Personal path, going by the definition you gave it.

I will say I'm currently on General path. I'm just moving up and down, formerly a budding investment banker,now an Accountant, simply because those were the jobs that came but has strong plan to go back to Personal path( dream career:Economist)

brb

now becomerich over to u, he claimed to know so much on nigeria, and dnt bloody talk about benin cotonu, adress the writer

. . .and u are sure BCR can defend Yoruba without his usual 'Let's join Benin' conclusion?

well ok, he made his point, on the igbos, the yorubas and not much said on the holy fulani-hausa

It was very obvious that SLS set out, in that article, to defend Hausa/Fulani against the popular notion that they are the problem of Nigeria. . . as the starter of this topic is also saying.

The article was an attempt by SLS, being an educated Fulani man, to remind Southerners too, of their own excesses.


My personal view is that the whole country, and not a specific tribe, is responsible for the state of Nigeria today.

SANUSI LAMIDO SANUSI( now CBN governor) answers your question in this article he wrote around 1999/2000.

The Igbos, The Yoruba and History
By Sanusi Lamido Sanusi

sanusis@ubaplc.com



Every moment in life is a moment of history. Every present action immediately becomes past and roles played today will be remembered tomorrow with pride or shame, satisfaction or regret. Yet some moments are clearly more momentous than others, and represent far greater opportunities and dangers. These are often moments of crisis, a word which in its Japanese form is written with two characters, the one representing danger, the other opportunity.

The deaths of ‘Yar Adua, Abacha and Abiola plunged Nigeria into a crisis. That is, a period portending great danger for the corporate body called Nigeria as well as near limitless opportunities for progress, for a departure from the tension, the stagnation, the corruption and the injustices associated with the dark period known as the Abacha days. For the leaders of Southern Nigeria and, in particular, the two dominant tribes, the Igbo and Yoruba, it represented an opportunity once more to make a move for the presidency, and shift power (whatever that means) [b]away from the North which has come to be portrayed as the source of all the problems of the nation. [/b]The desire to win over power is the natural goal of political activists. The use of propaganda, blackmail, lies, bribery, deception, even threats of secession has been the hallmark of many an astute political strategy aimed at attaining set goals. Yet the choice of which method is appropriate to a specific polity in a specific historical context is a difficult one, requiring a high sense of perception, a knowledge of history, a natural intelligence and political sophistication. In choosing the path of black-mail and ethnocentric diatribe, the leaders of the South have once more displayed to the world their political naivete, and set the stage for another defeat that may see them remaining in opposition for the next four years.

One marvels at the never-ending cycle which sees Southern Politicians play into the hands of their northern counterparts. For a people who take pride in the depth of their Western Education and who have often expressed contempt for the “backwardness” and “illiteracy” of their northern brothers, southern politicians have presented to the world the ever-present proof that “book – knowledge” and intelligence are not necessarily correlated. One recalls Chief Awolowo’s description of Shagari as a “glorified Grade Two Teacher”. It was missing on Awolowo’ that the more contemptible the adjectives he used to describe Shagari, the lower he sank in the eyes of perceptive watchers, as the man he was describing had clearly shown that he was better by defeating him in a race both participated in from start to finish.

Western Liberal Democracy is a product of the nation-state. It takes as given, the corporate existence of the state and establishes institutions and the rule of law such as to ensure that the system, rather than an individual, is relied upon for safeguarding individual rights and societal values. To the extent that Nigerians have decided to pursue the path of the Western Nations (or at least those in power have decided that this is the way to go) participants would do well to bear this fact in mind. A democratic system is primarily about Institutions and the rule of law. It is not about individuals. We need a system, based on laws and a constitution agreed upon by all, that guarantees each and every Nigerian wherever he is from the right to full political participation and unfettered expression. A system that protects each and every one of us from the tyranny of an individual. A system in which our dignity and liberty are not protected only when the president comes from our own part of the country.

Abacha was a corrupt, ruthless dictator – period. Where he was from is immaterial. All Nigerians, Northerners and Southerners, Muslim and Christians, suffered from the corruption and injustices of his regime with the exception of a small band of family members, sycophants and traitors who joined him in looting the coffers of our nation. Those who stood against his tyranny and spoke out for freedom and equity suffered: among them Obasanjo, Yar Adua, Abiola, Rimi, Ige, Lamido, Nwakwo and Ken Sarowiwa. A cursory look at the list of those detained, framed, murdered, lied against, pauperized and otherwise abused in the last five years will prove to honest persons that Abacha was no respecter of region or religion and that he represented the least form of humanity degenerating dangerously close to bestiality, which is why, like Pharaoh, he is remembered today for his evil rather than his good, for no good of his can obviate the memory, etched in the individual and collective consciousness of Nigerians, of what it is like to live in an environment of terror, not knowing who next will be struck with impunity.

In pretending that these are not the issues, in teaching their followers to oppose Abacha not for his corruption, greed and cruelty but for his ethnic origins, in portraying the annulment of the June, 1993 election as an act against the Yoruba, in pretending that Abiola’s death in prison was in some way different from ‘Yar Adua’s death in prison, in claiming that the solution to this country’s predicament lies in changing the ethnicity of the president and producing a “Southern” President: in all this, the political leaders of the South have displayed the highest degree of naivete, the lowest sense of responsibility and the crudest application of their intellectual faculties. Worse than all this, they have played straight into the hands of their political rivals, the Northern Politicians.

The history of Nigeria since independence is too recent, too many real-life participants are still alive, for it to be rewritten with impunity as a political strategy. It was only in the 1960’s that the Nigerian Army’s officer corps was predominated by officers of Igbo extraction. It was only in 1966 that a group of such officers decided to destroy the peace of this nation and wage a war against other tribal groups. That was when the five majors decided to eliminate the Premiers of the North and West while letting the Igbo Premier go scot-free, to assassinate the Prime Minister who was a northerner after having advised the Igbo president to flee and letting the Igbo Senate leader go scot-free. To execute the Minister of Finance who was from the Mid-West; to execute the most senior military officers from the North and the West while letting the most senior military officer and army commander who was Igbo go scot-free. Not one prominent Igbo leader, military or civilian was touched . All the prominent civilian and military leaders from other regions were executed. The Igbo senate leader, acting for the Igbo president in his absence was, by the constitution, mandated to swear - in the most senior NPC minister as Prime minister. He did not. Instead, having consulted his Igbo President, and the president alone, he handed over power to the Igbo GOC in flagrant disregard for the provisions of the constitution. The speech of Nzeogwu, the magazines and newspapers published in the six months of the Ironsi government, his declaration of a unitary state, the provocation of northerners by Igbo traders who laughed at them in Sabon Gari markets, all of these are too recent, too well-documented to be rewritten.

The Igbo people were responsible for the first military coup in this country; They were responsible for the first attempt at ethnic cleansing; They were responsible for the first violation of constitutionally laid down succession procedures; they were responsible for the destruction of the federation and the creation of the unitary system of which they are now victims (since the initial objective was for the Igbos to dominate the other groups); they were responsible for Nigeria’s first civil war.

It makes no sense, in the face of these facts, repeat facts, for the Igbos to shed tears today and claim to have always been an aggrieved party. It will convince no one. Granted, the Igbo people as a whole must not be punished for the action of some. Granted, there can never be full reconciliation without justice and equity. Granted, the Igbo people, like all Nigerians, have the right to fight against perceived injustices. The way to do this is by integration into the country, by joining broad-based parties and establishing a system that guarantees all individuals and groups their rights and liberty. It is not by crying Biafra again. It not by following the man who led them to defeat and ran away to come back later and enjoy his wealth. The Igbos have always had alliances with other parts of the country. The astute political strategy is to go into one now. Tribalism will lead to defeat, once more, and even more humiliation.

As for the Yoruba, they have not been known to call for secession or the break-up of the country until recently in the aftermath of the June 12 crisis and Abiola’s death. One may not agree entirely with their description of themselves as peaceful people, but they clearly are a peace –preferring people, consistent with their well-known nature of seeking maximum enjoyment from life at minimal personal cost. The Yoruba instinctively know that more can be gained in peacetime than in war. Being business people, they have an acute sense of the risks of war and its implication in terms of destruction of accumulated wealth and property.

Yet in spite of this, the Yoruba have in their politics displayed two consistent streaks that have consistently kept them in opposition and cost them opportunities for coming to power. The first is vanity – a dangerous state of self-delusion borne of imagined intellectual and academic superiority over opponents and rivals alike. Thus, Yoruba politicians have consistently underestimated their northern opponents who thrive on wily intrigues and far-sighted manipulation of the political process. They have also assumed to their peril that other southern tribes would naturally acquiesce to their leadership and be lured into a southern alliance whose objective is to help secure supremacy and power for the south – west. Even the so-called Oduduwa republic assumes that the people of the former mid-west who had fought for an independent region in the sixties will willingly resubmit themselves to Yoruba domination. This is all in addition to the recent utterances of Afenifere calling for excision of the Yoruba of the north from Fulani domination, a call dismissed by a prominent northern Yoruba leader, Sunday Awoniyi, for its banality and presumptuousness.

The second streak is self-centredness. Of all the tribes in Nigeria who sometimes fight for parochial reasons, the Yoruba are the only group who clearly believe they are Nigeria. When they have what they want, Nigeria is good. Otherwise it is bad. When a Yoruba candidate loses an election (like Awolowo did in 1979 and 1983) it is rigging. When he wins (like Abiola in 1993) it is a landslide victory in a free-and-fair election. When Buhari overthrew a democratically elected and sworn-in government headed by Shagari, he was hailed as a reformer who came to fight corruption. When his tribunals jailed ‘progressive’ Yoruba governors for theft he became unpopular. When Babangida dissolved the election of Adamu Chiroma and Shehu ‘Yar Adua as flag-bearers of NRC and SDP the decision was hailed as patriotic and courageous even though it led to an extension of military dictatorship. When the same man annulled Abiola’s election it was a travesty of democracy. The list is too long to go through.

As a result of these two characteristics, the Yoruba have tended to be received by all other groups in Nigeria with one sentiment: mistrust. The Igbo people believe to this day that the Yoruba led them into the war pretending to be with them and dumped them at the last moment. During the Second Republic, a grand alliance of four opposition parties capable of winning power from the NPN achieved nothing when it became clear that for the Yoruba the issue was not one of supplanting a conservative government and installing a progressive one, but of securing the presidency for a Yoruba candidate – Chief Awolowo.

NADECO, whose members had been strident opponents of Abiola branding him Babangida’s boy, suddenly look up June 12 and tribalised the cause. Subsequent to Abiola’s death, the memorandum NADECO submitted to the Government of Abdulsalam Abubakar was such a comical exercise in vain hallucination and naïve optimism that one wonders if those that drafted it were in complete possession of their mental faculties.

The Yoruba have become Nigeria’s wailing tribe, detaching themselves from the rest of the country and alienating the people they hope to rule; abusing other Nigerians through their vociferous media and hoping for votes from the same Nigerians on ballot day.

The lesson in all this is that the Igbo, Yoruba and all Nigerians must learn by now that no one can win a national election on a tribal platform. Those clamoring to join Ojukwu’s Igbo party, and those attempting to transform Afenifere/NADECO into a tribal party are heading for a resounding defeat at the polls.

The presidency can, and perhaps should, move to the south. But it will be to a southerner who contests on the platform of Nigeria, not of his tribe. A southerner committed to the system, to the rule of law and to the principles of peace, justice, equity and freedom, not of avenging real or imagined wrongs; a Southerner like Chief Abiola who stands the chance of winning.

This is an opportunity to make (or unmake) history. But, sadly, it is being thrown away once more in what may be the commencement of a new cycle of defeat, frustration and wailing.

LOL @ the pictures. . . .na wa o

damn, dis is the best forum eva, currently servin at a securites firm, in fact, currently running the place as me boss is in ghana for cfa and Musa the second in command is just an ignorant figure head, and i have major plans for investment bankin, dis has been a lotta help, tanx a lot folks,

I don't think it's wise of you to call the second in command of a coy you are stil with, 'an ignorant figure head', even if you know he is. Even if you are no longer with the coy, bad-mouthing a former boss/coy in public is not the best. You could have used a lighter word, if at all you want express your displeasure. Something like: I'm not too impressed a top mgt staff overseeing things now(NEVER mention name).

true IB is quite diverse but like my boss says, d bread and butter is still stockbroking, issuing house deals dont come in dat often, how reaally true is dis,

Yes, stockbroking is an all-season thing, and issuing house(Corporate Finance) could be seasonal. But for us in Vetiva, we were stronger in corporate finance(acting as Issuing house,Financial advisory etc) and that was where we made the large chunk of our profits. But that was the period banking/insurance recapitalization was on and our hands were full with projects and it got to a stage when we had to be rejecting projects we considered small.

I thought STANBIC IBTC is a top two INV Bank? Shocked

I mean from what i have heard and read!

I don't think any rating will put Stanbic IBTC outside Top 3. I'm also quite shocked T-Cann's rating.
IBTC's founder,Atedo Peterside, is the father of investment banking in Nigera. They are a force to reckon with in investment banking in Nigeria.

deor03:
I guess, some must have been working for Google also (the earth division)

u dey find BCR's trouble ooo

Still not the Eagles we want. .  . .but they are moving there little by little.

Kanu came in and added fluid to the game, giving SE possession and distributing the ball, and capped it with an intelligent pass to Osaz that gave us the second goal.


Another five-star performance from Ike Uche.

Over all, I will give them 6/10.

Kudos to Kenya. They gave a good account of themselves. They were only not sharp enough in burying their chances.

I'm a Yoruba Kwaran. I am more southern than northern, but I have to live with the 1914 geographical gaffe that put northern boundary after my town, thereby classifying me as a northerner.

I personally don't have any problem with my being seen as a northerner, or more specifically, from the north-central or middle belt, whatever nomenclature they use to describe us.

I am tired of these arguments about whether we are Yoruba, northerner or whatever. I am a Yoruba northerner and I don't have any regret. I don't care about whatever zone I am classified. What is important is that I will never deny my tribe-Yoruba. Others are human groupings and can be changed any time. Tomorrow, they can come and merge us with Osun and tell us we are now in the South. I don't see all these  stopping my personal goals in any way.

On the Bukola issue, I think the Sarakis are Yorubas.

@Topic, Na today.