Is amazing how far AIG and H. Wigwe have come.
From buying the old Access Bank, merging it with a couple of small banks in 2005 and now merging with Intercontinental?

Is it even a merger or acquisition?

It'd be interesting to see how they digest Intercontinental,

Yeah, it'd make a lot more sense to do your MBA at Lagos Business School.
At least, you'd network with your peers, and have a shot at a decent internship with a firm with Lagos.

I don't imagine you'd get a prestige job in the UK with a LSBF degree.
If you must study for ACCA in the UK, or do a course on MS Excel, LSBF would be a good choice.

The MBA is a degree you can only do once. Invariably, the school you attend, friends you make at school would
tell a lot on your professional life as time goes, I don't necessarily agree with folks who say that the top schools are hard
to get into. Honestly, if you check off all the boxes (decent GMAT score, good undergrad scores, solid work experience), you
have a good chance. The thing is not many blacks apply to these schools, so if they see a good "black application", they'd be
happy to give you a shot for "diversity" reasons. Enough said.

PapaBrowne and Ideylaff have made excellent points.

While it is great to have round pegs in rounds holes, a lot of their success would depend on their willpower, as well as GEJ's, to take bold steps.
The type Sanusi has taken- whether we agree with it or not is a completely different argument.

I'm hoping Aganga would succeed in his new role. Let's give him some credit. Its easy to just sit in front of your computer and just criticize people.
I'd expect him to do a terrific job with the Sovereign Wealth Fund, and streamline Govt policies to make Nigeria more attractive for FDI.
In fact, he could have make a larger impact in this ministry as opposed to the finance ministry.

I don't imagine it is easy to make a difference in Nigeria's Public Service.
There are too many factors working against you from day 1 - from the corrupt and inept civil servants, to powerful persons who have vested interests and access to Aso Rock.

SLS would, for a long time, remain controversial.

I think we should focus on his achievements thus far, as well as future plans. Let's dissect these, as opposed to
dwelling on his academic/professional past. At the very least, he'd be in office for another 2-3 years.

Inflation, Real Sector Lending, exchange rates et al, are the macro issues we should focus on for this thread.
Have these issues improved since he took over? These are very complex issues.
Even Bernanke, a leading scholar on the Great Depression, doesn't appear to be solving the US problem.
US job gains have been dismal, which brings up another point-- how do we even assess SLS when we don't have
up-to-date data?

Let us disregard all those local and international awards, we know former CEOs who got all those, and are now convicted.

BTW, what's all this noise I'm hearing about the CBN setting up an hotel, power plant and chicken farm

I'm keen on follwoing the PE space in Nigeria.
I understand activities in this space has been picking up- ARM recently launched a fund; CAPE recently bid for one of the "8 banks".

Seeing that banks are a lot more cautious with lending these days, PE firms could be very helpful in providing
capital for the numerous mid-sized, and large businesses in Nigeria.

I'd like to hear from folks who work in/are familiar with this space.
Current happenings, prospects, challenges, opportunities,

Great post.

My angle is this: are the universities developing courses/programs that match the current reality?
In the developed world, higher institutions consult and consort with industry, and the economy in general, to design
programs that match current and future needs.

I was shocked to see a new "university of technology" offering accounting/business admin courses as one
of the first programs.

Nigeria is lacking in so many areas, and to the best of my knowledge no new courses have been designed to address these- power, tourism, enterpreneurship, int'l business etc. That's why new graduates are simply clueless, and employers keep hollering that they are unemployable. Its amazing that after more than 50 years
post-oil discovery, no local university runs a reputable oil&gas program, except the PTI. I stand to be corrected on this, though.

I'm a big advocate for the increase in tuition fees. Our public universities are simply starved of funds.
There is a whole lot more to running universities than paying lecturers' salaries.

I found it most amusing that UK univesities would flood our newspapers and billboards with ad.s, and you
could hardly find basic information about any Nigerian graduate and post-grad program online.


I'm a big fan of Ajanlekoko, but I'd have to disagree with his Burkina Faso analogy.
There is simply no basis for that comparison.

Bull's eye.

We complain about our leaders being corrupt, but you'd be baffled at
how the corrupt the junior guys are.

Unfortunately, most of them are incompetent and would naturally resist any change to improve the system.

Until the Public Service reforms itself, and starting recruiting and retraining the "best and brightest",
the execution of Govt policies would leave much to be desired.

Sanusi would remain controversial.
I think the simple test would be has our financial system improved since he took over.

Regarding the 150k limit, I would expect a more subtle approach.
How about letting banks charge higher fees for such withdrawals, and offer cheaper alternatives
like e-banking etc,

Overall, I think the issue of islamic banking is completely unnecessary.
Sanusi is not forcing anyone to patronise Islamic bank. Besides, I imagine its a tried and tested model in other parts.

Kudos to him for creating a lasting impression about Nigeria.
Those guys at the CFA conference are probably the largest investors anywhere in the world.
YOu'd be shocked to discover that those folks have no idea about what Nigeria is- besided e-fraud.
Most of them only know of South-Africa.

Creating and managing a favourable impression is a must for FDI flows,

Does this signal the end of facebook?
What's going to happen to their $70bb valuation?

In fact, they've been downplaying their attrition rate in North America.
Feweer people log onto facebook these days. Seems like those guys are not turning out
ideas as fast as they should. Whatever happened to the proposed fb email anyway?

@Ayoalade, kindly send me your phone number to Laajman@yahoo.ca, as promised so I could discuss my spousal application with you.

I'm currently in Toronto, and confused about this medical test thing for spousal applications. Do we need to include in the initial application,
as it is one of the items on the checklist. And i hear the application would be returned as imcomplete if it is not included.

I'm also confused about what name to use on the application forms, her maiden name which her passport bears, or her married name.
Btw, can Nigerian Immigration do a change of name for her passport?

I'd appreciate constructive feedback from folks in the know.

I'm appalled, shocked and disappointed as to how Tinapa is turning out.
Didn't KPMG forsee all this Customs' brohaha. Were the Customs' guys carried along, anyway?

Even as it is, there doesnt seem to be any clear-cut damage control strategy.
Imoke is sounding passive, uninspiring and clueless about his next steps.
Has he been consulting with the Private Sector for the past 4 years with nothing to show?
Even the Tinapa CEO doesn't look exactly convincing. Going by his name, sounds like he got the job on some "State Character" thingy.

If there is a will, there is a way. If these guys really have a vision, and lobby well, they'd make sense of this thing.

I think Imoke should even appoint Duke as the head of Tinapa. This was his dream. Maybe he can make it work.
He seems to be a smart and charismatic guy. He could run with this project and take it to another level.

I don't entirely agree with someone's argument about Calabar not having enough spending power.
The Nigerian market is huge. If properly managed, that place could be our own Vegas. We've got a large population in the
20-50 range, who have quite some spending power.

Nigerians like to spend on entertainment and fashion. Hundreds of Nigerians visit Ghana, ZA and London frequently.
They could visit Calabar and have a blast for a fraction of that. We simply do not have any hot destination ni Nigeria.

Recently, I was planning my honeymoon, and nowhere in Nigeria stood out as an exciting destination.

Besides, that place doesnt look like it even cost $250m, talkless of $450m.

I'd agree with the OP, Ije004, badmussy and jerseyboy to a large extent. You could argue that he's simply consolidating on Tinubu's achievements.

Honestly, I think Fashola is over-hyped. And its important to keep him in check during this 2nd term- as he doesnt have a reelection to fight for. He is very good man though - no doubt about it.

Let's forget all the comparison with states, and look at Lagos on its merits.
LSG's IGR is >20bb, as well as ~3bb from the FG. There's also the xx billion bond he floated.

I'd expect him to reform the corrupt civil service, somehow hold his LG chairmen to higher performance, as well as strenghten the Tax Administration machinery. Most importantly, I'd expect him to learn from the Lekki Toll episode, and aggressively pursue such PPPs across the state.

I don't expect any less than BRF is currently doing. Calling him mediocre though, might be pushing it a bit too far.

@ OP. Things to do:

1. Drill down on your personal hygiene- oral, body etc.
2. Let someone who has got some dress sense check out your wardrobe. Update if need be. Doesnt have to be expensive.
3. Engage in healthy outdoor pursuits- team sports, exercise
4. Discover your passion, and pursue it aggressively
5. Find a hobby (something sane, not like torturing cats)
6. Go out and make female friends, without expecting it to lead to anything. You dont even need to get their contact details.
Just talk with random girls for 2-3 minutes, give them your best smile and leave. Do not ask for contact details, except
she's Halle Berry.

Maybe you're trying to hard, maybe you don't have social skills, but its all learnable, man. Its not rocket science.

Anywhere in the world, good people are hard to come by. And like someone rightly said earlier, like would attract like.
When I was back in Naija, it was even hard to meet girls I could relate with. Obviously, there are more girls in Naija so when
you step out there is a smaller sample to choose from.

I've met a few who gave me attitude, and quite frankly, I think its their loss. I've met a few excellent ones too. Maybe some guys
expect that girls abroad would swoon over them, simply because the guy is abroad. For the most part, girls are vastly experienced at
judging guy in a few seconds, but from time to time they get it wrong.

Even the guys sef, why do you travel and insist on dating Naija girls? Variety, they say, is the spice of life!
Well, there's the natural tendency to gravitate towards Naija girls, but if she aint game dont sweat it.
Look at this way: you're probably saving yourself a lot of trouble.

I think the bigger problem is this: For Nigerians its harder to get a partner these days, for both males and females, at home and abroad.

Does anyone know any means of transferring money from Ngr to Canada, outside of banks?

This is very painful to say the least.
I never met him but he was clearly a role model, and more importantly, scandal-free.
Its amazing how he kept a low-profile, while running a high-profile bank.

Thumbs up, T. Your legacies will def. outlive thee.

@Ayoalade, seems like you're heaven-sent, or something.
If I recall, you've previously made some very helpful suggestions in the past too.

Do send me your digits at - Laajman@yahoo.ca, and I'd call you.
Thanks!

I'm in Toronto, and about to file for my newly-wedded wife who is in Naija.
Is there someone located in Toronto/GTA who would kindly give my forms a look-over: to be sure I've crossed all the t's and dotted all the i's?

That'll be greatly appreciated.

A burning question is this: her passport bears her maiden name. Should I fill the forms using her maiden name or my last name?
Laajman@yahoo.ca

Thanks!

Interesting,

I don't see why you should go back to spend 4 + x years for another undergrad.
Rather, I think the upside is you'd need to be a lot more thorough going forward, seeing that you have a "handicap".

You'd need to focus on what you want to accomplish. Start acquiring practical skills in your chosen area, attend courses, write relevant professional exams, ensure you have tangible achievements at work, and network like crazy.

All you need is a breakthrough, in terms of getting your first job. You could then pursue a grad degree in 4-5 years, and take it from there. At that point, your undergrad fades into insignificance. The focus then would be on your achievements, network and capabilities. Better still, you could even start your own gig at that point, and employ 1st class graduates!

Best wishes,

Tony!

Tony did a solid job with UBA; especially with the pan-african outlook thing. I'm even more impressed by his foundation.
The idea of devoting his resources for the public good is a lead I hope other Nigerian "big men" would follow.

Does anyone have the phone number and address for the clinic(s) for medical tests location in Lagos?
Thanks!

@Riba_man:

My sentiments, exactly.

Riba_man:

I hear what you are saying,but this has gone beyond entertainment!
No one has a right to tell you who to watch or follow, for your entertainmetn! But if the truth were made clear to our people, the generality of them will do a rethink. The money you pay to follow your EPL club on Pay TV ends up in the EU. The money factor [THE MONEY PAID BY FANS EVERYWHERE] shows that footbal is no longer merely about entertainment, it is purely big business right now! The EPL is now about capital flight and neo-colonialism.
By the way, I have been known to watch a match now and again!

@maxpro-xl, good suggestions.

Like I mentioned earlier, BRF is doing well, but seems to be over-hyped. Maybe because we've gotten accustomed to bad leadership.
Honestly, I'm not overly impressed with his embarking on a railway system. I dont expect any less from him. I may be wrong but I think
Lateef Jakande had such plans before the military intervention.

Lagos State has massive potential, given its demographics and economics. We shouldnt be falling over ourselves when our leaders do the right thing. Rather, we should seek to raise the bar.

maxpro-xl:

This is just a media hype. FASHOLA is trying and can do more, other governors are working too especially states with low revenue. fashola is only visible because lagos is the commercial capital of Nigeria. what l dont like about ACN is the imposition of candidates on citizens.
for those of us based in lagos, we know most roads if not all are built by a firm owned by the almighty god-father. most contracts are being circulated among ACN chieftains & their associates. so tell me, how are they distributing wealth. how are they empowering people, how are they supporting aspiring & emerging entrepreneurs.

fashola is just a figure-head. even another deputy was imposed on him as a running mate. one man cannot dictate what happens in LAGOS. ACN has employed the services of a tetra-headed monster called agberos aka area boys to win elections.

these agberos hinder the flow of traffic, they extort innocent bus drivers openly & cause violence in the city.
they are called tinubu boys, am sure they will also affect the implementation of the proposed train facility.

another issue is the omo-oniles. you acquire a land and pay some silly tax to a bunch of idiots. after that they also tax you heavily when you're layin the foundation, building the decking & roofing the building. you pay three times just to build a one storey building. THIS ACT IS ILLEGAL & EVIL. av been a victim & its so sad and painful.

FASHOLA: please eradicate these AGBERO & OMO-ONILE system in LAGOS

@ debosky.

Thats a possible scenario. But what are the chances of that happening?

"Exorbitant rates of return is relative". Given our double-digit inflation figures, that is inevitable. But even the LASG bonds that were floated last year or so, yield about 15%. And I am not sure those bonds were tied to any specific revenue-generating project. So viable project with distinct cashflows would be less risky.

"Political stability" risk has reduced somewhat- seeing successful transitions since 1999.  

Regarding ridership, I imagine the Govt would have to make delibrate efforts to make people adopt the railway system. An example would be to make it more expensive to own and drive cars, through a combination of laws, levies and taxes. Besides, if it well planned such that the BRT buses are integrated with the rail system, it should receive decent patronage.

@ Eko Ile, obviously you thrive on responding with cliches + insults. Little wonder you've racked up >1200 posts. I'd leave you to stew in your folly.

debosky:

1. Debt incurred to execute railway project is such that it requires exorbitant rates of return, above what would normally be required due to Nigeria's relative political instability.

2. Prices demanded are unrealistic and low patronage affects the system - insufficient revenues to cover operating expenses and repay loan

3. LASG allocations are forcefully deducted to pay for loan in 1.

That is just as feasible an outcome no?

Ok, I'd dumb it down for you.

1. "Eko Rail Inc." incurs debt to execute railway project.
2. Upon completion, commuters pay fares to use the railway system.
3. Fares are used to maintain the railway system, cover operating expenses, and of course, repay the loan in (1.) above over a long period of time.

7million refers to the GTA population- who are potential users of the TTC. Not daily/annual ridership.
Even if their population is 1million, they have a rail system. With Lagos' population >15million, shouldnt it have a railway system too?

@debosky
That's what I'm talking about. Discuss the real issues. Btw, I goofed by leaving out the GO transit one. Yeah, its there but the GTA folks couldnt do without the TTC if they've got to move around T. Anyway, thats besides the point.

Who'd be footing the bill? Without a doubt, it'd be you and me. Users of  would definitely foot the bill when "we pay-as-we-go". Would we pay more for a faster transit system, or be content with the status quo? Imagine hopping on a train at Badagry, and landing on the Marina about an hour later?

Hiccups with the Lekki Toll road. Obviously, there are lessons to be learnt from that experience, and applied to future projects. LSG cannot fund this project by itself. There has to be some private sector participation. Despite the hiccups, which are to be expected anyway, Lagos remains an attractive market with its booming population. A rail system for Lagos, by any stretch of the imagination, would be a viable project- if properly planned and executed.

@ Eko Ile "What's all the stuff like tax, lekki and bonds got to do with this argument? Just what do you want me to get?"
You might want to get off the thread now. This might be a bit too complicated for you.

Interesting that you label yourself a dummy.

You wrongly assumed I was comparing the economies of Lagos and Toronto. My point was simple- Lagos population is >2x Toronto's. Toronto has a functional rail system. Lagos should too. Simple. Thats where the comparison ended.

I imagine you did a quick google search and came up with your figures. Toronto's population is about 2million- correct.
But if you had drilled down, you'd discover that most of the folks in the surrounding town & cities (called the GTA) work in Toronto,
or have reason to visit Toronto very frequently. Hence the 7million figure. Neigboring town&cities have their own transit systems, but these are bus systems and not rail systems.

I was hoping you'd harp on the PPP lead I gave you. I had hoped you would enlighten us on how the Lekki Toll road is panning out, and lessons to be learnt therefrom. I was hoping you touch on how BRF has improved the state's IGR, and give us some insight on how the LSG could widen its tax net. I was hoping you suggest that LSG could possibly float a bond for this project, and it would be oversubscribed.

Instead, you came up with well-worn cliches, and suggested that you're a dummy. I couldn't agree more.

@ Eko Ile

I find your response to my post interesting, but fail to see your point. Mine is simple- a rail system is long overdue. Even if the LSG's budget was under a $2bb, it could still execute this project while spending very little- I imagine you're familiar with PPP.

FYI- Toronto's rail system serves about 7 million people - the balance being from neighboring cities.

I'd ignore your insults, and leave you to address the issues.

Its amazing how this thread is turning into an arena for ethnic bashing.

A rail system for Lagos is definitely over-due. I can't think of any mega-cities that do not have a rail system.
Undoubtedly, this would take off some pressure from the roads.
Even Toronto, whose model we are probably copying, with a population less than <7million has a rail system.
Interestingly, they've had their since the 60's- when their population was less than 1 million, enuff said.

Should BRF get the thumbs up for pulling this off? Not really.
In fact, I may be wrong, but I think he is somewhat over-rated. Maybe its because we've gotten accustomed to terrible leadership.

With a monthly revenue >20bb - and growing, I don't expect any less from BRF.

Firstly, I must admit I've been a fan of a popular london club for the past six years. But I'm seriously rethinking the sanity of devoting hours to watching them play. I've realised it makes more sense to spend my 90 mins on something productive for myself, and find 5-7 mins to watch the game's highlights later.

More importantly, this frenzy has hit the whole of Lagos- and Naija at large. On big game days, we all know how it goes down. From conductors in Ikorodu to the corporates in Ikoyi, everyone sorts of lose their heads. If all the madness was caused by a game between, say, Enyimba and Eko Babes, that would make a whole lot of sense.

Well, we could argue about globalisation, and how ICT has made the world a local place. But imagine the imagine the multiplier effect on commerce if just half of these frenzy was channelled into our local clubs>>>>increased gate takings, higher wages for players, better pitches, sale of merchandise, TV rights, while it would take a while to achieve some progress, it is possible. The South African and Egyptian Leagues have done well for themselves. Even names like TP Mazembe of Congo is a recurring one in the CAF Champions' league. Undoubtedly, we have a larger pool of talents.

What is the logic is being a fan of a club that 90% of us may never visit in our lifetime? Aren't we simply fooling ourselves?? I've met several europeans who are loyal to their own hometown clubs- a middle-aged english man who buys season tickets for Charlton FC; a german suppporter of Werder Bremen, and an Italian who proudly displayed the flag of his club (Lecce, I think) at his bar on the shores of Carribean beach.

Smart move by Taye.
1. He gets to pocket a significant sum, as it is a Bosman transfer and the player (not the club) is paid a reduced transfer fee.
2. Clearly no top 4 premier league team bidded for him. I don't see him replacing any of Cole, Clichy, Evra, Bale, or whoever plays LB for MCFC. I'm 3. I'm not certain Taye can cope with the pace of the EPL. He'd easily last another 4-7 years at the Serie A.

Does anyone know a reliable tailor who can sew two pairs of top-notch trousers for me?
I'm willing to pay top prices, to be delivered in Lagos.