₦airaland Forum

SapeleGuy:
They need to challenge this decision in court.

Certainly, you are smoking crack.

It's blindingly apparent, by now, that Nigerian banks are in a bad state. There is no liquidity. While they may have substantial assets, how does that help the mechanics of the financial system function as normal? Se na asset you go lend business owner? Se na asset business owner go take meet payroll? Nigerians go just open mouth and talk nonsense.

Perhaps the CBN governor should have referred to the banks as “functionally insolvent” as opposed to “technically”, but there can be no doubt that these monkeys are not in a good way. They’ve been overexposed, their credit risk management mechanisms are practically non-existent, they declare phantom profits in a world-wide recession, they have yet to diversify fully from core-retail banking, corporate governance is trash, they lie to the public, their books are saddled with toxic loans and bad debt, etc. In short, Nigeria banking is in the toilet.

You must be on hard drugs if you think otherwise.

See this chick o, You must know 9ja. By any measure, Nigeria is a useless country.

Practically all rankings declare Nigeria is dangerously close to the status of “failed state”. The only thing keeping us from joining Haiti and Somalia at the bottom of the trash-can is the oil. And even then, Bakassi boys no go let us hear word.

I mean, really, other than that, what distinction exists between Nigeria and Haiti? Smfh.

The poster either has no understanding of what the CBN governor’s role in the financial system is, or he is just a dimwit. Number one, as someone pointed out, being CBN governor requires not just an understanding of core banking. The individual will need to understand how core banking feeds into the larger economy. Thus, an individual with a solid academic background, usually in Economics, is a no-brainer.

Secondly, no doubt Soludo was an arsehole in certain regards. Still, I doubt that anybody could have envisaged how beneficial the consolidation exercise would end up being to the Nigerian financial system. Nobody can take that from him. He handled the business on that front.

Now, my own beef with the whole 9ja banking thing is the absence of corporate governance. In the West, woe betide the CEO who would cook the books and declare phantom profits the way Nigerian CEOs do. The government needs to tighten up the regulatory framework fundamentally. If it became a criminal offence to mislead the public as these bastards do – declaring bogus profits, insisting their banks are healthy when even Stevie Wonder can see that sh*t ain’t right – these stupid MDs and CEOs would tighten up and start dealing with the public forthrightly. Where the regulatory mechanism is air-tight, and CEOs have the fear of Kirikiri in mind, they’d do their jobs properly.

desgiezd:
I really can not understand why there is so much hatred for Tinubu. We all know that infrastructural decay in Lagos has been there for quite a long time. Tinubu tried his best and he achieved a lot. A visit to the whole of Isale Eko including the Central Business District and many other parts of Lagos will convince you. While he was doing his bit, he was also laying the foundation upon which Fashola is building today.

See the nonsense that this one is saying. Regardless of how horrible things are, you will still see a bunch of people who would be willing to accept it, smfh

The aggressive pursuit of bank deposits has always amused.

Nigeria is an absolutely useless country. Firstly, people need to understand that what is just coming to the light now has been in the works for a while. Apart from the laughable crap which these stupid banks have been trying to sell to us that they have been profitable in a worldwide recession, they need to understand that these loans will never be redeemed. This crisis is partially one of the things that led to the banking crises in the West -- a crisis which Nigerian banks have been insisting, all this time, that they are immune to while declaring phantom profits.

These banks will suffer because they will not receive any bailouts from the Nigerian government. And sadly, the lack of liquidity in the financial system will only make the business situation in Nigeria worse that it already is…

All these people just dey preach.

Instead of you lot to be thankful that there's now sanity in the country, you are moaning because a savage was treated like a savage. I, along with many others, have articulated a pragmatic basis for the execution of these wanna-be Taliban idiots but you lot are still looking for rule of law. When Islamic Jihadist killers burst into your house with a machete in one hand and a Kalashnikov in the other, and demand you renounce your girlfriend, na that time you go hear word.

How the f-- do you think a large swath of Yorubas are Muslim today? Because Osman Dan Fodio was a jihadist nutjob, that's why.

What bullshit.

People go just siddon inside their house for Lagos, inside air-conditioned living room, and be tapping at their 300, 000 naira laptop, clamouring for rule of law while some idiot is tearing the country a new arsehole.

That's hardly a serious way to deal with things.

blacksta:
@ lonewolf

U must like digestive and tea.


I see your angle but the fact that their are no present legislations to deal with modern terrorism doesn't not in any way justify point blank execution of an individual tagged as a suspect ( as provided in the laws of any land ) of a crime

I am all for following the law and all that sweet talk. It's just that the actual task of governing is difficult enough. Of course, this does not mean that one just turns a blind eye to certain things, it's just knowing that there's a fine line. But this paddy no even wan recognise anything at all. I mean, I know that we need to get to a point in which terrorists need to be put through the legal system. If I was an AG, and I knew they had caught the guy, I'll probably put him through the system and get him executed with charges in the books at the moment. But if I was President, I would have ordered that I want him dead -- which means they would have killed him in a gun battle. Leaders have to make pragmatic calls. We need to recognise that.

Again, this is totally independent of the fact that we need continue to work hard at developing our legal system. I readily concede that point.

They talk say person dey bomb everywhere, this guy dey talk about rule of law,  I tire o.

I am not going to get into a debate about the history of terrorism. It is pointless, and does nothing to move this debate further. The empirical or academic analysis of terrorism as a notion is not my concern – I’ll leave that to you.

But any observer, who has been looking at events wide-eyed, through the glasses of practicality, will understand that the legal framework does not exist as of yet to deal with modern acts of terrorism; more so in the face of political reality. Even the British Prime Minister was trying to shove a new bill through Parliament that will increase the government’s ability to hold on to detainees for a longer period of time. Why? Because the laws in the statute books in legal systems as sophisticated as England’s is proving incapable of dealing with terror suspects. Do you know the number of programmes Western governments run off the books to protect their citizens? Do you know the amount of espionage work that goes into making it look like habeas corpus works?

I will be the first to contend that Nigeria’s legal system is one of the least sophisticated, and that more needs to be done. What I will not do, though, is sit in my living room on a Saturday morning, with a digestive and tea in hand, and whine about how the government killed a terrorist who was trying to foist his stupid beliefs of savagery on a multicultural population.

You refer to these morons as innocent? After burning down half the state? I am not ignorant of the law. In fact, I know the law. I just know when to take off the lawyer’s cloak for the garment of reality.

RichyBlacK:
No matter their alleged crimes, once caught, they should be accorded due legal process! That is what humans who have evolved from barbarism do! That is what animals in human skin do not understand.

If these summary executions happened in the UK, whereby cops killed 10 Nigerians in custody, it is people like you that will start screaming about human rights!

However, senior elements in the NPF are ordering summary executions of fellow Nigerians and you're supporting it?

Nigerians must condemn this otherwise it will set a new precedent, and the result will be summary executions will become normal practice!

Shame on the Nigerian government!

Cry me a river, weep me a sea, then go fishing in both.

There's a difference between idealism and realism. In an ideal situation, summary execution is not the best. Rule of law, innocent until proven guilty and all that lawerly nonsense. In the real world, however, where a government has a population to protect, decisions makers are entitled to be pragmatic. I will allude, again, to Obama, the custodian of change.  .::Rolls eyes::.  Obama promised transparency but when it was time to release pictures of American war vets molesting and maiming Iraqi prisoners, he sat on it. Why? Because it was the pragmatic thing to do. Even though it would have been ideal for him to release the pictures.

Again, when Somali pirates hijacked American sailors, what did Obama do? He ordered the pirates shot. In cold blood.

Sitting down in the comfort of your living room, on a Saturday morning, eating biscuit and moaning about due process is hardly a realistic option when a bunch of morons have decided to visit 13-century beliefs on a struggling developing nation. And in the final analysis, as we develop a jurisprudence for dealing the with terrorism and terrorists, we'll begin to act differently. But in the mean time, kill the motherfuckers.

Religion has no place in the implementation of policy. The notion that religious groups start partcipating in elections is dangerous.

If an individual decides to go outside the operation of the law in an attempt to foist jungle beliefs and philosophy on a multi-cultural populace, that individual has effectively declared himself an enemy of the state. Basic criminal matters or civil matters are catered for by statutes, codes and laws. But any slowpoke with a law dgree knows that as of yet, there's no developed jurisprudence for terrorism -- which is effectively what this Boko Haram idiot was engaged in.

When you stoop to terrorism, you take yourself outside the operation of known jurisprudence and things become shaky. Even the West is yet to develop an acceptable set of laws to deal with terrorists. And in most cases, they hold them indefinitely. (A court in America just declared that a certain terror suspect should be freed but Obama is still holding the suspect.)

The point here is: from the comfort of your room, with a tea and digestive buscuit in hand, you can sit and whine about rule of law. Blah, blah, blah. But real recognise real -- and in this case, while it's not ideal that terror suspect be summarily executed, it is the pragmatic thing to do. If I was your President, in fact, I would have made sure they killed him in battle and not arrest him at all.

They killed the idiot, so what? If a bunch of people decide to behave like savages in an attempt to foist their stupid beliefs on the rest of the populace, I don't see anything wrong in treating them as they deserve: savages.

This is pointless. Nigerians have their priorities bleeped up. MKO is dead as a dodo. Instead of policy makers to focus on substantive issues that will really affect peoples' lives they are busy naming monuments after dead men. This is stupid.

If city firms, investment banks, hedge funds and other financial service institutions from Wall Street to London are feeling the punch of the financial crisis and are laying off workers with the quickness, what would make Nigerian banks impervious to those dynamics as well? Are these not the same Nigerian banks where the executives cook the books and declare phantom profits? How can a Nigerian bank convince me that they are able to weather the financial crisis better than a Canadian bank, for example, when the Nigerian bank -- by default -- is operating from a weaker position and has less access to cash?


Nigerians just like to talk nonsense.

I don't know the veracity of this post, and, to be honest, I don't care. But why are people jumping on the poster? If a bank is laying off workers and somebody makes a post about it, why would you attack the poster? The logic behind this mentality is absurd. Smfh,

Lol @ Moha[b]mad[/b]

Nigerians are a funny lot. The truth is the country is a collection of too many restless tribes who were forced into a marriage by the British. That's the essential root of the country's problems: our tribal incompatibility. Now, the reality is we are too far gone into the marriage to seek a divorce. We kind of have to stay together for the kids. So the reality is: we have to make do. We have to streamline, cut and adapt the polity to fit the challenges of the time and come up with a framework that make us viable as a country in THIS time, the 21st century.

Of course, we will need historical data to help us in that objective, which is why we should bear out history in mind. But the idea that people start eulogising obscure militia thugs from the civil war, or debating which tribe betrayed which, is not only pointless but, to my mind, absurd.

Again, my thoughts.

Again, I think that Nigerians should be directing their emotions towards constructive things, and demanding pressing answers to serious questions -- like why is there no sensible energy policy in the country, etc. People are always lamenting and living in some past glory. If it's not old Yoruba dudes talking about Awolowo, it's Igbos complaining about a civil war, or Hausas plotting the glory days of military rule. All that is washed up. Nobody cares. I know I don't. What people are bothered about is the 'here-and-now' and 'going-forward'. And in contributing constructively to how people can lift this cursed country from the hole, I don't see how eulogising some nameless militant is going to help. Just my thoughts though.

Incidents like this drive people to question the idea that Islam is a religion of peace. Ever since I was a kid, people from up North have been slaughtering Christians from the South. The truth is a fraction of Yorubas are Muslim today because Osman Dan Fodio thought it would be a good idea to expand the Islamic caliphate. But that's all well and good. Once bitten, twice shy.

If people up North are determined to live in the 13th century, if their wish is to bring their region as close to Afganistan as possible, then that is their problem. You cannot plead with a man hell-bent on killing himself -- you have to get out of his way. My only recommendation would be that they limit their madness and savagery to the confines of the North. They are welcome to subjugate their women, keep their children in permanent ignorance, etc. That is absolutely up to them. However, the people from down south must make thoroughly clear to them that as long as they want to remain in the union, they must limit their stupidity to their homeland. Total Islam bawo? Who dash monkey banana?

Most Nigerians don't care about stuff like this. Most people are worried about food, electricity, how to pay school fees, etc. It's difficult to see the point of this incomprehensible romanticism of tribal ethnicities and origin. Of course, ethnic minorities have been treated badly -- no one will dispute that. That said, I think it's pretty pointless knocking your heads and typing essays about obscure "freedom fighters" most Nigerians will never know -- and, quite frankly, don't give a shit -- about.

Energy should be directed at more constructive things, things that affect the daily lives of Nigerians. Bleep a Boro.

By now, there's no doubt that Ijaws and the other ethnic minorities in that area have been neglected. One of the steps the Nigerian government needs to take in order to solve the problems in that region would be to engage in constructive dialogue with the people in the area, and invest heavily there. All that said, the notion that a bunch of thugs can go bombing places like Lagos, etc, is absolutely unacceptable. If you have a beef, come to the table and talk your shit. When you start acting like a terrorist, then you have lost the plot.

If this is true, clearly, the Nigerian President is even more idiotic than I initially imagined. How do you invest so much money into a barren, unproductive state such as Kaduna, at the expense of the folks who actually have crude oil on their land? It is ill-thought out decisions of this sort that lead people to cry tribalism, and quite right so.

The UK is going to build a prison in Nigeria because at the moment it would violate EC human rights law if they deported prisoners -- regardless of whether or not they are illegan aliens -- back to Nigeria. The reason it would violate EC law is because Nigeria's penal system is so odious and backward that it violates the very notion of the sort of penal system the UK can knowingly facilitate peoples' condemnation to. Hence, the proactive decision to build a £1 million jail in Nigeria. It 'll save them money on the long run because at present, it costs close to £40, 000 to feed and house a prisoner. And 1 in 8 prisoners in the UK is a foreign national. So it makes financial sense to build the prison in Nigeria. And just dump the prisoners there. They would have discharged their duty under EC law by the construction of the prison.

I am new to nairaland but by no means new to forums.

I am quite impressed by some of these 9ja law firms. Does anybody have any idea about earnings?

I like this whip and I wana buy it. Where are you located? So I can have someone inspect it. Of course, we still need to have a conversation about the price. Have you got an email?