₦airaland Forum

Sanusi and Soludo are two sides to the same coin. Sanusi is only out to save these banks.
Questions that has continued to bother me is that before now where the banks actually lending to our manufacturing sector, is it ok to give out loans without collateral, when was the real sector assisted by the banks?
During the era of soludo and banks were capitalised instead of putting money in the real sector they got involved in ponzi schemes of the stock market, it was these same banks then that would not give loans to any young man with ideas, I was in the banks when the managers would aprove loans within their limit to friends and most times just to import goods for sale, also d banks cannot take the whole blame because the enviroment that is infrastructure like power were not reliable so banks prefered to loan money to importers who bring in consumer products sell off make good profits and then pay interest the banks were makin money but definitely this type of banking could not last.
Enter Sanusi, are the banks really profitable, are they following due process in banking, on investigation these banks have gone too far into the abyss of mismanagement, CEOs awarding loans and contracts to themselves thru proxy declaring profits they were not making transfering provisions for bad and doubtful into income, manipulating the stock market, borrow money from other banks to shore up their deposit position towards their financial year end all these madness was just too much and Sanusi is just trying to bring order to the madness and a lot of things will have to suffer but just hang on there is hope.
The RP,where hav they been when d banks were making jumbo profits without any commensurate contribution to the real economy?

As Jonathan marches on to 2011, the PDP will kip gettin frustrated, this is d time for well meaning Nigerians to take their stand with destiny. Jonathan is d man who will finish PDP from within, my fingers are crossed as we kip watchin events as they unfold

There can never be justification for murder, those that perpetrated this act must be caught and properlly dealt witg

Quote from CGking
What could wiegh folks are challenges of inconsistent power supply, fuel  hike and constantly recurring scarcity, bad roads, traffic situations, ,  plus the fact that its not getting better. Nigerians are getting totally fed up and the country seems to be edging towards a major conflict with each incidence.

When was d last fuel hike in this country at least officially? When was the last time a leader or ruler in this country make a promise and kept it? Rememba dat Yaradua on resumption promised that he would never increase the price except labour and other unions had agreed and since 2007 to date d only price movement oficially in fuel had been downwards and you are still looking for the light.
The benin-lagos expressway is it worse off now, or better, lagos roads are they better, the east west road has work being abandoned or is the work not progressing even the abuja down to lagos road is not too bad, so why should we only complain at least look @ some bright side and dat is when u have hope. People in lagos hav been complainin that their light from PHCN has refused to go off for abt 3days to a week, in Abuja wen I was there d light was relatively stable at least on d average I had light for 18hrs a day, when I visited abeokuta at least there was no day I didn't get light, and in PH though I don't have light now my light has been relatively stable so I choose to look @ my glass as mayb 1quarters full instead of 3quarters empty and I thank God for hope.
The Nigerdelta is no longer as hot as it was, the exmilitants can come out to protest and d govt listens and we hav not resorted to war or further bloodshed, yes Jos crisis has been terrible, but it was this same country that had the Ife/Modakeke crisis, Ijaw/Itshekiri crisis, Militants/JTF war, and a whole lot of numerous crisis runin @ d same time yet we survived it all.
Y should I believe that I have no hope or this country has no hope, will I be happier if I feel my country is hopeless, please if u can't c d light u are worse off than those who have never seen PHCN light because u are spiritually and intelectually blind

Bakare has no buisness meddlin in politics, he should be somewhere praying for the nation and encouraging christians to have faith in God and not be carried away by politics. Who are the credible nigerians who contributed to his secretariat.
Bakare you have called ur self to the service of God and u can't serve God and Mamon, leave politics to politicians and instead concentrate on soul winning

Now nobody is talkin about the police efforts in restoring peace without violence, d only comment that came close was "failed state". Nigerians we never see anything good in ourselves

@netoste, are the union leaders justified in their threat to shut down power if Babalola is reappointed? Is it possible that this union leaders are not happy with Babalola because of his disturbance of their daily bread? Can d union truly cast the first stone? Should we not be more interested in why they are prepared to go on fasting so he does not come back but never thot of something like this when Imoke held sway? Do u really think that while he was minister he wasn't comited to solve the power crisis?
I'm waiting for your answers.

@oyb I must tell u that within 2004 and now a lot has changed even though we still have proxies there is now at least an order to the madness. If u are interested in a big ticket transaction you must go thru some proces and the proxies come into play here and everything is involved in computin d cost. A project cld be given for 2b but d job will only cost .5b so that is d prob now and union members in PHCN are not innocent in all this sometimes they are d conduit, that is y I believe that their case is just d case of a kettle calling the pot black. Do they d union workers love us more than the minister?

Why not? There is hope and Nigeria is not a failed state. Some failed states even enjoy power 24/7 and having power does deliver u from being failed, at lest we still hav a govt in place in charge of everything within the boundary, so don't let ur probs weigh u down I hav sin d light @ d end of d tunnel u just look up.

@ilugunboy Bullshit.

Youths are just a sector of d total voters in d country, d candidates have to come up from the parties so what we should talk abt is credible candidates who can make it at the party levels no matter which party it is, so my vote would go to Jonathan because I'm sure he wld make d contest and definitely stands a good chance.

Quote from Cap28
yes i think he's doing the right thing but while he's at it perhaps he could start by reopening his wife's case with the EFCC - you know the N104m which she stole from the bayelsa state treasury and of course the other $13.5m again stolen from the bayelsa treasury, its nice to know that nigeria's acting first lady was indicted on money laundering charges which were subsequently quashed - nigeria, what a country.

Y do people just like to say rubbish on threads, or mayb he shld let d ministers b because his wife was indicted. Y don't we leave his wifes case till Yaradua returns as some pple are assurin us he would. If u can't be a judge in ur own case it should also hold that you can't be your own accuser.
One question for u, should we wait until a saint comes to power before we fight corruption?

What is Danjuma talking about what everyone does not realise is that power is transient and if Danjuma had wasted his time just to remind someone that he had asisted the person b4 he should realise dat wateva power he wields now is only temporary.
It is normal in humans that when we are looking for something we stretch out to find it but once we get it we settle down and make the best of it, do we have any idea how many people would have claimed to hav asisted d minister to d post and what was Danjuma xpecting dat d minista wld come to pay homage to him.hisses

Its all scam and of no effect. Yaradua and Jonathan are not foes, Jonathan made it clear wen he told them dat he wil no longer look for the president but if and when d president wants to see him he is available. If they like d close sources can tell us Yaradua will resume tomorow or nxt year but til he comes Jonathan remains in charge.

oyb:
you really have no idea how it really works , do you?

this is the sort of thing that happens

engineers recommends that 20 tranformers be procured fr a project.

minister awards contract to his girlfriend, wife,self/friend none of whom is a professional

these parties procure off spec equipment

engineer challenges them - and a witch hunt ensues


to be honest, everyone has a part to play - but the truly corrupt part of phcn is distribution. for the most part, the fellows in generation and transmission are dedicated fellows - though the hiigher you go, the more you compromise yourself

It is you who does not understand how it works PHCN engineers specify the specifications and in a worst case scenario a minister may award the contract to a senator or his wife or houseboy but these people can not do it they in turn give to an engr company.
As i write this i work with a reputable power company and all the projects we have are not given to us by any wife we work directly with PHCN the only extra thing we have nbeen doing is settling some people who can link us to get this jobs and u will agree that this goes on in all sector of our economy and it is actually the bane of our society because most projects are  always inflated to take  care of these people and let me tell you nobody buys a transformer just off a market shelve you have to place an order with the manufacturers and this is where the specs come into play so all those stupid talk of Obj and Ige buying transformers out of spec is only a stupid and senseless insinuation or do we really think that for Obj to embezzle power funds he has to buy the transformer himself, all he has to do is ask the engrs to buy, submit their prices and he marks up and that is what they actually do, that is why our power projects are very expensive and we may never be able to build power stattions like those in South Africa cos if we are to build the same type and capacity we may have to pay 10 times d actual amount. does this show you a level of understanding now?

Quote from netoste
do the workers decide where the money goes? sign contracts? all the workers do is maintain and operate the equipment, while it is safe to say that PHCN is corrupt and all that, saying PHCN workers are the reason that nigeria doesn't have constant electricity is a sure sign of ignorance. . .the problems nigeria is facing now, were caused by the leadership(specifically the military) but the politicians have not really helped matters either, they've spent a lot of money alright, but an equal amount has gone into private pockets(guess whose?)

the problem can never be the minister?when bola ige promised constant electricity in 6months(like most nigerians i believed him), he and OBJ then proceeded the import a lot of transformers(which wont have helped anyway) but guess what? the transformers they imported weren't suited for the NEPS, the minister can never be the problem you say. . .there has never been a minister of power that has worked A DAY in the power sector since and yet you expect them to formulate and apply policy that will move the sector forward abi?

To say that the govt and by xtension d minista alone aproves contracts for the ministry, but it is these workers that determine the nature of works to be done the engineers actually sit and determine the scope of works to be done. If Ige nd Obasanjo imported transformers that were not suitable the engrs should be blamed as a minister u can't determine things lik d specs of transformer blaming power probs on the minister is unfair it is the staff of PHCN who diverts funds, collaborate and collude with contractors to provide substandard equipments are to blame.
The union leaders can never be more powerful than d ministers and if they are, that is then the root of d power probs and d minista shld work on showing the union leaders the way out and until then we may as well kis goodbye to solving our power problems and in conclusion let's ask this question what has been the contribution of this union workers in solving the power crisis in this country?

@netose, nobody in this country can claim he knows the power problems in and out. If they don't want babalola they should quit if babalola is reapointed and not disturb us with their noise. The real problem of d power sector can never be who the minister is.
The power problem in dis country can only be solved by teamwork, so pls we can change the minister and the new minister on resuming should start by sackin the union leaders.

This is simply bullshit and I must state my diapleasure and disapointment and I am available if any of these ladies is interested in suing d govt they can contact me this is a good case and we can make a lot of money

I said it b4 Jonathan has his plans, pls all youths should prepare to support this man come 2011

I think the leaders of the unions calling for this shutdown should be shown the way out of our power sector reason being that they are the ones who have been working there for the past 25yrs when things were being run aground, they also should be held responsile for frustrating all past ministers of dat sector and keeping us in the dark. Are the members of the union telling us that a man who was minister for about 24mths is responsible for power failures or is it those workers at d power station who can switch off power for just any flimsy excuse?

The SNG cannot claim responsibilty or victory in all these, truth be said the SNG could scream frm now to next year and nothing wld happen. The only reason y it seems as though they are having an effect is because someone in power benefits from d actions taken

Quote
ElRufai denied reports in some quarters that he had offered himself to work with Acting President Goodluck Jonathan, saying what he said was he was willing to support the Acting President to run in 2011 "if he can show that he has the capacity to make the changes that Nigeria needs."

And what can we make of that statement, Jonathan is already working towards this and do I c El Rufai applyin as member of d new cabal?

And we are supposed to believe this crap. 200million to be paid by prospective ministers so Dora paid dat before she became minista or osotimehin or odom whom I know personally didn't have his own house in Abj @ d time he bcam minister. Pls spare us fables on dis forum

Majority have commended Jonathan on this bold step but I kno dat d moment some people who they want in d new cabinet fails to make it to d cabinet Goodluck will change to Badluck and Jonathan wil change to Jonaclueles and Jonadonothin.
For me he has always had my support right from when he quietly set d whole cabal up by not rushin to be in charge even under provocation he refused to be provoked even when everyone thot him a weaklin I knew him as a man of purpose and he has and is playin politics d way it is supposed to be played that is doing what u want witout animosity allowin people have their say and he then gets his way. This is just d beginning look forward to Goodluck Ebele Jonathan for PRESIDENT 2011.
A lot of things may be achieved by GJ but Yaraduas achievements should not be denied and anything Goodluck achieves would be as a result of the foundation laid by Yaradua.
God bless d President, God bless d Ag President and God bless Nigeria

Jonathan has only proven dat he knows where he is going and he cannot be rushed, pushed or dictated to. Rememba govs asked him not to dissolve cabinet but now he has done that, so I'm just calm waitin for his next move.

I said it before, Jonathan has it planned he is d greatest strategist in Nigerian politics. They hav given him d power now he is exercising that power, bit by bit he will get there.
Jonathan I'm right behind u its time to unveil ur cabal. Is there anyone stil doubtin Jonathans ability to contest and win in 2011, thereby dumpin d zonin formula of d pdp, the next people to feel d heat are the un cooperating governors EFCC is already on their trail

I support Jonathan for president. The reason is simple, we would be ending d cycle of rotational presidency, zoning of the presidencyAnd lastly we could start the end of riggin in d land

guess dis is my time to stock my fridge with meat and get a lot of stuff from the hausas cheap at least i can run a poison test on my dog after that i can confirm or deny the rumor or is it news?

Thank you for this post, at least the country's ranking has improved and we are still on course to be among the top 20 by 2020.
For those who never want to see or believe anything good in Nigeria e.g Beaf, na_so and co this is  worth acknowledging and together we can take this nation to the promised land. So as we keep acknowledging and highlighting our failures as a nation we really need to also acknowledge where we have made improvements.
A friend of mine just got to Lagos from Benin and couldnt understand how his power supply has improved to the extent  that he was having supply for an average of 18hrs daily for a week and he is still counting.
Someone earlier said our roads have become worse please anybody who travelled from Lagos to Benin last year and have made the same trip in last month, would you agree?

@Beaf all I tried to say is that we need an atmosphere of peace to resolve our problems. Is that simple enough now

@invisible its not my fault if u don't know how 2 read. U can get a translator if u nid one and meanwhile this is not a forum to show off language skills.

Quote from pennywise
Now tell me do you think the interest of the ND will be better served if Jonathan is president preferring not to ruffle feathers and maintaining 13% derivation or someone else is president but with the ND getting derivation in excess of 50% as it was in the first republic%

Do u rily think dat derivation is d prob of d ND, do u fink dat wit an increase in derivation d problems in d ND wil just go away.
The truth be said even if u want a 100% derivation u won't and can't get dat in a chaotic atmosphere let us sheath our swords let us dialogue d govt we kip blamin is not d problem nd d people @ d helm of affairs most times arenot affected by all dis chaos we try to wreck on ourselves. Dialogue is key, peace is essential car bombs won't change anything it can only increase d misery in d ND. MEND pls cease fire we don't want no war