₦airaland Forum

Soludo’s tenure at the CBN focused more on economic growth stimulated by the improved capacity of indigenous banks through re-capitalization while Sanusi’s focus is on managing the risk precipitated by the improved capacity; it doesn’t matter, though, that this was gingered by personal/ethnic agenda. Soludo did not address the entire problem in the Banking industry but he deserves some applause for the ones he dealt with.

Sanusi’s aspersions at Soludo’s tenure in CBN are uncalled for. Judging from Sanusi’s actions and utterances, he seems to think that all a CBN governor should care about is banking supervision. The guy took actions and made utterances without considering the effect on the economy. The job of a CBN governor is meant for sound economists who understand the significance of the role of banks in stimulating growth in the economy and not vice versa. Consolidation meant that Banks were empowered to take more risks and the consequences of that could either be positive or negative as we have now found out. Now that the Banks got certain decisions wrongly, the apex bank should not leave them to themselves because their collapse or incapacity will impact the economy negatively. Sanusi’s own approach is to chase the few “thieves” who profited from the wrong decisions and settle scores with those who have earlier referred to him as a “small boy banker” while he cared less about what happens to the rest of the economy. In the Americans’ similar experience, Ben Bernanke (US Fed Chairman) stated his priority in addressing the US banking crisis as not focusing on the decision makers but first on the survival of those institutions and their ability to continue unhindered business as failure to achieve this could spell doom to their economy. So Bernanke introduced TARP (Toxic Asset Relief Package) funds to absorb toxic assets from the Banks and allow them resume their lending functions. What became individual debts became a collective debt for the American government. So the rule is survival first before dealing with internal banking issues and the American banks have been dealing with them.

Unlike Sanusi, Soludo had a broader approach to discharging his functions as the governor of the apex bank. Yes, Soludo did not spend much time emphasizing corporate governance, but it will be unfair to say he ignored it. I am banker and I can tell you authoritatively that Soludo deployed resident CBN examiners to all banks in the first week of January 2009. Part of his reasons for doing this was to strengthen supervision and also compel sound corporate governance. Those examiners sat in ALCO and Credit Committee meetings as well as in meetings of other governance committees. Sanusi should check his records. Having said this, Soludo is only a human being and could get it wrong somewhere, maybe his close romance with the Bank Chiefs became a debacle to him. But he did his best and deserves some accolades.

[b]"The United States Government yesterday joined the growing list of countries congratulating Acting President Goodluck Jonathan, saying the principle of democracy was upheld in the resolution passed by Nigerian lawmakers to fill the power vacuum in the country.

This is coming on the heels of the first legal challenge to the Jonathan Presidency. Yesterday, a former minority leader in the House of Representatives, Hon. Farouk Adamu filed a suit at the Federal High Court Abuja, challenging the resolution of the National Assembly which paved the way for Jonathan to become acting president pending the return of President Umaru Yar’-Adua.

Yar’Adua has been receiving treatment at King Faisal Specialist and Research Centre in Jeddah, Saudi Arabia, since November 23, last year. Speaking through its envoy in Nigeria, Ms. Robin Sanders, the US said the best interest of Nigeria had been served by this action of the legislators.

The US added that it was ready to support Nigeria in its quest for a better political future, especially in the conduct of credible elections in 2011.

“We believe that the principle of democracy has been served well in Nigeria through the leadership shown by the National Assembly, the Governors’ Forum, several ministers and the courts in finding a way out of the political impasse.
“The commitment of all elements of Nigerian society to constitutional process and the rule of law is commendable.

“The US Government looks forward to working with the government and people of this great nation,” the statement concluded."[/b]

Chei! The US and their insatiable thirst for oil!!! They know the NASS resolution is a "Genje", yet they supported it. Hmm, we know what this is about: they simply want all oil deals with China cancelled and want Jonathan to give them prime consideration in sharing the oil blocs. That sharing exercise comes up soon and I bet this is about oil!

sley4life:
Shut up. You better check the CV of Trapattoni before you open your dirty mouth for public. You for include Nigeria for Ireland group make you see if Amodu go even carry 4th position there.

Don't mind them jare!

No be Mozambique help naija qualify? And in 2002, Nigeria had to pay Ghana to go beat Liberia after the former had promised George Weah and giving him a false impression that they will loosen their guard. Amodu deserves no praise for those world cup feats and Trapatonni is his grandfather as far as coaching is concerned.

Guus Hiddink is not interested in Nigeria and Van Gal is still under contract with Bayern and has committed to seeing through the contract.

Trapattoni is the best choice among the remaining guys!

atilla:
I can understand why she refused the letter, if u read it ull c that there was no apology. It simply said that he meant something else.

Lines were crossed and aoondonakona has to do the proper thing, as a lawyer he knows. If it was the other way round u can imagine all the fuss the idiot would be making now about it.

By the way he owes everysingle Nigerian an apology for his stupidness and misleading us over yaradua.

Exactly my view too. Aondoakaa was not apologetic in that letter and he definitely lied about what he actually meant. He's been a marvellous liar all along.

Aondoakaa needs some more humiliation, more than his demotion has done to him.

I do not blame the NBA and I see its stance as a wake-up call to all indolent and government dependent northern elites to do something about the bad news they make cheaply to CNN and BBC

It is not just about the Jos Crisis alone, there are still Boko Harams and other fanatical islamic sects constituting threats in all nooks and cranies of the North. A recent US intelligence report before Abdulmutallab's attempted terror attack says that there are still many other dangerous religious sets apart from Boko Haram in the north and that they are constantly recruiting followers and may strike soon.

People should please be objective and see this as a well-thought out safety measure by the NBA. NYSC corp members that have lost their lives innocently in the north in the last 2yrs are justifies this stance.

Every human being is born with a measure of greed. What makes the difference in everyone is the opportunity, checks and balances and self discipline.

That is why a Nigerian who grew up in the UK or the US would most likely have a lower level of greed than home grown fraudsters and looters because in Nigeria, the opportunity to develop your greed abounds and the checks are either so weak or almost non-existent! Discipline is it why some of us who grew up here and have not joined the league of looters and insatiable Nigerians, have been able to control our level of greed.

But believe me, all men are born with greed!

I have a step-mum. My mumis the 1st wife and she came when my Dad was really made. She once was responsible for my Dad and Mum parting ways. She boasted and was reported to have said She was responsible for the seperation between my Dad and Mum and that she was only buying time to finish me and my 2 other siblings. But God is greater than anyman, HE proved himself and somehow my Mum and Dad made up. But before then, We saw hell and she would have finished us really but thanks to my paternal aunt and uncles who were sympathetic and stood as opposition. They found jaz on her with my father's name written on it.

Since my parents made-up, She had gone full blown metabolic. Though she never quarrel with my mum openly (reason many observers praise our Dad for peace despite 2 wives), we fight and are still fighting many spiritual battles. She has also descended on my Dad and made him a robot for failing to send my mum away. Unfortunately, my Father thinks she's the best. We live under the same roof but my father has abandoned us to our mother. He will spend 80% of his earnings on the other children and will not care how we survive on our part. I cannot even be sure of having an inheritance in my father as we have reliably gathered that he has willed almost all his assets to this woman's children. The story is so long and pathetic!

But God is so good, we are doing fine with little support from our mum but unfortunately my other siblings on whom my Dad had invested almost all his fortunes are gettting worse; cultism, pre-mature pregnancy etc. They are sources of unrest for both step-mum and dad right now. I really pithy them.

The lessons here is to strife hard to free our children of this experience. To me, that is one of the best gifts you can give them. It is not really easy to love my step-mum but God has been helping me and my siblings to cope fine with her.

It's one of those things. May God help us all.

@ Eyohimself

Thanks Eyo, really appreciate your advice. My mail add: bolaonmail@yahoo.com. Will be expecting those materials.

I hope i will be able to do lots of practice. i work a very busy schedule so i can only do few hours during the week though i sometimes have d weekends to crash it all.

@ Dividends

It's very possible but your application will be done alongside fresh grad applicants at the period(s) the program admits fresh graduates.

For example, if the program admits in Fall only, a successful fall 2008 grad student of a mid-rate school will only be able to apply in fall 2009! If the program admits in both fall and spring, a successful fall 2008 grad student of a mid-rate school can apply in spring 2009 and fall 2009. After one semester transfer is the most common and easiest. The other alternative (i.e after one year) is very difficult but possible especially for research MS programs that will run into PhD.

@ Nunustic,

Go to GRE website; www.gre.org. When you are about to register for the test on-line, the site will show you a list of available test centres by dates and location worldwide.

But i think there is/are only one/two test centres for GRE in Nigeria. Firstlogic at Oba Akran, Ikeja-Lagos and i guess another one in Abuja that i don't really know.

There are more than one for GMAT in Lagos; Bitass in Lekki and others that i don't really know. The website info will be very accurate. see www.gmat.org or you can access both websites (GRE and GMAT) via links at www.ets.org.

Good luck

@ Eyohimself, C_JAY

Thanks man, i'm writing again on March 4 and my chosen schools; UT at Austin, University of Houston, Iowa State University and Illinois Institute of Tech, have been notified and luckily have consented to have me send in my scores mid-March. I am applying to the Construction Management and Engineering programs. I already completed my applications for Fall 2008 in January.

I was on leave when i wrote that messy test in January but back at work now and have limited time to prepare. May God help me.

Hi guys, nice topic u discussing here! I attempted the GRE sometime in January and committed a blunder in not following instructions through. That blunder ensured i quit the test prematurely and i got a ridiculous 200 in quantitative!!

Two quant sections appeared; one before and one after the verbal, and i was supposed to attempt the two as if i will be scored on both. But in actual fact i will be scored on one of them that i wont know. I quit the test based on my previous understanding that the second quant section was optional which was what it used to be. Alas!!! i got a correct verbal score of 580 and a quant of 200; the least you will score even if you fail all the questions.

Am sharing this so guys can watch out!

I will be writing another one in March but i want more test tips. Heard of one 'GREmathsbigbook'. Please can anyone help with this? I think Mathways should be able to help. You may attach it to your reply please!!!!!