₦airaland Forum

Beaf:
Ah ah! Bros, na you wan gi me headache na!

They are your comments not JosBoy4Lif's. That is why I am asking if that position has changed. Please let me know.

Rewind. . .

you don dey begin act like person wey no sabi read again, na yaself you dey try to fool, ko?

my comment na:

JosBoy4Lif,

tank you my brother. if i understand you correctly, we don already subtract de profit of shell and chevron before we get de gdp figure.

na him be say, you don reveal de senselessness wey de inside de statement wey beaf make before.

look at the bolded, and if you still wan hide ya head inside sand like ostrich, dat na ya cup of tea. on de other hand, if you wan express ya self properly, i dey listen. but i go tell you one ting, on this issue, you dey inside round box. olodo

Beaf:
We might be getting somewhere at last.
Please clarify, so that we can have an accurate idea of how we are looking at this thing.

your attempt to give me headache, or dodge my questions no go work.  make we set aside JosBoy4Lif's comments momentarily,
now respond to the quote below, but if fear catch you, no yawa:

de profits of those 2 companies wey you mention no factor inside gdp calculation, so ya statement dey factually inaccurate.

i know say you dey intelligent and you fit express yaself well, so tell us exactly what you are trying to say.

Beaf:
^
It does. We are counting monies that play no part in the Nigerian economy. It might suit some from the outside World, but we are fooling our selves.

Its like a man  counting his neighbours kids as his own just because they play in his yard.

i no go let you off easily with careless statements. de profits of those 2 companies wey you mention no factor inside gdp calculation, so ya statement dey factually inaccurate.

i know say you dey intelligent and you fit express yaself well, so tell us exactly what you are trying to say. nobody go beat you up, just tell us wettin be ya beef, beaf!

Beaf:
^
Na wa! Is the profit from Shell and Chevron in Nigeria? How do you subtract what isn't there in the first place? We can only count govts share, forget Shell and Chevron.

Beaf:
Just convince me that Nigeria's GDP is not the "GDP" of Shell, Chevron and the likes, majority of whose money doesn't touch Nigeria (don't forget they are allowed to repatriate like 100% of what they make).

na you claim say nigeria gdp, na de gdp of shell and chevron (see ya quote above) . somebody give us gdp equation and i ask you make you tell us where shell and chevron profit factor in.  you no gree answer and you dey dribble ya self like maradona, and you dey run around like pussycat wey dey play with ball.  de ting be say, ya point no make sense.

JosBoy4Lif:
X bar = net exports, X alone = gross exports

JosBoy4Lif,

tank you my brother. if i understand you correctly, we don already subtract de profit of shell and chevron before we get de gdp figure.

na him be say, you don reveal de senselessness wey de inside de statement wey beaf make before.

Beaf,

ngwanu, i don remove de cheap shot. see my question in bold, make you answer, no dodge am.

adconline don give you text book definition, him tell us say:

C + I + G + (X – M) Textbook definition of GDP
C= Consumption, I= Investment,G=Govt expenditure X= net exports,M=imports. Could you tell us where Nigeria has done well in to respect to all the factors and why it's likely that it will overtake SA in 14 months.

abeg na for where inside dat equation wey you go plug profit of shell and chevron?

Beaf:
My friend, stop being over sensitive jare, just because I very rightly yabbed Sanusi.

Just convince me that Nigeria's GDP is not the "GDP" of Shell, Chevron and the likes, majority of whose money doesn't touch Nigeria (don't forget they are allowed to repatriate like 100% of what they make).
The other thing to convince me about is that Nigeria actually has an economy. I say, it has NONE.

na why you dey go to dis kind extent to simply tell us say you no like sanusi? must you resort to presenting yourself like primary school boy just to continue ya hatred?

adconline don give you text book definition, him tell us say:

C + I + G + (X – M) Textbook definition of GDP
C= Consumption, I= Investment,G=Govt expenditure  X= net exports,M=imports. Could you tell us  where Nigeria has done well in to respect to all the factors and  why it's likely that it will overtake SA in 14 months.

abeg na for where inside dat equation wey you go plug profit of shell and chevron?

2008  Nigeria  gdp na $335.4 billion 
2008 South Africa gdp na $491 billion

why una tink say sanusi's expectation no dey realistic? could it be that, its because sanusi na northerner? i no know why i dey ask you de question sef. de answer na YES!

naijaking1:
My brother, you have company-o-oo
Sanusi sees himself as a cross between a movie star/dictator/islamic puritan/minister of information. All we need is just a CBN governor

i suppose dis ya post for page 2 relate to GDP.

we sabi some people here wey dey get their hards on anytime wey dem criticize sanusi. according to dem, any ting wey sanusi talk na bad ting, sanusi get northern agenda, and de man na extremist al qaeda operative.

one of those people get beef with all northerners, in particular sanusi, while another one na wannabe king, wey no even qualify for chieftaincy wey i fit carry N100,000 go buy for him village.

i don trash at least two of dem, from thread after thread, but dem still never sobber. dan tselewa.

[flash=500,500]
https://www.youtube.com/watch?v=Zel7g_IEPUM&hl=en&fs=1&[/flash]

The Economic and Financial Crimes Commission (EFCC) yesterday in Lagos arraigned Francis Atuche and Charles Ojo both former managing directors of Bank PHB plc and Spring Bank plc respectively. They were arraigned at the Federal High Court, Ikoyi, Lagos presided over by Justice Akinjide Ajakaiye on 26 count charges relating to mismanagement andmisappropriation of shareholders funds through reckless grants of credit facilities without adequate security, revealed by the recently concluded audit exercise of the Central Bank of Nigeria (CBN).

Of the 26 count charges, Ojo has only two charges- Counts 1 and 2 - linked to him. The EFCC prosecution team was led by Muslim Hassan, while Tony Idigbe led the team of counsels to the first accused person - Atuche. Mike Ozekhome led the team of counsels to Ojo, the second accused. Both Atuche and Ojo are to remain in EFCC custody till Tuesday, November 3, 2009 when their bail application will be decided.

Amongst the charges, count 1 of the charges stated that “Francis Atuche whilst being the managing director and chief executive officer of Bank PHB plc and Charles Ojo while being the executive director of Bank PHB plc on or about the 30 June, 2009, within the jurisdiction of this Court were connected with the grant of credit facility in the total sum of N5 billion to PHB Asset Management Limited a company in which Francis Atuche and Charles Ojo are directors with no security contrary to accepted practice and you thereby committed an offence contrary to Section 15(1) (a) of the Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2, Laws of the Federation of Nigeria, 2004 and punishable under section 16(1) of the same Act.” 

Count two states “that you Francis Atuche whilst being the managing director and chief executive officer of Bank PHB plc and Charles Ojo whilst being the executive director of Bank PHB plc on or about 30 June, 2009, were connected with[b] the grant of credit facility in the total of N7 billion to Platinum Capital Limited, a company in which Francis Atuche and Charles Ojo are directors with no security contrary to accepted practice and you thereby committed an offence contrary to section 15(1) (a) of the Failed Banks (Recovery of Debts) and Financial Malpractices in Bank Act Cap F2, Laws of the Federation of Nigeria, 2004 and punishable under section 16(1) of the same Act.”[/b] Tony Idigbe, counsel to Atuche, said that they have application for bail which has also served been the EFCC prosecution team.

In count three of the charges, Atuche as managing director and CEO of Bank PHB plc and others (now at large) on or about the 1 November, 2007 were said to have granted credit facility in the sum of N4 billion to Petosan Oil and Gas Limited without adequate security contrary to bank regulations.

The former bank MD who was also the former Chief Executive officer (CEO) of BankPHB Plc was further alleged to have granted credit facilities in the total sum of N21.5 billion to the six companies which sum was above his approval limit as laid down by the regulations of BankPHB Plc.      
He was accused to have without prior approval of the CBN acquired share capital of Project Alpha United Kingdom, PHB Capital Trust Limited and Insurance PHB Limited in the total sum of N1. 380 billion thereby committing an offence contrary to Section 21(2) of BOFIA Cap B3, laws of Nigeria 2004. 

http://www.businessdayonline.com/index.php?option=com_content&view=article&id=6258:efcc-arraigns-atuche-ojo-over-n1133bn-fraud&catid=1:latest-news&Itemid=18

And on and on and on!!

One by one, these tiefs go pay for their crimes and people like naijaking go hide in shame.

critics of soludo don begin to talk say, if soludo could not foresee dis kidnapping and protect his aged father, then him no get de quality or fitness to rule anambra.

how person wey no fit protect him own papa, go fit guarantee the safety and security of a whole state? soludo talk say because of fear him relocate his wife and children to london, how convenient! na where him go relocate de people of anambra?

citics of soludo wey dey talk these tings have a point, but dat point no minimize de barbaric actions of de kidnappers.

small time de same savages wey do de kidnapping go begin call for their own country and begin talk of seccession.

soludo na de person wey get de best chance of replacing yar'adua as president and becoming de first igbo president of nigeria.

e dey very unfortunate say, na him own people go destroy soludo's chance. dem wan break soludo, na so dem go kill him old papa.

dis na de kind ting wey you go expect from savages!!

Obinoscopy:
@Ndu Chuks are you sure you are not the one who needs to check your reading skills. The Anambra State chairman of INEC said that since their Chairman's name is IWU meanin the law they have to obey the court ruling by excluding his name from the list of gubernatorial candidates for Anambra State pending when the suit is finally determined in higher courts (that is if the ruling is appealed). Thus it was consequent upon the action of theirs that Soludo's name was excluded, or is it possible for someone who is not on the gubernatorial list to attend the stakeholders meeting?

obinoscopy,

A judge simply restrained INEC from recognising Soludu as the PDP’s gubernatorial candidate in the forthcoming gubernatorial election in Anambra pending the hearing and determination of the motion on notice. The case has been adjourned to November 4th, 2009, for hearing on the motion on notice.

de ting wey i quote there, is a far cry from soludo being disqualified. de fat lady never sing yet.

Mamajama:
@Sagamite it's either you are a fool or does not know the difference between a forensic experts and a private investigator. Please go back and read the thread as well and explain why do you need a medical practitioner to investigate money laundry. Even my 8 years old child can read make better assumption as to this insensitive investigation

mamajama, quit while you can.

"Forensic" means "suitable for use in a court of law", and it is to that standard and potential outcome that forensic accountants generally have to work. Forensic accountants, also referred to as forensic auditors or investigative auditors, often have to give expert evidence at the eventual trial.

simple google for reveal this fact to you. abeg stop making a fool of ya self for here.

Today for Abuja:

Mallam go buy dollar: N151
Mallam go sell you dollar: N152

naijaking, abeg answer dis simple question if you dey bold enough, a simple yes or no, will suffice. no dribbling or playing with words.

question:

do ceos who can be proved to have approved loans worth billions of naira to companies that they own, deserve to be punished, since the act falls under financial crimes?

if you no fit answer yes or no, just tell us say you no fit answer yes or no!

deor03:
Prof Chukwuma Soludo's name has been removed from the list of governoship candidates for the next year's gubernatorial election in Anambra state based on the court ruling delivered today,


Source: channels news

why people like to dey sensationalize every ting? inec or any court did not remove soludo's name from next year's gubernatorial election.

inec simply ruled that the candidate of PDP would not be attending the commission’s stakeholders’ forum taking place in Awka Wednesday. that's it!!

una sabi read at all?

na good move be dis. most of de fuel importers dey owe money because government no pay dem as agreed. cbn or efcc need to leave those debtors alone, or at least work with dem until government pay those people.

de people wey need to answer case for court na de ceos and executives wey responsible for this fact as stated by sanisi: "we discovered that 75 per cent of the non-performing loans were given to the companies directly related to the CEOs of those institutions."

those ones need to answer their cases in court, and de ones wey guilty need to join bode george for prison.

hmmmm.

when court sentence tafa, former IG of police to 6 months in jail, people talk say, na de first time wey high level tief go prison be dat. 6 months no plenty, but na first small step.

now bode george judge don get two and a half years. dat na improvement from de 6 months wey tafa get. de bank ceo's and executives wey get case to answer should be very worried. we go begin see 5 years, 10years in prison sentences for these people.

as far as me i dey concerned, dis na good development. in a country where corruption be de order of de day, dis kind conviction signals an improvement and de birth of a new status quo.

small time, tribalists go begin say na only Yoruba tiefs dem don convict since tafa and bode be Yoruba.

e be like say you no read every ting for dat article. for example"

The CBN Governor said no Nigerian has so far been named or accused of taking the said bribe, stressing that no official reaction has come either from CBN or the Federal Government.

de governor come add say:

None of the people mentioned so far, among the recipients of the bribe, are Nigerians. Nobody has said that the bribe was given to somebody in CBN. It said it was given to some top government and political officials in Nigeria.

before we begin talk say no nigerian was linked, make we wait until de Austrailians finish their investigations.

i dey very disappointed with many of una wey supposedly be educated people. 

for perspective, N1trillion dey approximately equal to $7billion! if most of dat money still dey for nigeria, bailout for no necessary. forensic experts go examine books and trace de money to de foreign accounts where dem dey. de ones wey dem don take buy asset like buildings for inside nigeria no be problem, banks fit seize those buildings.

una don forget say, na forensic experts wey help us trace and recover abacha loot.

if dem pay de forensic experts $10million and dem help us trace and recover some of de bad loan proceeds of say, $1billion, in my view, dat na money well spent.

make we just wait and see. one ting dey certain, de days of looting nigerian banks under de pretext of loans are over.

many of una wey dey criticise this efcc move are a bit misinformed.

naijaking1:
Welcome.

najiaking, i know say you understood de irony of my last post. no come here with ya wayo again, you wan begin imply say i tink say sanusi do harm to de banking industry, ko?

no help me bold any ting for my post, i know de trick wey you wan viciously unleash on my stance. i no go let you do am.

see excerp from interview wey sanusi give:

We looked at the institutions and saw on their books huge non-performing loans and when we entered the institutions, we discovered that 75 per cent of the non-performing loans were given to the companies directly related to the CEOs of those institutions. We didn’t know that from outside.

Is that why a bank is set up? Is that why we raise capital? We raise those deposits so that we can give the money to our own companies. You can blame Soludo any which way you want but I can tell you that there was no way Soludo would have known that. We didn’t know until we went inside that company X was actually not different from the CEO of the bank. It was not until we had our people in the bank and we said let’s talk to the management of this company and you discover that they are nowhere to be found. It’s when you have an MD in the bank that you know this.

How did you give a company N5 billion and you don’t know where the company is, that is when you discover, and things start coming out and that[b] this company really was not different from the person approving the loans[/b].

sanisi na rascal, how him go  say de executives should be shot, were it not be for the rule of law? if de bolded part above na true, as we know they are, na life imprisonment dem deserve.

shooting dem no go help because dem no go dey rehabilitated. sanusi na wicked man for calling for execution. sanusi wicked pass de ceos wey dey responsible for all de nigerians wey lose their life savings due to irresponsible actions by these ceos.  if bank executive approve loan to a company which belongs to the said ceo, and the executive hid that fact by using a fictitious address for the said company, dat na financial crime, any which way you slice it.

wicked sanusi wey expose these attrocities don do too much harm to de banking indudtry. 

PapaBrowne:
Not even Sanusi the accuser has claimed that these CEO's stole money.

de ting wey dem accuse these ceo's of, is 1000% worse than stealing. if you buy shares from some of de banks for N6million and because of de irresponsible loans, your N6million is now worth N600,000, you go sabi say, dem don do you more harm than stealing ya money!

person wey give out loan of N45billion with N5billion collateral, don break every rule wey banks must operate under. dem don criminally put deposits at great risk. by de time wey efcc finish with dem, true picture go emerge.

PapaBrowne:
That na why most Nigerians dey suffer poverty because dem too they wish for person downfall.
If to say na Government people wey dey thief the money na im we dey wish badluck, e for better.

oh boy, government people and these bankers na birds of a feather, dem all need to pay for any crimes wey dem commit.  tief na tief, whether na banker or government official, dey irrelevant. court go determing who go go prison, soon enough.

na de bankers wey give irresponsible loan wish for his or her own downfall.  when dem carry money of depositors, share am, willy nilly, and tink say nobody go catch dem, they only have themselves to blame.

Beaf:
[size=14pt]CBN governor don crase o![/size]
I pity the Nigerian financial landscape. Boko Haram in charge. . .

oh boy, de one wey worse pass boko haram, na una leaders wey dey make policies and de policies dey lead to the deaths of 100's of nigerians daily. imagine how many lives will be saved if una leaders use funding for road construction responsibly.

banker wey fit give loan of N45billion with only N5billion collateral, worse pass any boko haram criminal activity. de statement wey dem attribute to sanusi, if true, na simply a reflection of the thoughts of most nigerians.

if one sergeant doe rise up and kill most of these people, most nigerians go jump for joy, with de exception of de ones wey dey diaspora, expectedly.

Those found culpable in this dastardly act are not vulnerable people that need our sympathy. If not for the rule of law, some of them should be tied to the stake and shot

sanusi don come again with rascality! e be like say dem catch am with carelessness dis time.

truth be told, de money wey these bank executives don mismanage (or steal) don pass de total combined amount wey people accuse ibb, obj, ibori, and others of stealing. de amount dey unbelievable. people no really fit process N1 trillion. 

i know say many of una here don express say, ibb, obj, or ibori, needs to be shot for various atrocities. na with de same emotion wey sanusi take make dat statement.  make una no forget say nigerian journalists don turn to sensationalism as their modus operandus.

de man just express his opinion and make una note say, his comment contained the following "If not for the rule of law"

frankly, most nigerians would agree with sanusi and most of dem sef go gree say, anyone wey court convict of stealing  billions of naira wey belong to nigerians, should be indeed shot, be they bankers, governors, ex-presidents, or others.

Nigeria's anti-corruption police said Friday they had shut down some 800 scam websites and busted 18 syndicates of email fraudsters in a drive to curb cyber-crime the country is notorious for.
"Over 800 fraudulent e-mail addresses have been identified and shut down," Economic and Financial Crimes Commission (EFCC) boss Farida Waziri said.

"There have been 18 arrests of high profile syndicates operating cyber-crime organisations," she added.

In a statement EFCC, which has previously relied on raiding cyber cafes and complaints from the public to clampdown on the crime, said it has now adopted smart technology working in conjunction with Microsoft, to track down fraudulent emails.

When operating at full capacity, within the next six months, the scheme, dubbed "eagle claw" should be able to forewarn around a quarter of million potential victims.

Nigeria has an unenviable reputation of being the epicentre of email scammers.

In March Spanish police arrested 23 people, mainly Nigerians, suspected of running an email and letter scam thought to have defrauded over 150 people in the United States and Europe.

The gang would send out thousands letters every day to potential victims, making them believe they had access to millions of dollars in inheritance funds which they needed to invest away.

Victims were swindled of their money when asked to pay processing fees or supply their bank account details into which the funds would be transferred.

Some of fraudsters hack into private email accounts of prominent personalities and send e-mails to their contacts claiming to be stranded and asking for emergency cash.


Source: http://www.breitbart.com/article.php?id=CNG.6a8cc43eefe7559c839cd6f85e74e8f8.731&show_article=1#

Onlytruth:
Why are you claiming a tribe that is not yours? If you hate Igbo so much, why go by Igbo screen name?

na for where i claim any tribe? i don tell you make you just ignore my post if you no like de tings wey i dey talk. e dey uncivilized to reign curses and abuses on people wey disagree with you. go start ya own biafra only website for extremists wey share every view wey you get. i no go stoop as low as you, to respond to you in kind.

Onlytruth:
Why is this idiot "ndu_chucks " still going by Igbo name here Why can't you simply change your name to your real tribal name and be straight for once! Are you that ashamed of your tribe but you are obsessed with Igbo. Idiot!

stop looking at everything through tribal lenses. if you no get any ting to add den keep quiet. no body force you to read any ting i post, if e dey bother you dat much, anytime you see my screen name, no read de post.

na de kind attitude wey you dey exhibit here dey kill una finish. why must everyone in de same tribe think alike? na only fools and tribalists go expect dat. i know say una no believe in democracy, unfortunately, no be you get dis site. you for don ban everyone wey no claim to be igbo from here. ewu can beer.

Beaf:
Practical ways to achieve these thing? It can easily be done on the back of the current crisis in the ND, the President has enough power to force it through if he really desires. He can force a National Conference. The other way would be what SapeleGuy has suggested, genuine electoral reform.
The current crisis is the perfect excuse to achieve a good thing and Yar Adua to write his name in gold. The alternative is cycles of crisis.

i agree with sapeleguy as well, de process no go be revolutionary.

when hunger catch most people enough, dem dey revolt, but nigerians dey too resilient for our own good. nigerian fit get only one grain of groundnut, but him go still tell you say hope dey, him go even dey praise de people wey take the tuwo and eba wey him supposed to eat!

as far as expecting yar'adua to push for national conference, don't hold your breath. if we happen to elect a progressive leader to head nigeria, we fit see significant improvements.

na only millitary coup fit get revolutionary effect, but obj don defang millitary boys; e dey almost impossible to carry out successful coup for nigeria now. so the struggle continues.