₦airaland Forum

June 1 (Bloomberg) -- Nigerian President Umaru Yar’Adua nominated Lamido Sanusi to replace Chukwuma Soludo, whose term expires on June 3 as governor of the Central Bank of Nigeria, presidential spokesman Olusegun Adeniyi said in an e-mailed statement from the capital, Abuja, today.

Sanusi is the current chief executive officer of First Bank of Nigeria Plc, the country’s biggest lender by market value.

During his time in office, Soludo oversaw a program to raise the capital base of Nigerian banks, pruning their number to 25 from more than 80 through mergers and acquisitions. In the period, Nigeria’s foreign reserves grew threefold to more than $60 billion through savings on oil earnings, the country’s main export.

https://www.saharareporters.com/images/stories/lamido_sanusi_srweb.jpg
New CBN Governor Sanusi and his wife



Sources:
http://www.bloomberg.com/apps/news?pid=20601116&sid=agezg_bCmkMw&refer=africa
http://www.saharareporters.com/index.php?option=com_content&view=article&id=2891:finally-yaradua-nominates-sanusi-as-nigerias-central-bank-governor&catid=1:latest-news&Itemid=18

Afaukwu:
What has being an islamic scholar got to do with banking? Does being an islamic scholar make him less corrupt? Does religion make a Nigerian less corrupt?

de man pass ordinary islamic scholar. Him get sense well well, watch am here:

http://www.cnbc.com/id/15840232?video=1130139163&play=1

e be like say, CBN go begin pump $60million to the newly registered bureau de change dem, from this week. na him be say the supply of dollar go plenty. exchange rate for black market go soon drop to N150, by next month.

make una read CBN directive here: http://www.cenbank.org/out/publications/communique/mpd/2009/MPC%20Communique%20for%20May2009.pdf

na good news for person wey wan buy dollar be dis.

N168 Today for Abuja. Mallam tell me say e go drop more. e be like say CBN go soon release dollars for bureau de change dem.

Me I no think say Sanusi go replace Soludo. Person wey dem dey replace no dey announce the kind major policy change wey Soludo announce on Saturday.

THE Central Bank of Nigeria (CBN) will soon flood the Nigerian economy with dollars as it has liberalised the foreign exchange market. Governor of the CBN, Professor Chukwuma Soludo, announced the new measure, at the weekend, in Abuja, after a meeting of the Monetary Policy Committee (MPC).


Soludo, while briefing the press, disclosed that the MPC had decided to return to a regime of fully liberalised foreign exchange market over the next three months.


As a first set of measures towards the return to Wholesale Dutch Auction System (WDAS), Professor Soludo said the committee decided to increase the net foreign exchange open position for banks from one per cent to 2.5 per cent with immediate effect, while keeping in view the possibility of raising it further at the end of June 2009.


Announcing the lifting of suspension on interbank market , the apex bank boss said banks were no longer mandatorily required to sell to the CBN after five days. Instead, funds sourced from non Retail Dutch Auction System (RDAS) and non-oil export proceeds could now be used to fund the interbank market.


Also, Professor Soludo said the MPC had decided to remove the requirement that banks transact foreign exchange at one per cent around the CBN rate, stressing that the CBN itself would now participate in the interbank foreign exchange market at the prevailing rate.


Disclosing that the RDAS would now be done twice weekly, Professor Soludo said approval in principle had been granted to 50 non-bank class ‘A’ Bureau De Change (BDC) which would be selling US$60m every week.


“The BDCs are expected to sell at retail rate not more than 2.0 per cent above the CBN rate,” Professor Soludo disclosed. To further increase dollar outlets in the Nigerian economy, Professor Soludo said government agencies and oil companies could now keep their dollars as against the former practice of selling them to the apex bank.


Instead, Soludo said they have the discretion to sell foreign exchange at the interbank foreign exchange market or to the CBN with effect from today. To firm up the value of the Naira, Professor Soludo said the MPC had decided to mop up excess liquidity from the system.


He said this would be done using short-term instruments in tandem with the Debt Management Office (DMO), through the issuance of Federal Government bonds.


He said following the revision of money and foreign exchange markets development, the committee noted the need to address the problem of excess liquidity in the system without necessarily putting pressure on interest rates.


According to him, in view of the stability achieved in the forex market, MPC had consequently decided to review the series of control instituted in the last few months and return to the fully liberalised regime in the next three months.


“So, as a result of all these factors,” Soludo said, “the MPC has given the apex bank the mandate to mop up excess liquidity from the economy.”

See the link  http://www.tribune.com.ng/25052009/news/news3.html

This is quite funny.

WINSTON-SALEM, North Carolina - Police say a North Carolina teen who was thwarted as he tried to rob a store with a banana ate it before they could arrive.

Winston-Salem authorities say 17-year-old John Szwalla held the banana under his shirt when he entered the store, saying he had a gun and demanded money, the Winston-Salem Journal reported.

Owner Bobby Ray Mabe says he and a customer jumped Szwalla, holding him until deputies arrived. While they waited, Mabe says the teen ate the banana.

Mabe says deputies took pictures of the banana peel. Forsyth County Sheriff's office spokesman Maj. Brad Stanley says deputies joked about charging Szwalla with destroying evidence.

Szwalla faces a charge of attempted armed robbery. Jail officials say he doesn't have an attorney.

- AP


http://www.nzherald.co.nz/world/news/article.cfm?c_id=2&objectid=10572813

All of una wey dey call this man fool or stupid, make una think o. Just pray say God no go give you the kind palaver wey the man friend get. Until una get full details, e difficult to judge. The friend fit dey for life & death trouble and desperatlely need temporary place to stay.

Chineke go help us.

Temmey:
After seven minutes!!! Can this be real?

Authorities say the result is so rare that there are only a handful of known cases across the globe.

'It's very crazy, most people don't believe it can happen but it really can,' said Genny Thibodeaux, from Clear Diagnostics DNA Lab.

According to doctors, if a woman has more than one sexual partner while she is ovulating, there's a miniscule chance that different sperm cells can fertilise two separate eggs.
Dr Chris Dreiling, from the Paediatric Association of Dallas, told Fox News: 'Because sperm cells take a while to travel and eggs take a while to travel there can be an overlap'
https://i.dailymail.co.uk/i/pix/2009/05/18/article-1184028-04FA0C01000005DC-72_468x286.jpg
We are family: The couple and their twin boys - who are soon to be joined by another sibling I hope say she no get belle again already!

See the papa bom bois here o.  From de ting wey him say, na good man. (knock on wood)


https://i.dailymail.co.uk/i/pix/2009/05/18/article-1184028-04FA0DC3000005DC-300_468x425.jpg

That's my boy: James Harrison with his biological son Jordan. Despite his partner's infidelity, James has agreed to raise both twins as his own

oyb:
abeg post her face jare

ngwanu, see the mama face

https://news.sky.com/sky-news/content/StaticFile/jpg/2009/May/Week3/15283617.jpg

A woman has given birth to twin boys who each have a different father, it has emerged.

https://images.huffingtonpost.com/gen/80921/thumbs/s-WASHINGTON-large.jpg


Justin and Jordan Washington were born to mother Mia in Dallas, Texas seven minutes apart 11 months ago, the Daily Record reports.

Mia, who cheated on her partner with another man at the time she conceived, said that she had her twins' DNA tested after noticing how different they looked from each other.

She said: "I have twins who have different dads. It was the weirdest thing to think that two little babies could have grown in my stomach together and been born seven minutes apart but yet have different fathers.

"When they opened the envelope and delivered the news, my jaw dropped open."

Genny Thibodeaux of Clear Diagnostics DNA Lab said: "It's very crazy. Most people don't believe it can happen but it really can."

Mia said that her partner James Harrison would raise both twins as his own and that Justin can meet his biological father when he grows up if he wishes.


Source: http://www.chinadaily.com.cn/life/2009-05/20/content_7881793.htm

Ingenious protection.


https://farm4.static.flickr.com/3177/2848543874_ebf0fbfe14.jpg?v=0

No thief fit come near this car.

https://www.nerepublican.com/wp-content/uploads/2008/12/theft-prevention.jpg

This does not bode well for the rebranding efforts of the Nigerian government.  I feel sorry for the majority of Nigerians living in the USA that are law abiding citizens.  What a shame.

Full story here: http://www.newsrescue.com/2009/05/credit-card-id-theft-ring-busted/

The ring was based in the New York area with roots in Nigeria, police and prosecutors said. Suspects were accused of shipping stolen or illegally obtained credit cards to buyers around the world.

As of 11/05/2009 in Abuja: To Buy dollar N182; To Sell N180

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Even a blind man can see that Arsenal did not play well at all and deserved to lose the match. They were lucky in that the Russian guy was hot - no one can be that hot consistently.

Arsenal has been pitiful recently, I don't expect a change in their form.  My prediction: [size=16pt]Liverpool 3 Arsenal 1 [/size]

All of una dey here dey talk about tribalism because Sahara talk say Yaguda go replace Soludo. Una don dissappoint me finish. Una no ask wettin Isa Yaguda qualification be, na just tribalism una dey shout. How una want progress na? Yuguda is a former Aviation Minister and former Managing Director of Inland Bank

Yaguda qualify for the job. The thing wey una supposed to dey complain abount na the refinery wey dem wan start to build for Bauchi. But Wayo Hausa people dey count on una ignorance and tribalism and dem dey take those things to defeat una. I sorry for Ignorance.

una fit buy $1 with N170 for Abuja today, and if you get dollar, mallam go buy am, N160- N165

I change dollar for N173 this morning and Mallam dem dey sell for N175 for Lagos. Mallam tell me say dem dey expect price to go down because Soludo dey plan to supply more dollars.

make una no vex o, me I no sabi big English. but with the respect wey due the man, I believe say Soludo must be replaced right away.

The time wey oil be $25 a barrel, Okonjo-Iweala talk say our reserves been grow from $7 billion to $19 billion and our exchange rate remains fairly stable. make_una_read_am_here_See_whether_na_lie_I dey_talk

As of today, the reserve dey for almost $48billion. That na almost 3 times the amount wey be reserve when oil be $25/barrel. Even with dat, exchange rate dey stable.

My main question be say, why Soludo dey hoard all our reserve at a time, wey the economy need the reserve to take protect the economic well being of Naija? Reserve dey to handle emergency like the one way we dey experience now, no be so? Even if him take $2 billion every month from the reserve to take support the naira, dat go leave us with $24billion in 12 months, not to talk of the additional money wey him go accumulate from dollars wey dem go collect from other sources during that same period.

Yar'Adua need to remove that Soludo right away! Even people wey get pikin for obodo oyibo no fit send money, which kind thing be that?

Most of the products and raw materials wey dey come Naija go soon dry up, when hungry go become serious and riots and strikes go begin, him go know. The foolish Soludo say oil companies, or any other foreign companies wey dey operate for naija must not sell dollar to bureau de change. Na only CBN be their only customer now. Make una help me ask Soludo, since na only CBN dey collect all these dollars, na by how much the reserves don increase since him don start this him new program??

Instead make him go negotiate a suspension of payment of debt to Paris club and IMF for 2 years to help us survive the crisis, him dey there dey protect reserve foolishly.

If Soludo no get plan to go invade Iran soon so dat oil money go increase, I advise Baba go slow, make him go fast this time to show this foolish man out of office. shio!

Can any of our bankers tell me where to download Combined Certificate of Value and Origin (CCVO), commonly called Form C-16 ? Thanks in advance.

N182 to buy $1

una don turn Auto section to soap opra! yesterday, cashmoni attack Inspired say the car wey Inspired post na salvage. Today gastapo attack cashmoni and him use the same technique wey cashmoni use against Inspired yesterday.

cashmoni do mistake reply to busy body, but na carshopper id him take reply, but him don replace the entry with "why why why". so now we don know say cashmoni and carshopper na one and the same person.

me I dey enjoy the show. hehehehe.

Martins00:
I wonder wht this b*tch's problem is? If u wanna buy that car, simply call the owner, set an appointment to meet, pay, and its yours.

Do you want to eat the VIN, or are you sexually attracted to VINs?

@kuntash


You are obviously a Window shopper.

Martin00, why you dey disrespect woman like this. na oly you be dealer for here? Go see moto wey dealers like my dear Inspired, Jesarmy, and others put for here, all of them get VIN number. If you no dey hide something, post ya own VIN make we see. We don see say you get big muscle, wow you don call woman bit*ch. maybe you no get sisters or mama wey be women. ewu