Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,151,539 members, 7,812,676 topics. Date: Monday, 29 April 2024 at 05:23 PM

Shame On Us, As Cotonou Is Changing - Dele Momodu - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Shame On Us, As Cotonou Is Changing - Dele Momodu (2838 Views)

Dele Momodu: Enough Of The Blame Game And Paranoia Of Buhari’s Cabinet / Dele Momodu Writes Buhari, Says Nigerians Are Lamenting / Throwback Photo Of Buhari Shared By Dele Momodu (2) (3) (4)

(1) (2) (Reply) (Go Down)

Shame On Us, As Cotonou Is Changing - Dele Momodu by yampoo(m): 5:04am On Aug 21, 2009
Shame on Us, As Cotonou is Changing
Pendulum By Dele Momodu,email:delemomodu@thisdayonline.com, 08.15.2009


I  was in Cotonou last Sunday. It was my first visit to that serene city of Benin Republic in the last one year. The journey was expectedly bumpy from the Nigerian end. That is stale news, anyway. For some unexplainable reason, we’ve not been able to offer respectable leadership in Africa despite our love for the appellation “the giant of Africa.” Seme border was as dirty and boisterous as usual. All manner of touts swarmed everywhere. Beggars with varying degrees of afflictions on parade scratched the innocent windows of your car as if with a vengeance. You must be ultimately cruel not to pity these underprivileged members of our society. The story of Seme is the sorry story of our shame as a nation. In fact, the stretch from Badagry to Seme is a disgrace to mankind.

It would probably enter the Guinness Books of Records as the dirtiest place on earth. Bill Gates may realize the futility of eradicating mosquito and malaria from Africa if he ever visits that part of Nigeria. I’m not trying to be hyperbolic. To see is to believe. The swampy area has been flooded in this season of incessant rainy season. I saw a woman and her little daughter crossing the putrid river like ducks into their homes. Any error and they could easily be buried alive without any chance of a trace in this world. It is obvious that the ministry of environment has given up on that region.

The inhabitants themselves must be congratulated for staying alive in that filthy fiefdom, where the police, the customs, immigration, quarantine, area boys, all take turns to traumatize smugglers and non-smugglers alike. The horrendous tales of what smugglers dare to do are actually hilarious. But let’s leave that for another day. A journey through Seme is as unpredictable as it goes. It is indeed an Israelite’s journey. What should ordinarily take less than one hour may drag on for several hours. The experience must test your patience. And even your temperament.
I had my assistant with me who was supposed to be an expert on that route. He travels with our magazine every month by road to Ghana. He even turned out to be a novice on this occasion. After going through the Nigerian formalities, with as much ease as possible, we crossed to the Benin Republic part of the border. My brief to my assistant was to waste no time as I desperately wanted to enjoy whatever was left of the sunshine of Cotonou, one of the quietest cities on earth. I was looking forward to my usual dinner of peppered local chicken (mind you, not one of those fertilized chicken that tastes like paper). This was the real thing, slim, healthy, tasty, and prepared by the culinary experts at the Novotel Orisha.

Oh! That supernatural name. Orisha worship is still very popular among the devotees of heathen religion. It even enjoys an official public holiday in Benin Republic. In case you don’t know already, that’s the home country of the super songstress, Angelique Kidjo, whose song, Sango, in praise of the god of thunder, remains evergreen. I predict that after Ghana, Benin Republic would become the greatest West African wonder. Once Governor Babatunde Fashola is able to complete his ten lanes to and from Badagry, that axis would witness an unprecedented tourism boom that is certain to threaten the present influx of Nigerians to Ghana and The Gambia.

Back to Seme, and to reality. The French side is one place the officers are never in a hurry. If an officer goes on break, he takes the keys of the offices with him. And walks back majestically despite seeing the long queue of human sufferers. He’s the original “baba go slow”. You hand him your documents and tell him you need a laissez passé. He scans your documents with a toothcomb. He takes his time before announcing to you that because your car is new you must register with CFA35, 000, and mumbles another mumbo jumbo on the need to pay an extra CFA10, 000 for other documentation. But in reality, you only get an official receipt for CFA5, 000. The guys make all that money for themselves. But can you really blame them? It is the fault of the governments of ECOWAS, who spend all the time talking at ECOWAS summits without coming up with any major improvement to the lives of our people.

Our borders have been left for too long in the hands of illiterates and crooks. Ordinarily, I should be able to drive effortlessly to Cotonou without any sweat. But that’s not the case. I believe something has to be done urgently to clean up our borders of human beings who live like pigs in a piggery. The solution lies in privatizing the section to be used by non-commercial travelers.  The process should have been computerized in a way that my vehicle particulars can be swiped and registered instantly at a drive-through. ECOWAS citizens should also be able to have machine-readable passports which when scanned allows you to drive through immediately. Government would make all the money, and eliminate most of the corruption. Those who would have to go into offices are those traveling with commercial goods. On that trip I lost CFA40, 000 to those guys. Despite that, one irritant who was obviously drunk still came out of nowhere to block our passage. He wanted his own settlement. Tourism can never thrive under this condition.

Mercifully, Cotonou compensated for the wasted time and money. I could not believe the level of development that has taken place since my last visit during the launch of GLOBACOM Network in Benin. I saw GLO billboards standing proudly in most places. Everywhere looked more beautiful. Roads were being constructed and rehabilitated. Even flyovers that look so heavenly have been erected. Road-markings were seen everywhere. Street-lights stood ramrod on the major streets. Beach-houses were springing up along the coast-lines. The sea-port looked very busy, meaning business was bristling. I saw what good and visionary leadership could do.

All credits must go to one man, President Yayi Boni, who came into power barely three years ago. I knew the state he met Benin Republic. Yayi Boni was then a banker in Togo. He had returned home to cause the greatest political upset in that small country. His first move was to appoint credible professionals into government. He courageously locked his door against the politicians who had brought the country down on its knees. Yayi Boni also fought a courageous war against corruption. I know how difficult it must have been to cause a bloodless revolution in any country. He must have stepped on very powerful toes. But he was more concerned with his name in history. He wanted to make his mark, and leave a worthy legacy behind. President Yayi Boni accomplished most of these things in a country that has practically nothing to export to the world except the brains and talents of his people.

It was such a pleasurable experience driving through the streets of Cotonou. I felt proud as an African and was reassured that nothing was wrong, after-all, with the Blackman. After settling down in the hotel, I went down with my good friend, Oluwarotimi Obey-Fabiyi, the son of legendary musician Evangelist Ebenezer Obey-Fabiyi to the poolside to catch an early dinner. We were shocked to find several Nigerian families. A family had travelled all the way from Niger State. They looked very much at home. They had apparently escaped from the tension-soaked country of ours to savour the tranquility offered by Benin. This confirmed my earlier prediction that Benin is set to take over more of the Nigerian tourists soon. Cotonou is less than three hours to Lagos. More than 40 percent of its inhabitants speak the Yoruba language, and share Yoruba ancestry and culture.

We later met some friends who told us more about the miracles being performed all over Benin Republic. Education is now free for primary school pupils. Pregnant women who develop complications during child birth are now to be treated free of charges at government hospitals. About 600, 000 women have been offered small-scale loans for business under a government-controlled macro-finance scheme.

The Chinese have been brought in to undertake gigantic infrastructural projects. Please, let me add that we’ve underrated the Chinese for too long by always condemning the quality of their works. Truth is the Chinese are capable of delivering whatever you want as long as you can pay for it. In Cotonou, the Chinese are demonstrating their world-class skills. Cotonou is fast transforming into a modern city. Not that all is now well with Benin Republic. Several citizens complained about the toll the ambitious projects are taking on their country. Such is life. Nigerians are suffering much more. We’ll even be ready to endure more hardship but only if they’ll lead to visible results.

We were forced to think about our own dear country. It was my conclusion that our leaders must really hate Nigeria. The rape of our nation is with bitter savagery. It is without pity. A leader can only engage in such acts of debauchery out of acute lack of patriotism. Why would a leader award contracts running into billions of Naira without ever lifting a finger to execute it. What meanness could be worse than this?

Most Federal roads in Nigeria have been abandoned for over ten years. None of the Federal projects in Lagos has been touched ever since the seat of government moved to Abuja. Worse still, the Federal Government behaves like a jealous cat in its relationship with Lagos state. Federal properties are being sold off in a most prodigious manner. Lagos has been totally and mercilessly abandoned. The most important road in Nigeria, the Lagos-Ibadan Expressway, has virtually collapsed. It is now to be rescued by Bicourtney, a company owned by Wale Babalakin. Why did the government wait this long, and after some kleptomaniacs had stolen most of the money voted for such projects.

For two nights in Cotonou, we saw a serious nation at work and wondered why our own leaders cannot spare us this shame. As we drove back to Lagos, the big shame became even more palpable on our side of the road. We saw heaps and mountains of filth competing for space with human beings. It is incredible how human beings can survive a few minutes in that wasteland. Memories of Cotonou flooded back to us, but all we could do was to pray and hope that one day soon our best materials would be allowed to come to power. There must be a way.

All is Well that Ends Well

I’m beginning to think President Umar Musa Yar’Adua is a good man at heart even if I’m still convinced that he cannot move our country to the next level. Goodness alone cannot change a country. The president has shown that he reads newspapers or they read it to him by a few actions I was privy to in the last two years. The latest example for me is the intervention of President Yar’Adua in the bitter altercations between the Minister of Information and Telecommunications, Professor Dora Nkem Akunyili and the Executive Director of the National Communications Commission, Engineer Ernest Ndukwe over the licensing of national frequencies in the 2.3 GHz band. The Minister had smelt a rat in the transactions which were handled by the Board of NCC and concluded that they were not transparent enough.

Newspapers were agog with different slants of the mega-story. I also intervened in the debate in this column on June 20, 2009. My conclusion was that both the Minister and the Executive Director should embrace peace and return to the status quo. Incidentally, I ran into Mr. Ndukwe and his beautiful wife at the Nigerian Telecoms Awards in Lagos last Saturday. At first, they were not going to exchange pleasantries with me. They felt I was unkind to them by relying heavily on documents that came from the enemy camp. Mr Ndukwe even told Chief Olusegun Osoba who sat next to him that I relied on fake documents. I replied that when others wrote in his favour the document must have also come from his camp. At any rate, the duty of every writer is to form his own judgement, usually from empirical or circumstantial evidence.

I believe my position was fair to both parties. I had asked both camps to embrace peace and dialogue. Two days after my encounter with Mr. Ndukwe in Lagos, President Yar’Adua came out in support of my position on the matter. It was stated clearly that the transactions were not tidy enough, and as such the earlier license must be aborted. For me, it was a happy ending to a sad situation. Both parties must show maturity by ensuring that the next bid is not only transparent but very successful. There should be no victor, and no vanquished.

TO ME THIS DELE IS AN EMBRYO JOURNALIST AND A SYCOPHANT
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by naso2(m): 5:04pm On Aug 21, 2009
Right message, but wrong messenger.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by Afam(m): 5:18pm On Aug 21, 2009
na_so:

Right message, but wrong messenger.

GBAM!
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by Nobody: 5:21pm On Aug 21, 2009
as usual, another Nigerian telling us everywhere else is better than Nigeria.


anything new?
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by GEW: 5:22pm On Aug 21, 2009
na_so:

Right message, but wrong messenger.
true
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by blacksta(m): 5:38pm On Aug 21, 2009
According the tv shows i have seen this same dele momodu is forever seeking patronage from Govt officals
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by RichyBlacK(m): 5:44pm On Aug 21, 2009
Nigeria don suffer well well o.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by Eagle1(m): 10:02am On Aug 25, 2009
@poster

Bob Dee no go kill person with laughter. Na wa o. He talks from the 2 sides of his mouth. No be d same person go interview Abacha family 4 house?

I concur, right message, verrrrrry wrong messenger.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by Epiphany(m): 10:20am On Aug 25, 2009
Hahahahahahhahaha. Everyone seems to think what i am thinking. This guy is an ass kisser all the way.
I have read most of his articles, not because i find them informative, but because i just want to laugh sometimes. The guy is a chronic name dropper and a 'friend' to those who have wrecked Nigeria. I sometimes feel that most of what he writes is written to fill space. He should stick to what he is good at - celebrity journalism - and stop trying to write serious stuff.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by Nobody: 10:43am On Aug 25, 2009
Epiphany:

Hahahahahahhahaha. Everyone seems to think what i am thinking. This guy is an ass kisser all the way.
I have read most of his articles, not because i find them informative, but because i just want to laugh sometimes. The guy is a chronic name dropper and a 'friend' to those who have wrecked Nigeria. I sometimes feel that most of what he writes is written to fill space. He should stick to what he is good at - celebrity journalism - and stop trying to write serious stuff.

Gbam!!!!
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by anthony16(m): 12:47pm On Aug 25, 2009
peeps abeg no crucify d guy,if u move with politicians u need to kiss their asses if u want to eat d crumbs dat fall frm dere table. smiley
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by toshacer: 4:24pm On Aug 25, 2009
so what if he interviews Abacha family? Is it not obvious to everyone that other smaller African countries are definitely better than Nigeria? If you proud, senceless and goatish Nigerians can only takje a trip to these neighbouring countries for a day, come back and tell your own story, you will see how better and peaceful these countries are compared to the jungle you call Nigeria and the idiots you call Nigerians.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by Eagle1(m): 4:46pm On Aug 25, 2009
@tosh
There's something called civility. Anyway no probs. Now what I'm talking about is the moral import of an inclination to always hunt with the fox and run with the deer. Are the other African countries actually better? My beef with Bob Dee stems from his inability to take a principled position on isuues of governance. He will criticise a government and at the same time praise the leadership of that government. Here was the same man that has repeatedly attributed whatever he is to the late MKO only to be fraternising with the family of the most dreaded anti-democracy dark-goggled idiot that took Nigeria back several years.

The issues pls and not some arrant nonsense about some countries being better than Nigeria. You may want to pack ur bags and relocate to Rwanda for all I care.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by sjeezy8: 5:04pm On Aug 25, 2009
Cotonou is changing and Lagos is going back to its GLORY DAYS
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by IFELEKE(m): 6:45pm On Aug 25, 2009
dele momodu's comments should at best be seen as the utterances of a fellow suffering from greed induced mouth diarrhea.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by AloyEmeka6: 6:52pm On Aug 25, 2009
as usual, another Nigerian telling us everywhere else is better than Nigeria.
Abi ooo. I am tired of people abroad telling us how pathetic our land is. If you think we are suffering, come home and give us a helping hand. We are lost and don't know what else to do. Bring your expertise home and stop comparing us with beautiful areas in other african countries because we have them too. What you guys normally do is compare Ajegunle with the best part of Lome or Abidjan. Why not match ghetto for ghetto?. Abiriba is finer than most part of that stupid Lome.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by AloyEmeka6: 6:56pm On Aug 25, 2009
IFELEKE:

dele momodu's comments should at best be seen as the utterances of a fellow suffering from greed induced mouth diarrhea.
He built his empire using Abiola's ITT wealth. He continues to do otimkpu for Nigerians who specialize in embezzlement using ovation to showcase their pomp and pageantry so we can gawk at them in all glory. Fat Toad like him.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by toshacer: 8:16pm On Aug 25, 2009
see bad belle.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by jazzsoul: 8:27pm On Aug 25, 2009
Dele Momodu is part of the Nigerian problem instead of the solution. The media is a reflection of the Nigerian citizenry and they have been compromised by money and fear of the ruling elite and military Generals. Has Dele Momodu used the power of his medium to expose the blatant corruption and stealing of money meant for NEPA(PHCN) by politicians that has kept Nigeria in darkness? Does he know anything about investigative journalism?

Notice that Dele Momodu even complained about the bribe he paid at the border. He could have recorded that crime and forwarded the informtion to the authorities. Dele Momodu should take a ride along the Lagos-Ibadan highway and record the open solicitation of bribes by corrupt police and customs agents.

Dele Momodu is not a journalist but practices sycophantic servitude to corrupt and inept politicians and army Generals.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by mustafar1: 11:08pm On Aug 25, 2009
The Rise and Fall of Man
Pendulum By Dele Momodu,email:delemomodu@thisdayonline.com, 08.22.2009


These are not the best of times for members of our privileged class. Suddenly, it seems the world is coming to an end. And the poor are having a good laugh. They now know that the rich do sometimes cry. No one would have anticipated what befell the banking community in Nigeria last week Friday, as the big news began to spread like bushfire in harmattan.
Success is often very sweet. But failure is always very bitter. The reason is not far-fetched. Failure is the exact opposite of success. Success attracts many friends, brothers, sisters, and even parents. Failure on the other hand generates gossips, wanton attacks, derision, and wicked joy from the enemy camp. Unknown to some people, success and failure carry heavy penalties but there are only thin lines between both of them. As much as success is what we all seek in life, human beings always envy successful people.
This envy often turns into rabid hatred. In our part of the world, where rumour-mongering is big business, and the secrets of successes are usually hidden, it is easy to adduce reasons for the success of any man. If you happen to be a successful woman, the theory must be that you have slept your way to the top. If you are a man, it must be because you have some influential godfathers; or even that you are gay by nature. You are hardly in public glare until you appear successful. That is when your folks begin to concoct all manner of imageries about you.
The way many Nigerians reacted to the news of the sacked Managing Directors of some of our banks showed clearly that we are no longer capable of objective reasoning in this country. Most of the commentators were quick to pass the guilty verdict on these gentlemen and lady. No one was ready to give them the benefit of the doubt. Nigerians have become too disillusioned. Everyman we see with a measure of success must be a rogue. We don’t bother to investigate our allegations. Only a few weeks ago, the same people we now treat like common criminals were riding high. They were being decorated with laurels here and there. Even one of them, a man who has spent most of his life in banking was seen shaking hands with the influential Sultan of Sokoto. What went wrong in just a matter of days? Our “kill-and-go” mentality is too depressing. We jump to conclusions, and have no patience for seeking justifications for our conclusions. What is all these about?
There are all kinds of theories. The main is that the Central Bank Governor, Sanusi Lamido Sanusi, is one of those hotheads who had taken his time to understudy the way bankers operate in Nigeria. When the present assignment fell on his laps, he knew he had to work hard to justify the confidence President Shehu Musa Yar’Adua have reposed in him. The ghost of the former Governor, Charles Soludo was always hovering in the wings. Soludo had become an icon of sorts, and his deification was guaranteed by the consolidation of the banks. Many swore by his name. And it appeared no one could match that intimidating brilliance. But like all good things, there was always going to be a shortfall somewhere. The economy of the world had suddenly collapsed in America, and its virus would later spread to the most powerful nations on earth. Soludo came out to say Nigeria was safe. Dr. Ndi Okereke-Onyiuke of the Nigerian Stock Exchange also pronounced confidently that Nigeria was immune from the monumental tragedy that had befallen the richest economies. But no one was ready to explain what made us special.
Sooner than later, Soludo appeared to be speaking in different tongues. We became confused by the theories he propounded. And the presidency got increasingly worried. It seemed finally Soludo was tired. The banks represented our biggest achievements as a nation. Their shares were hot and tantalizing. You would have been foolish not to own some. Trust Nigerians and our penchant for bandwagon.
Like a thief in the night, the economic recession crept in on us. Shares began to crash, while we watched incredulously. Many had borrowed money from their banks to buy shares. Now that the shares were nothing better than tissue paper, how were they going to pay back? The bubble had gone burst. If Soludo was thought to be invincible, the freefall of our economy had become his albatross. The presidency was jittery. And something had to be done, here and now. Since an actor was always as good as his last performance, Soludo had to bow out as a tragic hero, while a new actor would have his own chance on stage.
That was how our bright man from Kano, Sanusi Lamido Sanusi, came on the scene. If many had underrated his abilities, the deft move he made last week changed all that. He struck like a thunderbolt. Or more like a volcanic eruption. The tremor reverberated far and wide. The ominous signs had always been there but it was not expected so soon. According to insiders, Sanusi had no choice but to fire the first powerful shot. And he fired with military precision.
I was at a funeral service in Ijebu-Igbo, Ogun State, when the earth-shaking news began to fly into my phones. The first sender had written that about eight Bank Managing Directors had been removed. I quickly sent a message to my good friend, Ms Ijeoma Nwogwugwu, the editor of THISDAY on Saturday to confirm the veracity of the “rumour”. She promptly replied that only five MDs were removed with immediate effect and gave me the names of the affected banks. Since I was in a Church, I immediately prayed for all of them. I thanked God for their lives. No matter the terrible mistakes that caused their misfortune that Black Friday, they had all worked hard in the past to build those enviable institutions. They made it possible for Nigerian brands to be known globally. No one becomes a bank MD overnight.
I prayed for their families. The family suffers the most when you have such a high-flying job. You are never around to enjoy the regular life with your husband or wife and the kids. I prayed that God will keep their families intact in these difficult times. I prayed for our leaders, that God should grant them the wisdom not to turn this terrible development into another circus show. I prayed for the Governor of the Central Bank, Sanusi Lamido Sanusi, not to get carried away by the adulations of some Nigerians who would goad him on and sooner abandon him mid-stream. I prayed for Charles Soludo, the father of modern economics in Nigeria, whose brilliant legacy was sure to be rubbished by Sanusi’s moves. I prayed for Sanusi’s spin-doctors to know when to stop the hype and face the arduous challenges ahead.
As I envisaged, the story instantly eclipsed all other stories. And as typical of us, the rumour-mills were agog with all manner of salacious tales. Many Nigerians were quick to deliver verdicts in their own courts. All the unfortunate bankers were found guilty; and even those who have been cleared by the apex bank were not spared by the rumour-mongers. I was saddened that we had not risen above this type of cold-bloodedness. When a man is down, all we can do is to pummel him. We are incapable of objective reasoning and analysis. We are always in a hurry to dabble into what we know little about. And we love rejoicing at the tragedy in the homes of others. The verdicts were mostly based on the presumptions that the bank MDs must have engaged in sharp practices. Suddenly, we are all Saints who must cast aspersions on others. The internet is filled with hate writings.
I’m worried for the soul of our country. No nation can descend to the level of bitterness I see all around us and survive. Even in our state of emergency, we must maintain a sharp focus. There are always a few innocent people in bad companies. Rushing to judgment before trial is not a civilized way to deal with these catastrophic developments in our banks. The military blood in our veins must be controlled. We cannot afford to make more mistakes. I always remember what Flight-Lieutenant Jerry John Rawlings once told us in an interview about the great revolution in Ghana. He said some influential members of the revolution attempted to settle scores with their enemies. Such can never be ruled out in a country where many hate successful people.
Already names of supposed debtors are flying everywhere. Horrendous figures are being bandied against such names. Nigerians are being entertained in the newspapers. We now know that being rich is very relative. And that those who have no access to bank loans and government contracts can hardly be mega-rich in this clime. It is a soothing therapy for the impoverished poor that litter our streets. I have no problems with all that. But we must seek the truth, and see this moment as a time for sober reflections. It is not a time to witch-hunt our enemies and competitors. Our language of criticism should be decent. We must seek knowledge of the subject at hand and resist the temptation of sensationalizing an issue that may tear apart our socio-economic fabric.
The newspapers are awash with claims and counter-claims even as I write this piece. It must be a serious cause for concern for all of us. The list published by the Central Bank is already being disputed by many of the borrowers. This is why we must not throw caution overboard. We must listen to all sides. And give them their rights of fair-hearing. I’m gladdened that the managements of Dangote Industries Limited, OANDO Plc, Rockson Engineering Limited, and Global Fleet Oil and Gas Limited have all come out to challenge the CBN list of non-performing debtors. I hope the removed bank MDs would not be too timid to assert their rights under the laws of Nigeria. The arbitrariness of doing things in our country must be challenged.
According to the reactions published in THISDAY two days ago, the figures published against the borrowers were as at May 2009. The CBN should have tarried awhile in order to compute and update the current and correct figures so as not to create any confusion and doubts in the minds of members of the public. It would have been nice to limit the potential collateral damages by first sending the Bank MDs on compulsory leave, and give them a chance to defend themselves at the apex bank. The panic the move has created would have been minimized.
The serial destruction of those MDs, without pausing to study the internal dynamics of each bank, according to many industry watchers, was too draconian. It amounted to throwing the babies away with the bath water. We must always consider the fact that some of these banks have huge investments abroad. It took many years of breathtaking hard-work for most of those countries to open up to our investors because of the negative perception that we are a nation of fraudsters. The CBN might have unwittingly damaged our external reputation further.
There is also the attendant danger of crippling those banks with the possibility of loss of faith on the part of the customers. The hoopla generated by the sudden departure of those powerful MDs is awesome. The CBN would have to provide a very comprehensive report on the true state of our banks, and the true debt portfolios of the borrowers. A situation where loans that are not yet due are already being touted as “bad loans” should be avoided
The present situation should not divert our attention from the lack of motion in the running of the day-to-day affairs of Nigeria by our government. This important subject should urgently return to the front-burner!
 



i just had to add that to this. read and enjoy where his above postulation is coming from
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by toshacer: 8:45am On Aug 26, 2009
bad belle kills.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by IFELEKE(m): 10:51am On Aug 26, 2009
Aloy~Emeka:

He built his empire using Abiola's ITT wealth. He continues to do otimkpu for Nigerians who specialize in embezzlement using ovation to showcase their pomp and pageantry so we can gawk at them in all glory. Fat Toad like him.
The sycophant probably thought we forgot that.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by Eagle1(m): 12:14pm On Aug 26, 2009
That was how our bright man from Kano, Sanusi Lamido Sanusi, came on the scene. If many had underrated his abilities, the deft move he made last week changed all that. He struck like a thunderbolt. Or more like a volcanic eruption. The tremor reverberated far and wide. The ominous signs had always been there but it was not expected so soon. According to insiders, Sanusi had no choice but to fire the first powerful shot. And he fired with military precision.
I was at a funeral service in Ijebu-Igbo, Ogun State, when the earth-shaking news began to fly into my phones. The first sender had written that about eight Bank Managing Directors had been removed. I quickly sent a message to my good friend, Ms Ijeoma Nwogwugwu, the editor of THISDAY on Saturday to confirm the veracity of the “rumour”. She promptly replied that only five MDs were removed with immediate effect and gave me the names of the affected banks. Since I was in a Church, I immediately prayed for all of them. I thanked God for their lives. No matter the terrible mistakes that caused their misfortune that Black Friday, they had all worked hard in the past to build those enviable institutions. They made it possible for Nigerian brands to be known globally. No one becomes a bank MD overnight.
I prayed for their families. The family suffers the most when you have such a high-flying job. You are never around to enjoy the regular life with your husband or wife and the kids. I prayed that God will keep their families intact in these difficult times. I prayed for our leaders, that God should grant them the wisdom not to turn this terrible development into another circus show. I prayed for the Governor of the Central Bank, Sanusi Lamido Sanusi, not to get carried away by the adulations of some Nigerians who would goad him on and sooner abandon him mid-stream. I prayed for Charles Soludo, the father of modern economics in Nigeria, whose brilliant legacy was sure to be rubbished by Sanusi’s moves. I prayed for Sanusi’s spin-doctors to know when to stop the hype and face the arduous challenges ahead.



Read this. P.R. Plenty. Advert nko? Na wa for this our Bon Dee
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by Eagle1(m): 12:18pm On Aug 26, 2009
in one instance adulation- 'brilliant man from Kano' , next instance rub mud - Sanusi trying to 'rubbish' his predecessors' legacies.

Bob Dee in his natural elements.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by Goldmind1(m): 1:14pm On Aug 26, 2009
Nigeria is a failed state
Nigeria is a failed state
Nigeria is a failed state
Nigeria is a failed state
Nigeria is a failed state
Nigeria is a failed state
Nigeria is a failed state
Nigeria is a failed state
Amen!!!!!!!!!!!!!!!
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by dgreatrock(m): 1:20pm On Aug 26, 2009
Gold-mind:

Nigeria is a failed state
Nigeria is a failed state
Nigeria is a failed state
Nigeria is a failed state
Nigeria is a failed state
Nigeria is a failed state
Nigeria is a failed state
Nigeria is a failed state
Amen!!!!!!!!!!!!!!!
why amen? the likes of you are so pathetic.
nigeria is a failed state, yes
but it wont remain one forever!
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by Eagle1(m): 1:30pm On Aug 26, 2009
@ rusted metal-mind

R E L O C A T E
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by KnowAll(m): 10:44am On Aug 27, 2009
Dele Momodu will lick anybody’s arse in other to write or being seen as an evangelist of progress, he would even lick an arse’s arse. Errant nonsense piece, he should have re-located his business to Cotonou.

I am fed up of people who are part of the blood and resources sucking vampire in our society, Momodu a man who peddles praises and encomiums on the most dishonest, un-reliable and fraudulent members of our society as a profession, writing the above piece is not only rich coming from him it is also hypocritical, he who sucks from the vampire is also a vampire.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by emyah(m): 1:30pm On Aug 27, 2009
Aloy~Emeka:

Abi ooo. I am tired of people abroad telling us how pathetic our land is. If you think we are suffering, come home and give us a helping hand. We are lost and don't know what else to do. Bring your expertise home and stop comparing us with beautiful areas in other african countries because we have them too. What you guys normally do is compare Ajegunle with the best part of Lome or Abidjan. Why not match ghetto for ghetto?. Abiriba is finer than most part of that stupid Lome.


i strongly believe with you that Abirriba is finer than many part of Africa both in the World, the problem With Nigeria is more than been fine's than Lome, we suppose to compering Nigeria as one of the best country in the World but that is fer from Nigeria .
the expertise, must of them is willing to come back home but know congreat platforms to practise your expert which has to be great by government.


Not; Thousand of Nigerians in abroad is contributing a lot to the economy.
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by Nobody: 1:37pm On Aug 27, 2009
KnowAll:

Dele Momodu will lick anybody’s arse in other to write or being seen as an evangelist of progress, he would even lick an arse’s arse. Errant nonsense piece, he should have re-located his business to Cotonou.

I am fed up of people who are part of the blood and resources sucking vampire in our society, Momodu a man who peddles praises and encomiums on the most dishonest, un-reliable and fraudulent members of our society as a profession, writing the above piece is not only rich coming from him it is also hypocritical, he who sucks from the vampire is also a vampire.



LMAO grin grin grin
that's harsh shocked
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by dgreatrock(m): 2:27pm On Aug 27, 2009
@aysomtyn
No, it is not harsh!
Re: Shame On Us, As Cotonou Is Changing - Dele Momodu by ogajim(m): 3:21pm On Aug 27, 2009
You guys need to get Dele Momodu into a gym fast, free food dey kill oooo!!!

(1) (2) (Reply)

Would Things Have Been Different in Nigeria if We Had A Principal Ethnic Group? / Buhari Says-there May Be No Nigeria In 2011 / Another Medical Doctor Kidnapped In Benin City

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 115
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.