Culled from Heal Nigeria

It is no more news that five banking executives were sacked by the CBN because of their banks’ exposure to excessively high level of non-performing loans. This exposure according to the CBN Governor was attributable to poor corporate governance practices, lax credit administration processes and the absence or non-adherence to credit risk management practices

The media however has been awash with all sorts of stories and conspiracy theories following the sacking of these five CEOs . Opinion seems divided. Some argue that the CBN Governor Lamido Sanusi, is only acting the scripts of the Northern Oligarchs who lost out during the last bank consolidation exercise. Some say, he is out to make an impression, and the only way he can do that is to rubbish Prof. Chukwuma Soludo’s legacy of banking consolidation. One article that however caught my attention was Chief Dele Momodu's titled “The rise and fall of a man”.

The article seems to focus on the public reaction to the recent sacking. Dele Momodu is of the opinion that we are a nation of envious people, looking for every opportunity launch scathing attacks on successful people within the society. He further noted that we have become so disillusioned, and therefore incapable of objective reasoning. According to him “No one was ready to give them (Banks CEOs) the benefit of the doubt. Nigerians have become too disillusioned. Everyman we see with a measure of success must be a rogue”. Mr Momodu also couldn’t understand how a man who spent his whole life in banking profession, and that was seen shaking hands with the Sultan of Sokoto days before his sack can be subject of savage media attack.

I’m in agreement with Dele Momodu that it is inappropriate for any person to gloat over the misery other individuals, especially if you are ignorant of the facts behind their travails. However, the recent sacking of the banking executives is somewhat different. Most of the stories reported in the media about the allegations of impropriety against the executives were not concocted out of rumours. Let’s get this right. The CBN conducted an investigation. The bank executives were found guilty of sharp banking practices, and the CBN took appropriate action.

So what exactly is the gist of Mr Momodu’s write-up? Is he saying that envy is only peculiar to Nigeria? Does he want us to believe that the ‘Pull Him Down” syndrome only exists in the DNA of the average Nigerian. Or is Dele Momodu agitating for a soft landing for the sacked CEOs?

Envy is not peculiar to Africa, neither is it just a Nigerian problem. In every society, there is the tendency for people to be envious of others that are perceived to be more successful than they are. There is also a strong correlation between poverty and envy. Unfortunately, some of the so-called big men in Nigeria don’t understand this. Some of these rich men are very insensitive to the plight of the common man. They look for every opportunity to flaunt their wealth (whether it is genuine or fraudulent), and even sometimes oppress the poor. As individuals, we need to learn to conduct ourselves in humility, especially in a society with some much poverty and deprivation. For as long as the masses see themselves been oppressed by the rich, then the sort of wanton attacks launched against the bank CEOs will be inevitable.

Truth be told. The fact that a former CEO was seen shaking hands with the Sultan of Sokoto doesn’t mean appropriate action shouldn’t be taken against him. It is not the first time that corporate high-flyers or highly influential individuals have been found guilty of mismanagement and financial irregularities. Dele Momodu noted that one of the CEO spent his whole life in the banking profession. But does Dele Momodu know that Bernard Madoff, who ran the biggest finance scam in history, also spent his whole life in finance/investment banking. And at one time Madoff was non-executive Chairman of NASDAQ stock exchange. Can Dele Momodu remember Kenneth Lay, the former Chairman of Enron? Kenneth Lay oversaw the biggest corporate fraud in the US history? Ken Lay was former President Bush right hand man, who was at one time considered for the position of Treasury Secretary. We may also have to remind Mr Momodu about the former Billionaire Sir Alan Stanford. So, let’s not be deceived, Nigeria is not exception and perhaps worse. At least the Madoff, Lay and Stanford of this world were convicted and jailed. In Nigeria, our Madoffs are the Pro-Chancellors of our universities. They are President of professional institutions. They run our stock exchange. Let’s make not mistake, the Nigeria system breeds corruption. The more influential you are, the higher the propensity for corruption. These high-flyers sleep, drink and eat in the corridor of power. They are the ones celebrated on the pages of the national newspapers. They are the same people bestowed with national honours. They are the biggest donors at corporate and social functions.

So having read Dele Momodu’s article, I struggled to understand where he is coming from. Is he suggesting that people shouldn’t talk? If we can openly criticise the corrupt former governors, most of who - strictly speaking – have not been found guilty of corruption, why can’t we talk about bank CEOs? If it is right to launch scathing attacks on President Yar’Adua because of his incompetence, why is it not right to criticise the sharp practices of the banks CEOs?

Mr SBO from aussie, I regret to inform you that youre wrong and momodu is right. . Our people are so frustrated with their inadequaciesand lack of progress hindered by anon-working system that the mere sight of a big man gone down gives them a sigh of relief and temporary escape. .This is why the EFCCwould use the mdia to proclaim a suspect guily until proven innocent so the image of that suspect is already laundered and bastardized long before he is paraded before a judge in a court of law.

It was used by ribadu , used by sanusi now and used by waziri. . .Our people love the drama.Theyve come to realize this so hey mudsling and use the media and all other means necessary to tarnish your name and image as badly as they can before your first court date.

Nigerians love the fall. .they celebrate the rise,but they love the fall more.Makes less successful people feel better about themselves.MOmoDU is very right.

Wow!   This guy beat me to writing rejoinder to that Dele Momodu article. I have been thinking and conceiving my rejoinder to that article since I read it in his column, PENdulum, this week Sunday. I have already captioned my rejoinder: DELE MOMODU: THE COLUMNIST AS A PRAISE-SINGER but have not had time to sit down and pen it.

My own rejoinder however slightly differs from the guy up there's. I do not support envy and Pull Him Syndrome syndrome, and Indeed, in my piece, ENTER SANUSI THE SANITY HARBINGER , I also expressed reservation over how some people went beyond issues to jubilate over the sack of Ibru and Akingbola, but Momodu's slighting of a genuine move, to me, is praise-singing taken too far. I'm not unaware of his association with the Akingbolas and Ibrus. My own piece is more general. I follow Dele Momodu's writings in his Sunday column, PENdulum, and if he's not praising MKO Abiola or Mike Adenuga, he will be praising Ghana. The most predictable columnist. It's not a crime to praise-sing really, but I just can't help penning my view of his writings in that my DELE MOMODU: THE COLUMNIST AS A PRAISE-SINGER and it was triggered by his latest piece on the sacked bank chiefs.

@SBO and Jarus:

Seems like you guys are not the only ones wanting to reply Momodu, concerning his articles in his so called column.
While i understand that being a columnist is a very demanding responsibility, with having to creatively think of what to write daily/weekly/monthly, it is no excuse to continually pen meaningless and un-intelligent articles. I am a frequent 'browser' of Momodu's articles and can honestly say that his articles are all the same, predictable and quite elementary to say the least. With some of his famous lines such as, 'my friend. . .', my brother. . . ', 'Uncle this and Aunty that', his articles end up being more of name dropping exercises than informative and analytical pieces. He mostly seeks to inform us about his globetrotting, from Ghana to the USA to Uk etc, than give practical, REAL PRACTICAL steps as to how our country can be Changed.

Like Jarus also stated Momodu's devotion to the 'saintliness' of MKO and benevolence of Adenuga are not lost on many of us. All his articles must have some reference to MKO otherwise, that article is not seen as complete. Apart from these two behemoths, his relationship with all other moneybags in Nigeria has not gone un-noticed. Apart from these moneybags, his 'hand - in - glove' relationship with people in power is noted. More frequent statements like, 'When i saw with Aunty Dora at. . .' or 'At a party i sat between Ndukwe and. . .'. As far as i am concerned, he is just an avid name dropper and a celebrity sycophant.

In summary, i have nothing against this guy, as i admit that he is doing what he has to do to survive in the 'jungle' called Nigeria. One thing i can say though (like i mentioned in another thread) is that he should stick to celebrity journalism - publishing and maintaining ovation and not try to insult the rest of us with his 'serious and analytical' articles. Many of us would respect him much more that way, afterall, i admit that i love the colour and glossy outlook of his ovation magazine - which has often glorified those who have raped us.

For a guy that is being taken so seriously by nigerians as a top class jornalist,i think he is full of shit,that is AKARA talk.

If the bank executives are criminally wrong in the discharge of their duties,they should be strictly penalized for it,connections or not.

To whom much is given,much is expected from.

Epiphany:

@SBO and Jarus:

Seems like you guys are not the only ones wanting to reply Momodu, concerning his articles in his so called column.
While i understand that being a columnist is a very demanding responsibility, with having to creatively think of what to write daily/weekly/monthly, it is no excuse to continually pen meaningless and un-intelligent articles. I am a frequent 'browser' of Momodu's articles and can honestly say that his articles are all the same, predictable and quite elementary to say the least. With some of his famous lines such as, 'my friend. . .', my brother. . . ', 'Uncle this and Aunty that', his articles end up being more of name dropping exercises than informative and analytical pieces. He mostly seeks to inform us about his globetrotting, from Ghana to the USA to Uk etc, than give practical, REAL PRACTICAL steps as to how our country can be Changed.

Like Jarus also stated Momodu's devotion to the 'saintliness' of MKO and benevolence of Adenuga are not lost on many of us. All his articles must have some reference to MKO otherwise, that article is not seen as complete. Apart from these two behemoths, his relationship with all other moneybags in Nigeria has not gone un-noticed. Apart from these moneybags, his 'hand - in - glove' relationship with people in power is noted. More frequent statements like, 'When i saw with Aunty Dora at. . .' or 'At a party i sat between Ndukwe and. . .'. As far as i am concerned, he is just an avid name dropper and a celebrity sycophant.

In summary, i have nothing against this guy, as i admit that he is doing what he has to do to survive in the 'jungle' called Nigeria. One thing i can say though (like i mentioned in another thread) is that he should stick to celebrity journalism - publishing and maintaining ovation and not try to insult the rest of us with his 'serious and analytical' articles. Many of us would respect him much more that way, afterall, i admit that i love the colour and glossy outlook of his ovation magazine - which has often glorified those who have raped us.

I'm so surprised to know I'm not the only one having this opinion.
Dele Momodu should stick to his celebrity journalism(which is about praise-singing or as nairalanders would call it, ass-licking) where he's earning his bucks and which has made him one of Nigeria's richest journalists.
Most of his analyses in serious political and economic debates are at most laughable.

More frequent statements like, 'When i saw with Aunty Dora at. . .' or 'At a party i sat between Ndukwe and. . .'.

Makes me remember one of his recent pieces where all he had to write was how he sat in the 3rd row in Michael Jackson's burial.

Dele Momodu practices sensational journalism it is ok.

he makes his living from it.

at least we know is type of journalism.

Jarus would you please go ahead and publish ur rejoinder anyway. i'll still want to read it. the title get enough juice to it.

yes nigerians have the PHD DNA buried in them, but mr Ovation should have focused his article on that instead of going off on a tangent by taking shots outside of his foto paparazzi realm aka the actions against the bank CEO's.

quote
[table]For a guy that is being taken so seriously by nigerians as a top class jornalist,i think he is full of shit,that is AKARA talk[/table]

dele momodu sorry is not a top class anything

Ovation is nothing but a photo album of none etities who got lucky most of them are crooks

must_a_far:

Jarus would you please go ahead and publish your rejoinder anyway. i'll still want to read it. the title get enough juice to it.

I hope I'm chanced to sit down and write it this weekend. I was actually considering giving it title like DELE MOMODU: ABUSE OF COLUMNISM or DELE MOMODU: A COLUMNIST OR A PRAISE-SINGER? but later settled for that topic because those sound insultive.

nura_abi:

nura_abi:

dele stands for what is wrong in nigeria. he is one big psycophant and that is because i dont know what they call people like him in his native language

Jarus:

Wow! This guy beat me to writing rejoinder to that Dele Momodu article. I have been thinking and conceiving my rejoinder to that article since I read it in his column, PENdulum, this week Sunday. I have already captioned my rejoinder: DELE MOMODU: THE COLUMNIST AS A PRAISE-SINGER but have not had time to sit down and pen it.

My own rejoinder however slightly differs from the guy up there's. I do not support envy and Pull Him Syndrome syndrome, and Indeed, in my piece, ENTER SANUSI THE SANITY HARBINGER , I also expressed reservation over how some people went beyond issues to jubilate over the sack of Ibru and Akingbola, but Momodu's slighting of a genuine move, to me, is praise-singing taken too far. I'm not unaware of his association with the Akingbolas and Ibrus. My own piece is more general. I follow Dele Momodu's writings in his Sunday column, PENdulum, and if he's not praising MKO Abiola or Mike Adenuga, he will be praising Ghana. The most predictable columnist. It's not a crime to praise-sing really, but I just can't help penning my view of his writings in that my DELE MOMODU: THE COLUMNIST AS A PRAISE-SINGER and it was triggered by his latest piece on the sacked bank chiefs.

I will be happy to paste your Rejoinder on my blogsite.

Jarus:

I hope I'm chanced to sit down and write it this weekend. I was actually considering giving it title like DELE MOMODU: ABUSE OF COLUMNISM or DELE MOMODU: A COLUMNIST OR A PRAISE-SINGER? but later settled for that topic because those sound insultive.

Suggestions of the top of my head

1. Dele Momodu: Journalism in Psycophancy

2. Songs of Praise - The abuse of a column

3. Ovations - The Dele Momodu Columns

biina:

Suggestions of the top of my head

2. Songs of Praise - The abuse of a column

Lol. Kindly give me permission to use this. . . Hahahahaha

Epiphany:

Lol. Kindly give me permission to use this. . . Hahahahaha

That would be at the discretion of Jarus

biina:

That would be at the discretion of Jarus

Oh, did not see that. Jarus is already using it.

But seriously, i think people like Momodu should be told to shut up. Why is he trying to move from praise singing to critical political and social analyses? I have the sneaky feeling that he is writing all these things now in the bid to make himself available - one day soon - for political office.

We should not be surprised come 2011, if Dele Momodu runs for office (governor, senate, house of reps etc) somewhere. Worst case is that he becomes the mouthpiece of someone in power - like Segun Adeniyi is doing for Yar' Adua.

Epiphany:

Oh, did not see that. Jarus is already using it.

But seriously, i think people like Momodu should be told to shut up. Why is he trying to move from praise singing to critical political and social analyses? I have the sneaky feeling that he is writing all these things now in the bid to make himself available - one day soon - for political office.

We should not be surprised come 2011, if Dele Momodu runs for office (governor, senate, house of reps etc) somewhere. Worst case is that he becomes the mouthpiece of someone in power - like Segun Adeniyi is doing for Yar' Adua.

No, I'm not using that one. I'm spoilt with choices, but I've settled for DELE MOMODU: THE COLUMNIST AS A PRAISE-SINGER

So feel free to use any other title mentioned here.

That guy doesn't deserve more than a single description:JOKE

Dele Momodu (owambe reporter)=JOKE