₦airaland Forum

where is beaf? fresh air joo

manager.Credit has virtually frozen in most banks, with many banks unable and unwilling to create risk assets. The situation is worse with the rescued banks. In all the rescued banks, credit requests, even N1, is often approved from head office.  All credit requests in any of those banks are usually sent to CBN for approval.  The stock market has virtually collapsed, without much prospects of recovery in the near term. The main problem is that the CBN has directed the banks to freeze margin loans.  “without margin loans, we are finished, we simply can't operate. In the last two years, the market has lost about a half of its total valuation. The real estate market, which showed brief signs of recovery last year, has relapsed. Many banks do not give mortgage facilities and so the market is in a funk. To sell a house or land is a big deal. I can tell you of some prime properties that have been in the market for over two years now. Even when you agree on prices, they prospects never really show up with the money!”
I think all Nigerians will be better off if sanusi can quickly find his  bearing in an office which for now seems too overwhelming for him.

He was full of fire and zeal and high on the euphoria of public praise after sacking the managing directors of eight banks. Two years on, how has the CBN Governor fared on his outlined goals for the Nigerian banking sector? Few discerning analysts were quick to point out that the reform agenda as outlined above was vague.
The quality of banks: The question is: What are the criteria to measure the quality of a bank. Is it quality of services, quality of the bank’s board, management and staff, quality of financial reporting or all of these combined. The CBN Governor never defined the criteria of quality of banks so it is quite difficult to measure him on this goal.
But we want to assume that when he said quality, he meant all the criteria we outlined above. So we look at quality of services of banks under two years of Sanusi. What policies have Sanusi put in place to enhance the quality of services of Nigerian banks?
Forgive us, but we cannot find anything Sanusi has done to increase the quality of services of Nigerian banks. What we find is that Sanusi’s actions have actually compounded the quality of service delivery in the banking sector. What Sanusi’s hasty reforms have done is to reduce the banking options in the Nigerian banking sector putting pressure on a few banks. Several reports, including banks’ returns to CBN for 2009 compared with 2010 have shown that four banks now control nearly 50 per cent of the market in the banking industry from ten banks that controlled this same share of the banking industry before Sanusi. On deposits, for instance, these four banks have N4.5 trillion out of N10.7 trillion deposits in the banking system.
The significance of this concentration of the Nigerian banking space is obvious on the impact this has had on the quality of service delivery. Beside poor services, customers are also subjected to pay all forms of charges by these leading banks as customers have little choice.
The four leading banks also now control more than 70 per cent of banking industry profit (Q1 2011 Reports). What Sanusi’s reform has done is to create four banks that are now too big to fail and 20 banks that are too fragile to offer meaningful support to the economy.
The current structure of Nigerian banks, a result of Sanusi’s reforms has created the biggest single threat to his second stated goal of ensuring financial stability in the Nigerian banking space. How do you enhance financial stability when a few banks have become financial monopolies?
How do you ensure a healthy evolution of the Nigeria financial sector, Sanusi’s third stated goal in the financial sector, when just four banks are now in charge of the Nigerian economy? Where is fair competition in the Nigerian banking sector? How do you strengthen the remaining 20 banks when they have been boxed into an uncomfortable corner in the Nigerian banking industry?
The quality and strength of majority of Nigerian banks have significantly dropped in two years of Sanusi. This is basically because Sanusi’s methods have damaged the ability of many Nigerian banks to compete in the Nigerian banking space. Sanusi’s hasty reforms has not had a damaging effect on just the so-called rescued banks, it has also damaged even the banks that were not rescued.
Non-rescued banks also sick?
The impact of Sanusi’s hasty reforms on even the healthy banks can be easily seen when the AMCON announced its intention to buy toxic assets from the rescued banks. It soon turned out that it was not just the rescued banks that rushed to AMCON to sell these toxic assets. Even the so-called non-rescued banks eventually sold significant amounts of toxic assets (without coercion) to AMCON. And interestingly even after the non-rescued banks sold toxic assets to AMCON, their 2010 financials show that most of them still made significant provisions for non-performing loans.
Why are the non-rescued banks still making significant loan loss provisions? Sanusi’s hasty actions on the so-called rescued banks, the publication of the names of entrepreneurs in national papers just because they took loans from banks, impacted negatively on the capacity of several of these entrepreneurs to either refinance or get fresh loans from banks resulting in many of the existing loans of these banks to go bad. Many bankers will tell you that the disruptions Sanusi’s actions caused in the financial system are still reverberating today.
The 2010 financials of many of the non rescued banks showed that many of them are still making significant provisions for non-performing loans while even some of them that claimed not to have significant non performing loans are now engaged in public disputes with their customers over non- performing loans in excess of N200 billion, which obviously were not previously provided for.
Businesses have been destroyed and many Nigerians have been thrown out of their jobs because their employers can no longer get new loans from banks. Nigerians should not be deceived. Nowhere in a capitalist economy are loans not the normal norm of running a business. What Sanusi’s actions have done is to create the perception that borrowing money to run a business is bad. It is not. In all places all over the world, businesses run basically on bank lending. Lending is the fuel for a capitalist economy.
Creating unemployment: Sanusi recently admitted that the rate of unemployment in Nigeria has hit 49 per cent of employable Nigerians. After making that statement, Nigerians should not forget that Sanusi in two years has contributed significantly to this level of unemployment in the country.
His activities in the banking sector have contributed to about 40,000 jobs being lost in the banking sector in two years. The disruption that he caused the banking sector and the subsequent starving of funds to the real sector from the banks has resulted in some manufacturing companies either closing down completely, or reducing their production capacity significantly. This act has also led to significant job losses in the real sector of the economy.
A good example of what Sanusi’s reform has done to the real sector is what is happening in the aviation sector of the economy. Most airlines are currently struggling to remain in business primarily because their existing loans have been cut off and they are also not getting fresh loans. Today, a good number have stopped flying and the few that are flying are doing so at great risks to their passengers. Yes, the CBN has stepped in by providing financial support to the aviation sector, in the same way it has done in many sectors of the economy.
The illogic of CBN special funds: But the illogic of the CBN various special funds intervention in the economy however is like the logic of the executioner who deliberately cuts off your legs and then hands you artificial legs, but then goes around telling the world of the good he has done to you by giving you artificial legs forgetting that you would not have needed those artificial legs in the first place, if he had not cut off your legs. It is also known that artificial legs can never be as effective and flexible as your original legs. It is the same with the CBN intervention funds. They are not as flexible or effective as bank loans though they are cheaper.
As any businessman will tell you, for any business to succeed, you need consistent access to finance.
The CBN funds are one-off intervention funds which do not give the businesses benefitting consistent access to working capital. That is the challenge with these funds. Most insiders will tell you that the CBN, in a few years will have the biggest portfolio of toxic assets in the banking system. This is primarily because the intervention funds they provided to the real sector has either been used to pay-off existing loans or have been used to buy inputs that had stalled because the businesses were not getting fresh loans from the banks. After the funds have been used for these initial purposes of refinancing existing loans or getting new inputs for production, the lack of fresh loans from banks has resulted in most companies not being able to continue production.
AMCON: In as much as the setting up of AMCON (first proposed by Prof. Chukwuma Soludo) is a good idea, Nigerians should watch the activities of AMCON carefully. What is clearly emerging is that AMCON is going to be used to do the dirty works of the CBN. The CBN has positioned AMCON to take over these loans that it has given that would most likely go bad. This is to cover the back of the CBN and prevent public outcry.
AMCON currently has over N3 trillion of toxic assets in its custody bought at prices that were negotiated with CBN appointed managers of rescued banks. This could not be described as fair pricing as being touted by those positioning to benefit from these huge assets now in possession of a government controlled body.
What determined which assets the rescued banks will sell to AMCON? Could some of these assets that were sold have been restructured and recovered and written back into the books of the banks? What value of assets that could have been recovered has been sold at significant discount to AMCON?
AMCON is also said to in future buy all bank toxic assets above five per cent of the banking industry. What does this mean? Besides encouraging reckless lending in the banking sector, it is also careful camouflage to ensure that the CBN creates an impression that the banking system is healthy. I challenge the CBN Governor to tell us where else in the world, where you have a body standing by to buy off toxic loans above a certain percentage from banks?
AMCON is an emergency bank rescue vehicle. Everywhere it is set up in the world, what it does is intervene just within a period of time to resolve banking challenges and not to be the toxic loan laundry arm of the CBN or the existing commercial banks.
The state of the banks the CBN took over: For close to two years, the CBN has installed its own management in eight banks under the pretext that these banks were about collapsing and need good ma

@jamalah
Tanx bro.Jarus u dey fall my hand.

Sanusi is a Boko Haram Banker. His bomb will soon detonate and blow up this nation's growing economy if not aggressively nipped in the bud. Mr president is not helping the matter too. Sanusi is done at the CBN. We dnt want such adamant egocentric religious bigot at such high leadership positions in the country. Make him the minister of tourism and give us somebody tht better understands the religious volatility of this country, pls !

I had believed that the bow-tie (Allan Greenspan style?) wearing whizz-kid from Kano would first make Nigerians learn to crawl before they run – modern day banking-methods wise. Why the hurry? Who is he trying to impress? Certainly, it is not the economic and or monetary interest of the itinerant Fulani herdsman. Who is he trying to hurt, essentially, the Dugbe, Balogun and Onitsha market mammy? As it now appears, what Sanusi’s mission is at the CBN can’t be reform. It is politics, in favor of Hausa-Fulani Islamic agenda pure and simple.

But, it looks like we can’t get a surfeit of Islam-induced headaches in modern Nigeria: Yesterday it was the election-induced riots which claimed more than 600 lives of innocent Nigerians because a Christian defeated a northern favored Moslem. Today, it is a Boko Haram onslaught from one side and the civilized approach of Mallam Lamido Sanusi and his concerted efforts to Islamize the CBN on the other. While the northern youths and its share of the Nigerian unemployed gangs are the executors of most of the religious crises which origins are northern Nigeria, northern Nigerian Islamic elites are very often, the think tank.

Findings reveal that in several of the banks, the board of directors are totally ineffectual and almost irrelevant in the affairs of the banks. The CBN also had clearly decided to change the ownership of the banks, by preventing the previous shareholders from re-acquiring the shares. This issue has been most controversial because of the political implications. Various people argued that the entire exercise was mostly driven by politics. Perhaps, unknown to the CBN, the common belief among a large section of Nigerians is that because the North felt shortchanged by the Chukwuma Soludo led CBN consolidation reforms, the Sanusi led CBN is determined to bring the North back into the banking industry. The ongoing reform is seen from such prism. Governor Sanusi has strenuously strained to deny these allegations, but it would appear that the more he denied them, the stranger they became. Sources close to him told that he has given up efforts at denial and has adopted an indifferent attitude.
However, Sanusi appears to be the main culprit in the perpetuation of this conspiracy theory. Perhaps, unwittingly, he has provided the most active ingredient in spreading this rumour. A former Central Banker who spoke anonymously on the issue said, “Sanusi's insistence on determining the preferred bidders for the rescued banks creates the impression of ulterior motives on his part. If what he wants really is to recapitalize the banks, then all he should be interested in is setting broad guidelines for the exercise and not choosing those who should do it.”
However, the CBN has denied any involvement with the recapitalization exercise beyond supervisory roles. Abdullahi Mohammed, Corporate Affairs manager of the CBN, tol, “The CBN does not comment on the transactions. It is solely between the banks and interested parties.” Sanusi himself has said so at different fora. But findings by reveal a different story. can the CBN is the prime driver of all the transactions, in the Finbank/FCMB merger, Access Bank/Intercontinental, Habib/PHB, etc. In each of these transactions, CBN has been actively arranging, encouraging, discouraging and promoting bids as it pleases! The irony is that it is not even a secret. All over Broad Street and Marina, stories of these goings-on fly openly. Many respondents spoke to were puzzled why CBN insists on denying its deep involvement in the process, and more important, why it insists on controlling it.
Emma Nwosu, former MD/CEO of ACB International Bank Plc told BH, “it is CBN's meddlesomeness and inability to recapitalize the banks that constitute the greatest problems facing the reform agenda.”

The CBN mistakenly read the situation as a financial crisis basically, which was caused by corrupt and egregious bankers. So it resolved on a three point approach; declare those banks distressed and remove their executive management, inject large sums of money in order to stabilize their operations and forestall a panic response by customers and possible collapse. Finally, the banks would be recapitalized.
On the surface, the programme appeared practical and credible. But  analyzing it carefully, revealed inherent contradictions and limitations which challenge their viability and even question their legality. From the time he announced the sacking of the executive management teams of the banks and injected money into them, it would appear as if the CBN had made up its mind to acquire the banks. As far as the CBN was concerned, its attitude was more like; since the shares of the banks had been eroded, they now belonged to the Nigerian people and no longer to the shareholders. So in managing the banks, the rescue team looked up to the CBN for instructions and not the boards of directors
Sanusi,certainly is out 2 destroy d so called rescued banks.

Businesses have been destroyed and many Nigerians have been thrown out of their jobs because their employers can no longer get new loans from banks. Nigerians should not be deceived. Nowhere in a capitalist economy are loans not the normal norm of running a business. What Sanusi’s actions have done is to create the perception that borrowing money to run a business is bad. It is not. In all places all over the world, businesses run basically on bank lending. Lending is the fuel for a capitalist economy.
Creating unemployment: Sanusi recently admitted that the rate of unemployment in Nigeria has hit 49 per cent of employable Nigerians. After making that statement, Nigerians should not forget that Sanusi in two years has contributed significantly to this level of unemployment in the country.
His activities in the banking sector have contributed to about 40,000 jobs being lost in the banking sector in two years. The disruption that he caused the banking sector and the subsequent starving of funds to the real sector from the banks has resulted in some manufacturing companies either closing down completely, or reducing their production capacity significantly. This act has also led to significant job losses in the real sector of the economy.
A good example of what Sanusi’s

Bishops of the Dioceses in the Church of Nigeria Anglican Communion have urged the Senate and Federal House of Representatives not to pass any bill that would make the proposed Islamic bank to see the light of the day.

The Anglican Bishop of Enugu, Rt. Rev. Emmanuel Chukwuma who disclosed this to newsmen in Enugu also warned the Central Bank of Nigeria (CBN) not to approve the establishment of the bank, insisting that the emergence of a religious bank would pose serious threat to the unity of the country.

Dr. Chukwuma, the bishops and the Primate of the Anglican Church, Most Rev. Nicholas Okoh, had rejected Islamic bank after their meeting recently, saying that they did so because of its “religious connotation.”

The bishops also argued that the CBN was not constitutionally empowered to establish an Islamic bank, pointing out that the bank would contravene the CBN Act.
Bishop Chukwuma disclosed that the Anglican Church would embark on a protest if the apex bank ignores its position on the issue, warning that they would equally pass a vote of no confidence on CBN if it approves the bank.

He insisted that there was no need to establish an Islamic bank in a multi-religious country like Nigeria, saying that the coming of the bank would only cause confusion in the country.
“Nigeria is not an Islamic country. Islamic bank is unconstitutional because it is not in the CBN Act. We reject the establishment of the bank. It has religious connotation. The Senate and House of Representatives should not pass the bill,” he said

Recapitalising the rescued banks is critical to resolving the current banking crisis. But this can only be done when the rescued banks are given a free hand to pursue their recapitalisation plans and, if necessary, look for and negotiate with investors of their choice and not investors dictated by the CBN.

Has the governor asked why Unity Bank and Wema Bank were able to recapitalise in record time while the other rescued banks with CBN-installed management and CBN-appointed financial advisers are yet to do the same almost two years after?

Does this not send a strong message on the best way to ensure that these rescued banks are recapitalised in record time? As it is now, the CBN’s attempt to recapitalise the rescued banks is like tying the hands of a man at his back, then drop him in a river and dare him to swim. He will surely sink. No amount of threat or force can make such a man swim. That is a simple fact. The CBN-installed management of these banks are the ropes around the hands of the drowning man. As long as these ropes are there, the banks will sink rather than swim.

None of the rescued banks need to be liquidated if given adequate time, a free hand and accommodation from the CBN through AMCON. They all have vital non-core assets that can be disposed off and proceeds used as part of their recapitalisation.

As the CBN governor recently admitted, Oceanic Bank has 10 per cent stake in Airtel. No doubt, this is worth several billions of naira and if sold can contribute to the recapitalisation of Oceanic Bank after AMCON recapitalises it to zero.

It is also known that Intercontinental Bank has strong non-banking subsidiaries like Intercontinental Homes and Intercontinental Wapic Insurance, all of which can be sold and proceeds used in partial recapitalisation.

Bank PHB and Union Bank and even the “non-systemic” important banks all have strong local and international subsidiaries that can be sold to aid in their recapitalisation.

A combination of non-core asset sales, a rights issue and strategic partnerships or investments from core investors are all options that should be on the table to help realise the recapitalisation of all the rescued banks.

What has emerged so far in the recapitalisation plan of the rescued banks is the pursuit of just a single strategy of core investor sales to the exclusion of all other options. This strategy has obviously failed and it is time to creatively move on.

wen will GEJ call dis akoki 2 order.sanusi is taking dis whole tin 2 far.sanusi rejected most of d prefered investor south by shareholders just because he had an interest in all d process.hw big enough is access 2 acquire inter. or hw do u imagine fcmb acquiring finbank.d whole process is flawed i must say.82 banks were recarpitalise to 25 during soludo era seamlessly y is d recarp of just 8 creating so mush noise.d treat of liquidation does not hold water as i wonder wat will hapen 2 over 1trillion deposit,over10,000 staff and above all d loss of confidence in d banking sector dis egoistic move will cost

who is GEJ deceiving.after bankrollin your campaign, wont d DANGOTE,OTEDOLA & CO recover their billions.dis is just d beginin

@asorocker.tanx bro.tot they said sanusi dey perform.4 close to two yrs sanusi keeps purseing perceived enemies @ d detriment of our economy

everyone keeps watching untill dis clueless mallam kill our economy wit his "as d spirit direct" policies

ykmotors.I need a clean GOLF 3 manual urgently.i stay in kaduna.can u post pictures?

You remember when we used to write multiple choice (objective) exams in school? Sometimes you don't know the answer or you are not totally sure why one answer will be the ideal/accurate one. But if you read the instructions right, you will notice it says "Choose the best answer and if one question is getting too hard for you, skip it" This election is like a multiple choice exam in many respects. You can either choose not to vote at all or vote for the "best" answer. And one way to look for the best answer is to know which options are obviously NOT the correct one. Leaving out the court jesters and clowns masquerading as candidates, we have only four front runners. I will say why three of them aren't it and why the fourth one is most likely it.


The options are:

A. Ribadu/Adeola
B. Shekarau/Oyegun
C. Goodluck/Sambo
D. Buhari/Bakare


Ribadu's only claim to fame is that he performed well in EFCC and so we should reward him with the Presidency. Come on! Running a parastatal is very different from running a country. And also, Nigeria has had enough god-father dramas in our politics, we don't need another one. We all know who the godfathers are in Action Congress. Moreover, the team lacks experience: both of them are "fresh." Bad idea! Even Obama that clamored for change and boasted he is a Washington outsider picked Joe Biden as his running mate. Biden is a Washington veteran and very experienced. A ticket needs to be balanced. Option A lacks that so lets eliminate it.


Shekarau is a smooth talker. I would have gladly lined up behind him if not that we know how he has handled Kano state for 8 years. He is a good communicator and can explain his ideas when he has one. But you can't equate Kano with Nigeria. Plus he is managing Kano badly. He points to the relatively peaceful Kano as his achievement while ignoring the obvious fact that other Northern states too can point to this "achievement." So why aren't their governors too running. I will tell you flatly, that Shekarau is just on an ego trip at best and at worst he is a PDP mercenary paid to dilute Buhari's vote in the North and he could be anywhere in between those two extremes. Whatever it is, he is not the answer. So we strike off Option B too.


Goodluck's story is a unique one but not inspiring. You want to live your life based on lucky breaks? You want to always hope someone dies off or miscalculates so you can get ahead? What is his story teaching us? That life is a zero sum game? That chance is how you succeed? The more you take a step back and evaluate Goodluck, the more you quake with fear. You wanna ask: What is our sin, as Nigerians, that a totally clueless man has been imposed on us by fate? When he was the governor of Bayelsa, what did he do? Nothing. He has been President for 10months now and vice President before that, what has he done? He has partnered with all known crooks and criminals in our political sphere just to win an election. If the unimaginable happens and he becomes an elected President, you can be sure the next four years will be like the last 12. I hope not. I pray not. Option C is not the answer.


We now come to Buhari. He was a military man in 1983. He came in to power because people like Jonathan were in power and were messing things up. Contrary to the way we are looking at it now 27 years after, people CHEERED when the military came back in 1983 because the politicians were competing with themselves on who can ruin the economy the most. He did what military men do, he was high handed, he didn't communicate with the masses but he was effective. No one can still say Buhari is rich or corrupt, they have hanged a lot of labels on his head but not that of ineptitude, ineffectiveness or corruption. Whatever weakness Buhari has, he has amply made up for it with his choice of Bakare. Bakare, with his group of progressives, need a general like Buhari as much as Buhari needs them. If life is about the choosing the best amongst competing alternatives, I will pitch my tent with this group. Of all four options, they are the most likely to turn Nigeria around. Let's vote them in. Let's tell others to vote them in. Do this and the Nigeria of our dreams will come sooner than we thought. I will pick Option D as the best answer.

@ozin y are u still posting THISDAY poll that has been discredited

Nigeria’s ruling People’s Democratic Party (PDP) was losing the parliamentary election in an embarrassing fashion in places where yesterday’s National Assembly elections took place, according to preliminary election numbers obtained by SaharaReporters from Kaduna, Benue, Gombe, Katsina, Nassarawa and Lagos.

From Gombe State, SaharaReporters obtained the following vote tally from Kofar Ajiya: PDP 10, ANPP 19 and CPC 121; Kofar Shetima: PDP 5 votes, ANNP 10 and CPCP 117; Kofar Sadauki: PDP 12 votes, CPC 132; and at Kofar Sarkin Dabe: PDP 1 vote and CPC with 48 votes.

Of equal interest, in Kaduna State, in Vice-President Sambo's own neighborhood of 500 voters, the PDP received only 100, and in Suba LGA, Kaduna out of 10,000 votes PDP only managed to get 500.


The elections were in progress before an unprecedented logistical collapse compelled the Independent National Electoral Commission (INEC) to cancel them as the agency had failed to deliver voting materials to millions of voters across the nation on Saturday.

Meanwhile, major opposition parties met in Abuja earlier today and plan to meet with INEC chairman, Mahmud Jega later to deliver a unanimous request that the election, now rescheduled for tomorrow, April 4, be cancelled by INEC and postponed for at least one week.

Honestly Nigerians are tired and no amount of white wash can seperate Jonathan from the vices of his party afterall he has been with them all along. In the common man polls which is made up of 90% of the populace General Buhari leads and still leading. Crowds that welcomes him every where he goes are not rented cos he can't afford. Please vote for honest leadership, he might have thrown people in Jail
and executed others when he was a military head of state, yes but were these people innocent? Theives, looters of public funds and drugs peddlers etc who had set back this nations merit whatever punishment they got.

My south south brother if there is any Nigerian to be praised for his honesty, integrity and patrotism is Buhari, he towers above Jonathan and all others in this regard. Jonathan failed as the deupty governor and governor of Beyelsa state. He was there when
the governor was looting the treasury possibly he took part too. Come to think of it his pronouncement in the past months makes me doubt if he actually merited the Phd degree he supposedly have and I am not in the lest surprise that he through his aides demanded for
questions in advance. The man is a joke and a clown and not fit to be the president of this great nation.

Haba my brother, come to think of it, can Jonathan look at Obasanjo or Annenih in the face and tell them no? Obviously not. Until he ask Annenih to explain what he did with over -N-300 billion assigned to his ministry for roads or Obasanjo who sunk billions of dollars into the power sector without lighting a bulb how they manage or rather mismanage our collective
wealth, I wil not be convinced he is not one of them.

clueless jona debating himself

D DEBATES HAS FURTHER  XPOSE D INCOMPETENCE OF PDP. BON CANOT SAID 2 B NEUTRAL WIT SIRIL STOBER,ILEMI OKOKA FROM NTA AND FRCN AS MODERATOR.SAMBO COULD NOT EVEN COMPOSE HIMSELF EVEN WITOUT D INTERLECTUAL BAKARE/ADEOLA.DID HE SAY HE'S A GRADUATE WIT ALL DIS "SO THEREFORE ENGLISH" I CRY 4 DIS COUNTRY.














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dis is our last chance.let vote out curruption,vote 4 change, vote bb 4 d sake of our child4en

gej despiration is killing him.BB popularity is growing by d day.


4 dis av decided 2 vote buhari/bakari come april

na 100m dem dey spend daily

tot dem say BB na 4 only N/W, JONA IS IN TROUBLE INDEED

and DBANJ gradually losing relevance, PDP HOW UNPOPULAR

ThisDay newspaper has been known for this ignoble business with PDP. Any time there is election in Nigeria, this paper usually go to town with concocted lies as opinion polls that is usually done in their hotel room and some Ghana Must Go bags from Aso-Rock filled with money to deceive Nigerians. This Day is one of the media organisations in Nigeria that should be taken as enemies of democracy and people of Nigeria.

What Nduka Obaigbena through ThisDay has done is to jump-start the rigging process for PDP so as to sow seed of confusion in people's mind b4 elections are held. Nduka Obaigbena should tell us where he conducted his opinion polls. With all that have been happening in GEJ campaigns, it will be idiotic to say that Jonathan would win the election by a whopping 60%! Is Obaigbena telling us that Jonathan will win North-East and South-West? Where did he get his figures from? This is just corruption in the highest order.

This is one of the reasons why Freedom of Information law is very paramount because if the law is now in operation Nigerians could easily ask Obaigbena to make known all the data he used to roll out his concocted figures for his ignoble polls.

Obaigbena is an example of Nigerians that should be stoned on the Streets of Nigeria for his conspiracy against Nigerians and Nigerian democracy. What Obaigbena has done is like a coup de-tat against our democracy. I am not saying that opinion polls should not be done. In fact I would like to see more of it but it must be credible and not a cash & carry business that Obaigbena has been doing for PDP since 2003.

The United States does not consider the ruling Peoples’ Democratic Party a political party, a US diplomatic cable leaked to the whistleblowing site, Wikileaks, and made exclusively available to NEXT has shown.

Charge d’ affair of the US embassy in Nigeria, Lisa Piascik, in a dispatch dated October 19, 2007, informed Washington that despite its labelling as a political party, the PDP did not meet “the common western understanding” of a political party.

According to Ms. Piascik, the PDP “lacks key ingredients most political parties share”.

After taking a swipe at the party’s mission statement, the American diplomat proceeded to deliver what is probably the most scathing analysis yet of the PDP.

“The PDP remains an agglomeration of interest groups formed around persons of prominence and power which are loosely tied together by a desire to remain in office and maintain access to the “national cake” or resources of the state”, Ms. Piascik declared.

“The PDP remains a highly fractious and opportunistic coalition of interests. True opposition, in the form of a powerful group with access to the pillars of power, comes from within the PDP - not from without as would be expected in a democratic party structure.”

in an unjust society,to b silent is a crime.VOTE BB 4 CHANGE!!!!!!

in an unjust society,to b silent is a crime.VOTE BB 4 CHANGE!!!!!!

d picture is getting clearer nigerians has been fooled enough!!!!!!!