₦airaland Forum

I support the motion!!

Jonathan's Goodluck has rubbed off on Nitel!
What a price! I remember Orascom Telecom offered somewhere in the region of $250 million some 3 years ago.
Thats good news men!!

@Poster
Don't you feel shameless getting paid for a job this shameful??
Get a better Job!

^^^^^^^^
Graduating from nonsense to even more nonsense!!Here, have some>>>>>
Yar Adua returned to the country since noooow! He is now living in the creeks of the Niger Delta. He has joined MEND in its struggle.
Even sef, Turai has become the grandmother of the President of Bakassi. She accept the position in all humility.
Ahen, Babangida will soon be made the chairman of the European Union.
Obasanjo has now been appointed by Sanusi as the new CEO of Zenith Bank.

For those doubting,watch the events that will unfold in the coming few days!!

Buhari and Fashola share very different ideologies.
Buhari is a deep conservative who believes in a welfare system, just like Awolowo, Gani, . Conservatives usually believe Government can do it all. It is not neccesarily a negative thing, but I personally dislike it.

Fashola on the other hand is a progressive, sharing the same ideology with the likes of Obasanjo. Progressives believe the private sector can handle everything. For them,the government's responsibility is to create an enabling environment.

If you put Fashola and Buhari in the same ship, they will have major problems in a few months as they would hardly agree on anything.

Buhari should be matched with a conservative while Fashola should be matched with a Progressive.

That said, I think we should clear this idea from our head that 2011 is the North's turn. If Jonathan performs excellently over the next one year, then he should be given full support to continue till 2015 and if again he performs excellently 2019.

^^^^^^^
Yeah, Warri is an Oil Town/City and has the highest concentration of large scale Oil & Gas related investments in all of Africa running in billions of Dollars all within its environs.
Escravos Gas to Liquid project($5.9 Billion) is currently been constructed, Warri Refining & Petrochemicals plant, Multi Billion dollar Delta Steel Company,  Escravos Tank Farm, and a host of other Oil and Gas projects are all located within Warri  and environs.


If you look at the simulation below, you'd realize Texaco(18) and Chevron(19)^{{same company now}} already have facilities existing within the Business Park.

Hehe Biina!
U are using Covey's manuals wrongly!!
Two things
1)The analogy is totally wrong.
2)If the analogy is right, then it actually indicts Sanusi's faulty actions.

Soludo met a decrepit system and built it from scratch. The Banking sector was not in a rapid growth stage. Infact it was dead. All our 89 banks combined were smaller than the 4th largest bank in South Africa. Soludo created the boom! He layed the golden eggs.

Enter Sanusi! Fine he probably met a breaking down and  rusted Sick Goose. Question is, while investing heavily in downtime and maintenance, are you supposed to destroy all the existing machinery, just because you want to make a point that your predecessor and his workers overused the goose? Sanusi broke the house down to the foundation just so he could fix a few bricks!


Anyways, the same Covey's Seven Habits explains how distorted perception affects our view on issues. Remember the story he tells about a Lecturer who presents the same picture differently to 2 different sets of students in a classroom. . . . . . . . .and how the two sets had  2 different ideas about the picture. . . .
Yes! Same goes for your views on Soludo and Sanusi. You disliked Soludo long before Sanusi came on board,hence whoever replaced Soludo would have been OK by you. Your support for Sanusi is mainly based on your dislike for Soludo.
If not, you tell me what Sanusi is about(economically) that gives you confinndence in him?

Aisha2. . . . . .
You are a Hero! A one in a million kind!
Wonderful works that U do! More grease 2 ur elbow!!

Thanks big for the opportunity 2 partake!Thanks!!

^^^^^^
Naaah! This is not one of those projects that never leave the drawing board.
Me sef sha, I dislike graphical illustrations, but truly this is different. It is real.
This is a project with Oil industry backing! All the fat cats are in on it. Money is not exactly a problem.
Bulldozers have actually hit site already!!

Below is a real time Google earth (becomrich styled) illustration

But seriously, this project is in motion. It probably would have started earlier if not all this banking industry palaver.

If you look at the illustration above, you will see it matches perfectly with the Google earth Picture!

The construction of the World class Warri Industrial Business Park is in motion!!

The project is an almost entirely private sector project with the Delta State Government contributing only 20% of the project.
Excellent project I must say. It is a world class park with on board 24/7 independent power supply, State-of- the-art high speed IT/Telecommunication infrastructure, 24/7 water-tight security, Helipads and private jetties and much more.

The Business park will consist of Industrial, Commercial and Residential real estate. The quality of work to be executed here would make Abuja look like a Chinese made electronic.

Shopping Malls, Business Hotels, Marina, Industrial Complexes, Highrise Business Offices,etc.


Project Cost: US$1 billion

Project Size: 300 Hectares

Due date: 2014

Facilitator: Arco Petrochemicals

The Park is 5 minutes drive from the Warri Port, 15 Minutes from the Warri Airport, A stone throw from the Warri Refiniery, Shell Center, Chevron, Daewoo Construction and a host of other international companies.

www.warriindustrialpark.com

Pictures

Sanusi's time is up!!


FG Demands CBN’s Blueprint on Bank Reforms
•Sanusi: Stakes in rescued banks to be sold by May
By Emele Onu, 02.12.2010


The Federal Government has asked the Central Bank of Nigeria (CBN) to furnish it with the blueprint on the banking reforms to allow assessment of the direction of its policies and also ensure that they are in line with government’s long-term economic programme.

The Minister of Finance, Mr Remi Babalola, who disclosed this in Lagos yesterday, said: “We want a blueprint of the reforms to know where the CBN is headed and more importantly be sure that actions are not just taken ‘as the spirit directs’.”

The minister said the government was fully in support of the CBN reforms in line with its strategic focus on the growth and development of the economy but added that government was trying to back the CBN to the extent that its (CBN’s) actions do not jeopardise the confidence level in the economy.

Meanwhile, the CBN Governor, Mallam Sanusi Lamido Sanusi, said yesterday that the CBN might conclude the sale of stakes in some of the country’s rescued lenders by April or May this year, according to a Bloomberg report.
“Some transactions could be concluded by April or May. It is not a shot-gun marriage. These things happen as they come,” he said.

The central bank wants to complete the process by the end of the year at the latest, Sanusi said.
Sanusi, had, in his keynote address at a conference in Lagos, presented for the first time the total package of the banking sector reform programme.

He said the reforms are encapsulated in four pillars: the enhancement of the quality of banking; guarantee of financial stability; ensuring healthy financial sector evolution as well as ensuring that the financial sector contributes to the economy.
The CBN, said Sanusi, would next month as part of the reforms programme issue fresh guidelines on margin lending and other rules that would strengthen supervision.

Babalola disclosed that the Federal Government had in the past abandoned some crucial decisions to the CBN in the name of protecting its autonomy, adding that the situation contributed to the crisis in the sector. He said the government would “now be more involved”.

Beside its plans for the banking system, the minister said the capital market would be completely overhauled within the next few months to make it function better.

The CBN governor said in addition to the changes introduced in the banks by the reforms, the apex bank is improving its structure, systems and processes to enable it drive the transformations anticipated in the new era.

Sanusi disclosed that CBN had entered a relationship with some foreign institutions for the development of its personnel, adding that it had also put in place a system that ensures that disclosures, as required for banks exist at the apex bank.
The governor reiterated the plan to segment the banks along market, geographical and specialist lines, with different levels of capitalisation.

He said the regulator would also ensure regular meetings of the Financial Sector Regulator Committee which he noted had not met for three years, adding that the CBN might regulate proprietary trading in a bid to avoid a repeat of last year's banking crisis.
According to the governor, the Federal Government would continue to give its support to the apex bank. He debunked rumours that the Acting President, Dr. Goodluck Jonathan, had ordered a review of the CBN Act or BOFIA.

Sanusi noted that regulatory lapses had allowed liquidity to flow into capital markets at the expense of the real economy, which he said divorced the banking sector from contributing to the economy.
To correct the trend, he said, the CBN would pursue a robust monetary policy with the aims of stable foreign exchange rates, single-digit inflation and low interest rates.

The CBN is working with the Ministry of Finance, relevant Federal Government agencies, the state governors as well as the banks to ensure enabling operating environment for the real sector and that banks actually lend that rector, Sanusi said.
The central bank needs to champion direction of economic policy, he added.

Sanusi further disclosed that the central bank was working with the finance ministry on developing the use of market instruments to hedge against oil price volatility.
On the recapitalisation of the banks, the governor said two interested investors were interviewed last Wednesday, adding that the CBN had received expressions of interest for all of the banks rescued in last year's bailout.

On the proposed assets management company, Sanusi expressed optimism that the legislation would be passed by the end of this month, adding that the monetary authority would meet with the legislative arm to ensure the quick passage.

He said the company would need N1 trillion to buy up all the bad loans in the system, adding that AMC is key to making the banks attractive to the new investors.

The governor said the CBN was pushing for the presidential approval for tax relief aimed at helping the development of the fledgling corporate bond market, which would enable banks to raise cheaper long-term funds and engage in longer-term lending.
The acting Managing Director of the Nigerian Deposit Insurance Corporation (NDIC), Mr Umaru Ibrahim, said the corporation was also strengthening its systems to cope with the challenges of supervision.


He said the body was considering reviewing the insurance coverage of deposits upwards, stressing that there had been requests to review it to N10 million for universal banks and N5 million for microfinance institutions.

biina:
You sound like an Harrod-Dorma proponent, who thinks that money/capital is the only  factor for economic growth.  Sorry to disappoint you, but that argument only holds in developed countries, and trying same in Naija is like pumping water into a leaking tank = wasted effort. It was the same line of thought that led Soludo to increasing bank capitalization and the only thing we have to show for it is a handful of banks that we can not afford to fail. Soludo put the cart before the horse and worsened a bad situation. He creted the EDW, encouraging the troubled banks to keep on leeching on the system, when they would have been left to fail prior to the mergers.

The financial sector needed cleaning up and not to be encouraged to invest blindly. Sanusi is doing what is needed, while you, my friend, are talking about what you want. Using 'complex instruments' under poor corporate governance is a recipe for disaster. Risk taking is encouraged not discouraged, by transparency.

No I'm not a Harod dorma proponent. I am very much aware that other factors like Human Capital, Technology, entrepreneurship etc are required for economic growth. All those would fall into place as financial capital becomes available.

Neither am I saying the system didn't need a clean up. However, what Sanusi did is akin to using bleach on coloured clothes just to pull out a stain. Sad thing is that it would wash off both the stain and the color of the the cloth leaving the cloth useless and unwearable.
Thats exactly what has happened to our financial sector.

Biina, we can have this argument for the next 10 years and it is unlikely our positions would shift for the simple reason that our preferred future for the banking sector is probably in opposite directions. However, there is one thing we can easily agree on and that is the fact that Sanusi has done more to destroy the industry than he has done to build it.

idiopathic:
-----------------------------------------------------------------------------------------------------------------------------------
Papabrowne,
I am sure you must be joking
Where are these complex financial instruments you are alluding to? Kindly give me a few examples.
I am not aware of any of these banks being involved in investment banking or derivative trading. The don't give out personal loans, and are almost invincible in the mortgage market. So,what are these risks you are referring to?
Except you want us to believe that giving unsecured billons to their cronies and and buying personal properties all over the world constitutes risk taking.

Please stop beating around the bush and blame the crooks (Akingbola, Ibru)  who wrecked the banks.

I mentioned categorically that the financial sector was previously evolving to a stage where we would've been able to use these complex financial instruments such as derivatives and fixed income assets  to pool huge capital that would then be used to fund massive infrastructural projects.
If you notice, I used the phrase  embryonic stage- to pinpoint the fact that we hadn't started using these instruments, however the culture was been brewed and it would have been only a matter of time before we started enjoying these facilities.
Unfortunately,Sanusi destroyed the potential for these kind of instruments in the name of risk averseness!

Nigeria has a shortfall of 16 million homes. To put it mildly, that would cost $300billion.
To get just 25000 MW of electricity, which in real terms is grossly inadequate when matched with South Africa's 40,000MW, We need somewhere in the region of $100 billion dollars.
To catch up with the rest of the developing world, we need roads and rail valued in hundreds of billions.
There are other areas to be funded like Healthcare, Education, Water, etc.

Government cannot afford these kind of figures no matter the price of Oil.
The only way to do it is by developing a robust financial sector that would utilize leverage albeit with measured risk.That was the direction Soludo was headed. Yes it is risky and you can get your fingers burned, but it is about the only way forward.

Sanusi came in and started preaching conservative banking. Talking about risk management without fitting it to our unique terrain. His direction wouldn't lead this country anywhere but downstairs. Good news is that his game is over. Jonathan, without question, knows better than allowing the aimless and directionless man keep on ruining the prospects for our development.

biina:
Its always sad to see the Sanusi haters using misinformation and/or disinformation to try and win their arguments.

@papabrowne
[b]U claim to have more info than the rest of us. [/b]Could you then be so kind as to furnish the rest of us with your privileged data?
- What were the conditions the banks were in before the CBN intervention? did it differ from the claims made by the CBN that said banks were owing heavily in the Interbank market?
- What is the situation of things presently, and how bad have things gotten due to the CBN actions?
- What should have been the correct course of action for a non-sanusi CBN?

Again please provide facts and figures and not just your opinion.

Never claimed to have more info than anybody. The nature of technology these days has made data available to virtually anybody that wants it.
Simply visiting CBN's website & downloading(they've stopped it) the weekly Forex Dutch auction transactions by companies in all segments of the economy can tell U a million things about the Nigerian economy- that is if you know well enough how to utilize it. There are a million other ways to get data Biina, a million other ways!!

-The banks were in a pretty bad shape before the CBN intervention, however, there were no indications whatsoever that they were about to collapse.
- After Sanusi's intervention, the economy dipped sharply and stays as bad since then. Everybody , even those outside the sector know the negative impact of his action on their businesses. Credits have dried. 10,000 jobs have been lost. But most importantly, risk has been criminalised in a country where doing business is as risky as a bungee jump. Entrepreneurship is the victim.
-The correct course of action would have been a more calculated approach to clean the industry without negatively impacting on an already battered economy. But Sanusi brought his personal squabbles with CEO's to the forefront, and got everything wrong from the onset.

Ibime:
You lot are jokers.
What was so complex about the loans given out by the failed banks?
Complex financial instruments ko, complex measurement instruments ni!
Structured products are structured over underlying assets, unlike in Nigeria where banks structure products over thin air and other intangibles such as "trust" and "personal relationship". 
CBN has just commissioned a contract with someone I know for work on a 30-year yield curve for Nigeria to help develop the corporate bond market. Naija companies have historically been unable to raise capital by issuing corporate bonds. Guaranty Trust bank has been the first bank to successfully issue corporate bonds just last month while the rest of yall sit on Nairaland raking dust about Northern agenda. I guess these forward looking measures by CBN are all part of retrogressive thinking by Sanusi in his pursuit of a "raw cash" economy.

I didn't refer to the loans given out by the banks as complex financial instruments. I simply stated that Sanusi has killed risk taking and complex financial instruments are by nature very risky.
However, I stated that massive projects were beginning to get backed by the banks- TINAPA, MMA2, many Oil & Gas projects, etc. Nigeria was headed to a place where we would've started using complex financial instruments to pool capital to fund massive infrastructure projetcs.

By complex financial instruments, I refer to derivatives and fixed income instruments such as options, warrants, swaps, commodity-based futures, auction rate securities, structured notes on assets and all the other financial jargons that have been created to enhance leverage.

Bonds are good, but it is boring and too simple and your expected income is in most cases specific. It only serves as a safety net.
Sanusi's risk averseness would naturally make him a lover of bonds. But in this era, bonds would never fund the huge financing gaps we have in power and transport infrastructure, housing et al.

It is the developing of financial instruments that are as good as raw cash. In the modern World, trade is no longer brick and morter and raw cash; trust, ideas, methods, techniques, positions, confidence etc are marketable.

For him, banking is all about raw cash, trust and instruments are criminal to him. But then, what do you expect from a bushman?

This statement explains in total my key grouse with Sanusi! Financial instruments!! That's the secret to development in the modern world!
A culture was beginning to evolve in the Nigerian financial sector where massive projects were beginning to get backed by well structured albeit very risky financial instruments.
Sanusi came and destroyed such a beautiful embryonic culture that was evolving. It's painful if you understand what Sanusi has killed in this country.
Financial instruments would have funded massive road projects, modern railways, massive housing projects, huge agricultural development, so much would have been done even without a Kobo from the government.

All complex financial instruments are very risky. Risk is the key word for success!
Nigeria is an extremely risky business environment, hence you must fit risk management practices with our existing conditions! You don't just go around punishing people for taking risks.
Sanusi killed risk taking in the financial sector. And until people read more to gain understanding, they would never grasp why investors and financial industry experts are cross with Sanusi.

idiopathic:
I am surprised at the venom being directed at Mr Sanusi who is sanitising the stench left behind in the banks by Soludo.
The affected banks were already tethering on the brink of failure before he stepped in to rescue them. Soludo had even secretly bailed some of them out before the arrival of Soludo.

Some of you are asking what Sanusi has achieved:

1) His early intervention prevented the outright collapse of the banking industry.
2) Depositors did not lose a kobo because of this intervention.
3) By restricting the office of CEO to 10 years, will help to prevent the banks being defined by one man/woman thus reducing future abuses.
4) His intervention has halted the activities of crooks and cowboy bankers (Ibru's, Akingbola's)

Nigerians are always resistive to positive change. This reminds me of how Idiagbon was criticised in the early 80S until we got the kind of leader we deserved in the person of IBB.
I am a shareholder in these failed banks and lost a lot of money. But my venom will always be directed at the real culprits- the corrupt CEO's.

Idiopathic, your position is understandable especially when viewed from the fact that your are judging based on the limited information available to you.If you had much more information and real data on the true condition of the banks before and after Sanusi's actions, you, being a reasonable and brilliant fellow, you would judge differently.

I would just pose one question to you.
The economic crises started in Nigeria in January of 2008(stock price crash) and accelerated in October 2008(Oil price fall).
How come for over a year after up until August 2009, banks were still able to pay huge salaries, meet up with depositors demands, build more branches, pay dividends, etc and yet they did not collapse.
How come Sanusi tells us they were about to collapse when there were no signs of such??
They had problems like every other bank worldwide did, no doubt. But they surely weren't about to collapse
Always ask questions. Don't just swallow hook, line and sinker every thing you hear.

@Paddy_lo
I am not commenting based on the allegations. I am aware it is just loans and has nothing to do with a sale.
If you read thru my posts, you would realize I didn't comment on the alleged sale.
My comments are related to Sanusi's place in Jonathan's dispensation.

MrCrackles:
And if this doesnt happen, i will absolutely batter you anywhere on this forum. . .
Infact alienate you!!!

MrCrackles, watch as it unfolds.
First, [/b]Waziri goes.
[b]Second, the courts would be allowed to judge fairly on the suits brought by the shareholders, CEO's etc against the CBN and vice versa.
Third, the shareholders/CEOs win their cases and CBN has to comply with the court decision. The CEO's however won't be allowed to return 2 the banks, which I think is fair.
Fourth, [/b]Sanusi is angry and frustrated because he can't go further with his plans.All his plans are questioned by the new executive.
[b]Fifth, He is fed up and resigns.
Watch as the next two quarters play themselves out.
Check out the profile of the new AGF and you will get the message.

citizenY:
@Papabrowne

He was given the position and not you.
I can feel him, I cannot feel you.
He is visible and you are faceless.
He has no aggro against you because he is too busy.
Now that you have come out of the fray, you must tell me why
Sanusi was chosen over and above you.  

He was given the position and not you.

I wouldn't want the job cos I can't do it. I'm not even qualified enough, yet more qualified than Sanusi's Bsc Econs.
Don't you shudder at the fact that the only relevant training Sanusi's got is a Bsc in Economics?? Doesn't that scare you to know thats all the knowledge he's got to run a $200billion wobbling economy? ? ?

I can feel him, I cannot feel you.

Yes. I've noticed that most people that feel him are either 5-9 jobbers with very low salaries or people with little or no education. Its understandable that you feel him.

He is visible and you are faceless.

He was as faceless as I am until 9 months ago. Who knows, I might just be visible someday.

He has no aggro against you because he is too busy.

Really?? But the only achievement he lays claim to is the "aggro" he has with the bank executives. Thats all he has spent his time doing, how come you say he too busy for such?

Now that you have come out of the fray, you must tell me why
Sanusi was chosen over and above you.  

Come out of the fray? ? ? How so buddy? ? Naah, Sanusi has been placed under and below ma feet!

Finally, I don't have a problem with the man Sanusi. Rather, I have a deep seated problem with his ill thought out actions and the immensely negative impact it has had on the very fragile and yet burgeoning $200billion economy of Nigeria.

^^^^^
Mention one achievement Sanusi has made aside the vindictive pursuit of CEO's. Just one please.
For every single one you mention, I'll mention 10 failures he has recorded.
Whether we like it or not, Sanusi's game is sooo over.

If there is anything that makes me happy about Jonathan's appointment, it is the fact that he will smash Sanusi's ego in a second.
Guys, don't worry anymore, Sanusi is on his way out. He won't be sacked, he will resign out of frustration.

The man cannot even lay claim to a single achievement, neither can he even pinpoint the direction in which he seems to be headed in almost one year as CBN Governor, except for victimizing CEO's in a very vindictive manner.

The economy is bleeding and its so obvious that all those who supported him in the beginning have lost confidence in him.
Anytime I remember that the CBN Governor of a $200 billion economy is just a Bsc Economics holder, I shudder at Yar'Adua's sense of judgement.

A pathetic lot of Humans! These terrorists have killed a hundred times more Muslims than they have killed people of other religions!
They kill innocent Muslims- women and children - everyday when they blow up places in Pakistan, Iraq and all those other countries.
Real Muslims have to rise and fight these demon possessed, blood thirsty, sub humans, if not they would consume the religion of Islam soonest.

TRANSLATION

Praise be to Allah who says: [If Allah not repelled some people by others, monasteries were demolished and churches, synagogues and mosques in which Allah's name is mentioned much.] (22:40 ).
And that prayer and peace be upon our Prophet who said (the example of believers in their sincere feelings and affection between them and their solid relationships is like one body, if any part suffers the whole body falls ill and remains the night suffering from the fever). And it is about his family and his companions swords of justice Mujahidin purified, for the following:


Here is the tragedy of the Muslim majority in Niger continues, and the massacres committed against them by the evil minority Crétien before an international criminal complicity and betrayal of the collective share of Governors apostates in the Islamic and Arab countries. In reality it is a new episode of the crusade against Muslims, he has not even y'en cines months on the first massacre of the Masjid, they have not even joined forces because of the genocide that has cost life to 800 Muslims including Sheikh Mohamed Youssef (the mercy of Allah be upon his soul, we consider martyrdom chahid-Allah accepts).

Last week we all followed the massacres that took place in the city of "Joshua" and its regions, and have taken out 500 Muslim victims who did nothing except that they said that their god is Allah and that Jesus son of Meriem is His messenger and His word which He bestowed on Mary and a spirit (Rooh) created by Him.
The images of babies all burnt out wells on the television channels are witness to the crime Crétien and their deep hatred towards Muslims. Allah told us their virulence in His Holy Book when He said: [Neither the Jews nor the Christians will never be satisfied with thee, until thou follow their religion.] (2:120).

The ongoing tragedies in Niger show that the minority of crusaders who run do not ******* ent only on the acquisition of power and unfair exploitation of the country's wealth, and the total handling sensitive issues such as politics, economy and military, but this minority daily shows its commitment to eliminate all Muslims and their religion and their beliefs using the same strategy of Inquisitions frightening at the history of Andalusia and the massacres in Bosnia and others.

If the silence of the infidel West to these events in Niger is expected since they are criminals being used to kill Muslims in every moment, and because the minority are guaranteed Crétien Oil without fear, but more surprising and distressing is the silence of over a billion Muslims! which probably were distracted by their leaders Tawaghits with football and banalities. As a result they let the crusaders to slaughter their brothers and sisters as sheep and our Prophet (prayers and peace be upon him) said: (Muslims are brothers, none of them shall not oppress his brother nor issue).

My dear Muslim brothers in Niger:

On behalf of our brothers the Mujahidin in the Islamic Maghreb, I present my sincere condolences to the families of victims, and the Exalted Allah gives you patience and mercy be upon the souls of Muslims in his wide heaven. Allah sends his revenge on the criminals, O Allah be with us in this tragedy and our sadness by replacing your property. We are Allah and to Him we return.

And I tell you:

Be sure that the blood of our brothers and sisters will not go like that without offense, we will supply all our efforts to help and to avenge the evil crusaders assassins of Sheikh "Mohammed Youssef (the mercy of Allah be on his soul and his brothers), the killers of babies, women and old in the city of "Joshua" and its regions, the destroyers of mosques in which Allah's name is often repeated.

My dear Muslim brothers in Niger:

The only way to get rid of these ongoing massacres committed by the minority governing Crétien, the only solution to recover your rights and fortunes, and how to protect your legitimate religion, dignity and existence against this crusade, is to create the point of force possible, which are summarized in the preparation and training for jihad for the cause of Allah. Take as an example the experience of your brothers in Somalia who have fought against Ethiopia Cretien, and we, as the Organization of Al Qaeda in the Islamic Maghreb as we see the obligation to support Muslims everywhere , declare as follows:

We are ready to train your men to use weapons and provide them with every means at our disposal in terms of support, men, weapons and equipment to make them able to defend our brothers and sisters in Niger confront minority Crétien.
Send your men to the battlefield and training for jihad to be the leading fighters who defended Muslims in Niger and will face this war declared.
Jihad Jihad and the gun weapons, Allah says in the Holy Qur'an: [And what did you not fight in Allah, and for the cause of weak men, women and children say: "Lord! Rescue us from this town whose people are oppressors and raise for us from You one who will protect and raise for us from Thee a helper "] (4:75).

In this regard, there are some points to mention, as follows:

- We are very surprised and amazed at the shameful silence of people counted among the Muslim scholars who have used their cries and tears if one crusader is killed or kidnapped by cons we see today deaf and dumb before the death of hundreds of Muslims. Oh Allah, we are innocent of anything done by these people, and we apologize for what they did.

- We denounce the misleading way which was the event covered by the mass media Arabs because they made people believe that this massacre is a kind of ethnic conflict on economic dimensions. Any fair and neutral person observing the case will know that they are clear killings whose victims are Muslims only in several years, and that the ruling minority in Niger insists commetre these crimes in complicity with several stakeholders.

- It condemns the two ways used by many traders because the Palestinians are distinction between the Palestinian blood and blood Nigerian Muslim. They denounce the killing of one Muslim Palestinian (and this is the right and duty of every Muslim), while absolutely not act against the massacres of hundreds and even thousands of Nigerian Muslims are victims We ask this question:
Did our Prophet (prayers and peace be upon him) not said: "The blood of Muslims is like? or the Palestinian cause reported earnings while that of Nigerians in nothing? "

Dear brothers in Niger:

You are not alone in this affliction, the hearts of the Mujahidin suffer with you and want to support you with all they can in the Islamic Maghreb, Somalia, Iraq, Afghanistan, Palestine and Chechnya.

You're not weak, you belong to a dear and proud Ummah (nation) Muslim who humiliated the tsars and alokasrp Persians and Romanians, this Ummah who gave birth to the faithful companion "son of Rabah Bilal the Abyssinian," which killed the tyrant "Omaya son of Khalaf, and the same Ummah who gave birth to the hero Mujahid Nigerian" Omar Farouk "(Allah frees) who sacrificed himself for the invasion of the crusaders on their own field and who was trembling and afraid of dying.

You're not poor, because your country is among the largest producers of oil in Africa, but the crusaders and their brothers who are the ruling minority exploit your wealth by force, and our Prophet (prayers and peace be upon him) told us: "whoever is killed defending his money-properties-is martyrdom '

Allah Allah in jihad and fight, send your kids loved the training ground, plants lions (battlefields), and us and you to avenge the killers of your children, your wives and your Imams, Destroyers your mosques and operators of your oil and your wealth.

Allah says: [And be prepared (to fight) against them all you can and as strong as steeds, to frighten the enemy of Allah and yours, and others that you do not know outside thereof, but Allah knows.] (8:60).

Oh Allah with your help we are spirited to fight and move among enemies, O Allah send Thy punnission all the crusaders and their apostate allies, Oh Allah send your defeat them and help us to be victorious. And the end of our prayer: "Praise be to Allah, Lord of the Universe".


Mouss'ab Abu Abd lWadoud

Emir of the Organization of Al Qaeda in Islamic Maghreb

The "Core North" has lost out in the power play.
Look at this- Today of the three arms of Government, there is no single Core Northerner at the helm of affairs.
The Executive arm has Goodluck Jonathan(Bayelsa), the parliament has David Mark(Benue) and Dimeji Bankole(Ogun) while the Judiciary has Katsina Alu(Benue). Add that to the fact that the Defense Minister Godwin Abbe is from Edo State.

"Born to Rule" indeed. I think the North has ruled the country long enough with very pathetic results!Only Gowon tried a little and he wasn't even of the "Core North".
The Northern region remains by far the poorest part of Nigeria despite 40 years of leadership.

^^^^^
Aisha,
I've sent it. You can pick it up tomorrow! Would send you an email later 2nite with the details!

Aondooaka was on. . . . . . . . . talking a bunch of gibberish!!

[quote author=ndu_chucks link=topic=395468.msg5480262#msg5480262 date=1265723063]I'm afraid that Jonathan may find himself in a trap. If the AG decides to challenge this senate resolution in court, I'm afraid the AG will have a very strong case and the backing of the constitution. You don't address an illegality with another illegality.

The senate has the constitutional power to impeachment the president, they should start that proceeding immediately to checkmate any funny business from the AG. The senate resolution is legally worthless, useless, irresponsible, and shameful.

I suspect that as soon as an impeachment process is started, we'll see a letter to the senate from Yar'Adua promptly. Jonathan should refuse to be sworn in on the basis of this useless resolution.[/quote]Jonathan should test the new powers given to him by sacking the AGF. Such a move would definitely put the powers bestowed on him by the senate to the test.

Surely, the Americans are trying to revive Detroit and the Japanese/Korean automakers are the greatest hindrance. So boom! They get the almighty mossad involved to implant some technology in all Toyota cars that makes the pedal catch an instant cancer which creates a growth that instantly affects the foot mat.
Just watch, the next victim is Nissan and then Mazda, before they attack the Korean trio of KIA, Hyundai and Daewoo. In no time GM and Chrysler would be back again. I'm pretty sure Israel would kick of their Auto industry after this.
Psssstceeeeewwww! Everything na America ati Mossad!!

ayettymama:
^^
dont worry bout tiger

hes a tiger!!!

i am just saying the facts

magazines are rumour books

ive neva heard of anyone suin a mag dwn here

and they are full of lies!! even obvious ones

neways lets see hw backwards the country is

she mite even win! heheheheheheheheh

You are right sha!! I think suing them is good though, as it would serve as a deterrent.

ayettymama:
^^^ abi na

thats the diff btn magazines and papers

papers are sposed to print facts

whilst magazines can print rumours!

onli in nigeria will people sue magazines. . . . . . . .backwards nation!

Wait until you are a victim of a rumour, then you will understand the implications of your statement.

Asa's music promotes moral values. The moment an immoral rumor of this nature begins to spread, her fan base, most of whom have high moral values, would begin to loose confidence in her. This loss of confidence would definitely impact massively on her and her album sales.

Although, the case of Tiger Woods and John Terry aren't rumors but facts, go ask them how devastating the impact has been on their careers.

Fourthed!!