₦airaland Forum

Sky Blue:
O gosh, I really wish you did not use such a silly example. Do you care to tell the rest of the forum how those lights are actually powered?[b] Is it not by massive generators the government uses state treasury fuelling? [/b]How embarassing. On the other hand, a good number of streets in Port Harcourt use solar powerred street lights,

And that is exactly my point. Because Warri is a small city, it is very affordable for the government of Delta to run the lights on generators. Those Solar lights in PH cannot in anyway be compared to the lights in Warri. They are almost as dark as NEPA's low current!

I'll never take their course seriously or accord it any form of credibility till they go after the enemies within, the crooks and looters.

How about the crooks outside. . . . . those ones that have held Nigeria hostage for sooooo long! Those ones that created all the nonsensities like federal character, Land Use decree,etc all for their own regiono-selfish benefits!

Truth is. . . this Niger Delta crises will keep burning expansively until it gets to the seat of those external oppressors.

Justice is easy and as soon as justice is applied, peace will reign in the region and Nigeria will be better for it.

@babapupa
Can you pin point any incident where MEND killed one single innocent citizen randomly. By randomly I mean those not cut in a crossfire.
For every incident you pinpoint, i will refer you to 10 incidences in which the Nigerian Military slaughtered innocent Niger Deltans.

I don't play tribalism and I'm not exactly a Niger Deltan!

mbulela:
I have proof that he is just a slightly higher classed criminal than Ateke.
They are all one and the same.

So you have proof?? How about proof that all the military boys that are sent to the creeks are not criminals? Or proof that the Nigerian state is not run by criminals?

babapupa:
this is what self serving, self centered and selfish people spew. if na your own mama, papa, brothers and sisters mend slaughtered like dogs, na different song you go dey sing. but hey, it matters not to you as long as no be you and your people dey die and the criminals and crooks responsible for  looting and stealing you dry were let go and their blood replaced with innocent people's blood,

enjoy your end with innocent people's blood.


karma is a beesh,

If na your own people[b] the Military[/b] slaughtered like dogs, na different song you go dey sing. But it matters not to you since the innocent and oppressed people of the Delta are not your people.

Karma is a two way street and it is beesh both ways!!

Druss:
Visited Delta and Rivers - None can touch Fashola - NONE!!

I choose to disagree. Fine, Fashola is doing good. But Lagos is too enormous so the impact is barely felt.
Delta and Rivers on the other hand, much smaller, hence more impact.
Just a silly example: For instance in Warri, all trunk A roads are street lighted 12hrs non stop- All! Lagos cannot afford to do that!
Public transport system in Warri- Brand new Fully airconditioned Toyota Hiace buses- Lagos cannot afford that because of its size.

Ateke Tom might be a criminal, but Tompolo is not.

Just for information:
Something strange is happenning in the Niger Delta.
Looks like the Military is planning something mean after October 4th.
They've begun placing sandbags all over the place. In the creeks. they built some strange kind of platforms.
I don't know why they can't see that anytime they increase force, the Emancipation militants grow stronger.

Mr Porka,
If Bill Gates, the most successful IT guru of all times doesn't have a degree in Information Technology, shouldn't that teach you a lesson already?
Another guy without an IT Degree is Micheal Dell of Dell Computers!!
Go learn something new and and leave UTOMI alone abeg!!

Beaf:
Tell am jare!
Bill Gates is a drop out law student. How many computer science grads can argue with him about algorithms or low level computing?

Thank you jare! Too many Nigerians have been brainwashed with this certificate mentality!

@Porka
You've been decieved for too long that knowledge is in paper! A certificate is just a piece of paper.
Pat Utomi is a Prof. Whether he has a certificate in Economics I don't know, but I sure do k now that he has all the knowledge of a seasoned economist and that alone qualifies him as an Economist.
Do you need a degree in Political Science to be a Politician? Or a degree in Business Administration to be successful at business?

Depends on what your definition of commercial is.
Victoria Island is the Financial capital of Nigeria.
Apapa is the major seaport in Nigeria.

Funnily, I like both of these men. I like Ibori and I like Ribadu. That makes me neutral.
In a personal capacity, I like Ibori. As a Nigerian that wants a better Nigeria, I like Ribadu.

However, something Ribadu said on Next Newspapers on Sunday made me know that Ribadu might not be all that truthful.
I wouldn't say what it is, cos the Ibori peeps might use it against him.

Ibori on the other hand looks like a guy that would bribe Ribadu with $15million. I bet he did that.
Still I like Ribadu and yes I like Ibori!

Although Fashola is outperforming most of the other Governors, I don't think he has made as much impact on his people as much as some of the other Governors. Lagos is terrible and transforming it is a mountainous task. Anytime I am in Lagos, I always feel like it will take forever to transform Lagos.

Gov. Uduaghan of Delta state has made much more impact on Deltans than Fashola has made on Lagosians. And yet Fashola is obviously working harder. The task in Lagos is enormous.

This thread exeplifies why Nigeria is as backward as it is today.
In front of us is an opportunity to prove ourselves by helping someone in need, but as usual we will always pass the responsibility to someone else called "they or them"!
The mentality of the average Nigerian beats my comprehension!!

@Platnumnk
I luv you!! You are just sweet!!
And I'm following this thread and would make donations as well as solicit donation from people around.

@The other positive thinking fellows
Lets help this boy! Yes we can!!

I kind of like Ibori! I think Nigerians deserve leaders like him.

He should stay and feel the pangs of the catastrophe he has cost the Nigerian economy.
After that, we will stone him out of there!!

I think its too early! I think when the primary season is over, then we can talk to the people.
Plus the timing is not right considering the banking brouhaha this Sanusi of a guy has caused.

Fhemmmy:
They could have done this differently, agreed.
Sanusi could have allowed some of the banks to go under, agreed.

For crying out loud, no bank was going under!!!!!!!1

I want to correct an impression.
Why are we accepting Sanusi's propaganda that the five banks were failing? They had problems just like about every other bank both in Nigeria and the world over.Its not news that almost all the banks in the world had financial issues due to capital market (derivatives to be precise) and mortgage exposures.

If the banks were failing since October of 2008, how come all of them still had the capacity to fulfill their obligations towards their depositors?
10 months is enough time for a failing bank to collapse, but no they didn't.

Sanusi has the confidence and affontry to do what he did because we have an illiterate nation filled with people that think they are literate. A country where majority of the folks will celebrate any persecution as long as it is geared towards successful people.

The country is going to feel the impact of Sanusi's actions, but thinking of it. . . . . Nigerians deserve it. I feel sometimes like most Nigerians deserve this mess called Nigeria.

McKren:
This is why there must be due process, I PERSONALLY HOPE THE COURTS RE-INSTATE THE 5 BANK MDs.

Lest I forget, apart from sacking 5 MDs and dolling out 420billion has there been any change in the Banking process that led to the current bad loans? I doubt any framework has been put in place by the CBN.
None has been implemented nor announced.
Talking and acting tough is no replacement to good strategy.

Thank you man for bringing this point out. The guy doesn't seem to have any strategy geared towards progressing the economy.

Sincerely speaking, to be fair to Gov Slyva, he didn't build this project. Alameiyesiegha did. Gov. Sylva was faced with the task of determining what to do with this behemoth of a white elephant left to him by his predecessor.

Albeit, what a nasty presentation by the Gov. Why invite CNN?? Of what benefit is it to Bayelsa if the world sees such a project??

However, for all those critisizing the Gov, he does have some pretty good projects up his sleeve. Funnily Bayelsa state actually has the highest per capita GDP in the country. The indigenes are not at all experiencing poverty like is experiened in other parts of the country.

The project outlined is a good project. Problem is funding. Where does the "Julius berger" get funds for the project. The project outlined wouldn't cost less than $40 billion dollars going under a zero corruption situation.
The issue of funding is the critical part. Funding would have been accessible if foreign investment funds were confident of our political stability.
Problem is people like Yar Adua and Sanusi have proved to those potentials investors that Nigeria is a no go area for your funds.
There is no guarantee that after 4 years of concessioning the infrastructure, a new government wouldn't reverse the order.

qblaze:
I love sparring with buffoonish clowns like you.

I support Sanusi because I've looked at his actions and they make perfect sense. Morons like you are afraid of losing their jobs but the truth is that you are too obtuse to actually educate yourself.

You are actually a perfect example of the problem with our banking sector. You lack basic punctuation skills and you probably paid for your degree.
Griping on the Internet won't change the fact that he's the CBN Governor. If you can't handle that, please take a gun at put a bullet in your head.

Truthfully, sense is relative. One man's sense, is another man's foolishness.
Its not exactly the actions that matter, but the results of his actions. The results of Sanusi's actions are beginning to come out and I pity for folks like you.

Soludo came, jobs were created in tens of thousands.
Sanusi is here, jobs are been lost at an alarming rate.
We still got 5 years of this Sanusi guy. How scary!

That would be lovely, as Anambra would finally have the opportunity to experience superb, superlative, innovative and ambitious governancxe and economic growth.

When Sanusi's Charade is over, people will begin to ask why he did what he did in the first place.
People will realise all of a sudden that he had only five targets as exposed by the Vanguard report of March 23rd.
He has found himself in a huge dilemma.

If he sacks more MD's, the uproar will be sustained and it will further dissipate the economy. Plus he would have to inject more capital which he knows would only spell disaster.

If he doesn't sack the MD'S everyone will know that his intentions in the first place were to target the 5 banks and destroy them for his own selfish agenda.

If he chooses not to annouce the results, he will loose the minute credibility he has left. Asides, as Ibime said, there will be no trust between banks and they would stop interbank lending and I'm sure we all know the consequences.

Looking at it from any angle, It spells doom for the economy. One man, in a space of barely 3 months has single handedly destroyed an economy that even though it had its demerits, was budding and becoming attractive to foreign investments.
That is failure and if as Seun has said, failure is assumed to be criminal, then Sanusi should be on his way to Kirikiri anytime soon.

The second and final component of the experience happened one year later, during the JAMB crisis. The genesis was the publication on the front page of the New Nigerian Newspaper of a histogram showing the distribution of the students admitted into Nigerian Universities for the first time by JAMB.  There were 19 States in the Federation then, 9 of them in the South. Eight of the Southern States took the top eight positions in the ranking followed by Kwara and then Cross River, the final southern state. The States of the north other than Kwara took the last nine positions. Bendel State alone had more students admitted than the ten northern states combined. Northern students were alarmed.

The understanding was that part of JAMB’s mandate was to help bridge the educational gap in the country and promote national integration. It was clear that the skewed admission would only widen the gap. Moreover, northern students were not taken into southern universities who refused to recognise the IJMB, while southern students filled northern universities. We tried to have a national protest.

Delegates sent from A B U to the universities in the South were evaded and the only courteous response came from the University of Calabar. The problem divided the students’ body and southern universities made it clear it was a northern problem. The boycotts took on a regional character as northern universities ended up closed. To add insult to injury, the Students’ Unions at UNILAG and UNIFE actually issued statements supporting the military junta and condemning the protests. The exercise was to be seen as the enthronement of merit over mediocrity and the government was urged to make sure that half-baked school-leavers should not fill our universities.

For many of us who just one year earlier had championed a southern cause, the experience was traumatic. It confirmed the warnings of all those who considered us naïve in our struggle for national unity. But worse, this experience has not remained on isolated item but an example of incidents and attitudes with which our political history is replete.

@Jarus
If you've read this excerpt from his article, you should by now understand Sanusi's state of mind and the reason for his bank reforms.
There is a great similarity between the events he referenced (the JAMB results of 78/79) and the  Banking scenario post Soludo's consolidation.

In the Jamb result palaver, the Southern  states crushed the Northern states flawlessly. Imagine Bendel State having higher intakes than all the Northern states put together. Sanusi and his fellow northern hegemons, instead of working out strategies  to improve the educational lot of their kin, they changed the JAMB formula to one that would kill merit and promote mediocrity.

Banking, post consoludotion- very similar scenario. Out of 25 banks that survived the consolidation, only one had Northern majority shareholding= Unity Bank.  Sadly, despite its northern shareholding, 90% of its branches are domiciled in the south. It is also the worst bank in the country.

Once again, Sanusi was miffed by this "anomaly" called merit which always seeks to subjugate his northern folk and expose their intellectual inferiority in comparison with their southern brothers.
This time around, instead of protesting as  he did in the his ABU days, he finds himself with the power and capacity to further promote mediocrity over merit.

It's called the "Balancing Act". That"s what many are terming Northern Agenda. Its the desire to enthrone mediocrity. It has happened too many times in Nigeria and it is the reason we are still where we are today.It hasn't helped the north, and has prevented the south from growing. So the whole country is at a loss for it.

The only reason why Sanusi sacked the five bank executives is the create a balance in the banking industry. He envisages an industry where both north and south would have equal banking credentials notwithstanding the detrimental effects that philosophy would have on merit.
Good news is that his mission has failed from the onset, as he wasn't smart enough to make his moves sublime.

No! Sanusi is not intelligent as many people here are wont to assume. What he has expressed here is brilliance. There is great difference between brilliance and intelligence.
The guy is merely brilliant. He has read a lot and is vast in areas regarding politics & his religion!Bravo!!

Intelligence is more than just expressing what you've read or learned. It demands extraordinary creativity, Innovative intuition, precision action, logical and abstract resonance, etc. These are all elements of intelligence. Sanusi hasn't  expressed any of these elements.
The guy is only brilliant and I think brilliant is easy. On intelligence, he should work harder.

If he was intelligent, his agenda on the bank reforms would have been more sublime. Nobody would have noticed until he was through.
It is called Action precision! His loose mouthedness and regular flip flops do not represent someone witha good amount of intelligence.

I think they noticed that their newspaper sales were reducing dramatically. They had to take action.
The other papers might follow suit or they would have to find other ways to earn money.
Think about it, why would I buy papers when I can read them free online.

adctrl:
This man worshipped in my church today in Central London. You wouldn't even know that he has been declared wanted in 9ja.

Of course everybody knows the EFCC is a joke. Acting as if they are working on getting him!
To show how nonsensical this article is, ask yourself, if the EFCC is really after him and know he isn't in the southwest as they claim, why would they announce it? Why wouldn't they just keep quite about it so they can trail him to that location they say he is at. Nonsense.

The guy is wise and innocent and I'm pretty sure he will come out on top of this charade that the CBN and the EFCC is into.

4 Play:
Any person with half a brain knows that oil prices and the stock market fluctuate, therefore, doling out loans like the boom will never end is an astonishing case of mismanagement.

Oil price and the stock markets do regularly crash, any bank management that has not protected itself from the possibility of such a crash deserve to be probed.

Yes, you are right. But you would also reckon that with oil prices at a constant upward run, nobody envisaged a sudden drop to $35 in a space of just 6 weeks. The impact of the of the financial crisis reverberated across nations, small and large. It was unprecedented. Trillions of dollars were lost.

The crisis originated in the US via the subprime lending. Now, how come no American has been punished for issuing those subprime loans?
Reason is, we were all complicit. Both the Lender, the Borrower and the Regulators(Government) were all at fault.

This is also the case in Nigeria. First those loans went bad because of the financial crises. The debtors couldn't pay back. Worse part of it is that the Federal Government is the largest debtor and is finding it hard to meet up because of the same fall in the price of oil.
Since everybody is complicit, why punish anybody.
The only reason for the sack of the bankers is to implement the Script handed to Sanusi as contained in the Vanguard report of March 23rd .

Papabrowne'Quote
Isn't this what is termed poverty mentality?. Nigerians really do need to shed this mentality! Its too rampant here.
When you deposit money with a bank, you enter a contract with that bank to help you keep the money safely and not to provide loans for your business. Loan provision is at the discretion of the bank! Being a depositor does not automatically qualify you for a loan!
Depositors should stop whining as though they are shareholders.

Lastpage's Quote
Your ignorance stinks to high heavens!
If your educational level is up to secondary school, provided you weren't playing truancy all along, then l will suggest that you go a pick a copy of the most common Economics Textbook, (I will recommend O.Teriba  Grin to you, l doubt you could comprehend anything more advance!).

Check under the Heading "MONEY" and read the sub-topic "Duties/Roles of Commercial Banks".

It is part of the responsibilities of banks (at the macro level) to create Money (wealth).
This is done by offering "LOANS AND ADVANCES" to CUSTOMERS and charging INTEREST !
You are only required to meet the set criteria, to qualify.

You probably think they just lock-up those Billions of naira in the Vault (so that ignoramus like you can force your way-in   )

And talking of Poverty mentality, l will not even bother to answer you! Lips sealed
U never reach, walahi!!

Go make some millions, build a few houses in choice areas of Lagos, own choice lands and have property abroad, then come back and see if you are close enough!
Then we can take a look at each others "mentality".

Lousy bloody cunt!

@lastpage
Ok! that was unfair on my part. It is insensitive for me to just pick your post and refer to it as coming from someone with[b] "poverty mentality"[/b].
Thats mean! My bad! Do Accept my apologies!

However, I tried to make a point.  It is too common to see Nigerians celebrating at the downfall of any successful person! I usually call it "poverty mentality". That idea that the rich man next door is responsible for one's poverty!It just isn't right!
Fine, its true in the case of our thieving politicians, but not in the case of many of these bankers who worked real hard to get to where they are, it is false.

We cannot just celebrate the fall of these bankers merely because Sanusi has pronounced them guilty.We should assess the whole issue based on facts.
If loans were given to oil companies and stock broking firms when those were the best performing industries in the country, why should it be a bad thing? Oil price was at an all time high peaking at $147 per barrel, while our stock market was the fastest growing in the world!
Punishing these bankers for giving loans to industries that were high performers is an anomaly!

lastpage:
If really true, and l suspect it will turn out to be true, Granting loans without security, to the tune of Billions of naira, to family members, cronies and companies they have vested interest in, is a grave abuse of "Depositors Trust"in the ability of these CEO's, to manage and create wealth for their customers.

How can i deposit say #50,000 with a bank, when l need a loan of additional #50,000 to improve/expand my business, they would refuse, using some silly excuse or will ask me to go and bring the C-of-O of a storey building located in Lagos!

Yet, here they are granting Billions to their "favored" friends! using my/our money!

Sometime, l feel some of them should be allowed to rot in jail.
They are he ones killing this economy, along with the Political class. Rubbish crooks

Isn't this what is termed poverty mentality?. Nigerians really do need to shed this mentality! Its too rampant here.
When you deposit money with a bank, you enter a contract with that bank to help you keep the money safely and not to provide loans for your business. Loan provision is at the discretion of the bank! Being a depositor does not automatically qualify you for a loan!

Depositors should stop whining as though they are shareholders.