₦airaland Forum

I didn't read thru the whole thread, but from the little I've seen I must say that Nairalanders on average possess a unique form of poverty mentality!
Must we criticize everybody that has attained some form of success.
Abeg leave Dele Momodu alone! The guy is doing perfectly in his own space.

netotse:
they can attain the 6000 but maintaining it nko? and our demand is most likely more than 6000.

also the man did not equivocally say that we wld have 24hrs electricity

There is no way our demand is just 5100MW.
In layman terms, the equivalent of that is just sixty thousand 100Kva generators,
We surely do need more than that.

I think we must correct this notion on the potential collapse of the five banks.
The banks might have been under some strain, but they were nowhere near collapse.
The crises began in October of 2008 and for ten months after the crises, there was never a report of any of the banks being unable to meet financial obligations to their depositors.
This nonsense that the banks would have collapsed and so would the economy is a creation of Sanusi. Its nonsense.

There is a major problem resulting from Sanusi's actions already, and it has to do with credit freeze from all angles.
The local banks have all of a sudden become risk averse. The are calling back even well performing loans in what they are terming a "loan recovery drive".
Worse still, foreign banks have seized honoring Letters of Credit from Nigeria, sighting the problems with the banking sector.
How would we service our imports especially in the petroleum products sector. There is a real problem brewing and the signs would start showing when we have exhausted our July/August imports.

netotse:
u must be joking. . .do u hv any idea y CBN pursued him from UBA(hakeem)?

Did CBN pursue him?Nah! It was boardroom wranglings!
He got his pound back through the back door though! Thats what gave a little bank like Standard Trust the guts to take over A behemoth like UBA.
Ok, you give me an idea why you think CBN pursued him from UBA(if at all they did).
Asides, with the performance of Etisalat, I think he isn't so keen on banking anymore.

qblaze:
@Dayo,

Are you still in charge of the Dangote Support Group?

Obviously, He still gets his Dangote paycheck.
I don't want to go into details,but "Dayo Coker's master" is one of the guys that wants Intercontinental Bank!
But fortunately, the foreign guys that are to represent "Dayo Coker's Master" as fronts for the take over transaction have pulled out on advice from their embassies. Their embassies have briefed them on the politics involved, so they pulled out!

It's cool sef that they mentioned Nigeria!
We too dey sentimental sef!

@Funkybaby

Nope !
There is no coincidence whatsoever between the two firms.
I[b] am not going to reveal details of my personal life[/b] just to satisfy your curiosity on this issue

You already did! There are not too many companies in which Sanusi sits atop their boards, so in just three guesses. . . . . I'll be right on point! I can even guess where you presently work alreeeady! [size=5pt]^{Ok I wont say it here on Nairaland!}
[/size]

c'mon papabrowne, dont tell me that you are taking this rubbish article from ''times of nigeria'' seriously.

C'mon Funky, I surely know not to take them seriously. They are just a bunch of Iborilites!
Asides, three of the guys they maligned are some of my greatest Nigerian Heroes: I respect Hakeem Bello alot! Same for El rufai and Ribadu!

For me, Sanusi has commited a grave havoc against the Nigerian economy, so any article - (I care less about the reputation of the source)- that exposes his devious moves is ice cream to my ears. The guy really is losing his cool with the way he is going about this whole charade!

DOYO:
The rot in the banking sector which is being addressed by the current CBN gov is welcome but what i have an issue with is the approach he has decided to adopt to solve the problem.  He has not put into consideration the effect of his blunt and undiplomatic actions in addressing the issues at stake on the Nigerian economy as a whole.
The economy as a whole is slowly and gradually coming to a standstill, we are just about to start our own "credit crunch" in Nigeria. Banks in Nigeria currently have stopped granting credit at-least the ones i know and it is affecting business negatively for some of us business owners.
For some one like me, i used to enjoy a line of N 5M monthly with my bank to drive sales of my petroleum products, this i have been enjoying since beginning of the year without default. Now my bank has called it in saying they are on a loan recovery drive and loans have been suspended till further notice.

Now what this means is that 2 out of my 4 trucks will be left idle as my own capital is enough to lift 2 at once. I'll adjust but I'm just thinking of how many dealers like myself that will be affected cos a lot of us enjoy such lines with the banks.

Also discussion with one of the accounts guys of our suppliers, a major oil & gas co. in Nigeria reveals that they are also having problems securing loans from banks to import their refined crude, the guy actually told me that foreign companies are actually requesting for 100% payment b4 delivery which is not possible w/o the support of the banks and the foreign banks have refuse to receive L/C's (Letters of Credit) from Nigerian banks as they cannot be trusted due to the information coming out of the country.

i was made to understand that after the last batch of refined crude that has been paid for with the support of the banks is delivered to the country there might be scarcity of fuel due to lack of funds for importation.

Lets just keep our fingers crossed and see where all these will lead us.

Majority of Nairalanders are employees, most of which don't understand the impact of Sanusi's actions on businesses.
I wish I could put a little sense in these folks man! Teach dem just a little economics, so they can understand the correlation btw the loans thier employers obtain and the paychecks they get at the end of the month !

Sanusi's moves have practically collapsed the credit system in Nigeria and that would in turn have adverse effects on the economy.
Most banks are now on a loan recovery drive and all have now become risk averse.
When the the Financial crises hit America the result was a credit freeze, and the US Government was sooo worried that it did everything in its power to re-ignite credit.
The impact of Sanusi's actions would start sometime around end of October when  the country has exhausted July imports. Nigerians would start whinning, by which time it would be too late.
As you've stated, the sector that would be most affected is the importation of petroleum products. Enough fuel scarcity!

Who is CNPP?? Conference of Menene?? They can't even face their mates(PDP) that have been chancing them all these years, they are here talking!

How can he resign? No not at all.
He has to face the consequences of the mess he has created. Who will then inherit the mess!
He cannot create a mess and just resign like that. The is the highest form of irresponsibility.
After he would have cost the economy hundreds of thousands of jobs and closed the few businesses left, then he will just resign?
Naaaah! Not like that!

[quote author=z-murda link=topic=318133.msg4466815#msg4466815 date=1251884373]Good question.

I have collected loads of loans from banks in the UK and the US without putting down a dime except for my good credit history and credit ratings. I don't particularly see a big deal in collecting loans when you can repay it back/can service it and you have the means to.

I think we should move from this petty banking thing, where only cronies get loans in Nigeria. I wanted a loan, no one gave me. I started a business with foreign loans and they all want to be my banker. Its depressing.[/quote]I agree fully well that loans can be given out without collateral. However, one of Sanusi's reason for axing the Bank execs is the fact that they gave loans without collaterals. An act which the article points him guilty.

The banks been punished today are the banks that were best at helping small businesses!
Oceanic and Intercontinental bank were generous when it came to issuing loans to small businesses.

funkybaby:
this is nothing but a whole bunch of lies aimed at discrediting:
1. sanusi lamido
2. dele olojede
3. next newspapers

sanusi approving loans without collateral? joke of the year ! i had the opportunity to work in a firm where he was a top member of the management board - that man is a ''no-nonsense man''. very strict and he wants everything done by the book.

regarding the source of the money dele olojede used in establishing next newspapers, ask any staff of next newspaper and you will be informed.

and the source of these lies  ''the times of nigeria''

In the same way you can vouch for Sanusi, thats the same way lots of other folks can vouch for Akingbola and a couple other of the bank execs.!

Its good to want everything done by the books, but common, its obvious Sanusi might be losing his mind in the way he is going about this nasty campaign. This guy is better off as an EFCC Chairman than a "Manager of a complex and derailing Economy" like Nigeria's!

Asides, Funky, how come you worked with a Sanusi Firm, and at the same time appear to know a couple of Next Newspaper staff?
Could that be a coincidence or is there some kind of link btw the Sanusi firm and Next Newspaper?
I must add that I like Next Newspaper and the quality of their reporting supercedes that of any other Nigeria Newspaper!

Looks like Sanusi was also into the game of issuing loans without collateral.

CBN Governor, Sanusi, Gave N1.56B Loan Without Collateral At First Bank!
Sun Aug, 30 2009

By Tobi Smith


As the ripple in the banking sector continue to escalate, more and more people are being caught in the dragnet. The Times of Nigeria can exclusively report that current CBN Governor, Sanusi Lamido, who is leading the effort to recover “non-performing” loans, gave a loan of N1.56B to publisher of Next Newspapers, Dele Olojede, without collateral as the Executive Director Of First Bank.

Olojede was said to have borrowed the money last year when Central Bank of Nigeria (CBN) Governor, Lamido Sanusi, was First Bank Executive Director in charge of risk management.

Many of the debtors have started repaying their loans to avoid being put on the next list of defaulters to be published by the EFCC.

Olojede’s headache is said to be the fact that the EFCC is after debtors, whether their loans are performing or not.

EFCC Chairman, Farida Waziri, recently told those raising eye-brows to pay first before complaining about the inclusion of their names on the debtors’ list.

The EFCC disclosed last Wednesday that it had arrested an additional 24 executives and other debtors, bringing to 39 the number of those in its custody.

Five bank MDs were sacked by the CBN on August 14, in part over alleged recklessness and financial mismanagement, which led to a debt profile of N1.1 trillion, given out mostly in loans without collateral.
The MDs fired were Cecilia Ibru (Oceanic), Erastus Akingbola (Intercontinental), Sebastian Adigwe (Afribank), Barth Ebong (Union), and Okey Nwosu (Finbank).

Except Akingbola, all are being detained by the EFCC, along with over 30 executives of the subsidiaries of the banks.

They have all been granted bail, but have not met the stiff conditions.           

Akingbola is said to be on the run.

Others grinding their noses against the cells of the EFCC include Samuel Adegbite, Toyin Phillips, Sani Adams, Bayo Dada, and Dayo Famoroti.

They also include Henry Onyemen, Niyi Opeodo, and Peter Ololo.
Waziri disclosed last Thursday that the EFCC has obtained a court order to detain the suspects beyond 48 hours, because their alleged offences are far beyond civil matters.

She urged the judiciary to refrain from granting frivolous interlocutory injunctions to the debtors, whom she accused of “economic sabotage” who would not be allowed to escape with their loots.

Olojede was said to have initially met Henry Imasekha last year to help him secure the loan from a new generation bank without success.

“It was after then he approached Hakeem Bello-Osagie, former United Bank for Africa (UBA) Chairman, who introduced him to Sanusi,” the source recounted.

Aside the loan, it was learnt that Bello-Osagie, Nasir el-Rufai (former Federal Capital Terrority Minister), and Nuhu Ribadu (former EFCC Chairman), invested in the newspaper.

“Our main concern now is to ensure that First Bank’s name does not appear on the list of banks being owed.

“We have sent people to Olojede to pay up before the EFCC gets wiser,” the source added.

Link: http://www.thetimesofnigeria.com/Article.aspx?id=2140

What a wonder!! What is Nigeria into with this Sanusi guy! 100 billion Naira spent to print 420 billion Naira. 
This is crazy! What is General Sanusi up to!
Looks like Nigeria is in for some real drama!

Enjoy the article!

CBN spent N100bn to print N420bn for troubled banks - We ’ll print more naira to save other banks - CBN - Reps set for showdown with CBN gov

From Odidison Omankhanlen, Gbola Subair, Friday Ekeoba and Idowu Samuel - 02.09.2009

THERE are strong indications that the Central Bank of Nigeria (CBN) expended over N100 billion to print the N420 billion bailout funds for the five troubled banks in the country.
The cost of printing the currency was borne by the apex bank at the normal rate currencies are printed, which is usually three times less the value of the current value of the naira.
However, the CBN has said that it will print more naira to bail out more banks as it concludes auditing of 11 other banks in the ongoing audit process.
The currency notes, which were printed abroad, was done without the approval of the National Assembly, a development which the legislature had kicked against as usurpation of its power by the CBN. All efforts to get the response of the apex bank proved abortive.
It will be recalled that the CBN governor, Mr. Lamido Sanusi, while responding to a question at a Town Hall meeting with stakeholders in London recently on how the CBN sourced the N420 billion it recently injected into five banks in the country, said: “We printed money. We created an asset on the balance sheet basically to pump money into the system because money supply was negative in the first half of the year. We did not borrow money.”
The CBN had on August 14 sacked the chief executives and executive directors of five banks; Oceanic Bank International, Intercontinental Bank, Afribank Nigeria, Union Bank of Nigeria and FinBank, over issues bordering on breach of corporate governance and insider-related abuses.
He noted that the failed banks had N747 billion non-performing loans and other exposures totaling N2.3 trillion in their books. The CBN injected N420 billion as life support into the banks. Union Bank of Nigeria received N120 billion as the largest beneficiary; Oceanic Bank, N100 billion; Intercontinental Bank, N100 billion; Afribank Nigeria, N50 billion; and FinBank, N50 billion.
Subsequently, the CBN published the names of individuals and corporate debtors of the banks and through the efforts of the EFCC, huge recoveries had been made.
Meanwhile, the House of Representatives is bracing up for a showdown with Central Bank of Nigeria (CBN) governor, Mr. Sanusi Lamido Sanusi, over his injection of N400 billion into five distressed banks without seeking the authorisation of the National Assembly.
The House is even irked by the insistence of the CBN governor that the apex bank in Nigeria did not require any form of clearance from the National Assembly to offer such a loan to the affected banks to save them from collapse.
Indications that the House would not take the issue casually with the CBN emerged on Tuesday following series of meetings by the principal officials on the steps to take to call the Central Bank governor to order.
The House, which is currently on end of the year recess, is expected to issue a strong statement on the action by Sanusi, which members were said to have viewed as a violation of the constitution.
Nigerian Tribune learnt that the manner the CBN had been addressing the issue of the five troubled banks, most especially the role being played by the Economic and Financial Crimes Commission (EFCC) in clamping the former bank executives into detention, at the alleged prompting of the CBN, will be the major issue to be discussed by the Representatives on their resumption at the end of the month.
The Principal House officials during their meetings were said to have considered the necessity of calling the CBN governor to order by way of summoning him to explain reasons behind his actions.
The House Committee Chairman on Land Transport, Honourable Benard Udoh, who confirmed the position of the House Leadership on the crisis in the banking sector in a chat with the Nigerian Tribune, said members would not spare Sanusi on the actions he had taken so far.
Meanwhile, Sanusi and his management team are to appear before the Senate Committee on Banking today to answer charges of improper appropriation of money to the five troubled banks.
Sanusi himself disclosed this on Tuesday in Abuja at a press briefing held after the 210 edition of the Monetary Policy Committee (MPC) meeting. According to Sanusi, the N420 billion given to the five troubled banks was not a bailout but financial intervention to bring back those banks into a position where they would be able to meet their contractual obligations to their customers, stating that the ongoing debt recovery efforts in these banks was to ensure that the depositors and the banking industry were not endangered.
Disclosing that the apex bank had concluded the audit process of 11 other banks, the CBN governor said at the end of the day if any of these banks were found to be defective, the CBN would print naira to bail them out.
“We are going to create money, we will increase money supply to provide financial intervention to bail out any of the banks in the recently concluded auditing for the next batch of eleven banks,” the governor said.
On the furore generated by the CBN bailout of the five banks, the CBN governor said the apex bank did not need any appropriation to bail out the banks, stressing that what the CBN did was to lend money to the affected institutions.

Link: [url]http://www.tribune.com.ng/02092009/news/news3.html
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This Sanusi guy is a disaster in the making and he wants to take the whole country down with him!!

Sanusi is a disaster in the making. Does he have to take the whole country down with him??

sounds ridiculous, but abstinence is not a bad idea for now man!

Ibime:
Its quite obvious you were the one who needed the refund from your higher institution. Britain and Yankee are also printing currency at this very moment. For a country with $30bn reserves, I do not consider $2bn worth of quantitative easing to be extreme. Yankee printed $300bn to buy junk assets from their financial institutions whilst Britain also printed £125bn.

Ibime, you surely do need a refund! Even if partial.
Seriously, you should know that there are only 3 currencies in the world that can actually use quantitative easing without experiencing inflation! And that's the Euro, Pound and Dollar. Reason been that much of that money would be sold outside it's shores for other countries to hold or utilize in international trade transations.
And to think that 420 billion Naira is about 25% of this year's budget!
Its called Sanusi's Sudanese styled economics!! Hyperinflation in the making!

Very perfect analysis!
While the North has very well calculated strategies to progress their ideologies, the southerner truly does go it alone.
So much for "one Nigeria"!

The guy (Sanusi) is like a bull in a China shop. His moves are too suspect!
He does need to explain where he got that money!

[quote author=El-Pacino link=topic=317370.msg4460271#msg4460271 date=1251797888]Papabrown,
am really surprised that we still have somebody like you in this country,you need to move out from your shores and see the caliber of people the Northerners has in stock.[/quote]El Pacino, I know! And I have many of them as friends. Mind you, I speak their language.
There is this misconception that acting politically correct automatically equates to being an intellectual. That's nonsense!

ziddy:
You're a very foolish guy, even more foolish than I initially gave you credit for, if you actually believe that garbage you've typed up there.

Mr Zidddy or whatever you call yourself! I have my strategies and I know what I'm doing! You don't mean a thing to me so I can choose to ignore you. However, out of courtesy, I will give you the benefit of doubt and attribute your rant to sheer ignorance.
On the issue of foolish, I bet you man, you can't stand anywhere near me in any fora in which I stand. Your intellectual capacity doesn't match man. . . . .nah, not your type!! So if I'm anywhere near foolish, then I wonder what you are!

@darqly
If you understand Nigeria, you'll know that anything is possible. Sanusi has practically destroyed the private sector(not with his reforms), but with his attitude. I don't care much about his Northern Agenda- none of such agendas(JAMB, Quota system, Federal Character, ETC) have helped the northern masses anyway.

What I care about is the damage he is doing to the country's future. Seriously, how can businesses or an economy thrive without loans. This guy has made nonsense of practical economics. The banks are now scared stiff to give out loans, entrepreneurs are now averse to taking loans. This is ridiculous.
Nigerians are very sentimental, and the only way you can get their attention is with ethnic, tribal or religious issues.

@Topic
Why would First bank choose to retrench 450 staff at a time there is crisis in the sector. It just doesn't make sense especially when you consider that such a move would send signals that you are in distress, so you are trying to downsize. There is much more to it. And Sanusi is definitely liable!

Jarus!!! Nice article, no doubt! It's very logical  & well articulated.
But I'm sure you know, I very much disagree with you.

Comparing Vanguard's article with that of Businessday doesn't exactly fit.
Businessday's article says: There is a rat in your car, so you check your car and wow! there really is a rat!
Vanguard's article says: There is going to be a rat in your car in some days time. You check today, there is no rat, then  some days later, you find a rat!
The two articles are different. Businessday reported on a situation as it were, Vanguard reported on a plan that was being hatched.

@Na_So
Thank you ! You re right on point.
Vanguard report or not, you don't need an astrologist to tell you that with the way Sanusi is going, whatever is left of the Nigerian economy is about being destroyed.

The Sanusi game plan is on! Watch as events unfold.
The banking industry is about to be turned into a typical government institution where quota system rules.
The retrenchment of First Bank workers is to pave way for the introduction of almajiris into the system!
Watch as events unfold! I pity for Nigerians!

I wrote this in Nairaland on March 24th 2009 and many folks were shouting blue herring!! It is already happening!

It is the same Northern Cabal that has held Nigeria back all these years, trying to take over the banking industry which they lost a grip of during the consolidation exercise!

It's a pity how ignorant Nigerians(many of them Nairalanders) keep helping these very few oligarchs rape them of every opportunity and resource they have!! You better get wiser!You've been raped with JAMB,Quota system, Land Use act, Federal character and all the other jargon they've used over the years. Now its time for the banks!
If they succeed in making Government buy stake in the top 5 banks, the first thing they would introduce is Federal Character! They sack half the people working in these banks and fill them with their illiterates , the same way they did NNPC, NPA and all the other government agencies!
You better wake up!

https://www.nairaland.com/nigeria?topic=250760.msg3637915#msg3637915

bb

The merits of non interest banking cannot be denied. Whether we call it Islamic banking or whatever, it is okay to have such banks in Nigeria.
The problem is when you creep up with an agenda like Sanusi is doing, takeover some already built up banks and then hand them over to Islamic banks!
This is immoral and would further divide the already very fragile cacophony of a country called Nigeria.
They tried to set up Jaiz Bank a few years ago, everybody was fine with it, but the bank couldn't raise the required 25bn naira.
To now take over banks other people built up with their sweat and blood and hand them over on a platter to these Islamic banks is a slap on the face of the Islamic religion itself.

Dude, let me ask you a question.
How come "daft idiots" have ruled us for so long?
How come our National assembly and Governors forum is filled with "daft idiots"?
In Nigerian, "Daft idiots" have always ruled!
"Daft idiots" taking over the banking halls is a much easier thing!

Sanusi's gameplan is unfolding fast.
Why is he so in a hurry to accomplish this agenda?
I thought he should be more sublime about his moves.

I have said it time without number, many Nigerians will only wake up to Sanusi's plans when they see Almajiri SSCE holders have taking over the banking halls. So much for quota system.

Truth be told, I am tired of commenting on Nairaland!
Too many blind folks live here men! Seriously.

This is the link to the exact article:

[url]http://www.vanguardngr.com/2009/08/25/group-plots-takeover-of-five-top-banks/comment-page-1/#comment-40050
[/url]

I am watching closely to see Sanusi's next move. The guy has lost a lot of credibility already especially with the irregularities in the debtors list.
The legal angles are already taking shape as the courts have ordered the release of the arrested Bank MDs.

Whatever agenda is on the cards would definitely fail this time.

On March 23rd 2009 Vanguard wrote this article(below) exposing the ploy of some forces to create problems in the banking industry.
The purpose and intent of the ploy alongside their propagators were described.

Funnily at the period this article was written First bank was allegedly involved in demarketing Intercontinental bank. (There is high level proof and evidence to this). The First Bank MD at the time was Sanusi(Now CBN Governor).

Read the article below. Comparing Vanguard Newspapers findings at the time to the events that have begun to unfold in the industry is indicative of strategic implementation of a specific agenda.

Vanguard predicted 5 banks being targeted. Vanguard predicted creation of confusion in the industry. Vanguard made a couple other predictions which have begun to unfold.
Read excerpts from the article.

Group plots takeover of five top banks       E-mail
Written by Omoh Gabriel & Emeka Mamah   
Monday, 23 March 2009


LAGOS—ANTI-CONSOLIDATION forces have regrouped with the hope of dismantling the structures and forcing a takeover of the top five banks in the country, Vanguard can now reveal.

The grand plan by the group is to cause panic and uncertainty in the industry and make the target banks look unsafe for depositors.

Meantime, indications emerged yesterday that the Federal Government may announce the names of a new Governor of the Central Bank (CBN) and the Auditor-General of the Federation (AGF) in April just a few weeks before the tenure of the incumbents run out.

However, the Arewa Consultative Forum (ACF) has expressed concern over what it described as the rapidly deteriorating liquidity situation in the banking industry and tasked the Central Bank (CBN) to make public information on causes of the development as well as the scale of the crisis.

Vanguard investigations revealed that the aim of the anti-consolidation forces is to cause loss of public confidence in the banking industry and compel the Federal Government to move in by injecting funds. Further, they ultimately plan to instigate government to take equity holdings in the targeted banks.

Vanguard gathered that the group at work is made up of former bank owners who lost out during the consolidation exercise, a powerful clique in the present government, and some aggrieved persons in three of the six geopolitical zones in the country who felt left out in the consolidation exercise.

Presidency sources disclosed that those who felt left out in the consolidation exercise are up in arms to recoup what they felt they lost during Obasanjo years.

Part of the plans hatched by the group is to ensure that the incumbent Governor of the Central Bank, Professor Chukwuma Soludo, does not get a second term. The plan is also to ensure that whatever gains consolidation recorded are discredited. This, it was learnt, was meant to force the President to act quickly in the matter of appointment of a successor to Soludo as they anticipate that the president’s slow move may scuttle their dreams and cause the renewal of Soludo’s re-appointment for a second term.

The group’s second game plan is to make Nigerian banks look unsafe in the eye of the banking public. Part of the game is to spread rumours that some banks are unsound and are on the verge of collapse. They send out text messages to individuals and account holders passing wrong information on their target banks. At the moment, the group’s target is one of the high-flying new generation banks where they have sent out several messages.

To all those trying to act politically correct (trying to act detribalised), saying Sanusi has no agenda, watch as events unfold!!
I think you are just slow naturally, so it might take u sometime to understand events.

Sometimes in order to act more advanced, we stay foolish! Thats exactly what i can see here with those that can't see Sanusi's handwriting!
You would only realise what has happened when the banking industry goes the way of the NNPC, et al.

Whether we like it or not, most things in Nigeria and the world at large are controlled by these three ills of ethnicity, religion and race!
We cannot run away from it. Ethnicity, Religion and Race are the factors most used in political decisions worldwide.

Wars are fought till today, immigration policies are formed, national strategies are outlined over these three factors- ethnicity, religion and race.
So, to all those insisting we get blind to the ethnic/religious motives of the CBN Governor, I beg to differ.

Sanusi is only acting true to type. He has an agenda which has been predicted long before now!!
But I already see his end sha. He has already bungled the whole thing legally!Not a very smart guy at all.