₦airaland Forum

Moving slightly away from the topic, my mind goes to the issue of how the youth want an end to the Era of recycled politicians and believe they can make a change somehow.

Truth is that while the notion is admirable, it is a recipe for disaster giving the status quo using this thread as an example. A larger percentage of those commenting seem not to understand the role of ministers. Someone actually put a succinct list of the roles & responsibilities of a finance minister. It's actually a lot more than that.

If we think that a minister is just a figure head, then it's okay to pick an agronomist and make him minister of health after all he has a permanent secretary he can boss around to get the job done.

It is true we all can't know everything but we can do well to know something about everything.

Educational, political and socio-economic enlightenment are the tools the youth of this country need to oust out our aging politicians.

oluwaahmed:
She's a trained/seasoned auditor. She would hav bn best fit for Auditor General of d federatn. Ders a diff btwn sme1 who drives a palce 2 d profitable & sme1 wantin 2 knw d loopholes 2 prevent leakage in a system. They are two dft set of skills. Hence she is a square peg in a round hole. Am sure even d company's she's d MD are audit or related firms.
I wish her success in making our lives better.

Spot on. I think her assignment basically, is to audit government revenues, expenditures and the likes. Seek out loopholes ditto and bring same to the knowledge of the government. Thereafter, a Substantive Finance Minister will be heralded in. She is needed at this stage for the purpose stated. U can quote me, in the face of any cabinet reshuffle, she would be among the first set of casualties.

Moreso, presently, the VP is acting in the capacity of the coordinator of the economy. He has been attending series of economic summits on behalf of the government as well as chairing some of those economic summits organised locally.

36STATES:
She just got her post-graduate diploma this year, while commissioner for finance in Ogun State? She must have paid for it because it takes at least 30 hours study time every week to complete a study of that size, even though UEL is one the most undesirable universities in Uk. So how did she combine it with her duty in Ogun state?

Why can't Yorubas bring someone with the academic quality we expect? I will never allow any of my relative to attend University of East London..........and that's where a minister of finance got her qualification.

Is this another Enoch Opeyemi of Riemann Hypothesis
Why not bring someone to show the Igbos you can do it also?

I'm currently doing a post-grad diploma in Railways at the University of Newcastle while working as a transport consultant in London. Lectures are held every 2 week, for a period of some months. It is very possible to complete a post-grad diploma over 2 years. it does not require " 30 hours of study time per week".

Try and get facts right before defaming someone's name.

Ugosample:
Lol!!!!! You just confirmed your ignorance. ;S
As one who have seen both sides, this is not to knock your hustle, but accounting is as narrow as ****

Economics is a broad based profession, spanning across Development economics, monetary economics and the list is endless. You think the Chinese miracle was driven by accountants? Leele onye isi di ka okuko ;S

It was economic modelling and a synchronized blend of economic policies that brought about the Chinese miracle, spanning across:

1) Which economic system to adopt?

2) Which monetary and fiscal policy to adopt?

3) What exchange rate policy to adopt?

and the list continues.

With una narrow profession, how can you draft a broad based policy design that woyld take the economy to the next level?

Efulefu di ka gi

And you are talking of consolidating micro and macro economic variables? mumu like you

Just go and sleep, your brain is obviously overheated.

Anu Gambia

I never said economics is narrow nor accounting is wide and if u have good reading skills , you would see where I wrote When accounting consolidate micro and macro economic variables, it will surpassed economics .... with that assertion alone , you don't need to list all the macro economic variables that guided Chinese success because I already admitted accounting lack the tools in evaluating these parameters........

but because your brain dey hitch you while your fingers are shaking in the hotness of your body, you typed without adequately reading what you were replying. next time read before typing OK.

No wonder u guys fail a lot , stop being a fool OK. Knowledge is advancing.

PassingShot:
The Economist or whatever they call themselves should be ashamed to label someone with this CV as unqualified for our Finance Minister.

Apart from the president who knows what he wants an FM to achieve for the nation, no other person is qualified to dictate who should be our Finance minister. Not USA, not World Bank, not IMF and surely not the yeye Economist.

With our madam Gele's over qualification on paper, was the economy not ruined under her coordination? It's obvious these Western countries don't wish us well.


I ask again, did NOI leave a robust economy despite unprecedented earnings?

Under her there was massive looting, indiscriminate waivers for luxury goods, failure to improve our savings, failure to diversify the economy, failure to boost earnings from other resources especially solid minerals, more debts to the nation, failure to be able to pay federal workers' salaries in March and April 2015, etc. I can go on and on. So forget her overhyped paper qualification. They may be good to get her a juicy job at the world bank but SHE FAILED with our economy.

under NOI did the state governors ever complain of not being able to pay 18k minimum wage but what is happening now?

Goldencollins:
under NOI did the state governors ever complain of not being able to pay 18k minimum wage but what is happening now?

How old are you?
You reason like a ten year old carpentry apprentice.

Kagame:
Kemi is a small round peg in a big round hole,her qualifications and experience are mediocre when compared to the position,I can pull a thousand Linkedin profile of nigerians with equal or much better qualification and experience.I would have preferred Doyin Salami in that position but Buhari in his wisdom has appointed Kemi instead.

Its still early in the days and I think Nigerians should give her the benefit of doubt,I know she must have been following the conversations around her qualification for the job so its up to her prove her worth.

how many apc meeting salami Abi na provolone don attend

and who says she actually worked to achieve those especial the UK stuffs..

go to a couple of seminars even the ones that has got nothing to say ad next thing they award your something similar...
make she perform na wetin I'm after...

Ibime:
This is not an appropriate CV for a finance minister.

I am not a wailing wailer BTW before you think otherwise. I am firmly for Buhari

Pls educate us on what an appropriate CV for a finance minister should look like? There must be PhD and all that..isn't that what you're gonna say?..The Economist that wrote that shameful article on her has never come out to condemn their own equivalent of the finance minister in the UK, George Osborne who has just a first degree only in History and nothing more. We're truly our own worst enemies.

Nah well don

yommyuk:
Finance Commissioner
Ogun State Government
July 2011 – Present (4 years 5 months)Abeokuta

Managing Director
Quo Vadis Partnership
June 2010 – June 2011 (1 year 1 month)
Strategic consulting in financial management and investor relations.

Managing Director
Chapel Hill Denham Managment
September 2002 – March 2010 (7 years 7 months)

Senior Manager Global Risk Management Solutions
Price Waterhouse Coopers
March 2000 – October 2002 (2 years 8 months)London, United Kingdom

Manager Internal Audit
Prism Consulting (London Borough of Southwark)
1996 – 2000 (4 years)London, United Kingdom

Manager Internal Audit
London Underground Limited
1994 – 1995 (1 year)London

Audit Senior
Goodman Jones
1990 – 1993 (3 years)London, United Kingdom

Accounting Assistant
British Telecom plc
1989 – 1990 (1 year)London

Education

University of London

Postgraduate Diploma, Public Financial Management
2013 – 2015

University of East London
BSc, Applied Economics

Organizations

Institute of Chartered Accountants England and Wales
Member
Institute of Chartered Accountants Nigeria
Member

https://www.linkedin.com/in/kemi-adeosun-bb72bb26

Bollove:
I never said economics is narrow nor accounting is wide and if u have good reading skills , you would see where I wrote When accounting consolidate micro and macro economic variables, it will surpassed economics .... with that assertion alone , you don't need to list all the macro economic variables that guided Chinese success because I already admitted accounting lack the tools in evaluating these parameters........

but because your brain dey hitch you while your fingers are shaking in the hotness of your body, you typed without adequately reading what you were replying. next time read before typing OK.

No wonder u guys fail a lot , stop being a fool OK. Knowledge is advancing.

I understand perfectly what you wrote before, my comprehension skills are too notch. So pray tell, how do you integrate micro and macro economic variables to accounting? You guys should just stick to your forensic accounting, auditing, etc.
And lastly, the field of economics is evolving at a fast rate, with new fields cropping up every day. Get that into your coconut head.

Goodbye and all the best in whatever you do.

[b][/b] Woe is Nigeria, this woman is ill qualified for high level ministerial responsibility. Cv translated, local adult education college to railways clerk to Nitel clerk, come home to fools employers with Nigerian English intonation and bottom power, finally enter chapel hill denham. This woman bears more than a passing resemblance to Governor Ibikunle Amosun of Ogun State. Any relation.

yommyuk:
Finance Commissioner
Ogun State Government
July 2011 – Present (4 years 5 months)Abeokuta

Managing Director
Quo Vadis Partnership
June 2010 – June 2011 (1 year 1 month)
Strategic consulting in financial management and investor relations.

Managing Director
Chapel Hill Denham Managment
September 2002 – March 2010 (7 years 7 months)

Senior Manager Global Risk Management Solutions
Price Waterhouse Coopers
March 2000 – October 2002 (2 years 8 months)London, United Kingdom

Manager Internal Audit
Prism Consulting (London Borough of Southwark)
1996 – 2000 (4 years)London, United Kingdom

Manager Internal Audit
London Underground Limited
1994 – 1995 (1 year)London

Audit Senior
Goodman Jones
1990 – 1993 (3 years)London, United Kingdom

Accounting Assistant
British Telecom plc
1989 – 1990 (1 year)London

Education

University of London

Postgraduate Diploma, Public Financial Management
2013 – 2015

University of East London
BSc, Applied Economics

Organizations

Institute of Chartered Accountants England and Wales
Member
Institute of Chartered Accountants Nigeria
Member

https://www.linkedin.com/in/kemi-adeosun-bb72bb26

Zelex9:
I'm currently doing a post-grad diploma in Railways at the University of Newcastle while working as a transport consultant in London. Lectures are held every 2 week, for a period of some months. It is very possible to complete a post-grad diploma over 2 years. it does not require " 30 hours of study time per week".

Try and get facts right before defaming someone's name.

Is "transport consultant" a translation for bus conductor? Peshe don warn us we no gree hear, "if dem ask you for change, stone dem"

PassingShot:
How old are you?
You reason like a ten year old carpentry apprentice.

Smh. This is an insult to all carpentry apprentices

StOla:
It is no news that Bretton Woods institutions want to have a continued hold on the economic policy of emerging economies.

It is time Nigeria severs that link now and forever.

I don’t see why a home grown economist/finance expert cannot be at the helm of affairs.
Hear someone like Henry Boyo analyse financial issues, and you wonder if our past "world qualified" ministers had any intelligence upstairs.

But for her stint as commissioner for finance in Ogun State, I would have said even Kemi Adeosun is not Nigerian enough for such sensitive position.

The day we begin to appreciate the concept of economic security, we will put a curtain between our finances and these foreign establishments.

Same reason I do not rejoice over an ex Shell or ex Mobil staff having any influence over our national oil and gas agencies or ministry.

By default, such people do not have a nationalist/patriotic orientation, besides being too capitalist in their approach to solving issues.

So because you cannot accept Kemi is under-qualified, Nigeria should sever it's global alignments? Change conductors reasoning tho.. Nigeria has been scammed. SMH

hahn:
Smh. This is an insult to all carpentry apprentices

Not to those above ten years.

PassingShot:
Not to those above ten years.

It's an insult to all of them below ten years

melvinjames:
Local solutions? Her problem would be international not local. Being finance minister shouldn't be an on the job training.

Her problems are majorly local and then international. The question is how to move Nigeria forward in instituting fiscal discipline and policy management which is a team thing. I don't think certificates have been responsible for success, how many certificates is Dangote holding or Folawiyo or Innoson? Nigeria needs basic economic managements and NOI was a failure with all her World Bank and Harvard ratings , to me we need home grown guys to handle that ministry not stooges.mschew

Ibime:
An appropriate CV for a Finance Minister does not include a mere BSc from UEL, one of the worst Universities in UK, and which was a mere polytechnic at the time she graduated.

She does not have the educational background to handle the complex macroeconomics involved in that position.

I believe you can do better by applying for that post. One of the best we had based on your analysis just left us with harrowing experience, allow this one to work. There are lots of certificated failures out there in Lagos. Am wary of your mentality. Then what if she attended ESUT, OOU, or BUK, to you she would be an illiterate, can u think better now?

mandarin:
Her problems are majorly local and then international. The question is how to move Nigeria forward in instituting fiscal discipline and policy management which is a team thing. I don't think certificates have been responsible for success, how many certificates is Dangote holding or Folawiyo or Innoson? Nigeria needs basic economic managements and NOI was a failure with all her World Bank and Harvard ratings , to me we need home grown guys to handle that ministry not stooges.mschew

Okonjo Iweala was not a failure. The system is corrupt and only one person cannot clean it up. I'll be back with some facts. to show that she wasn't a failure.

O.k. I'm back

The first achievement I hail her for was making public knowledge, what each state of the federation was collecting from the FAAC. In other words, residents of each state knew how much their state governor was collecting.

Second, she advocated that the oil windfall be invested in a sovereign wealth fund, Using Norway and Libya as worthy examples to emulate in that respect.

The Nigerian Governors Forum kicked against it, That frog eyed bagger (Oshiomole) was very vocal in his opposition to this. They wanted to share the money, and indeed they later shared the money, not thinking about the future How sad.

Now shit hit the fan, and the same g.oil (Oshiomole) had the guys to point accusing fingers at NOI. How quick many Nigerians forget


Third, Nigeria's recurrent expenditure blew, and one of the major reasons for that was because of the increment in minimum wage from 7500 to 18000. This means wage increase across the board. Nigerians were cheering. Forgetful people.

Youth corpers allowance also increased to
19800. Corners were happy.

Add that to the subsidy payments which is a heavy load on Nigeria, and a drainpipe to the economy . This subsidy should be removed, but Nigerians went on the streets, O.k. Partial removal, but the bill is still high.

There are many other issues on ground, but space will fail me if I include them all here. All these facts are verifiable and you could check it out.

NOI wasn't a saint, but she wasn't a failure.

*drops mic*

TijaniAbu:
So because you cannot accept Kemi is under-qualified, Nigeria should sever it's global alignments? Change conductors reasoning tho.. Nigeria has been scammed. SMH

What qualification did she miss out on?

Ugosample:
I understand perfectly what you wrote before, my comprehension skills are too notch. So pray tell, how do you integrate micro and macro economic variables to accounting? You guys should just stick to your forensic accounting, auditing, etc.
And lastly, the field of economics is evolving at a fast rate, with new fields cropping up every day. Get that into your coconut head.

Goodbye and all the best in whatever you do.

You are wrong. Accounting is now integrated with financial analysis and economics. Yes economic variables may not be used at non decision making positions. But accountants are well versed in economic variables and are required to understand it for the profession. Accounting is so versatile now that an accountant can work anywhere in any industry. In both policy and non policy making positions.

Bollove:
Kemi Adeosun will outperform NOI in Buhari's regime.

NOI failed because GEJ was the weakest president in the history of Nigeria......... NOI excel during OBJ regime. Kemi Adeosun despite not possessing same qualification as NOI will have Buhari's total support and attention, and that is what will make her succeed.

She is not even alone , MoF has technocrats also CBN is there to provide Monetary policy support and area of fiscal policies, The Minister of trade is also a good analyst among many economists that can be consulted even Soludo is everly ready to help at least through criticism ....

what we need in Nigeria is not economists but Kemi Adeosun, we need somebody who has auditing and accounting experience to help boost our fallen revenue through diversification while also protecting our heritage from vampires though Audit.....

only we accountants are trained in revenue boost and safeguarding of money via Value for Money (VFM) ... we are also trained in implementing ZBB "zero based Budgeting which is a VFM tool.

it is not about the certificate alone, but the will and the support system.


Enough of all the bu.llsh.its from the economics profession, it is time for accountants to show economist their modelling and power points graph are all craps .... Economics only simulate world scenarios by manipulating macro and micro economic variables while hiding under ceteris paribus ..... Ceteris paribus is the highest fraud in economics profession because ceteris doesn't paribus in most occasion. These variables being held constant ain't constant in real world and in the longrun, they vary cuz they are stubborn.

Economics is only OK for academics not for professional world .... economics is only OK in classrooms and research institutions not strictly business corporations ....... No time to test run nonsense models.

There is no gamble in accounting, it is either you make profit or loss .... our valuations are real also our judgement.

ThanGod, we accountants are exploring econometrics now like never before, very soon we shall advance the course of knowledge and create our own simulating tools ..... Time for economics to be relegated in the sphere of knowledge and corporate world.

Even Jarus ran away from economics and parachute into accounting via ICAN, .... he doesn't want to become a lecturer. lol ahahaha


Kemi Adeosun all the way...... Greatest Accountants, let's show them......

!!!!

started on a good note

but u ll later crash land...

underestimate macro economics at ur peril

fsb:
Moving slightly away from the topic, my mind goes to the issue of how the youth want an end to the Era of recycled politicians and believe they can make a change somehow.

Truth is that while the notion is admirable, it is a recipe for disaster giving the status quo using this thread as an example. A larger percentage of those commenting seem not to understand the role of ministers. Someone actually put a succinct list of the roles & responsibilities of a finance minister. It's actually a lot more than that.

If we think that a minister is just a figure head, then it's okay to pick an agronomist and make him minister of health after all he has a permanent secretary he can boss around to get the job done.

It is true we all can't know everything but we can do well to know something about everything.

Educational, political and socio-economic enlightenment are the tools the youth of this country need to oust out our aging politicians.

You make a whole lot of sense. but will the youths listen?

olasunky15:
started on a good note
but u ll later crash land...
underestimate macro economics at ur peril

Don't mind him.

baby124:
You are wrong. Accounting is now integrated with financial analysis and economics. Yes economic variables may not be used at non decision making positions. But accountants are well versed in economic variables and are required to understand it for the profession. Accounting is so versatile now that an accountant can work anywhere in any industry. In both policy and non policy making positions.

O.k. I wouldn't take anything away from your noble profession. However, That guy insinuating that economics would be rendered irrelevant is also wrong.

Economists also possess knowledge of accounting, especially those who specialize in International Economics And Trade Policy.

To bury the hatchet, let us say that the courses are in a way interconnected. Abi?

Ugosample:
O.k. I wouldn't take anything away from your noble profession. However, That guy insinuating that economics would be rendered irrelevant is also wrong.

Economists also possess knowledge of accounting, especially those who specialize in International Economics And Trade Policy.

To bury the hatchet, let us say that the courses are in a way interconnected. Abi?

He's right. Financial Analysts and Economists are the most similar. One focuses on the micro the other on both macro and micro. But accountants do all including manage the cash. Accounting is more broad than finance and economics. This is not to say that Economics is also not important. Because the decision making and analysis has a country wide view or world view. I summarize the professions like this:
Economics: analyzing economic factors and providing possible solution within professional parameter.
Financial Analyst: analyzing how these economic parameters affect the numbers.
Accountant: Recording the analysis of both the economist and financial analyst and making decisions on how to apply this information based on very strict rules of the profession. Which in turn can have a big impact on the company or country.

baby124:
He's right. Financial Analysts and Economists are the most similar. One focuses on the micro the other on both macro and micro. But accountants do all including manage the cash. Accounting is more broad than finance and economics. This is not to say that Economics is also not important. Because the decision making and analysis has a country wide view or world view. I summarize the professions like this:
Economics: analyzing economic factors and providing possible solution within professional parameter.
Financial Analyst: analyzing how these economic parameters affect the numbers.
Accountant: Recording the analysis of both the economist and financial analyst and making decisions on how to apply this information based on very strict rules of the profession. Which in turn can have a big impact on the company or country.

I still don't agree that accounting is broader than economics. But you have made good points, and further proven beyond doubt that these professions are interlinked and they need to work together, just like the organs of a body for the economy to function.

P.S. Do you have an economics background?

Besides, economics is very broad and touches every aspect of human existence e.g. Health economics, Petroleum economics, energy economics, Labor economics, Development economics, Monetary economics, Public Finance, Econometrics etc.
It is very wide, and would forever be relevant in the world