Khd95:
Senator representing twitter constituency alias mr common sense.


U seems to be very active online,no traces of u when it comes to nation issues,i mean how come u havent iniated or sponsor a bill to at least drive home ur common sense points

and is it not a national issue he's discussing? Oya get out

TSA






E pain am.

Our twitter senator speaks b4 thinking, very shameful. Let him go and sponsor a bill to that (solution) and come back to talk online.

the delayed appointment of ministers and delayed signing of the budget contributed about 40% to our current recession.

I'm afraid he is right.

The effect it has on the nigerian economy is one disadvantage of the TSA.

But lets look at the big picture for a minute. Banks can't keep surviving on government funds(which is also mostly tied to oil proceeds). This is the first step to take in moving away from an oil-driven economy.

Let us all seek a Nigeria that will still have a strong and vibrant economy when oil eventually fails us completely. We have the population to do that. We can still be like China.

God bless us all!

jargons.the country is just not earning its sufficient amount of foreign currency,its not quantum physics.we should be thankful its not a full scale recession.

The sudden total implementation of TSA has its upsides and downsides.
I recall that during the previous administration, in a certain agency, you had to "roger" to a specified account number before you could get ur training allowance, education grant, salary increment etc.
Your own entitlements.
The TSA has exposed and plugged a lot of financial leakages in many agencies esp in the aviation and maritime sectors(where I have had dealings).
Now ur entitlements and benefits come straight from CBN. Like clockwork; As and when due. Nobody in accounts asking you to roger them.


The down side, of course, is that people are suffering now cos there is no money flowing in the economy.
The change was too sudden, no soft landing.

Agimor:
Don't mind that twitter senator of a guy .He is good at ascribing blames and will never proffer solutions.

And Lai Mohammed, Adesina and PMB is not??

oduastates:
Nothing to steal anymore Bruce. All those who used to keep government money in fixed deposits and pocketing the interest while staff salaries are left unpaid .

Government money goes to the government account.
The banks should do what banks elsewhere do.

1 Develop products that they can sell to their customers.
2 Invest in start ups and take a stake in the business.
3 invest in critical infrastructure and collect tolls.
e.g build housing or take stakes in building firms.

Monthly mortgage payment are like tolls. Likewise
A Student loans
B Road tolls
C Toll bridges
D Water.

If an when government need them for a programme(e.g to distribute bursaries, farmer's loans) , they will be called upon

Lol.

This guy doesn't understand the real role of banks in an economy.

Banks leverage deposits to create money and credit , that in turn, stimulate and expand the economic activities.

The amount of deposits the banking system has is directly proportional to the amount of money and credit they create to fuel economic expansion.

Draining 4-5℅ of GDP from the banking system at once , for any reasons whatsoever, is unheard of, talkless of doing it in a monoproduct economy at a time economic contraction.

babyfaceafrica:
Shameless twitter senator

sir/ma, kindly mention five senators that are more active and intelligent than Bruce.
Thanks.

blueto:
the implementation of the TSA was being done in phases or gradually by the previous govt.

No wonder Obasanjo had to admit that Buhari is not economically sound despite their current fraternization.

i see nothing wrong wit d full "TSA"policy implementation,,its as only xpose our economy to b only govt driven,..in a supposed mixed economy,,ours banks depending on govt funds is really absurd.
the only mistake d FG made abt d TSA is pullin funds out n puttin it in2 one account one bank,,,shuld av bin rationin of govt parastatals to all banks,,e.g 5 parastatals to evry established banks ,,that way d bottlefeeding wuld stil av bin maintain n d economy wonnt b dis choked...my view i stand to b corrected

USA in 2008 spent approximately $700 billion to reverse her recession. How much can we spend and how?. Even our external reserve is not more than $30 billion.
God will help Nigeria, left 4 m$ I think we need to increase our exports but how?

Khd95:
Senator representing twitter constituency alias mr common sense.


U seems to be very active online,no traces of u when it comes to nation issues,i mean how come u havent iniated or sponsor a bill to at least drive home ur common sense points

Free the senator pls.
Address the national economic issues he has raised.
Did he make sense or not?
A learned fellow has just lectured us and u are here attacking him.
Do u even attend sch at all?

blueto:
the implementation of the TSA was being done in phases or gradually by the previous govt.

the reason was that the previous govt understood the fact that the Nigerian banking industry & by extension the economy was primarily driven by government spending & while there were concrete plans to make it more private sector driven, it knew that pulling out government funds from the banks in one fell swoop would negatively impact the economy, might lead to a recession, create instability in most banks, restrict the ability of banks to loan money to investors, threaten existing loans and other negative consequences.

hence the gradual implementation, with banks adjusting gradually to the changing times.

But unfortunately for the Nigerian economy, the certificateless cattle rearer who was devoid of economic knowledge and proficiency was voted in and without even considering the repercussions of the swift implementation of TSA, quickly implemented it in full scale and blamed Jonathan for failing to implement it in full scale, of which ultimately submerged the economy into recession.

No wonder Obasanjo had to admit that Buhari is not economically sound despite their current fraternization.

Pathetic bigot. Why didn't we get any warning concerning this from the camp of you and yours? You guys can spin cluelessness into absolute stupidity and celebrate it as heroism.

Agimor:
Don't mind that twitter senator of a guy .He is good at ascribing blames and will never proffer solutions.

That does not take away the fact in what he said. It is clueless and stupid to withdraw money from commercial banks and put it in CBN where the money does not add any value to business and economy. It is stupid thing to do when your economy is dying!

[size=20pt]Talk is cheap.

Has Nigeria's Twitter Senator of the Year paid his debts of billions of naira?
His own recession started even before TSA. [/size].

blueto:
the implementation of the TSA was being done in phases or gradually by the previous govt.

the reason was that the previous govt understood the fact that the Nigerian banking industry & by extension the economy was primarily driven by government spending & while there were concrete plans to make it more private sector driven, it knew that pulling out government funds from the banks in one fell swoop would negatively impact the economy, might lead to a recession, create instability in most banks, restrict the ability of banks to loan money to investors, threaten existing loans and other negative consequences.

hence the gradual implementation, with banks adjusting gradually to the changing times.

But unfortunately for the Nigerian economy, the certificateless cattle rearer who was devoid of economic knowledge and proficiency was voted in and without even considering the repercussions of the swift implementation of TSA, quickly implemented it in full scale and blamed Jonathan for failing to implement it in full scale, of which ultimately submerged the economy into recession.

No wonder Obasanjo had to admit that Buhari is not economically sound despite their current fraternization.

gab! Your senator Commonsense actually lacks commonsense. Nigeria is in recession simply because we operate a mono economy, and the price of that special commodity that keeps us afloat is down, down and down.

blueto:
[s][the implementation of the TSA was being done in phases or gradually by the previous govt.

the reason was that the previous govt understood the fact that the Nigerian banking industry & by extension the economy was primarily driven by government spending & while there were concrete plans to make it more private sector driven, it knew that pulling out government funds from the banks in one fell swoop would negatively impact the economy, might lead to a recession, create instability in most banks, restrict the ability of banks to loan money to investors, threaten existing loans and other negative consequences.

hence the gradual implementation, with banks adjusting gradually to the changing times.

But unfortunately for the Nigerian economy, the certificateless cattle rearer who was devoid of economic knowledge and proficiency was voted in and without even considering the repercussions of the swift implementation of TSA, quickly implemented it in full scale and blamed Jonathan for failing to implement it in full scale, of which ultimately submerged the economy into recession.

No wonder Obasanjo had to admit that Buhari is not economically sound despite their current fraternization[/s]

Trash

This common sense Senator that didn't have a problem with FG spending N169bn monthly on salaries (Recurrent Expenditure) and N29bn on roads all year (Capital Expenditure).

He was a friend to government then, didn't pressure government to act right.

Now he's in the position to make laws to stop current government, but he rather be addressing social media audience and stoking ethnic division.

Stop tweeting and spearhead the immediate and unconditional passage of PIB.

Your constituents stand to gain more. Remember them and stop pitching them against the State.

plaetton:


Lol.

This guy doesn't understand the real role of banks in an economy.

Banks leverage deposits to create money and credit , that in turn, stimulate and expand the economic activities.

The amount of deposits the banking system has is directly proportional to the amount of money and credit they create to fuel economic expansion.

Draining 4-5℅ of GDP from the banking system at once , for any reasons whatsoever, is unheard of, talkless of doing it in a monoproduct economy at a time economic contraction.

You have a good point but you exergerated its degree of effect. TSA effect is negligible and is merely being exergerated by people who oppose the current admin for either political or economic reason.

TimeManager:
Trash

all u did was just 2 write trash, why not counter his write up with facts if u have any reasonable one, indeed Nigerians deserve the kind of leaders they get

TimeManager:
Trash

Those guys can spin cluelessness into heroics. Lol

Omeny:

Free the senator pls.
Address the national economic issues he has raised.
Did he make sense or not?
A learned fellow has just lectured us and u are here attacking him.
Do u even attend sch at all?

no nah education i attend,we are tired of him lecturing us bout common sense or addressing issues as u rightly said.

My question is when will he start to do tangibles thing,not just to tal and talk

blueto:
the implementation of the TSA was being done in phases or gradually by the previous govt.

the reason was that the previous govt understood the fact that the Nigerian banking industry & by extension the economy was primarily driven by government spending & while there were concrete plans to make it more private sector driven, it knew that pulling out government funds from the banks in one fell swoop would negatively impact the economy, might lead to a recession, create instability in most banks, restrict the ability of banks to loan money to investors, threaten existing loans and other negative consequences.

hence the gradual implementation, with banks adjusting gradually to the changing times.

But unfortunately for the Nigerian economy, the certificateless cattle rearer who was devoid of economic knowledge and proficiency was voted in and without even considering the repercussions of the swift implementation of TSA, quickly implemented it in full scale and blamed Jonathan for failing to implement it in full scale, of which ultimately submerged the economy into recession.

No wonder Obasanjo had to admit that Buhari is not economically sound despite their current fraternization.

Chia....this country is full of very dull people. Even in the international community they emphasize the fall of crude oil pirice before they even talk about Buhari's policies. Even if they mention h policies its abou fx restrictions. I have never even read in any international news media or from any international economist even the gele wearing woman that TSA caused reccession. Its only bitter clowns like u and the useless senator that will never tweet about his 8 local govt state that can not pay salaries till now or how he couldn't run a simple business successfully. Yet he as an opinion about the economy of Nigeria which he and his friends feasted on for years. The dolts that want to eat their cake and have it.

Jorussia:
the delayed appointment of ministers and delayed signing of the budget contributed about 40% to our current recession.

Ministers

USA doesn't have a Sports Minister or ICT Minister, but they are best in the world in those two endeavors.

Delayed budget
Nigeria has never passed budget early before so why is this one different.

Emmm hhhhnm ghhhmmm ! Mr. BAD LOAN BRUCE LEE !

ABEG JUST GO PAY YOUR BAD LOAN FIRST and then we shall take you serious !

SEN. BEN BRUCE ......

CHAIRMAN SENATE COMMITEE ON TWEETER !
AND

GENERAL OVERSEER COMMON SENSE !

mikeapollo:


That does not take away the fact in what he said. It is clueless and stupid to withdraw money from commercial banks and put it in CBN where the money does not add any value to business and economy. It is stupid thing to do when your economy is dying!

are commercial banks meant to survive on govt money in the first place? This logic is really illogical. Nigeria is simply in recession because of our mono kind of economy that is oil dependent. If the price of oil moves to the $100 margin the economy will bounce back in days. We are simply going tru this because we failed to invest in other sectors wen we had in abundance. Bruce should keep quiet and stop ranting.

shaddoww:
The more dis guy talks, d less intelligent he appears. So TSA reduced d price of crude oil, it stopped the release of money for capital projects for months due to budget delay, it reduced our foreign reserves too abi. And lastly, was it TSA dat borrowed money from banks in billions n refuse to pay?

The TSA debacle is a major factor why the Nigerian economy is in recession.

The drop in crude prices is just added bonus!

I agree.

Standing5:
You have a good point but you exergerated its degree of effect. TSA effect is negligible and is merely being exergerated by people who oppose the current admin for either political or economic reason.

No sir.
The effect is not being exaggerated at all.

In fact, the destructive effects are mathematically predictable.

Most people don't how banks operate , how they leverage deposits, how they create money, and how their credit- creating abiabilities fuel and expand economic activities.

Because banks are highly leveraged, suddenly and forcefully removing N3tr , 4-5℅ of GDP from the banking system is a lunatic act that has mathematically predictable destructive consequences.

The structural damage to the economy will take decades to undo. Mark my words.

Khd95:
no nah education i attend,we are tired of him lecturing us bout common sense or addressing issues as u rightly said.

My question is when will he start to do tangibles thing,not just to tal and talk

What other tangible thing do u want from this gentleman now again my brother?
He's trying he's best nau.
Hundreds if not thousands are under his employment in his conglomerate of biz.
How many of our senators past n present can burst of this kind fit?
Among other reasons,on this issue of economy that he talked about,he simply just told us the truth.
Go and reason it out.