₦airaland Forum

D Duke:
please anybody that knows the disadvantage of selling phcn to the brazilians should please xplain it to me cos it seems too good an offer to be rejected considering the state our power sector is in.

, So you think the Brazilians will buy PHCN and ofcourse own all the existing transmission and distribution network not to talk of already generated power too and still let government control how they run the power sector?
What makes you think a power company will overprice PHCN, knowing fully well the comatose state of both our transmission system distribution network(which is essential in selling the power generated) and still gear up to set up the transmission system with its attendant huge capital investment required? Unless this story is not true then there is more to such a price tag thab meet the eyes.

I want to believe this is not true or just an exaggeration. To start with, I doubt if the whole of PHCN is worth a hundred billion US dollars. Unless these Brazilian investors are up to no good or are gunning for some political control, why would they want to buy PHCN, am assuming that would include power generation, transmission and distribution.
Unless the handlers of this country are fools, why would any country in their right senses sell all the aspects of electrical power to one particular company/country? Dont you all see the political suicide that might pose in the future.
Yes we support the liberalization of the power sector but that, in itself must be defined succinctly before we put the country in a tight corner that is unexpected.
First, to start with, no power company in their right senses will buy up PHCN for that amount and then start another round of heavy investment on transmission and distribution of electrical power generated. Infact, more than anything else, power transmission is capital intensive and in most cases is usually left in the capable hands of the government and not private companies( both for security and economic reasons). One of the biggest challenges of the FG has been in the transmission and distribution of power generated. It is common knowledge that most of the states that have taken the bold steps to build Independent power plants suffered setbacks in the area of transmission and distribution of the generated power to the consumer.
By law they are required to channel it to the national grid(PHCN which is FG owned) where it is to be transmitted & distributed nationwide. However, the reality is that, owners of these IPPs don't get paid their contirbutions to the national grid neither are their states beneficiaries of the generated power from the efforts of their state government at generating power.
For instance, Rivers state has invested over N84 billion to build gas propelled power turbines at Omoku, Trans Amadi, and Eleme; with total generation capacity of 375mw, 150mw which it produces is pumps into the national grid. Sadly, however, is the fact that the state does not get up to half the amount it pumps into the national grid for its own use.
Port Harcourt's peak power demand is put at 150mw; but the oil city, with over 4,000 companies registered with the Port Harcourt Chamber of Commerce and Industry (PHCCIMA) hardly gets 60mw daily. Today, load-shedding is the daily duty schedule of staff of the Port Harcourt zone of Power Holding Company of Nigeria (PHCN). So it is obvious the problem is not entirely that of generation but transmission and distribution of the power generated.
Government should lay off its hands from power generation and distribution and face squarely, without distractions, the transmission of the power generated by the private sector. Generation and distribution should be left to the private investors to come in, the capital intensive aspect, which is transmitting the power over long distances through different channels across the country at high voltage should be left in the capable hands of the government. As it is strategic, capital intensive and might pose a security threat in the hands of the private sector. No sane country leaves that aspect of its power to private companies to run or the cold hands of market forces. That way, government can still regulate, protect and provide the much needed sucre in the sector without any disdtractions from meddling with other aspects already taken care of by the private sector.
Finally, I think it is folly and shortsighted for anyone to argue for a total lay off government hands from power, it is very risky, in the event of a dispute between Nigeria and the countries with majority stakes in that area, our transmission network will be the first target, that will in effect paralyse the country's ability to cordinate anything between states. Long term effects and benefits must be analyzed before rushing off to liberalize anything, power sector is a far cry from telecom, you don't give it all out to outsider because you want investment. People should be reasonble when making comments on issues they barely understand the dynamics of their workings.

pdozie:
Infact if its possible they should not only sell PHCN but NIGERIA as a whole. Let Oyibo come and become our president, with NASS members all whites. EFCC under FBI - Then you will see Nigeria truly becoming a Giant it is under 2 years,

who is this raving eeeediot?
Make oyinbo also replace ur mama and papa too, monkey!

Heard that stuff on monday in lagos at work from a coleague. Funny enough, I had beans and bread yesterday, still dey consider am again today sef, but i no wan be anybody guines pig o, it does not mean one should not be careful o, state commissioner dey jones himself, does he think dem boko boys need reasons to kill anyone?

Let us stop decieving ourselves, the law is not enforceable. It is one thing to make a declaration, it is another thing to back it up by developing a system that enforces the law. Seriously, somethibg needs to be done to the eye popping exploitation of these landlords. Another aspect of these whole thing is the discrimination in it, for instance, my landlord wont rent his house to a fellow yoruba man because according to him, he may question his authority at some point. And I ve noticed since the last yoruba men left, we have been at his mercy, he does not let us see our utility bills, he goes to each flat and gives you a fix charge just like that. His family members occupy the first floor and I am so certain that they do not pay any of the utility bills, they prolly pay from our over-charge. The last time he increased the rent, it was 100% and nobody has said anything, when I got mad and questioned him, he told me it was my fellow igbo brothers that just moved in and they paid way more than he is collecting from us old tenants. He prolly thought I took his reference to the new tenant being igbo like me as a compliment, the reality is, this man purposely allows only igbo business meb in his house because he can easily exploit them. Am already making plans to leave the place anyway, I dont need some criminal landlord extorting me like this. ly members occupy the first floor and I am so certain that they do not pay any of the utility bills, they prolly pay from our over-charge. The last time he increased the rent, it was 100% and nobody has said anything, when I got mad and questioned him, he told me it was my fellow igbo brothers that just moved in and they paid way more than he is collecting from us old tenants. He prolly thought I took his reference to the new tenant being igbo like me as a compliment, the reality is, this man purposely allows only igbo business meb in his house because he can easily exploit them. Am already making plans to leave the place anyway, I dont need some criminal landlord extorting me like this.

It is obvious the CEO is very incompetent, just imagine the excuses he is giving us, nonsense! Seriously, instead of redeploying this guy, he is better of some other place not in the PHCN. For Bleep sake he is the CEO, he should have avenues to address issues such as that, how xcome they wont give him the right spare parts, manuals and all, did he sign any contract or procurement agreement with his chinese partners at all. His excuses are lame and laughable, gone are the days whe people give inability to read manuals written in chinese as an excuse for non-performance. Could it be the reason there has not been electricity in lagos since monday? nuals and all, did he sign any contract or procurement agreement with his chinese partners at all. His excuses are lame and laughable, gone are the days whe people give inability to read manuals written in chinese as an excuse for non-performance. Could it be the reason there has not been electricity in lagos since monday?

Is a reply realy neccessary?
Anyway, serve them, Charly boys right, let them feel how it is to be at the recieving end.
By the way, somebody should paste the lyrics for us to see jare!

[quote author=yusuf_@ link=topic=742322.msg8986334#msg8986334 date=1314089206]i only hope they would be willing to accept the Gesture considering the fact that Northerners Generally do not appreciate the idea of western education, and i'm just wondering why the emphasis on Northern Muslims? there are equally Muslims in the South / South-West. [/quote]actually, Hausa-Fulani muslims constitute almost 99.9% of the nuslim community in Imo state, so it is in order if he laid more emphasy on them.

Saif al-Islam, who has been seen as his
father's heir apparent, visited the Tripoli
hotel where foreign journalists are staying
to declare that the government was
winning the battle against the rebels.
He took journalists to his father's Bab al-
Aziziyah stronghold. Television footage
showed Saif smiling, waving and shaking
hands with supporters, as well as holding
his arms aloft and making the V for victory
sign.
"We broke the back of the rebels. It was a
trap. We gave them a hard time, so we are
winning," Saif said.
"Take up arms today, take up arms today,"
Saif told loyalists waiting to be given
weapons. "Inshallah (God willing) we will
attack the rats today," he said to cheers.
Saif's arrest had been reported both by
rebels and the International Criminal Court in
The Hague and his appearance before the
foreign media raised questions as to the
rebels' credibility.
He said Tripoli was under government
control and that he did not care about the
arrest warrant issued by the International
Criminal Court seeking him and his father
for crimes against humanity.
Gaddafi himself has not been seen in public
for several weeks before the rebels arrived
in the capital at the weekend. But when
asked if his father was safe and well in
Tripoli, Saif told journalists: "Of course."
World leaders urged Gaddafi, 69, to
surrender to prevent more bloodshed and
appealed for an orderly transition of power,
as the six-month-old battle for control of
the oil-producing North African nation
appeared to enter its final stages.
Firefights
Rebels swept into Tripoli two days ago in
tandem with an uprising within the city.
Reuters reporters saw firefights and clashes
with heavy weapons, including anti-aircraft
guns, as rebels tried to flush out snipers and
pockets of resistance.
Hundreds seem to have been killed or
wounded since Saturday. But Gaddafi tanks
and sharpshooters appeared to hold only
small areas, mainly around the heavily
fortified Bab al-Aziziyah compound in
central Tripoli.
Civilians, who had mobbed the streets on
Sunday to cheer the end of dictatorship,
stayed indoors as machinegun fire and
explosions punctuated some of the heaviest
fighting of the Arab Spring uprisings that
have been reshaping the Middle East.
U.S. President Barack Obama, saying the
conflict was not over yet, cautioned rebels
against exacting revenge for Gaddafi's
brutal rule. "True justice will not come from
reprisals and violence," he said.
The president also made plain that the
United States would oppose any group
within the loose coalition of rebels from
imposing its power over other parts of
Libyan society.
"Above all we will call for an inclusive
transition that leads to a democratic Libya,"
Obama said.
In an audio broadcast on Sunday before
state TV went off the air, Gaddafi said he
would stay in Tripoli "until the end." There
has been speculation, however, he might
seek refuge in his home region around
Sirte, or abroad.
In a sign Gaddafi allies were still determined
to fight, NATO said government forces fired
three Scud-type missiles from the area of
Sirte toward the rebel-held city of Misrata.
Bab al-Aziziyah, a huge complex where
some believe Gaddafi might be hiding, was
the focal point of fighting in Tripoli.
"I don't imagine the Bab al-Aziziyah
compound will fall easily and I imagine
there will be a fierce fight," Abdel Hafiz
Ghoga, spokesman for the rebel National
Transitional Council, said in an interview
aired by Al-Jazeera.
The Arab network, quoting its
correspondent, said violent clashes were
also reported near the oil town of Brega.
Rebels had initially said they held three of
Gaddafi's sons, including Saif al-Islam. Al-
Jazeera TV said that one of them,
Mohammed, had escaped, adding that the
body of another son, military commander
Khamis, might have been found along with
that of powerful intelligence chief Abdullah
al-Senussi.
Fears of reprisal, revenge
Western powers are concerned that tribal,
ethnic and political divisions among the
diverse armed groups opposed to Gaddafi
could lead to the kind of blood-letting seen
in Iraq after the overthrow of Saddam
Hussein.
In a move that could ease tensions, a rebel
official in the eastern city of Benghazi said,
however, that efforts were under way to
make contact with authorities hitherto loyal
to Gaddafi.
Foreign governments which had hesitated
to take sides, among them Gaddafi's Arab
neighbors, Russia and China also made clear
his four decades of absolute power were
over.
A U.S. State Department spokeswoman said
Libyans who said they represented Gaddafi
were making "more desperate" efforts to
negotiate with the United States in the last
24 to 48 hours.
Washington did not take any of them
seriously because they did not indicate
Gaddafi's willingness to step down, she
added.
French President Nicolas Sarkozy, who took
an early gamble on the rebels and may now
reap diplomatic benefits, called on the
Gaddafi loyalists "to turn their back on the
criminal and cynical blindness of their
leader by immediately ceasing fire."
Late on Monday, Sarkozy spoke to Britain's
David Cameron by telephone about the
Libya situation, according to a press release
from the French presidential palace.
"They both agreed to pursue efforts in
supporting the legitimate Libyan authorities
as long as Colonel Gaddafi refuses to
surrender arms," the statement read. Paris
has offered to host a summit on Libya soon.
Cameron also spoke to Obama on Monday
night.
Oil production
Western leaders reiterated their refusal to
commit military forces to peacekeeping in
Libya, which could mean tackling rearguard
loyalists using urban guerrilla tactics.
NATO has backed the revolt with air power
but eschewed the ground combat that cost
U.S. and allied lives in Iraq and Afghanistan.
Britain's International Development
Secretary Andrew Mitchell told the BBC there
was no possibility of British military
involvement being expanded in Libya.
"We do not see any circumstances in which
British troops would be deployed on the
ground in Libya," he said.
But some governments have had civilian
advisers in Benghazi for months, and the
swift military advance of recent days
revived questions about the shadowy role
of foreign special forces on the ground.
First signs emerged of moves to begin
restoring oil production that has been the
foundation of the economy and a source of
hope for Libya's 6 million, mostly poor,
people. Staff from Italy's Eni arrived to look
into restarting facilities, said Foreign
Minister Franco Frattini.
Italy, Libya's nearest European neighbor
and the colonial power until World War Two,
is a big customer for Libyan energy. But it
will face stiff competition from others
seeking a share of Libya's wealth -- a
competition some fear could test the ability
of untried rebel leaders to hold the country
together.

That's fair enough afterall, I benefitted from Tinubu's payment of our WAEC while in secondary school. I remember how me and my twiny happy die as we had about 10k that would ve otherwise gone into paying for the exams. . .thanks to oju yobor. .lol

That is what I am talking about. Nollywoods should take a step further than just making home videos that do not portray anything. Like seriously, if we have a good network of Cinemas in Nigeria-(not just silverbirds and a few others concentrated mainly in lagos) coupled with very good film production, I believe that 12million bucks will be surpassed in Nigeria alone not to talk of other African countries, europe and the Americas.
We need more Cinemas that can penetrate every nook and cranny of Nigeria not just lagos, portharcourt and Abuja. Even in these cities, the available cinemas can barely meet the demands. I find it a headache to have to move to Victoria island, lekki or Onikan just to see a movie, whatever happened to smaller but standard cinemas that used to be in virtually every LGA in lagos back then when indian, chinese and hollywoods action movies were the in thing. Mehn, investors should bring back those days jare! No be everybody get time and energy to dey drive go far just because u wan watch movies. I know a couple of states that will be hotcakes for cinema bizness if packaged well; Owerri, Enugu, calabar and so on. ese cities, the available cinemas can barely meet the demands. I find it a headache to have to move to Victoria island, lekki or Onikan just to see a movie, whatever happened to smaller but standard cinemas that used to be in virtually every LGA in lagos back then when indian, chinese and hollywoods action movies were the in thing. Mehn, investors should bring back those days jare! No be everybody get time and energy to dey drive go far just because u wan watch movies. I know a couple of states that will be hotcakes for cinema bizness if packaged well; Owerri, Enugu, calabar and so on.

To be honesy, I seriously regret my support of this very lame-brained president. Jonathan has got to be the most clueless president ever. He does not even approach issues with the urgency and seriousness they deserve, he is more concerned with PR and mending his already weak personality than face the problems head-on.
Like exactly what were the parameters used to arrive at the single digit inflation, crude oil sales? Apparently, that claim is either a gross distortion of the truth or the aforementioned parameter was his guide to arriving at such a ridiculous claim. The reality is that, there is no reflection of such a claim in our everyday life unless that was said to serve as a placebo, on the contrary, it is a common knowledge that prices of goods and services are at all time high.
The problem here is that we have a president who lacks the mental capacity to understand the submissions of his ministers, they(ministers) know that and are capitalizing on it. GEJ is neither cerebral or charismatic, he is more of say this sir, say that sir. . .he is not in the league of the Obamas, Sarkozy or even the Ghanaian president. It is a pity! Nigerians deserve better!
The problem here is that we have a president who lacks the mental capacity to understand the submissions of his ministers, they(ministers) know that and are capitalizing on it. GEJ is neither cerebral or charismatic, he is more of say this sir, say that sir. . .he is not in the league of the Obamas, Sarkozy or even the Ghanaian president. It is a pity! Nigerians deserve better!

Aderoux:
If this islamic banking is against the Nigerian constitution then it shouldn't be allowed to defend her unity. But since it is not against d Nigerian constitution, why deprive over 50% of the Nigerian citizen their religious rights for decades. Pls let them be, enough of these noise. Moreover the xtian fellow has pioneered so many institution and there was no controversy over it. Lets don't be one-sided over issues, if we do then we also are not helping the course of unity in this country.

You are a bonafide slowpoke that should not be allowed to escape into any intellectually tasking debate.
In case you did not know, the real crux of the matter is the unconstitutionality of having a religiously skewed financial system in a country whose constitution is written in pure secular terms.
May be you should first go and read up on the issues first befor mouthing off utter ignorance!ux of the matter is the unconstitutionality of having a religiously skewed financial system in a country whose constitution is written in pure secular terms.
May be you should first go and read up on the issues first befor mouthing off utter ignorance!

BetaThings:
But you economists always told us that
1. financial intermediation improves economic activity
2. mobilisation of savings will improve development

If the above are true, then why should the inclusion in the banking system (through Islamic banking) of people who do not want to collect or pay interest not aid economic development

When Soludo applied to join the Islamic Financial Services Board, was it in pursuit of Islamic agenda?
When SEC said they were going to introduce Islamic Finance, was it in pursuit of Islamic agenda?

What is christian agenda by the way? - to ensure that we only have a banking system that accord with their religious beliefs (since they are not complaining) through which they can save and finance their projects while depriving muslims (who are mindful of their religious injunctions) of access to banking  services.
Is that in accord with the wish of God? Don't tell me about unity. If you want to argue that, then you would have to scrap religious schools which teach difference, rather than unity

Mr man face the issues being discussed and stop getting all sentimental. you would have to scrap religious schools which teach difference, rather than unity   
[quote][/quote]Mr man face the issues being discussed and stop getting all sentimental.

Stooopiiiid Ignorant corrupt Money-bags that have ensured that Nigeria remains in tatters. Make retarded ghost catch the two M'orons make them begin spill beans on eacher and start mouthing off the atrocities they commited in this country. Who cares what they did or did not do, they are now a part of our history that is painful to remember.

ikooko:
You missed the point, really I don't want to appear as wasting my time explaining to you.

Nigeria is a secular state, it is misnomer for the CBN governor to be seen as nonsecular.
If he wants to introduce non-interest model in the banking sector fine but anything aside that is an aberration. Mind you banks have packaged non-interest loans for customers that requested for it.
Islamic bank have existed in this country prior to SLS time but they have existed within the laws of the land. It is the duty of those that wants Islamic banking to propagate it not CBN governor.

You may want to update yourself with introduction and implementation of Islamic banking in other secular nations and compare it with our case. This will give you more understanding of my point.

I like people like you, you know exactly what the issues are. Seriously, Nigerians-including our so-called leaders a majority of whom do not know jack about anything that is happening in the world of information, advance politics and in-depth knowledge of issues- need to keep themselves abreast with what is going on everywhere in the world. Many of us have very poor analytical skills and comprehension ability, we would rather dwell on jejune topics than take serious debates such as this one head-on. Every time this topic is brought up, you notice a lot of us do not even understand the real issues being argued, some try but come up with very folly excuses that renders their argument useless. I have said it a million times, the way Sanusi wants to impliment the so-called islamic banking in utter disregard for the constitution is the real crux of the matter not whether it is of islamic origin or that christians do not want to recognize the right of muslims to have it. Nigeria is not an islamic state, neither is our constitution written in a way that skews one religion to be higher than the other. It is nobody's fault that some people erronuosly believs that conventional banking has anything to do with christianity, that is a very poor way to look at history. Even the britain and America that people like to quote as examples of states with islamic banks are not christian states neither is their implimentation similar to what obtains in muslim states. The so-called islamic council set up by Sanusi's CBN to oversee the running of islamic banks do not exist in Britain for instance, they are left at the discretion of each islamic bank. Why use FG money to fund something that is supposed to be private, the CBN's job is to ensure there is level playing ground for every form of non-interest banks not create guidelines that give on due advantage to one against the other. Until people begin to argue issues and not sentimental bullcrap; Nigeria will keep sinking in abyss. ecular nations and compare it with our case. This will give you more understanding of my point.



[quote][/quote]I like people like you, you know exactly what the issues are. Seriously, Nigerians-including our so-called leaders a majority of whom do not know jack about anything that is happening in the world of information, advance politics and in-depth knowledge of issues- need to keep themselves abreast with what is going on everywhere in the world. Many of us have very poor analytical skills and comprehension ability, we would rather dwell on jejune topics than take serious debates such as this one head-on. Every time this topic is brought up, you notice a lot of us do not even understand the real issues being argued, some try but come up with very folly excuses that renders their argument useless. I have said it a million times, the way Sanusi wants to impliment the so-called islamic banking in utter disregard for the constitution is the real crux of the matter not whether it is of islamic origin or that christians do not want to recognize the right of muslims to have it. Nigeria is not an islamic state, neither is our constitution written in a way that skews one religion to be higher than the other. It is nobody's fault that some people erronuosly believs that conventional banking has anything to do with christianity, that is a very poor way to look at history. Even the britain and America that people like to quote as examples of states with islamic banks are not christian states neither is their implimentation similar to what obtains in muslim states. The so-called islamic council set up by Sanusi's CBN to oversee the running of islamic banks do not exist in Britain for instance, they are left at the discretion of each islamic bank. Why use FG money to fund something that is supposed to be private, the CBN's job is to ensure there is level playing ground for every form of non-interest banks not create guidelines that give on due advantage to one against the other. Until people begin to argue issues and not sentimental bullcrap; Nigeria will keep sinking in abyss.

nagoma:
@Rymz

"Let us get somethings clear, i think it is preposterous for anyone to suggest that countries like Malaysia, Saudi Arabia and some other muslim country are a success because they practice islamic banking, that argument is lame"

Where did you get this from? who said that ? No body and you wrote a whole lot of crap on a preposterous assumption which nobody presented! What a waste .

slowpoke, Dont you ever again in your life quote me if you can't understand the context of my argument. Besides, I was not responding to you cos I know you lack the mental ability for debating serious issues without talking crap about how ppl hate islam, the north and all that stooopid childish tantrums you like to throw. Piss off, ul ittle cretin!

n![quote][/quote]

Farida just like GEJ are big jokers!

binbass:
They hate islam with passion and thier religion cannot offer anything good like this to d society.

such a dumb a§s retard. . . What an ignoramus.

Let us get somethings clear, i think it is preposterous for anyone to suggest that countries like Malaysia, Saudi Arabia and some other muslim country are a success because they practice islamic banking, that argument is lame. Infact, the more successful islam countries are the ones that de-emphasize religion in the running of the economy, they know that won't work. Little wonder those countries are even a success, take for instance islam countries with heavy islamic bank presence like Iran and pakistan, what exactly can they point are the real and tangible effects of islamic banking in their countries? How has it reduced poverty, increase unemploymwnt, increased lending, bring down inflation rate in comparison to conventional banks in these countries? People just here no interest charge and they are clamouring for it without exactly asking what the pre-requisites are for obtaining their lones, what are the terms of agreements. Do you know that for instance, to borrow money from these islamic banks, a business will have to give full disclosure of its profits since the bank will have to go into a profit sharing partnership with the business. Like how many serious Nigerian businesse owners laden with all the multiple taxes and levies he has to pay both state and fed government, not to talk of overhead expenses will be willing to share the meagre profits they make just because they borrowed money from the banks. Do you all know that account holders in these banks are not entitled to any interest on the money kept in the vaults of these banks except when they are actually in business with the banks? With the nature of these banks they are heavily restricted to do just basic banking business hence the sources of funds for these banks are seriously limited, therefore, most of their funds will be going to very small businesses whom most of the times do not get the monies as they hardly meet the pre-requisites of these banks. Another worrisom thing again is the fact that most of the activities of these banks will be greatly sheouded in secrecy, for instance, in countries like iran and pakistan where they have islamic banking laws as their conventional banking system, the banks are not allowed to disclose the identity of account holders to the authorities, imagine a very porous country like Nigeria having banks whose actives can't be in the full glare of the public, gush, i shudder at the prospect of such happening.
The problem here is that we do not have a cerebral president or Senate with equipped knowledge of what the islamic banking system is all about. They are only concerned with the illusional benefits without understanding how they hope to achieve these. People citing britain and America as countries with islamic banks, you all fail to understand that in those countries, they operate under the guidance of non-interest rules and regulations od non-interest banking of the countries. They do not have any paralell islamic laws along side the secular laws that guides regular banking systems there. There is no such thing as an Islamic council operated by their federal banks to oversee islamic banking in those countries, those are left at the discretion of each of those islamic banks. Even in core islamic states that practice it heavily, they have had to amend their constitution to accommodate the demands of islamic banking in their country. Here in Nigeria, in the event of a litigation between any of these banks and a client, our legal system do not have the expertise to hear the cases on the basis of the country's constitutional provisions. Besides, with the violence and agitation by Boko haram in the north for sharia laws, it is only a matter of time before most of the conventional banks will be intimidated out of northern Nigeria in exchange for islamic banks. Already, some few days ago, Muttalab's Dad(whom obviously are the people pushing Sanusi and is the frontman for Jaiz bank in Nigeria) has already announced that the bank was going to be a regional bank( remember how Sanusi had to categorize our banks when he came in and gave us foolish explanations, now use your tongue to count your teeth). I see some power brokers in the north trying to use Sanusi to get some serious economic relevance and control for their region through the back door, Sabusi. Who ever does not see the plot is delusional, thinking there is going to be economic benefits for all Nigerian is laughable, wait until the so-called islamic council scheme you out with bottlenecks when you apply to their banks as a non-muslim. Whoever does not see the whole picture is not smart, why do you think they had to rush to nationalize those three banks before the resumption od the new finance minister, guys think hard, there is a great plot here.Let us get somethings clear, i think it is preposterous for anyone to suggest that countries like Malaysia, Saudi Arabia and some other muslim country are a success because they practice islamic banking, that argument is lame. Infact, the more successful islam countries are the ones that de-emphasize religion in the running of the economy, they know that won't work. Little wonder those countries are even a success, take for instance islam countries with heavy islamic bank presence like Iran and pakistan, what exactly can they point are the real and tangible effects of islamic banking in their countries? How has it reduced poverty, increase unemploymwnt, increased lending, bring down inflation rate in comparison to conventional banks in these countries? People just here no interest charge and they are clamouring for it without exactly asking what the pre-requisites are for obtaining their lones, what are the terms of agreements. Do you know that for instance, to borrow money from these islamic banks, a business will have to give full disclosure of its profits since the bank will have to go into a profit sharing partnership with the business. Like how many serious Nigerian businesse owners laden with all the multiple taxes and levies he has to pay both state and fed government, not to talk of overhead expenses will be willing to share the meagre profits they make just because they borrowed money from the banks. Do you all know that account holders in these banks are not entitled to any interest on the money kept in the vaults of these banks except when they are actually in business with the banks? With the nature of these banks they are heavily restricted to do just basic banking business hence the sources of funds for these banks are seriously limited, therefore, most of their funds will be going to very small businesses whom most of the times do not get the monies as they hardly meet the pre-requisites of these banks. Another worrisom thing again is the fact that most of the activities of these banks will be greatly sheouded in secrecy, for instance, in countries like iran and pakistan where they have islamic banking laws as their conventional banking system, the banks are not allowed to disclose the identity of account holders to the authorities, imagine a very porous country like Nigeria having banks whose actives can't be in the full glare of the public, gush, i shudder at the prospect of such happening.
The problem here is that we do not have a cerebral president or Senate with equipped knowledge of what the islamic banking system is all about. They are only concerned with the illusional benefits without understanding how they hope to achieve these. People citing britain and America as countries with islamic banks, you all fail to understand that in those countries, they operate under the guidance of non-interest rules and regulations od non-interest banking of the countries. They do not have any paralell islamic laws along side the secular laws that guides regular banking systems there. There is no such thing as an Islamic council operated by their federal banks to oversee islamic banking in those countries, those are left at the discretion of each of those islamic banks. Even in core islamic states that practice it heavily, they have had to amend their constitution to accommodate the demands of islamic banking in their country. Here in Nigeria, in the event of a litigation between any of these banks and a client, our legal system do not have the expertise to hear the cases on the basis of the country's constitutional provisions. Besides, with the violence and agitation by Boko haram in the north for sharia laws, it is only a matter of time before most of the conventional banks will be intimidated out of northern Nigeria in exchange for islamic banks. Already, some few days ago, Muttalab's Dad(whom obviously are the people pushing Sanusi and is the frontman for Jaiz bank in Nigeria) has already announced that the bank was going to be a regional bank( remember how Sanusi had to categorize our banks when he came in and gave us foolish explanations, now use your tongue to count your teeth). I see some power brokers in the north trying to use Sanusi to get some serious economic relevance and control for their region through the back door, Sabusi. Who ever does not see the plot is delusional, thinking there is going to be economic benefits for all Nigerian is laughable, wait until the so-called islamic council scheme you out with bottlenecks when you apply to their banks as a non-muslim. Whoever does not see the whole picture is not smart, why do you think they had to rush to nationalize those three banks before the resumption od the new finance minister, guys think hard, there is a great plot here.

Ieeeeeediot is there any such thing as a sunday holiday in the constitution? That some workplaces choose to lock shop on weekends makes it a christian thing? An aboki will always react to issues like a typical Mo'ron. While you are at it lets also cancel those facking ramadan and eidel fitiri bullcrap holidays too, enwe!

A symbian nokia phone has more capability than a blackberry can ever have- from a better and cheaper internet plan to accepting wide rang of third party software that enhances the capabilities of the phone. Good thing is even without a bundle plan, i can still browse and download with opera mini cheats. Besides pinging(which by the way can be done with a whatsapp software) there is nothing a BB can do that a good nokia phone can't do, be it an s60 2nd edition or a 3rd edition it will thump a BB. The selling point of a BB lies in its status symbol.A symbian nokia phone has more capability than a blackberry can ever have- from a better and cheaper internet plan to accepting wide rang of third party software that enhances the capabilities of the phone. Good thing is even without a bundle plan, i can still browse and download with opera mini cheats. Besides pinging(which by the way can be done with a whatsapp software) there is nothing a BB can do that a good nokia phone can't do, be it an s60 2nd edition or a 3rd edition it will thump a BB. The selling point of a BB lies in its status symbol.

bouzymill:
I see you are islamophobic. . . but thanks for indirectly driving home my point which is,  "Islamic banking" should not be viewed from a religious point of view, It should be ciriticised from its concept and implementation. I don't think it is only muslims who like Interest-free loan and I don't think only muslims would benefit from the whole thing.

You people especially on Nairaland are quick to take issues to Religion and tribalism. Two main concepts that are dragging our nation down. We don't want to welcome anything that could possibly help the country.

If Soludo brings a concept, common Nigerian muslims would say.  .  . He's trying to turn the country to a christian state. If Sanusi brings a concept, common Nigerian Christian would say he is islamizing Nigeria.

and here we are. . . at the same point for years. . . . . .  .

This is where most Nigerians are wrong, I tell people all the time to first look at the incompatibilities of setting up an islamic banking rules and regulation-even when there are existing laws that guide the setting up of non-interest banking which islamic banking is a subset of- and that of the constitutionally recognized stipulations.
Just because the mofos at the house of rep hurriedly got mesmerized by sanusi's phoney gestures and concluded they were ok with his unintelligent explanation of his thoughtless policies, does not neccessarily translate to amending the constitution to accommodate that. Besides, the most important thing here is threading carefully so that we dont set a bad precedence here. The only difference between the so-called islamic banking and other forms of non-interest banking is the introduction of religious tenets, even the so-called marked up charges are similar to interests collected by conventional banking. If Sanusi claims that the Islamic banks are for every Nigerian, then why do we have an islamic council made up of only muslim experts on islamic banking, why create a separate law guiding its operation when there are already existing laws that caters for all forms of non-interest banking. Will Sanusi chase with thesame zeal if tomorrow the christians decide they want their own banking system with christian principles that guides it. Besides, on what moral standing is he condemning the tenets of conventional banks when he built up his career serving and working in conventional banks. How does non-interest banking solve the catastroph that he has visited our financial sector with his very hasty and unplanned policies. Or he is just clutching at straws, thank God we now have a minister of finance that knows her onion, enough of this Mediocre's abragadabra policies that has worsen our fortunes.

bouzymill:
I see you are islamophobic. . . but thanks for indirectly driving home my point which is,  "Islamic banking" should not be viewed from a religious point of view, It should be ciriticised from its concept and implementation. I don't think it is only muslims who like Interest-free loan and I don't think only muslims would benefit from the whole thing.

You people especially on Nairaland are quick to take issues to Religion and tribalism. Two main concepts that are dragging our nation down. We don't want to welcome anything that could possibly help the country.

If Soludo brings a concept, common Nigerian muslims would say.  .  . He's trying to turn the country to a christian state. If Sanusi brings a concept, common Nigerian Christian would say he is islamizing Nigeria.

and here we are. . . at the same point for years. . . . . .  .

This is where most Nigerians are wrong, I tell people all the time to first look at the incompatibilities of setting up an islamic banking rules and regulation-even when there are existing laws that guide the setting up of non-interest banking which islamic banking is a subset of- and that of the constitutionally recognized stipulations.
Just because the mofos at the house of rep hurriedly got mesmerized by sanusi's phoney gestures and concluded they were ok with his unintelligent explanation of his thoughtless policies, does not neccessarily translate to amending the constitution to accommodate that. Besides, the most important thing here is threading carefully so that we dont set a bad precedence here. The only difference between the so-called islamic banking and other forms of non-interest banking is the introduction of religious tenets, even the so-called marked up charges are similar to interests collected by conventional banking. If Sanusi claims that the Islamic banks are for every Nigerian, then why do we have an islamic council made up of only muslim experts on islamic banking, why create a separate law guiding its operation when there are already existing laws that caters for all forms of non-interest banking. Will Sanusi chase with thesame zeal if tomorrow the christians decide they want their own banking system with christian principles that guides it. Besides, on what moral standing is he condemning the tenets of conventional banks when he built up his career serving and working in conventional banks. How does non-interest banking solve the catastroph that he has visited our financial sector with his very hasty and unplanned policies. Or he is just clutching at straws, thank God we now have a minister of finance that knows her onion, enough of this Mediocre's abragadabra policies that has worsen our fortunes.

[quote author=Ileke-IdI link=topic=736155.msg8932177#msg8932177 date=1313469934]Maybe because 99.9% of those ignoramus criticizing Islamic Banking are Igbos.
All these one na story, the thing go pass sha.[/quote]you would have been worse than a mo'ron if you had any sense than you already have. Always in the mood to be a b!tch. . . . .na wa o, abi one Igbo dude shine Ur congo e no pay?[quote author=Ileke-IdI link=topic=736155.msg8932177#msg8932177 date=1313469934]Maybe because 99.9% of those ignoramus criticizing Islamic Banking are Igbos.
All these one na story, the thing go pass sha.[/quote]you would have been worse than a mo'ron if you had any sense than you already have. Always in the mood to be a b!tch. . . . .na wa o, abi one Igbo dude shine Ur congo e no pay?

The Guy is idiot, he must have some deep seated igbo phobia to realy think that igbos are his problem. Confused mofo that has destroyed anything that is left of the financial sector with his whimsical policies.

Nigeria: Nationalised Banks - Sanusi's Consuming Instincts to Sanitise Banking System

Jide Ajani & Emma Ujah

14 August 2011

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analysis

This report examines the implications of what is being described as the messianic desire of Lamido Sanusi, Central Bank of Nigeria, CBN, governor, to sanitise Nigeria's banking system. How far is he prepared to go without rocking the boat?

Is Malam Lamido Sanusi a loose canon? Yes, Sanusi may be a canon! But, is he loose?

Well, if the penultimate weekend revocation of licences and subsequent takeover of three banks is anything to go by, then the lanky CBN governor may be on the loose.

Like a thunderbolt, his decision days ago to create another shockwave in the banking sector has left many wondering what the real objectives are.

CBN says it wants to safeguard depositors' funds!

Shareholders in the banks insist that Sanusi has an ulterior agenda.

Penultimate weekend, the licences of Afribank, Bank PBH and Spring Bank were revoked by CBN and taken over by Nigeria Deposit Insurance Corporation, NDIC, which created three bridge banks in their places. The banks were acquired by Asset Management Company of Nigeria, AMCON.

Before shareholders, managements and staff of the three banks could realise what was happening, their banks had exchanged hands twice within two days and completely rebranded by the beginning of the new week.

Afribank became Keystone Bank Limited, Bank PHB was re-named Mainstreet Bank Limited, while Spring Bank became Enterprise Bank Limited.

Though it was common knowledge that the three banks have been struggling for some time and that the 2009 bail-out, as well as the CBN appointed managements for the banks could not do much to pull them out of the woods, not many stakeholders expected that Sanusi would take the maximum action of revoking their licences before the September 30 deadline he earlier set for all rescued banks to recapitalise.

With the acquisition of the banks, NDIC and AMCON appointed new boards for them. Consequently, former Group Managing Director of Diamond Bank Plc, Mr. Emeka Onwuka, was made the Chairman of Enterprise Bank (former Spring Bank); former Managing Director of First Bank Plc, Mr. Jacob Ajekigbe, was named Chairman of Keystone Bank (former Bank PHB), while former Managing Director of Unity Bank, Alhaji Falalu Bello, became Chairman of Mainstreet Bank (former Afribank). In addition, Messrs Ahmed Kuru and Oti Ikomi were named MD for Enterprise and Keystone banks, respectively; while Ms Faith Tuedor-Matthews was appointed MD of Mainstreet bank.
[b]
[i][color=Black][b][i]The Securities and Exchange Commission, SEC, immediately suspended trading in the shares of the affected banks since they ceased to be publicly-quoted entities, with their purchase by AMCON. Investors' reaction was predictable -- shares in the banking industry nose-dived as they preferred to shed their stocks following what was considered as uncertainties in the sector. The directive to also place shares of Finbank, Intercontinental, Oceanic and Union Banks on technical suspension aggravated the fears of investors.[/b]
[/i][/b][/color][/i]
There have been sharp reactions by various interest groups with some criticizing CBN for acting in bad faith against owners of the nationalized banks, especially the marginal-shareholding members of the public who invested their hard-earned money in the affected banks and got nothing in return.

The Independent Shareholders Association of Nigeria, ISAN, under the leadership of Chief Sunny Nwosu, denounced the action and urged President Goodluck Jonathan to declare a state of emergency in the banking sector.

ISAN, which issued a statement last Sunday described the revocation of the licences of the banks as "a calculated subversion to the nation's economy and a threat to the people of Nigeria.

"CBN's resolution of recapitalization through bridge banks remains an attestation of failure and inept leadership by the current management of the apex bank toward finding a permanent answer to the nation's induced banking problems.

"ISAN is now vindicated in its posture that the Assets Management Company of Nigeria was floated to re-nationalise commercial and publicly-quoted banks. By this action, CBN has actualised the subsisting threat to revoke the operating licences of banks whose shareholders challenge in law courts the recapitalization method. ISAN rejects the revocation of the banks' operating licences and would further meet to discuss the next line of action."

The Centre for Social Justice, CSJ, also came down hard on CBN for revoking the banks' licences weeks before its deadline .

In a statement by its Lead Director, Eze Onyekpere, in Abuja, the centre said CBN should have honoured its own deadline and particularly given the fact that the banks could still find buyers within the period left.

The centre said : "We recall that CBN had given the banks up to the end of September 2011 to recapitalize. We further recall that one of the banks had negotiated with investors to infuse new capital into the bank but CBN refused to approve the investors. Revoking the licence of the banks about seven weeks to the expiration of the deadline of September 30 is not only an abuse of powers but a vindictive action without precedence.

Why did CBN fix a deadline if it had no intention of respecting same? No economy thrives in arbitrariness of the type perpetuated by CBN. This is simply not the rule of law but the rule of the jungle and the rule of the whims and caprices of CBN.

"The manner of taking over the three banks appears desperate and intends to overreach any challenges. First, CBN revokes the banks' licence, NDIC creates three bridge banks to run them on a temporary basis, possibly for three years and AMCOM acquires the bridge banks the following day. All these were done over a weekend, which days are not official working days. This smacks of a premeditated agenda to deny shareholders of the banks of interests in their investments. From the beginning of the so-called banking reforms, CBN never gave the shareholders any real chance of re-capitalising their banks.

"Justifying this action in the name of the protection of depositors' funds creates the impression that this is the only way that depositors' funds can be protected. This is not true. There are a number of other ways to protect depositors' funds and regulate banks without unnecessarily running down the banking system. CBN failed to consider the interest of shareholders in these banks. This is not the best way to create an enabling environment for private sector investment in the economy. CBN's action creates unnecessary panic and fear and does not promote confidence in the Nigerian economy.

"This takeover even questions the competence of the 'turn-around experts' who were posted to these banks by CBN. What value did they add to these banks and why were they not able to save the banks from this unwarranted takeover?

CBN's policies since the Sanusi era, from the controversial stress test for banks and the attempt to sell the banks, up to the present arbitrary revocation sends a strong message to the public that the regulation of the Nigerian banking system is not based on legal principles, logic or reason but by sheer dictatorship.

It said: "This cannot be the economic democracy we longed for. CBN needs a leadership that understands the role of the banks in the economy and the political economy of the underdevelopment of Nigeria. It does not need a leadership with a score and a grudge to settle, experimenting with people's lives and livelihoods.

"CSJ calls on the President and the National Assembly to review this take-over in the national interest. The CBN leadership has shown a lack of capacity to properly regulate the banking sector, a sector which is so vital to social and economic development. It should either be made to change its ways or leave the podium for more informed and experienced personnel."

CBN Deputy Governor, Dr. Kingsley Moghalu, who oversees Financial System Stability, has been defending the action of the apex bank which he said was to avoid a run on the affected banks and which could extend to others with grave consequences for the entire sector.

Moghalu posited that the banks were dead, effectively and that there was no alternative than to revoke their licences and allow AMCON take over in the interests of depositors and staff.

The Managing Director of NDIC, Alhaji Umaru Ibrahim, said even if the apex bank left the banks until the September 30, it would do no good as their capital had been eroded and no genuine investor would want to touch them. He insisted that the three banks could not attract buyers.

But the questions being asked are equally legitimate.

For instance, why did CBN set a September 30 deadline when it knew it was not ready to wait out the deadline before striking? Stemming from this, what was the hurry in nationalising the banks on a weekend?

How does Sanusi intend to respond to the increasing suggestion that the idea of nationalising the banks is to create a new set of cash cows from where some people can draw milk? Worse, though unfounded yet, there are talks of a vindictive move against the banks because there is no known banking institution of Northern Nigeria extraction that operates in the big league.

In the face of the shambolism that Sanusi appears to be creating in the banking sector, his messianic instinct may be negotiating a bend from a corrective lane to one which continues to create confusion.
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More than that, there are suggestions in some quarters that Sanusi's main targets of his so-called banking reforms escaped his guillotine in his first wave of attacks but eventually got at them with the tenure regime he introduced. And, that because he had already burnt bridges on his way, his only and best approach is to stick to what he considers best for the banking sector.

Mrs. Ngozi Okonjo-Iweala, the Finance Minister, is expected to assist President Goodluck Jonathan stabilise the economy and give it the needed fillip for growth. But how would this be achieved in the face of a banking sub-sector that is being serially rocked by what some are describing as a whimsical approach to regulation.

As Sanusi's rambunctious approach to banking reforms continues, the reality, however, is that the banking sub-sector would continue to operate in an environment of uncertainty.

This, no doubt, is bad for foreign direct investment because the impression being created is that the sector must anticipate an operating environment based on the mood swings of Lamido Sanusi.

Damn Gurl, you stand like a tall glass of water and am telling you up front, gurl, I am thirsty.

[quote author=alj_harem link=topic=732962.msg8915751#msg8915751 date=1313251210]LOL here is my taking

1. Tinubu does not control the SW or yorubas. You people have to get that

2. ACN is not a yoruba party because it won seats in edo, anambra, benue and next election states like sokoto awka ibom and borno would be ACN taking, Mark my words. Unlike APGA that is only in the SE.PLEAS TELL ME ANY OTHER STATE APGA WON IN ?

you can correct me

3. Hausa/igbo/yoruba are not the only Nigerians. We have ibibio, kanuri, tiv etc that can do a better job than hausa/igbo/yoruba. Then I asked; DO WE WANT AN IGBO/YORUBA/HAUSA president or dowe want A NIGERIAN PRESIDENT LIKE BUHARI SHOULD HAVE BEEN. Please answer the question

4. ACN and APGA WOULD NEVER EVER JOIN TO FORM A UNITARY PARTY. I am not cursing you people but this is a fact and I also stand to be corrected. Yoruba and Igbo are like oil and water, they can never mixed unless when cooked and the cooking in this case is if an outer comes to treaten yorubas and igbos, then they unite. Otherwise You people would never unite. too much bad blood between una

5. Tinubu can not lay down his pride for APGA, and even if he wants to, IT WOULD BE very very STU.PID of him to do so as he at the every advantage right now and APGA HAS NOTHING TO OFFER HIM. he has 3 states outside the SW zone and would get more next election.

He is rubbing shoulders with jonathan, OBJ, Ibb, Atiku and buhari etc No one in APGA has such powers even if the whole party combine, they can not do the same.

6. Fashola is more appealing to us the MASSES than any tribal president. If Ngige or Rochas surprise us by surpassing fashola's achievement then they stand a bargaining right.

lastly, the VP position is also very vry important. If lets say the North is going for presidentcy, then the VP must be from the SE for them to win

if the West is going for it, then the VP must be from the NE

if the SE is going for it the VP must be form NC/NW/NE

So the east is full of choices and this choices would tell us Nigerians if we are going to vote for them or not[/quote]No matter how hard an Aboki tries to be discerning, he will always betray the lameness in his thought process and make nonsense of his own logic by the time he is through with his lame arguements.
Tinubu does not control the SW or the Yoruba, yet in thesame breath you are arguing how the SE and SW will never mix cos emperor Tinubu will never lay his pride for APGA and how stupid it will be of him, if he even did it. Don't you see how you contradict yourself like a slowpoke all the time? Your hypocrisy is even worse as it lacks any refinement in its form of disguise; there you are jeering at Igbo and Yoruba inability to cooperate and achieve a goal while you hypocritically talk down on igbo presidency and instead presented other nigerian tribes, you did not forget to lend your phony logic to the possibilities of NE, NW,NC and SW becoming president while the SE plays second fiddle. Murfacking hypocritical cretin trying to sneak a candy bar like that fools anyone. Abeg go siddon jare, abokis and their malu logic. [quote author=alj_harem link=topic=732962.msg8915751#msg8915751 date=1313251210]LOL here is my taking

1. Tinubu does not control the SW or yorubas. You people have to get that

2. ACN is not a yoruba party because it won seats in edo, anambra, benue and next election states like sokoto awka ibom and borno would be ACN taking, Mark my words. Unlike APGA that is only in the SE.PLEAS TELL ME ANY OTHER STATE APGA WON IN ?

you can correct me

3. Hausa/igbo/yoruba are not the only Nigerians. We have ibibio, kanuri, tiv etc that can do a better job than hausa/igbo/yoruba. Then I asked; DO WE WANT AN IGBO/YORUBA/HAUSA president or dowe want A NIGERIAN PRESIDENT LIKE BUHARI SHOULD HAVE BEEN. Please answer the question

4. ACN and APGA WOULD NEVER EVER JOIN TO FORM A UNITARY PARTY. I am not cursing you people but this is a fact and I also stand to be corrected. Yoruba and Igbo are like oil and water, they can never mixed unless when cooked and the cooking in this case is if an outer comes to treaten yorubas and igbos, then they unite. Otherwise You people would never unite. too much bad blood between una

5. Tinubu can not lay down his pride for APGA, and even if he wants to, IT WOULD BE very very STU.PID of him to do so as he at the every advantage right now and APGA HAS NOTHING TO OFFER HIM. he has 3 states outside the SW zone and would get more next election.

He is rubbing shoulders with jonathan, OBJ, Ibb, Atiku and buhari etc No one in APGA has such powers even if the whole party combine, they can not do the same.

6. Fashola is more appealing to us the MASSES than any tribal president. If Ngige or Rochas surprise us by surpassing fashola's achievement then they stand a bargaining right.

lastly, the VP position is also very vry important. If lets say the North is going for presidentcy, then the VP must be from the SE for them to win

if the West is going for it, then the VP must be from the NE

if the SE is going for it the VP must be form NC/NW/NE

So the east is full of choices and this choices would tell us Nigerians if we are going to vote for them or not[/quote]No matter how hard an Aboki tries to be discerning, he will always betray the lameness in his thought process and make nonsense of his own logic by the time he is through with his lame arguements.
Tinubu does not control the SW or the Yoruba, yet in thesame breath you are arguing how the SE and SW will never mix cos emperor Tinubu will never lay his pride for APGA and how stupid it will be of him, if he even did it. Don't you see how you contradict yourself like a slowpoke all the time? Your hypocrisy is even worse as it lacks any refinement in its form of disguise; there you are jeering at Igbo and Yoruba inability to cooperate and achieve a goal while you hypocritically talk down on igbo presidency and instead presented other nigerian tribes, you did not forget to lend your phony logic to the possibilities of NE, NW,NC and SW becoming president while the SE plays second fiddle. Murfacking hypocritical cretin trying to sneak a candy bar like that fools anyone. Abeg go siddon jare, abokis and their malu logic.

The idiot deserves a bullet in the head, fooooool

At Houvest
Unless I did not get you the first time, I thought you were of the opinion that the "Me, myself and I" politics of the SW is changing or has changed, and your reference to Ribadu was to butress that point.
Anyway, I would like to see an all inclusive ACN if an Igbo must emerge as the party's candidate, the selfish politics of first putting oneself(because you are the sole financier of the party) as the flagbearer and later putting a docile replacement when it was clear nobody wants you must stop. Any agreement of alliance with other party and interest groups must be based on broader issues than for instance, the VP must be yoruba or that a post-dated later must be signed to ensure compliance of some selfish agreements and demands.
The reflections of decisions reached must be seen to be based on strong issues that will move both the party and the nation forward. Besides, the party needs to do more to attract diverse financiers to whittle down emperor Tinubu's highhandedness. And there should be a clear cut difference between what the party stands for and the Afenifere stands for, sometimes, i find it difficult to differentiate which is which.At Houvest
Unless I did not get you the first time, I thought you were of the opinion that the "Me, myself and I" politics of the SW is changing or has changed, and your reference to Ribadu was to butress that point.
Anyway, I would like to see an all inclusive ACN if an Igbo must emerge as the party's candidate, the selfish politics of first putting oneself(because you are the sole financier of the party) as the flagbearer and later putting a docile replacement when it was clear nobody wants you must stop. Any agreement of alliance with other party and interest groups must be based on broader issues than for instance, the VP must be yoruba or that a post-dated later must be signed to ensure compliance of some selfish agreements and demands.
The reflections of decisions reached must be seen to be based on strong issues that will move both the party and the nation forward. Besides, the party needs to do more to attract diverse financiers to whittle down emperor Tinubu's highhandedness. And there should be a clear cut difference between what the party stands for and the Afenifere stands for, sometimes, i find it difficult to differentiate which is which.

Now this is plane BS, innocent people or bystanders are going to fall victims to this so-called technology employed. How can you claim to identify somebody who has covered their face with a hooded top, big dark glasses and scarf by merely comparing pictures posted on facebook, or by the way they walk, aint that bullshit? Like they already have their suspects and the next thing is comparing features and all that crappy tales of unmasking them. Abeg make person hear word jare from this oyinbos sef, they like to present their assumptions if they were actually the case. Scheeew CCTV ko AIT camera ni. Na today we don dey hear all that hollywood exaggeration of crime investigations? Catch ppl with coverings all over their body na magic?