₦airaland Forum

them say police go fear u when hem no say u sabi ur right; no wahala...but how u go fit proof say police beat u during the detention, how u will u proof that u were maltreated at the station when it is just u against the police, how can u proof that police beat u up and force u to write a statement admitting what u never did, how can u ever proof that police took u inside a cell to be mercilessly beaten by harden criminals, how can u proof that u were illegally arrested when u are immediately branded armed robber upon ur arrest... how can u proof all these in a court of law so that u get judgment against the police....remember it is just u against the myriads of those men in black and the duty of proof is upon u!

Today April 9, 2012, I clock 40 years of age. I am thankful to God for everything but my heart is heavy because I seem to have failed so far!
Currently on a monthly salary of =N=440,000 and having worked in paid employments for eight years, I have no house or land of my own, I have a ramshackle looking five years old tokunbo car and a total investment and savings less than =N=200,000 with indebtedness to the tune of a million naira!
I am not bewitched or under a spell (I believe) but this failure stems from wrong decisions, unhealthy empathy and sentiments.
So far, I have lost about =N=7 million naira in monies invested in the businesses of family members and loan granted to friends to solve their financial problems. These monies are not coming back, they are completely lost! I do not drink or womanise but sometimes wish I do because at least I would have known the bottomless pit that sang my money.
I have survived 3 mass sack of staff in the banking industry and I am just wondering what life will look like if eventually I am also asked to go home, moreso, with my wife still struggling in her high risk business venture with a networth of =N=1 million. This is my second attempt at setting her up.
I am the eldest in the family of seven (from both sides of my two fathers). 3 members of these families are still in the higher institution and this responsibility is on me. I have 3 kids of my own with the eldest in primary 2. I pay a rent of =N=400,000 annually and really hope I and my family member remain in sound health so that I don’t have to incur any huge health expense.
All said and done, I am determined to succeed in this life. Analyse, advice and judge me!

With the level of fraud in this subsidy regime, seriously, it is getting clearer to me why the decision to remove subsidy is step in the right direction!!!!!!

I believe in subsidy removal because of its greater good even though i do not agree with the rush and method used so far. However, this NLC/TUC strike seems a complete rubbish to me. Rather than seat with government and pressure it to implement adequate palliative measures, they are busy showing how relevant they think they are. The same NLC/TUC workers are responsible for the mess going on with the subsidy since their members connive with these marketers to get subsidies for the PMS that were never imported. I just hope GEJ has the guts to stick to his guts so that these NLC/TUC threats of strike all the time will come to a end once and for all. For heaven sake, let NLC/TUC go on strike or organise mass rally for reasonable cause like punishing corruption that is actually the bane of this country; but how can they when their members in all the ministries and agencies have taken corruption as way of life. If this government is evil i believe NLC/TUC is a greater evil. God help this country!

In all my days in Nairaland, this is the most reasonable post so far. Lots of Nigerians in their usual emotional reaction to issues will leave the fundamental and exert the strength on less important issues!

prefers555
Insert Quote
''To every educated muslim on this , i should be seeing everyone of you mobilizing your fellow muslims and imams nation wide, publicly matching and denouncing these terrorist group with islam face. If you cant do that it only points to the fact that u are either cowards or u are fully in support of terrorism''. Angry

[size=8pt][size=8pt]i concur[/size][/size]

good decision. though we may not agree with everything he has done, i believe his actions and inactions got things moving in this country. he gave us stuff to agree n disagree on, his reforms so far is redefining d nigerian project. i thank him but only pray people coming after him will do far beta

A lot of people in this forum are just posting fake results and give false information that will give them some consolation even though they know these information are false. The greatest deservice you can do to yourself is to lie to yourself. It is not a do or die affairs guys!

the recent happenings in the north may actually be the end of CPC. no right thinking person would ever vote CPC again not with its antecedent for violence ''after shock''. i believe majority of those even doing the killing do not even have voters card in the first place

if u don't like one network just switch to another. forget this 'my main no' mentality. as for me i don't mind carrying 3 fones so long i can use as much as 5 networks at a go. if one network is messing up i just use the other one; with this price war currently going on it just keep getting beta for me, imagine me making call with an average rate of N5 PER MINUTE (as per my evaluation). with d way things are going, any network that is messing up as per service quality and price will just go out of business.

if u have to make a lot of calls like me, check this out:
i use MTN to call ONLY 6 numbers on my book (magic number inclusive) at N12/min on per second billing,
zain to make only zain number calls ( N12/min on per second billing-Post Paid),
glo to make 5 glo no call at 18k per second,
glo to make all other calls at N15/min on per second billing
etisalat to make N300 worth of free calls to my person on weekly basis

just carry this dua sim phones (the good ones) and u are good to go on all d network that suits ur preference! this is what i call d world at ur feet!

I have just bought a minibus for the haulage of goods for my business. I am however at a loss on whether to obtain a commercial or private plate number. Please advise me as some people say LASTMA disturbs haulage buses with private number.

I am intending to buy a volkswagen transporter to be used to carry heavy cargo (2.3 tonnes or 2300kg load) on regular basis. I need your advise if this van (diesel or petrol) can be used for that purpose without killing the engine in no time. Kindly advise me or provide me with alternative options.

atikuuuuuuuuuuuu!!!!!!!!!!!!!!!!!!!!!!! hmmmmmmmmmmmm!!!!!!!!!!!!!! finally the game plan has unfolded. Plant some bombs here and there, make the country look very unsafe to discredit GEJ, draw attention to the spate of insecurity under him and make him look unrelenvant. , and the games continues. My problem is do we have to kill innocent people to play this dirty game!!!!!!

How possible is it to browse on my laptop using the internet connection provided by my BB?

what is happening to the micro finance is a consequence of the current state of affairs in the commercial banks. many of the micro finance banks depends on the commercial banks and the support is no longer there for them. I hope all these play well in the long run.

Barring any unforeseen circumstance, some of the rescued banks will soon be sold to investors before the end of the year.

This follows the admission by the Central Bank of Nigeria (CBN), that it had received interest from several potential bidders for stakes in some of the 10 banks it was seeking to recapitalise following a N640 billion bailout earlier this year.

The CBN had set Thursday deadline for potential bidders to register expressions of interest, a move to test the appetite for acquisitions as the regulator sought to reshape Nigeria‘s banking landscape.

Speaking in Ghana on Thursday, the CBN governor, Mallam Lamido Sanusi, confirmed that the apex bank had indeed received some bids for the rescued banks, stressing that it would make public, further developments on the issue.

http://www.tribune.com.ng/18122009/news/news5.html

I hope we shalln't go back to status quo when the court start overturning some acquisitions in the banking sector. There are lot of shortcomings in the applauded CBN intervention. Time will tell.

Naija people, football is a game- an entertainment. Enjoy it and don't get stressed up because the eagles are not doing well. Mind you, Brazil will never win all the trouphies, that is why it is a game. You people should enjoy the eagles' wumbling and fumbling boo. All naa part of the game!

CBN Considers Intervention in 5 More Banks
•To inject N200bn •BankPHB CEO refuses to resign
By Ayodele Aminu, 10.01.2009


extract
[THISDAY gathered that based on the advice of the CBN solicitors, due process was followed during the recent audit process as  the respective chief executive officers of the affected banks were allowed to go through reports arising from the audit and make adequate responses to them.

CBN may have decided to change gear in handling the situation in the affected fresh five banks.

Unlike the method it adopted on August 14 when it specifically removed the CEOs and executive directors of the five banks affected in the first batch of the audit, the apex bank may have decided to let the board of directors of the five banks found wanting in the latest audit to implement the tough decisions necessary to put the banks in order.

The newspaper had reported two weeks ago that four of the affected five banks’ boards had been mandated to carry out certain measures to be dictated by CBN in accordance with the Banks and Other Financial Institutions Act (BOFIA) and CBN Act.]

http://www.thisdayonline.com/nview.php?id=155913

which way for sanusi now, conflict of decision

i have a four year old kid whom i beleive is probably the most intelligent girl of her generation. i and the mother spank this girl but we don't destroy her confidence and personality. beleive me, there is a level of spanking that can destroy your child both emotionally and socially. i have seen cases where a child was killed in the name of spanking. i know of another case where a child was mamied for life all in the name of spanking. spanking is good for the development of the child but if it is missued, one cannot immagine the long term devastating effect on the personality of the child.

when i right click on the affected files, ópen with""does not come up. i have also tried changing the icon of the files without success. however i am able to open the task manager and it is only the administrator profile that has its files affected. when i open the other profile, the files are intact

how do i resolve this annoying issues with my files. my HP system runs on windows vista. window media player now opens with every file i try to open. media player just pop up whenever i try to open the files whilst most of the files do not eventually open. the icon of these files on my desktop has also been changed and that includes that of my anti virus. somebody should please help me out

dereformer, how much of their 20-20 naira u receive for this comment?

Nairalanders, what do you think of this[font=Lucida Sans Unicode]

CBN considers 3 sales options for 5 banks
By Omoh Gabriel, Business Editor
Monday, September 14, 2009

LAGOS — THE management of the Central Bank (CBN) is considering three options to recapitalise the country’s five troubled banks.

The banks are: Intercontinetal Bank; Oceanic Bank; Union Bank; Finbank and Afribank.

CBN Governor, Sanusi Lamido Sanusi, had said that the CBN will not sell the banks to foreign investors and that the N420 billion injected into the banks which he initially said, in his letter to the banks, was tier two capital was now long-term loan from the expanded discount window to the affected banks to be paid back over a long period of time

Option 1: Rights issue

However a CBN official who spoke with Vanguard said that “The Central Bank is considering three local options aimed at acquisitions of the five troubled banks following the seeming collapse of its offshore investment mission.

The three options which the apex bank is considering are: Rights Issue — in which the apex bank hopes to execute a rights issue, converting the tier two capital (the amount injected) to 80 per cent stake in the affected banks’ shareholding, leaving the other shareholders with 20 per cent.”

This will mean converting the N420 billion injected into the five banks into equity holding. But there is a division in the CBN ranks regarding this option because of its legal implication, moreover, CBN does not have the legal backing to execute a rights issue.

Government lawyers are said have advised the CBN against this option.

Insider sources say most of the more experienced Deputy Governors and Directors of the apex bank have also kicked against this option, pointing to the legal loopholes inherent in the current exercise which has attracted criticisms from some quarters.

“The argument here,” the CBN official said, “is that as a result of huge non-performing loans in the five banks, their capital has been eroded and so new investors hold greater share through fresh capital. But with the aggressive loan recovery, this may not stand the test of time as the positions of the banks have been highly enhanced.”

Option 2: Scheme of Arrangement

The CBN management is said to be considering the alternative of getting the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange NSE, to do a “Scheme of Arrangement”. The thinking in the CBN is that this option is the most viable now and if applied, it will involve a legal means of bringing shareholders of these banks to an extra-ordinary General Meeting to agree to a merger or acquisition arrangement.

According to the officials, only SEC and the NSE have the statutory power to initiate and enforce this option. It was learnt that the apex bank will, this week, commence discussion with other financial regulators on how to implement this arrangement.

Option 3: Acquisition

CBN insiders also told Vanguard that if the first two options fail, the apex bank would then go for the third option which is acquisition.

This involves nominating a bank in the country to acquire any of the five banks and then backing the action with statutory powers.

The implication of this new initiative is that for now, the ‘foreign investor’ route appears to have been jettisoned by the CBN.

It will be recalled that the CBN Governor, on August 14, said that “the huge provisioning requirements of the five banks have led to significant capital impairment. Consequently, all the banks are under-capitalised for their current levels of operations and are required to increase their provisions for loan losses, which impacted negatively on their capital.

“Indeed one is technically insolvent with a Capital Adequacy Ratio of (1.01%). Thus, a minimum capital injection of N204.94 billion will be required in the 5 banks to meet the minimum capital adequacy ratio of 10 per cent.

“The five banks were either perennial net-takers of funds in the inter-bank market or enjoyed liquidity support from the CBN for long periods of time, a clear evidence of liquidity.

In other words, these banks were unable to meet their maturing obligations as they fall due without resorting to the CBN or the inter-bank market. As a matter of fact, the outstanding balance on the EDW of the five banks amounted to N127.85 billion by end July 2009, representing 89.81% of the total industry exposure to the CBN on its discount window while their net guaranteed inter-bank takings stood at N253.30 billion as at August 02, 2009.

Their Liquidity Ratios ranged from 17.65% to 24% as at May 31, 2009. (Regulatory minimum is 25%).

“Consequently, the CBN is injecting a total of about N420 billion into these five banks with immediate effect in form of Tier 2 Capital to be repaid from proceeds of capitalization in the near future. This injection is sufficient to resolve and stabilize all the institutions and enable them continue normal business.

The injection of fresh capital by the CBN is a temporary measure as government does not intend to hold the shares for long and shall divest its holdings as soon as new investors recapitalise these banks”.

i have installed free version of adope flash player a number of times on my system but it just won't work with my download manger. after installation i won't see it on my program list but there it will be at the control panel begging to be uninstalled. each time i try to download a movie with my download manager, i keep having the message FLV VIDEO LINK NOT FOUND. i am not a computer person so i will appreciate any suggested simple solution. kindly help

the comments i have read so far shows that a lot of nairalanders either allows emotion to becloud thier sense of good judgment. for heaven sake it is only the court of law that can pronounce an individual guilty. this people have been accused and they responded that they are not guity. we have only heard the side of CBN and EFCC. these people have the right to fair hearing and the right to defend themselves. all such comments portraying them as looters and criminals is not necessary until the court say they are guilty. i for one have some problem with cecila ibru but what i have heard so far is hear say as far as i am concerned, let the EFCC and CBN bring out thier evidence and if the court say she and others are guity, let them face the full wrath of the law. but casgating them and dening them freedom so they can't defend themselves is wrong and the court so agree. let us be reasonable and fair in our sense of judgment

sanusi has plunged himself into this dilemma because he did the right thing in the completely wrong way. basic law of mathematics says positive against negative will give you a negative result. trust me, holistically i foresee more complication for both the CBN, EFCC and the Nigeria economy arising from the way the whole thing is been handled. Agenda or no agenda, i beleive the CBN governor took off an wholesome journey on a completely wrong foot. By the way, which sane investor will buy into an organisation where his continual ownership is not guarantee, just like it is not sure for the current owners of the five banks in question. this is just a food for thought.

it is not about been a man that makes him a baby, it is just been not knowing how to live an organised lifestyle. i'm saying this if it is particularly his habit