cap28: Sun of god how does the US benefit from nigeria converting 10% of its foreign reserves into yuan?
buzz and sun of god - i agree with you about america going beserk if nigeria converts half of its foreign reserves from USD to yuan -but i think that might be where nigeria is headed because the USD is depreciating steadily, other countries are also beginning to dump the dollar as well -do you guys think there might be a link between the boko haram bombings and nigeria's movement towards china?
here is an interesting analysis on nigeria's decision (from 3.00):
But I'm not sure how genuine Sanusi is and I question his true motives along with who he actually works for.
Selling oil to the Chinese in Yuan would be a bold move. But then its a question of what the Chinese do with the Yuan.
If they decide to also devalue their currency in order to boost exports then Nigeria losses out. If the currency continues to strengthen then its all good.
The currencies wars going on are like a game of chess. Any leader that 'check mates' the yanks is likely to meet their demise. Gaddafi and Saddam are classic examples.
Sanusi talks a good talk - but he did make a comment about how certain things have to be run by the ministry of finance and that's likely to be a sticking point.
Okonjo-iweala who heads up the ministry of finance is no doubt a 'world bank' stooge. And so I watch with interest.
I still reckon its better Nigeria reduces their holding in dollars and maybe spreads it out amongst several currencies including the Euro, Pound, Swiss Franc, and also use a portion of the money to invest in commodities such as precious metals.
GEJ is a complete puppet who takes no decision on his own.
Plus he has little influence over the central bank.
This seems like a move by Sanusi but its not necessary for the benefit of Nigerians.
The move benefits the US.
All Nigeria is doing is shifting dollars to the chinese who can use that money to further corner african resources.
African politicians prefer embezzling the dollar and not the Yuan.
The Yuan only has appeal in China - the dollars appeal is still worldwide despite its continuing devaluation.
If Sanusi were really acting in Nigerias interest he would have announced that he would invest half Nigeria's dollar holdings in Gold or possibly silver.
So with an extra 2.5 trillion in freshly printed dollars this is all Obama could come up with.
He's 10 times more clueless than GEJ.
If naija could just print money or borrow endlessly without any intention of paying back then we would have full employment.
Obama is a bigger joke than GEJ.
Let naija never reach the lows the US have reached - 17 Trillion plus in debt with massive employment and liabilities (medicare, pensions, unhealthy and unproductive fat-phuckers everywhere, etc)
FBI, CIA put sponsors on watch list •Plot to replace security chiefs thickens From ISMAIL OMIPIDAN (Kaduna) & MURPHY GANAGANA (Abuja) Sunday, September 04, 2011
•Aziza Photo: Sun News Publishing More Stories on This Section
There are strong indications that global intelligence agencies, especially in Britain and the United States of America, have placed some top Nigerian politicians and opinion leaders on a watch-list of terrorist sponsors, following the August 26 bomb blast at the United Nations House in Abuja, which claimed no fewer than 23 lives. This is coming amid apprehension within the nation’s armed forces, police and the intelligence community of impending sweeping changes that might torpedo some service chiefs from their plum positions.
Sunday Sun can, however, reveal that President Goodluck Jonathan may have resolved to retain the National Security Adviser (NSA), General Owoeye Azazi, and the Director-General of the State Security Services, Mr Ita Ekpenyong. Impeccable sources informed that the axe may as well be slammed on some top brass in the armed forces even as the Chief of Defence Staff, Air Chief Marshall Oluseyi Petirin, is due for retirement just as the Naval Chief, Vice Admiral Ola Sa’ad Ibrahim, has about a year in service.
While the Chief of Army Staff, Lt. General Ihejirika, has about two years before his statutory date of retirement, the Chief of Air Staff, Air Marshall Umar, who is a Course 20 officer, has more than three years in service. Feelers from the presidency, however, indicated that some of the service chiefs may not remain in office till their official terminal dates in service, more so as they are holding political appointments. The changes are expected to be made with the appointment of a new CDS.
Sunday Sun however learnt from other sources in Abuja and Kaduna that there are indeed moves to ensure Azazi and some of the security chiefs are replaced because of what one of them described as “obvious intelligence failure,” on the part of the security chiefs, including the office of the NSA. “When security chiefs start contradicting one another on security matters, it is a sign of a more deeply rooted problem. I am sure you are aware that the SSS is claiming that it sent intelligence report to the office of the NSA before the UN House bombing.
“But the NSA has come out even on the pages of newspaper to deny that any of such thing happened. This is a clear signal that there is a problem. And it is up to the President to exercise his powers, because except he acts fast, the thing may consume him too,” said the source. The development has heightened tension with the armed forces and the intelligence community, although President Jonathan is reportedly keeping plans in that direction close to his chest. Sunday Sun further gathered that the President is no longer losing sleep over the recent UN House bombing as the attack has led to the unmasking of some suspected sponsors of the increasing terrorist acts in Nigeria, particularly in the aftermath of the 2011 general election, and consequently drawn international sympathy rather than anger towards Jonathan.
The incident, according to dependable sources, has also led to the revelation of intelligence reports in possession of some foreign agencies to the Nigerian government on two meetings allegedly held offshore by some prominent opposition politicians and opinion leaders of northern extraction in the past one month. It was gathered that one of the recent meetings was held last month in Saudi Arabia while the second took place last week in London. Both meetings allegedly centred on how to intensify activities that would sustain the tempo of insecurity with a view to weakening and preventing Jonathan from taking monumental decisions with regards to the 2015 polls.
With international intelligence agencies presently keeping tabs on these moves and having followed the political dynamics that preceded the Jonathan presidency, including the post-election violence and subsequent Boko Haram insurgency, Britain, U.S. and the UN had reportedly been aware of the existence of a political wing of the fanatical Islamic sect, and, therefore, had no qualms in placing some prominent Nigerians on the watch-list of terrorist sponsors.
“There are two wars presently going on. The first is to weaken the President from taking monumental decisions on 2015. The second is to create the impression that only northern heads of the armed forces and the intelligence community can secure this country. “And in the course of ensuring that they succeed in their plans, they went as far as attacking the UN House in Abuja. That was where they got it wrong. Now, they have taken the problem off the shoulders of President Jonathan. It is now a global affair and the world is watching them,” said a top security source, who pleaded anonymity.
There are already speculations that a former NSA, General Aliyu Gusau, may return to the intelligence community where he hitherto held sway, even though there are feelers that Jonathan may not be favourably disposed to such move. In fact, the President is said to hold a strong view against the backdrop of unfolding events, that in the last 50 years the nation’s intelligence mechanism had not been citizen, community and country-based but driven by Very Important Person (VIP)/individualism, intimidation, and bravado.
This discovery, Sunday Sun learnt, may have informed Jonathan’s resolve to retain the NSA and the SSS boss among others, if he eventually decides to shake-up the armed forces and other security agencies, with a conviction that what is required is building up a new security infrastructure. Jonathan made this position known on Friday in Abuja while launching the new vehicle number plates and drivers license rolled out by the Federal Road Safety Commission (FRSC). He also made a veiled reference to the foreign intelligence reports on suspected sponsors of terrorist activities in the country and their placement on a watch-list.
“I have directed a review of our national security architecture to lay greater emphasis on intelligence and citizens’ participation in security surveillance. Let me use this occasion to reassure Nigerians and members of the international community that we now have strong leads as to those involved in this terror war on Nigeria and Nigerians. I have directed security operatives to go after them no matter where they may be hiding. “Also, I am using this opportunity to warn that those who choose to hide under our new freedoms to perpetuate evil against our people shall have no hiding place. This administration is fully determined and able to deal with all threats and agents of instability who continue to test the resolve of our nation and its democratic institutions and leadership.
“As President and Chief Security Officer of the nation, I will employ every means and instrument at my disposal to secure this nation against forces of evil, which seek to divide and sabotage our country. There shall be no sacred cows in our efforts to expose, contain and defeat this network of terror and its sponsors,” Jonathan said. Sunday Sun can also authoritatively reveal that encouraged by international solidarity over the recent bomb blast and the frenzied efforts at tracking the sponsors, the President decided against a nationwide broadcast on the UN House attack as earlier announced by the Inspector General of Police, Hafiz Ringim, and may have thus directed the SSS to issue a press statement on the arrests made so far and the extent of investigation.
“The fact is that they wanted to push the President to address the nation on the UN House bombing to create the impression that he is jittery and the country is on fire. How can he do that? When we had the Maitasine riots, the Boko Haram of the Yar’Adua administration and the uprising, were the sitting Presidents making national broadcasts? They just want to create panic and insecurity,” a source noted. A top security source, who confirmed the move to bring back Gusau, said: “It is true. But I don’t know who is reaching out to whom between an ex-NSA and the Presidency. However, since you don’t want to mention his name, I will also not mention his name. But I am aware that during the time of late Yar’Adua, this same man you are talking about approached Yar’Adua to be appointed a security chief in charge of Home Affairs, the same way we have in the US, but the man turned him down. So he is good at that. He will be the one reaching out, but he will make it look as if, he is being reached out to.
“But he was around when Boko Haram started in 2003 or thereabout, what did he do? I mean this is a man who knows next to nothing about intelligence, but every time he is celebrated as a super intelligence officer. If Jonathan is serious, we have fine intelligence officers that are retired but can do the job for him intelligently and effectively.
“It will be premature to start linking this Boko Haram issue to either 2015 or an attempt by America to come in through the FBI. Don’t get me wrong, it may not be impossible. But I tell you, our security chiefs have proved incompetent and incapable in the face of this obvious security challenges. We just pray and hope that Jonathan will realize earlier enough that there is a great deal of difference between holding power and exercising it. For now, I believe the President is not exercising power, he is only holding power,” the source added.
, Panic over likely release of Okah by South Africa
A cold war is brewing between Nigeria and South Africa over the fate of the embattled Libyan leader, Muammar Gaddafi.
While Nigeria is backing the rebel-controlled Transitional National Council (TNC) in Libya, President Jacob Zuma of South Africa is supporting Gaddafi.
But the Federal Government has been trying to manage the situation to avoid it degenerating into a major crisis.
There was however concern and panic over the likely release of Henry Okah, who is standing trial as a mastermind of the October 1, 2010 bomb blast in Abuja.
Investigation by our correspondent revealed that the administration of President Goodluck Jonathan has maintained a parallel position with President Zuma over Gaddafi’s fate.
But while Nigeria’s position on the TNC is being supported by 34 African countries, only Uganda and Zimbabwe have teamed up with South Africa to align with Gaddafi.
Although South Africa initially headed an Ad hoc Committee on Libyan crisis, the panel could not achieve much.
It was learnt that a meeting held last week in Addis Ababa also broke the AU into two camps but with Zuma being humiliated because of a large following Nigeria attracted against Gaddafi.
A top government official, who spoke in confidence, said: “Nigeria has a sharp disagreement with South Africa on how to address the Libyan crisis but we would not allow it to degenerate as to affect the cordial ties between the two countries.
“South Africa and two others are claiming that the AU’s Constitutive Act does not allow the Union to recognize the TNC because it is an illegal force. They are saying that any government in Africa can only be removed through constitutional process.
“Nigeria and other African countries are maintaining that Constitutive Principle is the last listed in Section 14 of the Constitutive Act and the Act cannot be implemented in isolation of other principles like democracy, good governance, respect for human rights and social justice among others.
“Nigeria and others have said that Libya under Gaddafi has never being ruled under any known constitution since he took over in 1969. The last constitution Libya had was under King Idris, who was deposed by Gaddafi.
“So, we are also arguing that the Constitutive Act cannot apply to Gaddafi who had never run a constitutional government.
“Apart from that, the Constitutive Act did not take into account popular revolt as being witnessed in Egypt, Tunisia and Libya when it was drafted. It only applied to military regimes.
It was also gathered that Nigeria challenged South Africa why it accepted the revolts in Tunisia and Egypt and decided to raise eyebrow on Gaddafi.
Another top source added: “We are suspecting that Zuma has his own agenda because Gaddafi supported him to replace ex-President Thabo Mbeki. It is payback time.
“It was the same thing Zuma did in Cote D’Ivoire when a committee he headed merely recommended a recount of votes instead of outright validation of Alassane Quattara’s mandate.
“I think this rivalry between Nigeria and South Africa also has to do with a jostle for seat in the UN Security Council. Both countries are after the slot.
“So, those who are against the TNC within the AU are in two groups. They are those benefitting from Gaddafi’s largesse directly or who are his friends and countries being governed by autocrats.”
As at press time, there were fears that the cold war between Nigeria and South Africa may affect the ongoing trial of an ex-militant leader, Henry Okah, who is standing trial over the October 1, 2010 bomb explosion in Abuja.
A reliable source said: “South Africa may end up mismanaging Okah’s case in order to slight Nigeria for not having its way on Gaddafi.
“Okah may either be released or his case poorly prosecuted to enable him to regain his freedom. The frosty relationship between the two countries is pointing towards this direction.
“Even from hiding, Gaddafi is instigating South Africa against Nigeria but there is no cause for alarm. If Okah is released through a circumvented process, Zuma will be the loser at the end of the day.
“Zuma is angry with Nigeria over Gaddafi but the Federal Government is insisting on its recognition for the rebels. With the backing of Nigeria by 34 countries in Africa, its position is vindicated.
“That is why Nigeria is also monitoring the situation and at the alert on what South Africa is up to.”
But a security chief said: “The Rule of Law in South Africa is very strict; it is not what a President can violate with impunity.
“Henry Okah is on trial in South Africa for terrorism, Zuma (no matter how powerful) cannot interfere with the process.
“We do not envisage the release of Okah by South Africa as a retaliatory step. But we are also watching development closely.”
djustice: I pray Tinubu recovers very well from this emergency "critical illness", so that he can come and reap what he has sown.
Shebi he put the thieving Fashola in office, to help him protect his "investments" in LASUTH, Lekki-Epe Expressway, Lagos State Treasury, LIRS, Lakowe Lakes, LCC, Deux Projects, Oriental Hotel, ARM, Four Points Sheraton, Eko Hotel, Eko Akete, Hitech, Skye Bank (yes, he owns at least 35%), amongst several other things.
I have prayed, as others are praying for him on this thread, that anyone who steals, "legally" or illegally from the people of Lagos State will live to enjoy a million times the kind of suffering they are putting the people of Lagos through. To enable Tinubu seek medical attention abroad, thousands of children in Lagos had to die for lack of medical care, which could have been paid for with his ticket, (if he travelled on a commercial airline, 1st class of course). Hundreds of Lagosians will die this month from accidents caused either by bad roads or lack of street lights or both, combined with bad medical facilities in the state, just because Tinubu has been stealing the state blind for his own comfort, with the active collusion and protection of Fashola.
As if that was not bad enough, Fashola too has been stealing his own, through companies like Plycon Construction, which he owns and has recently done a terrible job on Adelabu street and other areas where they have executed contracts awarded by Fashola himself. The Lagos GIS project was set up for his company, the one doing the Naija Tracker, or something similar. Even the solar street (read Torch) lights contract was just as way for him to siphon money from the state. Look at the rubbish he bought. Go to Lekki and see how solar street lights are supposed to work on some of the private estates there.
Lagosians are trying their best, they're just being let down by ACN propagandists in government, who think it is their job to deceive the people while pretending to help them.
May their generations yet unborn partake in the suffering they will reap as a result of their callousness. May all who help, aid and abet them in ANY way also partake in the desolation that will surely be their portion in the Mighty Name of Jesus. All who steal from Lagos shall surely perish despite their ill-gotten riches. The people's commonwealth shall be returned to them, and God himself will raise a righteous leader from the most unlikely place to assuage the sufferings of Lagosians. As the children of Lagos weep and their parents cry to God, so shall those who make them suffer weep and gnash their teeth, even on this earth and sooner than they think.
One thing is for sure, no one can live forever. I however pray that those stealing from Lagosians and those benefiting from them will live long enough to suffer properly and deeply for their sins, even as those they've stolen from see with their own eyes the wages of sin.
Black unemployment at highest level in 27-years September 02, 2011
The August jobs report was dismal for plenty of reasons, but perhaps most striking was the picture it painted of racial inequality in the job market.
Black unemployment surged to 16.7 percent in August, its highest level since 1984, while the unemployment rate for whites fell slightly to 8 percent, the Labor Department reported.
"This month's numbers continue to bear out that longstanding pattern that minorities have a much more challenging time getting jobs," said Bill Rodgers, chief economist with the Heldrich Center for Workforce Development at Rutgers University.
Black unemployment has been roughly double that of whites since the government started tracking the figures in 1972.
About 155,000 blacks got jobs in August, but the group's unemployment rate still went up because those jobs weren't enough to make up for all the people who started looking for work during the month.
However, the gain for whites of 211,000 jobs was enough to bring their unemployment rate down.
Overall, black men have it the worst, with joblessness at a staggeringly high 19.1 percent, compared to 14.5 percent for black women.
Latinos saw their unemployment rate remain unchanged at 11.3 percent in August. Unemployment remains at 9.1 percent for the country as a whole.
Former Governor of Lagos,Asiwaju Bola Ahmed Tinubu is said to be battling ill health at present.
The nature of the ailment is being kept heavily guarded- his very close confidants are attributing it to stress induced to those curious enough to enquire.
Investigations revealed that the situation is being quietly and efficiently managed.
Futher findings revealed that the former governor has been battling this phenomenon on and off for a while.
His strong supporters tagged the development a conspiracy between the fasting he undertook and the stress of overseeing his political and business Empires.
Asiwaju is said to be out of the country as at Wednesday, August 31 2011.
He is believed to have gone for quick medication in the midst of visits to Saudi Arabia and Dubai.
buzugee: i dont quite think its barracks fault. ok maybe it is his fault for allowing himself to be a puppet but either way whomever took on the job was always going to be a puppet of the corporatocracy. personally i think they needed a black more palatable face to shoe-horn in africom in africa as it looks like the fading powers of the west see africa as their hope of survival. lets loot the black bastards but present a black friendly face when robbing them blind.
They need to start listening to what 'Farakhan' has to say.
He's been warning them (Blacks in america) for decades.
teskyg: @Sun of god u are a bigger mumu for calling your president a mumu.It is clear that you lack proper home training.Your Father is a bigger mumu for not been able to bring you up properly,
At least I have a father - you b.astard + son of a B.itch.
[quote author=okada_man link=topic=749823.msg9058769#msg9058769 date=1314910660]My Oga nor like shoes at all o
WAZOBIA go kill pesin
Jokes apart though, Many Nigerians don't wear shoes around the house, especially on rugs/carpet. Jonathan is just keeping it real I like it. it's just natural.
We ignore shoes on rugs more because most of our roads are not tarred, we rarely do landscaping or keep grasses around the house, hence the presence of dust, mud and sand close to home making out shoes very dirty.
Abeg make una free my Jonathan on this one, he did nothing but act like a regular Nigerian. We like him like that.[/quote]But why he no wear slipper? Or some socks? (You may know this as 'stockings')
His 'Crib' must be landscaped - make no excusses for his 'localness'.
A group of concerned Nigerians have launched an emergency appeal to raise money to buy shoes for their President, Goodluck Ebele Jonathan.
The appeal was made immediately after photos in which the president appeared barefooted were published on the internet.
According to the young man leading the appeal effort:
“When people saw the pictures of Mikel Obi visiting the president to thank him that government rescued his father from kidnappers, they started saying things like ‘why cant government rescue other people that are not famous? Is it the president or the police that he should be thanking? Why is GEJ even accepting this kind of visit and smiling like mumu when Boko Haram are still bombing everywhere, cholera is killing people like flies and flood is washing Nigerians away along with their property and even family?’
“But for me, all that is nonsense. What should concern any good citizen is that our president, who said he had no shoes when he was growing up, still doesn’t have shoes!
“I mean, just look at that picture. You can see that he’s not wearing shoes. A whole president, exposing his bare feet like that for the whole world to see. It is not presidential.”
Concerned citizens are being implored to send money or shoes to the president -UK size 8.