₦airaland Forum

Thelmerh:
Do u tink everybody is a womanizer like u

Huh? Have we met?

I suspect tribalism.

socialmediaman:
I think the above highlighted is where she gets most of her blame from. Most people believe the government has not managed her resources well, the government has continued over 4 years now to run a recurrent expenditure based budget with less than 50% implementation on the average. Organizations like the NPA and Customs fall under her jurisdiction but these organizations have been tainted with high level corruption.

It is not Ngozi’s duty to implement the budgets of the various MDAs. Once the budget has been passed, it is up to the MDAs to implement their budgets. They don’t need Ngozi to give them the go ahead. Also, I believe (from what I’ve read) that Ngozi tried her best to reduce inefficiency and corruption in the customs service.
On recurrent expenditure, it is not Ngozi’s fault that the federal government has a large workforce. The truth is that the recurrent expenditure of the FG will always be above 70 percent of the total budget. Some key ministries like education and defense don’t typically budget for capital projects.

With crude oil above $100 a barrel, almost double the budgeted cap, Nigerians expect to have savings and more foreign reserve. Against the advise of previous government and experts, she shared the excess crude account with the states until 2013 when they last got money from that source, with the revenue which should go into that account unaccounted as at 2015

We already had reserves of over 30 billion dollars, there was no need to infuse more dollars into reserves when we are in dire need of infrastructural development. On how the excess crude revenues were shared, please read the link below.
http://allafrica.com/stories/201501081299.html

The management of the NNPC revenue has also been in question under her watch, the NNPC was running a blank check and made much excesses including making direct deductions in excess of $20 billion before making payments into the federation account, she appeared to be negligent instead of confrontational in that regard.

The NNPC does not function under the ministry of finance and they NNPC were only acting according to the laws that made them. Lastly, she was never negligent or acted in that manner while the saga lasted.

The summary of this is that the government under her watch was wasteful with revenue which led to further depletion of the external reserves and increase of Nigeria's debt profile

If the MDAs and state governments waste the funds given to execute their administrative duties, how is that the fault of Okonjo Iweala?

She was managing the nations treasury, but it was rather the ex-CBN boss who recommend to the FG at some point to prune its workforce down in order to save money for capital projects, but nothing "meaningful" was done in that regard.

This is a silly advice from a central bank governor.

I am not saying she is to completely blame on this, do not forget we have a president who is the commander in chief, and whose lackluster leadership could impede the efforts of his subordinates

Conclusion
If an economy fails or gets mismanaged, the finance minister takes most of the blame as much the president because she was the financial adviser and manager of the government. Much similar to when a sports team fails in many outings, blame goes to coach and managers

The central bank is also a financial adviser and banker to the federal government, why can't you blame them for not performing their duties properly?

I thought he said the car used solar power only?

Nice ass
www.nairaland.com/attachments/2429482_image2_jpeg41d9c75ae301b0aa848caaa5e5ba2703

WombRaiders:
Sanusi did so much damage as CBN governor.

This useless goat used public funds to sponsor Boko Haram, the APC and constituted himself as an executive donating hundreds of billions to the north towards securing his much wanted emirship.

But by far the worst he did was to invest huge chunk of our money in a crude medieval banking system.

Fools will never know the truth if it smacked them right in their fore-heads

Inflation under Sanusi averaged double digits. That man failed at his core task as a central banker. I'm embarrassed that he has the guts to talk about economic mismanagement.

Do you have a thing for light skinned older males?

Ngozi may go down in history as the most famous Minister of finance Nigeria has ever had. I doubt if previous ministers of finance were scrutinized and castigated as much she was.

But let me ask please – What crimes did Ngozi commit that she is so much vilified and abused by Nigerians? Why do Nigerians blame all their economic problems on Ngozi? Is it because she was conferred with the ceremonial title of “coordinating minister of the economy”?

I have found out that many people who accuse Ngozi of destroying the Nigerian economy are blatantly ignorant of how the Nigerian economy is setup and the duties of the minister of finance.

For starters, there are two ways of controlling an economy – Fiscal Policy and Monetary Policy.
Fiscal policy is the use of government revenues and expenditure to stimulate economic growth while monetary policy is basically the use of money supply (e.g. interest rates) to stimulate economic productivity.
Fiscal policy in Nigeria is maintained and managed by the Ministry of Finance while monetary policy is managed by the central bank of Nigeria.
I find it highly hypocritical that nobody ever accuses the CBN of not doing enough to stimulate economic growth and employment. Incidentally, majority of Nigerians are ignorant of the duties and functions of the CBN.
It is the duty of the Central bank to control and manage
- interest rates;
- inflation;
- foreign exchange reserves;
- the national credit system;
- exchange rates
In Nigeria however, we often accuse Ngozi of depleting our foreign reserves, we accuse her of the high exchange rates; we accuse her of unemployment; we accuse her of inflation; we accuse her of everything wrong with the economy. These aren't her duties.

Ngozi does not control exchange rates, the CBN does
Ngozi does not manage or control our foreign reserves, the CBN does
Ngozi does not control inflation, the CBN does
Ngozi’s job is to manage the revenues and expenditures of the federal government; how your state governors spend their allocation and revenues is not her concern.
She has carried out her duties to the best of her ability and I can’t think of any previous minister of finance that did a better job than Okonjo Iweala.

Nigerians should learn to apportion blames to whom they are due

Blame the CBN for inflation
Blame the CBN for high rates interest
Blame the CBN for not managing the foreign reserves properly
Don’t blame Okonjo Iweala


Thank you.

Ugly woman, ugly children, ugly mind.

Lies

Amnesty should be used as a bait to grip those terrorist and kill them all.

These labor unions are sabotagging the Nigerian economy with their worthless strikes. Aren't there other viable channels to air your grievances? Why must you hold the economy to ransom because of selfish interests?

Nigeria is on the brink of a socioeconomic collapse. I doubt if Buhari at his frail age can withstand the pressure these greedy bastartds will place on him.
With the decline in oil revenues -
1. States can't pay salaries
2. Government can't pay petroleum marketers

- Petroleum workers are striking (no fuel)
- Energy workers are striking (no light)
- State government workers are striking (no jobs)
- Government is owing ASUU 1 trillion naira (ASUU strike is imminent)
- Doctors will embark on their own strike soon

Hopefully, GEJ's tenure ends in 9 days. Buhari should handle the mess but he should be careful, at his age, he needs rest and peace of mind. He should learn from Umaru.

This man and his boys disturbed us in Borikiri back in 2003.

He was trekking with plumpy ladies beside, I doubt he missed his wife much.

[quote author=ishiamu post=34005380][/quote]What a username "ishiamu"

Eni Njoku UNN. Enugu Ezike people too dey threaten others because of their black magic skills. They should calm down abeg

Meanwhile, Amaechi is fighting in court.

Yoruba people should be proud of this man.

All I can see is anguish, sorrow and tears. Joe, why are you so pained?

My vote goes to Twaci cc:NLjega

1.

“We expect banks to have more funds available for lending to
drive interest income growth, as about N500 billion will be
freed in terms of banks reserves with the CBN, by our
estimates. Thus, we could see bank stocks rally over the next
couple of days,”

2.

The cumulative cost-to-income ratio which shows the
efficiency of a firm in minimising costs while increasing
profits, also reduced to 54.18 percent, from 58 percent in
2014. The lower the cost-to-income ratio, the more efficient
the firm is running.

Low cost-to-income ratios because they pay slave wages and treat staff like crap 3.

“A hike in interest rates would be positive for banks,”

This is funny - a hike in interest rates would be positive for banks? Who will the banks lend the money if the interest rates are too high?

Delusions. Its not even about the power but the city.

I like Atiku although he's perceived to be highly corrupt. He sounds like a man with bright ideas.

Kulikuli himself. I love this man to bits!

Boss13:
What are you saying? Do you invest in Government bonds or Treasury Bills? What is the relationship between the profits Banks make to Government debt profile? Do you know that most of the debt collected were expended on consumption and amid falling oil prices and poor supply chain, how would the government service these rising debt profiles. FYI, this is just domestic debt, how about foreign debt, have you taking that into consideration to know how pretty bad the Jonathan administration has gotten us into.

This is a bad situation for us. It is so bad that even with debt restructuring you still have to pay. Individuals will not want to be told that the government would not honour its bond or treasury bills obligations. Local banks will be more interested in receiving both interest and principal, even if the interest is reduced.

If buying government bonds and treasury bills isn't an investment, then what is it? Our foreign debt is the main issue and I think the foreign debt when compared to our GDP is normal. The situation looks bad but from a certain perspective, it doesn't look like what people make out of it.

I don't think there's anything wrong with our domestic debt profile. When government borrows from local banks and other local financial institutions, these institutions are making an investment. Government also has better and more options of debt service and debt repayment. Therefore, money never leaves the economy. The only problem is that these financial institutions don't reinvest these profits they realise from borrowing to the government by failing to lend to real sector.

Nigerian banks be ripping Nigeria off.