₦airaland Forum

Okoro2015:
From all indications, this fellow refuses to subject himself to any form of superior reasoning. The problem has never been the spirit of Islamic banking but the Nomenclature. Christian teaching strongly recommends non interest loans. Anyway, When his boss - Ne Ngozi comes back mid August, We shall know which tune we will dance to. Sanusi has already reached his false peak. His actions recently only puts him in fast lane of decline.

Christianity does NOT strongly preach non interest loans, sorry.

If the 'nomenclature' has been a problem, why is it in use in the US, the UK and many more western nations?

I cannot believe the cheek of some of you people, claiming to not be intolerant yet seeking to block the name of another official Nigerian religion

Greenpro:
Sanusi is pretending as if he didn't no the nature and impact of religion in Nigeria. While not going for a secular name that will not reflect or connect to any faith. In other western countries, it was called differently not Islamic. He needs to do this now, if not, those coming behind him will reverse his achievement.

Perhaps we should also go to schools and change subject names from Islamic Studies to 'Non-christian studies'

It amazes me how you people can call Nigeria a 'secular state' in one breath, then in the other actively try to curtail the use of the word 'Islamic' to describe anything. The same people that are complaining of intolerance and bigotry are the ones trying hard to project intolerance by demanding that the term 'Islamic banking' using in lots of countries around the world must be expunged when it comes to Nigeria.

Perhaps muslims clerics should also demand change in names for Covenant and Madonna Universities to 'avoid discrimination and tension'.

[quote author=ekt_bear link=topic=718336.msg8764898#msg8764898 date=1311299150]Healthcare workers, striking for 5 months? How many would have died or not received proper treatment as a result of this?

Nigerian unions take things too far[/quote]And Nigerian masses are far too docile.
If 5 months is 'too much', why are the people of Anambra not taking their Government to task for this? What have YOU done in similar situations?

As we speak, the FG has failed to implement much of their last agreement with ASUU which they signed themselves. If ASUU goes on strike now half of Nairaland will be calling them 'useless' and 'foolish'. Yet no Nigerian will ever come out now to excoriate the Government for failing to live up to their words.

At the end of the day, the common man will suffer for this attitude.

KnowAll:
[size=16pt]The bottom line is he has shelved the N20 Million security votes for something he perceive to be worthwhile if pursed and monitored with vigour. Let us assume each of these special assistants, special adviser and committee chairmen/members are getting N100.000.00 ANNUALY obviously some would be getting more and some less, let us use 100,000.00 as a bench mark.

If he employs 100 of them it would cost the state N3.2 million Naira a year a paltry some when you look at the alternative which in many and in any case includes outright pocketing of the entire  fund by some unscrupulous Governors.

As far as Naija is concerned, the  security vote of N20 million is the Governors slush fund to spend as he/she deem fits,  the Governor is entitled to it by virtue of being the Chief Security Officer of the State, wiser Governors like Fashola use that money smartly and commendably by employing a lot of expert-ease, LIKE Nigerians from diaspora for different task.

After 12 months each SA would give an account of their stewardship, what incentives, innovations have they have brought on board and what  impact has such activity done to the economy of the state at large and governance in particular, how has it reflected on that holy grail of positive Governance and financial fiduciary ' internal generated revenue' has the internal generated revenue for the state hit the stratosphere, or has it remained dormant.

These are some of the measures that should be put in place so that the recipient of the states generosity would know that there are no free lunches.

[/size]

I stopped reading when your figures stopped making any sense. Something's wrong with your math, my friend.

I mean, annual salary of N100k as a benchmark? My gateman earns that in 4 months.

onyeokwuak:
Lagos affairs is a very important office. Imo indegenes are in their great numbers in Lagos and I think this office will link them to the govnt house so that they will have a say in the affairs of their state.

If they don't add any value to the state in form of taxes paid, why do they need to 'have a say' in the state affairs?

mechris:
Divide and rule, oh sorry, divide and win strategy.Gej on the move, implements his first policy.

May God deliver you from the spirit of sycophancy, grovelling and butt-licking. What the frack has GEJ to do with this?

The cynic in me says this is a ploy by some crafty elements to collect Amnesty money. The people claiming to be pursuing a peaceful movement have forgotten the violence they brought about that led to the death of their founder along with hundreds of others. They've apparently forgotten their threats of retaliation. They apparently had no tongue when Boko Haram went on a bombing spree weeks ago.

I'm not really buying this.

No be this same presido offer Boko Haram amnesty? Ask him where the money would have come from.

So let me get this straight: You say 'Pure water' is not 'hygienic' because often times it comes from tap water. So why is our tap water not fit for drinking?

[quote author=Natasha,, link=topic=657308.msg8753729#msg8753729 date=1311171183]we have been surviving without it, until its arrival, its funny how some people think pure water has been there right from time [/quote]We had water put into nylon bags and sold on the streets. Even worse than 'Pure water'. I guess you're a youngster if you didnt know this.


[quote author=Natasha,, link=topic=657308.msg8753729#msg8753729 date=1311171183]@ all those who keep saying pure water is the common man affordable drinking water like are you serious, now check this out, a jerry can of water cost #20 and a sachet water cost #10 so you see when its come to affordable I think a poor man will rather go for the jerry can that can serve him many purposes than a sachet of water which will only quench his taste for a while [/quote]Yes, because everyone will be carrying around empty jerrycans to buy water with. Or salesmen will carry around up to 10 Jerry cans on their head. Or unsealed Jerry cans are more hygienic than sealed 'Pure water'.
Any more bright ideas, Einstein?

kasiem:
One of the primary things required of a good government is creation of employment opportunities. Nigeria is overpopulated, so, u have to use any legal means available to get everyone employed. Industries alone cannot contain all the jobless fellows.

Do those people there on that list look like 'jobless fellows'?
When I head the news, I was pretty sure nobody over 20 years of age would defend this insane waste of state funds. Yet here we are, seeing people like you and Ezeuche defending this crap is utterly nauseating!

Aseye:
hey iphone users, pls i jst want to knw if there is a way to transfer apps from one iphone to another even if i dont ve the installation file, say for instance ve some apps on my own iphone and want to share it with a friend, plus pls, whts the bluetooth on an iphone used for, dont seem to get the use anyway?

If you're synced to a PC, you can easily grab the *.ipa files from your iTunes folders.
If you're one of those guys who goes to computer village and gets apps and music synced from a strange library to your iPhone (meaning you basically never sync), your best bet is probably to use a program like crackulous to 'crack' the installed apps into an ipa folder on the iPhone and copy 'em out.

I'm pretty sure there may be other cydia apps to allow app transfer though. Someone else may be able to help you better.

By default, the bluetooth can be used for streaming audio, pairing with handsfree kits etc. You'll have to grab cydia apps like Celeste et al to enable bluetooth file transfer

0lumide:
I agree with Sanusi but the reason for his conclusion is utterly wrong, Law, whether criminal law or whatever, doesn't evolve to make prosecution easier; Law evolve to make law better not to make it easy for anyone to go to jail!!!!

This man shouldn't be talking law at all, !!!! He knows nothing about it. Because some banks couldn't recover debt, law is outdated?? Sanusi!! lol you are a retardeen!!!

Did you bother to read the article at all? He's complaining about laws on criminal prosecution only.
Law should evolve to enable justice to be carried out swiftly and efficiently. He has been involved in several criminal prosecutions recently that have dragged on interminably due to loophole exploitation. How many cases have YOU been involved in? What's your own involvement in legal matters?

I wonder what the Nairaland reaction would be if Sanusi remarks that air contains about 70% nitrogen. People would still find a way to crucify the fellow

noblezone:
Nigeria is neither a Christian nor an Islamic republic. So the CBN should have general guidelines for NIB and the perculiar giudlines for Islamic Banking can be stated under a sub. If Nigeria is an Islamic republic (and who knows what the true agenda is: Boko Haram is enforcing it), then the CBN can explicitely make islamic banking her focus.

You have stated that Islamic banking is actually to meet the needs of the unbanked moslems adn I am saying that it is not the duty of the CBN. CBN should simply open the floor for NIB and Islamic Banks can come up.

There must be explicit guidelines for Islamic banking because it has specialized requirements. I doubt any of the existing banks in Nigeria see the benefits of pursuing any forms of NIB that is not Islamic Banking. That is the only model currently capable of adding value for them. Naturally, energies must be channeled to this model.

Here's an analogy. You think the same export guidelines and rules are used when exporting items to Canada and North Korea? Are both not 'export'?

noblezone:
You questions (1 and 2) simply shows that you are out of context with me. Yet let me answer you.
1. I am interested in NIB, but Islamic Banks will not attend to me because I am not Sharia compliant. It will affect me.
2. If Stanbic IBTC follows the guidelines, then I am afraid they'll not attend to me becuase I am not Sharia complaint.

Sanusi/CBN should give us NIB, under the NIB while Islamic banking can take care of the moslems, the other NIB models can take care of me and other non moslems. A situation where I will be descrimnated on bases of religion is nothing but a betrayal.

Islamic banking is Shariah compliant with respect to rejection of interest charging and usury, as well an abhorrence of gambling and a few other vices as an investment area. The customers themselves do not have to be Shariah compliant. I have no idea where this wicked falsehood comes from. See reports below of ordinary Christian britons increasingly patronizing Islamic banking


http://www.thisismoney.co.uk/money/saving/article-1601140/I-chose-an-Islamic-bank.html
http://news.bbc.co.uk/1/hi/business/6168800.stm

This is why the CAN people need to embrace dialogue instead of spreading the FUD that you need to convert to Islam and subject yourself to Sharia justice before taking advantage of Islamic finance.

BP:
Texazzpete, Let me try and respond the points you raised in your post.

Oritsejafor is President of CAN and by extension spokesman of Christians in Nigeria(whether he is doing this well is another issue). Sanusi however is not the spokesman of muslims in Nigeria. He's Nigeria's chief banking regulator and so he should speak in that capacity.

I see nothing wrong in Islamic Banking (either the concept or the name). I believe Nigerian Muslims have a right to bank in accordance with their conscience and religion so long as it does not infringe on rights of other citizens.

Excellent! So you now agree that CAN is being the drama queen here? You agree that the likes of Oritsejafor are the source of most of the paranoia sweeping the people of the South?

BP:
However, it is a fact that Nigeria is polarized. This knowledge is not new. I expect a skilful manager to make and communicate decisions taking into considerations the peculiarities of his operating environment. It's either Sanusi did not foresee the kind of heat this would generate or he did but decided it didn't matter. Either way, it show poor managerial skills.

I don't think it's poor managerial skills. Everyone can make a mistake. Sanusi's mistake is his naivety in failing to recognise the depths of bigotry, intolerance and lack of reason in leading elements of the CAN leadership as well as the re-invigoration of his foes in the corrupt banking old guard.
He isn't perfect and perhaps has a fondness for too much blunt speak, but this does not deserve the hate-fest he's facing at the moment.

BP:
You can imagine the kind of crisis you'd face as CEO, if the best response you can come up with when Union opposes a decision you took is "you have a right to go to court". Do they have a right to go to court? Yes. Is that the kind of attitude that will resolve the issue? No.

Ok, now that Sanusi has requested that CAN leadership meet with him to dialogue on the issue, where are they? Where's their response?

BP:
Knowing that Nigeria is very polarized, is it possible for Sanusi to have given sonmeone else in CBN the role of "the face and voice of Islamic banking"?

This 'polarization' will always arise as long as the so-called 'face and voice' is a Muslim.
Sanusi is the CBN Governor and as such he is the person being paid and being tasked with taking the lead role in charting the future of banking in Nigeria. Sanusi is being painted as an 'extremist' by many Christians because of his degree in Islamic studies. What other muslim would be acceptable to the baying mob? Perhaps one who has not committed the unpardonable sin of being a devout muslim?
Or are you suggesting some form of ethnic bias, where the job is given to a Christian to 'oversee' the launch of Islamic banking?

BP:
Clearly, Sanusi is more interested in taking glory for being the Muslim who was able to bring Islamic banking to reality in Nigeria than in seeing the idea come to reality itself.

This is not 'clear' at all. He's already the man who has received international awards/recognition for his decisive intervention in the banking industry. He's dealt with the likes of Akingbola, Ibru etc. He's the man who stood up to the corrupt Senate, earning him the 'man of the year' vote in several national daily polls. Where's the need for further glory seeking?

What we have now is people telling adherents of possibly Nigeria's largest religious group that the use of the word 'Islamic' must be minimized so as not to offend their sensibilities. That is the truly divisive issue.

noblezone:
I am a bit confused here texazzpete. is it my inability to express my self in English or your inability to understand simple and plain English.

Let me repeat, that I don't have anything agaisnt Islamic Banking. Islamic Banking is not even the subject of my initial post.
The subject of my initial post is that Sanusi ought to promote Non Interest Banking not Islamic Banking outrightly. And Islamic banking can conveniently come under it.
CBN is an umpire and should be seen as unbiased. Soludo's model was NIB and for Sanusi to come and promote Islamic Banking in place of NIB is both unprofessional and unethical.

Like I said, I dont' know how you will feel if the Chairman of the NCC will start promoting MTN and not GSM. As an umpire, they are to promote GSM and MTN can come up, and in this case, CBN should promote NIB and Islamic banking can come up.

Follow me, do you know that a Sharia Counsel will be inaugurated by the CBN? Will Non Moslems be members of that council? Whatever we do, we must realise that Nigeria has this peculiar problem of ethinic/religious divide which to some extent is sandwished in the Nothern/Southern divide. Even the last election had these undertones.

Sanusi as a professional has goofed.  Whether you like it or not, he has consciously or unconsciously introduced religion at the CBN. It is a shame.

you are asking me, What non-interest banking model is likely to have a short term benefit to the relatively large population of Nigerian muslims?, and my answer is this, it is Islamic banking. Yet, all Sanusi (as the Governor of the CBN: or is it CBIA => Central Bank of Islamic Affairs) should have done was to promote NIB and Islamic Banking can come up top take care of the moslems. His passion to take care of the moslems is well understood but using his postion as the CBN governor to do that is an abuse of office.
He can impose Islamic banking instead of NIB but he must know that careless acts such as this do only widen the gap between "one" Nigeria. Nigeria is already on the brink and zealots like Sanusi are pushing her further.

I wish you well.

There are explicit guidelines and regulations governing Islamic Banking. This cannot be covered under generic guidelines for the generic 'non-interest banking' term. As Islamic banking is the most prominent model of non-interest banking as well as the most applicable to Nigeria's teeming population of 'unbanked' muslims, explicit guidelines and regulations MUST be provided. This is not about Islamic Banking coming on top of NIB.

You speak with passion but with little hard evidence. There isn't much in Sanusi's past to reinforce the oft-repeated accusation of ethnic or religious agendas. You need to prove this first, what is your proof? You say his main aim to to put forward muslim dominance, where does your conviction stem from? We all know Sanusi has taken a moderate stance on Islamic matters many times in the past.

Your 'MTN' analogy is deeply flawed. Sanusi's main efforts as the CBN Governor has been to bring about extensive reforms in the existing conventional banks. Were it not for the strident and unreasonable opposition to his new drive to implement Islamic banking from the likes of CAN, this whole thing would have gone down without drama.

Once again, I ask you a few pertinent questions.

1. How does it impact YOUR life negatively if Islamic Banking kicks off as expected?
2. Would you say that Stanbic IBTC bank has been 'Islamized' now that they've acquired an Islamic banking license?

The NLC people are stoopid. How can you call off a strike at 1am?

MyTake:
HSBC is an abbreviation for [b]H[/b]ongKong and [b]S[/b]hanghai [b]B[/b]anking [b]C[/b]orporation!. Maybe you wanna educate me where that is please??

http://en.wikipedia.org/wiki/Hsbc

Please read and educate yourself. Consider it a freebie from me.

Saying HSBC is a 'chinese bank' is like saying the East India Trade Company was an 'indian company'.

manny4life:
What is it? American? or African? Where is Shanghai located? I guess in West Africa. I'm afraid bu why do people argue because they like to argue?
Thank you for correcting him; he can better educate other non-bankers on here what HSBC stands for

You would do well to improve your knowledge of history. I have no intention of getting into another distracting argument here. Read the Wikipedia article i linked to, thank me and move on.

Seun:
Please stop now to avoid a time-out. Please, sirs.

Yeah, i guess we took things too far. I apologize for derailing this topic.

[quote author=Negro_Ntns link=topic=716535.msg8748647#msg8748647 date=1311103308]I wonder if the proposal will get this much pushback if it was introduced by a white christian in tie and suit?

What people ought to fear and question are mega pastors who in the name of Jesus are taking from you but not giving back.

Islamic banking gives back what you give + more based on your equity in the sharing.[/quote]It's bigotry at work. When photos of their president kneeling before a popular man of God were splashed on all the covers of the National dailies, these people no remember say 'Nigeria is a secular state'.
If you publish a photo of Sanusi in prayer in the mosque kneeling towards Mecca, they will call him a Boko Haram member.

We're fast becoming a failed state.

BP:
Texazzpete, please see my comments below as honest feedback from someone who respects your intelligence.

I respect your ability to take contrarian views a great deal. However, I often see a lot of aggression, written violence and sometimes outright insults in your posts. You do not have to be this aggressive to make your fine points known.

Even if others are insulting, you shouldn't join them.

Also, I notice that you make very definitive and final statements without considering the fact that you could actually be wrong.

I think i'm often driven to harsh replies by the sheer folly of things I see on nairaland. You may catch me making mistakes, I may be wrong or something like that but i pretty much pride myself on reasonably logical replies reflecting my educational background and all the learning experiences a man my age should have. I have little tolerance for brainless posts.
My brother, when you see people on Nairaland say that an American weapon fired at the ionosphere is capable of moving Tectonic plates under Haiti, what do you say to them?
I appreciate your feedback, though. Thanks.

BP:
On this Islamic Banking issue, I have said elsewhere that there is nothing wrong with it except for the fact that there is already serious mistrust among Nigerians based on religion and ethnicity.  I still believe that if someone like Fola Adeola (a Muslim) was CBN governor, he would have maturedly introduced Islamic Banking without any of the drama Sanusi is bringing to this subject.

Can you explain how Sanusi has introduced this with 'drama'? As far as I know, the 'drama' has been mainly from the strident opposition to Islamic Banking from the likes of CAN, which has only served to whip up opposition and fan the flames of paranoia in many southern christians. Take a look at Nairaland; even with zero proof, the general opinion of Sanusi now tends towards the man being an 'islamist', 'sharia man', 'boko haram' and possessing an 'agenda'.

CAN members like Oritsejafor are the ones who are often quoted in the news accusing Sanusi of harbouring an 'agenda'. Isn't that where the 'drama' comes from?

Now Sanusi is offering a forum for dialogue. Where is CAN and other concerned members of the public to pick up the gauntlet?

Some people accuse Sanusi of 'poor timing'. Are they serious? The Christian-muslim relationship will get no better than this. In fact, i expect it to worsen. Boko Haram is one factor, the recent interest of Al Qaeda in Nigeria is another. there will NOT be a better time anytime soon.

BP:
Your position on HSBC is not totally correct. HSBC is a bank and not a regulator. If it willingly subjects itself to Shariah scrutiny, it does so on its own. It will be different if you show me this same information on say the bank of England's website.

I'm not even against a Sharia council providing advice and some sort of regulation for the Islamic Banking sub-sector of Non-Interest banking. But what I am saying is that this HSBC example you gave is not a proper case of comparing like with like.

Please correct me if i'm wrong but isn't Sanusi merely revising and releasing new guidelines for Islamic banking in Nigeria and priming it for its implementation by interested Nigerian banks? The CBN will not be carrying out Islamic banking. Interested and qualified private agencies will. Stanbic IBTC just got a license for Islamic Banking in Nigeria. Is that not suitable for an apples-to-apples comparison with HSBC's situation?

Are you insinuating that there was/is no input from regulatory bodies in the UK before Islamic banking kicked off there?


In any case, my posting of the HSBC screenshots was to take on those people who castigated Sanusi for using the name 'Islamic banking' and who intolerantly assumed that Islamic banking = terrorist banking. I've also showed evidence of non-muslims being able to use Islamic banking in the united kingdom without being forced to convert to Islam (as many Nairalanders fear).

Islamic banking in Nigeria has no immediate and direct effect on my life here in Nigeria. But it can benefit many others, especially many muslims wary of conventional banks that charge usury. I will not join the knee-jerk hate-fest and condemn Sanusi for doing what he feels is best for many people and also for the Nigerian economy. I pin most of the drama and paranoia at the feet of the CAN and PFN members.

MyTake:
Nice one, note however that HSBC is a chinese bank and Nigeria and China are two very different nations especially when in comes to Religious tolerance. I dont think muslims make up a significant percentage of the Chinese population (I may be wrong) but here in Nigeria its almost 50-50 so defiinely we need to be more cautious

HSBC is not a Chinese bank.

noblezone:
Perhaps, you need to read my post again to understand me. I don't have anything against islamic Banking. All I am saying is that the CBN should promote NIB of which Islamic banking can come up. but promoting Islamic banking and not NIB is like NCC promoting MTN and not GSM.
If you dont understand this, I am sorry I can't help more than this. Cheers

And I ask you, what is the best known and most prominent non-interest banking model?
What non-interest banking model is likely to have a short term benefit to the relatively large population of Nigerian muslims?


I'm interested in your answers, please.

Stories depicting non-muslims in Britain patronizing islamic banking

http://www.thisismoney.co.uk/money/saving/article-1601140/I-chose-an-Islamic-bank.html
http://news.bbc.co.uk/1/hi/business/6168800.stm

Also from the site

http://www.hsbcamanah.com/amanah/about-amanah/islamic-banking/industry.html

A young and growing industry
The Islamic banking industry today stands at[b] several hundred billion dollars [/b](estimates vary), and consists of more than 300 financial institutions in and outside the Muslim world. It is the product of the collective effort of bankers, economists, and Islamic legal scholars over the past several decades to develop financial solutions that meet the religious requirements of Muslims.

It is a young industry and a growing industry, and continues to evolve and expand both financially and geographically. It is indigenous and community-focused: i[b]t caters to devout Muslims in indigenous Muslim societies as well as in Muslim minorities of non-Muslim countries.[/b] Furthermore, it is an inclusive paradigm: non-Muslim individuals and communities that seek ethical financial solutions have also been attracted to Islamic banking.

The birth of modern Islamic banking
The first modern Islamic financial institutions emerged in the 1960s and 1970s. Since then, Islamic banking has spread to a large number of Muslim countries, including the GCC and the Arab world at large, South and Southeast Asia, and even Muslim communities in the West. Bahrain is considered a hub for Islamic banking, with significant activity also taking place in Kuala Lumpur and London amongst others. Islamic financial institutions have taken the form of commercial banks, investment banks, investment and finance companies, insurance (takaful) companies, and financial service companies. They follow different banking models: private institutions in a conventional economy (as in the GCC and the West), attempts at national Islamic banking systems (as in Sudan and Pakistan), and dual banking models (as in Malaysia and the UAE). They also take different forms: wholly Islamic institutions, Islamic subsidiaries of conventional banking groups, and Islamic banking windows within conventional banks.

Islamic banking today
This is an industry that is still evolving, developing and growing. It has gone from commercial banking to syndicated transactions and equities, and more recently, into debt issuance and structured products. Its sophistication and product offering have developed along with this change. At an earlier stage, industry growth was in part a reflection of economic growth in the Islamic world, fuelled primarily by oil wealth. This created a growing middle-wealth segment and hence made banking a necessary service to the larger segment of the population. In the past several years, increased awareness about Islamic banking has led to conversion from conventional banking and continued high growth (15-20% in key markets).

So basically, Islamic Banking as it stands will also cater to non-muslims even though it's geared towards meeting the ethical requirements of muslims.

You're the bigot, my friend. Read HSBC's Islamic Banking page. See where it mentions 'Islamic guidelines' and 'Shariah advisory board'?

WaltherPPK:
I don't think your analogy adds up.Why would a man of such standing in the society choose such a place to answer natures call?He could have endured the urge till he gets to his office or home.This case should be investigated properly.May he rest in peace.

I cannot answer that. For all you know, he may have been pressed to a point where he could not hold it anymore.

In my UNI days, after begging someone to lend me her handout, i went off to read in class at nite. When i got hit by running stomach i made for the hostel. Halfway there i could not hold back any longer and i headed for the bush on the way to the hostel. If you had told me i'd be defecating in the bush and i'd use my friend's prized handout as tissue papers, i'd never have believed it.

You know what they say. Sh'it happens

See these attached files? HSBC has no qualms in using the terms 'Islamic Banking' and 'Shariah compliant' to describe their islamic banking services.

So apparently Nigeria is a more secular nation than the UK.

Another point often raised is that Nigeria is too deeply divided along religious lines. Well, the UK had the underground bombings by Al Qaeda, no less, with many Al Qaeda affiliated cells in hiding around the country. Yet Islamic banking goes on as planned.

HSBC is not a country, they are a purely profit driven enterprise. If Islamic banking was not a success for them, would they still be running with it?

The man most likely did not kill himself. Nigerians just watched a man die an ignominious death.

I doubt anyone here has seen anyone drowning or near drowning before. When you're struggling in the water, you don't have time to look at tyres or floaters or anything else those insensitive people threw into the water. All your entire existence is concentrated at keeping your head above the water. For a non-swimmer, it typically involves desperate lunges to keep your head from under the water and to gulp in precious oxygen.

How do I know this? because I nearly drowned in a swimming pool many years ago. I was in water depth of just 7 feet and yet if someone wasn't around to pull me out, i'd have died that day.

The eyewitnesses said he swam to hide behind a pillar. It's just as likely that he struggled to get to the pillar to try to have something to hold on for safety. They said he 'frustrated all efforts to pull him out'. Throwing tyres and jerrycans to a drowning, panicky fellow in the water and expecting him to have the presence of mind to grab for them is just foolish. In my office pool, they'd extend a stick to you for you to grab on to to be hoisted out, not throw a tyre 10 feet away from you and stand aside shrieking for you to grab hold.

he may have committed suicide, true. But it's also just as likely that he may have drowned while experienced Marine police swimmers stood by the bank watching. Let's not judge too hastily.

PS: A senior colleague in my office knows the guy very well. He says the man cannot swim.

Reference:
Well if Bi-Courtney defaults on payments on MM2 why doesn't the banks take it over. That is a silly excuse. Banks have failed period. I am not holding forth for Bi-Courtney but who in his right mind will see a project that could potentially generate millions daily and not move on it. We can clearly see the results of the capitalization - bloated overheads, un-viable branches everywhere and yes more shops in Dubai and London. Let South Africa take over and let the Multichioce story start again. Nigerians amaze me. We criticize government day in day out yet cannot move a finger to finance a two hundred kilometer road. Yet those CEO's live in billion naira mansions in Ikoyi and grumble while driving their multi-million naira automobiles over pot holes they can be making a fortune from.

We can't take reasonable risk. Everything is short term. We cannot trust each other so we expect foreigners to trust us. What is eternally wrong in paying for infrastructure. We die daily, complain bitterly yet are unwilling to pay for safety. When we get to Europe and the US don't we. Government contractors don't want PPP and will do anything to sabotage it just as they have done to our refineries, power stations, railway and now roads simply because they are lazy, wicked and evil. They rather want multi-billion naira contracts out our non-existent and much hyped resources to eternally repair.

Virtually all major roads in Nigeria are eternally under repair costing billions without remedy. That is what we want. I've said it before even in one of the most socialist countries in the world - China, people pay for stuff. What we cannot pay for we do not deserve. Wake up Nigeria is not Saudi Arabia and never will be. It is not in our culture as Africans to wait for people to do stuff for us.

I don't know Bi-Courtney or Babalakin but what he says is absolutely true. Sorry to say so but let us ask Julius Berger and the likes to open their books and let us total what we have paid to them since the seventies to build us roads and bridges and why they cannot by now raise cash from the banks in Stuttgart (where they have been remitting huge amounts of money to) to participate in the PPP. We are just programmed for waste in this country. And here we are insulting our own, just a man, one man, trying to take the bull by the horns against impossible odds. Let him leave it and let's see how the road will improve. I think Lagos state has tried Badagry and has seen how easy it is. Nonsense.

This is utter balderdash. As someone said earlier, isn't the biggest fraud securing the concession without locking down the financing, thereby ensuring the road remains in a state of disrepair while you can point fingers elsewhere? Why should we not criticize the Federal Government for failing to revoke the concession when work has failed to start?

I don't give a rat's arse about 'our own'. I care about the road being fixed, be it by a chinese or sri lankan fellow, I do not care. The people who ply that road will thank whoever fixes the road.

Government is not exempt from abuse over this, the Bi-courtney guy is not exempt and even Pastor Adeboye needs to re-examine his role in matters like this one. Giving credence to conspiracy theories by a known crook is not a wise thing indeed, and certainly not exemplary behaviour.

No be Buhari deal with the Maitastsine cult in the '80s?
Abeg OP stop trying to console yourself for making the r'etarded choice of voting in the same party that had impoverished the nation and squandered tens of billions of dollars with no result.

sirjec:
Whatever it is that is called islamic banking should go to hell. I do not believe in Islam, so why should I belive in Islamic banking. If as a Christian I use islamic bank then what are we saying? Look Muslims would not have allowed this. Why did the muslims protest during 2007 census that the religio shouldnot be included? Because they know the Christians are more than the muslims. Why do the muslim states not allow churches to be inside the gates? Now they want to enact such law here. England and Malaysia is not Nigeria. We are religious here and we are ready to fight for our religion. The law should ot establish anything islamic bank unless they are doing it for muslims alone. We Christians don't want to use a bank called Islamic bank. Is this Sanusi dumb? If he wants non interest banking, Must the name be Islamic Bank? I once said that even Christian religion recognises non interest form of banking, so why can't the name be something different in Nigeria even if it is called Islamic banking in other parts of the world? We should respect everybody's feelings and religion.

I  missed the part where someone put a gun to your head and determined that you must use the Islamic bank or be cut into little pieces and killed.
I also missed the part where someone appointed you spokesman of all Christians in Nigeria.