₦airaland Forum

Any rational person will think security issues affects the economy and in most cases, not the other way round.

If the NSA can take care of security issues, including Kidnappings and riots, Niger Delta crisis, foreign investor's confidence might just be bolstered

It should be the CBN governor and other Economic advisers calling for the resignation of the NSA for making a mess of things and not the other way round.

It just baffles me that no matter how you try to educate people on the fact that its the toxic assets and bad debts accumulated by the banks that lead to job losses and not Sanusi, many will still never understand.
Sanusi did not give any instruction that banks should lay off workers, they did so because they realize how highly leveraged they were and the best route available to them is to lay of part of the fixed cost component of their balance sheets.

I bet if Sanusi had fold his arms and watched Intercontinental failed, many will still rush here to blame the dude for doing nothing. . . .wake up egg heads, he was protecting depositors money, and all he simply did was to sack the crooks that manage those positions and told the remaining bank chiefs to tidy their accounts!

How ironical to even think he was doing everything in his power to recover some of these bad loans that the CEO's have written off, and many still think he's the problem.

Those CEO's awarded loans worth of billions of naira to people without good credit history, it was even learnt that a CEO's housemaid managed to secure a loan of 13billion naira, and just because someone came up and shouted enough is enough, you were so quick to accuse him of so many things.

More bizarre is the fact that some egg-head who should rather focus his attention on pressing security of the state in a time when the country seem to be sitting on a keg of gunpowder with news and horror stories of riots, he'd instead choose to discuss how and how not banking reforms should be conducted, what the hell does he know about financial risk management?

Some half educated punk will probably come up to tell me "he's the NSA boss so he knows lots of stuffs about economics and finance" i'd say really?

Does the fact that being an NSA boss make him knowledgeable in all fields?

Should we expect the NSA boss to tell us how health ministry should be run as well. . . . cos in Nairalanders words "Health issues are related to security issues as well"

No one is even questioning why he made the statement in the first place, could it have been because he got some $$$ from Akingbola and Ibru?

I mean, if i got some $$$, i'd sure want to appear to be a good friend as well.

Lastly, if Sanusi was really that bad, how come he got international appraisal from bodies like the world bank and the IMF? . . . .of course, lemme guess, "its because Management of the World bank are really dumb and they don't know shít about finance, but the almighty NSA boss knows better"

stealth01:
Except Gusau has a political ambition/agenda he shouldnt be making such controversial public comments. Last time i checked, his portfolio was 'NATIONAL SECURITY ADVISER' to the Presidency and not minister for finance or Information&communication

I doubt if some folks here will still be able to see it that way.

They probably believe that as the NSA, he should have a say in issues concerning interest rates and deposit insurance.

They will never be able to understand that the office of the NSA functions differently from the office of the CBN governor and one has not been appointed to Boss the other

In the US, the voluminous information collected by thier NSA(national security agency) is never displayed to the public. Be careful not to confuse daily market report with the topic under discussion. While Nigeria's intelligence gathering may not be as sophisticated as that of the US, there is no doubt that all sorts of data is mined from all sorts of sources.
Laughing about the capability of our NSA to collect any information is just an unwilling attempt to expose your ignorance about how things work. Do you need a little lecture about the limits of espionage activities?

You are truly amusing.

If the limits of espionage activities is that strong in Nigeria, as you probably are trying to claim, one will think the NSA boss should have information before events that led to riots all over the country, destructions of pipelines as well as assassination of high ranking political office holders and such events can be stemmed in the bud escalating, and even up till now murders of ranking leaders in the country remains unsolved, so go ahead and give your little lecture about the limits of espionage activities.

or lemme guess, Gusau is probably installing more spies in the bank to gather banking information which at best will probably prove useless to his office for now, therefore, there aren't enough security personnel to gather security information.

you are really really amusing

tkb417:
LOLOLOL

Nairaland will wound me one day

ure laffing in togolese

let me laff in yoruba

I couldn't help the laughter. . . the guy threw me completely off board, and the fact that he said is so convincingly, like he's working at the NSA's office is something else!

How are you doing boss?

chamotex:
Please what is this NOUN exam and what purpose does it serve?

National Open University exam

NOUN is a university for adults who wish to go back to school to update their knowledge!

Its only a pity that the consistent "promise and fail" habits of our leaders in time past has driven up a pessimistic mindset among Nigerians. This is even evident in the numerous posts above.

We ask for a change, and yet, somewhere deep within us, we tell ourselves it's not achievable. . .if people think its not achievable, then why the hell are we protesting and what exactly are we fighting for?

My boy Joe said it in his interview that "Even if credible elections were conducted, no one will believe still, the credibility"

It's even more evident that you're the one that can't read, or write.
Another reality that you wouldn't like is that as the NSA, Gusau has more data than anybody in Nigeria about any aspect of life. He propably has more data about banks than Sanusi claimed to have, and if you're asking for the data on the pages of this thread, good luck to you, because you wouldn't get it.

I laugh in Togolese   "shi shi shi shi shi shi"

You people on nairaland will not kill me with your funny facts!

I bet the Chief of defense staff has more information on Agriculture than the Minister of Agric, and IG of police, Onovo prob has more data on education than the education minister.

I laugh in Togolese again

becomricha:
This is how unique. look you, Look you Obasanjo has to  prostrate as president of nigeria, for someone younger than him because the other fellow is an oba or sultan. Obasanjo is older than most of the kings. but obasanjo  prostrate before king.  Adenuga has $1billion but adenuga has to  prostrate to a man with less than $100 in his pocket. Look you if mike adenuga or femi Otedola ($1 billion) see my father, they have to  prostrate. It shows you we are unique. money cant buy you the presidency.

https://www.seilerfamily.net/gabriele/10%20Prostrate%20with%20Bishop.JPG

such trash!

Sky Blue:
So who do we prosecute first in order to appease you? If you want to know what he has done why not go read the results of the investigations or the charges EFCC has filed against him instead of pretending they don't exist? Amusing. If EFCC can get Ibori prosecuted now then why not? What is even more pathetic is that you could not even allude to him possibly being innoccent as a justification for letting him go, you had to revert to "leave our son" mentality. How do you know Delta State indigenes are not happy with him being pursued? Or do you now speak for the whole of Delta State?

Well said!

Sky Blue:
Last time I checked he is still a member of PDP and PDP hasn't yet had its primaries or selected its flag bearer. Plus, I would like to know what other options there are first. I am happy he is running though, would try to see if I can work with others to push for a presidential debate before the next elections[b][/b]; that would be something to watch.

"

Presidential debate in Naija?

ojimbo IV:
that is the point. the day ibori can no longer afford N20m, they know what to do - bountyhunting 101.

Well, unless his accounts are locked, he can afford 20 million naira every day if he wishes!

Joey boy!

Sky Blue:
Speak for yourself please. I just don't know why people like throwing everyone into the fire; is it a means of justifying or dealing with personal shortcomings?

ojimbo IV:
onovo should stop using state money to act action movie for us.
when he is ready to catch this ibori guy, he should place a N1m (only) bounty on ibori's head and see prompt results.

And why would i want to deliver Ibori for 1m naira when Ibori can offer me 20 million without batting an eye

^^ I bet the guy would have bailed out of the country a long time ago, but he had no where to go.  Stepping into the UK is a no no, and neither is the US!

All the Police need do is to put a price tag on him. . , I trust Naija men!

Hear

Ibime:
Na lie oh, dey must carry out jungle justice on the spot. . . . I no want story like Bode George wey dey chillax for 2 years only. . . if dem no deal with the guy kpatakpata, whoever is President in 2011 may pardon him sef. . . you know Naija "do and undo" politics between competing cabals. . . for resisting arrest under force of arms, there is every legal justification to send this weasel called Ibori to the great beyond.

Quite tempting!

But that wouldn't be a sweet victory, rather, it will only make a martyr!

I'd rather he be stripped of ALL his assets, his family should be given a monthly stipend of 20,000 naira, and he should be made to see the four walls of Nigerian prison

[size=13pt]IBB is next![/size]

He'd probably take is campaign to kirikiri.

Interesting novel!-------The Hunt, bestseller!

News Flash

Ibori petitions Attorney General.

EFCC storms two banks for Ibori

Court declares hunt for Ibori illegal

EFCC declares Ibori wanted

Hoodlums beat the heavy shít out of EFCC operatives

Jonathan demands that IG arrest Ibori

IG refused Jonathan's orders

IG withdrew security operatives at Ibori's residence

High court orders Ibori's arrest

IG gives deadline for DIG and AIG to find Ibori!

Kobojunkie:
Is this not the same Onovo that Sahara report claims REFUSED to obey the AP's order's concerning the same issue?

In our country, if you don't read the news, you are uninformed, if you read the news, you are misinformed!

mikeansy:
But you should not be creating a crisis in the name of resolving malpractice.

OK I can now see that your anger is that Gusau exposed Sanusi.

You 're wrong!

My anger is that the NSA is not minding his business!

NSA is not Sanui's boss, and neither does Sanusi report to him, so he really doesn't have a right to make an official public declaration of Sanui's performance, except mandated to do so by the President.

Its true that economic activities are directly security related, but it is hard to argue which is the dependent variable here.

As a matter of fact, going by your assessment and analysis, Sanusi also has every right to write a page dossier on how the gross incompetency of the NSA in curbing the issues concerning Niger Delta crisis has dealt a mighty blow on Nigerian economy, costing the country hundreds of millions on a daily basis and weakened the naira in return, part of the ripple effect of which includes job loses.

Of course, such security issues are directly related to the economy, so the person mandated to be in charge of economic issues has a right to publicly condemn the one in charge of security issues!

I think your anger is just directed at Sanusi

mikeansy:
Do you ever consider that Gusau may have reasoned that poverty and lack of decent jobs may have been part of the reasons people kill themselves over land in Jos?

Do you ever consider that Gusau may have reasoned that the hope for such jobs and poverty alleviation are stiffled by the credit squeez on Banks caused by Sanusi's ill-planned policies?

Not all tough talk is helpful my friend. Sanusi had more serious work, our focus in this country should be on growth of the economy not IMF regulations borrowed from textbooks.

Poverty and lack of Jobs has been the bane of Nigeria's problem since the days before Lord Lugard's

The fact that the CBN governor moved in to address issues of malpractices in the banking sector in order to bolster investors confidence shouldn't be tagged the primary reason for lack of Jobs in the first place.

Are you by any means telling me that if Sanusi simply kept shut and watched the banks fold up, we wouldn't experience the mass job cuts we are currently witnessing?

Are you in any way saying the every other person who had the power to call Sanusi to order are simply dáft and general Gusau in his wisdom is only the person who foresees the probability of the implication of the reforms on Jos crisis?

Have you considered it that Gusau might just be making his restless statement because of his strong ties with some of the bank chiefs who got exposed?

Could he have gotten some $$$$ from them and feels its the right time to prove the worth of his friendship? {{i mean, i wouldn't be so quick to rule the possibility out especially considering his recent implication in Haliburton scandal}}

mikeansy:
Ok he was speaking on behalf of violent because violent is the employer of the NSA and ultimately the acting President told violent that Gusau's position does not represent that of the Presidency.

Banking issues are economic issues, and economic issues form part of a country's National Interests and as such are National Security Issues.

Go do some reasearch 'type into google, is economic security a National security concern'? read widely and come back to this debate then you will know how it concerns Gusau.

Anything can be related directly or indirectly to National securities, however, the NSA's primary objective is on issues that might pose direct threat to Nigerian lives in the short or long run. Anybody will think we have enough securities issue on our plate already.

It becomes really absurd when the NSA does not consider it fit to address such issues, but will rather meddle with the decisions made by the office of the governor of Central bank of Nigeria.

More absurd is even the fact that the countries two legislative bodies, President Yaradua, as well as Acting President Goodluck Jonathan have not in any way disapproved of the CBN governor's action.

Next, we will expect the IG of police to tell us how to manage our foreign reserve's because it's probably has something to do with security issues!

naijaking1:
Nigeria we hail thee
Anytime, anybody, anywhere dares say something uncomplementary about Sanusi, no matter how truthful, we have a long line of ragtag paid, ethnically biased, and religiously jingoistic fifth dimensioners pilling up personal, distracting, and false allegations against the person,  what a shame

Anybody who doesn't know that the success of our banks, economy and financial health is security issue should simply go read a small book in sociology.

Today, even children's lunch program at US schools was declared a security issue, because it contains too much fat, and too much fat leads to obese children incapable of the physical requirements of joining the army, etc.

Gusau doesn't even need a degree in economic, because he should have top level economists in his office. If he is corrupt like the other people on the list, why don't we let the court swing into action.

My concerns are not only about the issue raised, if you probably take a quick survey, you find a million people who have a million reason to want Sanusi out of office.

What i'm concerned however, is that a high ranking Security Adviser who has failed in his duties to curb events of crisis which has seen hundreds of Nigerian children sent to their early graves as well as address other pressing security issues, saw it fit to hand out condemnations on acts of banking risk management and fiscal policy in the country.

What more should we expect? Gusau will probably wake up tomorrow and write a detailed article on how interest rates issues or foreign exchange polices must be addressed?

Let's face it, this dude, in as much as he is a ranking officer in the government, has no business condemning another high profiled government official whose offices and functions are not directly related to his.

I have never been a fan of Sanusi, because of his extremist beliefs, however, i will be a hypocrite if i don't acknowledge the fact that his reforms are in the best interest of the country in the long run.  The dude simply saw a bubble, and he stopped it from expanding further

mikeansy:
I don't think you have any clue the role of the NSA in any Governemt. By the way that there is a question of corruption against Gusau that no one has proven yet in a court of law does not strip him the right to comment on the economic security of Nigeria and his perception of where it is headed.

And if you think the speech by Gusau was designed to for the sake of Gusau talking also know that sometimes such occassion is used to alert the general public that Government is looking to change course on certain policy issues.

I can not emphasize this enough. There should be sepration of duties, if Sanusi thinks our society is too unfair and too corrupt. He should apply to be a  policeman or apply for EFCC. The job of the CBN Governor is not for hot heads who want to right all the wrongs of the world.

I am a passionate and unashamed defender of Nuhu Ribadu's anti-corruption drive but I also know that the same behaviours of Ribadu I supported from the EFCC Boss, I do not expect from the CBN Boss.
It can not be in the interest of our country to go on a london road show to tell the world tales of how everybody in the Business world in Nigeria is corrupt and then turn around to ask the same audience to come and invest in your country.

I still don't get how the statement from the NSA about banking reforms show the government's position.

He wasn't authorized to speak on behalf of the president, and he's certainly not doing so on behalf of the Acting president, his duties are not directly related to banking reforms, so in many ways, it can only be assumed that he spoke for himself as opposed to what you said earlier that "The Government has passed a vote of no confidence on Sanusi".

The fact that Gusau does not like something does not necessarily mean "the government" doesn't like it.

As for the role of the NSA, his duties is to serve as a chief adviser to the President on National securities, and there is no way, under clear terms, that is office is involved in Banking issues.

I ain't bothered!

What exactly is going on here?

Gasau, a man heavily indicted in the Haliburton scandal made a statement and Nairalanders classified it as an "official vote of no confidence"?

Where the hell did that come from?

Gasau is not the "government" as falsely and blindly stated in an earlier post.

Jonathan has not complained neither has the senate raised any eyebrow, the fact that some dáft person said it does not make it official!

Ikengawo:
Will you people shut up? lol jesus

NOTHING announced falls short of sending you ppl into depression

rich people in EVERY COUNTRY IN THE WORLD do RICH LAVISH THINGS, it's part of BEING RICH. He owes you nothing and made his money legit, so why are you all talking about employment.

newsflash: HE EMPLOYES MORE NIGERIANS THEN YOU lol.

im happy for the guy his daughter and beyonce lol.


i told you slaves that you didn't have to be corrupt to make it in nigeria and i was lambasted. now look, this guy is sponsoring beyonce's life with pocket change he made legitimately. illiterates.

I present to you another poster who claims to have monopoly on idiocy!

sjeezy8:
You cant compare Jonathan to obj- because jonathan has absolutely NO exerience

Jonathan is still a nobody somewhat. He doesnt have the respect of 70% of the country or the boys in
khaki(military).

If Obj doesnt back Jonathan who will?

I will!

Kobojunkie:
Hold up . . . is this to say that our next president could be a confirmed criminal? ROFLMAO!!!

laughing my butts off!

kafanchan:
I wonder how some people reason on this esteemed forum. Gusau said the reform damaged the economy, Is it a lie? He said few banks were punished for what all banks seem to be doing, was he not saying the truth? Then what is all the hullaballo all about? I hear some people saying that the economy and the banks would have collapsed if Sanusi had not taken that ignoble step, who told you that Sanusi was saying the truth?

I always say Sanusi is a liar and a fraudster. Shey una hear wetin dey happen as per the 200bn loan that was meaant for Agric development. Sanusi gave loan (200bn) to farmers through first bank i.e he disbursed the money from CBN and gave first bank to give to farmers. After a little protest by the other commercial banks that only First bank should not hold the money, he asked first bank to give part of the money to UBA. This happened early last year. I know we all aware that they never gave these loans to the farmers. Can u imagine how much food and export 200bn would have provided if Sanusi had forced these banks to give these loans to the farmers?. Instead, he allowed these banks to keep this money and they traded with it. First bank and UBA lent out these money to other banks at interest. Early this year, when senators and other stakeholders started asking Sanusi where the money was, Sanusi said the money was with the banks and that he would withdrawal the money because proper due proccess has not yet been done on the farmers. HE SAID THIS AFTER HIS FORMER BANKS (UBA AND FIRST BANK) MUST HAVE ENJOYED FLOAT AND INTEREST OF NOT LESS THAN 30BN ON THE GOVERNMENT MONEY THAT IS MEANT FOR PROVIDING FOOD FOR US. This means that Sanusi never had the intention of giving the money to develop Agric, he lied and used the opportunity and gave free deposit money to UBA and First Bank. And you are saying these man is a saint that came to cleanse our society?

Watch out as you discover the over 100bn loan that First bank( under Sanusi as the risk manager) gave to an oil company in 2007. The loan is bad and they never provided for it.

Forgive my ignorance, but can you provide a link to the source of this?

I'm tired of hearing "One of our sources said a source said an eyewitness saw an undisclosed man speaking with another undisclosed man on. . . . . . "

Total bollocks!

If they {Journalist} don't have a news to report, why not take up another job. . . like turn fishermen? instead of publishing trash and misinforming Nigerians with fictitious stories