₦airaland Forum

The Nigerian Army has said the tactics employed by the Islamic fundamentalist sect, Boko Haram, in its operation is strange to it, but assured Nigerians that it is equal to the threat, adding that it will soon unveil strategy to tackle the group.

After several hundreds have been killed, these clowns don't even have a single strategy yet?

Ordinary People. . .haha, the same people who got him his extra ordinary position?

If you kill one person, you get charged for murder.

If you kill thousands and plan to kill a lot more, you re begged to consider some juicy amnesty plans.

kini big deal ?

shior!

In the last one month, the number of times i have heard that the army is being "drafted" with "heavy artilleries" to take over the security of a certain place and prevent an occurrence of "bokoharanation" must have numbered 120, possibly more.

And yet yesterday------just yesterday, we had to bloody bomb blasts on the Nigerian soil.

The Army has failed, PERIOD!!!!!!

Ti oloko nla ba ndo iyawo eni, ebe lanbe!

you don crase i swear!

Guess who d person wit a big dong is, in this case. lol

well, what i do know is that we're getting screwed in the árse, and the person isn't using lube

By the powers vested on me, I now Pronounce Nigeria DEAD! 

dayokanu:
It is not that difficult to see.

If i borrow $1billion from a bank Does that mean i am worth $1bn?

If the bank should come tomorrow for their money How much would I be left with.

So if your friend borrows you money you would count it as part of your asset.

Your balance sheet should show your asset less your liabilities

But if you are borrowing 1 billion dollars from the bank, it would make sense that you only have 5 billion dollars in liquid or illiquid assets to stake as guarantee for the bank that you'd return their money. . .No?

I think several people here are comparing cash with wealth.

If you are borrowing X dollars from a bank, then you should be able to generate R returns with the amount borrowed such that the ending valuation for your project must be worth X + R .  it only makes sense that valuing Dangote's business will reveal some assets that are capable of generating far more than the amount borrowed from the bank.

The money collected from the bank is only to provide instant liquidity, but a total valuation of an individuals wealth must include the value of their assets and its return generating capacity. . .

MR A has 300 naira in a savings account

MR B borrows 300 naira and invests in an Ice block machine than nets 10 naira a day.

If you are asked today, which of them is wealthier?

Oh please Musiwa, we know you have "intelligent" answers to every issue, and the solutions you proffer, supported by your quality graphs and maps, is all we require in the direst of times, but this time, could you please open a new thread and list the maps in there. . . .and NOT here?


Pls?

The Nigerian Police not intelligent or better equipped enough to stop this people.  More abysmal is the fact that the federal government has chosen to send in a thousand military men to Maidigury to stop a few handy rascals who they don't even have enough information about.  The joke only becomes clearer as the group itself express surprise on how the Police kept getting things wrong each time they strike.

I can see more attacks in the near future, and as time passes on, this group will only get bigger and bolder, and sadly enough, we wouldn't be able to do anything to stop them.

We'd soon be having a Pakistan in Nigeria, by then, it will be a minute too late.

sweet9ja:
So, is the oil industry not part of the Nigerian economy?

Read his post, then read my response, this time, slowly, let's see if you could understand why i said he's wrong.

190:
GOAT OWNERS like nasoeb ARE ANGRY COS THEY ARE OWNERS OF GOATS

We know you are dumb, point taken!

GAR3TH:
Nigeria has been growing since 1999, why are you all surprised. Just proves that many don't even know whats going on in their own country. The main reason for the growth is the private sector in Nigeria and not oil as some people are saying.

while international investor are running to Nigeria to invest you have Brain drain Nigerians going overseas. Then you come on here and say the Lebanese, Indians, Germans etc are in control of almost every business in Nigeria.

Who is the fool, the one that left or the one that came and is making money. Like I always say, Nigeria is the most prosperous place in Africa to start a business, Its a shame many Nigerians are too blind to see it.

Wrong!

The petroleum industry is the main factor behind growth; it provides 95% of foreign exchange earnings and about 80% of budgetary revenues. Agriculture accounts for 25% of the GDP and is the major source of income for two-thirds of our population.

Nigeria's exports were worth 18.45 Billion USD in the fourth quarter of 2010. Exports of commodities (oil and natural gas) is the main factor behind growth and accounts for more than 95% of total exports. Manufacturing, technology, construction etc make very very little impact to the overall GDP figures.

Haha, who says Nigeria is not a fcking Mafian Business?

This is coming moments after EL-Rufai's critique of the current administration. Wasn't there a statement from the Jonathan campaign team about how "ungrateful" El Rufai is after being pardoned by the President? I presume this latest moves will be to "teach him some lessons" not to "insult elders". . . . . . .thumbs up guys, way to go!

Let's leave the obvious thieves in their homes, perhaps even pay them a lifetime mouth gapping wage figures while we send EFCC grasping at straws.

A highly confidential intelligence gathering is required to run this kind of organization aground as opposed to the sheer stúpidity of sending thousands of military men into a region without knowing who to arrest once you get there!

By the time a few hundred individual's phone conversations are tapped, recorded and analyzed for clues, bank accounts monitored for money flows, houses bugged with hidden recorders, it should not take more than a few months to identify the main sponsors of the cause.

[quote author=haka_nai link=topic=698845.msg8588321#msg8588321 date=1309007531]SSS na to wear suit put dark gurgles pose    behind anyone looting!!!![/quote]LMAO

enyojo:
Thanks for educating people like me.
You sound very intelligent.

_{But that doesnt mean I wont attack you when I know u go wrong. Small boy}

Haha, attack me? no be fight now. . .

@Manny4life:

I have just seen a CBN act of 2007, which repeals the 1999 act.

In the section 11, subsections 2f, it states explicitly that the President can remove the CBN governor but must be supported by two-thirds majority of the Senate.

So i guess i was wrong earlier on.

Part (12)(1)(a to d) is just saying ethical misconduct, it doesn't not explicitly say either the executive or legislative branch can start a judicial proceeding

edited,

,

manny4life:
Thanks for the correction but what I implied was the CBN is an independent agency establish through the legislative branch, correct me if I'm wrong. Well Nigerians do things differently, the decisions of the CBN shouldn't be subject to the executive branch ; this is to avoid conflicts of interest, well if I'm wrong, then I accept it. Otherwise, if the CBN decisions are subject to the executive branch, I'm certain that Mr. President is not happy with a decision, being that it's subject to his office, he can revoke it. That right there is Conflict of Interest. Besides, while I know that the president cannot remove him, I am surprised that legislative cannot remove him either; then who can? A court sentence? from who? Who will bring that court proceeding against him? The legislative branch? The people? The banks? or is it the president? I mean who?

Yeah, the Central Bank is meant to be independent. . ,  .Nigeria is however a different country operating in a different time.

I have edited my earlier argument about the termination of the services of the CBN governor, but seeing as the constitution does not grant either the executive nor the legislative arm an explicit power to terminate his power, the argument would be such that whichever party that needed to terminate his appointment, (either legislative arm or the executive) might have to go through a Judicial process in doing so.

Seun:
It just shows that she's no fool.  The value of the naira is controlled by the CBN & not the Finance Minister.

It's unpatriotic.

[quote author=EzeUche! link=topic=698645.msg8585628#msg8585628 date=1308955374]Who cares? Dollars are the international standard.[/quote]Nigerians care!

It's disgraceful and absolutely shameful!. . .How do we tell our story to the rest of the world without looking like ediots?  The head of our Economics and Finance does not have faith in the Naira?

Please people let's not get ahead of ourselves,

First off the CBN isn't a "Private Bank" and does not issue shares (publicly of course), but a monetary regulatory independent agency of the Legislative branch of Govt.  The head of the CBN is selected by the president and is confirmed through majority vote by the House of Senate and is subject to removal through the same process, this is however in the case of GROSS MISCONDUCT such as fraud, theft or whatever is defined as a misconduct within the code of professional ethics therefore, the Finance Minister CANNOT sack the CBN governor. Although it is often said, the finance minister can play politics very well using strong recos to the house to remove the CBN gov. although quite unlikely but not impossible.

The CBN is independent of the legislative branch, but its decisions are SUBJECTIVE to the executive branch of Govt!

The removal of the CBN governor is solely dependent on conditions stated in his letter of appointment, and by all means, the President might reserve an explicit authority without the approval of the senate, to terminate his appointment.

9ja voice:
since beer sellers and other sharia prohibited business (though legal in national laws) are not allow to borrow money from this islamic bank,that simply make it bad for such society like ours and should not be allow.
do you guys think that we can be decive by the word "interest free" what about the silent information of division in it such as "sharia prohibit but lawfuly legal".
 our muslim brothers thinks we are silly. that is why I still believe that many nigerian muslims support boko haram struggle but just dislike the way they are going about it.

The sense in it is this:

A bank collects money from Mr A (depositor) and gives it out for Mr B (borrower) to conduct business or whatever.  Thus the Bank acts as an Intermediary and is not really concerned with what Mr B does with the money as long as he generates enough profits to pay him (intermediary) back, so that he (intermediary) could refund Mr A's deposit as and at when due.

Now this is the typical Banking system!

Let's say Mr A is a Muslim, whose believe it is a sin to eat pork/ gamble/ consume alcohol/ engage in prostitution.  and Let's say for some reason Mr A holds this view religiously so much so that he wouldn't give out his money for anyone to conduct such businesses.  Under the normal banking system rule stated above, directly or indirectly, Mr A would still be lending out his capital to individuals engaged in such businesses-------> one which contraries his own beliefs.

So Mr A is simply asking for a Banking product, that will ensure that his capital deposits is only directed at businesses according to his religious beliefs.  The catch here is Mr A might likely earn very low interest on this capital as the product provider will NOT be charging borrowers an interest, which implies that the provider will only make profits by investing a substantial sum of the capital in other companies such as auto manufacture, agriculture, technology etc etc.

It's just a banking product that allows for individuals and investors to conduct business transaction in a way that provides allowance for their personal and religious views, nothing more.

And NO, contrary to what many people think, it will NOT be forced on everyone!

chamber2:
You are the one missing it.What does the phrase ''Sharia compliant '' mean to you?From the recent practices and experience of the sharia system i don't think i need someone to tell me what that phrase represents.

I am not against Islamic banking mind you.But it should be run like any other financial institution with applicable laws and supervision.You don't do this things in a supposedly secular state.

It's been explained up there already!

Sharia Banking is when Banks don't charge interest rates on loans. (this definition is too simple to expressively define the subject)

Sharia Investment refers to investment in companies that only engage in services not prohibited according to Islamic law.  In this case, a mutual fund engaging in Sharia Investment will not invest in companies that sell alcohol, pork, or engage in services such as gambling!. . . . and NO!  you don't need special banks to run Islamic Banking. . .normal Banks can offer Islamic Banking products.  British banks like Royal Bank of Scotland, Barclays, Llyods. . .etc all have Islamic Banking units with portfolios running in billions of pounds.

chamber2:
Hey!What is comical about my statement?

Because you think those who contravene Islamic Banking principles could lose their hands or get stoned to death. . .dude, you should have read a bit on Sharia Banking and Investment before making an argument against it.

You too stop smoking weed[b].Is the US Islamic bank Sharia compliant?Does someone has to lose his hands because he/she contravened the US Islamic bank principles[/b].How many times did you see the US fed chairman blowing trumpet about the Islamic bank.Why would our own CBN governor champion this course?

LMAO!

Chei! see another person displaying Ignorance!  this is too comical to be true!

Sun of god:
CBN is a private bank and the CBN Governor is elected by its shareholders.

The Finance minister is appointed by the Federal Govt and certainly cannot sack the CBN Governor.

She can undermine his position though and cause problems for him - just as he could do the same to her.

"The CBN is a private bank". . .hahahaha! chei, my belle o!

oyb:
DUDE, NO BE NAIJA BANKS WE DET TALK ABOUT HERE O

why should that matter?

Nigeria is NOT Greece!

While Nigeria can print out money to pay its debt, Greece cannot!

While Nigeria has experienced a strong positive growth in the first quarter of this year, Greece has not!

While Nigeria's annual GDP growth rate has grown from 7.86% in the fourth quarter of 2010 to 8.29% in the first quarter of 2011, Greece has only grown by 0.2% this year.

While Nigeria posted a surplus in Balance of trade, Greece has only gone from bad to worse.



If only we can put a leash on Boko Haram crises, fix power problems, improve the abysmal poverty rates, and focus on improving employment situation, Nigeria might actually lay claim to truly being the giant of West Africa.