Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ - Politics (6)

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Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ - Politics (6) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ (8590 Views)

No More Business As Usual, Buhari Warns / Even If PDP Shows Video Of Tinubu/Buhari Robbing CBN, It Won't Change Our Minds / Emir Sanusi Set To Take 17-Year-Old Girl As Fourth Wife (2) (3) (4)

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Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by loma(m): 2:32pm On Jun 04, 2009

From the new CBN helmsman to the Senate yesterday!

"In 1999 when Obasanjo came, in his presidential address, he talked about power, Niger Delta and infrastructure. Ten years later, we are still talking about the same power, Niger Delta and infrastructure.
If we continue like this, by 2019, we are still going to talk about the same thing. For me, the solution is simple: let us start doing something. We cannot just sit and keep talking about visions and agenda without action. "

"We just have to start something; and, I think power is very critical in all of this. Until we address problem of infrastructure, we cannot achieve vision 20:2020."

On the seven-point agenda of the Federal Government, reiterated that, "critical infrastructure is a first item and personally, my view is that until we address the infrastructure problem in this country, we will not begin to solve our problems.
"As a matter of fact, my view is that, in the seven-point agenda, if we could focus on two or three things and finish them up in the next four years, that would be a far more effective contribution to this country than focusing on the seven agenda.

"This is a country where we do not have linkages and because of the absence of linkages, we do not have economic growth and there are many sub-optimalities; we produce gas and export it; we do not have power plants; we produce crude oil; we import refined petroleum products; we export steel rods and import flat sheets.

?If we only set up on ground the industries that will integrate these sources of growth into the domestic economy; if we set up our power plants, set up our own refineries; if we set up our own flat-sheets companies, the multiplier effect in the economy and on growth is amazing and if we do not do that, we cannot grow.?

He continued: ?We create new industries with power; the small-scale industries we are talking about cannot survive without power. All of us grow up in villages where people had grinding machine, in a village where a woman has a deep freezer and by simply selling ice water, she is able to pay electricity bills and feed herself and her family.

?None of the cottage industries can survive without power. So, I have not heard anyone say that infrastructure should not be a priority. I think there are questions over exactly how to finance it. Do you adopt inflationary way of financing or do you cut expenses or do you prioritise?
?But until we address the infrastructure problem, we will not be able to achieve our vision 2020 goals. So, I am very clear on that and I would like to say that this is something that will need to be pursued.?

It is now N165 as at today and it will continue to strengthen as it is clear that there will be a convergence. What we need to do is to open up inter-bank market; to improve the bank open position limit; to go back to Wholesale Dutch Auction (WDAS) and to reverse some of the emergency measures that were taken, which were temporary as quickly as possible.
?People do not really care if it is N150, N170 or N180 to the do
llar, but people want to know, and, I think this is what you mean when you say instability, people want to know it is N180. If you import a shipload of rice at N180 to the dollar, you want to be sure that by the time you sell your rice and you want to buy the next ship, it is not N250.
?That is really what you want; it is about managing expectations and I think it is being done extremely well and the best thing is to continue along these lines.?

?You would not solve the power problems of SMEs by simply lending them money; the man still needs a generator; he still needs diesel; now, if you can produce him with power, it reduces the cost of production; and suddenly a company that would not have qualified for loans now becomes qualified for loans because its cost of production has gone up and it becomes more profitable.

?For me, economic growth and development is not about looking at GDP and interest rates. At the end of the day, we have 150 million Nigerians. When I ask whether Nigeria is improving economically or not, the question is how many Nigerians, who did not have three-square meal a day, now have three-square meal a day?

?How many Nigerians, who did not have roofs over their heads, now have roofs over their heads? How many Nigerians, who did not have education, now have education? That is economic development. If your GDP is growing by 20 per cent and 90 per cent of your population is living in poverty, I do not see that as development.
?So, economics does not give you one answer; it gives you a variety of options. The choice of options is often not driven by economics but by political ideology. Whose interests are you interested in protecting first?

??The constant theme was that if you cannot show that your economic policies have improved the wellbeing of the majority of the people, you cannot claim that you have succeeded. I think it was valid in 2005; it is valid today and it will be valid tomorrow.?
Responding to a question on redenomination, Sanusi said: ?My views are known on the issue. I think it is cosmetic. I think it has been done in countries that suffered hyper-inflation. Turkey did it. Argentina did it. Israel did it. These are countries that suffered inflation of 700 per cent per annum, 1000 per cent per annum. They slashed five zeros and eight zeros and 10 zeros and they slashed again.

?And, usually redenomination is done after you have conquered inflation; after you have completed reforms and you signal a new era. We have not reached that stage even if we are going to do it, I think it is premature.
?I have always expressed this view and certainly, it is not something I am going to pursue. Governor Soludo, I think this country should thank for a job well done. I think he was a very good governor; I think the CBN under his leadership had taken very bold moves. I think he has established a foundation on which we are to build.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by DisGuy: 3:20pm On Jun 04, 2009

For me, economic growth and development is not about looking at GDP and interest rates. At the end of the day, we have 150 million Nigerians. When I ask whether Nigeria is improving economically or not, the question is how many Nigerians, who did not have three-square meal a day, now have three-square meal a day?

?How many Nigerians, who did not have roofs over their heads, now have roofs over their heads? How many Nigerians, who did not have education, now have education? That is economic development. If your GDP is growing by 20 per cent and 90 per cent of your population is living in poverty, I do not see that as development.
?So, economics does not give you one answer; it gives you a variety of options. The choice of options is often not driven by economics but by political ideology. Whose interests are you interested in protecting first?

very commonsensical approach to economics!

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by Kobojunkie: 3:35pm On Jun 04, 2009

loma:

"We just have to start something; and, I think power is very critical in all of this. Until we address problem of infrastructure, we cannot achieve vision 20:2020."

loma:

On the seven-point agenda of the Federal Government, reiterated that, "critical infrastructure is a first item and personally, my view is that until we address the infrastructure problem in this country, we will not begin to solve our problems.
"As a matter of fact, my view is that, in the seven-point agenda, if we could focus on two or three things and finish them up in the next four years, that would be a far more effective contribution to this country than focusing on the seven agenda.

Excellent slam!!!

loma:

"This is a country where we do not have linkages and because of the absence of linkages, we do not have economic growth and there are many sub-optimalities; we produce gas and export it; we do not have power plants; we produce crude oil; we import refined petroleum products; we export steel rods and import flat sheets.

Tell em!!

loma:

If we only set up on ground the industries that will integrate these sources of growth into the domestic economy; if we set up our power plants, set up our own refineries; if we set up our own flat-sheets companies, the multiplier effect in the economy and on growth is amazing and if we do not do that, we cannot grow.?

Preach it!!

loma:

He continued: ?We create new industries with power; the small-scale industries we are talking about cannot survive without power. All of us grow up in villages where people had grinding machine, in a village where a woman has a deep freezer and by simply selling ice water, she is able to pay electricity bills and feed herself and her family.

?None of the cottage industries can survive without power. So, I have not heard anyone say that infrastructure should not be a priority. I think there are questions over exactly how to finance it. Do you adopt inflationary way of financing or do you cut expenses or do you prioritise?
?But until we address the infrastructure problem, we will not be able to achieve our vision 2020 goals. So, I am very clear on that and I would like to say that this is something that will need to be pursued.

Great!

loma:

If you import a shipload of rice at N180 to the dollar, you want to be sure that by the time you sell your rice and you want to buy the next ship, it is not N250.

Abi ooO!!!

loma:

You would not solve the power problems of SMEs by simply lending them money; the man still needs a generator; he still needs diesel; now, if you can produce him with power, it reduces the cost of production; and suddenly a company that would not have qualified for loans now becomes qualified for loans because its cost of production has gone up and it becomes more profitable.

Common sense!!

loma:

For me, economic growth and development is not about looking at GDP and interest rates. At the end of the day, we have 150 million Nigerians. When I ask whether Nigeria is improving economically or not, the question is how many Nigerians, who did not have three-square meal a day, now have three-square meal a day?

?How many Nigerians, who did not have roofs over their heads, now have roofs over their heads? How many Nigerians, who did not have education, now have education? That is economic development. If your GDP is growing by 20 per cent and 90 per cent of your population is living in poverty, I do not see that as development.
?So, economics does not give you one answer; it gives you a variety of options. The choice of options is often not driven by economics but by political ideology. Whose interests are you interested in protecting first?

??The constant theme was that if you cannot show that your economic policies have improved the wellbeing of the majority of the people, you cannot claim that you have succeeded. I think it was valid in 2005; it is valid today and it will be valid tomorrow.?

Ofcourse!

loma:

Responding to a question on redenomination, Sanusi said: ?My views are known on the issue. I think it is cosmetic. I think it has been done in countries that suffered hyper-inflation. Turkey did it. Argentina did it. Israel did it. These are countries that suffered inflation of 700 per cent per annum, 1000 per cent per annum. They slashed five zeros and eight zeros and 10 zeros and they slashed again.

?And, usually redenomination is done after you have conquered inflation; after you have completed reforms and you signal a new era. We have not reached that stage even if we are going to do it, I think it is premature.
?I have always expressed this view and certainly, it is not something I am going to pursue. Governor Soludo, I think this country should thank for a job well done. I think he was a very good governor; I think the CBN under his leadership had taken very bold moves. I think he has established a foundation on which we are to build.

I think agree on the most with the above! Now, we can only hope he does his job and do it right.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by agabaI23(m): 4:05pm On Jun 04, 2009

Somebody from Nigeria impresses Kobojunkie? If you Sanusi, tell him he has done well even if he cannot do any further grin

Kobo did not question anything in the article. This is june, 2009 grin

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by Hilundi: 6:57pm On Jun 04, 2009

Methinks that the new CBN governor would need some high level of proactivity as a'basement' to kick start his tenure so to say.

I heard him made mention of liberialising the forex market as his mission and the question i would have loved to ask him is what happens to the

supply side of the forex market ?

He should not 'blindfold'himself and get to serious business so that we do not find ourself in the same economic mess that caught up with

RUSSIAN when she was trying to save the value of her currency by building her 'whimps' round her reserves!!!!!!

The onus would lie on Sanusi to understand the perculiarity of the Nigerian economy particularly in the direction of foreigh exchange earings which

is still tied to crude-oil.

where does he expect to get the foreign exchange,if the foreign reserves dries up ?

How would he liberialize a supply side that not even the president can guarantee?

The truth of the matter is that the the Nigerian economy needs a high level of creavity particularly now that the role of a CBN governor has change

from the conventional minting of the local currency to a broad-based policy maker whose judgement could make or mar the economy as a whole.

Anything less would be nothing but far-fetched .

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by biina: 7:07pm On Jun 04, 2009

I think what he (like past CBN governors) is trying to achieve is the convergence of both the orthodox and parallel market. The value at which it converges is secondary.

One of the problems the CBN has always had in effecting monetary policies stems from the huge percentage of forex that flows through the black market as opposed to the regular channels e.g. banks. The forex sold in the black market is primarily sourced from the orthodox market, and the margin between the black markets provides the incentives for people in the orthodox channel to sell to the black market. Hence the black market can be seen as forex retailers i.e. middlemen, who buy from the orthodox market and sell to the end consumer.

If the prices in both markets converge, we will be able to minimize transaction via the black market and thus the CBN would have a firmer grasp of the financial sector.

Unfortunately, corruption in the system and unethical practices have continuously hindered progress in this area.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by GeorgeD1(m): 9:20pm On Jun 04, 2009

Like all political appointees, they start very well. Saying the right words, dancing to the gallery
but at the end, they go down in a whimper. All huff and puff with nothing concrete to show for
it. I hope Sanusi doesn't go down this road. I just hope he turns out different for the sake of Nigeria.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by Kobojunkie: 9:23pm On Jun 04, 2009

George_D:

Like all political appointees, they start very well. Saying the right words, dancing to the gallery
but at the end, they go down in a whimper. All huff and puff with nothing concrete to show for
it. I hope Sanusi doesn't go down this road. I just hope he turns out different for the sake of Nigeria.

Bingo!

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by strangleyo: 10:31pm On Jun 04, 2009

Kobojunkie:

Excellent slam!!!

Tell em!!

Preach it!!

Great!

Abi ooO!!!

Common sense!!

Ofcourse!

I think agree on the most with the above! Now, we can only hope he does his job and do it right.

I agree, but he' not a politician.

He is a CBN governor, most of what he has mentioned he has no direct power over.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by Nobody: 10:36pm On Jun 04, 2009

I will really like to see what the relationship between Sanusi and the duo of Shamsudeen Usman / Tanimu Kurfi will be

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by Kobojunkie: 10:42pm On Jun 04, 2009

strangleyo:

I agree, but he' not a politician.

He is a CBN governor, most of what he has mentioned he has no direct power over.

I know that. I mean the article is clear on the fact that he is not anywhere stating He is the one to make all that happen. I believe most of it is directed at our politicians and the people behind the so called 7 point agenda. However, I believe if he does his job well, then he would probably not end up another hypocrite in power.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by GeorgeD1(m): 11:14pm On Jun 04, 2009

Yes, another hypocrite in power-and they're so many these days!

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by adigun101: 11:25pm On Jun 04, 2009

hi biina and @kobojunkie I still need this guys resume . I don't seem to find his resume on firstbank website or even cbn website. Can someone please provide me with his resume (something like I detailed Soludos) as I need to start selling him to colleagues who are still sceptical.

NB: Pls omit the sharia thing ! grin

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by biina: 11:55pm On Jun 04, 2009

adigun101:

hi biina and @kobojunkie I still need this guys resume . I don't seem to find his resume on firstbank website or even cbn website. Can someone please provide me with his resume (something like I detailed Soludos) as I need to start selling him to colleagues who are still sceptical.

NB: Pls omit the sharia thing !

http://www.firstbanknigeria.com/aboutfbn/profile/bdm_lamidosanusi.asp

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by Affalatus: 7:54am On Jun 05, 2009

adigun101:

I really hope it is not a mistake. But my point is that this nation can do much better. We have the potentials in human resources but we always manage to undermine ourselves. Nigeria has 29 banks with 29 MDs/CEOs this guy has been there for just 6 months and that justifies his being CBN governor over Soludo.
i don't understand how we reason in Nigeria. This just has politics at all costs written all over it.
The man was drawing programmes to make Nigeria more economically viable throught its financial sector. And people are talking about risk management as if that is our biggest problem now. This is shocking. Nigeria was well set up to be sub sahara's financial hub and we could already see this taking place.
All that cut short because of politics and people on this thread are trying to justify this !
Well I sign out this thread for good.
No be my papa get naija !

@ Adigun because of Nigerians like you i will not forgive nor will i forget Soludo's Sins. I will expose all his crimes from 2004 to 2009.
You will run and hide your face. Adigun 101 shame will overtake you on behalf of Soludo from Deceit to Murder. You will hear facts and then as you kneel at the feet of your soludo a man you know not yet asking why. I will remind you of your text on this thread.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by adigun101: 10:46am On Jun 05, 2009

Affalatus:

@ Adigun because of Nigerians like you i will not forgive nor will i forget Soludo's Sins. I will expose all his crimes from 2004 to 2009.
You will run and hide your face. Adigun 101 shame will overtake you on behalf of Soludo from Deceit to Murder. You will hear facts and then as you kneel at the feet of your soludo a man you know not yet asking why. I will remind you of your text on this thread.

I don't give in to cheap blackmail. I see people like you as distractors. Do you think everyone engages in petty politics ? One day you less educated, myopic, backward individuals in all sectors and levels of our society will give way to the more intelligent and broader minded, progressives. Only then will this country make progress.
Right now I am tempted to list the PETTY issues you have against this individual. But on second thought I won't because that will be stooping to your level.
All over the UK and in the US I have met distiguished Nigerians well respected in proffessional circles in europe and America.Contributing a whole lot to the progression of these already developed nations. But I know that these individuals in Nigeria will be seen as unqualified and unsuitable for positions in Nigeria using some petty backward calculations.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by Kobojunkie: 11:49am On Jun 05, 2009

Just for the sake of it, have you ever really taken time to review the resumes of most of those you have as politicians in Nigeria?@Adigun101. A large number of them were once Nigerians abroad, so please, let us not assume that Nigerians abroad are the key to development in Nigeria here. I say this because right from this because only recently some of the Nigerians here moved back to take up leadership positions back in Nigeria, and so far, it seems it is business as usual down there, but I hope there is change to come from the recent movers.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by GeorgeD1(m): 1:24pm On Jun 05, 2009

Being abroad is not an added avantage when it comes to being able to
deliver on the job.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by Affalatus: 5:12pm On Jun 06, 2009

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by biina: 5:42pm On Jun 06, 2009

George_D:

Being abroad is not an added avantage when it comes to being able to
deliver on the job.

Tell that to the average Nigerian, who blindly believes that anything 'imported' is superior to that which is available locally.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by GeorgeD1(m): 6:57pm On Jun 06, 2009

Abi o! No wonder our politicians keep jetting out at every slight opportunity
ostensibly to 'to see how things are being done' over there. They come back
and continue with their old thieving ways.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by Remii(m): 9:59pm On Jun 06, 2009

adigun101:

hi biina and @kobojunkie I still need this guys resume . I don't seem to find his resume on firstbank website or even cbn website. Can someone please provide me with his resume (something like I detailed Soludos) as I need to start selling him to colleagues who are still sceptical.

NB: Pls omit the sharia thing !

Adigun101: For your information, Islamic Banking system has not been affected with the current global reccession and your so called Western world are considering it as a possible way out of avoiding future recession. So mind your language and do not allow your religious bigotry to blind your eyes from facts. One would just hope that your comments and contributions have not been based on Soludo is Christian and Sanusi is Muslim.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by adigun101: 2:49am On Jun 07, 2009

Affalatus:

Adigun101: For your information, Islamic Banking system has not been affected with the current global reccession and your so called Western world are considering it as a possible way out of avoiding future recession. So mind your language and do not allow your religious bigotry to blind your eyes from facts. One would just hope that your comments and contributions have not been based on Soludo is Christian and Sanusi is Muslim.

Absolutely not. Im not that petty. Just that I do not believe that the sharia thing is relevant. I saw it as absurd that it always kept being mentioned along side the guys qualification. (as the only first class and foreign degree he had)
I also noticed that this was due to fact that the resume is relatively lightweight so it was being padded up with an irrelevant qualification. Next they might add that he has a black belt in Karate.
Whether he is Muslim or not, the guy doesn't have as much a pedigree to run the CBN and steer the Nigerian economy as much as his predecessor.
This guy has been the best CBN governor you've ever had . Take it or leave. His shoes are too large for this lightweight to fill. The performance of our financial sector (the only shinning light in our economy attests to that)
With Islamic banking and global recession, I wont even bother to comment on that. Other readers will just have to make up their minds on your level of intelligence.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by adigun101: 2:57am On Jun 07, 2009

biina:

http://www.firstbanknigeria.com/aboutfbn/profile/bdm_lamidosanusi.asp

@biina I really would prefer you inserted quote from the summary of Soludos resume I posted earlier and the copy and paste Sanusi's alongside . This will ensure that everyone can compare and contrast at a glance. People would then judge if Nigeria just made advances or have gone backwards.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by adigun101: 3:08am On Jun 07, 2009

Kobojunkie:

Just for the sake of it, have you ever really taken time to review the resumes of most of those you have as politicians in Nigeria?@Adigun101. A large number of them were once Nigerians abroad, so please, let us not assume that Nigerians abroad are the key to development in Nigeria here. I say this because right from this because only recently some of the Nigerians here moved back to take up leadership positions back in Nigeria, and so far, it seems it is business as usual down there, but I hope there is change to come from the recent movers.

I know that people of your kind do not value the importance and relevance of education and hence, not aware that Nigeria's education system is REALLY inferior and not up to standard. Plus you will not understand the importance of industry/professional exposure which can best be attained in developed economies. Just have a look of the educational and professional profiles of all the executives of the biggest Nigerian companies and you will see that they are mostly (90%) foreign trained.
Plus the CBN governor is not and shouldn't be a politician.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by adigun101: 3:12am On Jun 07, 2009

Affalatus:

@ Adigun because of Nigerians like you i will not forgive nor will i forget Soludo's Sins. I will expose all his crimes from 2004 to 2009.
You will run and hide your face. Adigun 101 shame will overtake you on behalf of Soludo from Deceit to Murder. You will hear facts and then as you kneel at the feet of your soludo a man you know not yet asking why. I will remind you of your text on this thread.

We all know his crimes against people like you. I dare you to spit it out ! I know you can't. Shame no go let you.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by Kobojunkie: 3:51am On Jun 07, 2009

adigun101:

I know that people of your kind do not value the importance and relevance of education and hence, not aware that Nigeria's education system is REALLY inferior and not up to standard. Plus you will not understand the importance of industry/professional exposure which can best be attained in developed economies. Just have a look of the educational and professional profiles of all the executives of the biggest Nigerian companies and you will see that they are mostly (90%) foreign trained.
Plus the CBN governor is not and shouldn't be a politician.

I am sure you may think you said a lot there, but believe you me, I have absolutely no clue what you mean. What has Nigerian education system to do with this please?

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by biina: 4:16am On Jun 07, 2009

adigun101:

Absolutely not. Im not that petty. Just that I do not believe that the sharia thing is relevant. I saw it as absurd that it always kept being mentioned along side the guys qualification. (as the only first class and foreign degree he had)
I also noticed that this was due to fact that the resume is relatively lightweight so it was being padded up with an irrelevant qualification. Next they might add that he has a black belt in Karate.
Whether he is Muslim or not, the guy doesn't have as much a pedigree to run the CBN and steer the Nigerian economy as much as his predecessor.
This guy has been the best CBN governor you've ever had . Take it or leave. His shoes are too large for this lightweight to fill. The performance of our financial sector (the only shinning light in our economy attests to that)
With Islamic banking and global recession, I wont even bother to comment on that. Other readers will just have to make up their minds on your level of intelligence.

What has Soludo achieved as CBN governor that warrants him a second term? (Please take your time before responding)

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by adigun101: 4:30am On Jun 07, 2009

biina:

Absolutely not. Im not that petty. Just that I do not believe that the sharia thing is relevant. I saw it as absurd that it always kept being mentioned along side the guys qualification. (as the only first class and foreign degree he had)
I also noticed that this was due to fact that the resume is relatively lightweight so it was being padded up with an irrelevant qualification. Next they might add that he has a black belt in Karate.
Whether he is Muslim or not, the guy doesn't have as much a pedigree to run the CBN and steer the Nigerian economy as much as his predecessor.
This guy has been the best CBN governor you've ever had . Take it or leave. His shoes are too large for this lightweight to fill. The performance of our financial sector (the only shinning light in our economy attests to that)
With Islamic banking and global recession, I wont even bother to comment on that. Other readers will just have to make up their minds on your level of intelligence
What has Soludo achieved as CBN governor that warrants him a second term? (Please take your time before responding)

I don't have to spell it out for you.(Consolidation)
Nigerian Mint (remember!)
Electronic Banking reforms.(Efficient Banking)

For his efforts in firming up the financial environment, Soludo received several accolades from both local and international organizations. At the 2005 Annual Meetings of the International Monetary Fund/World Bank in Washington DC, the publishers of the Annual Meetings Daily and African Economy Magazine awarded him “The Global Central Bank Governor of the Year, 2006” , citing the result of his financial sector reforms as unprecedented anywhere within such a short period of time.

What more do you need.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by adigun101: 4:36am On Jun 07, 2009

Kobojunkie:

I am sure you may think you said a lot there, but believe you me, I have absolutely no clue what you mean. What has Nigerian education system to do with this please?

Kobojunkie:

Just for the sake of it, have you ever really taken time to review the resumes of most of those you have as politicians in Nigeria?@Adigun101. A large number of them were once Nigerians abroad, so please, let us not assume that Nigerians abroad are the key to development in Nigeria here. I say this because right from this because only recently some of the Nigerians here moved back to take up leadership positions back in Nigeria, and so far, it seems it is business as usual down there, but I hope there is change to come from the recent movers.

I supposed that comment did not mean Nigerians who went abroad on holidays.
I also supposed that the comment meant foreign tutored Nigerians vs locally tutored ones.

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by Kobojunkie: 4:51am On Jun 07, 2009

adigun101:

All over the UK and in the US I have met distiguished Nigerians well respected in proffessional circles in europe and America.Contributing a whole lot to the progression of these already developed nations. But I know that these individuals in Nigeria will be seen as unqualified and unsuitable for positions in Nigeria using some petty backward calculations.

In response I posted . . .

Just for the sake of it, have you ever really taken time to review the resumes of most of those you have as politicians in Nigeria?@Adigun101. A large number of them were once Nigerians abroad, so please, let us not assume that Nigerians abroad are the key to development in Nigeria here. I say this because right from this because only recently some of the Nigerians here moved back to take up leadership positions back in Nigeria, and so far, it seems it is business as usual down there, but I hope there is change to come from the recent movers.

I have no clue why you decided to interprete it the way you did, or how you could do that. Nowhere did I mention Education or the Nigerian education .

Re: Sanusi Set For CBN- •‘it’s Not Going To Be Business As Usual’ by biina: 5:40am On Jun 07, 2009

adigun101:

I don't have to spell it out for you.(Consolidation)
Nigerian Mint (remember!)
Electronic Banking reforms.(Efficient Banking)What more do you need.

I am not interested in your echo of political accolades. As per your list above, I would rather you be specific and provide details.

1. Consolidation: Firstly, Soludo did not consolidate the banks, rather the banks merged in a bid to meet the capitalization requirements. To the achievement itself, please tell me what problem 'consolidation' solved or what positive effect it has directly/indirectly had on the economy.

2. The Nigerian Mint: What aspect of the mint is the responsibility of the CBN and what were the achievements?

3. Electronic Banking Reform: List specific achievements. For example, did he introduce electronic banking? or what were the specific reforms that he enacted that were not evolutionary?

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