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Sanusi In Tears; Says Reforms Are Not A Northern Agenda! - Politics (4) - Nairaland

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Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by mamagee3(f): 10:21pm On May 15, 2010
Sanusi is simply the biggest Clown in Nigeria's history.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by Nobody: 10:22pm On May 15, 2010
naijaking - wey d pic na cheesy cheesy cheesy
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by paddylo1(m): 10:23pm On May 15, 2010
And how have his actions affected the economy?

Please list the actions and the attendant effects!

ol boy that one na long thing. . . .

Every Nigerian knows the negative effect of sanusis so called reforms. . .

From unemployment,to Credit crunch,to Flight to safety by banks,no one is taking risks anymore

There is something called a negative feedback loop,and Nigerias economy is currently stuck in it

we need to break it and get back to credit creation,risk taking,and the willingness of banks to actually grow their loan books
instead of buying FGN bonds and hoarding cash. . .which will ultimately lead to employment

hopefully we will get there soon but this dude(Sanusi) needs to shut up and stay in the background
no more speeches no more crying,just get the job done without rattling the markets
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by Ibime(m): 10:38pm On May 15, 2010
paddy_lo:

ol boy that one na long thing. . . .

Every Nigerian knows the negative effect of sanusis so called reforms. . .

From unemployment,to Credit crunch,to Flight to safety by banks,no one is taking risks anymore

There is something called a negative feedback loop,and Nigerias economy is currently stuck in it

we need to break it and get back to credit creation,risk taking,and the willingness of banks to actually grow their loan books
instead of buying FGN bonds and hoarding cash. . .which will ultimately lead to employment

hopefully we will get there soon but this dude(Sanusi) needs to shut up and stay in the background
no more speeches no more crying,just get the job done without rattling the markets

This is absolute rubbish. . .


Get back to risk taking?. . . what kind of risk taking? The type that would render them insolvent? He who does not have cannot give. The healthy banks amongst them have declared their intention to expand their loan books by 10-20% this year. This is sustainable, not this inane expectation that the kind of behaviour that led banks to near-insolvency should be repeated, at cost to the taxpayer.

You said yourself that the banks are distressed. We established the fact that the balance sheets are overburdened with bad assets. I can pull up the thread if you wish.  Even Standard Chartered Bank who wanted to buy some of these banks pulled out after examining their balance sheets. If the banks are healthy, money would talk. Since you have foregone all logical reasoning, it is safe to say that your arguments are completely irrational.

This is why I ask you to list the individual actions and their attendant effects, lets see if there is any logic in them.


They said that sacking the CEOS would kill confidence in our markets by advertising to the whole world that we are corrupt. . . yet all analysts see Nigeria as the no 1 emerging market this year, and all foreign investors have upped their Nigerian portfolio. . . . NSE is one of the fastest growing markets YTD.


Now Naijaking and others are telling us that there is no rot in the banks, and that we only repeat what SLS has said. . . . I challenge anyone to go through my posting history on Nairaland and see where Ive written the exact same things being borne out now about the banks. . . some who hadnt anticipated such things are surprised.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by Pk001(m): 10:44pm On May 15, 2010
JaaizTech:

What is wrong with having a masters in Islamic Studies

Sanusi Lamido didn't just come from no where to become the CBN governor:

Sanusi has presented papers at dozens of academic fora on several continents, and many of his papers have been published in academic journals, books and newspapers. ( http://allafrica.com/stories/200912160227.html )


There is nothing wrong with having masters in Islamic studies. But something is completely wrong with having  someone that masters only Islamic studies to be a Central bank governor.

Which Academic  papers did Sanusi present? I challenge you to produce the academic papers he presented apart from the ones naijaking1 mentioned, which had to do with sharia, women and ethnic differences.

The kind of academic papers someone produce completely tells the direction someone is going in his career. Sanusi was heading to be the an Imam or the  risk manager in an Islamic bank. But definitely not CBN governor.

I was really amazed when i read the article naijaking1 posted. How on earth did this guy get into this position?
https://www.nairaland.com/nigeria/topic-446122.0.html
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by paddylo1(m): 11:35pm On May 15, 2010
I was really amazed when i read the article naijaking1 posted. How on earth did this guy get into this position?

let me guess.  . General Incompetence by Yar adua and his ilk
Dont forget this same Yaradua almost named his inlaw isa Yuguda as CBN Governor
but backed down due to outcry

I understand political appointments going to cronies,but not critical aspects of an economy like Finance Ministry and CBN
Thats why till today i doff my hat for OBJ
He sought the best ppl for the job in Okonjo -iweala and soludo(both igbo ppl)

Meanwhile Yaradua gave it to hausa fulani ppl. . .
when some of these ppl agitate that a northerner should be in position,Nobody is thinking about doing the job itself
they are just looking for a way to get contract,because their man is there
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by davidif: 12:11am On May 16, 2010

How come he has no written papers on Economics,but only politics and religion?

Paddy lo,
God bless you jare, how many papers have sanusi ever written on economics? Bernanke has written several and he was considered a genius at Princeton as for Sanusi, i have never read anything about him.

Its unbelievable that we don't have a solid vetting process fro political appointees in the Nigerian govt. it seems that anybody can get any position, at times, it seems that our people don't know what due dilligence is, they only like paying lip service to it. How can we have a man in poweful position WHO IS SOOOOOO SEXIST AND WHO IS A TRIBALIST? omo, nawa o.

upbendel,
Sanusi went to Ahmadu Bello and not Harvard. By the way, what does having poor roads water, light, schools, hospitals, or even a communication system have to do with being a central banker? The job of the central bank is monetary policy (the supply of money) and not chasing down bank creditors or building roads for that matter.

By the way, its the job of the bank to negotiate terms with there creditors, the central bank should not be running after them asking for a "pound of flesh". What if i borrowed money from Bank A does that mean i should be arrested? I thought that's why most banks lend money on collateral.

You presented two items; one that appeared to support the fact that we do not have a system in place to support the instruments that the other guy had suggested.  The other item you presented clearly contradicted and had no relation to your first argument.

oga, shorting is very easy just borrow a stock from someone that you expect to lose value hold it till it goes down and sell, then pay the guy you borrowed the stock from a commission, simple, even you and i can do it. Also, there is nothing hard about basic hedging, just buy a futures contract or an option on your security or commodity (or basically anything) in case the price collapses, its just like buying insurance on your property.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by UpBendel(m): 12:28am On May 16, 2010
davidif:

Paddy lo,
God bless you jare, how many papers have sanusi ever written on economics? Bernanke has written several and he was considered a genius at Princeton as for Sanusi, i have never read anything about him.

upbendel,
Sanusi went to Ahmadu Bello and not Harvard. By the way, what does having poor roads water, light, schools, hospitals, or even a communication system have to do with being a central banker? The job of the central bank is monetary policy (the supply of money) and not chasing down bank creditors or building roads for that matter.

By the way, its the job of the bank to negotiate terms with there creditors, the central bank should not be running after them asking for a "pound of flesh". What if i borrowed money from Bank A does that mean i should be arrested? I thought that's why most banks lend money on collateral.



Some thread here on Nairaland brought up the issue that a lot of posters simply read other people's posts and start to make comments without really understanding the subject matter. I strongly suggest that you start from the very beginning of this thread and try to figure out the logic behind my comment
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by davidif: 12:36am On May 16, 2010
JaaizTech,
I am still waiting to find the papers that Sanusi has written, please can you forward them to me.


You presented two items; one that appeared to support the fact that we do not have a system in place to support the instruments that the other guy had suggested.  The other item you presented clearly contradicted and had no relation to your first argument.

upbendel,
oga, shorting is very easy just borrow a stock from someone that you expect to lose value hold it till it goes down and sell, then pay the guy you borrowed the stock from a commission, simple, even you and i can do it. Also, there is nothing hard about basic hedging, just buy a futures contract or an option on your security or commodity (or basically anything) in case the price collapses, its just like buying insurance on your property.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by UpBendel(m): 12:41am On May 16, 2010
davidif:

JaaizTech,
I am still waiting to find the papers that Sanusi has written, please can you forward them to me.


upbendel,
oga, shorting is very easy just borrow a stock from someone that you expect to lose value hold it till it goes down and sell, then pay the guy you borrowed the stock from a commission, simple, even you and i can do it. Also, there is nothing hard about basic hedging, just buy a futures contract or an option on your security or commodity (or basically anything) in case the price collapses, its just like buying insurance on your property.



I am totally lost. What are you talking about?? Come to think of it, exactly where in The States do you live
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by naijaking1: 12:59am On May 16, 2010
JaaizTech:

What is wrong with having a masters in Islamic Studies I don't think you would consider your pastor a "dumb Brain" if He decides to bag a masters in theology. Learn to look at issues objectively.

My brother, a pastor who has a first degree in economic from ABU, and then went to Jerusalem for his master in christian religious studies in NOT qualifies to head our CBN, just like Sanusi.


Sanusi Lamido didn't just come from no where to become the CBN governor:
In 1985 Sanusi joined Icon Limited (Merchant Bankers), a subsidiary of Morgan Guaranty Trust Bank of New York, and Baring Brothers of London. He moved to the United Bank for Africa in 1997 in the Credit and Risk Management Division, rising to the position of a General Manager. In September 2005, he joined the Board of First Bank of Nigeria as an Executive Director in charge of Risk and Management Control, and was appointed Group Managing Director (CEO) in January 2009. He was also the Chairman, Kakawa Discount House and sat on the Board of FBN Bank (UK) Limited. Sanusi is recognized in the banking industry for his contribution towards developing a Risk Management culture in the Nigerian banking sector. (http://en.wikipedia.org/wiki/Sanusi_Lamido_Sanusi )

Information in wiki. is open sourced, the public do make editions, and coupled with the CBN website account of Sanusi---- it simply leaves more questions than answers about his qualification and suitability for this office. Please read the link I posted above, you will understand that if CBN had been Yar'dua's private company, he probably wouldn't have hired Sanusi for the position, but because CBN is a government position, and we have a history of not understanding that we're infact the goverment in this country, it's not surprising that the late Yar'dua had been pressured by people like the senior Mutallab of FBN to make the position go north, and to the wrongest person. Even HND holders in economics work hard and improve their professional qualifications by studying and passing such exams as AIB, curiously, I don't see any indication that mallam ever bothered to study beyond his Islamic studies program at Khartoum, yet he's saddled our large and complex financial system

Sanusi has presented papers at dozens of academic fora on several continents, and many of his papers have been published in academic journals, books and newspapers. ( http://allafrica.com/stories/200912160227.html )
When you show the World a professionally researched, written, and presented article in economics, finance, or banking in any major professional journal, then you'll be talking.

If not for bias for the North or hatred for the North; I do not see any reason why any sensible person would be blaming Sanusi for his reforms!. What has He done Sanusi came and kicked out the MDs of some banks that have been found wanting in their managerial role. They embezzled and mismanaged depositor's and ordinary investor's money (not different from what the common thief does).
Easy, easy now, don't mix up facts with Sanusi's delusions.

Secondly; Sanusi injected funds into these banks that were in a financial mess; it is also worthy to recall; that before Sanusi came onboard it was already published in the Africa report that some Nigerian banks are weak; but Soludo of course lied to us and denied it. What happened in the banking industry is an indication that the system was in a bad mess before Sanusi came but they were shielding it from us; had Sanusi not intervened at the time He did; perhaps the system would have suddenly collapsed and depositors would have been the biggest losers.
Sanusi injected unneeded funds into these banks as an excuse to take them over, not because they were going to fail the next day. "Soludo lied, he covered up corruption, he mingled with the bad CEOs too much" 'The banks situation was a mess, and angel Sanusi came in on time to clean it up'--- have been Sanusi's national anthem, but why don't we set up a panel of professional expert bankers, economist, and financial experts to look into the whole scenerio. I'm simply tired of hearing this one sided lines from Sanusi and his walking echo chambers on N/L
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by blank(f): 1:06am On May 16, 2010
Sorry for the diversion, WHERE IS THE PIC OF THE GUY CRYING? I have gone thru the whole thread looking for it. If u get am, post am.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by UpBendel(m): 1:15am On May 16, 2010
naijaking1:

My brother, a pastor who has a first degree in economic from ABU, and then went to Jerusalem for his master in christian religious studies in NOT qualifies to head our CBN, just like Sanusi.

Information in wiki. is open sourced, the public do make editions, and coupled with the CBN website account of Sanusi---- it simply leaves more questions than answers about his qualification and suitability for this office. Please read the link I posted above, you will understand that if CBN had been Yar'dua's private company, he probably wouldn't have hired Sanusi for the position, but because CBN is a government position, and we have a history of not understanding that we're infact the goverment in this country, it's not surprising that the late Yar'dua had been pressured by people like the senior Mutallab of FBN to make the position go north, and to the wrongest person. Even HND holders in economics work hard and improve their professional qualifications by studying and passing such exams as AIB, curiously, I don't see any indication that mallam ever bothered to study beyond his Islamic studies program at Khartoum, yet he's saddled our large and complex financial systemWhen you show the World a professionally researched, written, and presented article in economics, finance, or banking in any major professional journal, then you'll be talking.Easy, easy now, don't mix up facts with Sanusi's delusions.Sanusi injected unneeded funds into these banks as an excuse to take them over, not because they were going to fail the next day. "Soludo lied, he covered up corruption, he mingled with the bad CEOs too much" 'The banks situation was a mess, and angel Sanusi came in on time to clean it up'--- have been Sanusi's national anthem, but why don't we set up a panel of professional expert bankers, economist, and financial experts to look into the whole scenerio. I'm simply tired of hearing this one sided lines from Sanusi and his walking echo chambers on N/L

When you have a solid argument as to how this relates to all the missing monies, how they have contributed to society, and how these people acquired their wealth please let me know.  You have not been able to corroborate your evidence and those that you have managed to mysteriously provide do not lend credence or support to anything you are saying

With all the qualifications, papers, and lectures that Alan Greenspan has under his belt, he admitted that his actions or lack thereof in regulating the mortgage industry was one of the catalysts for collapse of the sub-prime mortgage industry and the current recession we all find ourselves in.  Millions have been ruined, jobs and homes lost, and there does not seem to be an end in sight.  You don't see or hear anyone complaining or calling into question his pedigree or moral persuasion.  One Nigerian simply calls out a bunch of thieving bank managers and the best you can come up with is "where are his papers on economics", and "what are his qualifications"?
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by davidif: 1:30am On May 16, 2010
With all the qualifications, papers, and lectures that Alan Greenspan has under his belt, he admitted that his actions or lack thereof in regulating the mortgage industry was one of the catalysts for collapse of the sub-prime mortgage industry and the current recession we all find ourselves in. Millions have been ruined, jobs and homes lost, and there does not seem to be an end in sight. You don't see or hear anyone complaining or calling into question his pedigree or moral persuasion.

What the heck?? You are comparing apples with oranges. The American economy is a lottttttt more complex than the Nigerian one. Sanusi cannot even become a professor at my school talkless of being the chairman of the fed (yanki's central bank) over here.

I am totally lost. What are you talking about?? Come to think of it, exactly where in The States do you live
What does my location in the US have to do with what i am talking about? You said in your quote "that we do not have a system in place to support the instruments that the other guy had suggested." and i am giving you just rudimentary explainations of those instruments to you and you seem not to know what they mean abi do you want me to be ranting on an on about finance (to be honest finance too boring sef grin).

Omo, he be like say i go come naija come start my hedge fund very soon self because it seems that there is not much financial literacy in naija. I would be a big fish in a small pond. grin
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by UpBendel(m): 1:40am On May 16, 2010
davidif:

What the heck?? You are comparing apples with oranges. The American economy is a lottttttt more complex than the Nigerian one. Sanusi cannot even become a professor at my school talkless of being the chairman of the fed (yanki's central bank) over here.
What does my location in the US have to do with what i am talking about? You said in your quote "that we do not have a system in place to support the instruments that the other guy had suggested." and i am giving you just rudimentary explainations of those instruments to you and you seem not to know what they mean abi do you want me to be ranting on an on about finance (to be honest finance too boring sef grin).

Omo, he be like say i go come naija come start my hedge fund very soon self because it seems that there is not much financial literacy in naija. I would be a big fish in a small pond. grin

My guy

The last thing I need is re-education on the various financial instruments and their uses. You simply do not have a point. As far as your final comment is concerned I will just not bother asking for further explanation
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by PapaBrowne(m): 2:36am On May 16, 2010
Me sef:

Let me make my point about Sanusi's failures by using this analogy: [b]After carrying out a series of test on a patient, a Neurosurgeon founds out that the problem is that some foreign substances are mingling with the brain and causing some troubles that may likely get aggravated if not corrected. He sets out to carry out a surgery to remove the foreign substance so that the brain can start functioning well. Because he was more concerned with the speed with which he had to carry out the operation, he threw caution to the wind and did not exercise due care in seperating the foreign substances from the brain. He damaged the brain (a delicate and important body organ) in the process even though he succeded in removing the substances. At the end of the operation, he left the patient worse off because the damage to the brain had caused a nervous breakdown to the patient. Then, some friends of the Neurosurgeon came forward to defend him for carrying out the operation saying there was a problem and the only feasible solution was to operate the patient at that time. As tenable as that sounds, the fact remains that the patient is worse off after the operation. [/b]

Sanusi is not different from this Neurosurgeon. I really do not blame him, i blame those (maybe Late Yar'adua) who offered the job as technical as that of the CBN Governor to a Sudan-trained Islamic scholar whose only life ambition is to be the Emir of Kano.



naijaking1:

Thank you. My only addition is that Sanusi in this case is not even a qualified neurosurgeon, he couldn't complete the required 8-7 years of residency. Because he was politically appointed a neurosurgeon, he has to make up for his deficiencies by attacking the previous surgeons who left a foreign object in the brain. He actaully went to the patient's family and told them how careless the previous surgeons had been, he took to to the airwaves to denounce carelessness in the surgical profession, and then vowed to correct every anomaly. He took his road show to the politicians in the senate, house of reps, and to everywhere lay people could listen, however he avoided confronting his fellow surgeons, either at professional meeting, or even panels of experts. While he performed his road show, surgeons in other countries couldn't believe their eyes, while fellow Nigerian surgeons who are not already in jail, simply waited, because they know that foreign body in the brain could be a clip purposely left in place to stop a bleeding aneurysm.


Perfect analogies! The best I've seen on Nairaland! They give a fair picture on Sanusi's actions on the Banking industry!
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by naijaking1: 2:38am On May 16, 2010
blank:

Sorry for the diversion, WHERE IS THE PIC OF THE GUY CRYING? I have gone thru the whole thread looking for it. If u get am, post am.

What's the logic here?
Does 'not having a picture of him crying and shedding tears' prove that he didn't shed tears?
You can challenge the author's accurate description of events, you can provide counter claims of witnesses, but stop asking for the picture as if to say the story is false, because you have no picture to show for it.

For people who pretty much believe everything said about bank CEOs, shareholders, and poor workers, I find it sad to note that they never showed us pictures of Cecelia Ibru cooking bank books, or Akingbola converting customers deposits to his personal use, yet people like you believe the story as told. So much so that many have come here to recite the same lines of falsehood used without any proof.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by naijaking1: 2:51am On May 16, 2010
UpBendel:

With all the qualifications, papers, and lectures that Alan Greenspan has under his belt, he admitted that his actions or lack thereof in regulating the mortgage industry was one of the catalysts for collapse of the sub-prime mortgage industry and the current recession we all find ourselves in. Millions have been ruined, jobs and homes lost, and there does not seem to be an end in sight. You don't see or hear anyone complaining or calling into question his pedigree or moral persuasion. One Nigerian simply calls out a bunch of thieving bank managers and the best you can come up with is "where are his papers on economics", and "what are his qualifications"?

My brother, that one Nigerian calling out "thieving bank CEOs" may turn out to be the real thief. He has already shown himself to be rogue banker.
I beg read this link when you a little time: https://www.nairaland.com/nigeria/topic-446122.0.html
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by PapaBrowne(m): 2:59am On May 16, 2010
Ibime:

Its either you wanna engage in self-delusion, or you want the truth. . . .this is a verifiable lie. . . . many journalists have written on the LCCI conference, and Nkechi was the only one who noticed the CBN Governor crying. . . .CBN cannot concern itself with dispelling the many myths that our journalists print. . . .that would be too noisy. . . . it already is. . . . no Central Bank in the world has to contend with such. . . .

Am not concerned with lies or whatever (which are aplenty), but the recklessness of this lie is ridiculous. . . . we are talking about an institution of severe national importance here. . . . this is why I always go to businessdayonline to get my financial info, not these National Enquirer wannabes. . . . needless to say, if the CBN Governor suffers a breakdown in public, his position is no longer tenable. . . . .

The two phrases bolded in red and the one in green are quite contradictory, Don't you think so?

If the article is false, then the CBN surely does have a responsibilty to deny the statement especially given the points you have noted; that (1) the CBN is an institution of severe national importance and  (2)breaking down in public makes his position no longer tenable. . . .
I have waited for a denial of this article. . . . it hasn't come. . . . so it stands as a solemn fact that the CBN Governor broke down in public!!



@Ibime. . . I think you are too smart to keep holding up your argument for Sanusi! I'm 100% sure that you have lost confidence in him as he hasn't done anything positive in one year as CBN Governor to warrant your continued support. But pride would not let you switch sides. I understand!
The results from his actions are so negative that he is now blaming it on poor infrastructure.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by naijaking1: 3:25am On May 16, 2010
I don't even know the import of his shedding tears, blood, or bilirubin, but I do know that the guys actions are totally unplanned, self-contradictory, and destructive to our economy. Hopefully, the Min. of finance will insist on a blue print of his reforms or catastrophy. Meanwhile the mallam continues his road shows, because he has no capacity for introspection.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by mojojojo(m): 4:33am On May 16, 2010
Sanusi is a national hero. Please be intelligent and do not allow a section of the media to control your views.
Nigeria is not an island. The whole world is in economic recession why is Nigeria any different. Sanusi's reforms did not usher in the recession they only exposed it. So if you are angry that your friend got fired from a bank, or that banks are not lending, or auntie Cecelia is locked away blame the entire world economy.
Here in the UK the banks are going through exactly the same thing as in Nigeria. They do not want to lend, they have fired many of their staff, most of them have merged and are mostly owned by government. And remember there is no Sanusi in the UK.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by Ibime(m): 4:36am On May 16, 2010
PapaBrowne:

The two phrases bolded in red and the one in green are quite contradictory, Don't you think so?

If the article is false, then the CBN surely does have a responsibilty to deny the statement especially given the points you have noted; that (1) the CBN is an institution of severe national importance and  (2)breaking down in public makes his position no longer tenable. . . .
I have waited for a denial of this article. . . . it hasn't come. . . . so it stands as a solemn fact that the CBN Governor broke down in public!!

Any CBN Governor who breaks down in public makes his position untenable. . . . if he really did break down in public, it would be a matter of SEVERE NATIONAL IMPORTANCE which would be carried and debated on by all members of the press and media outlets. . . . . I provide other articles covering the same conference:


http://www.nigeriannewsservice.com/index.php/Your-Naira/CBN-won%E2%80%99t-sell-banks-says-Sanusi.html

http://allafrica.com/stories/201005130829.html

http://www.enownow.com/news/story.php?sno=6020

http://www.ngrguardiannews.com/news/article04/140510?pdate=140510&ptitle=Inflation%20rate%20dropps%20to%208.3%20%,%20says%20CBN


I wonder why only Nkechi of CompassNewspapers saw that the Governor was crying. . .there are several cameras at such conferences, and if Mallam Sanusi was crying, the pictures would make the front page tomorrow. . . . I know Nigerian journalists have thrown journalistic integrity out of the window, but this is ridiculous!!!!




PapaBrowne:

@Ibime. . . I think you are too smart to keep holding up your argument for Sanusi! I'm 100% sure that you have lost confidence in him as he hasn't done anything positive in one year as CBN Governor to warrant your continued support. But pride would not let you switch sides. I understand!
The results from his actions are so negative that he is now blaming it on poor infrastructure.

I guess Okonjo-Iweala is also speaking out of pride when backing the CBN reforms completely. . . . or perhaps she is chasing a Bretton-Woods agenda.  tongue I guess all the analysts and foreign observers who have never written the nonsense that you guys in Nigeria take as facts are also speaking from pride? Dont think that flooding us with half-baked articles from Nigerian tabloids proves that SLS is responsible for any perceived slowdown.


I am used to certain protocols when dealing with Financial matters. . . . you on the other hand have jumped from one agenda to another. . . I remember you telling us that the reports of stress in InterContinental Bank early last year was a plot against Redeemed Christian Church of God. . . . . next thing, it was plot by Saraki, using Lai Alabi as proxy. . . . then its Northern Agenda. . . . I think you were the one who even told us that you have data that lending has declined by 80%. . . I think if anyone should be questioned for exhibiting paucity of logical reasoning, it shouldnt be me.

You have not addressed any of the key financial issues to do with the banks. I guess SLS is responsible for giving out bad loans and accounting wizardry that was able to hide N2trn worth of toxic assets as verified by Independent auditors. I guess Standard Chartered Bank and Rand Merchant Bank must have been seeing phantom holes in the balance sheets of the troubled banks, hence their decision not to buy. Still you believe it is all down to SLS shebi?

You lot said that his sacking of CEOS would shatter confidence in the banking sector, yet the NSE (and particularly the banking sector) is riding high on the confidence that accountability and regulation is tighter in Nigeria.

SLS has performed commendably in addressing key issues in our banking system, especially in the area of regulatory oversight. . . You can pick any other EI such as Inflation, Naira-Inflation, Interest Rates etc and come back and tell me that SLS has not done anything positive.


If you believe SLS has not done anything positive, thats your prerogative. . . just know that the outright falsehoods about CBN reforms only hold credence in your Banana Republic tabloids. . . .just dont make a mockery of your education by ratifying such articles at the expense of analyst reports and more credible news agencies such as Businessday. . . as for me, I cannot throw away my commonsense and sophistication to the whims of paid hacks and ethnic jingoists.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by estatemark(m): 6:14am On May 16, 2010
I personally do not see anything bad in wealth redistribution if only it will eventually lead to job creation through investment. If Mr A buy at N10 and sells @ N40 thereby making a profit ( reward for risk) of N30, this is wealth redistribution which is the basis for the wealth Nations, Now if this profit is invested in such as will create more jobs, then wealth has been created. My question is : what is wrong here or I am missing, ordinarily this is good for any economy
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by TEEZERO(m): 6:30am On May 16, 2010
This thread is a disservice to reasoning.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by davidif: 6:33am On May 16, 2010
estatemark:

I personally do not see anything bad in wealth redistribution if only it will eventually lead to job creation through investment. If Mr A buy at N10 and sells @ N40 thereby making a profit ( reward for risk) of N30, this is wealth redistribution which is the basis for the wealth Nations, Now if this profit is invested in such as will create more jobs, then wealth has been created. My question is : what is wrong here or I am missing, ordinarily this is good for any economy

shocked shocked shocked omo do you want to go down the slippery slope of socialism?? I don't think so o.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by JaaizTech: 6:35am On May 16, 2010
naijaking1:

My brother, that one Nigerian calling out "thieving bank CEOs" may turn out to be the real thief. He has already shown himself to be rogue banker.
Honestly, that is the part I don't understand!. Our threshold for corruption is too high in this country. Ok to all those Anti-Sanusi Lamido posters. Please tell us what other better approach Sanusi should have taken. PLs. educate us. Just for the records Sanusi Lamido has a Masters degree in Economics with years of experience at top management level in some of the Biggest banks in the Country.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by Ibime(m): 6:36am On May 16, 2010
TEE ZERO:

This thread is a disservice to reasoning.

How do you expect people whose ethnic fears have been stoked to reason logically? . . . all of a sudden, you would have so-called educated people buying all sorts of tabloid trash and ignoring industry analysis reports cos it doesnt conform to their fears.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by JaaizTech: 6:47am On May 16, 2010
PapaBrowne:

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Perfect analogies! The best I've seen on Nairaland! They give a fair picture on Sanusi's actions on the Banking industry!

Lets face the crunch of the matter if you were the CBN Governor what would you have done Lets see what other better options Sanusi had. No need to malign Sanusi just come up with a better approach.
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by naijaking1: 6:55am On May 16, 2010
JaaizTech:

Honestly, that is the part I don't understand!. Our threshold for corruption is too high in this country. Ok to all those Anti-Sanusi Lamido posters. Please tell us what other better approach Sanusi should have taken. PLs. educate us. Just for the records Sanusi Lamido has a Masters degree in Economics with years of experience at top management level in some of the Biggest banks in the Country.

Please, please, please don't lie.
Sanusi took some masters level classes, he never completed a master in economics. The question is with all his money and royalty, why didn't he even complete those courses, did he fail?
What university gave him a masters in economics?
Once again, refresh your mind: https://www.nairaland.com/nigeria/topic-446122.0.html
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by JaaizTech: 7:01am On May 16, 2010
naijaking1:

Please, please, please don't lie.
Sanusi took some masters level classes, he never completed a master in economics. The question is with all his money and royalty, why didn't he even complete those courses, did he fail?
What university gave him a masters in economics?
Once again, refresh your mind: https://www.nairaland.com/nigeria/topic-446122.0.html
I do not see any concrete proof to back your allegations. Anyways we have moved away from that. Forget about the personality Sanusi; lets look at his reforms which are actually the Crunch of the Matter. Pls tell us what should He have done Instead
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by paddylo1(m): 7:08am On May 16, 2010
Just for the records Sanusi Lamido has a Masters degree in Economics with years of experience at top management level in some of the Biggest banks in the Country.
pls Sanusi has no masters in economics. . . .He has masters in Islamic studies. . .unless Islamic studies is now equal to economics in Nigeria
Re: Sanusi In Tears; Says Reforms Are Not A Northern Agenda! by JaaizTech: 7:13am On May 16, 2010
paddy_lo:

pls Sanusi has no masters in economics. . . .He has masters in Islamic studies. . .unless Islamic studies is now equal to economics in Nigeria
I picked it from Wikipedia (http://en.wikipedia.org/wiki/Sanusi_Lamido_Sanusi#Birth_and_education ). I really don't want to dwell on his Educational qualifications; like I said earlier. The Crunch of the Matter is his reforms. Lets face the crunch of the matter if you were the CBN Governor what would you have done Lets see what other better options Sanusi had. No need to malign Sanusi just come up with a better approach.You may use part of this as background study:


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