We want to find out why they have not been effective as they should be and help them do what they should do. It is not enough to have policy in place but we have to make sure that the institutions are well equipped and have the ability to perform,” he emphasised. Aganga stated that the government wants “to fine-tune the existing strategies. I am not looking at capitalisation yet until I am sure they (the banks) have the ability. It is first a case of assessment before moving to the next step”.

candylips:

another avenue to embezzle

another avenue to embezzle

paddy_lo:

It not an avenue to embezzle because if these GOVT owned institutions are not well capitalized they cannot perform their functions well
and help u or me. . . .

so its to be lauded if it ever gets done

For example u cannot expect the Federal Mortgage bank of Nigeria,to give u a cheap loan/mortgage to buy a house today
If its capitalisation is very low. . .
If its recapitalized to the tune of say N25billion. . then it can originate more loans to Nigerians

same with other Institutions listed

it's not only about their capitalization its also about the efficiency, they are bloody waste pipes, they have been in existence for soo long serving one a few people in the civil service hierarchy and some so called industrialist/farmers
who take the money without repaying

Govt should shake these institution and bring in people from the private sector experience, hopefully they will lend at a cheaper rate than the private banks

Those old money bags supporting local politicians will be quaking in their boots up town kano

The GOVT will still have a controlling share and influence the flow of credit to whatever industries it wants

controlling share and influence

i thought you are a CAPITALIST,
what is govt doing

?
the mind boggle.

In Nigeria we already have 24 different banks and thousands of micro finance banks in operation

so its no problem if GOVT wants to own a piece of these institutions to direct policy

fine Mr. paddy-lo, go and investigate properly why marriage btw  VIRGIN/NIGERIA AIRWAYS COLLAPSED.
thank you

question, how effective are the institutions on ground to move the country fwd,
thousands of micro finance we were told then  are well capable of effecting grass root economic push, i.e as witnessed in India and others.
if the one on ground are not working , so we need more?

you are on point with some of your details,
but i find it uncomfortable at times when you present yourself as the only purveyor and doyen of wisdom

paddy_lo:

[size=14pt]“We are looking at carrying out a comprehensive audit of these banks so that they can play their roles effectively in the economy. If financial audits were conducted in commercial banks and those found wanting were asked to go why not the ones the government has direct control over? In fact, people who have caused these government-owned financial institutions to fail need to be in jail”[/size], Aganga said. “They have lost their roles in the past and we want to ensure that they are properly restructured to help the economic growth of the nation,” the minister said.

It not an avenue to embezzle because if these GOVT owned institutions are not well capitalized they cannot perform their functions well
and help u or me. . . .

so its to be lauded if it ever gets done

For example u cannot expect the Federal Mortgage bank of Nigeria,to give u a cheap loan/mortgage to buy a house today
If its capitalisation is very low. . .
If its recapitalized to the tune of say N25billion. . then it can originate more loans to Nigerians

same with other Institutions listed

I find your blanket support for every GEJ policy very fishy. HOw much dem dey pay you?

I swear they dont pay me nada. . lol wish they did though(cause it could be hard out here for a p.i.m.p. . . )

However i just want stability for Naija,stability in policies,reforms,Politics. .

U dont know how important stability is to economic growth. .

If GJ stays on beyond 2011. . it will signal good things to the international Investors

More importantly there will be no fear of policy summer saults

I mean this same Finance Minister will be there for maybe 3yrs and follow his programs to the logical conclusion
set up the sovereign wealth fund and so on

Besides i support the Lagos state Governor enthusiastically. . .PDP and AC dont mix

I swear they dont pay me nada. . lol wish they did though(cause it could be hard out here for a p.i.m.p. . . )

However i just want stability for Naija,stability in policies,reforms,Politics. .

U dont know how important stability is to economic growth. .

If GJ stays on beyond 2011. . it will signal good things to the international Investors

More importantly there will be no fear of policy summer saults

I mean this same Finance Minister will be there for maybe 3yrs and follow his programs to the logical conclusion
set up the sovereign wealth fund and so on

Besides i support the Lagos state Governor enthusiastically. . .PDP and AC dont mix

Your position is good in theory. It assumes that GEJ is unlike other politicians and has the best interest of Nigerians at heart. The problem is that GEJ has not done anything to give us a reason to give him the benefit of the doubt. It seems you are acting on faith. In terms of raw facts, GEJ is not a significant departure from OBJ or Yaradua in terms of is approach to politics and what can be inferred as his disposition to the citizenry i.e. many politicians do not see citizens as the repositories of political power. Except you know something we all do not know, I will say your optimism about GEJ is rather unfounded. Is there some insight you have that informs your disposition? Or have been consulting in the tradition