Xfactoria makes a very valid point

Guy, truth is all the progressives you mention don't have the kind of money to dole around like the "bados"!


However, we the masses need to play a key role. Whislt we would like to see the progressive come together, how many of US on here are prepared to work with them to implement this change? We need to be involved as well. How many of us a prepared to give money to the cause, and time as well?
These things just dont happen, we need to play our own part

mbulela:

in that sense, he is no different from Atiku and Jonathan.
many of us believe in him,the same way we believe in Ribadu, Falana et al.
The question is why can't they come together and form a team strong enough to dismantle this evil force holding us hostage?
How feasible is it for him to conquer while forming all these cheesy parties that i can't even identify?

forming an opposition dat is strong enof 2 displace the current "bados" won't be a problem but d problem would be d person that will represent d party.if d likes of pat,ribadu form such party,who will step down?

Utomi is brilliant no doubt but wonder why this did not reflect in his job as the chairman and later Vice chairman of Bank PHB when Francis 'the genius' Atuche stole the bank dry. Just my thots tho'.

stormm:

Utomi is brilliant no doubt but wonder why this did not reflect in his job as the chairman and later Vice chairman of Bank PHB when Francis 'the genius' Atuche stole the bank dry. Just my thots tho'.

Thanks for reminding us. No matter the genius in Pat Utomi, he is not infallible. The Bank PHB case says it all!

The corporate governance responsibility of the board of which Pat Utomi was a member was greatly compromised. In the 2 years or so preceding the CBN intervention, Pat Utomi was only absent from the board meeting twice. And during this period, a number of decisions that later plunged the bank into trouble were taking. Most notable among these decisions were the take-over of Spring Bank, the Board of Directors credit approval powers (which Atuche blatantly override most times), inflation of budget figures and cost of purchase of some offhsore banks/subsidiaries (bought at ridiculous prices), insider related loans etc. I used to work in a very strategic department of that bank and I can tell you that sometimes, I wonder what transpires at the board meetings of the bank.

How can Utomi explain or exonerate himself from the mess in Bank PHB? If he didn't know that all the rots in that Bank happened at that time, then he is a failure as a board member. If he knew and didn't do anything, then he is a disappointment. If he knew and didn't do anything for fear of Atuche (Yes, Atuche dictated to the board and was hardly/never cautioned. Who dare do that? Mr. Akin Kekere-Ekun can explain better), then he is a coward. If he knew and could not do anything or had his suggestions sent to the trash can and didn't resign, he is a hypocrite!

The guy - Pat Utomi may be a genius in the classroom or research laboratories and I will presume him one, but he needs to convince me that he is not another Dr. Magnus Kpakol (you know him? former Economic Adviser to OBJ and former NAPEP boss, an academics in the US before his appointment) - all theories and no real achievement. Pat Utomi's pedigree as an administrator is still in doubts. He may need to prove himself more.

@ stormm and X-factoria since you said you work in bank phb, and you are holding pat utomi
responsible for what Francis Atuche did. you also assisted Atuche in stealing because
you know more, about what is happening in the bank, the chairman only takes the information
provided, available to him. for all i know he is a good man with a good heart and mean
well for his country, believe it or he is not corrupt.
utomi 4 president

nvo5:

@ stormm and X-factoria since you said you work in bank phb, and you are holding pat utomi
responsible for what Francis Atuche did. you also assisted Atuche in stealing because
you know more, about what is happening in the bank, the chairman only takes the information
provided, available to him. for all i know he is a good man with a good heart and mean
well for his country, believe it or he is not corrupt.
utomi 4 president

You dumb head! Where did I say that Pat Utomi is corrupt? And how dare you accuse me or Atuche of stealing?Did I not only discuss the rots? Do you understand English at all?

My comments were centered on the maladministration of Bank PHB by a board that includes Pat Utomi. Basically, I was pointing out that Pat Utomi may not be as good an administrator as he is as an academics. Pat Utomi will need to prove me wrong.

Then, to say that a Chairman or members of a board just take whatever information is given to them is naive and smirks of ignorance. What happened to oversight functions expected of the board? Are they meant to be morons just swallowing anything? Then anybody, including your dull head can be in the board of any bank.

Pat Utomi means well but Yar'adua also meant well and was not corrupt (at least to the best of my knowledge) but set us back many years because of his slow nature. It takes more than being nice and kind hearted and being unblemished to make a good President. Pat Utomi has not had any remarkbale boardroom success. He has not matched his theories with physical achievements. If he can be frustrated at board room level in Bank PHB, then how can he manage a complex Nigeria full of mad folks like you and I ?

Finally, nv05, go and get some reading comprehension lessons!

[b]
The corporate governance responsibility of the board of which Pat Utomi was a member was greatly compromised. In the 2 years or so preceding the CBN intervention, Pat Utomi was only absent from the board meeting twice. And during this period, a number of decisions that later plunged the bank into trouble were taking. Most notable among these decisions were the take-over of Spring Bank, the Board of Directors credit approval powers (which Atuche blatantly override most times), inflation of budget figures and cost of purchase of some offhsore banks/subsidiaries (bought at ridiculous prices), insider related loans etc. I used to work in a very strategic department of that bank and I can tell you that sometimes, I wonder what transpires at the board meetings of the bank.

How can Utomi explain or exonerate himself from the mess in Bank PHB? If he didn't know that all the rots in that Bank happened at that time, then he is a failure as a board member. If he knew and didn't do anything, then he is a disappointment. If he knew and didn't do anything for fear of Atuche (Yes, Atuche dictated to the board and was hardly/never cautioned. Who dare do that? Mr. Akin Kekere-Ekun can explain better), then he is a coward. If he knew and could not do anything or had his suggestions sent to the trash can and didn't resign, he is a hypocrite!

The guy - Pat Utomi may be a genius in the classroom or research laboratories and I will presume him one, but he needs to convince me that he is not another Dr. Magnus Kpakol (you know him? former Economic Adviser to OBJ and former NAPEP boss, an academics in the US before his appointment) - all theories and no real achievement. Pat Utomi's pedigree as an administrator is still in doubts. He may need to prove himself more.[table][/table][/b]

@ Xfactoria, Thanks for the lecture and awareness but should I ask you who is the Administrator of Pan African University- LBS? Is the Institution competing well with notable business schools in Africa today? And on bank PHB, why has Sanusi Lamido, a man who has vehemently revealed all the recklessness in the banking industry not nailed Pat Utomi for insider abuse like IBPLC Chairman, and other banks. I work at a top level in Risk Mgt in one of those banks and do not understand what you want us to believe that I do not know already. When you guys and Atuche were falsifying records and presenting fake Management Information Reporting, even the International Firm were deceived to invest in your bank equity believing it was a sign of healthiness. Tell me which Bank was properly managed? Check their books and see the amount of provision figures for that year of locust.

Please be schooled in politics. Utomi cannot be compared in anyway with these crooks. So what is your point? That Jonathan is a better administrator? At least Utomi is better than most of these guys so he deserved the opportunity to serve

[b][

@ Xfactoria, Thanks for the lecture and awareness but should I ask you who is the Administrator of Pan African University- LBS? Is the Institution competing well with notable business schools in Africa today? And on bank PHB, why has Sanusi Lamido, a man who has vehemently revealed all the recklessness in the banking industry not nailed Pat Utomi for insider abuse like IBPLC Chairman, and other banks. I work at a top level in Risk Mgt in one of those banks and do not understand what you want us to believe that I do not know already. When you guys and Atuche were falsifying records and presenting fake Management Information Reporting, even the International Firm were deceived to invest in your bank equity believing it was a sign of healthiness. Tell me which Bank was properly managed? Check their books and see the amount of provision figures for that year of locust.

Please be schooled in politics. Utomi cannot be compared in anyway with these crooks. So what is your point? That Jonathan is a better administrator? At least Utomi is better than most of these guys so he deserved the opportunity to serve

[/b]


Yes SLS did not openly condem Pat Utomi but can you honestly exonerate Pat Utomi from the mess in that Bank?

Guy, there is a whole lot of difference between Pan African University and a bank. You need me to tell you that? And what position does Pat Utomi hold in Pan African University? Don't forget that there are foreigners involved in the running of that school; and it is an academic institution and expectedly, Pat Utomi shoud fit in properly there. The complexity of running a financial institution with the attendant risk is not comparable to a school. Since you claim to be a Risk Mgr, can you properly put in perspective the risk associated with running both organizations?

To tell you which bank is properly managed? Check out GTB and FBN. I can vouch for these banks anyday! Mind you, I've been around for a while.

Please be schooled in politics. Utomi cannot be compared in anyway with these crooks. So what is your point? That Jonathan is a better administrator? At least Utomi is better than most of these guys so he deserved the opportunity to serve

Who has mentioned Jonathan here?? Anyway, if I must compare him with Utomi, Pat Utomi would not score more than Jonathan in my assessment. They both hold PhDs. Pat Utomi has not proven to be a seasoned administrator, so his economics background will be greatly discounted. We don't need anybody to come and bobo us with theories. The rigour of Nigerian politics alone will suffocate Utomi. Jonathan has an egde there. However, Jonathan is not my ideal candidate. In fact, I'm still looking for one.

Pat is an intellectual, and I think he should be given the right place to operate where his skills would be needed. Politics would confound him

@xfactor i agree with your analysis

Pat Utomi is definately intelligent but as a leader I have my reservations. He has stated his piece on VW and somone raised questions on bank PhB.

The issue with Nigerian executives lies around the pegs of the office. Its too good to let go off, so you hang on even when you are being disgrased. Why remain the MD of a company where your opinions are not valued. The option is to resign, we see it every day in the west.

Anyway, he might make a good adviser, but a leader for a country with complications and diversity as Nigeria, Utomi wont cut. He can be part of the "coalition of the willing", but we need stronger progressives to dismantle the "baddos".

I can never be surprised by the attitude of my country men, am sure had Pat Utomi been an American and a professor from London Business School, then when he says all these, then many of those who claim to know more than their brains can EVER imagine would have directed their blame games to our corrupt and inept govt.

how can some one with his senses right still have the gut to Blame a man who has come publicly to tell Nigerians what transpired at the helm of affair. As a student of Economics, I know for sure that the Structural Adjusted programme has been one of the worst if not the worst Economics policy Nigeria has ever adopted let alone when such a policy came barely weeks after he assumed office.

Can any one really mention a Nigerian Technocrat that Nigerians has ever celebrated without someone coming out with our usual PULL HIM DOWN SYNDROME mentality. the likes of Ngozi Okonjo Iweala, Oby Ezekwesily, Wale Soyinka etc are usually celebrated by foreigners but once they come back home some one who could not pass his WAEC without seeking for Expo and special Centres will come to Naira land and claim to be a professor.

How can we still expect our intellectuals to dismantle the current kingdom of our politicians when we who should know better are looking for loop holes to discredit their intellectual sagacity. The save Nigeria Group will soon die yet we expect our great minds to come together and lead the way.

For better understanding Economists only prescribe policies, they cannot enforce them, if indoubt go and ask Obasanjo.

To tell you which bank is properly managed? Check out GTB and FBN. I can vouch for these banks anyday! Mind you, I've been around for a while.

Xfactoria: I was waiting for you to suggest those two banks cos I know that is the traditional comment of not too informed populace we have in the country? Question: please tell us the basis of this statement cos this same bank was grossly affected at least first bank that I know was badly expose to the capital market with over 70% of of their loans being heavily provided for. Is this not same bank whose equity was sold at 33.00 naira per unit at the primary market few years back that is still struggling to maintain 13.00 price per unit? Can you compare first bank gross earnings to their profitabilty and to you tell us the efficiency ratio of that organisation.

Can you compare them with Stanbic IBTC, Standard Chartered result and Citi bank that have consistently maintain an NPL ratio of less than 10%. What happened to bank PHB is no different with investment Crash in the USA, UK and global financial market and this has call for increase in regulatory risk concern and several frameworks are being developed globally to addressed the collapse. Do not see things with one-sided lopsided corporate governance issues that have been explained for the Nigeria Banking crises.

And you gave Jonathan better assessment than Utomi cos they both have PHD? So what institution has Jonathan Managed. Do you even know what it takes to run a business school? Less risky shei? That is all you know about risk- Credit Risk and I am not surprised? Assess Risk globally and you will know Utomi has done well in PAN an it is an evidence that this guy will do well by revitalising our dying campuses under the control of a President who is not bordered with over 60% of his budget going on recurrent expenditure

This is what phucking gets on my goats. Nigerians are never satisfied, I dont get this, we are in a country that has never know good governance for over 50yrs, now a decent good man decides to stick his head out to run, and all we know how to do is run him down, and in the process we leave crooks in-charge, only to complain again after 4yrs of inactivity.

Like I said, the problem is not if Pat is prepared to collaborate with others to form a credible opposition? no the problem is with the average nigerian, who sees nothing good in others, but is prepared to sit by thier computer and critisize those who try, never offering credible options

This is the usual pattern, a candidates name is raised, we tear him or her down, look at the negatives, never the positives, and then end up where we started.

Pat can scream all he wants and the educated elite can applaud him as loudly as they want but he is not getting anywhere near Aso Rock unless he can out-spend and out-maneuver the touts and louts. Nigerians like to hold on to this delusion that some great, intelligent, honest man is going to rise from somewhere and sweep the elections in a great showing of democracy. It's NOT going to happen. Nigerian politics run on patronage. Patronage needs lots and lots of money. In short, our political offices are for sale to the highest bidder (and it should be no surprise that it's only former military dictators and their friends that can afford to pay for the office of the President).

You guys can continue arguing until tomorrow comes, good luck!

For God sake, if VWN failed when Pat Utomi was Deputy Managing Director or Managing Director he should be bold enough to tell us why they failed as managers of an organisation not to cook up stories while he was not listened to. It is a team failure.
See in the case of Okocha and his France 1998 team while the team was walloped by the danish he earned himself a big buy to PSG and others were seen to be failure, was it not obvious that the youngman was actually pursuing his personal objective. PAT should tell us the truth or otherwise.

X-factoria:

[


Yes SLS did not openly condem Pat Utomi but can you honestly exonerate Pat Utomi from the mess in that Bank?

Guy, there is a whole lot of difference between Pan African University and a bank. You need me to tell you that? And what position does Pat Utomi hold in Pan African University? Don't forget that there are foreigners involved in the running of that school; and it is an academic institution and expectedly, Pat Utomi shoud fit in properly there. The complexity of running a financial institution with the attendant risk is not comparable to a school. Since you claim to be a Risk Mgr, can you properly put in perspective the risk associated with running both organizations?

To tell you which bank is properly managed? Check out GTB and FBN. I can vouch for these banks anyday! Mind you, I've been around for a while.

[b][/b]

Who has mentioned Jonathan here?? Anyway, if I must compare him with Utomi, Pat Utomi would not score more than Jonathan in my assessment. They both hold PhDs. Pat Utomi has not proven to be a seasoned administrator, so his economics background will be greatly discounted. We don't need anybody to come and bobo us with theories. The rigour of Nigerian politics alone will suffocate Utomi. Jonathan has an egde there. However, Jonathan is not my ideal candidate. In fact, I'm still looking for one.

How any sane person can exonerate Prof. Utomi from the mess that is PHB beats me.
Listing his success at Pan-African university to discount his failure at PHB is as hollow as an argument can get.
No one says he is infallible.
The board of PHB were either guilty of negligence or collusion.
claiming neither of the above demeans the role of a board and the integral part corporate governance plays in the business world.

May Utomi will educate us on his role in PHB,the same way he has educated us on his Volkswagen days.

moremi2008:

Pat can scream all he wants and the educated elite can applaud him as loudly as they want but he is not getting anywhere near Aso Rock unless he can out-spend and out-maneuver the touts and louts. Nigerians like to hold on to this delusion that some great, intelligent, honest man is going to rise from somewhere and sweep the elections in a great showing of democracy. It's NOT going to happen. Nigerian politics run on patronage. Patronage needs lots and lots of money. In short, our political offices are for sale to the highest bidder (and it should be no surprise that it's only former military dictators and their friends that can afford to pay for the office of the President).

You guys can continue arguing until tomorrow comes, good luck!

they will call you a pessimist but at least you are realistic.
However, there will be a little chance of change if the 'good' guys come together and join forces.
As long as each is satisfied sitting in his own little corner and doing his own thing and feeling good with himself, your prophecy will forever come to pass.

For God sake, if VWN failed when Pat Utomi was Deputy Managing Director or Managing Director he should be bold enough to tell us why they failed as managers of an organisation not to cook up stories while he was not listened to. It is a team failure.
See in the case of Okocha and his France 1998 team while the team was walloped by the danish he earned himself a big buy to PSG and others were seen to be failure, was it not obvious that the youngman was actually pursuing his personal objective. PAT should tell us the truth or otherwise.  

@ Holesher: Are you saying Okocha did not play well in France 98 world cup to earn the PSG offer? Or was it his fault that the fellow team mates did not live up to expectations? How did he get PSG offer then? You think the offer to play for PSG is like the office of the presidency in naija where merit is not a yardstick to earn it.

The example in your post grossly lack sense and I suggest you remove same without delay cos this ridicules your contributory skills

If Pat wants to be considered a credible candidate then he requires a complete overhaul, a kind of mental retrofit. We can see from the VWN and PHB experiences his ability to influence corporate decision making is highly questionable. If you cannot do this in a board of say ten to fifteen, how do you handle a five hundred strong house, this three hundred tribe clap trap, a hundred and forty million hungry people. This is the reason his type are at home with smaller parties of distinct character where his limited political and inter.relationship skills cope. Unfortunately the bulk of the electorate will not understand how and why such purported competence is not popular.

A better balance between intellect and politic is needed from him. You place honesty and intellect on the table. I will pick honesty any day. You can always find competent men and women anyday.

mbulela:

they will call you a pessimist but at least you are realistic.
However, there will be a little chance of change if the 'good' guys come together and join forces.
As long as each is satisfied sitting in his own little corner and doing his own thing and feeling good with himself, your prophecy will forever come to pass.

Nigeria's REAL problems can only be solved by REAL people. I am a realist to the core. No amount of hope and prayers will change things unless enough of us are ready to roll-up our sleeves and get our hands dirty. Pat needs to step away from him grand rhetoric and show us some credibility.

Reference:

If Pat wants to be considered a credible candidate then he requires a complete overhaul, a kind of mental retrofit. We can see from the VWN and PHB experiences his ability to influence corporate decision making is highly questionable. If you cannot do this in a board of say ten to fifteen, how do you handle a five hundred strong house, this three hundred tribe clap trap, a hundred and forty million hungry people. This is the reason his type are at home with smaller parties of distinct character where his limited political and inter.relationship skills cope. Unfortunately the bulk of the electorate will not understand how and why such purported competence is not popular.

A better balance between intellect and politic is needed from him. You place honesty and intellect on the table. I will pick honesty any day. You can always find competent men and women anyday.

Like the saying goes: "There is no smoke without fire". This man has a history of leading failing corporations. The track record speaks for itself. No amount of "story-story" can change that. I was willing to let go of the VWN issue because Nigerian executives of foreign-owned entities often have little say in major investment decisions. However, the subsequent near-failure of Bank PHB under his watch is just unforgivable. If this man can't control ordinary Atuche, how is he expected to control a nation of clever, fearless and heartless crooks like Nigeria?! His cabinet will empty out the Treasury under his very nose and he won't realize this until his presidency is over!

ayubam:

To tell you which bank is properly managed? Check out GTB and FBN. I can vouch for these banks anyday! Mind you, I've been around for a while.

Xfactoria: I was waiting for you to suggest those two banks cos I know that is the traditional comment of not too informed populace we have in the country? Question: please tell us the basis of this statement cos this same bank was grossly affected at least first bank that I know was badly expose to the capital market with over 70% of of their loans being heavily provided for. Is this not same bank whose equity was sold at 33.00 naira per unit at the primary market few years back that is still struggling to maintain 13.00 price per unit? Can you compare first bank gross earnings to their profitabilty and to you tell us the efficiency ratio of that organisation.

Can you compare them with Stanbic IBTC, Standard Chartered result and Citi bank that have consistently maintain an NPL ratio of less than 10%. What happened to bank PHB is no different with investment Crash in the USA, UK and global financial market and this has call for increase in regulatory risk concern and several frameworks are being developed globally to addressed the collapse. Do not see things with one-sided lopsided corporate governance issues that have been explained for the Nigeria Banking crises.

And you gave Jonathan better assessment than Utomi cos they both have PHD? So what institution has Jonathan Managed. Do you even know what it takes to run a business school? Less risky shei? That is all you know about risk- Credit Risk and I am not surprised? Assess Risk globally and you will know Utomi has done well in PAN an it is an evidence that this guy will do well by revitalising our dying campuses under the control of a President who is not bordered with over 60% of his budget going on recurrent expenditure 

Ayubam, if you want me to give you lectures on properly managed banks, especially the ones I mentiond, then you need to pay me. But for now, I will try to point out some of your flawed assumptions.

So your idea of a properly managed bank is one with less than 10% NPL (non performing loan)? You even displayed much more ignorance by mentioning Citibank and Stanchart. What is the balance sheet of these banks' subsidiaries in Nigeria? What is their risk asset size? How much risk do they take in Nigeria? Citibank's total balance sheet is not more than N100bn as far as I know. Now, compare that with FBN with balance sheet of close to N2 trillion naira!How can you even compare typical investment bankers (in the Nigerian market) like Citibank and Stanchart  to erstwhile 'Universal' banks like FBN and GTB?  You even lied about FBN exposure to the NPL as being over 70% of their total exposure. Have you seen their 2009 financials to see that their NPL is 8%? You mentioned great exposure to the capital market. If despite this, the bank was able to achieve 8% NPL in 2009, what better proof of proper management do you need? Guy, be careful how you make false claims because you aint talking to morons here.

Secondly, you think the fact that a bank's share price plunged downwards in reaction to a general lull in the capital market equates to improper management? Do you even know what happened in the capital market at all?

Thirdly, you seem to underrate the effect of corporate governance on the health of a bank. You are so uninformed. As I write to you, I am working in another rescued bank different from Bank PHB and the story is the same. The quality of decisions (like giving loans to fictitious names) taking at the top management and board level led these banks into trouble. That is what makes the difference between GTB and FBN on one hand and Intercontinental, Oceanic and Bank PHB on the other hand.

You do not even come across as a risk manager or maybe you are a fresher in that discipline. You have a lot to learn brother!

Prof u av really tried but GOD knows the best. Ur time shall surely come

I think the ultimate challenge for men of 'genius' in Nigeria like Prof. Utomi, Soyinka and the others you might know is to come-up with a grand strategy that will keep the inept and corrupt politicians out of power through the political process. So far in Nigeria's history they have failed to achieve this.  As I type this, I am thinking to myself that even if they manage this, they might just go the way of the animals in George Orwell's Animal Farm.

Hmm,  maybe we can get Jimmy Neutron or Dexter to do the job for us.

Pat Utomi is an academician, he is good at theorizing, as an administrator, he has performed below par, he should be part of the system that will reform the nation, but, he can not lead it. Nigeria needs at this time honest bastards who will put the interest of the nation first in their thinking and actions. Politicians need to smart and honest, a smart politician will be able to see the benefit of suggestions by his ministers even if he has no expertise in that area. I wish Buhari wins with Utomi being an adviser, if he performs well as an adviser, he can be given a ministerial role to test his competence, he needs to rise through the ranks, we actually need to put competent and honest people in positions where they can rise through the ranks.

I have a feeling that Buhari is getting popular, know?

How can we ever make Prof. Pat Utomi to rule this country.? His ilk is what we need right now as a country

maclatunji:

I have a feeling that Buhari is getting popular, know?

Very true and I hope he wins and Ribady and Utomi works with him or they all work together and one of them wins.

Pat Utomi obviously paid attention in Economics 101 while at university. That's good for him. It would have been good for Nigeria too, but, unfortunately, our country is not one where brilliant minds get close to the seat of the decision making process. As such, sadly, Pat Utomi will die another one of thousands of Nigerians with strings of qualifications with absolutely nothing show for it.

This, of course, reflects badly on the country--not him. At the end of the day, at most, Pat can only muster tens of millions of naira if he calls his chips in. Atiku and Jonathan have literally billions to play with, so, it's clear that Utomi will never be President of Nigeria.

Anybody who is able to take a long term look at Nigeria will understand that there is no future for the country. Flush with crude oil and petro-dollars, if this is the best we can come up with--no electricity, incomprehensible infrastructure, rotting educational systems, corrupt leadership--then think what will happen as the world makes inroads into alternative sources of energy. We haven't invested in agriculture or other areas of manufacturing where we enjoy comparative advantage, we are merely coasting along with neither a national plan nor a long-term development framework.

This country is almost certainly going to implode. It's a question of when.

lonewolf:

Pat Utomi obviously paid attention in Economics 101 while at university. That's good for him. It would have been good for Nigeria too, but, unfortunately, our country is not one where brilliant minds get close to the seat of the decision making process. As such, sadly, Pat Utomi will die another one of thousands of Nigerians with strings of qualifications with absolutely nothing show for it.

This, of course, reflects badly on the country--not him. At the end of the day, at most, Pat can only muster tens of millions of naira if he calls his chips in. Atiku and Jonathan have literally billions to play with, so, it's clear that Utomi will never be President of Nigeria.

Anybody who is able to take a long term look at Nigeria will understand that there is no future for the country. Flush with crude oil and petro-dollars, if this is the best we can come up with--no electricity, incomprehensible infrastructure, rotting educational systems, corrupt leadership--then think what will happen as the world makes inroads into alternative sources of energy. We haven't invested in agriculture or other areas of manufacturing where we enjoy comparative advantage, we are merely coasting along with neither a national plan nor a long-term development framework.

This country is almost certainly going to implode. It's a question of when.

Your analysis is very blunt. However, I am going to allow myself be sentimental and say; with God all things are possible (and Nigeria shall remain one hopefully). There is nothing wrong with being sentimental once in a while is there?

mbulela:

How any sane person can exonerate Prof. Utomi from the mess that is PHB beats me.
Listing his success at Pan-African university to discount his failure at PHB is as hollow as an argument can get.
No one says he is infallible.
The board of PHB were either guilty of negligence or collusion.
claiming neither of the above demeans the role of a board and the integral part corporate governance plays in the business world.

May Utomi will educate us on his role in PHB,the same way he has educated us on his Volkswagen days.

mbulela:

How any sane person can exonerate Prof. Utomi from the mess that is PHB beats me.
Listing his success at Pan-African university to discount his failure at PHB is as hollow as an argument can get.
No one says he is infallible.
The board of PHB were either guilty of negligence or collusion.
claiming neither of the above demeans the role of a board and the integral part corporate governance plays in the business world.

May Utomi will educate us on his role in PHB,the same way he has educated us on his Volkswagen days.

Right on spot, While i'll still think Pat is a genius and he means well, I have my doubts whether he understands the intricacies of Nigerian politics. Politics has a lot to do with people. On the other hand Pat's Knowledge centres around theories. He may be very good at debating and flunking his opponents but that does not answer the questions " What happened in Bank PHB? While he was the boss of Volks why didnt he resign if his opinion wasnt adhere to? He can't absolve himself from all these mess no matter how good his intentions are.

But I wish he finds the best place to exhibit his knowledge

Pat Utomi saw all this economic decay we are seeing today far back more than 20 yrs ago. It is comparable to say developing a jet engine in the 1st world war. That is pure ingenuity!