NewStats: 3,262,318 , 8,176,803 topics. Date: Sunday, 01 June 2025 at 07:09 PM 104t20

eaglechild: So the mallam was clueless all along.

He was too biased and sectional as the central bank governor. His policies and "approach" towards reforms were too poor, example the way he handled the rot in Oceanic bank and other banks affected investors confidence towards Nigerian banks.
Today, Key-Stone bank and some other banks that came out of that reform are having empty halls, because they don't have investors confidence anymore, with lots of people rendered unemployed as a result of his uncalculated economic approach.

In America and Europe is common seeing banks involve in shady deals, but then, they are often sanctioned with investors interest protected.

Sincere9gerian: Since the FG sacked the controversial former CBN governor, Mallam Sanusi, followed by the appointment of a new CBN governor, the nation has witnessed a steady rise in the foreign reserve and excess crude . In addition, the naira has been relatively stable.

It will be recalled that before this period, the nation's foreign reserve and excess crude was on a free fall. The foreign reserve fell from near $50 billion by end of 2012 to about $37 billion early this year. The excess crude also fell from about $10 billion to a little above $3 billion within the same time frame.

However, the kicking out of the ENEMY WITHIN the govt, Mallam Sanusi, and appointment of a new CBN governor reversed the downward trend in both indices. The nation's foreign reserve has now risen to almost $40 billion. In fact, Nigeria’s foreign exchange reserves rose by $1.436 billion to $39.333 billion between July 4, 2014, and August 5, 2014 representing an increase of 3.65 percent over $37.897 billion recorded in July this year.

No more donation of the nation's resources to almjiris and trying to hide it by accusing the FG of stealing $20 billion dollars,

Really evil people.

fitzmayowa: Just asking...was sanusi responsible for the drop in excess reserve

Ebola Jonathan ers are not the smartest cookies in the jar, poverty seems to have erode their ability to make sound judgement and by extension their comments on this thread. For #30,000 this individuals have sold their future and their children future, tell me what is more shameful and soul drenching than that?

vedaxcool:

Ebola Jonathan ers are not the smartest cookies in the jar, poverty seems to have erode their ability to make sound judgement and by extension their comments on this thread. For #30,000 this individuals have sold their future and their children future, tell me what is more shameful and soul drenching than that?

we are posting smart, you are posting trash.

fitzmayowa: Just asking...was sanusi responsible for the drop in excess reserve

Yes, through his actions or inactions as the then CBN governor

Largas:
[s] we are posting smart, you are posting trash.[/s]

All i see is poverty talking trash!

Sanusi lamido sanusi following the footsteps of Abacha since 1759

He went to sign an agreement that brought Islamic banking into Nigeria.



Since then......

On paper

Sincere9gerian: Since the FG sacked the controversial former CBN governor, Mallam Sanusi, followed by the appointment of a new CBN governor, the nation has witnessed a steady rise in the foreign reserve and excess crude . In addition, the naira has been relatively stable.

It will be recalled that before this period, the nation's foreign reserve and excess crude was on a free fall. The foreign reserve fell from near $50 billion by end of 2012 to about $37 billion early this year. The excess crude also fell from about $10 billion to a little above $3 billion within the same time frame.

However, the kicking out of the ENEMY WITHIN the govt, Mallam Sanusi, and appointment of a new CBN governor reversed the downward trend in both indices. The nation's foreign reserve has now risen to almost $40 billion. In fact, Nigeria’s foreign exchange reserves rose by $1.436 billion to $39.333 billion between July 4, 2014, and August 5, 2014 representing an increase of 3.65 percent over $37.897 billion recorded in July this year.

You are pathetic. How did the former CBN governor deplete the reserve? Was he the one that shared money to "loyal" governors as ecological funds? Please try and be objective otherwise people will stop taking you serious.

kernel504:

He was too biased and sectional as the central bank governor. His policies and "approach" towards reforms are too poor, example the way he handled the rot in Oceanic bank and other banks affected investors confidence towards Nigeria banks.
Today, Key-Stone bank and some other banks that came out of that reform are having empty halls, because they don't have investors confidence anymore, with lots of people rendered unemployed as a result of his uncalculated economic approach.

In America and Europe is common seeing banks involve in shady deal, but then, they are often sanctioned with investors interest protected.

Agreed!
The worst was the extermination of 60 % of the jobs created by the banking sector during the Soludo merger era by his vindictive & dubious policies.
We really dodged a bullet by his sack.

Every single development that has come to the country since the emergence of this intricately corrupt istration, that stumble from one financial scandal to another, has been ON PAPER!!!

1) I buy fuel at a higher cost!!

2) More and more people turn up for job interviews with unimaginably limited job openings.

3) Insecurity has been on the rise.

4) Industrial actions are more frequent than ever.

5) The politicosphare remains highly charged.

6) An epidemic which poses an existential threat to the country found its way into our borders.

7) Inflation is constantly on the rise. One can hardly find a commodity that sells for N5 these days.

8.) Oil bunkering reached neck breaking levels despite a fraudulent multi million dollars contract awarded criminals by the government to protect the water ways. Piracy along our maritime borders has also been on a steady but alarming increase.

9) More committees have been set up with huge amounts of moneys expended on them than we had in the two regimes that preceded this one, without a single benefit to for all that had been spent.

10) Recurrent expenditure has burgeoned in the last four years to the detriment of the people.

11) The government is yet to explain how it came about spending over four times the expenditure on subsidy as we used to prior 2011. I mean, did the consumption of petroleum products quadruple within four years??

.... too many to mention.

And what has the government done besides blaming every one but itself for its failures

Sickening piece of sh!t.

sanush1t was a political governor all through, he was more interested in playing to the gallery.

He was more like a cancer foe all i care

We always knew Sanusi was probably using govt money to pacify his bokoharam associates. The truth is out!!!!

not surprised

simple question, nobody has answered.

Why are we borrowing 1bill dollars to fight bokoharam if the excess crude has increased?

Someone who has a logical explanation should please post.

Sanusi is to boko haram what the pope is to Catholicism.

Good riddance to bad rubbish.

JEITO: Sanusi lamido sanusi following the footsteps of Abacha since 1759

He went to sign an agreement that brought Islamic banking into Nigeria.



Since then......

All he did was conclude the work that Soludo started during his tenure.

Na person like you go baff salt water to prevent Ebola...

1wolex85: simple question, nobody has answered.

Why are we borrowing 1bill dollars to fight bokoharam if the excess crude has increased?

Someone who has a logical explanation should please post.

Don't mind all this jokers pulling statistics from Okonjo Iweala's powerpoint presentations as usual.

The market has been saved from that constant pressure the Naira was under. Sanusi spent about $1.5B monthly ing the Naria. Since the new CBN chairman came on board, exporters have become the regular suppliers of dollars to the market, not CBN.

When the exultad seat of the CBN is given to a Sharia expert, especially one with Islamisation as his ion, anything can happen!

The only reason anyone will defend Sanusi is sentiment.

Enough of Nigeria though!

1wolex85: simple question, nobody has answered.

Why are we borrowing 1bill dollars to fight bokoharam if the excess crude has increased?

Someone who has a logical explanation should please post.

You dont just go withdraw from your reserves anyhow without the risk of devaluing your currency.
That's why countries find it safer to borrow.

If i had my way, i'd place the nations economy (finances, banking, pensions, etc) in the hands of southerners for at least the next 20 years! The core Muslim north just doesn't have the qualified manpower to handle these critical sectors!

SANUSI LAMIDO SANUSI WAS A POP STAR BANKER HE DOES NOT GIVE A FVCK. ALL HE CARES WAS TO KEEP PAYNG FOR THE AWARDS HE WON WHILE OUR ECONOMY WAS FALLING DRASTICALLY.

Alishachris:

you mean now you can now lie and manifacture figures like okonjo is doing? Economy is growing yet things keep getting harder for the poor! hlthe cost of living keep increasing! And if I hear that dollar has been relatively stable, I will paint your face with patrick sawyers ash!

Its been long I saw dollar at 160naira truth be told, it got so bad that it sold for 169naira at some point, I really don't care who did what, all I demand is results, don't be amazed that if you go deeper into the nitty gritty of this current economic growth, it may transcend beyond CBN and whoever is piloting its affairs.
Cant get excited in a Jonathan's istration, his failure to sack Onyebuchi chukwu on this Ebola madness is incompetence personified.

Sincere9gerian:
Yes, through his actions or inactions as the then CBN governor

Certified m0r0n with PHD, do you even know what is excess crude reserve/revenue? kai! kai! your illiteracy can be mistaken for madness due to your blind for Jonathan, earning a living has made you mad.
CBN policies can stabilize the naira, any sane mind will leave it at that. The ECR is hinged on so many factors, CBN being the least on the list.

jpphilips:

Its been long I saw dollar at 160naira truth be told, it got so bad that it sold for 169naira at some point, I really don't care who did what, all I demand is results, don't be amazed that if you go deeper into the nitty gritty of this current economic growth, it may transcend beyond CBN and whoever is piloting its affairs.
Cant get excited in a Jonathan's istration, his failure to sack Onyebuchi chukwu on this Ebola madness is incompetence personified.

Why do you vomit rubbish all the time?

1wolex85: simple question, nobody has answered.

Why are we borrowing 1bill dollars to fight bokoharam if the excess crude has increased?

Someone who has a logical explanation should please post.

There is no logic in it, the ECR does not belong to the FG alone, it belongs to the three tiers of Govt as such cannot be used to fund an FG only project, the best the FG could do is to use her share to fund her projects, but with SWF, SURE-p and the race to 2015 having a proboscis on the same FG, share, I doubt if it will be enough hence the loan

atlwireles:

Why do you vomit rubbish all the time?

It is not my fault that you are a m0r0n who don't understand English

jpphilips:

It is not my fault that you are a m0r0n who don't understand English

Coming from a er of APC like you, is actually a compliment.

atlwireles: The market has been saved from that constant pressure the Naira was under. Sanusi spent about $1.5B monthly ing the Naria. Since the new CBN chairman came on board, exporters have become the regular suppliers of dollars to the market, not CBN.

What has changed in our export capacity in the last 8months that all of a sudden, our export can now over ride a $1.5b deficit according to you?

vedaxcool:

Ebola Jonathan ers are not the smartest cookies in the jar, poverty seems to have erode their ability to make sound judgement and by extension their comments on this thread. For #30,000 this individuals have sold their future and their children future, tell me what is more shameful and soul drenching than that?

You are truly, truly smart. It is ''Eroded'', not ''erode''. It is ''children's'' not ''children''