NewStats: 3,262,009 , 8,175,863 topics. Date: Saturday, 31 May 2025 at 02:07 PM 23525j

ufotunang:
..ok the 4 deputy governors..is not duplication of duties...are they not doing the same duties ?

Nooooo even in a small branch of a bank . You will have the branch manager. Head customer service, cash officer etc. That’s not a duplicate. Common it’s a big organization.

Gajagojo:

You are talking ignorant and conceited gibberish.
The CBN in Nigeria has next to zero influence on inflation in 2023
That train has left the station all the ammunition it has is exhausted
Everything you have to say is colored by bigotry

Look, you low-IQ bottom feeder, you have just made about the most inane set of comments I have ever seen on this website, and that is really saying a lot! I am more Yoruba than you will ever dream of being, I have defended Tinubu times without number on this very site, and yet I have no problem saying that this appointment was a gigantic error that threatens his entire agenda. I know baboons like you find this hard to comprehend, but it is possible to agree with a politician on some things while disagreeing on others: some of us actually that objective realities exist, and affect us all regardless of tribal affiliation.

Maybe jobless nonentities like you can receive sustenance from blind shows of tribal loyalty on sites like Nairaland, but the rest of us need a thriving economy, and an unqualified, highly dependent CBN governor is not the vehicle through which that will ever be accomplished, no matter the tribal origin. Or perhaps dimwits like you think Yorubas will get a special dispensation from economic stagnation? How well did that work for Igbos under Emefiele?

The primary cause of inflation in NIgeria is imported inflation and government living beyond its means
The government through irresponsible fiscal policy and poor oversight by the National Assembly
The CBN has no levers to press beyond interest rates and to stop lending to governments
The interest rate lever is exhausted .
The main thing that needs to happen at the CBN today is to stop corruption with Forex which is not an issue of qualification but of integrity
To fix inflation we need peace,security and then to start production of food and other basic things that drain our Forex

Those are Economic and political issues not monetary ones

Utterly imbecilic nonsense. "The interest rate lever is exhausted"? That is just about the daftest claim imaginable! Where exactly did you obtain your economics degree again? Could you even tell Walrasian equilibrium from a walrus if your very life depended on it? Save your worthless beer-parlor "insights" for your fellow semi-literates who think they know more than those who spent years acquiring advanced degrees.

grandstar:


I have known Lordadam for a while.

He doesn't say what he wishes to be done, or what he wants done- but rather- just stating how things are.

Where he can give a decisive answer, he provides one. For him, it's nothing personal, simply business.

It was precisely because he'd previously projected the impression you describe that I found his puerile response so disappointing in this particular case. Here was a subject on which he supposedly had expertise to bring to bear, and yet all he saw fit to add to the discussion amounted to "na turn by turn"? If this was all that could be expected of someone who had seemed to have a clue, what hope for the ignorant masses on here who see no difference between ing and economics and imagine themselves monetary policy maestros while unable to distinguish basic supply and demand curves?

omohayek:

It was precisely because he'd previously projected the impression you describe that I found his puerile response so disappointing in this particular case. Here was a subject on which he supposedly had expertise to bring to bear, and yet all he saw fit to add to the discussion amounted to "na turn by turn"? If this was all that could be expected of someone who had seemed to have a clue, what hope for the ignorant masses on here who see no difference between ing and economics and imagine themselves monetary policy maestros while unable to distinguish basic supply and demand curves?

I was searching his qualification to find the word "economist" beside it but found none. His banking experience though good, lest he be called at theoretical banker (Sanusi to Soludo when he failed to see the rot in the banks under him),but an economist is what is needed.

I expected him to hire an Alfred Rewane or Pat Utomi, someone who would assure the markets. Nominating his boy for a post that requires independence raises questions. How will he fight inflation for instance if the president is dead set against a recession?

I sense it was Wale Edun that nominated Cardoso for the post. They are both Tinubu boys and have worked for decades together in Lagos states since 1999, both sacrificing prestigious and high paying international careers.

Also, Tinubu needs his boy to clean up the mess in the CBN personally. He needs someone who knows when to draw the line.

Tinubu seems here has compromised competency.

omohayek:
Look, you low-IQ bottom feeder, you have just made about the most inane set of comments I have ever seen on this website, and that is really saying a lot! I am more Yoruba than you will ever dream of being, I have defended Tinubu times without number on this very site, and yet I have no problem saying that this appointment was a gigantic error that threatens his entire agenda. I know baboons like you find this hard to comprehend, but it is possible to agree with a politician on some things while disagreeing on others: some of us actually that objective realities exist, and affect us all regardless of tribal affiliation.

Maybe jobless nonentities like you can receive sustenance from blind shows of tribal loyalty on sites like Nairaland, but the rest of us need a thriving economy, and an unqualified, highly dependent CBN governor is not the vehicle through which that will ever be accomplished, no matter the tribal origin. Or perhaps dimwits like you think Yorubas will get a special dispensation from economic stagnation? How well did that work for Igbos under Emefiele?


Utterly imbecilic nonsense. "The interest rate lever is exhausted"? That is just about the daftest claim imaginable! Where exactly did you obtain your economics degree again? Could you even tell Walrasian equilibrium from a walrus if your very life depended on it? Save your worthless beer-parlor "insights" for your fellow semi-literates who think they know more than those who spent years acquiring advanced degrees.

You can practice your limited abusive vocabulary all day long
Changes nothing just reveals an insecure fellow compensating with bluster
Reality is there is not enough information in the public domain to determine if he will be a good CBN governor. Nothing to do with ing Tinubu or being Yoruba
We will only find out in hindsight not from his resume so when you pronounce with such certainty you confirm you are an empty noise maker
The CBN governor is not who determines inflation in Nigeria . We are largely import dependent and inflation is largely imported and varied little with interest rate historically
The interest rate in Nigeria is 18.75% so you tell us what the CBN can do in of interest in the next 5 years.
Nigerians do not borrow that much anyway and so interest rates have zero meaning to most people
There is virtually zero consumer credit in Nigeria and the government policy is to bring down interest rates for manufacturers and farmers so tell us which sector of the economy the CBN will effectively hit . If the CBN raises interest rates today it will virtually kill manufacturing and still do Nothing for imported inflation which is based on exchange rate which is tanking
The CBN under Emefiele printed trillions and it also borrowed against foreign reserves

It is powerless right now and it's main priority is to stop corruption in the sale of forex.

I do not need an economics degree to know you are a dunce

LegacyB:

Nooooo even in a small branch of a bank . You will have the branch manager. Head customer service, cash officer etc. That’s not a duplicate. Common it’s a big organization.

... branch manager, head customer service, cash officers this are different job titles in the bank..the jobs they will do in the bank will be different...different roles, responsibilites and duties in the bank they will do.....but 4 deputy governors is the same job titles .,the job they will do in the central bank will be the same ...the same roles , responsibllites and duties... since they bear the same job titles

ijustdey:


NTA

Seunmsg, how far now? You've been conspicuously silent ever since Olayemi Kadoso was appointed CBN governor. I tried to tell baba that he appointed the wrong Kadoso. But not to worry, I am still talking to him. Pẹlẹ. Your loyalty should be rewarded. Auditor like you, ehn. 😜😜😜😜😜😜😜

The core functions of the CBN are not different than any other in the EU, UK, USA, Asia, etc. Perhaps you may have to open the link:

https://www.cbn.gov.ng/AboutCBN/

to understand that monetary policy formulation and price stability is the No. 1 goal. Regulating financial institutions is definitely part of the responsibilities and that is why you have a Deputy Governor for FSS charged with accomplishing that. Any banker can lead that directorate. Central Banks (or Federal Reserve in some countries) have similar functions all across the world and it is typical to appoint experts with a strong monetary policy background to lead the bank. That most Nigerian leaders appoint retired bankers does not shift the core functions of the CBN away from monetary policy formulation and price stability to only regulating financial institutions. It is a tradition that we need to do away with.

This tradition is akin to going in for a brain surgery and the doctor that is assigned to perform the surgery on you tells you he is a gynaecologist. Both are doctors and experts but in different fields.

Gajagojo:

What is the definition of

Economist?

Is there any universally acknowledged and accepted definition?
Is any person with a Bsc in economics an economist ?

At any rate it is clear your understanding of what the CBN of Nigeria does or the job of the governors is limited

The CBN in Nigeria regulates banks and financial institutions.

That is not the case everywhere
Regulatory function is often separated from monetary function e.g.
in
The European Union
The United kingdom
The United States

Combining the two into one body means we have an institution that is very different from many others . That is discussion for another thread.
Even if that were not the case There is no logical basis to conclude that an "economist" whatever that means is the best person to head the central bank. Even so called economists never agree on what should be done often advising opposing courses of action. Reflecting the reality that they are not involved in mathematics but a social and political enterprise

Apart from being "traditional" you have not given any reason why an economist would down better job as CBN governor than a lawyer ,politician or doctor.
It is an assumption with no objective basis

InsightsGuru:
The core functions of the CBN are not different than any other in the EU, UK, USA, Asia, etc. Perhaps you may have to open the link:

https://www.cbn.gov.ng/AboutCBN/

to understand that monetary policy formulation and price stability is the No. 1 goal. Regulating financial institutions is definitely part of the responsibilities and that is why you have a Deputy Governor for FSS charged with accomplishing that. Any banker can lead that directorate. Central Banks (or Federal Reserve in some countries) have similar functions all across the world and it is typical to appoint experts with a strong monetary policy background to lead the bank. That most Nigerian leaders appoint retired bankers does not shift the core functions of the CBN away from monetary policy formulation and price stability to only regulating financial institutions. It is a tradition that we need to do away with.

This tradition is akin to going in for a brain surgery and the doctor that is assigned to perform the surgery on you tells you he is a gynaecologist. Both are doctors and experts but in different fields.

I do not have time for lies or stupid talk .
My point is unambiguous
The Central Bank of Nigeria regulates banks in Nigeria
That function is separated in the United States
The United kingdom
And the
European Union

If you have no counter to that just go away and don't bother to quote me
I have zero patience for foolish talk