Banking and Finance

We may all be jumping the gun in our comments on the on-going battle between the President and his suspended Central Bank Governor. Those of us who are not lawyers by profession have probably assumed a literary meaning of the due process protocol for appointing or removing the Governor of the Central Bank. The protocol does not specifically address the issue of suspension per se the last time I checked, but since the President has taken liberty of his suspension order to simultaneously send his nominee to fill that vacancy to the Senate for confirmation without any additional explanation or…
Friday, 14 September 2012 14:12

What Manner Of Central Banking?

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In Nigeria, like other countries of the World, from time to time, there must be one issue or the other making the news and heating up the polity. Today it is the stubborn decision by the Central Bank of Nigeria (CBN) to print or mint N5000 currency note and this has been approved by the President and later rubber-stamped (could they have done otherwise?) by the Nigeria Economic Management Team (NEMT). So why should other small Nigerians like me talk about what Mr. President had approved? I just want to exercise my right to express my feelings on an issue…
I disagree with Mr. Williams’s position that Ms. Ngozi Okonjo-Iweala should step down for Dr. Kim in the hope that she would be rewarded later on by USA and the West. She should never do any such thing; for one thing it will not bring the reward that Mr. Williams is peddling because she would be a defeated and weakened person. But before I show why that would be a bad strategy let me agree that Ms. Okonjo-Iweala will not be the next World Bank President not in 2012 and also never in her life time. USA is not about…
Saturday, 22 October 2011 06:30

Biafra and Islamic Nigeria

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On the 22nd of September, 2011 five Igbo men domiciled and carrying on businesses in Mandala, Niger State of Nigeria were murdered by some Muslim men suspected to be members of the Boko Haram group. The reason given for the killing is that they failed to recite verses from the Koran, the Islamic book of religious tenets. Boko Haram is a separatist Islamic group of the north of Nigeria. In the past nine years the group has consistently campaigned through violence to human lives and property for the establishment of a separate Islamic state from the Nigerian union. But through…
Saturday, 03 September 2011 06:27

Our Central Bank Governor Protects Thieving Banks

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When some renowned Nigerian intellectuals like Prof. Pat Utomi were describing Sanusi Lamido Sanusi, the Governor of the Central Bank of Nigeria, as emotional, reckless, with a penchant to play to the gallery over his banking reforms about a year ago, I was inclined to give Sanusi the benefit of the doubt. When Sanusi himself gave the terroristic antics of the Western dominated, racist, obtuse, morally delinquent IMF leadership’s destructive economic recommendations against African best interests a TKO, in March, 2011, I was completely bowled over to Sanusi’s side. I started seeing him, along with Prof. Attahiru Jega, as the…