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Medium-term fiscal framework and the banking sector – 3

The triumph and the tragedy Soludo as we have noted, succeeded at first with consolidation. He probably even succeeded beyond his own dreams because in less than three years after consolidation, four Nigerian banks were among the 1000 largest banks in the world; as it turned out, only on paper.

The wrong way to defend the naira

It is sadly becoming obvious that CBN’s strategy of bombarding the forex market with dollars from our reserves has once again failed to stop the depreciation of naira, in spite of increasing dollar revenue from crude oil prices, which have remained well above the revised budget benchmark of US$75/barrel.

The president and the Senate Square off

Finally, the Senate took up the gauntlet last week and threatened to call a vote of no confidence on the president for what they have generally perceived as his lack of serious engagement with the national security situation. Specifically, the senators were up in arms with the administration’s handling of the Boko Haram terrorist killings, and the heightened general insecurity of life in Nigeria.

Medium term fiscal framework & the banking sector –2

“I want to see a situation where bank depositors can go to sleep with their two eyes closed”. Professor Chukwumah Soludo, Governor, Central Bank of Nigeria, August 2004. And for Soludo, security could only be guaranteed by creating banks which were “too big to fail. Like the author of the great ship, called Titanic whose builder boasted that “even God cannot sink it,” Soludo, as we had noted earlier, got his wish.

Our Pensioners & I’m Alive Exercise

Helen, I’m away from Lagos and at my daughter’s place in Epe. I don’t know when I’ll be back to my house.” When I received this text some days ago from a former classmate who’s a federal government retiree, I was a bit agitated.

National honours: Chinua Achebe is not alone

Serving under President Olusegun Obasanjo was for me an eventful experience. To start with, I got called by him on the phone many times as late or better put as early as 2am and the first question was usually about my whereabouts- where else could I have been at that time? Immediately following my reply, ‘in bed sir’ would be why? What could I say?

A Jury of peers (1)

The recent trial and eventual conviction of Michael Jackson’s physician Dr Conrad Murray has recently brought the American judicial system under a microscope before the whole world. The world saw a slew of evidence and very convincing arguments that led most of us to be fairly sure of the guilt of the not so good doctor.

The president and the Senate Square off

Finally, the Senate took up the gauntlet last week and threatened to call a vote of no confidence on the president for what they have generally perceived as his lack of serious engagement with the national security situation.

Jonathan should better be mistaken

“My proposal for a single seven-year tenure is anchored on the need for an incumbent president to focus maximum attention on the execution of his development programmes instead of expending vital energy on re-election issues”- Goodluck Jonathan

A Precarious crown

The world is a stage and everyone is an actor. When the light comes on, that is your opportunity to play a character, become someone else for a time limit and prove your mettle as you convince the audience that you are the character you portray. At the end of your performance, you take a bow and are either booed or applauded for doing a shoddy or great job.

The need for independent candidate

It is doubtful that the forthcoming election for the governorship in Bayelsa State will give rise to “as much “palaver” or court as much interest, as its primary in the Peoples Democratic Party in that sparsely-populated, oil-soaked, but abysmally-neglected political entity to the South-south section of this country.

The National Awards saga

THE internet and newspapers are awash with bitter criticisms from journalists and members of the general public who strongly object to most or all of the names that made it onto the President’s National Awards list.

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