bank

How banks make free money from government funds, by CBN governor

“First of all, you have got liquidity surplus in the banking industry; … there is over N1.3tn or so sitting in banks and belonging to government agencies. Now basically, they (these funds) are at zero percent interest and the banks are lending about N2tn to the government and charging 13 to 14%! Now, that is a very good business model, isn’t it? Give me your money for free and I lend it to you at 14%; so why would I go and lend to anyone?”

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Christians Indeed!

Jimmy Peters was on his way back to Lagos from a wedding in Benin City. Suddenly, the road ahead was blocked. Before he could say “Jack Robinson,” some armed men sprang out of the bushes. Instinctively, Jimmy’s wife hid their baby on the floor of the backseat of the car; quickly throwing a cloth over him.

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Lagos: Deportation is lawless, vexatious

Once again, the Lagos state government deported Nigerians from a Nigerian state; an action that is as lawless as it is vexatious. Newspaper reports last week indicated that the Lagos authorities out of possibly excessive enthusiasm, and certainly out of pitiable ignorance and overreach, rounded up all manners of the city poor from the streets, sixty-seven of them, put them in a vehicle, and transported them across the bridge to Onitsha, Anambra state.

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The senate and child-wife as adult

Some time ago, a male teacher and his fifteen year-old pupil began a romantic relationship. It was reported that the affair was not exactly a clandestine one as members of staff and other pupils were aware that they spent much time together, even outside school hours. No-one thought much of it until they both went missing, and were later discovered some months ago to be living together in France.

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Dare to pray

Does every body pray? Sounds like a stupid question and most people will answer “but of course”. Or perhaps the question should be are we expecting our prayers to be answered? I listened to a sage (Dr Christopher Kolade) a while back and he asked a question that was inspirational and faith building. He said “I know you believe in God but do you believe him?” Its a question that calls to the deep and he had me musing for quite a while.

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Crocodile tears in Benin

Chief Olusegun Obasanjo as President of Nigeria lived in the Presidential Villa for 4 years (1999-2003) in the first instance. While seeking reelection in 2003, he left his residence in Abuja for his home in Abeokuta to vote. Could that be a sign of ethnic jingoism?

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