Sunday, April 18, 2010

Prof Charles, a successful Economic Academician/University Don but morally bankrupt.

Prof Charles, a successful Economic Academician/University Don but
morally bankrupt.

Professor Sunday Charles Chukwuma Soludo, a World Class World Bank
Economic Policy Expertise, a successful Economic
Academician/University Don but morally bankrupt and character wise,
unprincipled Academician, whose connivance with IBB & his cronies for
Anambra State Governorship ambition, led him to some deal connivance
in looting; while in Central bank of Nigeria as to bankroll his
political ambition, upon the exit of Obasanjo whose fatherly
advice/guide and close monitoring, could not have allowed him to
connive with those, who have now misled him politically, as to tarnish
his academic credentials and discredit his ability to caution
CBN/Nigeria from his retirement.

As to trap Prof Soludo into this political quagmire, IBB henchmen like
Dr. Alex Ekweme,Chief Anthony Anineh, Author Eze and others, played
the required roles as to sell Anambra political dummy, ruin his
legendary academic ambition and world bank opportunity/chance of
working in future for academic/world bank job or intellectual
contract, since he has dishonored on principle and trust ,which formed
the bases, upon which the World Bank made his Economic academic
recommendation to Chief Olusegun Obasanjo, when his Regime was seeking
for international assistance on how to reform Nigeria Economy and
Nigeria problematic banks. Although, Soludo was able to performed very
well as expected by international communities in the Nigeria bank
Reform and other national economic policy but on the departure of
Obasanjo from Governance, whose achievement songs were song local and
internationally, turned around to connive with looters on personal
selfish to undermine his worldly recorded achievements and tarnish his
future ambition of himself and that of his children and generation to
come. His achievements, made me to choose him as my academic mentor
and intellectual idol and success song for Igbo people whose integrity
was at low elbow but cabal tactically used his evil maverick gimmick
and wealthy cronies to fool Soludo and ruin him forever. Sorry Soludo
for lost academic opportunity and tarnished characteristic image.

Also, daft which we have observed in Soludo of exposing his looting
tactics to the Cabal whom Cabal imposed CBN Governor is still to loot,
despite his chartered deceitful CBN Reform, which its reforming, is
simply exposing Soludo bank records/ bank balance statements cover ups
with his deals in bureau de charge foreign currencies sale and second
window account opening without checking the balance in first window,
whom Cabal with cronies were major of abusers, while former MDs
foolishly connive as to please the Cabal but they didn’t know that
they have sent themselves to jail unwisely.

… to be conted.
Mazi Patrick
The appointment of Nigeria CBN Governor & His scripted discharging Duty Dilemma.

Contrary to international Communities ‘expectation and opinion of
appointing at least Core North radical knowledgeable Economic/Finance
University Professor to saddle with the sensitive and complex nature
of CBN think tank job, the Nigeria President Musa Yar’dua has instead
appointed an IBB crony/point man, a renowned UBA/First Banker, a
feudal Hegemony icon & Fulani Aristocrat, better referred to, as
Risk/Crisis Manager, otherwise regarded as Risk/Crisis initiator or
programmer, whom the World assumed that does not posses the type of
vast knowledge based academic think tank Reservoir,
technical/tactical micro or macro Economic Strategy and well grounded
in Brentwood Strategy and finance World bank/IMF Policy fellowship
with the required intra world Tactics and intrigues of positioning
sensitive CBN policy & coordinate Nigeria in line or in par with the
US driven complex Brentwood strategy.

Now, the modern CBN job includes articulation/formulation of styled
US modern Brentwood Economics/Finance, composition of various
short/long term Analysis with clinical Policy Guidance and the
lubrication of Policy association with the World Bank/IMF, as either
as contractual World bank Policy Academic contributor or Brentwood

The sources had it that CBN and NDIC recent Nigeria banking books
auditing exercise, were technically to have some discrepancies of bank
unauthorized encroachment and not large scale case, if compared to the
bank volume of bank Asset/Reserve, as bank abuse is being expected, as
far as banks are institutions peopled by humans not Angels and cannot
exist without one fault or the other.

The CBN Governor using a distress sanction, instead of using in house
of CBN regulatory cautioning, oversight regulatory correction and
possibly advising these erring banks, have made the world to look at
Nigeria with caution.

The CBN distress tactics by sacking the affected Banks’ MDs with
entire Board with a fiat action has portrayed danger for Nigeria
Economy. This CBN action has already erased the needed bank trust,
confidence and has created bank panics, which have rubbished whatever
good intention CBN Gov had and have cause irreparable long economic
damage for Nigeria with multiple economic effects, which Nigerians are
going to witness in 6 months time. As goods and services being
consumed or to be consumed from now to next 6months, are not to be
properly replaced, due to the bank created fears/panic and unnecessary
bank caution on credit rules which stiff credit facility, which lead
all the Nigeria banks to have rigid regulations on lending/borrowing
and tighten credit facility on those who run to bank to any form of
assistance. Discouraging or impeding the smooth running of businesses,
imports, exports and industries, will definitely impede production and
provision of goods and services.

By now, no further job creation, is to be witnessed, as slow pace of
activities in businesses, imports, exports and industries, scale down
employment, while the affected banks and unaffected banks will scale
down numbers of their bank Staff, as a strategy to survive and to stay
profitable. Also, as Nigeria banks are sizable big, with extension
ownerships in various Micro finance institutions, Mortgage, Stock
Brokerage firms, in Partnership with large scale Firm as well as
investors to many corporation and firm, their affected problems shall
definitely be affected, more than the expected.

The Core North Cabal/feudal Power Hegemony who could know tactically
that they have overplayed their Agenda of controlling the banks, have
overheated the economic system and the consequences have backfired
above their imagination and scope. The Dynamism and advance economic
and structural transformations of Nigeria , were not known to Hegemony
and Nigerians, as any hidden Agenda tactics always boomerang with dire
consequences that affected all, including those Power Hegemony who
virtually control the economy of Nigeria .

The irony is that the IBB cronies who are the new made Billionaires,
who took the unsecured loans without required bank Sureties or bank
loan requirements, were granted such loans under a powerful pressure
and lobby from Minna or Abuja, which made the cowed bank MDs to grant
the loans and this, have made the affected bank MDs as escape goats
and to look foolish, as they cannot explain such unprofessional act,
despite their acquired academic and bank experience/knowledge. The
behind scene acts to led to bad loans, is same setting, who is behind
CBN Governor’s action, make a good case for thinkers, as all will
definitely lead us into a big play or scam of foul bank ownerships or
bank settlement but the World have understood Nigeria and have
carefully follow this banks’ saga with caution and expected analysis,
to avoid any maneuver.

Presumably, since Nigeria is practicing US patterned Democracy, we
opt to emulate their Senate/Rep.(Congress) Public hearing on any
national matter before accepting any sanction or proposal, as this,
will enable the affected bank MDs to have chance of defending
themselves and to let Public why they handle loan issues and the new
CBN appointed MDs to showcase themselves on technicalities on they
intend to revive the affected banks.

Despite the controversy between House and CBN on how to inject funds
into the affected, there is much micro, macro, economic national
matrix and industrial index, which CBN have to resolved, unlike
western Nations that create economic wealth. Nigeria unlike those
productive and economic Nations, can only create wealth or inject CBN
create wealth or increase the volume of currency circulation, by ways
and means of our liquidation of External Reserve or by foreign loans
or through bilateral arrangement on the increase Oil exportation,
since Nigeria don’t have required technical higher industrial index,
productive index, no technology production, weak exports only
depending on Oil one commodity transaction and massive importation of
almost needed goods and services. Any injection of fund on literally
CBN created, based on only constitution, will weigh down the value of
Naira, as the only economic tool of ease out the injected or created
funds. CBN should carry out exhaustive consultation with the World
Bank and other international Creditors for appropriate Advice before
Nigeria will commit such economic suicide. be contd..


Mazi Onigbo Maduabuchim

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