2/1/2015 - A response to Ernest Simeon Odior

 

 

 

2/1/2015

 

A response to Ernest Simeon Odior

 

By

 

Sampson  Onwuka

 

Journal of Emerging Issues in Economics, Finance and Banking (JEIEFB) an Online International Monthly

Journal (ISSN: 2306 367X) Volume: 1 No.5 May 2013. Citation from Ernest Simeon Odior – Dept. of

 

Economics; University of Lagos, Akoka, Lagos NIGERIA ‘Macro-economic variable and the

productivity of the manufacturing sector in Nigeria; A static analysis approach’

 

A broad stroke of the content of his analysis of Nigerian manufacturing sector from 1975-2011 reveal

 

expectations in his writings, which in spite of the econometric used and the dummy variables,

 

emphasizes the professor’s lithe academic particularly his use of manufacturing numbers from eras

 

(9yrs) comparable to other nations and from the list of interesting examples exposed by others who

 

made similar strophe’ argument about Nigeria and its failed industrial transition over the years. The

 

above statement can be called an executive summary of his essay, “….the central opinion of this study is

 

that manufacturing sector in Nigeria has been declining over the years and this is now reflecting in the

 

poor rate of growth and development of the nation. The conclusion however, is that the interest rate

 

policy of Nigeria has not been successful as expected, thus there is a need for a review of the Structural

 

Adjusted Programme and all its policies. From the previous arguments in this study and from the

 

empirical results, it is clear that some of the macroeconomic factors interest policy have large positive

 

and large negative impact on the productivity of manufacturing sub sector in Nigeria.”

 

The athletic compulsion of the author, Ernest Simeon Odior in his essay exposes why he leans towards an explicating of Dickey Fuller econometrics and adept to regression, but the author even from a face

 

level argument removed the transition from production to labor without breaks clearly dovetails on

 

manufacturing as more important element in hemming the lack of development in Nigeria as opposed

 

to production which is based on Jobs, whereas production is important manufacturing is relative to

 

prices or prices on top of final products differ hence a question of market and market conditions than

 

development with respect to credit is central to regression and exogenous shocks. If we can use some of

 

the assumptions of psycho-mathematical econometric models like those of Carlos Michelacci – no less

 

different or dissimilar from those of a Dickey Fuller, there is a consternation to assumption that changes

 

in any political economy is entirely based on the health of credit to manufacturing (?), that the

 

composition between the technological innovation and effective credit lines and investment procedures

 

are necessarily for changes to take place in any economy. In this case, he is particularly interested in a

 

case study of Nigerian economy from the 1975-2011, which has little industries to boost the condition and the impediment such as the lack of electricity and its short supply.

 

 

 

Although this aspect of the argument is not from any school of economics or from any school of

 

economics, we might kind enough to look at the comparative analogy by Daniel J. Boorstin of the rise of

 

automobile industries - the Chicago History of American Industries. A study of U.S industries and Car

 

manufacturing companies in the age of Henry Ford may allow us to visit the point by the author with

 

emphasis on Henry Ford attempts and failure to obtain a credit for his cars and T-Models production in

 

1909 and 1910 – a condition may more sinister by the problems of over-production of Cars by General

 

motors in 1908 and its collapse under William Durant. We may look at the example of Hiram Percy

 

Maxim (1869 – 1936) and the Horseless Carriage Days, that the “…reason why we did not build road

 

vehicles….We thought the rail roads was good enough. The bicycle created a new demand which it was

 

beyond the ability of the railroad to supply. Then it came about that the bicycle could not satisfy the

 

demand which it had created. A mechanically propelled vehicle was wanted instead of a foot-propelled

 

one, and we know now that the automobile was the answer.” The author, Ernest Simeon Odior, did not

 

mention that the very of most industries in the world is that it experiences all levels of economic

 

growth, that the growth is equal to a form of transition which require healthy sums of credit. Maxim

 

responding to curious questions of manufacturing also pointed out that the American Industry could

 

have “…could have built steam vehicles in 1880, or indeed in 1870. We did not” – part of the reason he

 

supplied was the lack of necessity or emergency in addressing some of the consumptive behaviors of the

 

population.

 

 

 

The demoted argument on the lax of interest rate correlations between disequilibrium and personal

 

consumptive behavior CPI – which he did not separate – to macro-economic consequences of Exchange

 

Rates and Foreign Direct Investment - which he did not separate - pliable to both short term and long

 

term indexing regarding the extension of credit to manufacturing and industries which had a tendency

 

to neglect the roles of ‘origination of loans’. The return rate of any market and its economy may be tied

 

to manufacturing and segmented in specific industrial areas and therefore useful in life of every

 

manufacturing business. You are tempted to look at the power of information system and the

 

arguments about world markets from with CPI and understand why it matters in helping a critical aspect

 

of world market which is investment.

 

 

 

We shall argue that the return of investment in any area struggling against older and senior (s-level)

 

cooperation creates the necessity to invest in key and specific areas of innovation, which for Nigeria

 

1930 – 1960, and 1960 – 1975, and 1975 through 2011, and unlike many parts of the global business did

 

not have enough home based innovation saving in rail roads inherited from colonial years. The author

 

would have added that following the problems of coal mining workers in Enugu which foreign

 

companies - so called – at a time, were hardly interested in local business or interested in compulsory

 

work options for local residents, created the problems and issues of instability. Besides these problems

 

of inheriting some industries from Britain, the author would have scored better to highlight that Nigeria

 

had political problems of instability and poverty did not arise to compete with other tensions in the

 

world manufacturing. Any form of index based accounting prior to 1975 experienced shortfalls in

 

narrating a measure of investment, for instance in manufacturing and industrial numbers after 1975 –

 

especially in the age of military leadership. The whole basis of his essays seems to serve one example,

 

that indexing and market code from any era and another, from one industry and specific manufacturing

 

group and another make the complete assessment of the economic possibilities in Nigeria and other

 

places. As such the critical tipping point in the survey is how credit reflects growth of business in Nigeria

 

and the extent several points he raised about external shocks to a system matters to economist and

 

rational investment advisement. If the credit line is useful, it is up to the external shocks experienced in

 

a given demand and supply to consider exogenous potentials and salvage any real market situation from

 

makes unforeseen events in manufacturing, credit or production, which compose the material cases of

 

endogenous shocks to any system – the repay rate.

 

 

 

One such definitive case and examples is a question of actions from a different industry and why the

 

impact on a wholly different situation of Nigerian food and drink Industry such as the Golden Guinea

 

Breweries, which could be impacted by the problems of (1) Transportation, Rail Road and road

 

construction in terms are considered exogenous factors since it has a tendency to affect distribution

 

capacity of any company or have a direct to affect production capacity. We should not assume that

 

energy as factor is a necessity for economic growth, but it offers alternative that the use and abuse of

 

energy in manufacturing is a growth factor that may likely influence the consideration of the credit line

 

and quality. Forex plays a different part – to the extent that electric power from NEPA (Nigerian

 

Electrical Power Authority) that mitigates on Nigerian productive industries and the number of

 

industries requiring energy – even nuclear energy may be expected to perform X, Y, Z of export

 

dependent economic vintage, does not in essence equals, A, B, C of credit line, and the rest of the

 

argument on why interest rate ahead of exchange rate is more important is a currency of worth.

 

We can presume that from 1975 – perhaps at the eve of the crude oil boom and five years following the

 

restitution from the East and unpaid civil workers, Nigeria as a country went through this period and

 

was experiencing new attitude from its convenient leisure class psychology but relied of new economic

 

compass to pose for the industries and enable production capacity required for reconstruction. The

 

production possibility frontiers were destined to differ, it mattered to the North that some of the more

 

trying transformations in the country required specific land mass – above all, the new found crude oil

 

energy and a currency tallied below the dollars proved a frontiers reason to impose new definitions and

 

measures for Nigeria and for West Africa. Whereas the tendency to reconciliation was not honored by

 

international press given civilian assault but it rested on how the roads in the reconstructions and the

 

broken rail road could help engineer a new spirit of production for local consumption and for

 

international market. There is energy that mitigates production for instance Crude oil production, as a

 

major source of income and alternate source of energy at the same time, the command interest of

 

crude oil and the locus standii of new industries heralded a new era and encouraged foreign investment

 

in Nigeria. Its importance we can suggest placed too much weight on the country as it divided between

 

new manufacturing complex debt repay and international hold on forex basket in an era of the West

 

African Economic Community and the reality of national survival.

 

 

 

Put it clearly, that at no point did Odior make any useful arguments about the role of Crude oil in

 

attracting companies in Nigeria and the rate at which this occurred played a major role in his essay – not

 

that matters so much but as from facts as from acts, the question of long running business interest and

 

issue of crude oil coincide to divide the whole meaning of International market and trade fair. It may be

 

common sense that crude oil as an entity could be argued to have ended the role of Brent Wood given

 

the rise of IMF in the 70’s, that instead of the transfer of international market to U.S central currency –

 

there was an international respite through crude oil which challenged the primacy of gold standards and

 

engineered a retinue of coupling with International economies – with the coming forth of Worth Trade

 

organization in Uruguay and the beginning of convergence which Europe was humping to play a part.

 

Here and perhaps elsewhere, it is natural argument that the roles of Industries in transforming the

 

better versions of world markets and economy would deepen with the energy amassed in part if not in

 

all through the cosmetic quality of the green back and the U.S dollars. Of course the prestige that Britain

 

offered the rest of world as a buying alternative to the dollars was central to the culture of economic

 

alternative that never before in the history of the Country was Britain to defend the balance of trade –

 

an argument forced through the pipes by Margaret Thatcher. None of these episodes in the history of

 

moratorium would have mattered if a correlation between investment and energy papered out easily to

 

manufacturing and employment. How well therefore the economic incentive of the buying took a

 

definitive look from 1971 is an item that cannot be missed in narrating the limits of industrial application

 

of process or the problems of local economy upon the narrow wit of forex exchange – not the intrinsic

 

value.

 

 

 

This historical enactment are very correct to offload the buying assumptions of the given demand and

 

supply or system’s complex, else, there are other reasons why dummy variables in major econometric in

 

the world do easily yield the answers of market planning. We cannot in this situation reconvene that the

 

transfer of this ideology of trade –balance of trade with the inventive psychology of industrial might are

 

high standards for problems in a third world scenario, no less repressing – no more repressed than a

 

continua of Nigerian crude oil even in time of demand and in time of quality funds rate and useful

 

economic currency. I doubt as oneiric, that energy is a serving capacity doubt in transforming any

 

economy in the world, and we can point out that the role of OPEC in diversifying the currency basket of

 

the most countries given the international nature of competitive prices and the role of Banks from

 

international currency. We may therefore reduce our evaluation of the essay to Odior’s focus on

 

Nigerian Industries from 1975 through 2011- that (1) did not point to Crude oil as incentive - not that it

 

mattered – but a failure to indicate the number of industries in Nigeria at the specific periods of the

 

country and the role of the captains of industries in geopolitical areas of Nigeria. From 1975 these

 

conditions were already set and to very recent times the argument about efficient energy system,

 

enhanced with new realities such as crude oil, nuclear energy and water supplies – including roads led

 

through narrow gates of cultural transformation but were not guarantee for industrial revolutions.

 

 

 

With that in mind the general theme of dummy variable and econometric measure – with or without the

 

incentive of shocks and vector quantities – are in this case or similar cases – part or center of human

 

consumptive energy – and has the wherewithal of energy in all classes of respect to show a measure of

 

transformation in specific period longer than 3 years and perhaps shorter than 6 years. We will also

 

consider some versions of Austrian schools in dummy variables and credit crunch in detailing the

 

premise of the spending as opposed to management or physical policies. In this case as perhaps in all

 

cases, the presence of foreign currencies, the poor balance of trade between Nigerian and the rest of

 

world is also important. The need to couple these behaviors to buying and spending diminishes the

 

exchange rate and this in turn places a stress the necessity of CPI. Although the essay show lines of

 

technical impresario, there are other matters such as cultural and technological development which is

 

the chief crux of economic improves in order of Schumpeter – for Schumpeter’s economic theories to be

 

based on his cultural philosophy are no disguise in studying a specific period of world markets and

 

business. If debt as an item is so to speak, Mr. Odior did not vitiate this Chief concern by stating the

 

impact of Rho, perhaps affecting the discount values on top of existing mezzanine.

 

 

 

Whereas most economist will look at the corresponding relationship between energy to interest rate,

 

the use of these informed sources are regarded as external factors or exogenous factors; meaning that

 

these resources could contribute to sharp declines in production capacity in any environment in spite of

 

human element and in spite of the irrational swaps of political problems that surround problems of

 

human energy. As such you can apply the dummy variables ad infinito – and in terms of curious

 

application of his papers, his systems analysis as no different from the bait that is placed on a formula

 

with risk adjusted bait, for instance a x and y, against the final product of a company and the balance

 

sheet issue of natural GNP. It is the long list of possibilities and use of variable items in year to year

 

market narrative that determine the likely possibility of price range, sustainability and levels of strain

 

and impact of price on any given society and investment consideration. These final products may have

 

started elsewhere and for Nigeria - reached Nigeria for other reasons than profit through exchange or

 

supply routes, but then an aggressive opposition against the structural force perhaps an academic

 

consensus parallel to rate of economic growth, dodges the question on benefit as opposed to the

 

exercise of meeting efficient market scenario. Here, we can add to these factors the use of x and y, for

 

instance a tendency to x is established by a tendency to y, that in my personal theory as exercised

 

elsewhere – the Riemann integral – itself a variable upon x, y dummy, shift from x to y on a compose of

 

available information, that in history so missed and perhaps stated by Milton Friedman – there are

 

middle grounds in between price and credit line, between bonds and stock market just as x goes from Y

 

– y yields to x – maintaining a momentum that hardly ever meet.

 

 

 

Use of two models increasing variable with respect to resistance, consensus and final outcomes as a

 

measure of real development or future development places the form, displacement, resistance,

 

performance at a relative correlation – perhaps in a separate graph where displacement or diffusion

 

force indexing and industrial numbers out of any period in world markets, for instance the periods that

 

meets other parts of the world, like a dummy variable and its application in Korea between say 1975

 

through 2001, in respect to Nigeria and in context influences from all classes of world markets hence a

 

regional hence a decoupling with say dollars. Consumption once more play a role and the role is unique

 

for it does to the rest of economic environment, and the separation between the operating conditions

 

of world markets and political economies take central stage. Although the author narrates the

 

distinction in market society and study – there are more promising delicacy of production capacity along

 

with consumptive behavior and PPF, in terms of manufacturing which reverts to price and the prevailing

 

economic market. These two aspects of relativity in strained economic condition is a consideration for

 

efficient market portfolios or a difference between junk bonds and Aaa rated Bonds. The short put for

 

risk in junk bonds is a risk advantage that is determined only by profit and variables are items to interest

 

and defend investor confidence in common economic disequilibrium.

 

 

 

We obviate on the theme that history explains the market conditions, that as much price has no history

 

(one my enduring personal corvette), it plays a central or partial role in common to terms with the

 

prevailing circumstance of profit drive-in – no less no different from a Haveler on third world as on Okun

 

1%. We narrate that in Nigeria – at least since 1975 Nigerian industries have stayed the course for some

 

time - that international deals signed by Nigeria and most Asian countries survived only a few years,

 

survived differently with the reflection that Nigerian production factors preeminent in Nigeria, declined

 

due to the problems of OPEC and Crude Oil, may or may not have mattered if the debts were well

 

managed. Having separate production numbers or having meaning that govern means and ways of

 

defining the production quality of an African State such as Nigerian or the Nigerian Cultural and

 

economic development programs, may require a contentious relationship between the use of variables

 

in describing a rate of interference (bumps – not huddle rate) in the economic environment and how the

 

banks perceive these rates in any singular economy. It is not wrong to suggest that part of the problems

 

associated with the feasibility study on Nigerian industries is the time factor and duration which is

 

hardly borrowed from the future or recovered in this present case from that past.

 

 

 

As such, consumption and the rate of manufacturing do always chime with the credit line but only to a

 

certain degree that we look at the glut material and regional economies, to a point that manufacturing

 

requiring additional saving rate does always chime with credit and risk, but to meet the obligation

 

considering credit lines of International Banks and International Institutions such as IMF, there are

 

perhaps issues of risk and credit value. The details of Odior’s essay would have worth the time if it was

 

spent distributing the blame to the government failure to act between the instability which most

 

countries of the world suffers from and pony issues of the destruction or replacement which

 

overzealous investors create in such a country adding the short forms of technology.

 

In extensor and perhaps in reality, the blame game on the failure of third world economies to meet the

 

expectations on any economy is an expectation; there is a question of Credit to consider for instance in

 

Africa, there are problems of political economies which for instance separates the BRIC from the rest of

 

world, to a point, that these BRIC nations - Brazil, Russia, India and China are no common political

 

economies similar to United States and Europe – but only lately struggling to meet the demand of World

 

 

 

Trade Organization. Credit as we have argued is not a manufacturing factor, credit is production, that

 

Nigeria was running at 1.00 dollar to 0.84 Naira, is suggestive that industries at the level in Nigeria were

 

not primarily total to development of the economy, informs that the development hardly saves from

 

poor market strategy – that is a quest for uniform market correlation fails in consideration – that

 

markets are sometime saturated – that above all overproduction in any specific environment may

 

present the problems of stagflation. It rewarding to therefore demarcate between the production

 

possibilities so stated from the issues of importation and balance of trade – that at some point the role

 

of government in devising the policies for these economic behaviors may also be considered as both

 

exogenous and endogenous market in a semi-colon dummy variable.

 

 

 

Nigerian crude oil created a revenue base and the revenue it generated that made the difference, but

 

excessive reliance on the one crop dash with upper handed other factors. In short introductory summary

 

of the essay before the long prosecution, we can indicate that important dispatch from this period is too

 

important because Odior did not mention the price of building industries in a Third World economy such

 

as Nigeria. That a rate of debt to presence of multi-national variable and product. We look at the cost

 

building of Refineries in Nigeria by Shell and Oil Companies to price of crude oil; we become answerable

 

external forces in the world and market information. It is this scenario that explains the impact of the

 

fall of Shah in Iran in 1979 and why the actions in River areas if Nigeria affected oil prices. If corruption is

 

not the bane of Nigeria or third world it is the expectations from crude oil and its cost that forced the

 

crude oil price to enhance a noticed spank in world markets. There were higher and higher demands of

 

crude oil and countries such as Nigeria, Venezuela, Mexico, Indonesia, Philippines and some Asia Tigers

 

such as Azerbaijan, UAE, Dubai, are wanted new facilities and new operation capacity. These new

 

refineries required money and when built from credit awarded to them by Nigeria, a lot of these

 

companies entered into questionable deals with the Government and when these Governments such as

 

Nigeria did not perform their wish, they sponsored their persons of interest in the military took over the

 

country.

 

 

 

With Nigeria for instance, the military entered into office in 1983 under very spurious and questionable

 

circumstances, but their stay in office and consequent switch from Buhari to Babangida created the

 

beginning of the end of Nigerian economic correlation to its chief source of export – Crude oil – which

 

reverted to debt servicing over their own crude oil compromised by the shortfalls in crude oil, made

 

more difficult by idiots from all and asunder who refuse to acknowledge the danger of military tyranny

 

or accept some of the blames for the attitude of the government to democracy . If the author would

 

have mentioned that the success and failure of the military era may be reduced to the chief economic

 

importance – the credit and crude oil – then it would be easily to form a better drive-in for Odior who is

 

not exactly misleading in his assessment but failed almost gingerly to connect military government in

 

those apian years to mismanagement or poor resource allocation. What are the Chief points of the age

 

of Crude oil boom and later, we may suggest that it deals with the minister for finance and economy,

 

Ngozi Okonjo – Iweala (2012), who mentioned that “In 1985-1985, when oil prices plunged to US $8-10

 

per barrel and Nigeria could no longer pay its bills, there was a brief attempt to reform the economy and

 

change its direction.”

 

II

 

In the second part of the consideration for Ernest Simeon Odior’s essays, we may consider the problems

 

of Nigerian petroleum in terms of credit lines and comfiture and may relate some of the basic analysis of

 

this period to specific economic theories of Unemployment and Job creation, or the terms of

 

consideration for Edmund Phelps in the earliest NAIRU consideration to the land of income tax and

 

national revenue for the general world markets. We would also consider the progenitor of world

 

markets in terms of Robert Solow, George Akerlof, Frank Knight and some of the early histories of West

 

Africa and Nigerian following the end of Civil Wars in 1970, and how the commentary on stagflation and

 

credit redeems and condemns some of the problems of econometric values and citations raised by

 

Ernest Simeon Odior…..

 

It is not an isolated case despite the claims of refinery producing companies such as SHELL masturbating

 

of new rigs in Nigeria, that in spite of the amount of crude oil resources in Nigeria, the debt the host

 

owed them the refineries and their coming to Nigeria, the debt Nigeria owed the world, measures the

 

rate of returns on the credit given to these operational groups in Nigeria, the debt given to the

 

operational capacity of these oil rich countries which relied on the sale of crude oil to repay these loans,

 

and the shortfalls in payment driven by crude oil prices falling below estimate which is another matter.

 

These shortfalls affected other industries in Nigeria which were falling behind because of this principal

 

reasons, and Nigerians failure to capitalize on the new and sensitive cash crop through training and

 

maintaining an elite engineering group, forced them to shrink in attracting investment from oversea, to

 

the point that Nigerians were defaulting on their debt on a permanent basis and when the price on

 

crude oil dropped – they couldn’t simply maintain the gaps.

 

 

 

According to Ngozi Okonjo Iweala short falls in Nigeria investment options began with the National

 

Owned corporations, especially a third tier corporation that forced the prices to hit the high levels, that

 

for instance, “NEPA, the Nigerian Electric Power Authority – also said in Nigeria to stand for Never

 

EXPECT Power Always – was a giant public utility responsible for generating, transmitting, and

 

distributing electricity. It consistently delivered one of the lowest levels of average per capita electricity

 

production in the world.” This could not mean implementing IMF programs in Nigeria was the right

 

course of procedure, or entertains its plausibility that IMF encourages development of personal

 

industries and so on, but the argument will be inappropriate if we shift from the immediate concerns of

 

administration of industries to something else less specific such as style of management. A measure of a

 

company’s specific development in Nigeria or in any industry was not treated in Odior’s essay, at least a

 

company to company comparison under the same environment would have enabled the rest of to judge

 

the impact of Nigerian economic and political tension more carefully, separating why some companies

 

failed and why others like survive.

 

 

 

A stone throw to Europe may even widen on the argument, that following the end of WWII – the

 

acquisition of steel for some of the material based industries endured as an advantage over others, to a

 

point that the Marshall plans that transformed Europe may be seen as systemic and specific, successful

 

because of the terms limit. It will divide on the dissent why the issues of credit and funding took central

 

place in the history of Europe and transformation. A Europe now coalesced may explain why

 

Government intervention is necessary and may add why there are transformations that can only reach

 

the market through Multi-national Corporation. A free market prairie argument is the extent of GNP

 

growth that small, mid-cap and large corporation can offer, without reaching the land of monopoly. As

 

opposed to U.S laws and interstate commerce borne from monopoly, the Interstate laws of United

 

States and inquest for MAPS – with or without respect to housing – are items that defend and defame

 

the industrial bandwidth that is called United States. It mirrors what anyone could have expected from

 

Nigeria and why some activities of these United States can mitigate the relationship between fiscal

 

planning and the role of government ensuring a fair and legal disabused attitude to investment –even

 

from savings only.

 

We use the case of Europe in re-arranging some of the short falls in Odior’s essay, that a contentious

 

separation between empire making multi-national corporation presents a separate evaluation

 

procedure from the total impact of industrial investment over a specific duration which allows the rest

 

of the world to participate in risk averse situation, with a plus on a government credibility and the bonds

 

- junk bonds with higher ETF marginal operational consideration, different perhaps from a static AAA

 

rated treasury with sufficient return rate – at least in lending than in spending. It is this connection that

 

brings the curtain to separate the extent of advantage that despite a theme and industry in any national

 

economy doing very well such as film industries, there are groups that either fail in meeting a national

 

standard or should demarcate from others of similar and other economic advantage. That point is also

 

careful for other reasons that a steel and industrial plant may successfully create a decade of economic

 

boom in Europe but there are degrees of success and failures which the individual companies may

 

probable speak off.

 

 

 

In essence, a question of irrational attitude to world market and economic behavior is a critical example

 

on how to measure the success of industries, or how Europe as a whole could simply stand or fail on

 

Steel Corporation during its unification or how well West Africa react to the issues of crude oil is

 

another. Having the ability to compare a Ghana in Crude in the last 10 years to Nigeria in the last 10

 

years, narrows down the debate over the success and failure of crude oil and the preeminent ascension

 

to industrialization which the third world economies looks forward to, does not include the barring

 

extent of specific national corporation and industries that are doing their best to do well in Europe

 

saturated with Banks and in Africa struggling with cheap debt maneuver. Although the emphasis is

 

Ernest Simeon Odior and his essay, we may continue that Dr. Ngozi oknojo Iweala indictment answers

 

the questions. In her words proclaimed for reasons to clarify that sectors review was constant, we learn

 

from her, that “In 1999, when President Obasanjo took office, a review of the sector showed that no

 

new plants had been built and no major overhauls of existing plants had taken place for a decade that

 

only 19 of 79 generating units were in operation and that that no transmission lines had been built since

 

in 1987. One fourth of the average start-up cost for a business was for private power generation and

 

virtually all Nigerian manufacturing firms and small and medium size enterprises had back-up

 

generator.”

 

 

 

In short, if the essay explicated the reasons why Korea and Taiwan pulled apart and aware from Nigeria

 

despite comparative economic vintage in 1975, the essay would earn additional merit for showing that

 

inestimable economic measures such as management style and active international guarantee of

 

participation may struggle and may not. Identifying a chief ingredient in why any of these companies

 

succeed and why is a proper motivation in showing to proof that lack of credit or exchange rates for

 

more general points of discretionary economic attitude and quantity proved detrimental for a specific

 

area of the total economy. If the Marshall Plans did not prove any more than regional reallocation of

 

profit in all economic respect, we may indicate that the total amount of remaining information, stress

 

test, momentum strategy for every trading, balance of trade in ETF populated and IPO, may be

 

discovered in Europe in the later part of the 50’s and perhaps elsewhere as Europe moved from

 

spending and reconstruction to unity franchise and to a large extent to free trade where United States

 

was generating nearly half of the total economic output of the world.

 

 

 

Transferred to co-investment, public offer, and concession 10-25 years of investment, Asset Sales and

 

liquidity commercialization are usually rounded to the last 9 years of era existence, it may seem that the

 

real question of period in the other of the investment in Nigeria, should begin from 1975 through 1981,

 

beginning perhaps 1982 through 1988, and from 1988 through to 1994, from 1994 through 2000, from

 

2000 through 2006, from 2006 through 2011 or 2012, etc. The reasons why we place 1975 as a period of

 

embarkation in studying Industrial development in Nigeria is because of the discovery of Crude oil in

 

very large quantities in the former Eastern Nigeria, which places it at the end of repatriation from

 

Eastern Nigeria following the end of the civil war, at the end of Gowon’s administration as the Head of

 

States and commander in Chief of Armed forces, and the first installment would be oil backed military

 

juntas in Nigeria beginning with Muritala Muhammad, to his assassination sometimes later, till a new

 

round of deals with refinery builders under Obasanjo which was viewed as a continuation of Muritala

 

Muhammad, as such speak for the same era till the handover to civilians in 1979. These conspicuous

 

political and military departures may not have influenced monetary policy saving that credit from

 

international baskets and Paris club which is perhaps earned from rates.

 

 

 

The failure of Nigeria to service its debt may have started from resulted sudden short falls in crude oil

 

prices, may be an example of the reasons why foreign investment tanked in the area of manufacturing

 

in Nigeria, the locals couldn’t keep up with the debt and the rate of returns so tied to fixed income did

 

not keep up with these defaults leading to a spike in forex exchange and the balkanization of Nigerian

 

Naira. Yet some of the principal captains of the industries were doing their best to keep fit, and for

 

short, even the studies on labor and employment – away from unemployment rate – can be seen to

 

prosper with greater measure and vistas if authors and complainers (economist) emphasis for the

 

benefit of the general asunder – what area and sector is mitigating against others and why these sectors

 

are doing well aghast the backdrop of others. I assume that an unraveling in economic community is a

 

theme that leads from y to x and not necessarily x to y, to a point that if the throes of determination is

 

breached for the interest of budget and planning, the factors compares histories of the alphabets to test

 

their puns in the pools and weather which of the letters assume a higher priority than others – perhaps.

 

Although the Lagrange officialdom on transmitting the limits of linearity of economic models to

 

disequilibrium, that from Jevon to the left sided materialist such as Alfred Whitehead, some of the

 

examples in the history of mathematics and reduction of intelligence to basic and adulterated formulas,

 

explains the age of the cultural history, the size of the industries and the persons on interest who we call

 

the intellectual ancestors.

 

 

 

A proof to show course is a legal as well mathematical indicia of prosecution that a Roase as open to

 

Coarse would divide to alter that in law in art, the rule of logics is reduced to numbers – each an items of

 

process explaining perhaps a period. We look at the decision of most economists to use dummy

 

variables to widen the scope of tables as a form of pathology that entails as much problems as the first

 

men and perhaps women used pebbles to organize house management. It does not appeal that a

 

poverty in Gaussian mathematically models diminishes a Movier (?) over Paschal on the limits of

 

probability, or does it shy from the weak arguments on recent market hypothesis in

 

names of Fama and in deeds of Black. In a sense, understanding a tendency to abbreviate or gauge what

 

happens to a specific interest item or study – gives us a hint of one’s pathology – does not mean that an

 

emphasis on history is prove that an expert is looking what happens to fundamental changes in the

 

market and why or does obviate that the ancestors were chartist or bond’s men perhaps. Perhaps – it

 

may seem to show the age of the brain involved, a gap approaching the summation or reduction

 

defends the assumptions that a process or strategy needs to be defended to a point of apathy – show

 

signs of sentiments or overall strategy.

 

 

 

It is not a motivation in the case to call this uniform theories of disequilibrium or a pressure to respond

 

to the dynamics of a bear market shifting to a General Equilibrium or macro over micro. It will not also

 

defend the idea that opposite which is momentum has bullish tendencies, or interacts between idea of

 

changes in the market in real time or a flow, without a modality as pathology is the opposite of the

 

fundamental or optimality requiring graphs and variables. Each stage has its redeeming definitions –

 

price and advantage and has losses and disadvantages, but disequilibrium is ultimately a personal

 

pursuit of the remote sense of happiness and satisfaction and the market like most trading places

 

determines the movement and not the companies. There are stages of these development and

 

generational pathology and it applies not to the companies in a sector – age of the sector but also the

 

political age of the economic community whose instability is usually a false justification for actions

 

primitive to accounting and corruption which is the bane of most societies. Showing the duration of

 

some companies operation in any industries may be important information in determining what may or

 

may not be a controlling factor in broking a study in specific industrial sector of any demand and supply.

 

Levels of productivity from initial success to the height of improved S-mature class for great companies

 

are psychological descendants of inquiry – but exactly to navigate the flow charts is the root of all

 

is Riemann, Newton and Leibniz, between motivation or inertia and modality. These points too is

 

missing from Odior’s essays.

 

 

 

Friedman-Phelps analysis maintains that the stage of Philip Curve is at the level of unemployment that

 

can be described as natural and non-accelerating unemployment, which Johan Van Overtveldt (2007)

 

elegantly showed that “This natural rate is not an eternally constant number, but instead it refers to that

 

rate of employment.” He refused to toe the line of thinking available from Friedman-Phelps analysis by

 

citing Milton Friedman (1976a, 228), “…is constant with existing real conditions in the labor market. It

 

can lower by removing obstacles in the labor market by reducing friction. It can be raised by introducing

 

additional obstacles. The purpose of the concept is to separate monetary from nonmonetary aspects of

 

the employed situation.”

 

 

 

The man who mostly reckon with Samuelson is Robert Solow and in so far as the recent run of interest

 

from employment through investment which are claimed to be less sufficient without innovation as

 

these men argued, we can add that short falls in the essays of Odior includes the mathematics that

 

credit and monetary policies were instrumental to manufacturing, whereas the citation in the accounts

 

that he presented points to Samuelson who made the chief arguments about the endogenous responses

 

of the dynamic system to external shocks and the regression relating to augmented ability of the system

 

to auto-repair per piece is important here, largely for names such as George Akerlof, and Robert Solow

 

who should be given the credit for suggesting that investment and credit alone could not fundamentally

 

any economy in the world. As such Credit from the beginning would never serve as the best informed

 

process of determining the performances of the industries and manufacturing. It leaves us with the hook

 

on exchange rate, and in this case, exchange rate allows the best of us to try our hands with turnkey

 

investments. A turnkey investment is investment in industries that begins elsewhere but finds its way in

 

an entirely different environment. For instance the issue of factories and their production capacities can

 

be moved from a dilapidated economic environment with lesser return rate to a lucrative labor driven

 

environment like crossing over to Mexico from United States.

 

 

 

The chief motivation is the cost of final products, largely due to labor but ultimately based on price

 

either on the final products or the final destination of these products. Here, the total success that can be

 

achieved in any environment is what price can do and how it does or does not, transfer from one

 

technological advance including the instances of assembly plant and supply chain saving a question of

 

execution, time or the duration of these loans if so granted for a process. A study that might in real

 

corner the market on specific product line in the material issue of cars – from large models and Tmodels

 

to lean cars which Toyota emphasized, is important for the essence of lean cars to lean and

 

streamlined personal computers and for the false bias and uncertain conclusion about the consumptive

 

and dependent product such as crude oil in rearing and manufacturing large and big trucks. Supply

 

penetrations enhances products, but more than anything is the facility question of accounting and sales

 

never in the considerations of the industries than the profit which a manufacturing base other than

 

production capacity may likely explain and help.

 

 

 

It is this temptation to expel the need for credit from the need for manufacture that we find the author

 

almost entirely perchance on a school not to familiar – those of money supply and questions of inflation.

 

The only reason why company or any financial institute or system dynamic such as the Central Banks

 

would be willing to release money is there are more than adequate reasons to respond to the

 

Government original call for money. If that call for money is considered expansion, it is only expansion

 

without jobs when it travels through credit, then some of Odior’s use of Samuelson’s adjustment

 

theorem and applications may hold water when transferred to Dudley Fuller. At least we have a recent

 

example in the US recovery process which is considered job-less recovery, largely based on the intent on

 

credit but may intentionally mean that the system after a period of depression can automatically repair

 

with annualized injection of money which gives some weight to credit facilities but does not always

 

transfer to manufacturing. This does not mean that the credit awarded to captains of industries such as

 

GM and GE, were requisite for overall growth of the economy, or could it said that the success of these

 

of the large conglomerate narrowed the gaps in trade deficit.

 

 

 

A different consideration of his concerns with the government improvement along with the

 

considerations of labor away from production is simply faulty, consideration of supply of money without

 

mention of the event horizon is equally wrong, that the Government from debt through investment may

 

decide to reach for money or ask the seating officials and delegates to authorize a borrowing – usually

 

from Banks or central Banks, means that these bodies of interest who do not run the Government or the

 

economy are given the wherewithal to buy all the Government securities which are redeemed facially

 

through notes. This call for money is seen through the nostrils of Fed Reserve as Money Supply (Milton

 

Friedman), but in terms of the relationship of debt to investment, debt to earn as torching final prices on

 

products is a form of debt by the federal government under the names of Hicks as of tearing price ceiling

 

or those of tax-payers such as the tax-payers cartel; the treasury. In my view, final products resulting

 

from deficit is an incremental shift to right of manufactured products, hence its definition, it is also a

 

definition of a period perhaps less than 6 years in agreement with Bawerk and need to be specific with

 

specific attitude. The other is like it, introduction of any credit lines diffused from the cost to benefit

 

ratio of crude oil or any similar exchange item to rate of money or funds rate can be specific – that is the

 

irrational aspect of human financial behavior with chief factor as Welfare and government and rational

 

with its specific investment assessment of risk and redemption – two different thing – must have a time

 

– no less different from housing programs – dies with the expectations and goals from day and an end,

 

that allows a recovery process – a case study perhaps.

 

Robert E. Lucas, Jr. Prize Lecture, December 7, 1995, MONETARY NEUTRALITY, University of Chicago,

 

USA, “The central predictions of the quantity theory are that, in the long run, money growth should be

 

neutral in its effects on the growth rate of production and should affect the inflation rate on a one-for

 

one basis. The modifier “long run” is not free of ambiguity, but by any definition the use of data that are

 

heavily averaged over time should isolate only long run effects. Figure 1, taken from McCandless and

 

Weber (1995), plots 30 year (19601990) average annual inflation rates against average annual growth

 

rates of M2 over the same 30 year period, for a total of 110 countries. One can see that the points lie

 

roughly on the 45-degree line, as predicted by the quantity theory. The simple correlation between

 

inflation and money growth is .95. The monetary aggregate used in constructing Figure 1 is M2, but

 

nothing important depends on this choice. McCandless and Weber report a simple correlation of .96 if

 

Ml is used, and .92 with M0 (the monetary base). They also report correlations for subsets of their 110

 

country data set: .96 (with M2) with only OECD countries; .99 with 14 Latin American Country.”

 

This neutrality of money of argument shows a kind in economic that directly influenced by the quantity

 

of money people, Friedman and Company, for a gentleman Lucas, Jr. who argued that maintaining

 

Welfare society is much more expensive than sponsoring free trade and industries, it looks like the

 

emphasis on 30 year was referencing a VAR housing numbers which does take into account the negative

 

bias of inflation numbers, a smart argument and sensible, perhaps a correlation between Stanley Fisher,

 

Ben Bernanke, Lawrence Summers, quantity without the endogenous and self-repairing economic

 

factors which is free from resistance such as long term housing numbers affected by APR’s current rate,

 

whereas Bank’s interest rate is not useful denominator and what was a better interpretation of

 

Friedman.

 

This stagflation or stagnation are not economic items that defames industrial expansion – or a fact that

 

more disequilibrium factor is involved and people can still make money in spite of the attitude which

 

stress induced or stress free market can invoke. Judging from behind the issue of stagnation in a product

 

industrial complex usually defer in attitude as one product defends another –a play perhaps to defend

 

Schumpeter but a reality that is not without even the laws of gravity or second laws of thermodynamics.

 

In principal, the premise of spending continues even when the companies die out, suggest that the

 

prosperity of market place may or may not sponsor the austerity of a second market, it means however

 

that product lines differ according to want and necessity – the shift in purpose is usually an item – but

 

according to very purpose of a specific product, there is a more common issue of employment and

 

unemployment to consider in understanding depression economy. I for one might contend that

 

stagflation is not an item entirely deputed by inflationary price raft but impels its interpretation that

 

such raft can achieve as much struggles with economic growth when prices are falling as well. A

 

relationship between employment and depression is a clearer litmus test than recession which may

 

general begin and end with market behaviors and stress test of premier institutions – financial

 

institution to be right.

 

 

 

From decline in prices or prepositional deflationary pressure in real time is not without controlling

 

influences of price history, to the extent of that a market situation such as depression is not an

 

overnight situation - it is a gradually unrelenting condition. There is a supply issue when aggregate

 

demand practice is usually the solution that is when supply networks meet the demands of the markets.

 

It will be important to note that both money types such as Friedman and other principal actors of

 

quantity of money who the author used to tip toe on money to other experts that guarantee forms in

 

any market condition, who would probably but totally transform enough attention and ‘wow’ missed, or

 

see the situation of aggregate demands purely from the ‘propensity of marginal growth’ which John

 

Keynes favored over the lasting issues of community growth or re-investment or other issues of

 

spending that it is close to provision of credit.

 

Although the late argument that we discover in his essays point to some knowledge of critical economic

 

solution like those of Keynes – he is not a major on Keynes, but his invocation in the piece is prove that a

 

solution in the stagnation of price mainly leading to depreciating of some world economic conditions

 

and over time like we have the great depression, the issue of duration takes comes into focus. Another

 

point of focus in the duration of credit is a sum of all economic risk and vintage which is the Vega for

 

accounting reasons, that it is possible to show that risk in economic situation due in part and at large to

 

time or return of debt is essentially outside a Rho argument – closer to delta or Vega than perhaps a

 

transition coefficient from stock market to bonds and to housing.

 

 

 

Although the general implication of money – rent or shift to housing is based primarily on expectations

 

and hedge against the turbulence in the market or what happens during currency fluctuation, it is the

 

shift from private to mutual funds than the rush to metals that engineers bumps in the market and its

 

friction, extending the decision on how the market is studied and defined over a lasting periods of time

 

is a second consideration based on the new realities of more powerful central banks such as EURO

 

Banks to member state Central Banks. The excuse to put Frank Knight and Bawerk in the contest of

 

viable market alternatives and solution does not appear in his writing but we can draw from it a chance

 

to transform some of the assumptions in the piece to a large and careful extent, and these two of largely

 

European weight, looks at Credit and monetary reforms, all of which are correct if we put in that a shift

 

from Rational economies faulted from disequilibrium can be demonstrated as a shift to Irrationality, it is

 

mainly a question of human behavior and momentum in of itself.

 

 

 

 

 

 

 

 

 

III

 

Between Friedman money supply (demand cave-in) and Keynes aggregate demand solution (supply

 

chain or burst) and there is a question of investment and growth, which is both from a manufacturing

 

perspective and production perspective. In respect to supply side economics which is not exactly the

 

theory of Surplus, we may see that investment from surplus as a sign of growth only triggers or

 

converges to CPI behavior which champions the family and household economies or Margaret Reid and

 

balances the recession from shortfalls in houses and near to long term results in the economy. Unlike for

 

instance the 2008, the housing numbers were outside the balancing comfort of CPI, and the short views

 

were so catastrophic that it created a panic requiring the Feds to deal both the long term market

 

structure and short term. We may indicate that Friedman’s idea of investment from debt – which I think

 

it’s the actual future of money from negative barriers, in favor of supply side economics trumps on

 

 

 

Hyman Minsky’s shadow boxing and demand curve than the idea of investment from debt which

 

receives less favor in terms of the duration and a specific period of time when quantity and return on

 

investment is given a local treatment, or in short essayist theorist when money shift from the central

 

banks to local banks – perhaps at the early stages of a general and situational creation of money.

 

The gain to surplus asunder is what happens in a presence of cash factor or the irrational unfound

 

attitude to spending when there is availability of cash, which happens when signs of surpluses inspire

 

irrational reaction from the worker or the private struggles with choice in plenty. Present value we easily

 

forget suffer discount to a benefit fit from a diffusion based acceptance of national rates, and here the

 

temptation to judge the performance in any economy following a spending by the M3 progenitor of

 

institutional supply rate, or dealing with unaccustomed attitude to spending – we are dealing with

 

quantity of money and not a matter of value – we are dealing with personal attitude or government

 

behavior than duration and duration is lacking – short in maturation. It is the same as premature but the

 

attitude that the ease of government spending even half the way is a false destiny of the money

 

movement, it requires the action not so much from central banks to local banks hence an emphasis on

 

interest rate or rates as funds rate which is slightly depended on the over-night lending.

 

Here, attention on exchange rate is missing from the corner stone of the author’s argument, although it

 

is listed as a deviation or a measure redeemed from deviation of less 0.5 capable of hurting the

 

consumer, that is, it has impact on the disequilibrium or individual and house hold management largely

 

on the poverty of the transition strategy involved in industrial businesses which long term assures the

 

success of policies given how many new economic groups and individuals are entering the market and

 

how well that stands against established corporation. Exchange rate considered from manufactured is

 

obviously a giveaway that some markets are better placed to mitigate on each over the issue of

 

comparative advantage, that in so far as Nigeria is concerned, Nigerian up to 2011, this comparative

 

advantage especially the primary citizen’s consumptive behavior is largely responsible for any useful

 

advancement that has been scored through manufacturing, some of which are assembly plants with

 

indexing based elsewhere and therefore outside the accounting in a country like Nigeria from 1975

 

through 2011.

 

 

 

Here’s are some examples, a Toyota Japanese automobile plant is found all over North American,

 

especially the United States, and a Samsung assembly plant is found allover United States and North

 

America but the receipts of transaction, quotes, and profit margins, are not quoted in Nasdaq for

 

Samsung, Toshiba, and variety of Sony products, but are quoted elsewhere. Although some pairing is

 

done through NASDAQ via the Vanguard but the primary quotes are done through Tokyo. In U.S, the

 

Spider Index 500 or S&P 500 is primary established for companies and business based in United States.

 

But we compare the US manufacturing since NAFTA and CAFTA, some of the Assembly plants and mills

 

in Mexico are now present in United States. There are still relied on the transfer of notes through

 

exchange commission to score in their respective registry of origins. Here the loans may also result from

 

these registry of origins and not necessarily Nigeria, that the final destinations of the products may

 

become equal to exchange rate plus the price as final retail offer for instance products entering into

 

Nigeria or turn investment which cannot take into account the credit that reaches from the

 

 

 

Government. Hence the case of credit in spite of the shocks to the system – that is if prepared from

 

national budget and planning.

 

Put it clearly, when Odior mentions that “The coefficient of determination (R2) show that only 99% of

 

variations in manufacturing productivity (MAP) are accounted for by the changes in Exchange Rate

 

(EXR), Consumer Price Index (CPI), Interest Rate (INT), Credit to the Manufacturing Sector (CMS), Broad

 

Money Supply...” he is referencing price which are final products of a functional market or simply the

 

function of any market and would be reasons why CPI tapers off on Interest Rate. In essence, the rate at

 

which products are finalized are driven by “(M2) and Foreign Direct Investment (FDI), while the F-Stat is

 

995.02 with a probability distribution of 0.000% of the F-Stat, it passed the significant test at the 5% as

 

the observed F- Statistic of 995.02estimated was greater than 4.458 (critical) at that level of significance.

 

It implies that or the result tends to suggest that the regression equation and the overall fitness are not

 

too good.” Nigerian does not have enough credit line and resources to access levels of penetration of

 

Foreign Direct Investment, saving perhaps through Central Banks.

 

It is the manufacture of any product largely for reasons of profit that the exchange rate assumes a

 

different form, and for exchange rate assuming from the title is derived from debt, which are forms of

 

investment and not necessarily credit. Here the damage to exchange rate is determined from debt and

 

are injuries from repayment of loans or rate of repay of loans like Nigeria owning the Paris club, and

 

Nigerian owning Shell and Crude oil companies tied to Dutch System and foreign littoral of Bank

 

currency. We state that the damage from the debt with or without respect to investment can either

 

transform the buying power of a local currency hence widen on its ability to create money without the

 

Government – that is allowing the general public to be part of the system - or exchange rate can

 

degrade the local production or by market definition manufacturing, by creating or becoming financial

 

nuisance in the names of long term investment whereas the system however exogenous suffers in

 

quality of currency rotation.

 

We might future push the argument that the exchange at the receding ends of a culture or a nation

 

without exchange banter for instance a crude oil banter such as Nigeria whose interest rate is not

 

scalable due to other West Africa countries, or equal to those who mismanage this cash crop or one

 

cash crop given events horizons within the endogenous events in the system dynamic may be

 

considered shocks, may seek the presence of the government to further create money through a call for

 

cash (M2) or through breaking new price ceiling (final effects) that the existing market and financial

 

institutions such as the Banks would have to release more money in forms of expansion – as if in

 

depression or recession – and would in the end, create a balance sheet problem for disequilibrium

 

individuals who may be struggling against the convulsion of a new velocity rendered through private

 

corporations and industries.

 

 

 

In essence, the release of credit in this case as unopposed to the author’s intent is an after effect, not a

 

prolegomena to manufacturing indexing, or based on the concept of receipt of interesting information

 

provided through macroeconomics that the laudable practice of structural reforms as elsewhere argued

 

by Paul Krugman can be achieved through national budget as part of a general stimulus. This does not

 

call for additional credit through Banks or special concession saving for profit or advertised interest or

 

gains, in so far that the expansion of the Government and its willingness to structural reform is

 

concerned, or in so far as the transformation of any economy can be measured – not necessarily

 

achieved – estimates through industries and their manufacturing indexes are largely dissociable from

 

numbers. For other reasons other money policy, there are reasons why the budget from the beginning

 

and these may be achieved through budget planning and fiscal policy, “The co- integration term for a

 

single model is known as the “error correction term” since the deviation from long-run equilibrium is

 

corrected gradually through a series of partial short-run adjustments. Since the variables are

 

nonstationary at levels but cointegrated, then their dynamic relationships must be specified by an error

 

correction model (ECM) in order to capture both the short-run and long-run relationships. VEC includes

 

both the long run and ECM. The Error Correction for the long run MAP equation is explained below:

 

D(LOGMAP) = - 0.039( LOGMAP(-1) - 0.0085EXR(-1) + 0.399CPI(-1) + 0.650INT(-1) + 6.705LOGCMS(-1) -

 

7.222LOGM2(-1) - 2.758LOGFDI(-1) + 13.099 “

 

(3)

 

In limelight, we might consider that speaking about manufacturing with the kurtosis of 0.5 or 0.05, is

 

reasonably ambitious, that the manufacturing is not the same as production is not small misplacement

 

of Economics, that the initially position of the manufacturer or manufacturer index could indicate its

 

origins by the levels of free trade between separate Nations of interest and perhaps nothing else. The

 

professor looks to show that CPI and interest rate may adequately help disequilibrium of private

 

interest, but we are certain that this point is either too general to the land of reasonable point of view

 

with bearing that the total view from the main point assayed by the author but missing from his piece is

 

that all financial products, all behavioral activity of the consumer are final products duct-tape to demand

 

and hence price from disequilibrium, and not supply which is industries which is advantage from supply

 

/pricing towards equilibrium. It is common sense that CPI cannot easily beset interest rate in spite of

 

frisson effect, that the ends of rates is to perform the buying functions of demand equations, ends if not

 

the whole essence of rates is therefore averse for offload unwanted momentum (propensity) from a

 

stock real interest and not through the classic variable on aggregate demands.

 

“This implies that, the adjustment coefficient (ECM) or the speed of adjustment of MAP if deviated from

 

its long run equilibrium is 0.04, while the intercept term still is positively related in the long run (13.10).

 

Also the error correction estimate equation shows that the long run behavior of Exchange Rate (EXR),

 

road Money Supply (M2) and Foreign Direct Investment (FDI) appear to have negative relationship in

 

adjusting to long-run disequilibrium given the ECM value and that the long run behavior of Consumer

 

Price Index (CPI), Interest Rate (INT), Credit to the Manufacturing Sector (CMS) appear to have positively

 

relationship to the adjust to long-run disequilibrium given the ECM value. Since the magnitudes of some

 

coefficients are large, these…..”

 

This fact is excessive and the figures only highlights the seemingly obvious, that excessive presence of

 

foreign denominator easily mitigates on any local market, and it looks to arrive its final impact on the

 

buying power of any private (individual) or in disequilibrium, since it can only be the case from a

 

negative balance sheet, that the final impact of social decision is depended on budget, perhaps meeting

 

a rational economics which makes and breaks exogenous mode lines and endogenous exposition or

 

shocks. For debt is generated endogenous from a system, but returns on investment is an exogenous

 

shock. Between the essential variable of shocks and auto-repair regression or VAR which does not apply

 

to housing. The debt as investment becomes a different matter when it travels through a fiscal policy.

 

The main is the execution of the process which is the cog in wheels of progress for many economic

 

communities and Nigeria as well. A transformation of the infrastructure can be achieved through a

 

yearly budget especially when the demand on cash crops in the International Market does not create….

 

Part of Krugman’s Great Unraveling is how the interruption of classic expansion through budget was

 

mitigated by the exceptional aggregate propensity best informed from the arguments of Keynes

 

concerning the very knack of US struggles for New Deal away from Walter Bagehot of the 1870’s.

 

 

 

By premise if not by total recall, we are looking to advertise that the whole measure of regression used

 

by the Odoir as from the original intent at marginal utility (‘Macro-economic variable and the

 

productivity of the manufacturing sector in Nigeria; A static analysis approach’) measured or metered

 

from any standard deviation of any industrial market(?), in this case Nigerian Industrial 1975 – 2011,

 

looks to impose that a tipping point is visible through this period, where the behavior dynamics of

 

consumption or consumptive behavior differs sharply enough ….Therefore speaking of credit to

 

industries or credit to industries as a way to enhance manufacturing (?) we are not so general and

 

comprehensible that individual interest in transform is easily incorporated into a general interest to

 

national and overall interest by way of Banks, “Credit to the manufacturing sector has the potential to

 

increase the level of manufacturing output as long as the demand is targeted towards Nigerian

 

manufactured goods as more money is made available to the industries to produce more. The policy

 

implications is that there are basic structures that must be put in place for Nigerian manufacturing

 

sector to obtain higher productivity, loans and advances has the capacity to sharply increase the level of

 

production if only credit lines.”

 

 

 

Electric Car California example, Retro is based on a 6 year annualized measure of credit performance

 

from A 6 Year window, we shall also make the same mistake in Odior’s essay but failing in this case you

 

use one specific manufacturing index reflecting an inception of new company and the performance of

 

the company in bad economic times, sorely mandated by debt and foreign exchange, but ultimately a

 

question of mismanagement which is really the bane of most countries in the world.

 

EV incremental operating cost

 

evt = mt (elec/eveff + gvrm* evrmfac) + battery t

 

gvt + mt (gas/gveff + gvrm)

 

where.,

 

(1) Elec = cost of electricity in $/kWh

 

(2) Eveff = Ev efficiency (wall to wheels) in mi/kwh

 

(3) evrmfac = Ev repair and maintenance costs as a fraction of ICEV repair and maintenance costs

 

(4) Gas = gasoline cost in miles per gallon

 

(5) (5) Gverm = ICEV efficiency in miles per gallon

 

 (6) Gvrm = ICEV repair and maintenance costs ($0.029 per mile)

 

So,

 

Mt = miles traveled in year t

 

B = discount factor (1/CI + .04)

 

Battery t = battery purchase cost in year t.

 

The calculations done with due respect to cost of production including ICEV repairs as minority to other

 

automobile is meant to create the analysis of ‘Present value’ of ICEV repair and to cost derived from the

 

Rand and from CARB. The composite usually carry the graph model showing dollar term differentials

 

models from some cycle or a new model with respect to an old model. The emphasis on GAS for

 

instance, is set to compare with the total amount of work put into a vehicle and the difference to the

 

dollar per each vehicle. This model may have started with Ford before RAND, but the cost analysis of

 

‘Present Value’ is set to meet Periodic lending is closer to parameter Toyota Models, which does not

 

include the EV versus Gas gosling Automobile comparative, but newer model associated with ICEV which

 

are produced by non-popular companies and the EV by the more popular 7 leading EV plus battery

 

companies.

 

 

 

The years covered were 1998 – 2002, it measures the ratio of new Electric Vehicles including production

 

time and distribution network not counting taxes and the ratio of the automobiles manufactured with

 

the constant or set time of production, distribution, and sale, or market triangle involving the

 

production of gasoline dependent vehicles and EV. These processes involved are factored into the

 

equation and in many ways than one, represent, the total expectation or demands for the product with

 

a given time and once more, and the percentile value was not based on the productive chain on the

 

biggest 7 conglomerates rather on the new EV companies with new margins.

 

Their statement mentions that “For uniform and triangular distributions, one can approximate

 

percentile values farther out in the tails by linearly interpolating between the function values at the 5th

 

(95TH) percentile and the value of the function when all parameters are set at the lower end (upper

 

end) of their ranges.” That is a failure rate at 5% or 95% perfection not unlike Tesla for good and bad

 

ratings, but general high standard with due respect to the emission of gas, narrow cost complementing a

 

5% percent initial write down with a view of perhaps a further write down given the success rate over a

 

presumed lifetime emission. There is also the issue of repeat performance which expected to meet

 

target with increment of resources (supply of money) for 2010, 2020, showing the plunge from 5% gap

 

to less than one with the 10 period. The short duration is best fitting for a region that has expansion on

 

one hand and has the issue of liquidity which new companies face – especially in umpteenth competitive

 

environment. In reality, production possibilities of any industries is subject to rigorous process but for

 

the wealth of expected turn overs from a period of expansion, there is always the issue of innovation.

 

 

 

My argument that in spite of ‘creative destruction’ of any one city with some degree of capacitance or

 

any one environment facing the stress of new plant and production house; blast furnace and assemble

 

plant, the phase of expansion is important since innovation leads to new ground, for the size of that

 

expansion and the staying power of the expansion is subordinate to innovations during this period.

 

But in respect to the estimate of the production ability and the meeting the target, the California Group

 

and the Rand Corporation compared the operating cost of EVs to ICEVs and from the comparison there

 

was the speculation that THE Big 7 companies dealing on EVs would to lower the price of their cars, in

 

other to retain their competitive advantage, especially when there are not under a lot of Credit pressure

 

to deliver on the cars. This means that the Present Value of new innovations from new cars in old

 

economy is not compelling as measured from price, that therefore expectations going forward would

 

most little be derived from total performance over a period of time. To reverse this trend, the

 

suggestion is that the cost for these cars by companies other than conglomerates is further reduced and

 

this will entail, the attempt to match or beat estimates of EV by large companies, and during face off,

 

these new companies will be expected to significantly reduce the price of a vehicle.

 

 

 

If we borrow from the sample, we discover that the challenges that several American Manufacturing

 

Sectors face is not dissimilar from what new companies in old markets face in California. There is an

 

understanding that the herding which is a competitive advantage we face in a business environment

 

permeates the initial phase of innovations. For instance, the appearing on new businesses are usually

 

poached by big corporations with long standing traditions, in fact one of the two reasons why several

 

giant companies remain in business for so long, is because of this kidnapping of new frontiers. This is not

 

always the case but when we compare the rise of a new industry in context of existing once, for instance

 

the Automobile Industry in Detroit emerging from the rust of carriages and the rail road carts,

 

experienced difficulties at the beginning and where in fact attacked by these companies until it was

 

more than obvious that the fabricated parts from steels and brass industries, may cut the cost of

 

production and revise the emphasis on trains and horse carriage, it gradually but eventually won the

 

day. The Ford Corporation introducing its new brass and copper allow car with steam engine

 

attachment, suffered losses at the beginning, but when he nearly gave he received a boost from

 

nowhere and the invitation of car companies operating elsewhere such as Europe, made the day for

 

smaller vehicles which was quite expensive but less of hassle to what it eventually became at the turn of

 

the 20th century.

 

 

 

Manufacturing is really stock and price domain, and when there is a separation between Investment

 

(price) and Commercial papers (Bonds, mortgages), Banks can’t perform credit lines for industries on

 

behalf of the Government, in essence, it must look at the performance of its local industries and

 

interest, its investment is generally a question of equity and equity is marginally 8-10% of receipt and

 

customer deposits. But as part of a general budget, the terms of expansion could have been failed by

 

budgetary requirement saving for new facilities of sudden interest rate changes forced by sharp declines

 

of forex exchange or sharp delineation of foreign exchange banter., (P.375) “The establishment of

 

Microfinance Banks (former Community Banks), Small and Medium Industries Equity Investment

 

Scheme (SMIEIS), Small and Medium Enterprises Development Agencies of Nigeria (SMEDAN), Bank of

 

Industry (BOI) should be overhauled for development and improvement in the local production. Also,

 

efforts should be made to achieve a more realistic and stable trade balance through liberalization

 

(through FDI) that will guarantee output growth in the both short and long run.”

 

This confirms beyond reasonable doubts that the author place faith in Banks as the money engines for

 

liquidity and for credit or even too much faith. He contradicts on his élan that “trade balance through

 

liberalization (through FDI) that will guarantee output growth”, where the same FDI in author’s previous

 

incarnation is argued as detrimental to disequilibrium or individual propensity, therefore dislocates the

 

roles of stock market and the investment which both the Banks and any institution could make on a

 

product for the future profit. He speaks of monetary policies as a better instrument in managing the

 

threshold of investment, but it would have done better through fiscal policies which are the major

 

platform for all government based reforms. Banks do not create credit - the Government does, Banks do

 

not create money - the Government does, and in respect to credit lines or grant of credit, it is based on

 

outstanding equities of the Banks and partial repository with the Central Banks., (P.378)“In the long run

 

as predicted and forecasted, the credit to the manufacturing sector remained the highest determinant

 

of manufacturing productivity in the long run in Nigeria, while the monetary factors; the broad money

 

supply and exchange rate would have a negative impact on the sector’s output in the long run.”

 

“The implication of excess money supply is inflation, which can be attributed to an excess of the supply

 

of money relative to the demand. Excess money supply causes the value of money to drop, which

 

manifests itself as higher prices, causing each unit of money to buy less.” Spurious….Excess money is

 

generally expansionary and the main product of price which is inflation is inflationary pressure which job

 

creation does not necessarily help. For that, excess money happens when there are spreads between

 

the money markets which Commercial Banks have little or no defenses.

 

 

 

As a consequence of the flaw of his argument, Banks are private owned corporation with license to

 

operate publicly may lead us to the part that changes that occur in any society are product of its market

 

and prices which is not directly interest rate than inflation, is primary reasons why debts are serviced

 

and why there are trade deficits and gaps, and why there are poor exchange rate which Banks unless so

 

determined for interest rate, do not have much to offer. Manufacturing is within the definitions of the

 

banks stocks, which is equal to investment where investment in this case is equal to gains from previous

 

underlying securities. Credit quality of Nigerian government and their Banks as too tar for consumption,

 

it withered on the heavy brows on international standards with the country moving from Aa to crisis,

 

there was hardly any guarantee of profit saving Government which in Nigeria did not exactly happen,

 

which is the whole reasons for the labeling on Corruption, “Higher price levels, however, will eventually

 

increase the demand for money, as money is needed to finance more costly transactions. Inflation

 

reduces the demand for money at first, but when the inflation ceases, the demand for money will level

 

out at higher level than existed before the inflation started.” Spurious

 

Bohm Bawerk (1911) ‘Handworterbuch der Staatwissen Schaffer’ (3rd Edition) “The level of the interest

 

rate prevailing in a country does not in the long run depend on whether that country has a large volume

 

of coins or other types of money, taking this term literally, does exert a certain influence on the

 

movements of the interest rate – an influence which, although not profound, is very conspicuous and

 

therefore often over-estimated, especially by the layman.” That “…then the excess quantity of money,

 

to the extent that it pours into the channels of the commodity markets, will in a well-known fashion

 

reduce the purchasing power of money.”

 

 

 

“This however needs to be reverse because as the rate of inflation rises, the value of the Naira reduces

 

and this affects the quantity of inputs (raw materials) that can be purchased, wage rate, cost of

 

machinery and also increases the price of the final product, which if it is too high, could push demand

 

from locally produced goods to chapter foreign goods which is not the best for the growth of the

 

manufacturing sector in particular and the whole economy at large.” This statement is spurious.

 

The estimate for lines of Credit which the Government does not covet on its score is based in part of the

 

underlying securities, facilities of the individuals or reliable expectations of the business thrust, and to

 

some extent new changes that could take place in any economy. “The study has therefore brought out

 

in clear terms the reason for the poor performances of manufacturing sub sector in Nigeria. For

 

example, monetary policy can account for moderate change price levels, which can cause the reduction.

 

Monetary policy positively impact is maximal and partially significant when compared to fiscal policy.

 

This shows that expansionary policies are vital for the growth of the manufacturing sector in Nigeria

 

which in turn would lead to economic growth. (References Adebiyi, M. A., (2001), “Can High Real

 

Interest Promote Economic Growth without Fuelling Inflation in Nigeria. Journal of Economic and Social

 

Studies)”

 

It’s correct only if we compare it to increasing interest rate when the economy is doing badly or less

 

than a 4% growth----.“Our interpretation of the result is that improvements in some of these factors

 

would account much for higher productivity in the manufacturing sector.” In essence it is an

 

employment argument explaining the production side of it. It is not manufacturing argument; a shift

 

from unemployment to product shows what side of NAIRU graphs or Philips curve you are proceeding

 

from. For all intent, manufacturing does not encourage credit, production does, whereas manufacturing

 

is ridden to price and estimate, it is not bound by any levels of Banks activity or State activity saving for

 

special cases of ‘unemployment’?

 

IV

 

Extra-curriculum

 

Ernest Simeon Odior and the dollarization of Nigerian naira look forward to role of foreign denominator

 

in a local economy and how it promulgates inflationary pressure. Some of his outstanding examples can

 

be said to have defined the premise that facts from examples as the examples between arguments

 

made about the use of dollars or foreign currency such as the British pounds makes the formidable case

 

that their presence in any and under any exercises of trade exchange, only led the buyer from the

 

centrality of its unit of exchange to other market forces dictated by price and currency, enhancing the

 

departures from currency or encouraging lack of confidence in major domains often create additional

 

gaps in the money market spreads hence incur real inflation rate on the buyer and the economic

 

disequilibrium.

 

 

 

We follow his argument from the last page into this second departure in Odior treating of Digital

 

Currency, that his position on the merits of a digital currency in country such as Nigeria, which is he

 

assumed by many Nigerians and by others as a solution that will check the floatation of capital and

 

inflationary pressure. The point that quantity of currency or quantity of money in expansionary market

 

policy seems to show that there is a deficiency gap in considering a digital money, slightly different from

 

Credits cards and Debit cards, to psychologically discourage the tendency to spend or expenditures with

 

respect to Robert Mundel and Harry Johnson, who see the relationship between purchase and balance

 

sheet economic unraveling as similar to expenditure or study of expenditures, which are necessary for

 

improving aggregate demands but do not have to toe the lines John Keynes even though he should be

 

absorbed of the comparison and shadowing in of his monetary policies by Harry Johnson who see

 

Keynes as fatal example of old forms of economic theories. But in the context of quantity of money

 

given the mindset of Fisher and his MV = PY, Friedman’s MV (f.) (Money velocity, compared to

 

Friedman’s money supply, may show that the two angles on both equations should emphasis quantity of

 

money where price theory is reversion to what we have.

 

 

 

The trick of this process is that a poor execution procedure in narrating Harry Johnson’s account from

 

the new reality of Mundel regional currencies, give and take on one critical aspect of all these schools

 

and perhaps why the systematic argument of the quantity theorist may not fully apply unless as I

 

mentioned from Western Union and Currency wars, that the a single in all its measure of economic

 

value is also a market quantity. For if this is true, we can see the difference between Friedman and

 

Fisher, since Velocity argued from its impact on interest rate can be considered money, where interest

 

rate which as Bernanke mentioned is price, therefore interest rate and funds rate is rate of money and

 

its velocity is concomitant to the argument about the supply of money – my demand cave – and

 

probably attributable to the early levels or stage of the rates and flows of money in action, the M1, that

 

at end of flow, there is a new level of quantity of money theory that straddle between M1 and M2,

 

which is the path created by the expansion or contraction as the underlining securities and how well it

 

stays with the return of money; the derivative, that the end of flow of rate of money, there is a

 

diminishing of the correlation between the rate of money and velocity to the money in circulation which

 

is not exactly knowable.

 

 

 

Therefore one function which is the rate of money performs it’s in the price at the receiving end of the

 

flow and velocity, for if consider that the scalar and vector quantity is added to the first rate and in the

 

upside of inflation, there is a tendency to mitigate inflation through a fund’s rate that can be achieved

 

from interest rate preceding a future money actions by Federal Reserves or Central Bank, that the

 

conditions of money to expire its flow is flow measured from the price of product or manufacturing than

 

the quantity of money redeemed by inflation or inflationary pressure, although by price theory, these

 

paths cross each other only if we explain it through M2 as equal to the supply of money, and by nominal

 

interpretation will create a bad receipt for expansionary path of a final product increasing a central

 

bank, and the propensity to leverage a system ; that a such propensity increases derivatives and options

 

as opposed to the path suffered from M2 in explicating velocity where sharp difference exist, which will

 

argue that sensitive inflationary conditions nominally decreases a propensity to leverage an underlying

 

security or cave a derivative. What we may argue also is that the conception is only good on paper, since

 

in real life, people tend to take more risk when there is little chance of profit and not the other way

 

round. The only explanation to this is what I tend to offer, that as much fixed rates are in US linked to US

 

Government bonds perhaps the case in Europe and housing numbers and mortgage linked to fixed

 

income without necessarily torching permanent money.

 

 

 

 

 

A permanent money, is best explicated through the social security and savings theories of pension,

 

championed by Martin Feldstein and Franco Modigliani, and James Tobin, which not only argues for

 

continues injection of money into the system dynamic such a permanent income of distributive income;

 

Social Security and Pension, gives on a bright side some incentive into the rate of renting, purchase and

 

housing numbers. The only way we can understand that the market rate of houses is through

 

permanent income which I relocate to distributive income from social and government pause. This rate

 

is the rate of actual money since the new income bracket do not flight in the face of new real estate

 

which is half the life of presenting a new building or real estate, whose measure is started in the

 

discount of the future money through underlying credit of a first acquired, which is based on current

 

return rate with APR abiding from any lender even the ‘last resort’ of it, that a rate of rate abated on

 

FICO estimate as from fixed income showing current jobs, does not incorporate the opportunity cost of

 

losing the job in nearest future, does not include the price of the future market in 30 year bell weather

 

and mortgage rate, that at 30th year for instance, a house acquired and lived through incorporate new

 

measures which the original owners may no longer afford.

 

 

 

As such the estimate from permanent money which exists mostly from Europe example is how much

 

any real estate could cost when there is payout from a government cost measured in market rate of real

 

estate. All of these processes is the thirty year sickness or mortgage that cannot fit into economic

 

systems but borrowed without physical cash but on the understanding that the owner must to live, then

 

until the money exhausted, the issue of digital money is therefore future money and has no meaning or

 

participation in the current shocks in the system saving for serious cases of final flow or end of flow, a

 

bad argument that can only be understood from quantity away from M2.

 

 

 

The tendency to percolate the currency of the life of mortgage is no only the exponential growth rate of

 

the APR over the same house, which leaves you paying more than required, that there is a reserve of the

 

original price which is sold at discount from the beginning and was therefore intended not to serve a

 

profit in short term for the house owner. This is going by the interpretation that is equally possible when

 

we but when there is flipping of houses, selling and buying new houses, multiple acquisition of houses

 

by a single entity, the expenditure issue becomes a problem, money will not be called a single entity but

 

a credit of entities, as such the physical quantity of money, even for a digital process has little to offer

 

when there are activities in an industry that is outside the propensities of available money. Saving is an

 

investment when there is digital currency, savings like we find in China, is an advantage there return of

 

rates that has nothing to offer to activity of the economy.

 

 

 

If Mundel theory is granted additional meaning and drastic economic measures, it is only in the aspect

 

of digital currency since the money velocity (Fisher), supply (Friedman) and propensity (Keynes) may no

 

longer apply, what we therefore experience and consider is the final measure is a reversion to savings,

 

saving by private with or without hints of further rewards in any demand and supply. The estimate of

 

risk involved in lending can be carried over to the propensity to spend when there is quantity of money.

 

The main reasons why the ‘Project Cure’ was slated for Nigeria is to demote the fast pace of the

 

balkanization of Nigerian Naira, a currency I for one is arguing needs to be re-evaluated to salvage the

 

currency from the current precipice on which it stands.

 

 

 

Ijeoma Nwogwugwu, The Battered Nigerian Naira and Project Cure, “If the naira is stable and can serve

 

as a store value, there will be no need for people to convert the naira to the greenback. It is irrelevant if

 

the CBN prints the N5, 000, N10, 000 or N20, 000 banknote; insofar as a banknote cannot guarantee

 

value, people will always convert it to currencies that do so. The primary reason individuals or

 

institutions resort to dollarization is because, as the reserve currency of the world, it offers the greatest

 

store of value, not for ease of carriage or portability.” Sept 12, 2012. We derive from her argument that

 

bank notes cannot guarantee value which is not necessarily hers, but used appropriately here and for

 

that some issue regarding the quantity of money is best observed. The propensity argument is slightly

 

aged but necessary makes and break on the need to have less money or digital cash-less money

 

transaction, although the physical quantity argument will no longer be in effect, “Lastly, from a cost

 

perspective, it remains to be seen if the CBN will be reducing the cost of cash by restructuring the

 

currency. The central bank, last week, in paid advertorials, showed that the cost of printing and minting

 

currency notes and coins had fallen between 2009 and 2011 from N47.141 billion to N32.627 billion.”

 

 

 

In a Brief overview on the Central Bank of Nigeria’s proposed currency restructuring exercise Speech by

 

Governor of the Central Bank of Nigeria, at the press “Project Cure”, Lagos, 23 August 2012, Mr Sanusi

 

Lamido Sanusi ; “I am delighted to brief you today on the CBN’s proposed currency restructuring

 

exercise, which we have code-named “PROJECT CURE”. As you all know, one of the core mandates of

 

the CBN, like monetary authorities across the world, is the issuance and management of the legal tender

 

currency. This implies that the CBN is responsible for the entire process of currency production and it

 

includes the following elements: design, production, storage, distribution and the disposal of unfit

 

banknotes.” His citations make it into the essay going at the root of his reasons for the action that he

 

took, although Nigerians inveighed against it especially the instigation bearing quantity of money clause,

 

there are some academic reasons to hint that Nigeria needs an administration institution for Bank and

 

Banking and inaugurate a similar Bureau for Economic Research like US NBER. When these operative

 

associations are available, it becomes much easier to test the waters with interest and other fund rates

 

before proceeding.

 

 

 

Where a lot more argument on there is need for Nigerian market to expose its diorama weights, it looks

 

permanent to measure out that the lows perceived by many others of a South Africa removed from the

 

top by Nigeria, would or perhaps may not last, that in so far as the markets are concerned the majority

 

of the advances in Nigeria through the internet resources and through the sequestered banking

 

resources like those available in Nigeria arrived there easily through South Africa. In pivotal inferences of

 

the range of possibilities that is meeting for a connection from Europe to South Africa as opposed to

 

Europe via Portugal which is the preferred logistics route instead of South Africa, that domain market in

 

a West Africa may in fact hasten the Atlantic Crossing and their bids for and against the only whole

 

internet company Tata, the latter is believed to be in league with Nigerian cell phone industries hence

 

more position to look at the Cogent and South African companies including the SEAMAN which needed

 

to expansive co-operation of South Africans to line East of Africa, whereas Nigeria and West Africa was

 

ahead of the curve and was by 2001, already the main event in the Industry.

 

 

 

According to Sanusi (2012) “An important component of our responsibility is ensuring an optimal

 

currency structure in terms of efficiency, cost effectiveness and balanced mix of various denominations.

 

It entails the CBN being responsive to the changing needs of the economy and keeping pace with

 

evolving trends in contemporary currency technology-world. In addition, in line with international best

 

practices, monetary authorities are required to review their nations’ currencies at intervals of between

 

five (5) and eight (8) years: S/N Denomination Date Restructured No. of years 1. N 10 December 1999 1

 

2. N20 November 2000 1 3. N50 April 2001 1 4. N1, 00 October 2005 7”, WE…..

 

I tallied this event to what happened to the investment of a Nigerian Bank byname First Bank, which

 

expanded at the same as other Bank, enjoyed profits with a share of losses like others, but for reasons

 

of their own, First bank suffered the most. Apparently, the width of expansion of FIRST Bank in Nigeria

 

was wider than the rest, the age of their investment was older than the rest and their penetration was

 

more legendary in terms of Market Nigeria that with events horizons of 2008 and already incurred

 

inflation, the total losses were a result not so much from expansion of the credit due to crude oil prices

 

but a deeper mezzanine debt tranches that were either out of money in the course of life (duration) or

 

buried in the circumstances of the financial kamikaze in spite of the automatic self-repair.

 

A re-domination of that currency may avail these Nigerians the highly prized inception of foreign

 

interest with immediate and direct acceding to West Africa and Bay of Fish where the Naira would more

 

than likely play its ultimate cards.

 

Technologically, Nigeria may meet the requirement of digital money and surpass South Africa as much

 

of the world would accept, but the demand for co-operation between South Africa and the rest of the

 

world, open and closes on this same issue that when Nigeria wakes up from its current slumber, the East

 

and West Atlantic Crossing and Internet bubs and ports will forever operate outside the reach of these

 

Nigeria. Looking to feature the lines of production such as Project Cure from the rear-view of the

 

businesses that attributed this rounds of 'dollarization' which is bad – even for the Americans – for

 

American dollars is only useful and can be said to be useful when it is used as banter for currency

 

exchange, for only the can it mitigate against a local market exposing its weakness on one hand,

 

promoting the American dollar statuesque. I coined a new splitting of the process ‘Currency Wars’, a

 

coinage that some have mentioned existed separated, but when meshed with the price corruption

 

which was self-defined from the weight of analysis into the Europe and its Bank savings, and how

 

European savings and investment were all wasted in less than a decade sure common applause of

 

inflation which were naturally occurring.

 

This is what I described in kindly light as price corruption, which is the square root for currency wars,

 

that the presence of future currency (currency progressing with its markets such as the Euro and the

 

dollars) should not be allowed to enter the Nigerian welter weight market bare and naked or simply

 

unaccompanied with the sale of crude oil or denominated and originated foreign direct investment

 

(FDI), that sending for instance U.S dollars or Chinese Renmibi to Africa without the land of exchange

 

and exchange rate, that is sending dollars from new York to Africa to be picked in dollar term, was a

 

mitigation against the currency and a polar tug for its local market. For every US dollar redeemed

 

through Western Union or any Bank of interest in Nigeria, or in Africa, or in Mexico or similar such

 

countries of the world, to be picked in dollars, the currency being a commodity no different than food or

 

manufacturing products, suffers a trade deficit which widens without their knowing it, leading to

 

Balkanization of the currency and inflation edging away from the axis of the exchange rated piece such

 

as Naira.

 

 

 

Here as the deal, if 20 billion dollars move from Nigerians and Africans anywhere in the world to Nigeria

 

or Ghana, it is considered a form of investment by these receiving ends of the business. But this is a

 

trade which the inability of Nigeria and Ghana or any other West Africa or South Africa to send their

 

own currency to United States to be picked up in Naira (Nigeria) or Cedis (Ghana), or any nation that

 

that have their nationality physically and fiscally active in the United States, send or engages in

 

transactions with US dollars to their countries of origin, stands to widen the wealth and power of the

 

dollars, but when the dollar acts like it does in Nigeria, it becomes a predicate for that economy, forcing

 

a first world market and standards to apply in a Third or International markets such as Lagos, what we

 

experience is an undesirable damage to the local unit of exchange and a depreciation of the local return

 

rate of products manufactured in these countries.

 

US as a Super power in the world, not unlike English or Britain and with Chinese relaxing their business

 

and immigration policy, these currencies like the French and the Swiss, will always have a future market

 

in its currency niche and may future return rate – hence a positive economy or investment. It’s Nigerian

 

capable to granting a stasis for the economic bandwidth of West Africa and Africa which they champion?

 

The answer is yes, that in spite of the absence of the Canary Wharf in Nigeria, in spite of the absence of

 

New York and Chicago International mercantile currency basket, in spite of the fewer number of foreign

 

currencies other than the dollars trading in Nigeria and freely, that its perform based expectation of

 

future market through forex or other exchange bias, can be usefully realized from a re-denominated

 

local currency. Secondly, by emphasizing local currency ticked to the Naira in spite of all argument these

 

Banks are making, that all currencies are by exchange careening equal to a final products, and like

 

canned beans, rice and tomatoes, a specific foreign denominated currency is simply and ultimately a

 

product similar than the once mentioned but marketed separately. There is no doubt that a liberal

 

attitude towards foreign denominators may undermine the weight of currency price index. From Forex

 

perspective, Nigeria as an International market, rank through the third tier, characterized by local

 

frontier and by conversion rate which does not the need the Bank. But the wealth of resources which

 

are possible through this range of businesses may confine some of the more endearing composition on

 

the subject to Forex in relation to other parts of the local West African Market.

 

 

 

The re-evaluation as part of the attempt at dollarization would by condition of its existence consign the

 

new attempt at digital monetary rotation of Nigerian currency into oblivion, for if the re-denomination

 

of the Naira is achieved, quickly and on time, the new and nearly responsible attempt at buying back the

 

Naira with stated crude oil and cash row currency such as the dollars and the Europe may not be

 

necessary. It is natural that Nigerians object to the physical presence of dollars or any other currency

 

saving where they belong – the Banks. It is common sense to mention that the use or abuse of dollars in

 

Nigeria by Nigerians from USA or from elsewhere, or by Americans visiting Nigeria or others can be

 

better met with a greater appeal if the currency rate – at least for now is offloaded from military

 

problems and credits panache – to a less than 00 re-denomination. Of course the papers for the

 

prospects and oppositions to the statuesque are not yet fertile or the government shown a kindly

 

affiliation to such research as 'dollarization' and Project Cure, or sample opinions on the merits of a

 

re-denominator in West Africa and in Nigeria removing as Charles Soludo suggested, the 00s from the

 

current mark to paper Nigerian Naira. As opposed to Ngozi Okonjo-Iweala and her refutation of the

 

Nigerian Naira re-denomination or her ameliorating examples of ‘Reforming The Unreformable’ (2012)’

 

lessons from Nigeria mainly administrative, management based history of the transformations going on

 

Nigeria.

 

 

 

 

 

 

 

 

 

Essay II

 

Feb 3 2015 (September 21st 2015)---Buhari For President.

 

Edited September 21st, 2015

 

By

 

Sampson I.M Onwuka

 

 

 

The aim of presenting APC’s candidate Mohammadu Buhari in the light of current national discourses is

 

to show that he is serious about his Presidency that he is a capable man as much perhaps as anyone

 

running for the office of Nigerian President. He is running for the office of Nigerian President along the

 

Professor at Law, Yemi Osibajo. The financial weight lifting has come from several places, but in terms of

 

the intent of the man in office and the aspirations of the North in what may be considered an unfinished

 

business of the 85’ coup, there is a question of Buhari and what he really is.

 

There are lots of issues at stake in Nigerian elections and one of which is the issue of security which

 

under Buhari as Military Head of State of Nigeria from 1983 – 1985 was performed to the point of

 

denying people’s rights to free existence. This freedom from the perspective of a soldier has limits of

 

application, especially when Buhari is involved. It is correct to mention that Buhari more than any active

 

Nigerian politician and perhaps IBB, has been involved in all classes of Nigerian military and political

 

Transformation and is perhaps baying for a legitimate opportunity to be president from the wealth of

 

his experiences.

 

 

 

Was it Buhari’s luck to advance against a PDP political machine, perhaps it was, most perhaps it was

 

not? How then shall we begin to present an argument on Buhari as a political force whose gravitas can

 

fetch the presidency or fail in efforts for trying for so long? Perhaps Buhari is not political in career sense

 

of it; perhaps he was part of encyclical that determines the dimension of revolutions in any society and

 

not necessarily the political round table. Played backward, Buhari would not suffer his career to be

 

understood in the light of a people that see him different, for if the calls of Sarduana of Sokoto for the

 

new and young co-operative cadre to improve the new look of Muslims affected him, he was not alone

 

in his expectations for the North.

 

 

 

BUHARI may be argued to have made more public condemnation of militant group ‘Boko Haram’ and is

 

said to have officially condemned some of the assumptions about the State of Northern leadership and

 

the interpretations of Islam. Buhari has not done himself any good since his 1985 ousting from office by

 

Ibrahim Babangida who was his minister for defense. Since the incident he does however appear to be

 

politically anti-social, or has been known to lack personal audacity to indulge the rest of the society. But

 

in the years of isolation from office and from Nigerian military apparatuses, he is credited to have taken

 

himself and his family away from politics, whereas feeding his family would be considered a national

 

item, there are less and less evidence that he has benefit from office than others or could it have

 

mattered.

 

 

 

Nigerians have not has not taken his political view too seriously for how else could they have accepted

 

that if Buhari was only recently publicly inveigh extreme militancy or Islamic tyrannical groups following

 

the adoptions of the Nigerian Girls at Chibok by Boko Haram. It must be clearly stated as well that

 

Nigeria in terms of the resources available to it and the sensitivity to power deserves all kinds of

 

considerations on who is really working in their interest of Nigeria and where such a person can be

 

trusted with such powers. With or without invoking the past which taints Buhari in association, the

 

military years during the Nigerian Coups and counter-coups in Nigeria are no product of personal

 

consideration, they are facts of life.

 

 

 

 

 

 

 

Boko Haram cannot serve as the mantra to gauge the limits of a Buhari in office, yet it is a Vernier

 

caliper in breaking to rest some of the problems encountered by these Nigerians in dealing with Islamic

 

Insurgency. For Buhari, who may or may not have known about the incident of the Boko-Haram since

 

2001, that the group remained a sect for their right, seeking to emasculate the popularity of new Islamic

 

conformist and pushing to transform the North into a political anti-party to a currency available

 

anywhere in the Country, described by some as religious institutions in forms and names of revolution.

 

The failure of Buhari to have taken the mantle of leadership in suppressing the dicta of Boko Haram

 

exposed him to daggers of being a sympathizer, a claim which remains ominous of his religious

 

impresario, that from all acts performs during and after his 2 year in office still exorcises the apparitions

 

of the terror even it was not nearly the case.

 

Since independence, Nigeria is still grappling with its image and play with straw trying to forge images of

 

a nation grappling with itself. It needs not be mentioned that Nigerians and indeed many Africans are

 

looking to forget some of the names that made it to the office of the President. Among the names

 

Nigerians need to forget; Sani Abacha, Ibrahim B. Babangida, Theophilus Danjuma, includes now and

 

perhaps for other reasons, Mohammed Buhari. History is fortune to those who remember and those

 

who observe, but no eye witnessing of exfoliating of the political years of Buhari would have prepared

 

any Nigeria for the problems of Boko Haram, an insurgency that rings through the fears of the intifada

 

between the North and the South, though the sea has thawed and day breaks for Nigerians and their

 

politics, historians struggle and will perhaps struggle to vindicate Buhari on his excellent services.

 

=-=-

 

His lack of publicity deserves a special consideration at least to me, that at least in writing – his lack of

 

published writing and publicity appearance and engagements, is what GEJ has discovered long ago to be

 

a cog in his wheels of political progress. For sure, a dispassionate observer will tell you that Buhari has

 

no reason to expect votes from a population he is not willing to indulge in any class of discourse or

 

socially engage in spite or for spite of his image and self-respect which does not in action amount to

 

self-preservation.

 

 

 

Lack of personal confidence and the problem of Northern leadership may have given new

 

and perhaps psychology restrictions on Buhari, that Nigerians far from North or Nigerians in the North if

 

may have problems deciding their political loyalty. No one in the last 30 years in Lagos and Abuja could

 

be said to have toed the discipleship of Buhari, or his political views in West Africa proved uncertain.

 

If history is politics, we can all agree that one man that understood the circumstances surrounding

 

human power and its ability was Obasanjo, an ex-President of Nigeria, who in spite of the mud and foot

 

of clay in rational political decisions of the country, can still win votes in the Northern Nigeria and in the

 

East. That he is occasionally involved in one show of support for Yorubas is a consequence of uniting a

 

new Government and a new republic from an old.

 

The consciousness is not only political, it is also religious. Perhaps and only perhaps when these facts

 

and religious rights are placed within the definitions of property places more faith on wealth, personal

 

wealth above the property of national interest becomes primary. This is a systemic problem made more

 

sinister with the age of military powerhouses (Dinka, Murtala Mohammed, Gowon, IBB, Abacha, Buhari)

 

baying the loss and death by murder of their leader by Amadu Bello who was the Sudauna of Sokoto.

 

To some extent that many Nigerians are no longer willing to accommodate the past – even for the best

 

of us that still write back to the empire on the merits of a new society and the rewards from experiences

 

which Buhari could bring to the Country. We were wrong about Obasanjo and his military and

 

intellectual reserves for Nigeria, his suppressed personalities during persecution eventually showed up

 

and we have inherited some of the problems on his administration which brought the new age of

 

militancy in the North and the renegade self-defenses in Riverine Areas of Nigeria. In South East and

 

ever so slightly, the victim of these years and Obasanjo unleashed his pejorative behaviors towards

 

Nigerians who were fooled into consolidation and Aba for the fun suffered in quality and in business and

 

inherited the issue of kidnapping and reparation which was never part of its existence.

 

 

 

It is this fear of who and how Nigerians preserve of this Buhari, whether or not he seem to have been

 

cleaner and fairer than his compeers that motivates them towards a fear which then as well now is not

 

unfounded. Perhaps this is not the case in many parts of the Nigeria especially in the South East, but

 

little has been done to earn the rights of GEJ re-election in many South East let alone South-South, does

 

not mean that other parts of the Country is not working hard and less demanding than they, but there

 

are long standing issues that has not died and need to be handled as a way to bridge the gaps between

 

the problems of governmental gangsters and the issue of the self-defense which MEND brought itself to

 

bear.

 

 

 

Amadu Bello presents a motivation for personal motivations of Buhari, for in terms of the man, the

 

meaning and age of corruption, some argument may be made against the long and intermediate lines of

 

Amadu Bello, who was Sarduana of Sokoto. The problems between him and Nnamdi Azikiwe and the

 

contentious issues of power and failure of the North to recognize a leader from the South or the East on

 

the premise of religious devotion of a Muslim and Infidel others should not dictate to the Muslims on

 

how to manage their country. This cannot be argued as the total reason for Nigerian Military

 

intervention in Nigeria, or explain why Nzeogwu’s commitment to the coup was not without the sacking

 

of rail road workers under the orders a young Northern Nigerian leader, Sarduana of Sokoto. It could not

 

be aid that the rail incident prolonged unemployment and eased an early death of his father.

 

This story is confirmed elsewhere ‘Hot money’ (82), but concerning these men as we come understand it

 

who includes IBB, Buhari, Abacha, Mohammed, and the rest, produce a long picture of why corruption in

 

Nigeria remained a foreign legacy and the deep penetration of Lebanese in Nigeria, especially their roles

 

in exploiting the Niger-Delta and Foreign Federal Accounts, is evident in the death of Ken Saro Wiwa

 

during the era of Sani Abacha.

 

We can now supply the answer to some of the issue of Nigeria and corruption during its oil boom,

 

between the Persons of Buhari and IBB, that it was part of the problems constituted systemically from

 

the early political years of Nigeria which many still harbor suspicions that it is still in many ways than one

 

very visible in the life and existence of Buhari who is a last trace of older regime. The Country may have

 

gotten over these early beginnings but the language of peace and comradery between the North and

 

South, especially the old East has no produced nothing but unprovoked aggression that the Northern

 

Nigeria has never understood a society that is ruled by force is a virus that Amadu Bello should have

 

buried and killed, and he didn’t any more or less than perhaps Buhari who is not Amadu Bello.

 

 

 

There are approaches to power and when given the total and more demanding interpretation; there are

 

very little gaps between gangs and hoodlums, between the Military Cadre of most auspicious type and

 

problems of Boko Haram and in limelight, the examples of Riverine reactionary group who took the

 

amnesty from past Nigerian President. Digging from recent insurgencies in the North which has no merit

 

towards disposing political transformations from the North as from the aspirations of these Northerners,

 

such military excesses means harm to the chances of winning the Country for the North as part of the

 

negotiated interest of Islamic Insurgencies in Northern Nigeria. But if we place the onus on this act from

 

incidence involving Buhari and the Northern Nigerians, we are victims of our imagination and hopeless

 

in so far as the wish for a better Nigeria is considered. Yet this disposing of the second meaning of

 

electing a APC candidate tainted by the past, leads closer to the temptation and judgment of considering

 

a possible future from personal and individual complexes in Nigeria and the complex of self-defense.

 

Charles Soludo recently defended himself, “I note that when I assumed office as Governor of CBN, the

 

stock of foreign reserves was $10 billion. The average monthly oil price during my 60 months in office

 

was $59, but foreign reserve reached the all-time peak of $62 billion (and despite paying $12 billion for

 

external debt, and losing over $15 billion during the unprecedented global financial and economic crisis)

 

I left behind $45 billion….My calculation is that if the economy was better managed, our foreign

 

reserves should have been between $102 –$118 billion and exchange rate around N112 before the fall

 

in oil prices. As of now, the reserves should be around $90 billion and exchange rate no higher than

 

N125 per dollar. Third, the rate of public debt accumulation at a time of unprecedented boom had no

 

parallel in the world. While the Obasanjo administration bought and enlarged the policy space for

 

 

 

Nigeria, the current government has sold and constricted it. What debt relief did for Nigeria was to

 

liberate Nigerian policymakers from the intrusive conditionalities of the creditors and thereby truly

 

allowing Nigeria independence in its public policy”

 

We may also cite the story about Wole Soyinka and his interview in 2014 comparing Buhari to Shagari -

 

as re-iterated in a January 2015 interview, that “Shagari’s NPN had already run out of steam and was

 

near universally detested except of course by the handful that still benefited from that regime of

 

profligacy and rabid fascism. Responsibility for the national condition lay squarely at the door of the

 

ruling party, obviously, but against whom was Buharis coup staged? Judging by the conduct of that

 

regime, it was not against Shagaris government but against the opposition. The head of government, on

 

whom primary responsibility lay, was Shehu Shagari. Yet that individual was kept in cozy house

 

detention in Ikoyi while his powerless deputy, Alex Ekwueme, was locked up in Kiri-kiri prisons. Such was

 

the Buhari notion of equitable apportionment of guilt and/or responsibility.”

 

Did Wole Soyinka mention some of the atrocities against the political interest of proclaimers of Biafra

 

Republic, even if it was a motivation (movie) for something interesting, some of the leaders of the Biafra

 

Republic were killed and maimed during their meeting, and Professor was cast into a long spell of

 

Uwechue detention? It is understandable that people should not call for a different nation if that’s they

 

did, rather having a form of reasonableness of administrative of office is still a conditional process that is

 

perhaps still questionable but does not call for lethal actions. Under Buhari we could speak of welfare

 

state or its origins, and like the Americans they was “war of poverty” “war against indiscipline”,

 

propagandist education for all between 1983 – 1985 which are the highlights of Buhari administration.

 

80 | P a g e

 

There was a form of reconnection to Gowon with a measure of authority but it looks as if the plan to

 

transform into a Socialist or Communist economy somehow lingered in his administration. For strong

 

leadership it is impossible to deny that Mohammad Buhari is not a preferred choice over Jonathan, and

 

for economic prosperity and the issue of discipline, Buhari will go down as one better Nigerians to have

 

managed the Country. Does that mean President Goodluck Ebele Jonathan it’s any weak. He’s NOT; his

 

strength however shows up in different forms and less interesting places such as Campaign for office. If

 

half of the energy is applied to the problems Nigeria is facing, he would emerge the best president of

 

the Country yet.

 

 

 

At least, the dictatorial leaders of Buhari is not so much a factor as the issue of actual military coup in

 

Nigeria where he placed the President and his vice in jail and for indefinite period of time. In some

 

measure of academic reassessment of Buhari during his period office, there are hints of remonstrations

 

among the Nigerians on corruption. As such we could be tempted to separate facts from process, that

 

the gaming of Soyinka, who categorized Buhari’s sympathizers as, “Those who are intellectually Blind,

 

(2) those who are blinded by ethnicity (3) those who are blinded by corruption and therefore afraid of

 

the unknown; should power change hands, and finally, (4) those who are suffering from a combination

 

of the above terminal sickness.” While those who are reading from this attack will not fail to recognize

 

the persuasion from parsimony or the politics of the late 70’s and early 80’s we suggest that historical

 

re-enactment of this era, cannot show how the injuries of the Civil War impregnated the understanding

 

of Soyinka or how the whitening of his hair by age and its phenomenon has labored his reasons.

 

But he is usually right, for how could anyone forfeit a two year incarceration for his opposition against

 

the activities of the Nigerian Army in the Eastern Nigeria. If as the saying goes that ‘the man died’, it was

 

not for the freedom that Democratic freedom brings to Nigeria but perhaps for his two years of

 

incarceration by mostly Northern Nigerian Army. Elsewhere, the question on who really put him in jail

 

and why it’s still a hung jury, but of course these forces parade the remaining days of his active life,

 

perhaps like someone’s favorite quote from Soyinka’s book, that “The man dies in him who keeps quiet

 

in the face of injustice.”, Soyinka, speaks perhap his mind on Buhari, vaunting against his political

 

campaigning and Buhari’s voting chances. Perhaps, now unlike then, we consider the dispatch from his

 

youth as an essential canon, no more relevant than the person who becomes president since ‘the ends’

 

in office justifies ‘the means’, therefore the history of the persons of authority may assume a new and

 

fatal meaning when placed in that office and not the other way around it.

 

 

 

Politics away from power is a nuisance of a great unraveling which is no different Nigeria than anywhere

 

else, it is fitting to demarcate between grandiose intellectual pursuits that ends with no advances for or

 

against the interest of a motion than the politics of history. It is political to argue for Buhari, political to

 

argue against Buhari, much more political to vote for either Buhari or against Buhari, perhaps voting

 

against the opponent is one way to widen the broad stroke of voting landscape. It is not enough to vote

 

for any man or woman interest of choice, it looks plain enough, that a vote one direction is equal to a

 

vote not in favor of another.

 

Such a position can actually change anyone and power explains its origins in the vessels that wills it and

 

not by appearance like David and the seven sons of Jesse in nominations by Samuel. To be Frank, what is

 

going in the Country at this point it’s beyond the badge that we should place on Buhari? It does not

 

mean that he is a right choice or on the right, it does not explain why President Jonathan is the right

 

choice either, and it gives meaning to the Buhari year’s 1983-1985 and GEJ’s of 2000 – 2015 and why

 

there is election in 2015.

 

 

 

Chinua Achebe ‘Once There was A Country’ (2012) did not emphasize the total damage Sarduana’s

 

ideology brought to Nigeria. The book levitates on the influences of Amadu Bello among the Ijaws where

 

they were split between the loyalty to Nigeria and the first Coup of 1966 which saw the death of Amadu

 

Bello and on the other Northern reactionary tendencies that mitigated the power complex of the mostly

 

but consequentially Igbo-led military coup and administration in Nigeria.

 

We are looking at the edge of the deciding political force whose sun has no being let to shine, for yet a

 

consideration of the nearly acquired meaning is given to this man and his office so far, we would have

 

not failed to whispers of a struggle to exert himself if a career that was no meant for him. Politics like

 

engagement it’s a career, and pursuant to the meaning and reward and fulfilling of those is the lack of

 

debility of the sun. Was his light to shine in politics perhaps it would make some sense when compared

 

from the premise of his years in office?

 

It may suggest a kind of faith in a system or in people who can exercise wisdom or so expected to do the

 

right thing even it means losing the elections. If we have no faith in others or no form of connection to

 

their request we created a hole without knowing it, and at inquest as for voting, we have lost the fans

 

and general citizen. Images of loyalty and common sense would gradually worth nothing and in the end,

 

such persons as Buhari can be excused in the altar of presidential elections or given his chance to try.

 

It will impossible to deny that for nearly half of a century, these names mentioned above have not more

 

than occupied the central position of Nigerian politics, for better management and not lack of goodwill,

 

their administrative comradery nearly sunk Nigeria into abyss of incompetency and confusion, riddled

 

piece by States with confusion and poverty. Instability is the root of all confusion and more than

 

confusion is the issue of uncertainty, uncertainty welcomes the move to secure a future through a past,

 

perhaps through wealth already stored or through public funds and embezzlement. If the military

 

intervention was set to sponsor the culture of stability in Nigeria, this primary duty of the Nigerian

 

military could not be said to have worked its magic in the military years or could be said to have

 

engineered a future that puts Nigerians first.

 

 

 

We write therefore with regard that if perhaps, conscientious participation is the ire of responsibility,

 

within its garment of humility may swell the hints of pride which perhaps die without oxygen

 

Essay III

 

Pure Play I & II

 

Sampson I.M Onwuka

 

Define Pure play, it could mean certain things to certain people, it is however an oneiric interest in

 

choosing to use the cyber space to deal with any available information based chiefly on trust than the

 

face to face contact or similar contact under an avenue of transaction. Pure play could to refer to the act

 

of doing business for business sake and solely on understanding between the players or trust between

 

the teamsters, that a level of trust and degree of peculiarity of the indulgent need no prima facie or

 

recognition whatsoever. A good example of a pure play it’s the use Turbo Taxes, which prepares your

 

taxes without being responsible for compromise of information and without being responsible for other

 

problems that could be associated with it. In deciding to use Turbo Taxes, the choice is between you –

 

the first person and Turbo tax, and it is mainly the responsibility of the individual to effectively

 

transform the system for own private use.

 

 

 

A pure play could work for poker games or even video games when you game between you and the

 

computer program and there are definitions which are similar to a niche market but different for

 

different reasons, since a particular emphasis on product type in particular industries sometimes

 

necessarily involve see-eye contact. Whatever definition is given to the idea of ‘Pure Play' cannot truly

 

apply in New York, the whole game of selling and dealing through the internet and doing business

 

through social network has taken on added weight. There are several problems associated with Pure

 

Play – especially when several other products are used at the same time such as ADOBE on some other

 

parallel product or recent IGPs (2). The grammar of error is with the translation of one product line on

 

another that gives it some control without a face to face contact with the other side of the structure.

 

The informed status recently enjoyed by the prevailing cultures in the state and sources for information

 

may have taken on a whole new attitude in New York and in US in general, but it really a question of the

 

attitude and the not the intention. It is become more expensive in terms of security network that it

 

provides. But you are not blame them, for how could anyone It is not just the Banks that operate in the

 

dark that should concern the best of us, or companies that provide security information and apparatus

 

while at this same time participate in public market that is should concern us. In the past, empires and

 

kingdoms, peoples and languages were known for the buildings they mounted and houses they built,

 

but these days, we can suggest that the sophistry of most economic societies can be reduced to pure

 

play.

 

This process should indicate a security process and with it comes a renewed avowal on the security of

 

both private individuals and institutions and the cost of failing to educate citizens on why and what is

 

wrong with certain actions in society, and above all, the limits of certain applicability of process. It is a

 

lame trust that came with familiar instruments which applied to the process but ultimately it came down

 

to penetration of a system from familiar and not enemy sources. U.S information network is several

 

decades ahead of what is currently available but such soft penetration is the reason why surveillance is

 

important and why it is the only thing wrong with it. In so or far as the Security discharges from the 9/11

 

and use and failure to issue Q-tell which took added meaning after, there is a false and misleading

 

interpretative process by people so severe on their own less driven and less exposed experiences that

 

direct information is not possible.

 

 

 

The Patriot Act is supposedly to put an end to this inherit danger associated with being an enemy of the

 

state, an error that is not so much a Government Issue as it is a public excess of duly prescribed power

 

and vices of a well described delegation of authority. It is a point of Pure play to reconsider that some of

 

the assumptions with software and the deals about business gives direct and indirect consultative

 

approach to personal business. The Mobs in New York were particularly effective because of their access

 

to IBM information and Department of motor vehicles. So also the Nazi Party. The circumstances

 

surrounding the use of public or private information in navigating private business and interest group, is

 

one the thorniest aspects of security pure play which includes whore houses and a pure play away from

 

Wall Street even with the coming of Archipelago. An end of Wall Street is not relocation to the privy

 

discretion of your kitchen, it is a different estimate that a pure play from institutional traders will

 

increase in order to forestall the error and the poaching of new comers to Wall Street, new and

 

individual traders.

 

 

 

We can discuss some of the advantages of Pure Play and some of the benefits of online application of

 

process and transformation of business tools, but the particular nature of local world street and the

 

drive towards a transformation, sometimes stop short of the failure of the net to provide serious

 

information leads for business and for social contact. One of such cases is the LinkedIn resources with

 

fewer leads than other software based access. This does not combine to any extent with the psychology

 

of changing some of computer software with new ones, which ensures equal access to the internet and

 

for all asunder. I take that the information technology of Wall Street and private betting has o

 

sufficiently taken hold of the business in day to day operation, but to secure a foot in the business of

 

everyday life at the Wall Street, the old LOTS system was put to secure easy access to new information

 

system. The application of vendors and gadgets used for currency trades and so on may be

 

manufactured by seating institutions or in terms of Wall Street, we can speak of proud and well

 

determined trade families and investment banks who reel on this pure play. The temptation to go it

 

alone is based not without damage to one’s sense of respectability.

 

 

 

Perpetual surveillance is the basic theme of the Cold war, far removed from what happens in local and

 

primitive situations, it’s the penetration of a Government by foreign and local elements that are

 

enemies of the state. The Patriot Act in US is not limited to government and cannot be the only reason

 

why some contracting based individuals migrate to someplace. It leads to new development in the Sony

 

incident where allegation of local and internal job has surfaced several times. Suspicious behaviors are

 

behaviors that do not correspond to a norm, much effective others are usually part of the norm, operate

 

the norm and the system and only from earning public and institutional trust can they be viewed above

 

suspicion. These are the most dangerous others and said to be interest in protecting private interest, for

 

sure, the temptation of having a U.S security apparatus monitored by a select school and their groups of

 

interest groups is to respond to questionable behavior and use and abuse of process. Whereas the SONY

 

and information agency is no serious issue and can reduced to elementary navigation system, placing

 

too much faith on the inquiry is actually a serious setback.

 

 

 

For all intent, the limit of the application of process places no limits in hacking down a suspect with the

 

information from a general and acquired resource pool could actually generate, to a point that many

 

people were perhaps aware of the weaknesses in Sony defenses and therefore leads away from the

 

sophistry required in hacking and erasing specific data by the corporation. It could be done from North

 

Korea even with half their competency level, could be done from Sony headquarters even with half

 

competence, that attacks at even the Treasury and US defenses may re-originated from Sony suggest

 

that vulnerability of several account securities with US special information technology outfits. In

 

essence, Sony was perhaps a pivot hole for other damages and the sources couldn’t have come from any

 

other place saving from Sony. It leads here to one critical question which FBI has supplied the answer

 

that the attacks originated from North Korea, means that Sony may or may not have been privy to

 

sensitive US information and security apparatuses.

 

 

 

Last two years, it can as a surprise that Bernanke and the Feds were hacked by a special lantern

 

introduced perhaps through a system which the Feds recognized such as those which we cannot

 

mention for now. From these letters or information email code well known resources above or within

 

suspicion, a good lantern can be attached to an email and when opened by Feds Operational bypass

 

code easily docks on the main frames and lays the system. In some sense, docking the Federal Reserve

 

System and Bernanke information portfolio was for the perpetrators an easy thing to do and an act of

 

aggressive cloud computing, but it was espionage no different from the outcomes that finds us looking

 

at SONY and the source of the damages.

 

 

 

The End of Wall Street is a title of a book by Roger Lowenstein but the book was not so much deserving

 

of the average four star it garnered from reviewers, who played into the dubious accounts of the 2008

 

incidents perhaps with sparing from Long Term Capital Management used by its principal architects;

 

Robert Merton and Myron Scholes, who are also associated with efficient market hypothesis. But the

 

major hand in this theory was missing, Fisher Black, who may not have saved the problems of crude oil

 

and the collapse of business of opportunities in Russia which has many things to do Putin and capture of

 

Russian oil companies. The book which tantalized on the end of sub-prime in 2008 missed several key

 

points which may have paved the way for Alan Blinder’s (2013) more comprehensive and very late

 

delivery on the problems of 2008.

 

It is not here that we measure the stories on 2008 for the main focus is the principal interest and focus

 

of the lessons from this period, which are hard to articulate, which these authors may or may not have

 

achieved, achieved with some measure of comparative in Blinder’s (2013) but only to the point of

 

summary from other points and not the originality which is equally hard to achieve. But Lowenstein’s

 

(2000) ‘When Genius failed’ showed a thriller at work, did not give us something that was not there

 

including the indirect impact of the new Government in Russia and why there was an error in rushing to

 

old Soviet Union when there was a serious issue of attendant balance of power in Soviet Union and

 

Russia.

 

 

 

We look at Pure Play as something that was not taken seriously, for instance the shift from business on

 

the ground to the internet, promotes an argument that having control over quantity money has become

 

as challenging as the rate which could damn personal consumption. There is a reason why for instance

 

UPS, FedEx, Amazon, eBay, Bailu, Alibaba, are pushing the boundaries of wealth management and

 

returns of investment, whereas Walmart which avoided a split in June 2014 and HEB who are useful in

 

regional markets are approaching their limits, that pure play which is not sucking occasion and in spite

 

of the niche markets, has gradually returned the end of the big transaction arena into clearing houses.

 

There are too many problems associated with Pure play and information system such as Google (a chief

 

prototypes pure play) is how Americans and others with access to the internet usually prefer ordering

 

shift from the backyard and have it delivered to them at the backyard than stepping out into the cold or

 

traveling has threatened store houses for a start, threatened elite businesses as we know it, and has put

 

out the smoke in the hen house.

 

 

 

Black Fridays for instance do not attract as much people as it usually does, does not mean there is a

 

diminishing of buying and selling going by the most recent year in question. When there is a slash in

 

prizes, there is always sometime to take chance to take advantage off. It leads us to consider that

 

business in one location has now shifted to business in our private houses, that emphasis on packaging

 

and delivery service may have future lasting till a new event in management and transaction. Pure play

 

is what happens when there are Job applications through the internet than showing up at the location.

 

It is easier to distinctive reproduce the evil from the past and presorts who will likely get a job with

 

online application than a face to face application which Baltimore still do.

 

 

 

Such vendors as Monster.com, Career.com, Job gallery.com, Indeed.com, are ideas of vendors who are

 

primarily interest in pure play; you don’t the employer, you don’t hear from the employer, you don’t see

 

the vendor don’t speak with them or what they look like even through a telephone conversations. When

 

we no longer need to travel to the bank and financial institutions to combine our resources for business

 

and engage in transaction, deposit, select comptroller and financial plan including REIT, that all these

 

transactions could be done through the internet and online through a recommended system or

 

encrypted network, you are involved in some kind of pure play.

 

The same is within the definition of security system, network alarm, house alarm, people’s network of

 

invisible camera watching you and so on, you no longer require human direct contact of eye to eye

 

investigation, you are watching or being watched, it gives the one with the end of a knife a power of

 

central authority a little below the power of God over other people. There are hundreds of such

 

examples of pure play from unmanned vehicles who selectively employ their choice of candidacy to

 

institutions that are mainly concerned with online registration and accounting and with other informed

 

processing of the certificate such as University level certificate.

 

In the past, an institution such as Harvard or Oxford will prefer students from the entire world to have a

 

study stay at the school and help to complete their institutional study leading to a certification. But

 

these days they are not hindered by such process and have reserved reasons why this is not for the

 

institution and as for their process in selecting students from all of over the country. University of

 

Phoenix with its promise of deferring academic tuition cost with a small width of success has made it

 

impossible to criticize the process of playing out academic resources through the internet with virtual

 

life advisers and virtual life professors.

 

 

 

These forms of pure play are usual unless there are cases of direct and indirect interest between the

 

school and the body of advisers doing the good work. You are not who you are paying to and how safe

 

you numbers on the air is and or how well the informed apparatuses can protect your identity. You are

 

looking at an open opportunity with a requirement as rigid as classroom process but then there are

 

cases of secret stalking and lantern which the procurators of the engines may employ towards objects of

 

their own interest. Whereas Russia and China are considered prime examples of secret police reducing

 

government opposition in communist nations, there are more serious cases of infringement of Citizens’

 

right or what in America we may call crimes against humanity.

 

 

 

 

 

Given the formal nature of capitalist society as prone to taking advantage of others, the paradox of

 

netting cash through information has taken on a whole meaning, becoming a vise in common markets

 

than official social access. In this we mean that the way front process of letting competitors participate

 

on certain necessary 'Pure Play' information where only a group has useful access to information might

 

be challenging, especially when it involves the smaller companies who are likely to compete with bigger

 

companies in any given world market for security contracts and market opportunity. There is a problem

 

of legitimacy involved in marketing under the wire, but none of immediate practice is set in such as to

 

oppose any thing we find in FDIC rules and regulation, and more than anything too much regulation

 

could just kill the Market.

 

 

 

If private investors as well huge financial institutions can be taken seriously, they are likely to participate

 

in an open source automated quote lines, but for IPOs arriving on the board with venerable software

 

and little primary source, there is a case to be made that 'filling orders' and quotes on line which brokers

 

nowadays do, can be intercepted by much primary sources from higher levels and then then mantra of

 

rerouting basic IP routes. This measure so to speak is gauged in such a way that online primary

 

interceptors or level III and IV trading institution much of it is NASDAQ will likely file a forward ahead of

 

intercepted filling orders, and by merely pressing on a button leading to the sale or hold level I and II

 

position. In such circumstances, the bigger coverage will now set up their calls based on information

 

that is available to them via direct access, and can hold until volume builds within seconds of trading

 

window before the 10-15 automated quote lines. The Feds Wire can hacked since it loads for clearing

 

houses given experts some field excess to amount and rate of return.

 

 

 

Lately in New York, the whole fear of that what happened in New York with the fall of Lehman might

 

repeat itself in years to come, yet the problem with Lehman like many other derivative financial

 

companies and institution is that people who were supposed to monitor them were also involved in

 

making the rounds of expectation. The question one need to ask is why Madoff succeeded so easily, the

 

fact remains that he could not succeeded without others and more than anything, he could have only

 

succeed in a system that is in his own hands. The other issues which take the front line is the one

 

concerning election and electioneering campaigns. For instance in New York, there is nothing any

 

opponent can do to raise awareness on the shortfalls of the current incumbent of New York without first

 

encountering the obstacles of public view, fed on by local news and television with primary attachment

 

to primary sources and prodded by primary information source and the restriction to general access.

 

 

 

After the visit of the President to New York, it has been my personal concern that Americans sense of

 

security, especially its bend towards private security is signaling a process that could get out of hand.

 

The security groups are going whole sale of whatever inspire fear and the more they calm, but this is

 

getting very negative coverage. Beginning with the President Barrack Obama whose visit on 14th of

 

September, a day supposedly intended to co-inside with fall of Lehman brothers to his visit to Albany

 

yesterday, it is likely that the new apparatuses of surveillance and internet security run by private

 

organization may create more problems in future than solve.

 

 

 

Above all, if the issue of perpetual surveillance is to be taken literary, then a gap or hole in information

 

exist for what happened with Madoff and his scandal, since we know that until he was discovered and

 

charged, he was called the Chairman of NASDAQ. NASDAQ is the head-chief of information technology

 

and security pure play, there is further gap to be explored on the movement of National Intelligence

 

investment on private security companies, some of which were forged and what swelled the portfolio of

 

Bernard Madoff. His accomplish ought to European who dominated that market at some point and

 

'motley', English who weaved in and out of US intelligence market. Further holes can be dug into the

 

impact of connecting American stock market and British in 2004/5.

 

It is possible to assert that produce from farming and Manufacturing in general cannot replaced by

 

Information Systems which is not edible and ultimately only gratifies when a service is done, does not

 

mean that Information System is anything but the future. Information Age and the consequent issue of

 

Security associated with it draws blood on the possibilities of a comprehensive Artificial Intelligence in

 

future and the rise of the third person singular, that is, the other you that was never there, that is the

 

Matrix evolving from a complex of your phone calls and your reaction to specific questions during

 

conversation, your reaction to other personal and as well emotional experiences and from other

 

immateriality such as range of products that you buy at any of your local stores.

 

A record of your past is an estimate of your probable future, all of which is already in use by the time

 

you add another 10 years to your life that by old age, you are so well programmed that it is estimable to

 

know when you are likely to die and from what. The alteration to the Internet especially the intrusion

 

from outside is part of the reasons, why there is a constant fear of obsessing with information, leading

 

to behavioral tendencies and entitlement, all of which might sound justifiable. Therefore network

 

warrants a larger security framework.

 

There are other possibilities that arise through the use of software in narrowing down the lifestyle on all

 

individual. For instance the use of Camera’s these day attached to cell phones, could easily help us keep

 

an eye on anyone 24 hours 7 days a week. If we have problems of crime and scene of accident, the role

 

cars and companies carrying cameras could help people engage it’s each through automated share point

 

and through social networks out there. These days a group of friends and even members of any unit can

 

keep their on you for as long that need, which means that you probably at a disadvantage when you are

 

stranger.

 

 

 

But that future is the cause of recent nightmare, and in that nightmare there is a day breaking that

 

books which we read before and a product print and paper may now be read through a Kindle and other

 

Note Books. In future, there will other forms of maintaining and reproducing information without the

 

big hardware that come with it. What we are dealing with is the issue of faceless communications,

 

whereas people in the past had building and human beings who signed in and out of business contracts,

 

Pure Play involves people you don't see, buildings you don't see, and there is no where you can account

 

for any transactions only through the so called voice on the phone.

 

There is no argument that Pure Play does not have its limitations or that these limitations cannot be

 

overcome, but we dealing with accountable in a world of business people and busy businesses, where

 

anyone working for the government or in the guise of similar outfits may likely convert sensitive

 

information for very personal gains. The whole process may be argued from the point of Security, that

 

internet and other safe-net spaces may be the answer. Yet anyone who has dealt with Debt collectors

 

and big companies such as Verizon where faceless operators respond to you through your own portfolio,

 

will enjoin this experience that your personal security or other forms of personal information can be

 

used against you by persons.

 

 

 

That price of security is much more useful these days than the opportunity cost of not doing much.

 

However, the emphasis on virtual confirmation and the express exploitation process need to be

 

reconvened. It is not how the world works and operate, if it is the instances of Boko Haram in Nigeria

 

and those of criminal or non-governmental bodies who find Nigerian security system friendly and easy,

 

easy and amusing to confuse terrorism with view of achieving and it is very useful to a large extent in

 

New York to invest in areas of private security that saw the last evolution of security services leading

 

away from the 9/11. The facts of paying too much to sponsor internet business has also suffocated

 

security businesses done on the ground in New York.

 

 

 

The possibility that a place like Empire State Building in New York or New York library is seriously under

 

surveillance, does not mean we have total control over the building at any time, as such attention

 

cannot be placed entirely on Internet security and security services that provide them. Yet attention

 

seems nowadays to dwell on businesses involving internet as if these terrorist will communicate through

 

the net and through automated signals. But that is just one major advantage. The advantage of doing

 

business through the internet carries the greater danger of compromise in terms of security. In many

 

ways, there is a necessity to let privates handle sensitive information but such access to information can

 

at times prove disastrous especially when Information only passes through One major source and such

 

sources decides the left and right of businesses or profits that connect with it.

 

Most people in New York who trade or who play in any major markets by any single stretch, are perhaps

 

aware of General dynamics, some may have signed a few papers with Home land Security or other

 

security based groups in NYC. In the light of the wire's fraud and the complication of automated quote

 

lines leading to the 65 billion dollars scandal involving Bernie Madoff, there has been an increased

 

tendency from the US to police the network of wire business. For people who tract 'new economy' this

 

is essentially a difficult executive procedure since Global markets have shifted base from a down where

 

the operational cost are likely covered by banks and their representative, to the people and including

 

children who can make money right of the internet. Yet in New York City has taken on a whole new

 

meaning and in fact attitude. We are beginning to hear the deep throat of too much policing from

 

everything including Cameras in subways to whole run.

 

Conclusion….

 

This theme of being under perpetual surveillance and the consequences of it all is well treated in a new

 

Book 'The Secret World of outsourcing intelligence; Spies for Hire' by Tim Shorrock, published in 2008.

 

The book not only highlighted the difficulty involved in coping with the new age information technology,

 

it goes the distance in letting us see the contagious necessity of making deals with private security

 

experts in United States.

 

In New York following the debacle of the business and in his remonstrance, he scored on the fact that

 

QTel (an alpha source by forge as in Q for Quelle as it is German for 'source') of George Tenet era,

 

intended as venture Capital Fund for CIA, had done better than most in telling off the direction of

 

117 | P a g e

 

Government spending in military information technology and as such denied others the opportunity of

 

running on even keel with open market and common market funding. Q-Tel may have yielded the

 

beauty of 3-D Google Earth as part of the deal with Google and Keyhole inc. based in California.

 

The problem with such venture capital funds like Q-Tel is that it involves investment bankers which raise

 

eyebrows concerning the 'no risk' business incentive in a Capital market industry where 'Talent' for risk

 

management is an instrument for praise. But then there are companies that have done their own bit in

 

signing up with the government of such matters as bid-on information technology. These groups will

 

wholly include BAE systems, L-3/Titan, EDS, General Dynamics, Man Tech, Lockheed Martin, Microsoft,

 

Nortel, Northrop Grumman/Essex, Raytheon, and NCI.

 

 

 

Concerning of the state on what happened and why it happened during 9/11 may been complicated by

 

the wholesale failure of once popular prototype for wiretapping called SIGINT, which at some point the

 

superior tapping and wiring endeavor. SIGINT was believed to have failed in 24th of January' 2000 and

 

after the incident of 9/11, it was the CIA who began to push the move for a change with Fiber Optics.

 

Tom Shorrock highlighted the compromising structure of the wholesale intelligence society of USA,

 

especially data mining, which he vaguely but did not fully demonstrate could predicate on who wins in

 

many business circles and who rules the war of financial market place. Those data miners were selling

 

information based on fear seem relatively common knowledge, but much less known is the area were

 

outsourcing was a big deal such as the ones that follow SIGINT debacle in 2000, the relationship

 

between buying information gadgets and making one, moved from 17-20% to 80/83% within a matter of

 

years. Shorrock mentioned that a time it was a conscionable compromise on military Intel which had to

 

be tolerated, but deeper still, the whole deal has become a tool for private ends since public freedom

 

was essentially denied.

 

 

 

The issue concerning the 9/11/01 and other security failures and failures of integrated systems in New

 

York leading to the two recent air plane crashes, lead us to understand that as far matters of security,

 

interns of integrated systems are concerned, the solutions for it is still pressing. Yet, the matter involving

 

security in New York is no longer so much the show of power and stability as it is now, the fear of being

 

under perpetual vigilance as new provisions are signed into law permitting Cameras to overhang in NY

 

subways. There are all kinds of internet and security based businesses in New York, especially security

 

driven which has taken on the added muscle of charter, following the incident of 9/11/01 in New York.

 

In the '9/11 Commission' initiated at the behest of the last president, George Bush, revealed lapses in

 

judgment of the Central Intelligence Agency (CIA) under George Tenet, the whole survey tended to

 

suggest that CIA was not always in charge of the situation, sort faulted the leadership community for the

 

poverty of information and all else.

 

 

 

Whether or not the man in charge at the time of the incident had principal hand in determining the

 

shortfalls of information data is not noted, but what seem clear was the rise of security information

 

outfits and surveillance technology much of which were privately owned and operated and gradually

 

yielded grounds to the state beginning with the incidents of 9/11. From Q-Tel initiated by George Tenet

 

himself following the debacle of SIGINT, to Donald Rumsfeld's insisting on incorporating privately owned

 

internet security systems into the US military, a whole new world of security information 'Pure Play' was

 

born and since then Google, Yahoo, Aol, the Apollo, the flag Atlantic, and Global Crossing, have signed a

 

useful parity in security surveillance with more Government security intelligence. Spying on your

 

neighbor may be a world we only hear about, but under these signatories, it is impossible to deny that

 

spying on your fellow traders with the advantage of invisible cameras as large as the Armory pole has

 

become much closer and much more compromising in nature. The problem is not with those who ask

 

for the information, the problem is with those who wind up with direct non-public access to information

 

that can make or mar competition in any industry.

 

 

 

That a social network like Facebook, Twitter, Linked, Inter-business, might face technical problems does

 

not necessarily mean it has weaknesses in the information technology, rather it could mean that

 

competitors with some degree of leverage of relevant information and access might seek extortion from

 

the said group or face a technical glitch. The rest of the world would never know what happened and

 

how it happened. If we pay thousands of Dollars per screen a month to have a market Data network

 

from Fisk, CNN, Factiva, Reuters and Bloomberg, you can imagine what the price would be for major

 

corporations seeking interest in an financial areas where private owned by publicly traded companies

 

are monopoly, there is no degree to what can happen to these small business. The whole idea bothers

 

on malpractice.

 

 

 

Within a matter of years after the acquisition of private security companies market reactions to the

 

whole incident seem to have taken roots in stock markets. Such that private ownership and preferred

 

stocks will tend to operate against public market capitalization. In the book we learn of this trend from

 

the figure " that capitalization figure, derived from a company's stock price per share and once more,

 

the author included the issue at hand using tracking group that might also include A.G Edwards defense

 

banking group "that Capitalization figure, derived from a company stock price per share multiplied by

 

the total number of shares outstanding, is generally a good indication of investor interest in a specific

 

industry. Collectively, the value of the intelligence pure plays exploded in the first five years of the war

 

on terror, from $980.5 million in 2001 to $8.3 Billion in 2006. You are looking at 900% - increase"

 

 

 

Pure Play (II)

 

 

 

The penetration of Sony information system is an important anecdote in internet history that internet

 

system may not be readily in our control as easily as we speak of it since the US Satellites and those

 

from other countries can only track a section of the Sky and the information pathways open to the rest

 

of world. We are at the beginning stages of an age that will dominate the space. There will many similar

 

attacks on safety areas of here are also billions of phone calls between Asia and the United States every

 

day, making a search by search process not easily the better solution to the quick attacks in very dense

 

network system. But the primary defense mechanism which has worked for a lot of people including

 

making private companies is one that renews the systems every 12hrs of the day, between the time

 

differences between US and says a suspicious neighbors from Asia. It looks however that a Lantern

 

secretary towing SONY and the company that financed the latest flick on the Interview, the Citi-Bank

 

and other Banks than financed the Interview could have been vulnerable with attacks from SONY

 

suggesting that the break-point could not be anywhere less than Silicon Valley.

 

It is a not a mole in the classic sense of espionage, but there are other reasons why Sony and Samsung

 

may be out there. Samsung is perhaps the toughest navigation device out there, but the information

 

which Sony was privy may have connection to national security which was why it was a concern.

 

Encryption of products manufactured elsewhere or even in these US, are degrees of volubility to trip

 

lanterns that buries itself into the system and can be used to primarily erase data when the

 

circumstance of sabotage call for it. It looks therefore that the Los-Angeles – San Francisco areas of

 

California linking you to Asia (the only link to Asia) through a very small cable network space no bigger

 

than a room and the Silicon Valley has more enough say on what happened to outfits that came under

 

attacks. Companies considered critical infrastructure protection, MCI Corporation, Rand Corporation,

 

Defense Advanced Research Projects, Intel Corporation, Hilb, Office of Science and Technology, National

 

Security Telecommunication Advisory Committee also have Sony as part of their portfolio.

 

National Infrastructure Committee, The Defense Board, the D.O.D, General Accounting Office are

 

national concern areas and seem to have gone beyond what is available on the internet. The induction

 

of some the documents linking sources to attacks on banks suggest that messages couldn’t have come

 

from Pyongyang or any part of Asia. However this is a short note and FBI who has final say mentions that

 

it can from North Korea and that’s the fact – our source of information. There is only a communication

 

group that are capable of assaulting the access to this information besides North Korea but use of these

 

Internet Codes, such as COCOMO (Construction Cost model) and prevention and especial interest – cost

 

of new software, COPS; Computer Oracle Password Security, CORBA; Common Object Request Broker

 

Architect, OMB; Meeting Standard for Complaint objectives, CONOPs; Concept of Operations Scenario

 

Software and Communications traffic and Other source codes, suggest a kind of Cloud based

 

penetration or initiation and problems with can be counted by other agencies – even before it happens

 

such as DARPA AND NSA R2 (2) DISA; Defense Information System Agents (3) Sampler of Department of

 

 

 

 

 

Defense Computer

 

But these kinds of self-generating attacks is not the first and would probably not be the last time, we can

 

cite some examples using in ‘Cyber we Trust’. Rome Laboratories – 30 computer system of its 50

 

Internet DOD computer system on its network was hacked by a so called 16 year from Britain, launching

 

the virus they called ‘Snifers’ in 1994. In 1994, U.S Naval Academy defense system was hacked by

 

another unknown group and the group had all the password deleted, creating power outages in

 

overload. Unclassified systems were also broken into and the National military Command control

 

protocol/Internet protocol (TCP/IP), challenging authenticity of partners Preserving Confidentiality data

 

(MIC).

 

 

 

(DISA) Defense Information System Agency He was not the only man involved in the process, there were

 

others before and after, many of them were willing to show how adaptive mechanism of sensitive sides

 

of a plane can help improve on the rate of information storage, which is clearly different from internal

 

system of one end point to receiver used by IBM and their workers, until the coming of the new age of

 

Steve Wozniak, Steve Jobs, Rodney Wayne and the other side of the cove; Bill Gates, Steve Allen and

 

Paul Ballmer. But of course it stands out that the earliest attempt at these products including prototypes

 

built by Wozniak didn’t work as expected, or worked within some level of expectations, and some of the

 

designs followed origins and inventors of Television and basic products from IBM. But it was Steve Jobs

 

that made it work. It is not hard to make the argument clear and fitting to all asunder that what

 

constituents the internet was a serious of text that the basic chip (16-18 inch) could recognize and

 

transmit without a rotary backup. There are other types of text such as the Hypertext or HTTP which

 

remained an instrument in the landing any useful development in World Wide Web.

 

 

 

But there are other Cyber network devices that can aid the Internet or the Arpanet. But they come to

 

the text or the code existing between main information storage center and capacity. To master any

 

program or set of programs for any new and invented devices, there are text that are used, and to

 

bypass the compressor and oracle devises sued to transmit messages between appliances, there is

 

always the third cyber appliance of device, or tap in gear that introducing its own code and text some of

 

which in earlier stages of the Internet use or other forms of sender to receiver text and routing system,

 

we’re causing problems for the owners or intended receivers stock of information, device and operating

 

machines such as the Computer. Everything in the computer or laptop from beginning of the most

 

sensitive portion of its activity; the keyboard to the most direct access of its information notebook, RAM

 

and motherboard, are programmed so to speak along a text that recognize its key commands.

 

Here’s the problem, there are other forms of exchange between sender and receiver, between ends

 

points of a navigation and along certain routes that follow an entirely different text which can operate

 

like the internet but not the internet. In so far as the satellites are concerned and the processors that

 

transduce these information types from satellite frequency to a different analog system such as a

 

computer or laptop, we experience the rate and range of the frequency used for such a message and

 

how. It looks like an adjunct processor which translates this information can detect fake and illegal

 

actions when it reaches between ranges of frequency, or rises above the normal frequency for a

 

particular information delivery system.

 

 

 

Security information network for instance pointing to Pyongyang is suggesting that the frequency was

 

detectable or acting above the frequency or below it, like statistics for instance may be due to poor

 

delivery system between on network device and another or poor reception by the antenna usually

 

programmed to hit a certain frequency. At a low frequency or SM waves, the waves are slow and

 

sluggish and virtually all capable devices can pick the transmission, and FM range for radios, the

 

transmission is middle ground and many users are within a city limit and far from valleys and low lands.

 

The SM is better than FM, even at a range disseminated or permitted by the US Airwaves securities,

 

there are reasons why FM over 500 for instance (50) may be marketable than the Short Waves. In plural

 

arguments, Short waves are clear and crisp for short range delivery system, but you can begin to have

 

problems of signal when we transverse over a land mass, and meet more three dimension obstacles.

 

 

 

The only way that FM work is because other people in high storied buildings and those underground are

 

picking at each signals and from one signal point like the Hotspur or Hotspot to another, and there is a

 

secondary dissemination. Higher frequency which makes CNN and big broadcast network possible,

 

usually take a different route, one of which is the network signal station built with some exultation from

 

group up.

 

 

 

In some light, we can see the point of continues injection on information that we can deal on from a

 

hotspot or a Ship or through a cable that line the sea or through a powerful signal magnet that navigate

 

the global world such as Macro network of Satellite above the normal frequency. When it is channeled

 

through a network source, you can have what we can call a free network system through a major

 

broadcast system or channel where you pay for the information through a CNN for instance, or a private

 

Home Box Office (HBO). There are so much information pathway that can be transverse to create

 

separate universe or universes where on group of persons may not have access or privy to other

 

universes. When a message is relayed below some recommended frequencies or short waves, it sends

 

more than one possible signal to US authorities, that this is either a hack-spur or intruder. When such an

 

intruder operates above normal frequency where they can be undetected, US Satellite generally picks it

 

up and puts it under some watch. There are other problems, for instance, when there are alterations in

 

the code and language it general alters the routing system and are called viruses.

 

 

 

However, we can suggest that bugging a system these days involves more than these estimate, we can

 

easily nowadays bug or tag any system with a perfect overlay of text and information programs that

 

camouflage as for instance a SONY prompt-to-call text, buries its information program and viruses deep

 

into the system and only does a friendly job of narrating the system – for instance bugging a keyboard of

 

any laptop. What happens is that all information that SONY has or even Samsung can easily reproduce

 

to a new set of text elsewhere, including confidential protocols. What happened recently is not an

 

overnight sensation; it happened because of the lantern such as described above. In essence the

 

attempt by the NASA to pick and fork around the North Korea network system was an estimable long

 

short given the perpetual cessation and interference of North Korean network system – all to no avail

 

and to do something really exceptional without the spooking the attention of the eyes on the camera.

 

If we can suggest that understanding the problems of US security – at least of a market level – involves

 

elements of Patriotic Act which a large frame work of perpetual surveillance can more than sabotage.

 

Since the advent of 'New Economy' stocks, these have been a less dependency on Banks for credit. The

 

dependency ratio on privates to banks and credit spread in the past has relied on the numbers which

 

the media houses and independent storage facilities release to the public. In recent times, the security

 

of the Federal Reserve and Treasury has been tested and more than once. If the complacency over the

 

Reserve and the hacking of Bernanke’s information storage did not qualify as a sabotage or espionage, it

 

shows the uncensored consequences of the Internet and what it can manufacture when it falls into a

 

wrong environment. Information terrorism and network gives a long view on what happens to a

 

protective agency with the wherewithal to do business elsewhere. Between the years 1970 – 1972 in

 

Washington, there was a constant lick of information to the public through people with excess to the

 

Reserve.

 

 

 

The Federal Reserve considering the 'frisson effect' had done its bit to uplift the credit power of most

 

average business men and women through other financial institutions. That action from the Feds had

 

been intended to galvanize the so called 'New Economy' due to the benefits of the credit companies,

 

digital economy, and hedge funds relying on new and improved businesses to do better. With the era of

 

corporate sponsorship through the state and financing through sensitive intelligence area of the State,

 

we gradually are. Some of the chattered internet companies are still likely to open a can of threat alerts

 

that could force a market reaction for and against security. This can be done without due pronoun to the

 

success of the financial markets, and can still be done with or without reference to the nature of neither

 

the threat nor the justifications for it. Why this spells disaster for private Americans cannot be fully

 

grasp accept in the context of New York City. More that these facts of security compromises of private

 

Americans, we can have a grim picture of what these security companies can do with businesses we own

 

and operate in the United States.

 

 

 

The problem is that many people in New York have probably never heard of other companies exclusively

 

dealing on surveillance, and never perhaps heard of Aerospace, nor have been privy to the fact that

 

their computer encryption like the ones manufactured by Dell, IBM and Microsoft (the last to sign on),

 

would provide the government all the information they need about the individual, not only that, your

 

bank's information, technical particulars and activity can be at the easy beck and call of the guiding

 

governmental security service provider without your express consent. If these things are ordinarily

 

monitored by the Government there are no problems, unless we are not dealing with the issue of safe

 

net and matters arising from very responsible individuals hiding under the canopy of Homeland security.

 

It is well known that actions of all sorts performed by private persons of interest can be monitored by

 

government-backed-reconnaissance security web-nets; there is nothing new about this and nothing

 

wrong in such attempts.

 

 

 

The minor stick in the whole evolutionary ideas of using information technology to manage and monitor

 

information technology is that it spells security compromise for non-sequester, and on certain sensitive

 

information about individuals can reach the ranks of those who use for their own personal gains. With

 

internet based business which New York once provided a haven, the industry once useful for directing

 

the source of business connection, it is possible to blank an opponent out of competition with barrage

 

and barrage of information, many of which is negative. In a setting like New York, companies doing very

 

well in the private, seeking a form of business on the public protection and national security will have to

 

levitate towards those in power. When you however normalize the habit of mounting suspicion, it

 

becomes in due time, perpetuated. The relationship between the intelligence committee and the friends

 

of the committee would welcome a new world of intelligence, but the compromise the rights of citizens

 

following the 'Patriotic Act' of George Bush will only bring in a new world of information exploitation.

 

The man who they call Marc Andreessen who came with it the Mosaic or pictures for internet such as

 

Scanning, wanted to free up the internet in 1994. His idea of Mosaic and eventually the navigator that

 

was replaced by Microsoft was an end of what he thought was a Matrix, a kind of duplication of

 

information network and targeting that go on between the workers or those in confined situation and

 

people perpetually watching them under cameras and other versions of surveillance. The matrix was

 

already working including the labyrinth of video games in his first installment of Silicon Valley ventures.

 

It is not impossible to break free from IBM as Steve Jobs once mentioned but to become a revolution

 

was not an idea that was popular saving for the Apple II. In reality, the effort in navigating through forms

 

of Cyber or space network, the original intent of say a Google Plexus was to help the search engines of

 

many prototype cyber networks out there, Google was perhaps a hack of some form or perhaps began

 

as a form of revolution by bypassing HTTP and broke away from the HTTP which was no longer at ease

 

with the plexus.

 

Military Plexus such as a prism which only and mainly Obama can use, is a cloud computing device or

 

similar sort that presort informational agency of new all objects or human devices or application built to

 

it. It began as a Game, for instance what is the likely possibility that a man with two children, works forty

 

hours a week plus some extra hours on the weekend, with the documented information well known and

 

his consumption behavior and attitude, with his jolly and bitter or bitter of jolly wife, spending about the

 

same amount of hours at work, suddenly found himself doing something totally different. What a man

 

in Camera does and can do under such circumstances can be made more explicit by a 24 hour

 

information ball plays and network camera.

 

 

 

A cloud system is a primitive text that attempts to diffuse the probability of such a person or the total

 

information of an institution or agency under such circumstances of perpetual watch, that it attempts to

 

propose what such a person can likely do in the nearer future or intercept, anticipate on his or her

 

action over a course of a time including his cell phone calls and so on – including the so-called Safe

 

works or search which can be mitigated. It is a conundrum of security liberty known to Communist

 

nations and especially Russia that use informed choreography of the information system to renegade on

 

political opponents for any number of reasons.

 

 

 

Most encryption component may just be using Verna n’s Link-level encryption still used by US DARPA;

 

Defense Advanced Research Project Agency and NSA; National Security Agency and some sensitive

 

digital/forensic COTS software – for instance the ARPANET (the Internet), Military EarthLink (used by

 

Google, Samsung, IPhone 6), GPS; Tom Tom, the Navigator, may be linked in together. There is danger

 

involved in the outfit. Some of the dangers is that ease at which linked and share point routes can serve

 

a point of entrance to sender or an end point, that the intended receiver is not aware of other Lanterns

 

operating along the route. It is easier to use a different navigation scheme with a new and different

 

execution point used for instance by MCI and SRI and SRI International that work with University of

 

California.

 

 

 

The structure of cyber network apparatuses at University of California San Diego is telephone based and

 

conducts navigation between US and most of Asia, mainly, the initial group were challenged effectively

 

by AT & T, who following the space left open by open and long distance corporations to the dismay of

 

the company. It was challenged in court. But in later years, the corporation between University such as

 

Harvard and IBM based in New York was more than an academic exercises, and there are many such

 

examples that are supposedly classified and usually a quarter of century or so from hitting the markets.

 

The plexus was perfected in the 70’s and we can trace some of the origins of the plexus to Alan Curtis

 

reaching to John Von Newman who attempted to demonstrate how several sides of a plane is sensitive

 

to the surrounding energy.

 

June 1997 (eligible receiver) NSA hacker demonstrated why Royal and Hamilton Group, SRI

 

International, MCI Security Services, University of California, SPYRUS, Anagram Laboratories, Hewett

 

Packard Lab, Rand Corporation, University of Virginia, Verizon Labs, etc., were not, ahead of the defense

 

curve and brought to an end the use of copper wires Virginia two years later. It also a question of soft

 

target and attacks that easily meets us at unexpected places.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Essay IV

 

By

 

Sampson Iroabuchi Maduabuchi Onwuka (Respondent) Austin.

 

1/10/2015

 

Outline

 

Original essay by Bayo Ogunmupe - 'Devaluation as a disincentive for growth' 1/9/2015

 

146 | P a g e

 

NGRGuardian.com

 

BY

 

(1) Bayo Ogunmupe (Italics)

 

(2) Sampson Iroabuchi Maduabuchi Onwuka (Respondent) Austin.

 

Interruption

 

I shall begin to discuss the left and right of Bayo Ogunmupe’s article published by the Nigerian Guardian

 

January 9th, 2015, by citing that what needed to be done to stabilize Nigerian currency in the past few

 

months have already been done and the consequences of the depreciation is part of the economic

 

evolution since at least 2008. The time he is writing about is not specific and the specific problem of

 

discourse did not make to the essay. He is aware of the trials of Naira in the context of deepening Crude

 

prices, aware of categories of International market or monotonic economy or one crop economy so tied

 

to the dollars as if these countries can measure up to US or toe the line of economic transformation that

 

we find available in these States since end of their civil wars within marking distinction and interruption.

 

Some of these standards are supportive of the International Free market and world market, but are too

 

expensive for a country that is not honored in US or elsewhere. Nigeria as a manufacturing and

 

production hub is economically ahead of China and much BRIC economy such as India. Why? These

 

countries until lately were either socialist economy or communist economies whose numbers were not

 

international. India reason well that it could not maintain the system that the British imposed on it given

 

the limited problems of fragmentation and renewed composition of a Country more diverse than Europe

 

and twice as large.

 

It is for this reason of failing to maintain accurate control of the money houses in India and by

 

consequence China or to an extent Russia, ridiculed by the burden of many peoples of the world that

 

they looked to alternate political economic system, which as cultural economic stages to free and

 

capitalist economy. Nigeria like most West Africa countries entered Capitalism from what was left on

 

their own country and has struggled against the independence in the 40’s, 50’s, and in 1960 to whip the

 

country together. Then the issue of the Civil War between 1967 and 1970 may or may not have created

 

more injuries than it solved. But at the edge of the indecision of the 70’s was the new reality of Crude oil

 

in 1975 which was said to have the ability at sustaining the country.

 

We have failed to transfer the import lessons of the Civil War to the economics of these days and in

 

spite of the debt related transformation and the age of communications which follow the postindustrial

 

society, Nigeria like most West African economies did not make the transition, hoop lashed their way

 

above the circumstances industrialization and found itself a country that was lacking in structure to self-

 

generate.

 

This is a prolegomena and has been treated by better economics in severe academic inquiry

 

into Nigerian industrial past, including for the record on this case, the use of dummy variables after Dick

 

Fulley by Ernest Simeon Odior (2013). But as I argued against his basic estimates which are leading but

 

not sufficient that between fiscal policy and monetary policy of any country is the general expansionary

 

clause showing the elastic constant and sufficiency of stress test by the actions of the Central Bank in

 

rolling back for instance some 300 billion Naira from circulation with parallel and observable effects on

 

the Nigeria economy. It is here that it seems that devaluation of the currency was deliberate when

 

perhaps it was not.

 

The crux of the essay is the issue of crude oil as the chief item of National development, that the failure

 

to allocate resources in Nigeria to production following a decade of crude oil boom leading to a peak

 

year of $120 @ barrel may be the reason why the effects of the Crude oil which he missed as primary

 

reason for Naira depreciation could not be stopped. It is not yet a free fall and it looks like citing supply

 

of money as a defense mechanism, to my view, the total issue of economic theory is in its defensive and

 

preceding dynamic roles. Defense through hedging against the reverse use of a currency to U.S, defense

 

in literal sense of contracting and expanding in direct expense and drive-in of foreign in-flow of local

 

capital or foreign out flow or sale or auction of a super currency to a local one. This has endeared

 

overtime through a trade banter to gold – no longer an affair with rise of International currency basket –

 

with French escaping the debase ridden parity to gold in 1931, an argument for US dollars first made by

 

Benjamin Strong preceding John Keynes description of Gold as ‘old junk’, although Fisher and knight had

 

more than a thing to say about before Keynes. But it took the events of Bretton Woods to invent

 

international currency baskets after Keynes, a case that was forever put to no use by role the dollar was

 

playing in the world as late as 1968 and 1969, than in the words of Paul Volcker, Charles Acker, and in

 

Arthur Burns, the idea had of removing the dollar from Gold had its day.

 

 

 

Allan Meltzer ‘History of the Federal Reserve;’ (2009), treated this subject by adding the connection

 

between US dollars to Gold and how it compared and paralleled with International currency basket

 

which was useful on to the extent of US Gold holding and clearing house. With this new measure, all

 

dollars were redeemed by US and many nations including International economies seeking to by-pass

 

the savings-glut of international currency and permeability of its currency quickly adjusted to dollars. It

 

was left to the devices of its governing dynamics that battled insurgency and large scale genocide and

 

instability to meet the fiscal policy and estimate from year to year balance sheet. The funny lessons of

 

these past decade at least with the rise of crude oil which Nigeria and other International and third

 

world economies did not take advantage off is that expenditures, especially when there are cases of

 

surpluses are usually danger signal for poor and inefficient economic adjustment.

 

These countries with little restriction are well known all over the world to be prone to excessive padding

 

from foreign currency in the name of foreign direct investment, the author opens up with the statement

 

that, “RECENTLY, the Central Bank of Nigeria (CBN) devalued our currency, the naira from N155 to N184

 

to the United States dollar. This measure will certainly hurt the Nigerian economy. The announcement

 

came a few days after the federal government announced the introduction of austerity measures

 

following the sharp fall in the price of oil in the world market. In response to the devaluation, inflation is

 

galloping with petroleum scarcity ravaging parts of western Nigeria.”

 

 

 

We can begin by suggesting for that the current devaluation of Nigerian Naira is not by design of the

 

Central Bank of Naira and if Godwin Emefiele is saying so, he is probably not sharing the real picture. The

 

Crude depreciation - even without interest rate appreciation and US Funds Rate - is the direct reason

 

why there is a depreciation of the Naira. Nigeria's failure to expand its business elsewhere, especially

 

with its Chief trade partner - the US - is the main why there are no restrain on the free fall of the

 

currency. @48 an within 50, the crude oil is struggling and the excess and nearly expensive idea of

 

buying the Naira with the dollar to keep it from skidding downwards can no longer be met. It is a long

 

economic treaty, and here, Ogunmupe analysis did not mention this very important theme of money

 

market economy, pushes the concern elsewhere and generalizes on the long term partial solution which

 

a thousand page analysis may not suffice.

 

 

 

“According to the CBN, devaluation was arrived at in order to curb negative speculation with the naira,

 

particularly by the banks, which have been putting great pressure on our legal tender. The devaluation,

 

which is plummeting by the day, is now about 10 per cent. The step was rendered inevitable by excess

 

liquidity in the banks. In doing this, the CBN hopes to tighten the monetary policy framework by

 

allowing some flexibility in exchange rates.”

 

 

 

 

 

Economic incentive is not the same crude oil price decline and the currency depreciation does not mean

 

the economy is failing. But you are in Russia and not a Russian economy. With the elasticity of money

 

constant without structures which defray unemployment through wage and price comparative, you are

 

likely in the manufacturing sector, you are supposed to be a production house meeting the attention of

 

the local economy, that squashing along the competitive edge of the Free Market. Most BRICs are

 

perpetuating the level of sound economy Nigeria is attempting, and in my view finds itself in a trap, not

 

a liquid and quantity trap which control over money should achieve during high capacity years such as

 

the run up to the 2014, and should not help to place some effective control over the money supply.

 

Here, with short bend on crude oil, there is further need to look at US model, especially Q requirement

 

of the System - although it borrows from the margins of additional reserves - which is clearly from

 

reserves and must be learned to be borrowing - which Euro dodged by opting to exercise their hedge

 

and option elsewhere, Nigeria's lack of Gold resources and plummet of materials outside those of crude

 

oil, requires a kind of cushion, a creation of money from thing air or nothing, to earn not only the

 

stability of the currency but purchase a discount for the future.

 

 

 

Fund's rate - even at a less than 1% shift in emphasis its problem a just requirement for seeking a new

 

wedding for Ghana and perhaps South Africa. In some sense, scaling its interest rate with a nearest

 

common foreign denominator such as a Cedi or the Rand, as such place the emphasis on the Cedi and

 

current baskets in West Africa than the Euro and the Dollar of higher and more demanding

 

denominator, it should also help the inflation trap the country discovers itself to thaw by offloading the

 

gaps and inflationary pressure to elsewhere such as Ghana and neighboring ECOWAS economy who are

 

not Nigerian economy and easily immune to it. Contraction of the money supply it’s probably not the

 

remedy at this point, case in point is themes of a Von Mises on Phase II inflationary problem with

 

respect to employment and money supply away from quantity of money and phase I currency bias in

 

what Friedman calls MI and M2, in fact, the defining shift through a consumer based recreation of

 

money or its elasticity, may have a shift from private to banks a meeting standard for M3.

 

“Devaluation will also stop speculative practices; stop the evaporation of the naira. While we cannot

 

influence the increase in the price of oil, these CBN measures have been adopted without evaluating the

 

impact on the Nigerian economy. Indeed, the net impact of a weak naira is an unsustainable spiral of

 

inflation raising the costs of petroleum products. Sadly, the improper management of the economy and

 

fiscal indiscipline over the years is responsible for the present anxiety. This is all the more so, as oil price

 

had remained far above the budget benchmark for decades, peaking at about $120 per barrel earlier last

 

year.”

 

 

 

Here, institutional appropriation of quantity of money is left the benefit of big and investment banks, a

 

case that should have saved the Nigerian system dynamic by now had it been used for other things than

 

the lack of foresight and the limelight of seeing investment away from Nigeria and a hedge for the

 

purchasing power. The ability of financial institutions at a time in the history of economy in steering its

 

course through uncertain and deepening crisis, is usually within the crass of M3, for there comes a time

 

when the power of the prevailing market must take a stand against the structure on which the society

 

and its economy is based. Does not mean an economy such as Britain or specifically England with Banks

 

return of investment and GDP three to four times those of England is saved from the bifurcation with a

 

depreciating Gold for instance, or a depreciating commodity based on cash crop such as a Crude Oil; it

 

matters that the end of a nation's ability to expand and procure its Fiscal policies towards meeting the

 

ends of price controls, either in investment through debt (bond) or through market these debts such as

 

monetizing it, makes a different case for the redemption of the asset class where British economy and in

 

our case American Asset class is saved from corruption or inflation.

 

 

 

The situation is not dissimilar to the Nigerian case and it’s entirely within the level of exposure of its

 

Banks to exchange and partition currencies as they see fit which is the same as profitable. That the

 

routing financial complexes take center stage in the M3 and Funds rate (intra-bank lending) dominates

 

interest rate and quantity money. It also leads from the shift from losses in crude oil to something else

 

without injuries to a significant portion of its present market or the value of currency. Controlling the

 

distribution of currency in Nigeria is live and required financial engineering, but interest rates at a high

 

of 13% and overnight lending chugging along, is set to create a stability pigeon hole but it is not the

 

stability of the Banks that are stake since it does not mean well with 300 Billion Naira withholding at the

 

 

 

Central Banks, but the problems of credit which shift from credit to quantity of money, is to be well

 

understood and compared ideally and independently from rate to diffusion, from diffusion away from

 

quantity of money where as interest rate over 12% was discouraging credit or attracting Nigerian Naira

 

(Nairu -my doing) to Nigeria from anywhere in the world including Nigeria.

 

It leaves us with other options, that the motivation or athleticism to dollars or pounds or Euro is stifled

 

with a disbursement of nearly $200 billion, purchased at a heavy rate and may only temporary require

 

additional buying into the NSE to satisfy their new partnership with institutional M3.

 

“Earlier, the volatility of oil prices was long in evidence, but the Federal Government ignored the signals.

 

Thus, the government should be blamed for lack of creative problem solving in not diversifying from our

 

mono-cultural economy. Ordinarily, devaluation of the naira would not have been a problem if we had

 

plenty of goods to export and little to import, since devaluation benefits exporters.

 

We can go for it to the extent that M3 has one major issue; where to place the inflation which the state

 

or a city or nation will have to control when money shift more from private to major traders. I think any

 

argument in favor of buying Cedi or borrowing from Ghana through a direct and their exclusive buying

 

on Naira at a commissure rate excluding the higher purchase of crib notes and cards for balance of

 

traffic or investment between Accra and Lagos - at even 200 billion with 10 billion monthly agility, may

 

create a gap for Naira against Cedi, may trap Nigeria in relational descent over the next few months of

 

foreign denominator and exchange in spite of what may happen to the Crude oil, may leave Nigeria a no

 

show for international market but in the end, it will serve its purpose of defraying the currency cascade

 

and currency depreciation that is more than likely to continue in Nigeria with US acting from even 2%

 

Fund’s Rate or higher….

 

“Now we are worse of as we shall need more naira to buy goods sold in dollars. Unfortunately, Nigeria

 

cannot manufacture much, owing to a combination of factors among which are high cost of production,

 

high interest rates and an unstable power supply, which have hampered local industries. Interestingly,

 

the finance minister opined that the interest of the common man is a priority in Federal Government's

 

strategy for salvaging Nigeria's economy. We urge the government to clearly demonstrate this through

 

clearly defined programs and policies that would cushion the people from the effects of devaluation of

 

the naira. Perhaps devaluation and the ensuing austerity measures would have been a blessing in

 

disguise if it would force government to develop other revenue sources, establish fiscal discipline, cut

 

cost of governance and establish an interest free, collateral free and discrimination free bank product to

 

develop the country. “The second disincentive to economic growth is the abdication of leadership. By

 

this we mean that the people in power have refused to enforce and enthrone regulations, which can

 

ensure economic growth; the overbearing attitude of our regulators, which culminates in poor attitude

 

to work and abdication of authority and refusal to apprehend regulation violators.

 

 

 

The second alternative should be looking to end the current Dutch system in Nigeria, revert to the

 

statuesque given the new economy that is developing from the old. The idea of privatization is nowhere

 

confined to Nigeria and has been expected to should lead to better productive economy but at the price

 

inaccessible to many Nigerians (150-168 to a dollar) and even big production house who turned to

 

cheaper or supposedly cheaper alternative such as Asia brand and China, there is no where we can close

 

the gap on Nigerian economy and the levels of economy demands – especially in energy which Olusegun

 

Aganga has taught us all the lessons of confidence game and economic czarism, but have failed to

 

deliver the more pressure demand of energy through a direct means to an end introduction of metal

 

separating Nuclear energy, which usually takes at least 3 years and are made to fit for even West Africa

 

with a balance sheet of $20 Billon which most West African Countries can’t afford but its guaranteed by

 

the US Energy Institute. The failure of this effective distributive source of energy for even the least

 

production of medical supplies means a direct to market penetration of goods from any part of the

 

world to Nigeria for Nigeria to stay alive.

 

 

 

In essence, the promissory notes of crude oil stability that OPEC has little or no power to deal with

 

suggest a questionable ending which the circumstances of the Shale Oil and its miracle drilling from any

 

in the US, should help guarantee, that spanking the crude oil to submit below $48 @barrel was sending

 

export ridden economies to the board room or import expletive economies such as Nigeria to the

 

theater of change. We compare all of the above mechanics to the temporary issue of the Nigerian

 

current exchange rate, which at 168 to the dollar is showing signs of debasement, which the payment or

 

debt recovery means is not so much achievable and hence a further depression unless we monetize out

 

interest with a future option and adjustment to Ghana even at 2% preferred consideration for the

 

returning number of years, inducing Ghana in my view to buy enough Naira is callable and protected

 

bond, that should be debentured at the similar rate of interest current rate with or without discount. In

 

so far as these areas are not taken seriously, we may look at the item of hope that a shift in OPEC

 

capacity or use of Shale means to open and frack Saudi Arabia may signal an end to the trading block

 

given the new and easier way of achieving crude and done oil.

 

 

 

According to Bayo Ogunmupe, there are cases of taxes and government actions which mitigate against

 

the progress of the business men and women, that, “Besides, most of the policies churned out by the

 

regulatory bodies in Nigeria have over the years effectively succeeded in stifling or restricting and

 

hindering innovation and investment. This has led to a situation where the bureaucracy dictates the

 

pace of the growth of the economy. Another worrying issue is double taxation whereby entrepreneurs

 

are being squeezed by multiple taxes, levies, red tape as states seek to shore up their internally

 

generated revenues. This is why the World Bank observed that Nigerian businesses spend valuable time

 

and resources trying to comply with a myriad of local regulations”

 

 

 

Whereas his statement about taxes, levies and red tape, did not mention all the money existing

 

anywhere in Lagos, where much of the taxes is spent in Lagos and mainly Lagos and in parts of the West.

 

In this case, a collective bargaining also of the remnant of the West African ECOWAS economies may put

 

a few words on how they subscript for Nigerian foreign exchange, which if and should the Barrel up to

 

60 or close must in view act quickly enough in re-denominating its currency. We may argue that the

 

economic balance sheet stated between Ghana, South Africa and Nigeria, is a way on encouraging

 

participation of other satellite in Africa to perform their due diligence in encouraging competitive

 

advantage and rating between the Africa countries and more than one economy, between its regional

 

balance sheet and swaths, such as a stability away from being rated internationally can be achievable

 

through exposed any country in Africa is to another and not necessarily the opulence and poor market

 

strategy that measures say Nigerian and its crude based currencies to US and other Foreign currencies.

 

 

 

What US needs a challenge and not another cheap currency for instance Naira (Nairu) that offers no

 

resistance whatsoever? If there are cases that inviolate the trade banter between Nigeria and US – with

 

or without – currency rate, it is through the use and abuse of its currency exchange, that Nigeria can

 

offer some relief a US market is mainly due to its foreign exchange and perhaps crude oil, and we

 

continues that the statement that “As World Bank said further, removing those burdensome regulations

 

is an essential step towards a stronger private sector of the Nigerian economy. After sampling the

 

opinions of world-renowned economists, we have come to the conclusion that the key to unveiling the

 

troubles of the Nigerian economy is to be found in recognizing that the rebased economy has

 

highlighted the absence of structures in our economic policy making. This means that there should be an

 

immediate transformation from primary to domesticated value added production.

 

 

 

In normal light, a fancy look at the crude oil prices which has little or no future should revert to the more

 

serious contagious issue of currency exchange and buying power. Re-dominating Naira at this period is

 

sending wrong message, it should have been done when the price of crude oil was up as a hedge against

 

the rainy days as these when the prices are descending. If we climb with easy does not easily follow we

 

descent as fast, but it measures the rates of descent which is far more complex and velocity driven than

 

the poor acceleration due to gravity of money supply or in banking self-supporting gravity of money for

 

M3 and for Banks and their degree of penetration, locally and elsewhere.

 

“Although reports suggest that countries like Thailand, and Malaysia have experienced similar growth in

 

the services sector, but that this in itself does not justify the composition of our Gross Domestic Product

 

 (GDP) that our rebased economy just revealed. However, world economies are measured by the

 

strength of their industrial capabilities, which give verve to the service sector. If the service sector has

 

revealed an uninspiring contribution of a mere seven per cent, it means that retail trade is driven by

 

imports. This implies that the services sector put a lot of pressure on the exchange rate of the naira.

 

Although contraction in this case is not achievable through shifting money from public to private

 

through Government placement of Naira held bond. But if the measure of the final accounts for foreign

 

exchange such dollars and pounds are consider similar quantity as final product - like any other product

 

imported to Nigeria, the Naira depreciation is shifting money from private to big entrepreneur and

 

 

 

Banks trading above other Banks and perhaps not the other way round. The next level is a credit

 

squeeze due to poor rate of returns or negative return rates, and then Asset bubbles and you are in

 

depression. There is no economic resistance even with the paper fortune of Europe and currency, the

 

only discount could only possible if Jonathan is willing to borrow from private directly and hope crude oil

 

appreciates to $60 by the end of the year 2015. Ogunmupe continued his theories to GDP, which is here

 

a spent argument but makes a headline interesting measures are taken in business but,

 

“However, all over the world, economies are measured by the strength of their industries, which gives

 

verve to the services sector. In Nigeria, the services sector is dominated by wholesale and retail trade. If

 

our manufactures contribute seven per cent to the GDP, it means our retail trade is driven by imports.

 

 

 

This puts a lot of pressure on the foreign exchange rates. Given that our earnings from oil are

 

plummeting, the demand for foreign exchange to sustain our imports can only come from running down

 

our external reserves.” US is an opportunity that Nigeria is blowing like smoke, to the point that the

 

country is generally deserving of the treatment it meets with other nations of the world. Consider that

 

after losing many Nigerian lives and soldiers in Africa Military led peach efforts and illegally conceding an

 

oil portion of their country to Cameroons and some profligate foreign criminals and Crude oil tycoons

 

who are drilling these places for Crude oil unfettered from these Nigerians and Cameroons, that Nigeria

 

saving Liberia, Sierre-leone and seeing that Charles Taylor received useful and documented military trial,

 

including their functional roles in forcing both UK and USA to release Mandela, breaching the gaps in

 

Congo and so on, is not recognized by the United Nations permanent Security Members, many of whom

 

have not done nearly half in managing regional peace and conflict.

 

 

 

Nigeria was opposed by surprisingly many countries are a member of the UN Permanent peace keeping

 

and security member nations, including Germany of all, especially Germany that would have convinced

 

us that they were very liberal. Do these nations entertain any hopes of destabilizing Nigeria or colonizing

 

it? The answer has no merit whatsoever for Nigerians for a start, we may compare the dismissal

 

tendencies of these nations and many other countries in which Nigerians and other Africans find their

 

home, as a receipt from some of these assumptions with Nigeria for a start and their complete or nearly

 

complete ineptitude on what they should have started to accomplish in US and in Europe since 1900.

 

There are cases of accounting standards and why there is an issue of corruption, this happen when there

 

are cases of corruption in U.S and elsewhere. Nigerians are known to have difficulty keeping a good

 

business straight, largely due to the problems they experience in US and elsewhere. But this is not

 

always the case; there are cases of Nigerians in high call areas of American economic community who

 

are working with others towards improving a career discipline. But the ultimate idea of moving from

 

Africa to United States is not to have your business licenses confiscated by some judge over some

 

business which is not clear or have some irrelevant low court bar you from traveling even with your

 

attorney’s present leading to damages to private and personal businesses that couldn’t have imagined.

 

This means that the growth of American as a business network and empire is one that allows the likes of

 

these Nigerians with some interest in balancing their economy among others to have sown some seeds

 

of intra bank and international development over the years.

 

 

 

If the questions of corruption arise as they do elsewhere, the advantage of having US financial

 

institution over the last two centuries should mean that adequate public interest without the dangerous

 

secret maneuvers to steal these financial lending trees and Banks in US. Should they advertise their

 

interest in UK, these resources bound Nigerians may have benefitted from using UK to increase their

 

penetration into Europe, should not have limited their resource base to one or few banks, but as in

 

regional banking, placing some faith in US, UK, and parts of Europe such as France would have staged a

 

survival of Nigerian or African economy in times like this, both for balancing the currency and for prized

 

interest in Asia such as China when they needed.

 

 

 

Reading a portion of Chimamanda Adiche’s ‘Americana’ (2013) gives you an impression that Nigerians in

 

US from in Taxi business to the Medical Residence are already cornered by their accent and job

 

description that only these Africans are victims of profiling. In one of the It will be difficult to do

 

something else as a Nigerian who is not in Education or in US based foundation even with 80% level of

 

US service jobs. The lessons from medical resources available in the U.S are more than enough to push

 

the limits of the life style of these Nigerians. But having no foreign funded locally credited structures In

 

the United States makes the profession a dead exercise.

 

 

 

There is a large presence of Nigerians in Asia countries such as China, many if not all of them as

 

Self-supported, ferry goods and services from any part of Asia to other parts of Asia, ferry goods and

 

Services to United States especially in New Jersey and New York with cheap China products on the

 

garment industries and around Canal street, or from Asia they ferry goods into Europe until they injury

 

to the business after 1999 due to embargo placed on Asia products. The more reliable pathway is

 

Nigeria via China or in recent time Vietnam, Nigeria via Taiwan and Hong Kung, and from these areas

 

they are joined by Cameroons and South Africans – especially White South Africans who literally handed

 

all the business connection to dictate to these Africans – and with other Africans, they maintain a

 

continues injections of materials from Asia into Africa. No doubt that over time, some of the traditional

 

pathways will be called into question like the case of the Carpet and fabric, once a product of the

 

mainland China and the rest of the Africa, are discontinued due to new industries in West Africa that

 

attempt to emphasize local production of fabric with chemical raw materials from Ghana or Nigeria to

 

boost.

 

 

 

In this case, unlike other cases such as engines of productions, there is a case of relief which in primary

 

levels is not important since Nigeria is not a production hob, may have at some point in their own

 

existence been considered a metallurgical industrial sub-Saharan African like the Bantu whose metal

 

workers in Southeast Nigerian and Northern Cameroon were claimed to have reached the East and the

 

South of Africa. Beads production houses also in South East and South-South Nigerians are discovered in

 

their hundreds of thousands among the Igbos and the Bini, as with the Akans and Ashanti that are also

 

known to have manufactured pure precious metals such as Gold, would emphasize the importance of

 

business penetration of other West African Kingdoms until the coming of the Europeans in the 18th and

 

19th centuries. In setting a new standard for the development of business and agriculture, the author

 

compares Agricultural schemes in Nigeria without the examples of Kwara and South African White

 

farmers from Mozambique many of whom have since returned to Mozambique, but in his estimates,

 

Ogunmupe indicated that, “Thus, the federal government should recognize the danger so posed and

 

diversify quickly to forestall an outright collapse of the naira. In this regard, Federal Government has to

 

plug distribution loopholes in its Agricultural Transformation Action Plan. It is noteworthy that both

 

manufacturing and agriculture output have remained stagnant. The urgent step required is collaboration

 

for increased productivity between the federal ministries of Agriculture and Industries, particularly in

 

areas of private sector investment.”

 

Productive capabilities of West African nations are no match for the Northern African, especially those

 

who lived along the Nile. The only reason why there is a brief material case of comparative is that these

 

markets for instance in Nigeria and the idea of metal production which people claim to have come down

 

from others, is one old market, suggesting that Africa like Asia especially China and India as in this

 

Nigeria and other African countries were caught unawares and napping. The prize has been paid,

 

including the age of Slave trading which forced a lot of people out of the country. In the circumstance,

 

the problems of having Nigerians and others lose their respect to some country from Europe who in the

 

last 100 years had proved themselves in war and so on is due to the failure of these Africans and

 

Nigerians from taking advantage of the opportunity that common market avails to them. At the rate

 

Nigeria is squandering their business opportunity suggest that either the country in question is hoping to

 

perpetually strike beside others in all classes of respect and decorum or that they expect to growth

 

economy through a form of debasement. Ogunmupe concludes that, “Indeed, the best ways to

 

strengthen the value of the naira are one, expand the volume of non-oil exports and services and two,

 

and enhance domestic competitiveness that will reduce the demand for imported goods and services:

 

because a pound saved is a pound earned. Howbeit, we have to expand our manufacturing sector

 

because as long as our industries remain stagnant, for that long would unemployment remains a threat

 

to economic development in our fatherland.”

 

 

 

A classic example of some kind of debasement is the future business of the current Executive director of

 

Nigerian Stock Exchange Oscar Onyema in handling additional call for investment in the NSE when the

 

exchange is already overweight. You can only dream on a flash in the investment pan if you are looking

 

to improve you economy through a veritable estimate of Arthur Okun’s 1% rise of inflation to 1%

 

condensed GDP appreciation. In some measure, the expansion of Nigeria and in fact Ghana for

 

comparative sake, is an appreciation from inflation not a normal real growth, that a growth of 7%

 

Nigeria is based primarily on its inflationary curve and pressure, fact is that the country is struggling in

 

spite of the numbers it is crunching out, that further expansion on the Nigerian economy is in many

 

ways than a matter of inflation, either core or derived from the CPI numbers consisting mainly 5% or less

 

or total control money economy.

 

 

 

Promoting Nigeria as a viable business destination is within the replacement strategy of creating

 

additional loss of Governmental control to over-sea based businesses that we can narrate from other

 

parts of the country’s stock of real exchange, that the total amount of resources available to these

 

Nigerians from all raw materials are not meeting standards from a progressive International economy.

 

The main event would be the crude oil, whose life is not caught between a ‘hard place and a rock’.

 

Put it differently, that the market structure of Nigeria is older than the foundations of United States as a

 

country, that these intra-township market links are still visible for almost 400 years and sometimes

 

more, than the God of Iron that brought melting to Yoruba and Ijaw called Oliseh or Olisah is in a long

 

line of Igbo history and a quasi-Igbo of Benue, Kwara, and what was called Bendel Igbo, equally an

 

attribute of God or from God, that the Oduduwa referring to the coming of some outsiders to Yoruba

 

who defeated the mask-wearing ‘Alagbara’ (Igboid group-Igbo Ukwu) out of whom the name Yoruba

 

(Oba’s servants) was derived from these people, and were Iron workers, meaning that these market

 

suffer from poor local and international strategy but has been in existence, that the transformation of

 

the Nigerian markets is not in current an International see only, it requires a transitioning of small

 

business from nothing to something and leeway into the Stock Market as a way to generalize and

 

publicize their accounting, only then can expansion of the NSE would not revert to debasing of the

 

Naira. In the event that we look at the idea of Foreign Direct Investment in Nigeria, it looks likely that

 

the hope of making this happen in US here begins with what other developing countries have done in

 

US, that France, London, Japan and latterly China are Americans biggest business ventures partners and

 

have a mast of financial foundations and groups, a mast of business groups such as Banks and Banking

 

institutions that enabled these countries to enhance their staying power in the United States and

 

simultaneously in Europe.

 

 

 

The open market manages by either Nigeria or Ghana in this case, is such that they deserve more for

 

supporting world markets more than half Europe or even United States let alone China is enjoying.

 

Nigeria toes the free market line from day one and has been a victim by its own choosing of

 

international dumping and foreign investment interest. A rule of comparative advantage between

 

Nigeria and the rest of Europe, will point that majority of European countries are well ahead of these

 

Nigerians. This is in fact the case only to the extent that total amount of Nigerians (170 million) is nearly

 

two fifth of all Europe, means that there are more mouths per country to country to feed as there no

 

European country with over 120 million people. It leads that the weight of resources that circulate in

 

Nigeria is a thrift sum compared to what is available to them through their own oversea and in land

 

business exposures. The only way to help these Nigerians help themselves and in the end help their

 

respective nations which these European countries are doing is to have Nigerian financial institutions

 

posed after the general but advocated and independent financial institutions in these United States and

 

in Europe.

 

No great commission is needed to demonstrate the profit of South African economic agenda for US and

 

its Global Initiative, than the biggest banks in Africa are easily South African and operate free from the

 

Government. Either the current crop of these Nigerians and financial leaders are not used to trusting

 

others and themselves to be selling only a Billion over the Stock bound bond market which was called up

 

in one hours of meeting the market, than the possibility of really connecting to US through a

 

demarcation of 25% earned resources from Crude Oil and from other business banter between Nigeria

 

and United States.

 

 

 

It is my view, that all African countries should have at least by now account for at least account for

 

banks that are self-supporting, with gravity of currency schools capable to weeding through the

 

securities laden American market necessary to be part of Federal Reserve of a local network such New

 

York Federal Reserve. In the case of advertising their investment options, the Maryland and Baltimore

 

securities dealers with the Federal Reserve are mainly insurance based and contain a few African

 

American owned financial institutions, but from the histories of both Continents of North American and

 

Africa, there should at least be now several securities from Africa and more than two from leading

 

economic communities in Africa; Nigeria, South Africa, Egypt, Morocco*, Libya, and others such Ghana,

 

to have a staying presence in each of the securities dealing Federal Reserves throughout the US and in

 

UK for a Start. Such business venture like those of BAFTA, CAFTA, or NAFTA, with the edging up of the

 

Banks and financial institutions have a thing or two about the FOMC which Nigerians thanks to free

 

network resources are following on daily basis, that the number of even African American businesses

 

present in these areas of interest would not survive more pressure saving these invested interest from

 

Africa and Caribbean make their presence known and ruthlessness for business and accounting also

 

Known.

 

 

 

 

 

 

 

Essay V

 

MINTS

 

By

 

Sampson Iroabuchi Onwuka

 

Today we may speak of a new co-operative economic indicia called the MINT Coined by Jim O’Neil;

 

composing of Mexico, Indonesia, Nigeria and Turkey, a grouping that alarmed the best of us since we

 

are certain that Nigeria is only half awake from almost two decades of military dictatorship. MINT is not

 

on the same economic circle as BRIC which was also coined together by Jim O ‘Neil. A category of these

 

interesting economic combination such as Asia Tiger, Asia Four, BIIC, Group 7, Group 8, and sub-regional

 

economic groups do not really meet certain of economic corporative standards saving for Group 7 and

 

the economic treaty for World Trade Organization. These groups of economic stability pact has different

 

characteristics – in fact most major economic groups have and these characteristic determine the left

 

and right of the markets – what to expect and when and why certain circles affect them the most. The

 

major emphasis on these G-7 economies and perhaps BRIC, is the role the sovereign currency,

 

sovereign power in lesser and emerging competitive economies or International Markets. The Key policy

 

of G-7 world powerful is sustenance and the how promote the third tier corporations or nationally

 

owned corporative for the easy OECD operative. The BRIC and the G-7 have one major characteristics –

 

they are found in major economic regions of the world and differ politically from each other.

 

Indonesia, Turkey, China, Japan, Taiwan, Malaysia are element of business families that have graced the

 

venturesome business partnership with Nigeria, all of these countries in the delineating years of

 

Nigerian military administration itself a consequence and continuing evidence of a country or a nation in

 

Disarray or a showing of instability, from 70-75, 83-91, forcing Nigerian into long list of indebtedness

 

tied to Oil companies and their spurious deals with OPEC oil International, whose repay

 

trap damaged the currency of these Nigerians. The purpose of revising some of the basic assumptions

 

of Jim O ‘Neil MINT is to expose some of the errors with International Markets and why perhaps MINTS

 

is preferred over MINT.

 

 

 

If these four countries Mexico, Indonesia, Nigeria and Turkey aspire to healthy and useful economic

 

stability especially through the use of currency, it may be meeting for any of these countries to

 

understand the market potential of the regions involved, and show why there are scales of interest rate

 

along the participating countries and why they need to scale. Credit based interest rate and risk averse

 

countries of the world usually pay lip service to the idea of regional economies, -f or instance the

 

Economic Communities of West African States or ECOWAS is a version world market and regional

 

economy that nearly failed in its expectations. The reasons are not that simply but a fact that the

 

structure and wisdom of dynamics or governing dynamics of any economy involves the reduction of the

 

major power in a region is other to free the potential of other economies.

 

This is hardly ever the case in region of the world such as Russia and in Africa, North, South and West

 

Africa. A plague of dominant South African economy is still suffered in South to the East and in recent

 

times to West Africa. A plague of Egyptian dominance of North Africa lasted till the restructure of

 

Morocco and its banking institutions. There are characteristics that these new teams of economic

 

corporative suffers when in the instance we speak of Nigeria’s awakening to Cell phone and to new car

 

companies and reassessment of its external bundle rate, the country fell short of all expectations and

 

revealed alarming degrees of fake and non-existent defenses. The other attempt to realign these

 

countries in major regions of African along economic pathway is a censorship that is not devoid reasons

 

and experience – at least any funding towards the future case study of the failures of super economy in

 

a region or the problems of civil conflict due to the influences of international, multi-national and

 

well-coordinated companies in the breaking and caprice and control of struggling neighborhoods, a cast

 

between positive economic value and the issue of United Nations peace keeping agenda.

 

These countries commercially generate over 1 trillion dollars in GNP with Mexico nearing 1.7 trillion year

 

to year, several hundred million behind Texas alone not adding California with over 2.3 trillion GDP.

 

Nigerian from the list is lowest performing economy with almost no international measure of structural

 

development to compare with Turkey, Indonesia that is clearly the largest market in the four, to Mexico

 

that is luckiest of all them, and yet Nigeria is half a trillion in GNP with a few negligible sparing from

 

other West African countries who account for a large percentage of new investment. In the long run,

 

Nigeria may offer growth opportunity but it is their role as a regional economic headgear that should

 

will dominate the outlook of Business in nearer future.

 

 

 

Whereas these Countries in comparative relationship with other groups of growing

 

economy offer assortment of market and business interest, particularly in the areas of crude oil and in

 

the area of paired resources especially for Mexico with both the opulence and resources to hold to their

 

new found optimism in a shadow of new world market order. The argument is not that Nigeria cannot

 

belong to this group given the structural weight of their industries, they have a sharing with Turkey in

 

terms of the penetration of businesses, with Indonesia ahead of Philippines with higher mid-income

 

earners and population exceeding 150 million (170 million), are both English speaking which these days

 

is just a normative and with comparable delivery rate in resources. In respect to Mexico, it has a pairing

 

through oil, a communication problem of history and language – that for Nigerians some idea easily

 

Mexican in meaning is quite a mouth foul – and in respect to language, Spanish speakers or Latin

 

Americans are almost unheard off. But these are temporary issue given their experience in dealing with

 

US and Canada. But in form and in need, the scale of preference should place Mexican interest in Africa

 

on a playing field such as Angola, not that Mexico need less penetration of its oil field, but in compact

 

with OPEC which Mexico is not nearly part of, its presence in Africa gives a breathing space and may in

 

the end save it from sinking further down with inflation since 1993 on its new currencies.

 

 

 

 

 

Whether or not Nigeria belongs with this MINT group is not a financial article, it is however important to

 

point out that the country has a long history and the current new development in Nigeria is hardly the

 

brighter days which for many economist is somewhere between the 70’s after the end of civil wars and

 

sometime in the 80’s when the military returned to office. The economic progress in Nigeria and in the

 

80’s are still visible including factories which were built by Nigerians with some sparing from those left

 

by the English and Dutch in the 60’s. These factories due to civil strife in the country fell into disrepute

 

putting some dumb-ass clog in the wheels of the economic progress following a population that was

 

expanding exponentially. The only remedy was the exchange rate which gave return of interest and

 

investment to Nigerian business groups, all of these could not last given the increase in prices in doing

 

business in Nigeria and West Africa, and with the Dutch system of matching Nigerian Debt to Oil

 

Companies who fumbled military experts in Nigeria into signing documents left Nigeria indebted with

 

cash call furnishing from banks that entered Nigeria through oil companies creating more and more

 

problems for the exchange rate and in the end, the currency spread was so wide that Nigeria was called

 

an economic crisis. It took long and practiced intents of newly elected Nigerians to gradually grind these

 

forces to a halt, including the extra-ordinary effort by the Ngozi Okonji-Iweala, who asked through

 

World Bank that the debt should be pardoned.

 

 

 

But in terms of material resources of South Africa and their highly indulgent attitude to business which is

 

meeting for Asia Tigers, more responsible and complete given their levity to Europe and American

 

opulence, their nomination into the BRIC as equal to BRICS is good and bad news, mostly good news

 

since it savors South African entrenched mineral resources in the conceived and deceptive nudging of

 

China who introduced South Africa to the BRIC and for the fact they have a better meme to settle

 

against these Nigerians, their role was expanded. There are no degrees of possibilities for these

 

countries to deal with South Africa, although South Africa is not Nigeria is attitude to business, it has

 

healthy and very experienced traditional business environment that are not far behind any nation on

 

earth including building nuclear energies, but are trapped along the lines of 1% super rich, poorer south

 

Africans now in power, and are smaller markets compared to Nigeria. South Africa is truly a BRIC, it can

 

manufacture anything for European and US industries and responsible for some of new line of green

 

light in Nigeria and Ghana.

 

 

 

There are several reasons behind the possibility of the breakdown in business relationship between

 

Nigeria and these countries, especially Japan and Taiwan in the inception of Nigerian Electrical Power

 

Authority (NEPA) and comparative quality of these co-operative countries in the 70”s to Nigeria. Their

 

currency rates were not tampered with ease and the margin of error will convince the rest of us that the

 

role of big corporation in nations building begins with the privatization scheme and how well they

 

survive the transitional process. NEPA in Nigeria offers so well that the price of paying for the least

 

possible service does not reflect the balance sheet of the fixed income earners.

 

In the earlier possibly imaginations of Nigeria struggling under the canopy of

 

 

 

West African economies, it looks like the success of even the nearest Franco neighbors; Cameroun,

 

Togo, Benin, and Niger, all surrounding Nigeria, including distant Gabon, found market Nigeria for their

 

products making its way from France and production economies in the World. These the growth in West

 

African countries is so zero that the gap now enjoyed between some Asia Tigers and Nigeria is not saved

 

by the breaching of these gaps by South Africa. We may look for the reasons why there was such

 

breakdown of business relationship between China and Nigeria in direct and active business coexistence

 

in terms of the every other business of interest other primary government arrangement, or

 

for Taiwan its mouthpiece for long, to have been a problem derived from all.

 

It must be said that Nigeria from its earlier years have always stressed the importance of its currency,

 

 

 

 

 

And from those earlier years until fairly recently, it has tried its hands with various means of managing

 

Its currency including the occasional attempt at reprinting its notes to stem the tide of laundry. Some of

 

the measures seem to work their miracles but not all the time, and presently, we are dealing

 

with some problems which deserve the attention of all our well-wishers. But in the currency cut throat

 

business and its 'Currency War' of nations, no country can better advice Nigerians than Nigerians. It is

 

obvious and large by the extent of buying indulgent charisma of re-telling of what happens to a green

 

basket from mature can as they turn yellowish with time maturing into the brown baskets from cane. If

 

you are lucky in getting to experience the transition evident in the general life of a green basket since

 

the usual process is that it leads to something and perhaps an end. Africa history especially these new

 

nations are perhaps not that different.

 

II

 

The intent of nation builders has never been to forge a state that live forever or have a people too

 

familiar with longevity of State such as Egypt and in mimesis Rome, speak of the Foundations that will

 

last 10 thousand years. Perhaps Egypt and its claim to history reaching 100 thousand years, leaves much

 

to be studied and desired concerning the evolution of a super-power and whether or not it is possible to

 

gauge the age of this super power state from the corridors of politics or religion. Rome is not Egypt, rank

 

far below Phoenician which they destroyed in Cartage, rank lower than Babylon, and in so far as the

 

dominions of Persia and Assyria, Rome belong up there but nowhere formidable. Macedonians have a

 

titled history that compares with Rome and their penetration into deeper areas of the world was

 

compared mainly to Mongols and their Genghis Khan. In rear light of more recent stories, neither the

 

 

 

French who no new comers to world business or the English or the Dutch approached the territorial

 

integrity of these nations before them, including the long winded audacity of Islam who not only

 

brought religion to their areas of world but also their business. If Syria is considered … of all of the

 

neighboring due to the opulence to the rest of Asia and Africa and Europe, attempts at taking Syria

 

occupied leaders of all meaning going as far as Jordan and Egyptians whose obelisk are still found in

 

several parts of that Peninsula.

 

When the Mongols arrived in parts of Syria, they were not bringing

 

religion to these cultures and people; they were interested in business and what the area could

 

generate for them. When the Nestorians took their possession and religions to Turkey and into China,

 

the religion survived but more than the religion, it was the Silk Road to China that remained the

 

connecting point between China and the rest of the world. The comparison between Egypt as a super

 

state separated from the problems of the Middle East or at least meddled of slovenly into it, it makes for

 

the augment that the Amana letters where the Amurru and sheep hoards paint a picture of Egypt and

 

pharaoh whose help were solicited for troubles in these areas. Religion, people, politics and money are

 

all part of the same struggle and require some measure of discipline to have access to what it could

 

offer. David Livingston traveling through parts of Africa believed that the future of Africa was to be

 

revived through Christianity and Commerce, he wasn’t kidding, Livingston may have condemned East

 

Africa but he was passed on a gentle man missionary, and even in our generation, some people consider

 

this man whose actions nearly mitigated against a whole generation of Africans are a saint. It is an

 

understanding that emotions play into money but for all corners of world business and I for one, have

 

tried to argue, people can only resist the advantage of price only for so long. If there was in Africa – even

 

at the age of Slave trade – a market or a national economic fronting that was similar to what was

 

available in Europe, the movement of resources would have shifted from Europe and the Americans or

 

Asia to this area of importance in Africa.

 

 

 

Lack of stable African markets is the one the abiding reasons why Slave trade endured, for even there

 

was a stable African economy, these war years in Spain and the course of redemption through labor

 

under the Charles V, would not materialized into Slave trade or for long. It was convenience of

 

trafficking people for money to a place that was outside their means and ability that gave it a whole

 

century and half, and when the end came for slave trade and renegade European soldiers take interest

 

in Gold in East Africa and diamonds in South Africa, that a new and more confounding problems of

 

easing European market through rapacious African wealth took moral significance. Once more justifying

 

some action chiefly motivated by money is placing a latch on the door made of papers. It is hardly the

 

case that we may question some of the assumptions in the businesses of these foreigners in Africa or

 

others in Asia and in Europe, or in reverse, people who visit some parts of world for private interest.

 

What we may argue that the styles may differ, people may differ but generating income and benefit is

 

sine qua non of co-existence, that efforts of any group of nations or continents in any part of world

 

towards a future should be held together along the lines of the economic co-operative and protections

 

of Commerce from rapacious attitude of the general public.

 

 

 

It is here that the word I for disequilibrium and thou for attempt at economic equilibrium leads us to

 

compare to what extent, say a new market with a helpful serving promise in West Africa could help

 

generate an unforeseeable stability that necessary for growth in the Continent of Africa or how the

 

regional franchise of their demand and supply market industries is buttressed elsewhere – either in

 

some parts of the deeper SEA (South East Asia) or with some capacity enabled elsewhere in what may

 

be achieved through scalability of Interest rate in North America or in Europe. Reading through Europe

 

pamphlets for regional belter weight for African economic environment and business society, we cannot

 

fail to have noticed that part of the heavily edited pamphlet is proof of their capacity to farm the region

 

as part of the older exercised economic practices of extending European goods through trade fair and

 

money function that they are scaled through overnight lending. It may seem that these pamphlet toeing

 

the lines of IMF infrastructure and privatization schemes leading to single currency which by itself is non

 

sequester and entirely flawed if not hurtful to world markets – going by any measure of economic

 

theories – are so devised to enable both continents continue good businesses which is not the required

 

business format for financial satellite systems for Africa and its third world economies, that opposing

 

such pamphlet may be suggesting an opposition to some hints of financial colonialism which can be

 

argued as the indirect motivation.

 

 

 

But this is not the case, the idea of region balance sheet for Africa and

 

for several parts of world is no only faulty in its inception, it perpetuates the wrong notions of economic

 

triumph which is legal tender can inaugurate and to a large extent, the pamphlets and their leading

 

think-through are not sufficient in enabling the requisite changes necessary in Africa in general, or to be

 

specific, in regions of Africa that require their own satellite. It looks from all standpoint that new

 

emphasis on African markets and their exchange and buying power should be tolerated in many

 

sensitive areas of economic business such as those of ECOWAS and some other good countries in

 

Southern Africa led by South Africa. Perhaps the idea as a rotunda or watering hole should place Egypt

 

as part of the landscape in the North, for if we compare the roles of Morocco and Egypt, we are at once

 

at the torching stones Asia and decided interest from North Africa. It is all in gum thinking that it seems,

 

that Nigerians in West Africa are neither concerned about the structure of businesses in Africa or

 

structure of business in the world, that they are primarily concerned with survival making Nigeria by

 

default a highly consumptive economy where other Africans with enough penetration capacity find their

 

products and produce shipped even from South Africa or flown daily through air, ravished and

 

consumed in matter of days and weeks. In the past, there are 34 airports in Nigeria, but in recent years

 

many of them were forced to fold largely for problems of maintenance and engineering which the

 

balkanization of their local currency more than made difficult.

 

 

 

No doubt that the Ghana barely surviving in West Africa do not account for the lack of materials in

 

Ghana, their industrial revolution – making necessary products easily available or manufacturing

 

meeting and beating estimate over a long period of time – has not taken full mobility.

 

Worse than Ghana is Nigeria that can only generally boast of major structural changes besides

 

the buildings which themselves were forced to erect due to very high demands of housing.

 

It is longing to consider that a place such as Lagos as some observers have said

 

were built by Nigerians – at least in the last half a century, lodging some of the numbers available or

 

comparable to other active cities in world. But like some of the countries that are grouped as MINT,

 

these countries do have a major city that experiences and benefits from the most recent Government

 

endeavors such a Mexico City that have a expansion leading to 17 million people, that is a fifth of all

 

Mexicans live in Mexico City, which also means a reverting to partial equilibrium of a certain measure,

 

which in the end could suggest that the problems of these MINT such as Mexico and Nigeria is the

 

problem of equilibrium.

 

 

 

Uneven development with emphasis on one or two areas of business or nexus

 

point in these economies, such as Lagos Nigeria with about 17 million and with buildings reaching into

 

the Island, may mislead an observer on the economic prowess of the nations. Perhaps he or she would

 

travel to Abuja and see another vast expansion of population comparable to Austin in growth in the last

 

20 years, Abuja moved from 100 thousand people to 1.1 million and more in less 20 years, all in spite of

 

heavy cost used to welter the attention on the capital. Such evidence opulence in Port Harcourt, Rivers

 

State and in parts of Ibadan in Oyo, give in out on what population can do an economy. People driven by

 

necessity would do what’s necessary to meet demands. But here, as we have argued, mineral and hard

 

resources for Nigerian market are no foreign, and can be located in strange abundance in Nigeria which

 

now mentions that the reasons why there was problem is the poor showing of Nigerian market in the

 

world. Even with new industries in Cement for instance opening up in many parts of the country it is not

 

enough at all to effectively meet demands even at a very high price. What a potential for consumption

 

that Nigeria has for world markets, which for its reason and the reasons for new African frontiers since

 

the Colonial eras if not through the slave trade era, that a country may look the promise of offering a

 

market to goods reaching Africa or good manufactured from anywhere in Africa including South Africa.

 

It may seem that the lack of standard shipyards is problems encountered in many part of the world,

 

that Nigeria could better resolve with some attitude of how begin their help-yourself projects, projects

 

that will co-inside with opportunities to dump on Nigerian markets as long their turn key investment

 

with direct yield from debt investment categories. It leads here that the rate at which this could be

 

realized will have do away with military past, for sure, many African countries, especially West African

 

would find it comforting to re-issue their own overnight lending with Crude oil as basis for conversion to

 

Nigerian currency, that as much as currency can flow from US, China, and Europe, where Africans,

 

 

 

Nigerians (Nigerian Americans) in particular work for in odd jobs far below their rated certiorari can look

 

at Crude oil as a banter in world markets, in channeling the amount of currency that could migrate to

 

Africa.

 

U.S penetration of Nigeria is counted through currency sent through Banks and Western Union,

 

the currency is by itself a commodity – no different from any other product – that if migrates from one

 

areas of the border another, it dictates the market where it essentially sees the light of translation and

 

exchange. In such cases, the idea of price as a function of the market or price of a function of a currency

 

rate is give new meaning, that the currency wars between any foreign denomination against a local one

 

when a banter such as Crude oil for Nigerian case or a banter such as common market item is no longer

 

at ease. The currency when not accounted for mitigates the local currencies leading for instance more

 

Mexicans Pesos to redeem itself from other in-flock material currency or money laundered from Asia,

 

US and Europe. Here for explicating deist, the idea of money laundering includes money simply not

 

accounted for, whereas trade-deficit is a shift from equilibrium and the degree of that shift from the

 

acceptable concept of x, y, z, which matters in names of black market and in names of shadow banking,

 

that must be held to remain in the balance with the local exchange route unless there is a mitigation……

 

The war came to an end in 1970, and from 1970 began the decade of reconstruction which inadvertently

 

formulated the mindset of Nigerian society. It is in these recovery years that the significant rift between

 

the Nigerians began to appear, the rift was between those who became the courier of Nigerian Banks

 

during and after the war, and those who earned their pittance through ‘small cracks’ of lending and

 

family borrowing, through the ‘inlet’ of trade and trans-border trade, through caveat emptor; the

 

smaller units of businesses scraping around the larger, the law forbidding the expansion and the ratio in

 

all things for space and rights which impeded mid cap companies. Such adverse business environment,

 

largely out of mistrust eventually created a sense of business management, more like a form of attitude

 

to business and to living which the banks completely endowed from the 70’s onwards. By the early

 

eighties, few years after the fall of Shah of Iran, the Shell Company was readying to break in big in

 

Nigeria and there was new and newer necessity of other banks.

 

 

 

The much of Nigerian banking can be described in three categories, one the Government managed, the

 

Commercial banks which had their horns from the civil war era, and the Investment Banks which began

 

to respond to the need of change in the larger world. The curtain dividing the east from the rest may

 

fallen by this time, but the rift was established, so much so that Banks were a quasi-property of certain

 

people, who may now be called Old economy, the Commercial Markets, the First Banks and the Union

 

Banks. In future as better stability of the country is forged, there will likely emerge other banks in the

 

country that will conduct social Industrial programs and development in many of its forms. But the rise

 

of military in Nigeria, in an age of oil boom gave birth to Investment Banks, initially and ultimately

 

owned by Northerners but this time, private families with long roots to the bigger banks gradually

 

emerged.

 

The expanded nature of the world business in the 80’s at a time when Nigerian oil began to make

 

headway in the world, enabled Nigerians of the Investment grade to earn their ranks through the stock

 

market and through international trans-border trade and in end, even attempted with help from

 

Lebanese business group to provide interest rate for many francophone countries. Such attempt made

 

these Nigerians soft targets for the neighbors and in places Cameroun they faced open hostility. It also

 

led to the first and formal fracas between Igbos, Ijaws, certain Urhobos, and Syrians and Lebanese.

 

These Nigerians also warned against the impact of Euro, citing that francophone countries had very little

 

to earn from the sub-categorization of their West African Markets if the franc is pulled. But they felt it

 

necessary to outdo these new Nigerians and many of these Nigerians exited from these areas, poured

 

into Lagos and some parts of the east as at early 90’s.

 

These Lebanese and others also played a pivotal hand in Investment Banks in Nigeria though private

 

placement in the Nigerian stock market, but their real strength was the commercial where they

 

supervised the inflationary curve price of building and real estate. There were others, especially from

 

the far side of country and from the North. But the success of the older Nigerian banks was a product of

 

military era, an era that fed on to many Investment banks, many of them entirely reliant on Nigerian

 

federal grants and contract with few scattered businesses. When the military disappeared, these banks

 

in their many numbers also disappeared. There was also the issue of insolvency, mainly comatose by

 

non performing debt which accumulated in dues by inflationary pressure.

 

The main thing is that nothing was working aside the business of small administrations, and only a

 

certain investment type could have supported these Investment banks. They rose so quickly and fail just

 

as fast, with people losing much of their money. The commercial banks such as First Banks and other

 

older Banks held out the hopes of other businesses and served as protections for buffer tycoons roving

 

in and out of federal account. In those years of the 90’s Nigerian banking society began to evolve into a

 

different dragon. As much Banks rose and failed, there was a newer group of Nigerians, but this time

 

with an the edge of securities placement, with insurance which ones the home make of bigger banks,

 

with newer avenues for merchant banking, with credit amortization and association, with the degrees of

 

leases not unlike the commercial banks and where offering credit advisory and futures trading in all

 

respect of investment management.

 

These new banks acquired the rent prolepsis of micro financing and experimented with credit

 

technology available in the US. It was these groups that began to chart the contours of Nigerian

 

business, and began to underwrite for small business almost as the big guys. But their small unit in

 

several outfits helped these Investment banks to aggregate overtime gainer from Market Nigeria,

 

though largely commercial but experimenting with quickly experimenting with size and the forms of

 

businesses involving everyday bank in Nigeria. The case of banks rising and falling and the case of people

 

doing business through foreign exchange and parallel market made it easier for alternative to exist. It

 

also made it easier for smaller banks to also fail. Commercial banks were digging too deep into the

 

country and they had little competition. Commercial banks became the mother laden of many areas of

 

Nigerian economy as smaller ones failed.

 

 

 

The advert of Obasanjo as President did not change the status quo, in fact he even deepened the vast

 

resources of these bigger banks in Nigeria, who by market estimate where several in number.

 

Obasanjo’s privatization scheme enabled some survival of these smaller banks, but the rise of National

 

debt to 30 billion and clear absence of sovereign wealth and zero foreign reserve led to the appointment

 

of Prof Charlse Soludo. When he arrived at the office as CBN Chair, it was clear to the business world

 

that business of Nigerian banking and the stock market would likely change. His idea of bringing several

 

small banks together was to ensure they were reasonably fitted to compete and that there were too big

 

to fail. What the effort however did was break the power of the old dominating banks and many of

 

collision began to offer just as much credibility as the older ones.

 

 

 

This began a certain kind of race, not unlike Lehman and company in US and in Europe, but a race that

 

almost naturally spike up price, where bankers went out of their way to look for customers even it mean

 

treading on deposits that they were too thin. The bust was a natural consequence of that era, but more

 

than anything, it brought down the inner walls of First Bank and their older groups in Nigerian Banking

 

industry. Those who led the new and Nigerian revolution in Banking were small business administrators

 

who in the era past struggled against the tide. There was also Nigerian made Tycoons who were willing

 

and able to stake their profit on Nigerian banks, the era of new banking cleared the sea of bad obstacles

 

and at once proved an upfront to older.

 

 

 

The balkanization of Nigerian Naira through a unit per unit comparison with dollars through to 140 per

 

dollar term, may have misguided calculation of actual perform grade on many Nigerian banks. The more

 

culpable of these Banks are the likes of First Bank who could have shown no sign of internal event

 

breaking. Another factor is that of Petroleum. Twenty five years ago, crude oil was within the 7 dollars

 

for a barrel and with the range of years winnowing in 2008, there was a sharp shoot of the gas and

 

petroleum to about 150 dollars per barrel.

 

 

 

This unbound continue of price importation to Nigerian financial facility should have done enough to

 

congeal any hint of bloodletting or mispricing of Nigerian Naira. In a sense, the rate of the rise of oil has

 

been continuous time on wend, a Plateau of graph on the absorption of rate into Nigerian economy in

 

the place of actual and real time profit. The good and bad thing about this flat or even keel is that the

 

Naira in lieu of the rising oil should have remained at parry with local economy, essentially subdued with

 

very little kinetic movement which would have in turn enabled a better estimate of Bank’s aggregate

 

performance from local perspective.

 

 

 

As such there is a reason why Banks were harvesting big time wealth from Nigeria and why for three

 

decades the only financial engine that functioned was the banking industry. The reason is quite simply

 

the number accruement and the currency ratio to dollar, had nothing to do with value of Nigerian

 

economy. It sounds oxymoron but the fall of the Naira was not a Nigerian make, even though it

 

represented Nigerian Naira. Nigerians were only tilted to earn beyond their means and the numbers

 

made these Bank such as First Bank look good especially in those high earn years of 2006 – 2008.

 

The obvious nose dive of First Bank and other Older Commercial banks in Nigeria is attributed to lazes

 

faire attitude towards raunchy business deals and ‘badonomics’ of the very aggressive 80’s and 90’s and

 

a forward for 2000s where the false impressions of growth was only the Asides from prized crude oil

 

which in real time Nigeria did not benefit. The force of money velocity evident in the gap of 1999 – 2008,

 

largely speaking, from the eve of a newly created force of money called Euro which rocked the US stock

 

market to the financial debacle of 2008, revolve around money as the pendulum of decay, which note

 

the corrosion or erosion of value when new function or shift in price function general appeals.

 

 

 

I call this force of new and aggressive price movement on or upon older price, ‘price corruption’. That is

 

the absence of a levitation force in well leveraged or even deleveraged money market - however risk

 

averse - will certainly lead to corruption of value, which naturally collapses any old system since the

 

older value no longer apply. The rate at which this price corruption occurs may be linked with the so

 

called failure rate, mainly probable from an endpoint or probable end point of indexing. Failure rate is

 

hypothetically closer to a funny kind of drawdown. From the nature of the drawdown in Nigerian

 

economy and its bond market in the years 2005 - 2009, attention of many risk managers would have

 

been spooked. And by the tall edge of 2005, there was no clarion call from Sanusi on such problem and

 

why it signified big trouble for Nigerian banks and stock market.

 

 

 

So margin risk become a complicating thing for big banks since we can say that a risk portfolio bathtub

 

of graph is great for many other reasons including the reverse of the life-span in understanding the

 

reliability of banking system or the markets. A reverse of the bathtub from DFR through CFR through IFR

 

would have made a short put re-combination possible, thereby useful in mastering the variance of risk in

 

well-oiled 1999 – 2008 Nigerian market. If foreign agitation of Nigerian economy and investment

 

remained a put for many years, irrespective of what was happening in terms of real estate in US and in

 

the world, the general inference is that Nigeria was too risky since Foreigners probable earned more

 

money from in Nigeria and from Nigerian than Nigerians did, than they probably did in any economy in

 

the world, hence a put. But with a put, we can pretend that Risk was under control, but the inverse is

 

the expert's view that something was wrong and Sanusi at First Bank would made 'Real' out of the

 

condition.

 

 

 

I mean understanding that there were no degrees of inevitability in any event.

 

Nigerian Inflation rate as at 2014 is 8.9% which is still high compared to Ethiopia of 10.8% and with

 

Ghana 10.2% rate. A rate of inflation usually clarifies the rate of return on investment in any economy.

 

When there is an annual percent growth of more than 10% with as much rate of inflation, it usually

 

means that there is little economic growth. It was not always the case in Ghana, as at July 2007,

 

following the advice of Soludo and others, Ghana decided to revise its currency from 10, 000 Cedi to 1

 

Cedi, which heightened the transition from a period of economic low ball to better management and

 

renewed attempts at balancing the budget. Whether or not Ghana is better off is a question of the

 

future, secondly is the extent of moral hazards associated with delimiting the performance of a currency

 

to the nearest bottom line.

 

 

 

At what point does it seem that a region in the world would be permitted to adopt new currency as a

 

way to jettison an old economy? At what point, could it also mean that a society of good doers like was

 

witnessed in Germany’s Socialist Nazi party and the devaluation of its Deusch Mark which was revised

 

several times and each devalued the paper since they were no foreign buyers. China also devalued its

 

currency a number of times during the political instability of the 20th century, to a point that it served

 

no real purpose but paper. It is within common sense that India in the 1990’s put an end to its currency,

 

which coincided with the experiments with NAFTA and the end of Mexico’s old Peso in 1993.

 

But this theory mainly works in a nearly successful economy like U.S of the 20's and 30's, and Europe

 

sometime later. In a country like Nigeria, a theory of munificence through spending has little or no merit

 

unless we admit to ourselves that the country has been a Depression or simply a form of crisis. In fact it

 

could be disastrous to prove will have the country towards a fulfilled future if does not. It is therefore

 

economic bias to suppose that as such Government spending was a way to push towards full

 

employment, which in turn improves the resources of the buying crowd.

 

 

 

This theory does not help our understanding on how to grow in any economy; the most important

 

aspect of any economy is growth. In essence we are left with what really happens when any nation on

 

earth is meeting expectations but experiencing a growth problem like Europe? Or, when a country is not

 

meeting expectation but also growing like in Nigeria. That latter is a sample of a sluggish economy and

 

sluggish economy often lead to a breaking of economic structural and then a country leans to old and

 

proven theories as a way to recover. There is the spending or the expansion of the Nigerian

 

Government, and it is common sense that inflation and foreign direct investment gives the impression

 

that you are growing, and a cut back on spending which usually follow, could be a symptom signaling a

 

further dive into depression

 

Ghana

 

 

 

Whereas the same advice for currency re-denomination that Soludo petitioned for was resisted in

 

Nigeria and some of the basic reasons for the resistance is that many persons of interest stood to lose a

 

lot of very personal business and there was also the problem of exchange rate. Perhaps the resistance

 

was due to the fact that the country was not ready for it then, which does not in any way mean that

 

Nigeria is now ready for it. For the fact that country is not ready was any changes with its currency does

 

not mean that it is not the right course of action. Whatever may be the case, we can argue that Nigerian

 

Naira has not exactly attracted the attention of the world since the inception of the currency in 1970

 

and the end of renegade civilian conflict. In foreground from the age when there was a currency West

 

African penny that used in West Africa with English permission, it has followed is relatively new and that

 

Nigerians, may not be doing something that wrong or unheard since the end result of any currency is in

 

its application.

 

India.

 

The re-denominating the Naira (even if it means removing a couple of Zeros of the Naira as Soludo

 

suggested) is appropriate since the Nigerian Economic Structure, efficient money system is not well

 

developed for that, Nigeria re-denominating its currency will propel itself into the future with the new

 

resolve of creating a new from the old. It is not advisable to engage this exercise when your economy is

 

doing badly, it is better when you are faring better than expected. This is the whole meaning of St.

 

Petersburg’s Paradox and ordinals of Daniel Bernoulli.

 

 

 

The exchange rate of this country can better enhance its business portfolio in the World Markets, if as

 

suggested by others, that the last two '00' of its current note be denominated away from its current

 

hiatus could accommodate new noise from US Crude Oil markets or trade partners to Nigerian Interest

 

rate. Since the expensive the Naira is a currency that suffers in neglect due to competing attention and

 

currencies in the world, it does help itself by sticking the policy of a floating currency. There are several

 

countries that seek to regulate their currency and many of these countries are considered Developing

 

Countries including a few of the BRIC nation.

 

 

 

The exchange rate of this country can better enhance its business portfolio in the World Markets, if as

 

suggested by others, that the last two '00' of its current note be denominated away from its current

 

hiatus could accommodate new noise from US Crude Oil markets or trade partners to Nigerian Interest

 

rate. Since the expensive the Naira is a currency that suffers in neglect due to competing attention and

 

currencies in the world, it does help itself by sticking the policy of a floating currency. There are several

 

countries that seek to regulate their currency and many of these countries are considered Developing

 

Countries including a few of the BRIC nation…..

 

 

 

 

 

Yet Nigeria, as a dominant economic market in West Africa, has not benefited from a floating currency

 

which is in keeping with the demands of World Markets. It has not benefit from the Single currency

 

banter what was the idea behind ECOWAS, It has not reached the level before compassed, when any

 

nation on earth is producing for public use other than its market, it is in fact not a market in the global

 

macro and it is ultimately an economically dependent country. If, or when, the country decides to act, it

 

must remember that the Great Migration of Nigerians into China and into the United States is a not a

 

change in political landscape, it has economic consequences are well. The advantage that this Great

 

Migration has earned cannot be easily overcome saving for more parallel markets where Nigerians and

 

other West Africans will question such migration when Nigeria with 00 less integer offers higher

 

protection and growth.

 

II THE PROBLEMS ECOWAS

 

May 28th, 1975 is a date that many old West African citizens living now remember as a date when the

 

theory of economic "self-sufficiency" of the Economic Community of West African States was initiated.

 

The first phase of that initiative was designed to cover the ECOWAS experiment was slated to include

 

the questions of trans-border trade and then the process of economic unity between the member

 

states. Ultimately these economic co-operations - not unlike the European Model - were meant to land

 

West African nations a home run on one single currency. Some of the assumptions from the ECOWAS

 

resolutions was eventually challenged by Nigerians and Ghanaians, with individuals of import such as

 

Ralph Onwuka (no relation) throwing in their dissent, including latterly, Amadu Sesay, and Aluko Olajide

 

who joined the fore mentioned in 86 'The Future of Africa and New International Economic Order';86.

 

Some of the assumptions from Onwuka and Aluko are not new and there is however a privileged insight

 

into a future of world market and the role of ECOWAS - if it survives.

 

 

 

 

 

Needless to say that their book raised several questions about the illusions of West Economic Society

 

and NIE 'New International Economic Order' as derived from Europe, questions it did not answer,

 

perhaps better explicated as questions which did not exactly converted for answers.

 

But from the defense pact and from policies prodded by individual Government in West Africa, it seems

 

common sense that the business structure on between these West African countries was likely to

 

change or expected to change, so also the structure and business of its local Community. What have

 

witnessed in the last decade or so is that the paper currency and the call for a new Nigeria and West

 

Africa are actually hijacked by private interest from all and asunder. The full implementation of

 

ECOWAS took place in 1979, set against the cultural unity of Expo '77, West Africa, braced the region for

 

a future which included single currency money, but did not incorporate the price of that economic

 

banter, for instance, debt across the border, problems of credit and the issue of acceptance in the

 

Global economy.

 

 

 

In Nigeria and in West Africa these days, we hear of the 'Millennium Development Goals', 'Privatization

 

Schemes', 'Balance of Payment', 'Austerity Measures' (removal of oil subsidy), 'Foreign Direct

 

Investment', IDAs, FDI; Foreign Direct Investment', 'Debt Crisis', but all of these are IMF measures which

 

Nigeria that is U.S centered has no real party.

 

 

 

But these Schemes exist and part of Nigerian politics and part of the Nigerian running of their plans for

 

BETTER LIFE. This better life the case of Argentina and Mexico, like Brazil of the 70's and Korea of 70’s

 

will not be achieved under these programs that are run by IMF. Part of these measures is that it leads to

 

sometime when benefitting, and we are tempted to ask how can a transition from one program to

 

another take place, for it seems that the process of Free Trade agreement exercising itself in Europe and

 

now the North America, usually leads to the lands of regional exchange and single currency.

 

In proper light, the measure at work is similar to EU, compared from every angle; it is similar to the

 

future ideas of regional government and higher penetration of existing Companies.

 

Speaking of the politics, Nigerian President Goodluck Jonathan, who is battling the insurgence, the Boko

 

Haram may have 'started' by the support of AUST; African University of Science and Technology and the

 

promise to help Nigerian the Film Industry with a 3 Billion Naira, is supposed to be welcome news. He

 

has also began work on Electric Power Authority; NEPA and has signed new contracts concerning the

 

Rail Roads, all to be settled in dollars. Under his leadership Nigeria received all sorts of incentives and in

 

the riverside areas of South-South, there is an international help, some from World Bank in tackling the

 

problems associated with growth over these areas.

 

 

 

III IMF

 

 

 

Nigerians has been forced to blend in to the fact that there is a New World Money Order called Euro.

 

There is nothing wrong in accepting the doctrines of European Union and it does not seem that the

 

policies pursued by Europe are as bad and misleading policy. Yes, some versions of the policies are

 

desperate conceived for Third World economies or whatever name that is applicable and in terms of the

 

quality of European Economy and its no-grow economy, these IMF programs and loans are very not

 

called for and are basically predisposed to debtors damages. Nigerian Oil Subsidy, ECOWAS; Economic

 

community of West African States, Government policies driving currencies, SAP; Structural adjustment

 

programs, WAI; War against indiscipline, Better life Program, 1986 Austerity Measures, Privatization

 

Scheme, Removal of Crude oil Subsidy have all come and gone but IMF has still tied the country's future

 

to these schemes and to Debt that don't count as a credit and has forced Nigeria and some West African

 

countries downward with its policies, policies that even a progressive third world economy like Nigeria,

 

can no longer absorb.

 

Dude, where’s my Country? Right now

 

 

 

 

 

IV

 

If Nigeria makes half a trillion dollars mainly from selling Crude Oil that runs from your backyard to your

 

Heritage or Inheritance Country United States and none of these material gains reach Nigerians in USA,

 

Europe or Asia, and for a start Nigerians in US and Canada where much of money is realized, then

 

something is really wrong with the picture. Sometimes some of us try to understand if we Nigerians or

 

Americans or Nigerians plus Americans or opportunistic ‘beast of no nation’ who are not really wanted

 

by both parties will ever make it, and wonder how to proceed as a people far from our Africa which we

 

cannot truly say we are far from home. There are business opportunities which the society of the new

 

beginning offers but not accessible due in large to the influx of immigrants from other parts of the

 

world.

 

 

 

As the story goes about migrants from several other parts of world, Jewish emigrants from different

 

parts of Europe had to deal with harsh realities of the new country, that it was persistence in business

 

ad linking the US to Russia, Europe and the Pacific that made the difference in the financial navigation.

 

Nigerians did not arrive to these states by boats or from persecution or expulsion as these Jews were.

 

They arrived by air and through the plane, with money in their portfolio, with degrees to buttress and

 

had to stay with their families until further economic enhances. In New York, there are business

 

opportunities Nigerians in United States can get into, besides trying at the top of your shouting lungs to

 

sell a small prized real estate with the banks signing off on it through a supervisor’s approval, we may

 

consider other things, that majority of the companies in US have roots elsewhere, and only some level

 

of long term investment comfort can guarantee partnership and employment in its key resource areas.

 

It is the question of inheritance and what happens. The question is what now happens to our share of

 

 

 

Nigerian resources from our backyards in Nigeria and sold to our Country called United States.

 

The answer is that we are cheated from our resources in Nigeria, cheated by….denied our birth right in

 

U.S by default. Some of us may ask what it should matter that you are failed by Nigerians in your share

 

on your heritage. My answer will hardly surprise anyone, it matters that people may not see how well

 

cheated these Nigerians and Nigerian Americans or Africans of any junior or ranked investment

 

category, who are living and spending so many years in US and Europe and having nothing to show for it

 

than the money loaned from Nigeria or Africa except for special cases of those live who also live here

 

and have to struggle for lack of financial competitive foundation saving exchange a rate’s advantage.

 

But this should not be the case given the Shawley-Oxley laws in 2002.

 

 

 

Above, there is such a thing as Reinvestment Act in these United States which can be used from the

 

stables of a Reserve System which Is private resources matched by US Federal Govt. to the threshold of

 

at least 25% non-refundable withholding of transaction receipts between Nigeria tor Corporation of

 

interest coming from Nigeria and dealing on Crude oil or similar cash product with United States or

 

private and institutional corporation of interest from US, on a market and real term quotes, year to year,

 

to be rested on their Bank of receipt and choosing. This receipt does not mean that Nigerians or Africans

 

who are pretty much struggling from day one in the States or Canada and who even constitute worker

 

parasites deferred employment certiorari and qualification (odd jobs), should be given free hands on

 

managing these resources or engage in charity without losing their formal reasons in being in the States,

 

or have these investments so removed from US or similar country of interest and domain, without

 

explication to Nigeria or anywhere else without due recourse to profit meeting for market standards.

 

 

 

In essence, US can't be forced to train and feed these Nigerians who irrespective of their standing

 

agreement before coming to these states, bound by tax paying, or inheritance clause affecting new

 

migrants, are dead set to participate in their new country and new economy. That Nigeria or any African

 

country can in respective levels of transactions with United States or any country of interest, be

 

expected to support the future growth of these Americas and the countries, then the go-between

 

persons of interest who reside there, here, born here or anywhere, have short and long term business

 

interest in these United States, should participate in the estimate of these countries.

 

The Sovereign Wealth of these Nigerians in the United States is separate accounting and should not be

 

compromised or misunderstood. Nigerians overseas suffer the most due to lack of organizational

 

structure, rely on public employment or private interest in medicine, for instance, sojourners from Africa

 

and Nigeria, easily turn their attention to CPA and Medical Careers, public and home health jobs, all of

 

which are fine American job opportunities to take advantage of but rely mainly on Government benefits

 

and insurance. These Nigerians like Caribbean American before them, are happy to be paid peanut

 

wages which by American Standards is poverty level which ensures without public acknowledgment is a

 

cyclical trap that makes it difficult for Nigerians or Africans to barely make it into working class

 

Americans.

 

 

 

The game play is to expand the future of the United States through consolidation. Whereas these men

 

and women from Nigeria or Africa, with serious education background do not mean to take on these

 

jobs or need not, above all do not furnish any intention of lasting too long on them. In the past, the

 

career move was to progress from CPA or GNA to Nurse and from Nurse to registered and Licensed

 

Practical Nurse, or so others will choose, take interest in Medicine and medical studies. It is not their

 

making especially when the chief resources are coming from their own State and old Country.

 

II Lapses in Nigerian Investment Strategy.

 

But there are investment vehicles that the both ministers; Ngozi Okonjo-Iwela (Finance Minister) and

 

Olusegun Aganga (Investment and Trade) can implore in helping the growth of local businesses in

 

Nigeria, particularly the area of Investment and Trade. One of which is the area that is associated with

 

growing Nigerian businesses from local investment category of Pre-IPO, to standard IPO markets for or

 

from the Nonpoor. Investment in Nigeria is not always projected towards foreign investing crowd many

 

of whom operate under-investigated entities. When they are consulted - assuming they are, they sail

 

from some underground and unheard off board-room to Nigeria, and arrive Nigerian with no intentions

 

of buying regular shares or toe private placement, rather are interest with their papers to buy out

 

preferred stocks in the most lucrative Nigerian businesses.

 

 

 

I mean the whole process is so easy that nearly anyone can have a field day in Nigeria as a foreign

 

investor. What the Nigerian Government has done in the past 10 years requires no large frame looking

 

glass to prove their point about the country, and adding the recent war against illegal bunking of Crude

 

Oil and drugs, there are reduced questions about the future of Nigerian Crude oil.

 

Beginning with (a) Finance and organization with due respect to banks and the debt or equity based

 

interest of the federal government (b) Internet Network Structure which some feel has received

 

attention in the last 10 years, yet has nothing to offer in terms of new programs and software such as

 

Security Software or any programs that allow the rest of us to more about our business (c) Hospital and

 

Medical management, and en-pound for metal equipment and hospitals for physically disabled or

 

mentally re-covering, asylum for people consider longer term recovery programs (d) then there is the

 

quality of monitoring investment, for local and foreign investment grade, particularly foreign investment

 

group since the country is already overweight on 70% foreign direct Investment (e) and improving the

 

'Seaports that will require more than a fair share of foreign investors or individual attempts at

 

revamping the Nigeria 34 airports, some of it is out of use.

 

Strangely enough, Nigerian Airways is turf on the new and newly renovated Airports and are managing

 

the long queues with only 8 operational Air Ports and 2 Heliports, and for the records only 3 of these Air

 

ports are International and they guzzle their passengers with price. But under this pattern, the long horn

 

emphasis on others to develop Nigeria or add to its green will not paper out the demands on the

 

grounds. In essence, it mean seem realistic that the country can only care for its citizenry by the

 

provisional resource allocation of the new operational groups interest banks are kin on achieving, but a

 

new currency challenged from 100 paces to 1, there is room to allocate foreign interest nations willing

 

and able to penetrate the market, and further extend the frontiers of market strategy already

 

approaching its apex in US and EU and the consumer economies.

 

 

 

These sectors that need more social programs, or would require government expansion and active

 

supervision to re-open will have to wait unless a new round development begins. It however makes for a

 

second kind of argument that if we are talking of employment opportunities, we cannot use Lagos or

 

Abuja to draw conclusion on the rest of the country- It is poor estimate and is occasion for poor and

 

uneven market and we must, in particular Mental Health of the patients and doctors or nurses

 

supervision to expansion of Benefits.

 

 

 

A grid system in terms of the Nigerian Social Service and State I.D or number is another means of

 

ensuring that newly graduated Nigeria or fairly new Nigerians are successfully - if not dutifully

 

employed, and these measures if have applied or pursued by the seating government will help to track

 

down violent activities in any one simple part of the country and will also speed up the hunt for loose

 

cannon groups anywhere in the country and in West Africa. The Grid System is security deposit on the

 

future of any economy's widening demographic and will create means that will promote jobs now and

 

for the future. Such grid system or social identity is not an academic exercise, is far from just a symptom

 

of what Nigerians have learned over the years in places such as Canada or what some of us can still state

 

accurately about the highly coveted and challenged U.S health care industry, rather it is a process of

 

creating work and employment.

 

 

 

A journalist Mbonobong Nsehe > Why African may not really (stay ahead of the Council) Some of the

 

investment which for instance flourishes in Kenya is given by low conversion rate, but generally Tourism

 

is not news - Some of the growth associated with South Africa. The Whole/open yards of human

 

organizational integration (2) Policy analyst and public health structure (3) design, function,

 

management regulations 'Natural and political Observations' Defy and but for medical insurance

 

(medical insurance) to work, Jobs has to work SS2; Social Security 'make easy the age of social security'

 

at least place the 'Grid System' and sometime in the Past, Forbes - listed five Great Investment that

 

anyone can make in Africa but none the mentioned investment has long life if there is no political

 

stability in Nigeria or the Regional West Africa.

 

 

 

The damage to the housing industry is undiagnosed and housing projects promote the credo

 

Redenomination all these may not happen given the dollar to Naira ratio, and with all due respect to the

 

large house foreign investment – which in real time is not real money – the weight of any nation,

 

particularly developing nation-, is carried by local businesses and local investment and this group which

 

are often neglected amount for the larger percentage of any economic transition of any country. Simply

 

put, develop or encourage the local sector and you will find real time investors more comfortable with

 

long term investment.

 

 

 

Once, it is the due diligence towards enabling Small Business Administration and financial bus stops,

 

small business investing companies and Crowd, or Angel Investing are financial instruments and items

 

that are not purchased from high grounds, it only and gradually transition from one form to another and

 

maturates overtime. No IPOs will suffice the steps if it intends on climbing. The financial instrument

 

from banks and from private investment or financial institutions should be present and running in

 

Nigeria, especially now the traditional lending between business to business and between businesses to

 

private is no longer at ease in Nigeria or in many parts of the leading economies.

 

 

 

The lending business should not be facing competition especially at the very early stages of such

 

country, the current 'Capital Gap' to 'Corresponding Investment Opportunity' out in spite of the

 

enormous restriction on Credits in Nigeria, and in the end, startup services between the states are

 

articles or interest in the country, and where the financial department should be making the greatest

 

efforts. Investment in Nigerian markets also requires education and financial literacy and under the new

 

programs slated to meet these projects, there are much more the finance and investment ministers can

 

actually do. We may no longer achieve any form of output in Agriculture if tons of produce from local

 

farmers find their way on the next ship overseas.

 

 

 

Like the President once hinted, you cannot place any form of embargo what farmers intend to do with

 

their produce, that it was really up to them. The reason why the area of Agriculture and the production

 

of Soy Milk and other root crops make their way to India and to Asia may be reduced to profits from

 

exchange rate and if the trend continues, accounting for returns on Agriculture which the common

 

citizenry will prefer any day to other things will be quite difficult. The three tier level of the Federal,

 

State and Local, can enact Agriculture Investment and Re-Investment, can throw additional light on the

 

State to State exchange which must no left to the monopoly such Aliko Dangote. There is a mixed feeling

 

about the destruction of oil bunking vessels in the areas of Nigeria where some are asking that like

 

Nollywood; the Nigerian Film Industry, which started its commercial carpool at 44 St. St Michael Road

 

Aba, shouldn't Nigeria list these illegal vessels for its consumptive efforts.

 

Nigerian Nollywood derives its name from a town in Enugu which was originally under Anambra State,

 

but began the era of mass production of 1992 'Living in Bondage' at 44 St Micheal's road and from the

 

area the production widened into Umungazi and then 1-3 Pound Road Aba. Initially, these cassettes

 

were duplicated and parried at the price of pirate production cost and many of the returns did not make

 

is back to the Owners and Film Actors, many of started the business in NTA Lagos and then Aba before

 

leaving to Enugu, a place they felt comfortable with their production. These Owners reported this wild

 

spread bootlegging to police who advised against the entrepreneurship of their Towns Folk, rather

 

should harness them into a group and discuss film making standards and licensing.

 

The First of these meetings took place at Nnewi Hall at Azikiwe Road off Market road, Aba, where some

 

of the Produces including Nnebue who appealed to Aba and Awka business traders of the plight of Club

 

and the chance of making the film into an Industry, that above all the Actors were literally starving.

 

More than once, Danjuman has been one of the proponents of the destruction of these vessels; where

 

as his company involved in piping Nigerian oil is drilled deep in the offshore recess. Above all the

 

reviews on removing the Crude Oil subsidy has also ended. If Danjuman has a muscle left anywhere he

 

would have found a way to discourage Exxon-Mobile from backing the partitioning of the Oil Rich

 

Peninsula at the Bight of Biafra. Exxon, the French side of the business, has enormous interest in drilling

 

oil in Cameron as well being position to do business in what is Nigeria, but the problems of the drilling

 

rigs in South East and South-South Nigeria has led many of these Oil Champions into offshore Nigerian

 

Oil.

 

 

 

In essence, Nigerians are forced to leave their country because some Cameroonians claimed that the

 

Northern Nigerian Army ask Cameroun to block Nigerian Civilians from entering into Nigeria in doing so

 

can have a section of Nigerian East which as they claimed included parts of the Peninsula. It seems that

 

the Nigerian economy is now destined to survive mainly and ultimately through the Central Banks of the

 

new economic empowerment. If this is meant to happen, the fabric of the Nigerian Central Banks has to

 

change in order to better position itself in the world.

 

 

 

This will also include the attitudes of the only purpose of removing the subsidy is to transition some of

 

the money (resources) recovered from Oil Subsidy to other useful employment. This is a theme that is

 

not far from Socialism yet it papers out as a Capitalist economy. What are Nigerians expected to do?

 

It must however be mentioned that the recent moves by the Federal Republic of Nigeria and its Central

 

Banks to remove the subsidy will tactically end the Federal operational charter for oil, although NNPC is

 

still considered Nigerian Owned, it is really a product of the past.

 

There are lot of Government projects in Nigeria, but some of it come at very big price with heavy

 

Insurance demands by Nigerian Insurance companies based in Nigeria and from lender countries of

 

European and American based business and latterly Russia and China, asking Nigeria to place the Crude

 

oil as Collateral for the lending and lease as a death wish on a nation that parries itself slovenly from

 

Crude Oil profits. We and lead us to suggest that the Government is expanding, but the lean-in on Oil

 

subsidy is a rude 20% tax awakening for Nigerians. There will be a new round of gas and oil bidding

 

which Shell once more is expected to make a lot of case for and about investment, but these new

 

developments are nothing compared to the greater problems of populations an amusing, it is possible

 

that the population growth of a country such as Nigeria, the need for employment cast aspersion on

 

construction and real estate, carrier services, food processing,

 

 

 

But such reservation of trust of the other - by common degree ductile, not necessarily panacea - forces

 

many of us to accept that a shift of what was considered traditional (?) may have been a motivation and

 

more than that, his motivation is rooted elsewhere. But we can also say that such loftily is noted for

 

certain individuals that are shiv for privilege category and not of it, or whatever that is supposed to

 

mean. The other diagnostic is the probable fact that the economy could only attract expendable papers

 

from bigger international banks whose need for a country like Nigeria is conditional. The conditional

 

nature of their investment was the necessary signal which Sanusi as risk manager would have action

 

upon, by advising a cut down or mowed down the profit margin of such investment since they were

 

immaterial to local market and therefore inelastic. If they apply it through to Nigeria on the broadest

 

possible extent, then a nominal moratorium of deliberate precaution should hedge the Bank against

 

sudden death syndrome.

 

 

 

For opulence and eventuality, profit rotation and sources of profit for risk managers should permit a

 

squeeze around the investor and encourage a reliable grade to be consistently baited against

 

eventuality in the banking systems, for instance the eventuality of probably cash exit of foreign

 

capacitors. And the man who could have easily noted the problems and understood the failures of debt

 

was original to the poor overall economy was no other than Sanusi.

 

 

 

Perhaps we can argue that in about the same time as April 2008, much of the known financial world

 

was already in decline. But Sanusi it must be noted was the risk expert for many years before his

 

position as head of First Bank. As such destiny prepared him more to so for the role he was later to play

 

as CBN Chairman, for it may only seem the case that he was part of the history which either/or came

 

into Mean at the very determined time in 2008. March of 2008, Bear Sterns of US was facing collapse,

 

and Lehman brothers, Goldman Sachs and Company tethered on the verge of breakdown. It was a

 

matter of time that the impact of Bear Stern’s failure was to be heralded worldwide.

 

 

 

By April 2008, and in many ways, we are left to accept incognito that the sudden death of First Bank

 

maybe been due to the world financial disaster gradually brewing. But the sharp dive may have also

 

unleashed the moral sabotage of faith in Nigerian banking system and faith in its big bank like First Bank

 

in Nigeria began to falter when nothing was done to mount the resistance to foreign capacitors in the

 

country. At least the sharp decline First Bank and of its financials in April 2008 is not without the

 

influence of foreign financial. By that we mean and mean only, that the bank in terms of its risk could

 

not have headed in the right direction, that the nose of Sanusi one of the preeminent bosses of the risk

 

retinue at First Bank was observed elsewhere. In brief, the boss, Sanusi, from beginning had a wrong

 

grasp of the source of the financial kamikaze.

 

 

 

Since First Bank did not mount any effective resistance to the problem observed elsewhere, it should

 

only have hinted that the bank lacked the managerial dynamics to remain atop of the Nigerian

 

Commercial banks, a problem which Sanusi may have picked up and may have invented a solution that

 

may or may have mattered, an administrative plugging that he was convinced is continue, preeminently.

 

But the problem was not so much a question of administrative shortcoming but a matter of pleasanter

 

grasp of the unbecoming and overweighting influence of foreign investors. The money was coming

 

elsewhere, and the money was used to spook the Nigerian stock market, the money kept First Bank on a

 

live wire, the money was not Nigerian. The resources belong to some groups who pulled their resources

 

slovenly from under the carpet of First Bank. And then the decline, then the fall in stock value.

 

 

 

With the heavy weight presence of these foreign investors in a bank like First Bank, it will seem to

 

appear that the inflation in Nigerian real estate was totally dictated by ‘undue influence’ a term that

 

points to investors in Nigeria. By allowing too many foreign currencies to float freely in the country you

 

penetrate the ranks of big banks, you naturally expose the Bank to risk, and to fundamental risk failure

 

which is chiefly characterized by sudden death. Sudden death occurs naturally when the support system

 

is in disconnection and Sanusi and company witnessed the final days of the credit decay that was a

 

decade in the making.

 

He, Sanusi, may have taken effective steps to change the debility of First Bank when he was finally in

 

power. But it was already too late at time of his appearing. He had the chance to enforce his rapier view

 

on banking when he became chief, but the ductile tape of the bank from its olden years until the drop

 

was such that the corruption of value was already the official status. Sanusi may have actually taken his

 

view from the broad strokes of his committee, but he was walking through a wrong avenue with his eyes

 

off the managerial function. Sanusi may have diagnosed the problem of the country as the First Bank

 

Risk Manager and may have misdiagnosed it. But the option available to him as a CBN Chairman was

 

already decided from these days, to the point that he a force that neither sorted out the problem nor

 

helped to place a calm bam on the fellow bankers who were much perturbed by the epidemic as much

 

he was.

 

 

 

From the beginning, it was clear that Sanusi didn’t understand why some banks survived the implosion

 

and why they were survived well. Perhaps they were plugging the erosion in tilts and in tectonic rather

 

weight for the avalanche. Sanusi may yet seem to wonder at incredulity of survival of such new Bank in

 

the market Nigeria, and may have either by other matters of influence or otherwise resigned at the fact

 

that these group were not playing by the rules. But they carried less baggage like other commercial

 

banks and were slightly able to adjust to aggressive price change and inflation, but those stuck in

 

between carried much of the losses.

 

 

 

Why is International Islamic School in Khartoum the probably influence behind Sanusi’s motivation?

 

Well we can’t particular demarcate the man from who he was in years preceding his years at Khartoum

 

from the man when he began to ascend the ladder of banking. That he studied in Khartoum will also

 

mean that Sanusi as a man could not have been that ignorant of the greatness of the Islam in the Europe

 

throughout the middle ages. That he studied in Khartoum should mean that he was coming from a

 

certain persuasion especially been the grandson of an Emir of Sokoto. His attention must have come

 

from somewhere else. His attention on Khartoum was not misplaced since he was probably aware of the

 

connection between certain West African states and Fulani. His attention is not without interpretation

 

since the connection to Sudan and Khartoum especially leave the wake on the guiding influence of

 

Sanusi. That influence on Sanusi in terms of his actions so far as head of CBN is seriously manifest,

 

especially his leniency towards oil producing Islamic states such as Brunei and Saudi Arabia. Of course

 

theirs is a class system.

 

 

 

Khartoum, which has been taken over by 3% of the population of mainly Arab decent, is so pivotal to

 

African history that serious guide to the formation of the Islamic state is needed if we are to understand

 

its complex apostrophe in the Fulani of Nigerian history and Sanusi’s action. Khartoum is where the two

 

Nile Rivers meet, the White Nile originating in Uganda and the Blue Nile from Ethiopia converge in

 

Khartoum. From Khartoum, the Nile runs through Africa into the boundaries of Egypt through the other

 

part of the Red Sea. How do we begin with Khartoum and the influence of Islamic banking? We can

 

begin by citing the role of Gold in Marrakesh in the years leading to the collapse of the Moorish dynasty

 

of Meri, Nri, and then the attraction for the City of Gold, which is Timbuktu, began to invite Muslims of

 

all types to sub-Sahara. Ibn Kallon’s Chronicles demonstrate the impact of trading along the Syria

 

Mesopotamia and the quest of spice that drove bans of brotherhood to raid islands throughout

 

Mesopotamia.

 

From the rule of the Almohad Caliph of Marrakesh beginning from around 640 AD to sometime about

 

1250 AD, the domination of Islam and the Arab counterparts were so complete and so thorough. The

 

Chronicles of Mamluk Sultan and to the Berbers and Islamic States of the North, forced small groups of

 

Muslims to occasional set out on their own and wanted a piece of the salt and gold markets along the

 

river Niger. The search for gold and the control of gold made these bands of Islamic raids and schools

 

successful. The gold’s of Timbuktu and Khartoum attracted waves and waves of migration from the

 

North Africa and even Asia, to deeper parts of Sahara. Among the roving tribes were the Tamashek and

 

Arabic, the Bambara and Fulani, the Maghreb and Turag and of course the very Moors themselves. But it

 

was the Fulani who later pitched their tents in Sokoto and in several parts of Northern that span

 

throughout much of West Africa.

 

 

 

Timbuktu as a gold coast during the rule of Muslims over Europe in the so called Dark Ages 8th – 14th

 

century, attracted just about everyone, especially Arabs. It must be said that when we speak of Islam in

 

Europe, we mean only one thing, Muslims of Africa, with possible overlay of European remnant in parts

 

of Egypt and of Asians. It is the gradual decline of these Moors in Europe that led to their overflowing in

 

North Africa. The further decline led to other measures that involved business and commercial lending.

 

But no doubt that banking as we understand it today was always an African affair from oldest possible

 

transaction tablets found in Egypt to Gold as bait for and against economic misfortune of Syria, Babylon,

 

Jordan, and so on, to the compulsory 2% Shariah provision under the Islamic administrative Umbrella

 

from Damascus. This 2% interest rate paradigm was one of the last of Sanusi’s action, the incident of the

 

2% compel a longer list of his action and inaction after a year out of which he must be seen.

 

For one thing, Islam forbids lending of any kind with interest and in terms of Muslims of the same

 

religion, Islam, condemns lending with interest to fellow Muslims (Haram). In many ways this poses a

 

problem of equity in Mean sense of the word given the necessity to flip on real estate in secular

 

societies. Islam under the Sharia however allows a form of deferred loan which they say is ‘benevolent

 

loan’ (al-qard, al hasan). Angelo Vernados in his book ‘Islamic Banking and Finance in South East Asia’,

 

suggested that the deferred loan therefore “has more relevance in relationship to the social welfare

 

economy, or where there are social ramifications to a transaction as in the case of contracts involving

 

the government, rather than in the private or commercial sectors”

 

 

 

Given perhaps the social leniency of the good will lending permitted by Islam and Sharia, which is by the

 

way 2% of interest rate - fixed and unchanging - we may see the goods of Sanusi’s 2% recent discourses

 

and experimentation as a social program, as opposed to secular banking which must survive by

 

Investment and Commercial lending. In essence, you kill the market with a 2% flat, and when it remains

 

fixed you never make a Taylor’s rule of nearly 4%. Above all, the misery index in bait of inflationary

 

Chicago is neither ‘precipitation’ nor assumes the curve for ‘soft landing’ from facts of unemployment

 

rate.

 

 

 

That is we are talking about Government project with beneficiary goods, a sort of class action that will

 

perpetually benefit a collage of sorted class, who will likely invent a class society still alive in the North.

 

This is not unwelcome news to the East in fact respecting people by their wealth is part of the traditional

 

furniture of Eastern Nigeria. This is not unlike what we have in Arabic society, and the oil business is

 

mainly derived from the set pieces of 2% interest on the Benefit’. In terms of international business and

 

in terms of FASB - Financial Accounting Standards - and IAS International Accounting Standards, Nigerian

 

Banking would now be forced to come up with its own measure.

 

 

 

To obtain the exact width of this very ill advised banking philosophy, we must look at what was

 

happening in the years leading to Sanusi appointment. The former permanent Minster of secretary,

 

Rilwanu Lukman, who was once a secretary of OPEC, carried an official atmosphere of someone outside

 

the working dynamics of the Government. Islamic debt financing contract, its Joint venture and so called

 

profit sharing is useful for large conglomerates in control of many portions of Nigerian banks, many of

 

which go as far as the National budget.

 

Nigeria as a country suffers from all kinds of sickness, much of it is psychological. The psychological

 

problem of Nigeria and Nigerians is a hard case given the very history of the country in its formation

 

years. It is fair to say that you can be right in the country if only you are wrong by identity. It is necessary

 

that I build an argument on this matter since many will not see my indictments as objective. There will

 

always be the issue of tribes, the issue of culture, the issue of parties and the issue of religion of Nigeria.

 

But that is how we grow up, for we know that we are been women from day, children of our past, but

 

childish behaviors and childish things are expected to be done away with.

 

 

 

For that, enough attention must be placed on what is factual and actual in matters of federal character,

 

and on what is permissible within village square, and what is Law. That is not the whole reason behind

 

my narrative of the undue influence of the Federal chartered office in the vise of Sanusi. The whole

 

attitude of judgment without adequate facility of facts, and the commentary so far however subjective

 

and however valid, or the more grasping matters of personal persuasion, should be discouraged and

 

eschewed. As much as everyone is entitled to their opinion, it is only Nigerian to base the opinion on

 

very concrete facts.

 

 

 

A reportage on 3.625 Billion Central Banks indulgences….

 

We understand the Energy Sector problems and the long term stability pact as part of West African

 

Economic Community. What happened to my 20 page instructions on US-Nigeria Nuclear Energy

 

Consortium priced in 2011 at 20 billion dollars? The energy sector is a consistent problem matched with

 

steady population appreciation and with the unemployment well over 25% - if not in some estimate up

 

to 30% of 170 million Nigerian. Nuclear Energy even at 6 Billion extra after the third year of Completion

 

following International Nuclear Energy guidelines, could provide that country all the necessary energy it

 

needs to melt iron or defray color phased gas-metal separation desperately needed for large and

 

extensive manufacturing and for ordinary survival of Local Industries in the next two decades. This 3.623

 

billion dollars is not accommodated by the 25 billion already put in by Aganga, and does not take any

 

interest in the Nigerians in US....

 

The turn key investment which are hard to court from US markets need International Energy Capacity

 

(10 Yrs.) to consider Nigeria or any West African Economy with grain of salt. The other issue I mentioned

 

is the role Nuclear Energy will likely play in West Africa and contingency issue of unequal development.

 

Overtime, these mass consumptive behavior will become a factor, but against the margins of growth

 

from 2011 - at least - by now, each sector of the Country could adequate indulge local and regional

 

resources with placing all their cards in Lagos, Kaduna, or Abuja.

 

Rail Road industries treat people like Sandwich.

 

Regional Re

 

 

 

First Bank had begun to falter in terms of organizational dynamics in around 2006. And that led to the

 

exit of the top chiefs of the banks in matter of years. The man who was voted in January of 2009 from

 

the glossary of risk managers and analyst to head First Bank was Lamido Sanusi. Lamido Sanusi is

 

credited with toning down the rhetoric at First Bank and he is credited to have pushed the agenda of

 

reform. But it is also said that more than anyone, he had problems of corporation with members outside

 

his risk group. It is wrong to enable the rest of us to judge Mr. Sanusi from the standpoint of these

 

intervening years as risk manager of his former employer, before becoming the head of First bank from

 

around the early months of 2009.

 

 

 

It is wrong to cast enough aspersions on Sanusi from his performance and performances at First Bank in

 

those declining years since the problem was worldwide. For that, we move to understand Sanusi from

 

his role as a banker and his role as a CBN Chair. In many ways, the thematic difference between Sanusi

 

the banker and risk manager and Sanusi the CBN Chair is to be understood if we are likely to form the

 

right estimate of the man in question.

 

 

 

First it can be noted that Sanusi’s action at First Bank is mainly nominal given the outcome of the

 

challenges the bank was facing in terms of risk management. First Bank as at April 2008 was already

 

shrouded in complacency, already a lilac within the hue of commercial banking and already showing

 

signs of decay from many years of bad management. First Bank was for many years the only bank that

 

held its ground against many buffeting of Nigerian economic society. The problem of being so pivotal in

 

any economy is that you are as the banker become, the pivotal litmus paper for testing and gauging the

 

range of motion in your local economy. In one sense, you are likely to bear loses of whatever happens to

 

your local economy and it noting lifespan.

 

 

 

“But is Lamido Sanusi the messiah he wants us to believe he is? He has made enemies for himself,

 

powerful enemies. Those billionaires, nay trillionaires, he has ridiculed and de-robed are unforgiving.

 

Those with vested interest in the banks he has dealt with are up in arms to get back at him”.

 

The issue of life-span of risk and portfolio management also applies, for it seems that when a Plateau is

 

achieved in any money market graph without original input, the only way forward was essentially

 

downwards. In terms of precaution the case is salvage but in terms of risk, we might begin to suspect

 

the inevitable when the market is seriously kinetic, in perpetual motion. In many ways, both graphs offer

 

signals for hedge and defense, perhaps a haircut. But most banks who naturally get a haircut from many

 

years of active success, do bounce back from forms of insolvency. So Plateau is dependency driven on

 

meet of any event in the economy.

 

 

 

Plateau is an illustration of system's condition, both in markets and in banking, since kinesis is

 

exhausted and market thoroughly cash cow, thematically predictable. By this, we might consider the

 

reasons behind the bad performances of First Bank which was a mere reflection of the economy to the

 

disputable degree that the risk managers like Sanusi would have been the shiv for trimming misdiagnosis

 

of the non performing debt since he and his group were the see at one of the biggest banks in the

 

country and they knew better. Nigerian economy was bad and banks could only survive in terms of

 

numbers and not in terms of value, which the problem was not mainly the banks although they bear a

 

brunt of it all. The breakdown in the economy was not their fault.

 

 

 

With larger Banks and heavy market capitalization, there is a possibility that a Bank’s insolvency gap can

 

be totally breached or covered by other forces operating in the economy, making it seem that the Bank

 

is actually doing well or has been doing well when is not the case.

 

 

 

One of such economic factor is inflation. It is often intent of producing a class of people who use the

 

religions as bait to perpetuate such class, a class that has no merit even in Islamic society. Of course it is

 

little wonder that late Yar’duwa, Lukman Rilwanu former oil minister, Sanusi and his family, are part of

 

this new attempt at producing a class of Muslims leaders who fester to the Nigerian oil and then banks.

 

 “But one year on, Sanusi has earned the respect and trust of the international banking publics. None of

 

his critics have so far been able to unearth any misdemeanor or professional misconduct against him in

 

his banking career. His indignation is righteous then, even if frightfully unmeasured”.

 

So far he has ruined Nigerian International reputation in Banking given the unorthodox style of

 

execution. It is not the acclaim that he receives from his cheer leaders that is important but on how he is

 

to be perceived from elsewhere. Sanusi may be seen as a man of action by his group, but in terms of

 

what he is faced to accomplish, he has in many ways left several victims. Needless to point out that his

 

victims do not include members of the Sharia Advisory Committee. His victims include those who in

 

times past may have also suffered the intolerance of others. When we look at Banking as a feeder for

 

the country, we understand why Sanusi was citing a case for North that was so supposedly neglected

 

but the poverty of the North is more like the problem of one group controlling many of the wealth and

 

those who rely on them feed around them and sometimes do nothing. They are very certain that if it

 

goes bad someone will use the diversionary means employed by Sanusi to strip certain others of their

 

hard earned largesse and they call ‘them’ corrupted while envy will silence the most obdurate of them

 

all. “Strong and effective corporate governance is being enforced through the overhaul of the system of

 

board appointments, tenure, and the requirement for responsible and efficient management. An asset

 

management company (AMCON) has been established as a resolution vehicle to assist in the

 

recapitalization of the banks that have required CBN intervention”.

 

 

 

Lamido Sanusi came upon the scene literally on a white charger, fuming with righteous indignation.

 

Unlike his predecessor who was plucked from the academia, completely green in practical banking, SLS

 

combines both intellectualism and practical knowledge of banking, especially of risk management.

 

Before becoming the governor of CBN he already knew half of the shenanigans going on in the banking

 

industry and he was unimpressed by the affluence being flaunted by his colleagues in the banks. As CEO

 

of First Bank, brief as it was, he felt even affronted by the vain and inglorious display of materialism and

 

mediocrity by some of his peers. Then fate worked in his favor and he became governor of CBN

 

overnight.

 

 

 

There are new and qualitative policies being introduced by Sanusi’s CBN to bring sanity and stability to

 

the banking industry and growth to the real economy. Effective debt recovery measures have been

 

introduced in the banks, and they are now mandated to make full disclosures in their reports just as

 

harmonization of their accounting period is prescribed. Strong and effective corporate governance is

 

being enforced through the overhaul of the system of board appointments, tenure, and the requirement

 

for responsible and efficient management. An asset management company (AMCON) has been

 

established as a resolution vehicle to assist in the recapitalization of the banks that have required CBN

 

intervention.

 

 

 

Mr Sanusi Islamic Banking has its moments it is of some success in many parts of the world, like in South

 

East Asia. In Nigeria, we are very good people and we can allow our Muslim brothers to bring the best

 

part of their banking, and no group is that tolerable more than the East. Inviting 5 Islamic countries to

 

buy Nigerian banks or at least become majority stakes isn’t funny, but that’s exactly what Sanusi did.

 

These days, Muslim countries and their societies are not doing very badly and they include Muslim

 

Community Co-operative of Australia, Indonesia, Brunei, and so on, that render services and advisory to

 

Islam loyalist. These days we have all kinds of financial product like Islamic Financial Services, Muslim E

 

trade, ‘Muslim Yahoo Finance (Islamic Q)’. And then there are Arabic Banks that played a serious hand in

 

the spike of oil prices from 2001 – 2008, raising their ante against the West economic society and its

 

paean ancillary. It seem as if it is a hidden war to which Nigerians are forced to participate either/or.

 

The advice that he Madam Ngozi-Okonjo-Iweala has so far offered should be considered from the wrong

 

and right, but the product of that financial class which includes the current crop of managers at the

 

helm of Nigeria financial Cabal are advocating projects and programs that does not at the moment seem

 

to break the rules of economic growth, but has trapped Nigeria and the Nigerians into a future which

 

the development project will determine. There is little or nothing anyone has said about this and many

 

people who seem to support this position by the Nigerian President and the Minister for Finance and

 

Development Mrs Ngozi Okonji-Iweala has left no useful reaction to this development saying that of the

 

expenses associated with Crude oil.

 

 

 

What is the opportunity cost of removing oil subsidy? It is somewhere between 15-25% inflation which

 

is a form of taxes and outside the bargaining power of these Nigerians, they are expected to once

 

endure out the high rise of inflation of some quality.

 

 

 

The whole role call on why the public is expected to endure this situation failed to indicate that it was a

 

parsimony for IMF and WORLD BANK, as if the use of Euro or foreign denominated currency in Nigeria is

 

a sign of privilege or that the attempt of Nigerian Bankers to create in Lagos or Abuja a kind of Canary

 

Wharf is not absurd enough. It does appear that the African Economies are attempting to fund their own

 

investment on a level not quite seen before. Perhaps, it is the entrance of China or Re-entrance of Russia

 

into Africa that changed the focus of Africa, but others such as Robert Mugabe who has seen it all, may

 

not exactly identify with the new spirit. It does not mean that the end is here for the old type of African

 

Big man or woman, rather, a new period of economic transition and growth calls for Nigeria and African

 

involvement in total world affairs.

 

 

 

Perhaps it is foreign interest in a country like Nigeria that makes the difference. It began to take place in

 

sizable amount in recent times but only covered a few sector. This funds are mainly driven by private

 

and not public entities and there are pesky issues of development, degree of development associated

 

with state to state development or the decentralization of Lagos and Abuja as the hub of Nigerian

 

business life, whereas half a century ago, these centers included Aba, Calabar, and Kano, which as

 

central to the commerce weight of the country. And the idea of Federal Government expansion is the

 

opportunity cost of defraying its expenses to help its Government crusade on privatization. Since no

 

incentives for such bold endeavors exist, we have to mention that Nigerian financial structure needs a

 

new form of economic redemption or may be facing a present adverse effect with future consequences.

 

…………

 

Buhari vs Jonathan, let the real argument begin

 

Jan. 25th, 2015

 

By

 

Charles Soludo

 

This response to Soludo essay ‘Buhari vs. Jonathan; let the real debate begins’ is based in large part on a

 

response to Ernest Simeon Odior covering the chief problems of Nigerian economy and why the gaps in

 

budget and financing will paper out differently with additional shedding of Crude oil price.

 

Charles Soludo’s recent paper has attracted all kinds of attention including indigent responses from

 

Politicians who’s need to put the essay behind them or drive a force in considering the problems of

 

current political dispensation. It would be important that Lamido Sanusi responded – at least based on

 

those legitimately qualified with experience to do so – be he obviously can’t, he has a pontiff role to

 

perform as the Emir of Kano and as such his comments will be consigned to general reassuring

 

observation, like Shehu Shagari an original pontiff in his own right, the political wright (writ) and

 

arguments from these icons of recent statesmanship and cadre may or may over shadow the thrust of

 

Soludo’s arguments.

 

 

 

While both leading parties of PDP and APC may speak volumes about new roads, fire and electricity, -

 

and we have heard this before – airports, running water, and the new themes of Shipyards, Enugu dual

 

bridges, Owello road, Kano and Kaduna dualization, the unfinishable Benin – Ore – Shagamu highway,

 

NMBS and issue of housing authority, the Country really do not have the means and the resources for

 

these projects. To even pursue some of the projects, it was borrow on top of the money it has always

 

borrowed even when there is plenty to spend and when the budgets are ground breaking. This is the rea

 

story, we have enjoyed a period of seeming prosperity not because of the competence of the current

 

administration which he rated economically ‘f’ but because of the inability to meet the needs and

 

promises at his beck and call and the relying on further borrowing may put Nigeria below (BB –) which

 

Charles Soludo for the records achieved in office from D rating.

 

 

 

On a purely academic process, we may or may acknowledge the fact the bust of Nigeria Asset class, loss

 

of National property for instance crude oil to hungry idiots from elsewhere are part of the fundamental

 

deals with FDI and long term investment, are insinuations that can be located in Soludo’s use of

 

‘conditionalities’, to an extent that a short fall in any real market structure; debt to ratio, debt servicing,

 

and return rate due to porosity of currency rate and debasing of currency especially with the chief

 

operating companies in Nigeria overweight on their investment capacitance and commodity, can wipe

 

out in one year, a total life savings of a fixed income earner and benefactor of unemployment

 

compensation including a favorable continued time artificializing of IRS.

 

 

 

Many of the Short sales that arrived Nigeria from oversea and from Nigerians with more than one

 

International Repos in Nigeria are like Nigerians themselves betting on the collapse of Nigerian stock

 

exchange which stalled in the last few months and perhaps briefly lubricated with Presidential elections

 

spending. But for how long and to what extent is the spending? Put it different, it leads from Soludo’s

 

arguments and concerns that houses progress made conventionally and unconventionally in Lagos and

 

Abuja is not so much sustainable, that it requires additional national spending to ensure its future, else

 

these buildings will end up in hands of banks that has a stake in driving Nigerian Bond market reverted

 

to project A such as Electricity and Energy supply which Aganga engineered with the help of Goldman

 

Sachs.

 

 

 

To put it bluntly and using my own terms, Nigeria is basically a poor country that need real plans if has

 

any future plans of surviving the current economic depression. In essence, relying too much on crude oil

 

as the only cash crop is not without a finality which the easy money of the last decade leads from false

 

economy to sponsor a future of prosperity even when this is not the case. The nominated projects

 

including problems of housing in my beloved Riverine States, was not overcome during this

 

administration with its easier monetary income.

 

 

 

And to every extent, we can maintain our advocating for either essays of Soludo with a response to

 

Odior and from that response to the article as from Soludo we may argue that we are suggesting that

 

the article is not necessarily political, that given the economic conditions of the world presaging the

 

article’s composition, possibly written in December 2014, are ingredients in the global markets such as

 

crude oil price decline. The timing of the composition and publication suggest Soludo’s interest that is

 

not far from politics especially the spent force and energy arguments of GEJ’s official accomplishment

 

and recent linked-in pages.

 

 

 

Sailing above this politically of the responses to Soludo is the issue of the format and intellectual

 

brocade over and around the Zeist of 2015. The critical format of Soludo’s argument and the man’S

 

natural power of delivery is what seem to now divide the country, nesting between the legitimacy of

 

GEJ’s return to office and the images of Buhari with austerity to reckon against backdrop of the end of

 

Shaghari’s administration. The major punch line in his evolving essay and which can be argued from the

 

position of an economist is the comparison between the Shagari’s later day administration and the rise

 

of crude oil prices which did not end very well with many States still starving and owed back to back

 

salaries. He leaped frog into the problems of the current administration with the intervention of the

 

military in 1983 and why there was the issue of Austerity. In some sense, there is a decline which he was

 

perhaps indicating from the evocation of the 7 point policies of Obasanjo that seem to be a throwback

 

to the past.

 

 

 

A summary of Charles Soludo’s essays is hard to box in, but he is essentially decrying,

 

(1) the lavish psychology of the country in the years of its boom and why there is need to look at what

 

the country holds for you under the ‘f’ class economic class under these new bishops of Nigerian

 

financial, warranting a reaction from Pat Utomi who went a shade away from ‘consumptive budget’ to

 

questions of spending parallel to New Deal and his Lee Kwan Yew. Sometimes you wander if this man is

 

playing the country towards a socialist ideology, and wonder how fittingly APC resembles socialism or

 

was his endorsement due to Fashola who was proved a lightning rod for APC political stake in Nigeria.

 

(2) The second denomination of Soludo’s writing is the issue of solution to the problem, which he

 

believe to be necessary given the debt Nigeria sank into when the government shifted from surplus and

 

easy money of crude oil boom from late 70’s through to early 80’s and why Nigeria’s failure in preparing

 

for a possible hard and difficult times is not met with serious and competent economic agenda.

 

The root problem it’s not the spending or the proposed spending by either parties, or the benevolence

 

to expand the government, we can only guess even from Soludo’s piece that the main event is how to

 

realize the money against the unbundling of new economic realities and demographic. He did not

 

specify how basic economic changes can be reached and met, but seem to suggest that poor

 

administration of the duties of financial ministers and the errors involved in federal accounting process

 

is the major reasons why there is a problem primary to preparedness.

 

 

 

(3) The third principal issue raised by Soludo is the preparedness of both parties, although a response

 

from Governor of Ekiti State Kayode Fayemi attempted to show the policies and plans of APC, Fayemi

 

was ‘flying on engine’ with his comments, especially for a man who has never visited South East for a

 

Start. Some of the APC programs including the promise of creating 20, 000 jobs in every states, are

 

government problem item requiring still another round on spending. PDP to argue has the programs

 

that covers new police equipment, border control and patrol for custom, reformation of the jails in

 

Nigeria* (my favorite) and renovation for 120 Eminent School for high school education, grants, grid

 

system electricity, rehabilitation of health, farm and agriculture, wildlife preservation and fish industries

 

and hatcheries, detective for airports and port security, mines and national park programs, local

 

intelligence corporation using high speed internet and crime support units, employment benefit and

 

improved pension and back to incentives (another favorite), all of these can’t be a single parties

 

cooperative agenda, it is part of the national planning which PDP cannot ameliorate.

 

 

 

 (4) The other political item which needs not to be rehearsed is the issue of local political bandwagon,

 

with emphasis to arena where Charles Soludo once pursued political interest; Anambra, his commentary

 

on Peter Obi, warranted a vacillating reaction from Anambra Peter Obi who is on his way out or so it

 

seems in Anambra. This point he made in his essay warranted a reaction from Peter Obi’s media

 

consultant Valentine Obienyem, and from this range of group of argument the more thorough issue of

 

economic recovery and economic balance sheet which GEJ is wrestling to overcome showed up

 

differently and remains part of the reactionary tendencies in other people who are looking to be heard.

 

 

 

(5) The problems of accountability where he questioned the missing 30 trillion naira from Nigeria and

 

erroneous administrative measures implored Nigeria’s current finance and economic minister Ngozi

 

Okonjo Iweala, who should or should not be blamed for some of the woes of the country which the ex-

 

governor of CBN mentioned in his essays – perhaps committing in his second essays the same fallacies

 

as Lamido Sanusi that injured the operability of a CBN as grudgingly repaired by Godwin Emefiele.

 

We begin from the end, by citing the issue of corporate finances raised by the authors.

 

 

 

Should the finance and economic coordinator be blamed, the answer is no, not entirely. But it could

 

however be said that specific areas of the economic monetary and capital flights in Nigeria under her

 

administrative belt make her a scape goat and ultimately guilty for the poor and non-existing financial

 

accounts of Nigeria. Perhaps a separation between Economic Coordination should be partition from

 

Nigerian Finance, that both ministries in future should consider a difference between accounting

 

procedures and price penetration of its investment categories.

 

 

 

With advent of military leadership in 1983 under very spurious and questionable circumstances of

 

Buhari and Idiagbon we can enter some of the frayed arguments by Soludo as if from a vintage which

 

only a few Nigerians can access. But this vintage in the years that Soludo was in Nigeria, may or may not

 

have been so precise that Nigeria’s sophistry included the inoculations of Sanusi and at debasement

 

impregnation of Nigeria by Oscar Onyema is a country that is shocking behind many nations of world, to

 

a point that its lack of adjacent philosophical procedure and entailment of business logic, it’s a concern

 

that must not be taken lightly on any account in the country.

 

 

 

Soludo was right that both parties looking to re-enter Nigerian politics were not prepared to deal with

 

the problems that country is having. For sure, he couldn’t have known the difference between economic

 

theories guiding the country if he was in Nigeria, his switch of official positon from neutral and

 

pampering iconoclastic in Nigeria affairs including his reserves on some of his assumptions of future of

 

the country assumed a tidal wave when he was moved to overseas and see what many of us have seen,

 

a country far below its capacity level, and looking to be redeemed.

 

 

 

There is also the questionable character of the current Petroleum Chairperson, who as some people may

 

or may not have known, its over-night one of the richest persons in Nigeria, worth in recent times,

 

billions of dollars. The accounting strategies in Nigerian is way below standards, and the accounting

 

procedure of the existing economic countries of Nigeria is so personal that it is impossible to outdo the

 

Madam Iweala and minister of Petroleum as generally accountable to these problems in Nigerian

 

finances. If one is willing to add….

 

 

 

Paul C Nwabuikwu speaking on behalf of Ngozi Okonjo Iweala, pointed out that during the period in

 

question, Nollywood, Bank Development, NMRC (Nigerian Mortgage Refinance Corporation) were

 

created including the 6 million farmers in Nigeria, all of which requiring government spending. In all

 

reality we could suggest that part of the budget expansion of federal government and the provisions for

 

these new but minor introductions of changes in Nigeria, but may be considered part of fiscal policy and

 

expansion following the….has little or nothing to offer Nigerians and the President saving for issues of….

 

“On the issue of debt, Nigerians deserve to know the truth and we have said it before. The truth is that

 

the government borrowed in 2010 to pay an unprecedented 53.7 percent wage increase to all

 

categories of federal employees as demanded by labour unions. The total wage bill rose from N857

 

billion in 2009 to about N1.4 trillion in 2010, and as a result, domestic borrowing increased from N200

 

billion in 2007 to about N1.1 trillion in 2010 to meet the wage payments. Where was Soludo at the

 

time? Why did he not react to the borrowing then? Was it because he wanted to pander to labour in

 

preparation for his political career? (Nigerian Eye, January 28th, 2015) …..

 

 

 

In Madam Iweala words, “an embittered loser in the Nigerian political space” that is “so derailed” to

 

“commit intellectual harakiri by deliberately misquoting economic facts and maliciously turning statistics

 

on their head to justify a hatchet job”. Whereas the madam cannot justify her position on Soludo on any

 

count and for any reason, this position is ultimately wrong. She seems to fail to deal with some of the

 

numbers in Soludo’s message than arguing from a general point of view. From a general point of view,

 

the argument seems to give her general defense mechanism, yet in all, the mechanism she implies is

 

faulty to a certain extent. For all we can suggest and speaking with her general point of view without in

 

this case indulging Soludo’s point, we can point out that Soludo’s essays mentions that an increase of

 

crude oil prices occurred between $40 a barrel during his time reaching $60, to a $100 a barrel until

 

fairly recently.

 

 

 

He used a leverage to enter the argument of Shehu Shagari where he insisted that the boom in crude oil

 

did not guarantee employment or full employment, and from all accounts, the problem of employment

 

may be rooted in the disbursement process to these workers in the States whose wages were not paid

 

in spite of the boom and as such fixed and resources allocation took a beaten and was not fully met and

 

guaranteed. Shehu Shagari problems were not necessarily patriotic – he was and still one of the

 

thoroughbred of Nigerian politics and Pan African West African – he’s was the problem of corruption

 

hence a correlation between his administration and the current oil swelling and easy money

 

administration of our current President Goodluck Jonathan.

 

 

 

In Charles Soludo’s words, “For comparisons, President Obasanjo met about $5 billion in foreign

 

reserves, and the average monthly oil price for the 72 months he was in office was $38, and yet he left

 

$43 billion in foreign reserves after paying $12 billion to write-off Nigeria’s external debt. In the last five

 

years, the average monthly oil price has been over $100, and the quantity also higher but our foreign

 

reserves have been declining and exchange rate depreciating.

 

“My calculation is that if the economy was better managed, our foreign reserves should have been

 

between $102 –$118 billion and exchange rate around N112 before the fall in oil prices. As of now, the

 

reserves should be around $90 billion and exchange rate no higher than N125 per dollar.”

 

We can loosely argue for and against both engineers of finance and two time GEJ cabal; Cabal Madam

 

Okonjo Iweala and Bishop Charles Soludo who is defining the generic, the political dogma. These two

 

may or may not have been primus inter pares of Nigerian economy, or political Irokos defining a party’s

 

agenda, whereas a party is just a social and political gang engaged in civil party and leadership right, it is

 

a back seat or so it seems for an oval office or political appointment of import.

 

 

 

The point is that quantity of currency or quantity of money in expansionary market policy seems to

 

show that there is a deficiency gap in considering a digital money, slightly different from Credits cards

 

and Debit cards, to psychologically discourage the tendency to spend or expenditures with respect to

 

Robert Mundel and Harry Johnson, who see the relationship between purchase and balance sheet

 

economic unraveling as similar to expenditure or study of expenditures, which are necessary for

 

improving aggregate demands but do not have to toe the lines of John Keynes even though he should be

 

absorbed of the comparison and shadowing in of his monetary policies by Harry Johnson who see

 

Keynes as fatal example of old forms of economic theories. But in the context of quantity of money

 

given the mindset of Fisher and his MV = PY, Friedman’s MV (f.) (Money velocity, compared to

 

Friedman’s money supply, may show that the two angles on both equations should emphasis quantity of

 

money where price theory is reversion to what we have.

 

 

 

And in the programs endorsed by the Bishop Charles Soludo, Emir Lamido Sanusi, OBJ, Cabal Ngozi

 

Okonjo-Iweala and GEJ, were leading expansionary government programs, need to emphasis the

 

spurious impact on the country through its core inflation. Madam Ngozi Iweala also made the comments

 

that “Soludo has shamelessly pandered to so many past leaders that Nigerians are asking one more time

 

– what position is Soludo gunning for now?”, the comments stem somewhat from elsewhere and in the

 

middle of this somewhere it’s an unfinished affair of Soludo exiting from office, since the opening

 

accounts of Soludo’s piece emphasis that he was not courting official position or seeking political office.

 

His statement may be political tossed as a warranted disclaimer for reasons of ulterior motivations or

 

foreseeing hints of political tuning, may also be considered a throw off and false advertising of some

 

measure but the heat in the argument is in its seriousness may be reduced to a form of adhominem

 

which the statement essentially assumes to mitigate, for all intent of reason, the Madam had her

 

reasons for inserting damaging castigation although as a noble intellect, but such castigating it’s like her

 

serving a bad apple at the beginning of good buffet.

 

 

 

Nigerians are starving believe or not does not mean Soludo’s argument is right, Nigeria may lack political

 

agenda does not mean they are not essentially prepared. It is not the so called Federal Government to

 

provision for the rest of the Country piecemeal to deliver an economy that protects all asunder, it is up

 

to the country as a unit to development its financial and literary capacities and force a tentative change.

 

Madam Ngozi Iweala argued that, “There is definitely an issue of character with Prof. Charles Soludo and

 

his desperate search for power and relevance in Nigeria. Nigerians should therefore beware of so-called

 

intellectuals without character and wisdom because this combination is fatal,”, it is a fair and faraway

 

argument which we can understand from a different premise, that Ravi (2007) delimited cycles of

 

inflation “And of an economic slump is triggered by inflationary pressures, monetary expansion begets

 

escalating inflation without curing the recession.”

 

 

 

“When interest rates fall, bond prices move in the opposite direction. So bond investors reaped huge

 

gains. However, elderly retires suffered greatly, because many of them live on their interest incomes

 

which plummeted.” Commodity futures… Investment as structure is not a new argument; it is a

 

reasonable argument used by a Ravi to check of the Capitalist tendencies of actual world.

 

For if this is true, we can see the difference between Friedman and Fisher, since Velocity argued from its

 

impact on interest rate can be considered money, where interest rate which as Ben Bernanke

 

mentioned is price, therefore interest rate and funds rate is rate of money and its velocity is

 

concomitant to the argument about the supply of money – my demand cave – and probably attributable

 

to the early levels or stage of the rates and flows of money in action, the M1, that at end of flow, there

 

is a new level of quantity of money theory that straddle between M1 and M2, which is the path created

 

by the expansion or contraction as the underlining securities and how well it stays with the return of

 

money; the derivative, that the end of flow of rate of money, there is a diminishing of the correlation

 

between the rate of money and velocity to the money in circulation which is not exactly knowable.

 

Therefore one function which Soludo’s argument did not perform is the rate of money and its relevance

 

to price, beginning at the receiving end of the flow and velocity of bull-like easy money to a bear period

 

with finagling and penchant for claw back. For if we consider that the scalar and vector quantity is added

 

to the first rate of monetary expansion and the upside it’s in inflation, there is a tendency to mitigate

 

inflation through a fund’s rate that can be achieved from interest rate preceding a future money actions

 

by Federal Reserves or Central Bank, such that the conditions of money to expire its flow is Sound

 

Money, whereas the flow measured from a period of spending may not necessary smoother out, it is

 

Stable money.

 

 

 

The price of product or manufacturing than the quantity of money redeemed by inflation or inflationary

 

pressure, although by price theory, these paths cross each other only if we explain it through M2 as

 

equal to the supply of money, and by nominal interpretation will create a bad receipt for expansionary

 

path of a final product increasing a central bank expansion, and the propensity to leverage a system ;

 

that a such propensity increases derivatives and options as opposed to the path suffered from M2 in

 

explicating velocity where sharp difference exist, which will argue that sensitive inflationary conditions

 

nominally decreases a propensity to leverage an underlying security or cave a derivative.

 

What we may argue also is that the conception is only good on paper, since in real life, people tend to

 

take more risk when there is little chance of profit and not the other way round. The only explanation to

 

this is what I tend to offer, that as much fixed rates are in US linked to US Government bonds perhaps

 

the case in Europe and housing numbers and mortgage linked to fixed income without necessarily

 

torching permanent money.

 

 

 

It constitutes trade deficit which is just as similar and the same as car parts. The flooding of Nigerian

 

economy and market with foreign paper, which were not redeemed through direct investment rather

 

redeemed through public and private acquisition of shares, means by numbers you lock out the local

 

investors who are still cheap, cherishing but perishing the new integration of their economy through the

 

internet.

 

In the words of Soludo, we infer the following, “The economy roared to average yearly growth of 7%

 

between 2003 and 2007 (although average monthly oil price under his regime was $38), and poverty

 

dropped from estimated 70% in1999 to 54% in 2004. Obasanjo was his own coordinating minister of the

 

economy and chairman of the economic management team— which he chaired for 90 minutes every

 

week. I met with him daily. In other words, he did not outsource economic management. We expected

 

that the next government after Obasanjo would take the economy to the next level. So far, we have had

 

two great slogans: the 7-point agenda and currently, the transformation agenda. They remain empty

 

slogans without content or direction.”

 

 

 

Pat Utomi, (Feb 1st, 2015) compared Soludo’s argument to Deeprak Lal and between quantitative

 

easing…“Soludo’s solutions sometimes sounded like Deepak Lal on the poverty of Development

 

Economics. I think that if we see current oil price slum as an opportunity rather than a threat then we

 

have to see a role for government in the way Lee Kuan Yew used state intervention when Singapore was

 

prostrate in 1965, as Nigeria is today.” What Pat Utomi, Peter Obi, missed so far from his argument, is

 

the comparison between the Obasanjo’s 7 point policies with IMF transition strategy from Government

 

based production units to private business and by private handlers.

 

Break it down…

 

ECOWAS; Economic Community of West African States began it full swing in 1979, set against the

 

cultural unity of Expo '77, West Africa, braced the region for a future which included single currency

 

money – at the chief argument of the commentators and chosen heads from the exposition in TOGO,

 

but did not incorporate the price of that economic banter, for instance, debt across the border,

 

problems of credit and the issue of acceptance in the Global economy.

 

We need here to rehearse some of the teachings and assumptions in this piece that one, Nigerian Oil

 

Subsidy, ECOWAS; Economic community of West African States, Government policies driving currencies,

 

SAP; Structural adjustment programs, WAI; War against indiscipline, Better life Program, 1986 Austerity

 

Measures, Privatization Scheme, Removal of Crude oil Subsidy have all come and gone but IMF has still

 

tied the country's future to these schemes and to Debt that don't count as a credit and has forced

 

Nigeria and some West African countries downward with its policies, policies that even a progressive

 

third world economy like Nigeria, can no longer absorb.

 

 

 

In Nigeria and in West Africa these days, we hear of the 'Millennium Development Goals', 'Privatization

 

Schemes', 'Balance of Payment', 'Austerity Measures' (removal of oil subsidy), 'Foreign Direct

 

Investment', IDAs, FDI; Foreign Direct Investment', 'Debt Crisis', but all of these are IMF measures which

 

Nigeria that is U.S centered has no real party. But these Schemes exist today and part of the Obasanjo’s

 

7 point policy and part of Nigerian politics and part of the Nigerian running of their plans for BETTER

 

LIFE. It involves a kind of budget expansion which the switch in the process essentially combines for the

 

best of the process or transition from the process.

 

 

 

The problem with this budget expansion is the issue of long term investment, the Vanilla for instance

 

that Oscar Onyema was selling to Nigerian and Foreign Investors, and the attention to long term bond

 

that NEPA, GEJ and Aganga (the other bishop) of GEJ’s financial starship were marketing to the world

 

could not have survived the heavy and overlooked price pressure from bank stocks given the debt to

 

investment which forex normally stall, or given the widening gap of Nigerian economic depression or

 

newly privatized economy based on their local rate of return other than Gross Domestic Product which

 

adds FDI to it as opposed to VAR and housing index.

 

 

 

The debt to investment will stall and will continue to widen and Nigeria will never get to it or get over it.

 

To understand the problems of a third world transitional processes involving in leading a local economy

 

from poor urban environment to a more technology based economy, we need to demarcate between

 

the issues of GDP and GNP which due to additional foreign investment, widens, excretes good numbers

 

to the rest of world, rebase, or debased processes, but above all, it is a paradox of the local economy….

 

This better life the case of Argentina and Mexico, like Brazil of the 70's and Korea of 70’s will not be

 

achieved under these programs that are run by IMF. Part of these measures is that it leads to something

 

when benefitting, and we are tempted to ask how can a transition from one program to another take

 

place, for it seems that the process of Free Trade agreement exercising itself in Europe and now the

 

North America operates, usually leads to the lands of regional exchange and single currency. Not before

 

the wasting and rubbishing of the local currency and economy making it easier to penetrate or exploit.

 

In proper light, the measure at work is similar to EU, compared from every angle; it is similar to the

 

future ideas of regional government and higher penetration of existing Companies.

 

Nigerians has been forced to blend in to the fact that there is a New World Money Order called Euro.

 

There is nothing wrong in accepting the doctrines of European Union and it does not seem that the

 

policies pursued by Europe are as bad and misleading policy. Yes, some versions of the policies are

 

desperate conceived for Third World economies or whatever name that is applicable and in terms of the

 

quality of European Economy and its no-grow economy, these IMF programs and loans are very not

 

called for and are basically predisposed to debtors damages.

 

 

 

The trick of this process is that a poor execution procedure in narrating Harry Johnson’s account from

 

the new reality of Mundell regional currencies, give and take on one critical aspect of all these schools

 

and perhaps why the systematic argument of the quantity theorist may not fully apply unless as I

 

mentioned from Western Union and Currency wars, that the a single in all its measure of economic

 

value is also a market quantity.

 

 

 

Needless to say that their book raised several questions about the illusions of West Economic Society

 

and NIE 'New International Economic Order' as derived from Europe, questions it did not answer,

 

perhaps better explicated as questions which did not exactly converted for answers. But from the

 

defense pact and from policies prodded by individual Government in West Africa, it seems common

 

sense that the business structure between these West African countries was likely to change or

 

expected to change, so also the structure and business of its local Community and Nigeria is not

 

different. What have witnessed in the last decade or so is that the paper currency and the call for a new

 

Nigeria and West Africa are actually hijacked by private interest from all and asunder.

 

 

 

A short précis of Pat Utomi and Madam Ngozi Nkonjo Iweala (II)

 

The economic fiber of Nigeria was rubbished by cell phone application of process, for if I for one, made

 

the argument in New York in 1998 during a small NITEL meeting trying to attract business that the future

 

of Nigeria was cell phone industries not land lines based on the report of cell phone successes in the Low

 

lands of EUROPE or Nordic circle where land lines could reach. A new APP on Africa was also launched

 

and it showed original studies on the need for high tech over low tech even for the once the locals

 

couldn’t afford. It was therefore a waste of time to pursue land lines when the means of communication

 

that made it possible its easier through cell phones. In addition to these ideas, Motorola was making its

 

presence felt in Lagos and to some extent in many parts of Nigeria. Another unraveling of the new age

 

economy of these Nigerians was their film industries which stunt in quality with a shift from….

 

The rest is history which is perhaps in-gathering like Weather Conditions, and many of us may wry a

 

smile since the devastation did not leave us amused at the beginning and may be seen to have

 

completely given the high price and pernicious prices Nigerians were forced to pay for, I seem not to

 

regret that the industries which are so emphasized will pose this unconventional inflationary pressure

 

and problems in Nigeria.

 

 

 

We may argue that the prices of cell phones are lower than ever, but Transcorp which Obasanjo and

 

Iweala including Soludo brought to Nigeria, were so private and privatized that they are probably part if

 

not majority owners of this International conglomerates that acquired NITEL for pennies. From

 

Transcorp we indulge half the argument raised by Soludo and half the issue meted out by Iweala and

 

from the sidewalk of price and price theory, it becomes easier to see why the problems a country like

 

Nigeria is experiencing and why the world – or in this case Soludo should take note in estimating the

 

effects of State imposed transition from State controlled production units to private hands and

 

management in any local economy.

 

 

 

For if we apply some measure of financial processes to this example, we notice the irrational and the

 

human side of money and self-preservation at the center of this privatization scheme. No true economic

 

hit-man or woman will fail wring the neck of these noise making Nigerians and without their knowing it

 

if the seating Government such as Obasanjo and his compeers will be enticed to a 7 point strategy and

 

they will fail. The dark side of such a scheme is that Upper House Theater is created, a vacuum system is

 

generated and by selling a mere idea that moves business into your hands as the seating president or

 

governor, will compel you and your company to defend this upper house problems of price theory. In

 

terms of the rubbishing of Nigerian economy in the earlier years of the cell phone industries for a start,

 

it is the price of supporting your lifestyle in Nigerian that suffered the most.

 

 

 

With direct protection of these areas of business which was part of the so called 7 point, you offer these

 

mercenaries all the materials they need to essentially rob your country and fleece it dry. Look at

 

differently and not to digress, many companies that made money from Nigerian Telephone industries

 

moved their resources elsewhere almost every month. South Africans made more money from Nigerian

 

cell phones that all the Nigerians companies put together, and these companies charged and bilked

 

Nigerians rejoicing almost detrimentally of their new found connection that they forgot that the

 

resources where already existing, the only that needed to be done, was authorized a protection by the

 

federal government usually when a transfer of power from, military to democratically elected offices

 

take place, and the rest of the reaping was a second matter.

 

We cannot push the indelicacy of this hit economy called Nigeria to Petroleum, for if we care to look at

 

process involved in emasculating the OPEC out of its control of Nigerian Oil block, or the processes

 

involved in breaking down some of the congestion with Shell which Halliburton did, leaving Exxonmobile

 

in charge of Nigerian resources many oil well South-South of the Country and the boundaries

 

with Cameroons, we find that the profit which are touted from this process of resource allocation to

 

federal purse, are no longer easy to demonstrate and are in fact out of control.

 

Recently, GEJ asked every group drilling and bunking crude oil from off the continental shelf of the

 

 

 

Riverine areas to disembark their boats or have it blown to bits and he did. We measure however that

 

even with the rise of the crude oil prices to 100 per barrel, and Nigeria removing itself cyclical crude oil

 

subsidies; meaning, Government has to subsidies on the price of crude oil as a way to easy off the

 

problems of inflation which a rise of crude oil prices or even a market level perorate prices entering

 

public consumption creates the problem of continuous disequilibrium ----usually private decision

 

function based on price theory----but in time past, with hard and fast military whose corruption was not

 

something dissimilar, the country was paying too much and essentially wasting it as opposed to saving

 

some of the money for latter day or macro government (increasing consumption budget) by definition,

 

which Madam Ngozi Okonjo Iweala, argued in the interest of Nigeria and fattening the saving purse of

 

the treasury, which in the end, may lead to more government spending than the unconventional tactics

 

of inflation control.

 

 

 

For a point, this subsidies are probably not necessary yet on the same point, removing the subsidies is

 

torturing the bond market, which naturally offload investment from long term comfort and

 

sustainability to short term – placing a separate funk on the Stock market, whereas momentum shift the

 

emphasis of growth to paper currency, shadow banking and inflation in the country especially at the

 

time of easy money. We may also come to understand the shift at this level occurs when a housing

 

number shoots ahead other CPI measures in the country.

 

 

 

For if we care to look at the poverty level in the Nigeria, we may notice a bipolar trend, one, a shrink of

 

populist idea of poverty; there are more Nigerians with houses than ever and more Nigerians with cars

 

than and cell phone to booth, but the laxity of economy survey gives way to more problems overall

 

economic growth which is implosion of Nigerian mid class and shocking debasing of its quality of life.

 

In some sense, most Nigerians are actually starving from even the most available of resources than ever

 

before, yet compared to poor examples of market resources like we have in Lagos and we have in Abuja

 

with oversea dumping of resources in Nigeria more than anytime, you are likely to accept there is

 

emergence of a 1% population in Nigeria with all the money which will not buy much still, and the big

 

gulf of proper and green market in Nigeria given the deepening crisis which is gradually coming.

 

In spite of the write off of Nigerian debt under Obasanjo which Soludo maintained in his essay, and the

 

swelling of resource allocation and sovereign wealth, property from all asunder including the increases

 

of crude oil prices swelled the chances of inflation. GEJ to be sure administration actually owes the

 

world dangerous amount of money and in terms of Soludo argument, outside the issue of Sound money.

 

 

 

 

 

In terms of NEPA which are said to be privatized very soon, who idea that was is not clear, the price of

 

protecting the inflation and not the output of Electric energy, for they could not save enough or realize

 

to even ensure the health of an economy, in spite of the condition.

 

 

 

The question is not transition from government owned industries to private business during which a

 

country experiences its highest changes and churn off more business and economic harvest than ever.

 

We take an instance the issue of privatization from many parts of the Global Macro applies also in

 

Nigeria, may therefore be leading the suggestion that with the advent of free trade in some parts of the

 

world for instance the NAFTA, allays the fears of Soludo assuming we bump him up on his argument, for

 

when privatization in Europe and in North America reached a deciding and critical level, the new owners

 

of the business gradually began to shift to debt and rate of return.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Essay VI

 

Response to Soludo essay ‘Buhari vs. Jonathan; let the real debate begin

 

By

 

Sampson I.M Onwuka

 

 

 

This response to Soludo essay ‘Buhari vs. Jonathan; let the real debate begin is based in large part on a

 

response to Ernest Simeon Odior covering the chief problems of Nigerian economy and why the gaps in

 

budget and financing will paper out differently with additional shedding of Crude oil price.

 

Charles Soludo’s recent paper has attracted all kinds of attention including indigent responses from

 

Politicians who’s need to put the essay behind them or drive a force in considering the problems of

 

current political dispensation. It would be important that Lamido Sanusi responded – at least based on

 

those legitimately qualified with experience to do so – be he obviously can’t, he has a pontiff role to

 

perform as the Emir of Kano and as such his comments will be consigned to general reassuring

 

observation, like Shehu Shagari an original pontiff in his own right, the political wright (writ) and

 

arguments from these icons of recent statesmanship and cadre may or may over shadow the thrust of

 

Soludo’s arguments.

 

 

 

While both leading parties of PDP and APC may speak volumes about new roads, fire and electricity, -

 

and we have heard this before – airports, running water, and the new themes of Shipyards, Enugu dual

 

bridges, Owello road, Kano and Kaduna dualization, the unfinishable Benin – Ore – Shagamu highway,

 

NMBS and issue of housing authority, the Country really do not have the means and the resources for

 

these projects. To even pursue some of the projects the country has borrow on top of the preexisting

 

debt. Nigeria has always borrowed even when there is plenty to spend and when the budget is ground

 

breaking. This is the real story, we have enjoyed a period of seeming prosperity not because of the

 

competence of the current administration which he rated economically ‘f’ but because of the inability to

 

meet the needs and promises at his beck and call and the relying on further borrowing may put Nigeria

 

below (BB –) which Charles Soludo for the records achieved in office from D rating.

 

 

 

In one of the responses to Soludo by Madam Ngozi Okonjo-Iweala's words, “an embittered loser in the

 

Nigerian political space” that is “so derailed” to “commit intellectual harakiri by deliberately misquoting

 

economic facts and maliciously turning statistics on their head to justify a hatchet job”. Whereas the

 

madam cannot justify her position on Soludo on any count and for any reason, this position is ultimately

 

wrong. She seems to fail to deal with some of the numbers in Soludo’s message than arguing from a

 

general point of view. From a general point of view, the argument seems to give her general defense

 

mechanism, yet in all, the mechanism she implies is faulty to a certain extent. For all we can suggest and

 

speaking with her general point of view without in this case indulging Soludo’s point, we can point out

 

that Soludo’s essays mentions that an increase of crude oil prices occurred between $40 a barrel during

 

his time reaching $60, to a $100 a barrel until fairly recently.

 

 

 

He used a leverage to enter the argument of Shehu Shagari where he insisted that the boom in crude oil

 

did not guarantee employment or full employment, and from all accounts, the problem of employment

 

may be rooted in the disbursement process to these workers in the States whose wages were not paid

 

in spite of the boom and as such fixed and resources allocation took a beaten and was not fully met and

 

guaranteed. Shehu Shagari problems were not necessarily patriotic – he was and still one of the

 

thoroughbred of Nigerian politics and Pan African West African – he’s was the problem of corruption

 

hence a correlation between his administration and the current oil swelling and easy money

 

administration of our current President Goodluck Jonathan. In Charles Soludo’s words,

 

Another important response which is not the greatest is by Pat Utomi…..which here we can briefly, “This

 

leads to another point I am not in agreement with Soludo on. He talks about cost of programs and the

 

fact that low oil prices mean you cannot finance a big idea. In 1965 Singapore’s main revenues came

 

from rent for the British Naval Base and the British had decided to shut all bases east of Eden. The

 

decision of leaders of the United Malay, National Organizational (UMNO) to eject Singapore from the

 

Federation that was thought to be the only hope left.”

 

“Let’s ask people, regarding incumbents, is your life better today than it was four years ago and to the

 

challengers how can you make these same lives much better four years from now. (?)” (Vanguard News

 

February 1st, 2015)

 

 

 

The main event of the problems associated with the 1920's and the Age of Depression is whether or not

 

equilibrium is possible with the changes in GDP as opposed to having full employment, and can inflation

 

occur when there is full employment? In one Nutshell, we can reduce the question to this standard

 

Virginia University 'Portable MBA' asked a question, “Is it possible to have an equilibrium at some level

 

of GDP other than full employment, and is it possible to have inflation at a level of GDP below full

 

employment" Keynes argument that in order to 'stimulate the economy' there's need for the

 

government to intervene to improve aggregate demand through 'expansionary' fiscal and monetary

 

policy, was derived from his thesis that depression in the world was due to insufficiency of Demand, that

 

a sort of deflation essentially took place in U.S of the 30's and such there's need for more government

 

spending.

 

 

 

But this theory mainly works in a nearly successful economy like U.S of the 20's and 30's, and Europe

 

sometime later. In a country like Nigeria, a theory of munificence through spending has little or no merit

 

unless we admit to ourselves that the country has been a Depression or simply a form of crisis. In fact it

 

could be disastrous to prove will have the country towards a fulfilled future if does not. It is therefore

 

economic bias to suppose that as such Government spending was a way to push towards full

 

employment, which in turn improves the resources of the buying crowd.

 

 

 

It is true that Keynes Identified 'insufficient demand' as the reason why there was general fall in prices,

 

wages, and it is quite clear that he may have identified a problem associated with the 'demand' hence

 

the supply of financial resources if need be was important. Insufficient demand is not the problem in

 

Nigeria. It is however possible that Keynes identified a problem and not the problem. If this theory

 

applies to recovery, then recoveries involve useful government spending then, Keynes was mainly been

 

notional about the macro implications of his theory. However separated from these theories is the plain

 

fact of a single currency over a broadest possible extent, could it be that the changes that govern

 

investment is left to the agreement possible demands or the largest portions of any society having some

 

access to the theory of Aggregate Supply and Demand is a remedy for economic recovery and as such

 

only 'probably' good for recovery - even though the theory is applied everywhere and for every

 

occasion. What is the economic theory?

 

 

 

This theory does not help our understanding on how to grow in any economy; the most important

 

aspect of any economy is growth. In essence we are left with what really happens when any nation on

 

earth is meeting expectations but experiencing a growth problem like Europe? Or, when a country is not

 

meeting expectation but also growing like in Nigeria. That latter is a sample of a sluggish economy and

 

sluggish economy often lead to a breaking of economic structural and then a country leans to old and

 

proven theories as a way to recover. There is the spending or the expansion of the Nigerian

 

Government, and it is common sense that inflation and foreign direct investment gives the impression

 

that you are growing, and a cut back on spending which usually follow, could be a symptom signaling a

 

further dive into depression.

 

 

 

On a purely academic process, we may or may acknowledge the fact the bust of Nigeria Asset class, loss

 

of National property for instance crude oil to hungry idiots from elsewhere are part of the fundamental

 

deals with FDI and long term investment, are insinuations that can be located in Soludo’s use of

 

 ‘conditionalities’, to an extent that a short fall in any real market structure; debt to earn ratio, debt

 

servicing, and return rate due to porosity of currency rate and debasing of currency especially with the

 

chief operating companies in Nigeria overweight on their investment capacitance and commodity, can

 

wipe out in one year, a total life savings of a fixed income earner and benefactor of unemployment

 

compensation including a favorable continued time artificial to IRS.

 

 

 

Many of the Short sales that arrived Nigeria from oversea and from Nigerians with more than one

 

International Repos in Nigeria are like Nigerians themselves betting on the collapse of Nigerian stock

 

exchange which stalled in the last few months and perhaps briefly lubricated with Presidential elections

 

spending. But for how long and to what extent is the spending? Put it different, it leads from Soludo’s

 

arguments and concerns that houses progress made conventionally and unconventionally in Lagos and

 

Abuja is not so much sustainable, that it requires additional national spending to ensure its future, else

 

these buildings will end up in hands of banks that has a stake in driving Nigerian Bond market reverted

 

to project A such as Electricity and Energy supply which Aganga engineered with the help of Goldman

 

Sachs.

 

 

 

To put it bluntly and using my own terms, Nigeria is basically a poor country that need real plans if has

 

any future plans of surviving the current economic depression. In essence, relying too much on crude oil

 

as the only cash crop is not without a finality which the easy money of the last decade leads from false

 

economy to sponsor a future of prosperity even when this is not the case. The nominated projects

 

including problems of housing in my beloved Riverine States, was not overcome during this

 

administration with its easier monetary income.

 

And to every extent, we can maintain our advocating for either essays of Soludo with a response to

 

Odior and from that response to the article as from Soludo we may argue that we are suggesting that

 

the article is not necessarily political, that given the economic conditions of the world presaging the

 

article’s composition, possibly written in December 2014, are ingredients in the global markets such as

 

crude oil price decline. The timing of the composition and publication suggest Soludo’s interest that is

 

not far from politics especially the spent force and energy arguments of GEJ’s official accomplishment

 

and recent linked-in pages.

 

 

 

Sailing above this politically of the responses to Soludo is the issue of the format and intellectual

 

brocade over and around the Zeist of 2015. The critical format of Soludo’s argument and the man’S

 

natural power of delivery is what seem to now divide the country, nesting between the legitimacy of

 

GEJ’s return to office and the images of Buhari with austerity to reckon against backdrop of the end of

 

Shaghari’s administration. The major punch line in his evolving essay and which can be argued from the

 

position of an economist is the comparison between the Shagari’s later day administration and the rise

 

of crude oil prices which did not end very well with many States still starving and owed back to back

 

salaries. He leaped frog into the problems of the current administration with the intervention of the

 

military in 1983 and why there was the issue of Austerity. In some sense, there is a decline which he was

 

perhaps indicating from the evocation of the 7 point policies of Obasanjo that seem to be a throwback

 

to the past.

 

 

 

A summary of Charles Soludo’s essays is hard to box in, but he is essentially decrying, (1) the lavish

 

psychology of the country in the years of its boom and why there is need to look at what the country

 

holds for you under the ‘f’ class economic class under these new bishops of Nigerian financial,

 

warranting a reaction from Pat Utomi who went a shade away from ‘consumptive budget’ to questions

 

of spending parallel to New Deal and his Lee Kwan Yew. Sometimes you wander if this man is playing the

 

country towards a socialist ideology, and wonder how fittingly APC resembles socialism or was his

 

endorsement due to Fashola who was proved a lightning rod for APC political stake in Nigeria.

 

Although in Utomi he scores less, when he mentions that “To win elections from intimidation, a shower

 

of insults and trying to diminish opponents rather than engage their minds can only produce Pyrrhic

 

victory. The worst such “victory” would be to win an election and lose a nation through bitterness that

 

makes it difficult to get people to work together to advance the shared good of the people. For people

 

like me the public sphere is about the pursuit of the elevated immortality.” This comment is really within

 

APC and less characteristic of the man who intent to invent as a candidate in a near election.

 

(2) The second denomination of Soludo’s writing is the issue of solution to the problem, which he

 

believe to be necessary given the debt Nigeria sank into when the government shifted from surplus and

 

easy money of crude oil boom from late 70’s through to early 80’s and why Nigeria’s failure in preparing

 

for a possible hard and difficult times is not met with serious and competent economic agenda.

 

The root problem it’s not the spending or the proposed spending by either parties, or the benevolence

 

to expand the government, we can only guess even from Soludo’s piece that the main event is how to

 

realize the money against the unbundling of new economic realities and demographic. He did not

 

specify how basic economic changes can be reached and met, but seem to suggest that poor

 

administration of the duties of financial ministers and the errors involved in federal accounting process

 

is the major reasons why there is a problem primary to preparedness.

 

 

 

(3) The third principal issue raised by Soludo is the preparedness of both parties, although a response

 

from Governor of Ekiti State Kayode Fayemi attempted to show the policies and plans of APC, Fayemi

 

was ‘flying on engine’ with his comments, especially for a man who has never visited South East for a

 

Start. Some of the APC programs including the promise of creating 20, 000 jobs in every states, are

 

government problem item requiring still another round on spending. PDP to argue has the programs

 

that covers new police equipment, border control and patrol for custom, reformation of the jails in

 

Nigeria* (my favorite) and renovation for 120 Eminent School for high school education, grants, grid

 

system electricity, rehabilitation of health, farm and agriculture, wildlife preservation and fish industries

 

and hatcheries, detective for airports and port security, mines and national park programs, local

 

intelligence corporation using high speed internet and crime support units, employment benefit and

 

improved pension and back to incentives (another favorite), all of these can’t be a single parties

 

cooperative agenda, it is part of the national planning which PDP cannot ameliorate.

 

 

 

(4) The other political item which needs not to be rehearsed is the issue of local political bandwagon,

 

with emphasis to arena where Charles Soludo once pursued political interest; Anambra, his commentary

 

on Peter Obi, warranted a vacillating reaction from Anambra Peter Obi who is on his way out or so it

 

seems in Anambra. This point he made in his essay warranted a reaction from Peter Obi’s media

 

consultant Valentine Obienyem, and from this range of group of argument the more thorough issue of

 

economic recovery and economic balance sheet which GEJ is wrestling to overcome showed up

 

differently and remains part of the reactionary tendencies in other people who are looking to be heard.

 

 

 

 (5) The problems of accountability where he questioned the missing 30 trillion naira from Nigeria and

 

erroneous administrative measures implored Nigeria’s current finance and economic minister Ngozi

 

Okonjo Iweala, who should or should not be blamed for some of the woes of the country which the

 

Ex-governor of CBN mentioned in his essays – perhaps committing in his second essays the same

 

Fallacies as Lamido Sanusi that injured the operability of a CBN as grudgingly repaired by Godwin

 

Emefiele.

 

 

 

We begin from the end, by citing the issue of corporate finances raised by the authors, should the

 

finance and economic coordinator be blamed, the answer is no, not entirely. But it could however be

 

said that specific areas of the economic monetary and capital flights in Nigeria under her administrative

 

belt make her an escape-goat and ultimately guilty for the poor and non-existing financial accounts of

 

Nigeria. Perhaps a separation between Economic Coordination should be partition from Nigerian

 

Finance, that both ministries in future should consider a difference between accounting procedures and

 

price penetration of its investment categories.

 

 

 

With advent of military leadership in 1983 under very spurious and questionable circumstances of

 

Buhari and Idiagbon we can enter some of the frayed arguments by Soludo as if from a vintage which

 

only a few Nigerians can access. But this vintage in the years that Soludo was in Nigeria, may or may not

 

have been so precise that Nigeria’s sophistry included the inoculations of Sanusi and at debasement

 

impregnation of Nigeria by Oscar Onyema is a country that is shocking behind many nations of world, to

 

a point that its lack of adjacent philosophical procedure and entailment of business logic, it’s a concern

 

that must not be taken lightly on any account in the country.

 

 

 

Soludo was right that both parties looking to re-enter Nigerian politics were not prepared to deal with

 

the problems that country is having. For sure, he couldn't have known the difference between economic

 

theories guiding the country if he was in Nigeria, his switch of official position from neutral and

 

pampering iconoclastic in Nigeria affairs including his reserves on some of his assumptions of future of

 

the country assumed a tidal wave when he was moved to overseas and see what many of us have seen,

 

a country far below its capacity level, and looking to be redeemed.

 

 

 

There is also the questionable character of the current Petroleum Chairperson, who as some people may

 

or may not have known, its over-night one of the richest persons in Nigeria, worth in recent times,

 

billions of dollars. The accounting strategies in Nigerian is way below standards, and the accounting

 

procedure of the existing economic countries of Nigeria is so personal that it is impossible to outdo the

 

Madam Ngozi Okonjo-Iweala and minister of Petroleum as generally accountable to these problems in

 

Nigerian finances. If one is willing to add….

 

 

 

Paul C Nwabuikwu speaking on behalf of Ngozi Okonjo Iweala, pointed out that during the period in

 

question, Nollywood, Bank Development, NMRC (Nigerian Mortgage Refinance Corporation) were

 

created including the 6 million farmers in Nigeria, all of which requiring government spending. In all

 

reality we could suggest that part of the budget expansion of federal government and the provisions for

 

these new but minor introductions of changes in Nigeria, but may be considered part of fiscal policy and

 

expansion following the….has little or nothing to offer Nigerians and the President saving for issues of….

 

“On the issue of debt, Nigerians deserve to know the truth and we have said it before. The truth is that

 

the government borrowed in 2010 to pay an unprecedented 53.7 percent wage increase to all

 

categories of federal employees as demanded by labour unions. The total wage bill rose from N857

 

billion in 2009 to about N1.4 trillion in 2010, and as a result, domestic borrowing increased from N200

 

billion in 2007 to about N1.1 trillion in 2010 to meet the wage payments. Where was Soludo at the

 

time? Why did he not react to the borrowing then? Was it because he wanted to pander to labour in

 

preparation for his political career? (Nigerian Eye, January 28th, 2015)…..

 

“For comparisons, President Obasanjo met about $5 billion in foreign reserves, and the average monthly

 

oil price for the 72 months he was in office was $38, and yet he left $43 billion in foreign reserves after

 

paying $12 billion to write-off Nigeria’s external debt. In the last five years, the average monthly oil price

 

has been over $100, and the quantity also higher but our foreign reserves have been declining and

 

exchange rate depreciating.

 

 

 

 “My calculation is that if the economy was better managed, our foreign reserves should have been

 

between $102 –$118 billion and exchange rate around N112 before the fall in oil prices. As of now, the

 

reserves should be around $90 billion and exchange rate no higher than N125 per dollar.”

 

We can loosely argue for and against both engineers of finance and two time GEJ cabal; Cabal Madam

 

Okonjo Iweala and Bishop Charles Soludo who is defining the generic, the political dogma. These two

 

may or may not have been primus inter pares of Nigerian economy, or political Irokos defining a party’s

 

agenda, whereas a party is just a social and political gang engaged in civil party and leadership right, it is

 

a back seat or so it seems for an oval office or political appointment of import.

 

 

 

The point is that quantity of currency or quantity of money in expansionary market policy seems to

 

show that there is a deficiency gap in considering a digital money, slightly different from Credits cards

 

and Debit cards, to psychologically discourage the tendency to spend or expenditures with respect to

 

Robert Mundel and Harry Johnson, who see the relationship between purchase and balance sheet

 

economic unraveling as similar to expenditure or study of expenditures, which are necessary for

 

improving aggregate demands but do not have to toe the lines of John Keynes even though he should be

 

absorbed of the comparison and shadowing in of his monetary policies by Harry Johnson who see

 

Keynes as fatal example of old forms of economic theories.

 

 

 

But in the context of quantity of money given the mindset of Fisher and his MV = PY, Friedman’s MV (f.)

 

(Money velocity, compared to Friedman’s money supply, may show that the two angles on both

 

equations should emphasis quantity of money where price theory is reversion to what we have. And in

 

the programs endorsed by the Bishop Charles Soludo, Emir Lamido Sanusi, OBJ, Cabal Ngozi

 

Okonjo Iweala and GEJ, were leading expansionary government programs, need to emphasis the

 

Spurious impact on the country through its core inflation.

 

 

 

Madam Ngozi Iweala also made the comments that “Soludo has shamelessly pandered to so many past

 

leaders that Nigerians are asking one more time – what position is Soludo gunning for now?”, the

 

comments stem somewhat from elsewhere and in the middle of this somewhere it’s an unfinished affair

 

of Soludo exiting from office, since the opening accounts of Soludo’s piece emphasis that he was not

 

courting official position or seeking political office. His statement may be political tossed as a warranted

 

disclaimer for reasons of ulterior motivations or foreseeing hints of political tuning, may also be

 

considered a throw off and false advertising of some measure but the heat in the argument is in its

 

seriousness may be reduced to a form of adhominem which the statement essentially assumes to

 

mitigate, for all intent of reason, the Madam had her reasons for inserting damaging castigations

 

although as a noble intellect, but such castigating it’s like her serving a bad apple at the beginning of

 

good buffet.

 

 

 

Nigerians are starving believe or not does not mean Soludo’s argument is right, Nigeria may lack political

 

agenda does not mean they are not essentially prepared. It is not the so called Federal Government to

 

provision for the rest of the Country piecemeal to deliver an economy that protects all asunder, it is up

 

to the country as a unit to development its financial and literary capacities and force a tentative change.

 

Madam Ngozi Iweala argued that, “There is definitely an issue of character with Prof. Charles Soludo and

 

his desperate search for power and relevance in Nigeria. Nigerians should therefore beware of so-called

 

intellectuals without character and wisdom because this combination is fatal,”, it is a fair and faraway

 

argument which we can understand from a different premise, that Ravi (2007) delimited cycles of

 

inflation “And of an economic slump is triggered by inflationary pressures, monetary expansion begets

 

escalating inflation without curing the recession.”

 

 

 

“When interest rates fall, bond prices move in the opposite direction. So bond investors reaped huge

 

gains. However, elderly retires suffered greatly, because many of them live on their interest incomes

 

which plummeted.”

 

 

 

Commodity futures… Investment as structure is not a new argument; it is a

 

reasonable argument used by a Ravi to check of the Capitalist tendencies of actual world

 

For if this is true, we can see the difference between Friedman and Fisher, since Velocity argued from its

 

impact on interest rate can be considered money, where interest rate which as Ben Bernanke

 

mentioned is price, therefore interest rate and funds rate is rate of money and its velocity is

 

concomitant to the argument about the supply of money – my demand cave – and probably attributable

 

to the early levels or stage of the rates and flows of money in action, the M1, that at end of flow, there

 

is a new level of quantity of money theory that straddle between M1 and M2, which is the path created

 

by the expansion or contraction as the underlining securities and how well it stays with the return of

 

money; the derivative, that the end of flow of rate of money, there is a diminishing of the correlation

 

between the rate of money and velocity to the money in circulation which is not exactly knowable.

 

 

 

Therefore one function which Soludo’s argument did not perform is the rate of money and its relevance

 

to price, beginning at the receiving end of the flow and velocity of bull-like easy money to a bear period

 

with finagling and penchant for claw back. For if we consider that the scalar and vector quantity is added

 

to the first rate of monetary expansion and the upside it’s in inflation, there is a tendency to mitigate

 

inflation through a fund’s rate that can be achieved from interest rate preceding a future money actions

 

by Federal Reserves or Central Bank, such that the conditions of money to expire its flow is Sound

 

Money, whereas the flow measured from a period of spending may not necessary smoother out, it is

 

Stable money.

 

 

 

The price of product or manufacturing than the quantity of money redeemed by inflation or inflationary

 

pressure, although by price theory, these paths cross each other only if we explain it through M2 as

 

equal to the supply of money, and by nominal interpretation will create a bad receipt for expansionary

 

path of a final product increasing a central bank expansion, and the propensity to leverage a system ;

 

that a such propensity increases derivatives and options as opposed to the path suffered from M2 in

 

explicating velocity where sharp difference exist, which will argue that sensitive inflationary conditions

 

nominally decreases a propensity to leverage an underlying security or cave a derivative.

 

 

 

What we may argue also is that the conception is only good on paper, since in real life, people tend to

 

take more risk when there is little chance of profit and not the other way round. The only explanation to

 

this is what I tend to offer, that as much fixed rates are in US linked to US Government bonds perhaps

 

the case in Europe and housing numbers and mortgage linked to fixed income without necessarily

 

torching permanent money. It constitutes trade deficit which is just as similar and the same as car parts.

 

The flooding of Nigerian economy and market with foreign paper, which were not redeemed through

 

direct investment rather redeemed through public and private acquisition of shares, means by numbers

 

you lock out the local investors who are still cheap, cherishing but perishing the new integration of their

 

economy through the

 

internet.

 

 

 

In the words of Soludo, we infer the following, “The economy roared to average yearly growth of 7%

 

between 2003 and 2007 (although average monthly oil price under his regime was $38), and poverty

 

dropped from estimated 70% in1999 to 54% in 2004. Obasanjo was his own coordinating minister of the

 

economy and chairman of the economic management team— which he chaired for 90 minutes every

 

week. I met with him daily. In other words, he did not outsource economic management.

 

We expected that the next government after Obasanjo would take the economy to the next level. So far,

 

we have had two great slogans: the 7-point agenda and currently, the transformation agenda. They

 

remain empty slogans without content or direction.”

 

Break it down…

 

ECOWAS; Economic Community of West African States began it full swing in 1979, set against the

 

cultural unity of Expo '77, West Africa, braced the region for a future which included single currency

 

money – at the chief argument of the commentators and chosen heads from the exposition in TOGO,

 

but did not incorporate the price of that economic banter, for instance, debt across the border,

 

problems of credit and the issue of acceptance in the Global economy.

 

 

 

We need here to rehearse some of the teachings and assumptions in this piece that one, Nigerian Oil

 

Subsidy, ECOWAS; Economic community of West African States, Government policies driving currencies,

 

SAP; Structural adjustment programs, WAI; War against indiscipline, Better life Program, 1986 Austerity

 

Measures, Privatization Scheme, Removal of Crude oil Subsidy have all come and gone but IMF has still

 

tied the country's future to these schemes and to Debt that don't count as a credit and has forced

 

Nigeria and some West African countries downward with its policies, policies that even a progressive

 

third world economy like Nigeria, can no longer absorb.

 

 

 

In Nigeria and in West Africa these days, we hear of the 'Millennium Development Goals', 'Privatization

 

Schemes', 'Balance of Payment', 'Austerity Measures' (removal of oil subsidy), 'Foreign Direct

 

Investment', IDAs, FDI; Foreign Direct Investment', 'Debt Crisis', but all of these are IMF measures which

 

Nigeria that is U.S centered has no real party. But these Schemes exist today and part of the Obasanjo’s

 

7 point policy and part of Nigerian politics and part of the Nigerian running of their plans for BETTER

 

LIFE. It involves a kind of budget expansion which the switch in the process essentially combines for the

 

best of the process or transition from the process.

 

 

 

The problem with this budget expansion is the issue of long term investment, the Vanilla for instance

 

that Oscar Onyema was selling to Nigerian and Foreign Investors, and the attention to long term bond

 

that NEPA, GEJ and Aganga (the other bishop) of GEJ’s financial starship were marketing to the world

 

could not have survived the heavy and overlooked price pressure from bank stocks given the debt to

 

investment which forex normally stall, or given the widening gap of Nigerian economic depression or

 

newly privatized economy based on their local rate of return other than Gross Domestic Product which

 

adds FDI to it as opposed to VAR and housing index.

 

 

 

The debt to investment will stall and will continue to widen and Nigeria will never get to it or get over it.

 

To understand the problems of a third world transitional processes involving in leading a local economy

 

from poor urban environment to a more technology based economy, we need to demarcate between

 

the issues of GDP and GNP which due to additional foreign investment, widens, excretes good numbers

 

to the rest of world, rebase, or debased processes, but above all, it is a paradox of the local economy….

 

This better life the case of Argentina and Mexico, like Brazil of the 70's and Korea of 70’s will not be

 

achieved under these programs that are run by IMF. Part of these measures is that it leads to something

 

when benefitting, and we are tempted to ask how can a transition from one program to another take

 

place, for it seems that the process of Free Trade agreement exercising itself in Europe and now the

 

North America operates, usually leads to the lands of regional exchange and single currency. Not before

 

the wasting and rubbishing of the local currency and economy making it easier to penetrate or exploit.

 

In proper light, the measure at work is similar to EU, compared from every angle; it is similar to the

 

future ideas of regional government and higher penetration of existing Companies.

 

 

 

Nigerians has been forced to blend in to the fact that there is a New World Money Order called Euro.

 

There is nothing wrong in accepting the doctrines of European Union and it does not seem that the

 

policies pursued by Europe are as bad and misleading policy. Yes, some versions of the policies are

 

desperate conceived for Third World economies or whatever name that is applicable and in terms of the

 

quality of European Economy and its no-grow economy, these IMF programs and loans are very not

 

called for and are basically predisposed to debtors damages.

 

 

 

The trick of this process is that a poor execution procedure in narrating Harry Johnson’s account from

 

the new reality of Mundell regional currencies, give and take on one critical aspect of all these schools

 

and perhaps why the systematic argument of the quantity theorist may not fully apply unless as I

 

mentioned from Western Union and Currency wars, that the a single in all its measure of economic

 

value is also a market quantity.

 

 

 

Needless to say that their book raised several questions about the illusions of West Economic Society

 

and NIE 'New International Economic Order' as derived from Europe, questions it did not answer,

 

perhaps better explicated as questions which did not exactly converted for answers.

 

But from the defense pact and from policies prodded by individual Government in West Africa, it seems

 

common sense that the business structure between these West African countries was likely to change or

 

expected to change, so also the structure and business of its local Community and Nigeria is not

 

different. What have witnessed in the last decade or so is that the paper currency and the call for a new

 

Nigeria and West Africa are actually hijacked by private interest from all and asunder.

 

A short précis of Pat Utomi and Madam Ngozi Nkonjo Iweala (II) and the economic fiber of Nigeria was

 

rubbished by cell phone application of process, for if I for one, made the argument in New York in 1998

 

during a small NITEL meeting trying to attract business that the future of Nigeria was cell phone

 

industries not land lines based on the report of cell phone successes in the Low lands of EUROPE or

 

Nordic circle where land lines could reach. A new APP on Africa was also launched and it showed original

 

studies on the need for high tech over low tech even for the once the locals couldn’t afford. It was

 

therefore a waste of time to pursue land lines when the means of communication that made it possible

 

its easier through cell phones. In addition to these ideas, Motorola was making its presence felt in Lagos

 

and to some extent in many parts of Nigeria.

 

Another unraveling of the new age economy of these Nigerians was their film industries which stunt in

 

quality with a shift from….

 

The rest is history which is perhaps in-gathering like Weather Conditions, and many of us may wry a

 

smile since the devastation did not leave us amused at the beginning and may be seen to have

 

completely given the high price and pernicious prices Nigerians were forced to pay for and I seem not to

 

regret that the industries which are so emphasized will pose this unconventional inflationary pressure

 

and problems in Nigeria.

 

 

 

We may argue that the prices of cell phones are lower than ever, but Transcorp which Obasanjo and

 

Iweala including Soludo brought to Nigeria, were so private and privatized that they are probably part if

 

not majority owners of this International conglomerates that acquired NITEL for pennies. From

 

Transcorp we indulge half the argument raised by Soludo and half the issue meted out by Iweala and

 

from the sidewalk of price and price theory, it becomes easier to see why the problems a country like

 

Nigeria is experiencing and why the world – or in this case Soludo should take note in estimating the

 

effects of State imposed transition from State controlled production units to private hands and

 

management in any local economy.

 

 

 

For if we apply some measure of financial processes to this example, we notice the irrational and the

 

human side of money and self-preservation at the center of this privatization scheme. No true economic

 

hitman or woman will fail wring the neck of these noise making Nigerians and without their knowing it if

 

the seating Government such as Obasanjo and his compeers will be enticed to a 7 point strategy and

 

they will fail. The dark side of such a scheme is that Upper House Theater is created, a vacuum system is

 

generated and by selling a mere idea that moves business into your hands as the seating president or

 

governor, will compel you and your company to defend this upper house problems of price theory. In

 

terms of the rubbishing of Nigerian economy in the earlier years of the cell phone industries for a start,

 

it is the price of supporting your lifestyle in Nigerian that suffered the most.

 

 

 

With direct protection of these areas of business which was part of the so called 7 point, you offer these

 

mercenaries all the materials they need to essentially rob your country and fleece it dry. Look at

 

differently and not to digress, many companies that made money from Nigerian Telephone industries

 

moved their resources elsewhere almost every month. South Africans made more money from Nigerian

 

cell phones that all the Nigerians companies put together, and these companies charged and bilked

 

Nigerians rejoicing almost detrimentally of their new found connection that they forgot that the

 

resources where already existing, the only that needed to be done, was authorized a protection by the

 

federal government usually when a transfer of power from, military to democratically elected offices

 

take place, and the rest of the reaping was a second matter.

 

 

 

We cannot push the indelicacy of this hit economy called Nigeria to Petroleum, for if we care to look at

 

process involved in emasculating the OPEC out of its control of Nigerian Oil block, or the processes

 

involved in breaking down some of the congestion with Shell which Halliburton did, leaving ExxonMobil

 

in charge of Nigerian resources many oil well South-South of the Country and the boundaries

 

with Cameroons, we find that the profit which are touted from this process of resource allocation to

 

federal purse, are no longer easy to demonstrate and are in fact out of control.

 

 

 

Recently, GEJ asked every group drilling and bunking crude oil from off the continental shelf of the

 

Riverine areas to disembark their boats or have it blown to bits and he did. We measure however that

 

even with the rise of the crude oil prices to 100 per barrel, and Nigeria removing itself cyclical crude oil

 

subsidies; meaning, Government has to subsidies on the price of crude oil as a way to easy off the

 

problems of inflation which a rise of crude oil prices or even a market level perorate prices entering

 

public consumption creates the problem of continuous disequilibrium ----usually private decision

 

function based on price theory----but in time past, with hard and fast military whose corruption was not

 

something dissimilar, the country was paying too much and essentially wasting it as opposed to saving

 

some of the money for latter day or macro government (increasing consumption budget) by definition,

 

which Madam Ngozi Okonjo Iweala, argued in the interest of Nigeria and fattening the saving purse of

 

the treasury, which in the end, may lead to more government spending than the unconventional tactics

 

of inflation control.

 

 

 

For a point, this subsidies are probably not necessary yet on the same point, removing the subsidies is

 

torturing the bond market, which naturally offload investment from long term comfort and

 

sustainability to short term – placing a separate funk on the Stock market, whereas momentum shift the

 

emphasis of growth to paper currency, shadow banking and inflation in the country especially at the

 

time of easy money. We may also come to understand the shift at this level occurs when a housing

 

number shoots ahead other CPI measures in the country.

 

 

 

For if we care to look at the poverty level in the Nigeria, we may notice a bipolar trend, one, a shrink of

 

populist idea of poverty; there are more Nigerians with houses than ever and more Nigerians with cars

 

than before and cell phone to booth, but the laxity of economy survey gives way to more problems

 

overall economic growth which is implosion of Nigerian mid class and shocking debasing of its quality of

 

life. In some sense, most Nigerians are actually starving from even the most available of resources than

 

ever before, yet compared to poor examples of market resources like we have in Lagos and we have in

 

Abuja with oversea dumping of resources in Nigeria more than anytime, you are likely to accept there is

 

emergence of a 1% population in Nigeria with all the money which will not buy much still, and the big

 

gulf of proper and green market in Nigeria given the deepening crisis which is gradually coming.

 

The open market manages by either Nigeria or Ghana in this case, is such that they deserve more for

 

supporting world markets more than half Europe or even United States let alone China is enjoying.

 

Nigeria toes the free market line from day one and has been a victim by its own choosing of

 

international dumping and foreign investment interest. A rule of comparative advantage between

 

Nigeria and the rest of Europe, will point that majority of European countries are well ahead of these

 

Nigerians. This is in fact the case only to the extent that total amount of Nigerians (170 million) is nearly

 

two fifth of all Europe, means that there are more mouths per country to country to feed as there no

 

European country with over 120 million people. It leads that the weight of resources that circulate in

 

Nigeria is a thrift sum compared to what is available to them through their own oversea and in land

 

business exposures. The only way to help these Nigerians help themselves and in the end help their

 

respective nations which these European countries are doing is to have Nigerian financial institutions

 

posed after the general but advocated and independent financial institutions in these United States and

 

in Europe.

 

 

 

No great commission is needed to demonstrate the profit of South African economic agenda for US and

 

its Global Initiative, than the biggest banks in Africa are easily South African and operate free from the

 

Government. Either the current crop of these Nigerians and financial leaders are not used to trusting

 

others and themselves to be selling only a Billion over the Stock bound bond market which was called up

 

in one hours of meeting the market, than the possibility of really connecting to US through a

 

demarcation of 25% earned resources from Crude Oil and from other business banter between Nigeria

 

and United States.

 

 

 

It is my view, that all African countries should have at least by now account for at least account for

 

banks that are self-supporting, with gravity of currency schools capable to weeding through the

 

securities laden American market necessary to be part of Federal Reserve of a local network such New

 

York Federal Reserve. In the case of advertising their investment options, the Maryland and Baltimore

 

securities dealers with the Federal Reserve are mainly insurance based and contain a few African

 

American owned financial institutions, but from the histories of both Continents of North American and

 

Africa, there should at least be now several securities from Africa and more than two from leading

 

economic communities in Africa; Nigeria, South Africa, Egypt, Morocco*, Libya, and others such Ghana,

 

to have a staying presence in each of the securities dealing Federal Reserves throughout the US and in

 

UK for a Start. Such business venture like those of BAFTA, CAFTA, or NAFTA, with the edging up of the

 

Banks and financial institutions have a thing or two about the FOMC which Nigerians thanks to free

 

network resources are following on daily basis, that the number of even African American businesses

 

present in these areas of interest would not survive more pressure saving these invested interest from

 

Africa and Caribbean make their presence known and ruthlessness for business and accounting also

 

known.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

End notes on OBJ

 

Looking at this picture very closely, we may be tempted to say, this group can't Nigeria.

 

By

 

Sampson I.M Onwuka

 

February 16th 2015 is a day of political infamy for Olusegun Obasanjo, perhaps not for people too young

 

to come to understand why his actions were seriously detrimental to his political life, it was an end he

 

didn't anticipate perhaps kept as a last minute attempt at Goodluck Jonathan and for stabbing PDP.

 

With this action which his association with APC in 2013 was not exactly a publicly surprise, pray will

 

never come when a political Iroko such as Olusegun Obasanjo with all the questions about his past or

 

history will end with a Political suicide.

 

 

 

Either age has gotten the better side of his judgment, or his ill-advised on this particular move, or

 

perhaps such acts are product of the end, we prove Friedrich Nietzsche correct that our character the

 

source of all pedigree shows up in the end,"...a man understands nothing but himself." This final acts of

 

sabotage is the summary of OBJ's political and military life. He may or may see it now, but then he is

 

active in his more genial years, he is said to be less troubled with his past, he is alive they say and

 

needed to be supported. For his benefit so many lives were lost and the easy break with affections

 

makes him incapable of enduring loyalty.

 

 

 

It was PDP and Alex Ekwueme, Ebitu Ukiwo, and others who arranged his release from Federal

 

protective custody in New York, and when he was released in 1997, it was PDP and mainly Igbos to be

 

sure who embraced him and welcomed him at the consulate. His face was dry and hungry looking, he

 

lost many years following the incarceration, he was involved in a coup against Abach and it worked

 

against his interest. It is also the end for Buhari for so it seems that Buhari was innocent of this last acts

 

of betrayal by Obasanjo, his silence till the end describes the persons of Buhari as not so much a

 

moderate as he is prudently a calculating man and was therefore involved in the military takeover of

 

1983. Obasanjo on the neutral position did his greatest damages on Jonathan by carefully destroying his

 

credential in clear and destructive spite, may seem to the rest of us that he has already decided to

 

support Buhari since 2013 and was only delaying these final acts.

 

Someday, he would have wished this action was not taken, for when the death of Muritala Mohammed

 

occurred 1979, Obasanjo like Buhari in 1983 bloodless coup, was considered innocent. In many coups

 

that took place in Nigeria, Obasanjo did not participate in them as they argued, not until his final and

 

unsuccessful attempts at Abacha as head of state was he carefully arrested in Ota farms and imprisoned

 

in Nigeria. He would slipped silently into history had he killed by Abacha during the interdiction. He was

 

helped by Nigerians and by friends such as IBB and through friends of amnesty to travel abroad and

 

when his release from jail became important, Nigerians believed that Obasanjo was the leader they

 

we’re looking for, a leader with military background and democratic leniency. So they waved their

 

commitment to Buhari who was equally qualified and also IBB to elect Olusegun Obasanjo as the

 

President of Nigeria.

 

 

 

The best way to describe Obasanjo’s action very recently it’s that poor judgment and execution of

 

process has finally caught up with him, perhaps this is not the case, but in spite of all that has come

 

down to PDP and tearing his membership card in public, there are heavy consequences of this singular

 

political actions which he should have considered before he took the quantum leap and product of

 

military cadre and a conspicuous assassin in his own right. For one, the Party may choose to indefinitely

 

suspend him or terminal removes him from the corridors of powers for all time.

 

Perhaps this is not the case, perhaps the case is better identified with the issue of Buruji Kasham, and

 

there is nothing wrong in putting…Obasanjo out on the matter.

 

“I’d rather tear the PDP membership card than sit down and let Jonathan use PDP and corruption to

 

tear my beloved country apart.

 

 

 

“I have national and international standard to maintain. For this reason I’d rather standalone than be in

 

the same political party with Kashamu.”

 

 

 

If this is the case PDP should officially launch their own investigation into the incident and public televise

 

the Q and A section. But looking at the hour glass of Obasanjo’s staying power in Nigerian politics, it

 

seems to me to have lacked any genuine issue of national service, it is ridden to political and military

 

intrigue and though he was mentioned in annals of Nigerian revolutionary Army unit called Biafra as

 

junior lieutenant, many of these Coupist in the Nigerian Army and eventually Biafran reactionary army

 

were Communist compassionate handed over to Obasanjo.

 

President Jonathan @ Enugu Rally

 

 

 

Like some Nigerians once said, we are spectators to a period of uncertainty unfolding before us like new

 

tree surrounded by violent and pernicious seas. The Eagle cannot beckon and the falcons have found

 

new homes, only perhaps the ravens may be called to see what future holds, perhaps for PDP, perhaps

 

for APC, yet it signals an end. The primitive issue is not OBJ’s action but how the man’s past has created

 

ripples in the government, that he should be placed on a 24 hour watch till the elections are over and

 

even after given his participation in military coups in Nigeria. Buhari who need not wonder at the public

 

display of breaking bad with a party in display that has never before been seen never before heard.

 

This Act of OBJ is not final, there will be more drama, but with all the final Acts performed on either side

 

of the divide ‘a river will perhaps run through it’, and perhaps the main arguments on the future hopes

 

of this Nigeria, this diorama giant can now begin. Some may quarrel over the boundaries with

 

Cameroons, others the issue of Boko-Haram, some may think education is the primary course of

 

Nigerian future. All of these are equal to one word; poverty.

 

 

 

How do you describe insecurity of poverty from false progress in Nigeria? Should we start from the

 

beginning of the end of the Colonial Rule in Nigeria, which some considered an occupation which the

 

people did not ask for? Or do we start at the end of the hostilities in the Civil War? Perhaps the grand

 

patina of a society bedeviled by its uncertainty, made its means and ways seemingly uncertain. Such talk

 

may now seem idle, and it is perhaps idle to court such possibility of change for it seems it.

 

It seems clear that our people were not expected by others to have done otherwise as a country. But

 

nothing in this God given land called Africa and very own Nigeria, has ever being won or accomplished

 

without struggle, nothing was won without endeavor and without a devotion to the higher calling. If

 

these same virtues mentioned above are known through history to have exceeded the demands of

 

poverty - it cannot all of a sudden fade or fail for these Nigerians. These were the product of faith.

 

That faith now compels us to face to the facts of our poverty and irrelevance as a new round of scramble

 

begins for Africa. That faith must therefore be proved among these Nigerians by those who their sons

 

and daughters look up and call fathers and mothers. That country was never that different from the rest

 

of them and their love for their Children were not fake, and not a lie. That faith must be kept alive that

 

by our efforts and struggles that by those virtues which once consumed the rest of us in Nigeria, would

 

by its undying demand prove that its rewards higher than all the tribes combined.

 

 

 

Only then can Nigeria prove its meaning in the world and redeem itself from sinking downwards. How

 

we, the Nigerians, the Africans feed growing 170 million demographic starved of housing and purpose,

 

and to some degree hope. Perhaps we can believe like others that the division in the parties and the lack

 

of inspiration for the elections 'will also pass' then the new issue of growth and new realities of stable

 

government will become perhaps a second matter.

 

 

 

The New scramble for Africa may have started without our knowing it. Africans are still feigning sleep

 

from the poison of the previous European enterprises in their backyard but they are not aware that their

 

lands are gradually and criminally taken from them. They are also locked into a fighting for their future

 

which is gradually stymied by Africans themselves. They are at war with African of the past and the

 

legacies of the big man or woman of Africa, acting perhaps with the knowledge of local Chiefs. With OBJ

 

and Buhari still in corridors of power and IBB looking to return, the challenge of this day it’s how

 

Nigerian can break with the past, not only how, when and for how long.

 

Africa needs a President and by consequence the Nigerian President is the man to whom much of Africa

 

is most affectionate. Even if we say that Charity begins at home, we are not saying that a Portrait of

 

Nigeria and its president should not be devoted enough to his duty as to absolve the headache of being

 

beneath suspicion. And to use Julius Caesar immortal epitaph, that The Nigerian President is "beyond

 

suspicion" and in terms of OBJ, a head of state or a former head of states, should be free from public

 

contamination.

 

 

 

The challenges come from all over and bring in their paper currency to buyout huge and wonderful

 

places in Africa. This sort of thing reminds of the time and days of the apartheid system in South Africa

 

when it took Nigerian President to ask Britain and America to end apartheid else the oil business will

 

end. International Law coalition, International Institute for Environment, UN, have all stated that African

 

countries such as Sudan, Kenya, Nigeria, Tanzania, Malawi, Ethiopia, Congo, Zambia, Uganda,

 

Madagascar, Zimbabwe, Mali, Sierra Leone, Ghana, are places where cronies are gradually expropriating

 

and many of these places they are in state of limbo.

 

 

 

Obasanjo’s action is not meeting for the portrait of a Nigerian President, official destroying his PDP card

 

was no only injury to the system he attempted to create but did not, and it was a sad example of politics

 

ultimate attempt at sabotage which he will wish in later years he didn’t perform. But the country is

 

ridden to this discharges, may decide to elect people of their interest and time, may choose to do so on

 

no other count except Only then can the 'evidence of things not seen' - the hope of 18th century Black

 

leaders-whose influence on Ajayi Crowther, Edward Blyden, Johnson, Herbert Macaulay, W.E.D Dubois,

 

George Padmore, Paul Robeson, Kwame Nkruma and above all, Nnamdi Azikiwe, for the independent

 

Africa capable of retaining the unbroken chain of endeavor, of the old torching the new, be fulfilled in

 

their dream nation; Nigeria. Such endeavor should lead us to believe that poverty can be defeated in

 

West Africa. That 'evidence of things not seen' which connect the Old to the New - that invisible bond

 

which has held this Africa before the formative structure of Nigeria, this West Africa country together

 

for so long – CANNOT now untie. In electing a president of equal and unquestionable character, we bury

 

the past, how that past defeats our current manners it's a question of choice, equal to the redeeming

 

burden of carrying on in spite of it all and carrying through the elections in spite of it all.

 

WE THE AFRICANS, Peoples of the world.....

 

S.I.M.O…

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Feb 3 2015 ---Buhari For President.

 

By

 

Sampson I.M Onwuka

 

The aim of presenting APC’s candidate Mohammadu Buhari in the light of current national discourses is

 

to show that he is serious about his Presidency that he is a capable man for the office as much perhaps

 

as anyone running for the office of Nigerian President. He is for the office of Nigerian President along

 

the Professor at Law, Yemi Osibajo. The financial weight lifting has come from several places, but in

 

terms of the intent of the man in office and the aspirations of the North in what may be considered an

 

unfinished business of the 85’ coup, there is a question of Buhari and what he really is.

 

There are lots of issues at stake in Nigerian elections and one of which is the issue of security which

 

under Buhari as Military Head of State of Nigeria from 1983 – 1985 was performed to the point of

 

denying people’s rights to free existence. This freedom understood from the perspective of a soldier has

 

limit applicability, especially when Buhari is involved, he, more than any active Nigerian politician and

 

perhaps IBB, has been involved in all classes of Nigerian military and political transformations and

 

perhaps baying for a legitimate opportunity from the wealth of his experiences.

 

 

 

Buhari has not done himself any good since the 1985 ousting from office by Ibrahim Babangida who was

 

the minister of defense. He does appear to be politically anti-social or seem to be a person who will

 

feign from helping who can help, or has been known to lack personal audacity. But in the years of

 

isolation from office and from Nigerian military apparatuses, he is credited to have taken himself and his

 

family away from politics, whereas feeding his family would be considered a national item, there are less

 

culpability that he has benefit from office than others. It was only recently and following the adoptions

 

of the Nigerian Girls at Chibok by Boko Haram or Islamic tyrannical groups that we find him publicly

 

inveigh extreme militancy.

 

 

 

It seem to me at least, that this lack of writing and publicity appearance and engagements, is what GEJ

 

has discovered long ago to be a cog in his wheels of progress. For sure, a dispassionate observer will tell

 

you that Buhari has no reason to expect votes from a population he is not willing to indulge in any class

 

of discourse or at least socially engage in spite or for spite of his image and self-respect which is really in

 

actions and not in its preservation.

 

 

 

Lack of personal confidence and vista of corrupted eye visions from military and northern Nigerian past,

 

may have given new and perhaps psychology restrictions of Buhari is his reaching out and in to Nigerians

 

far from North or Nigerians in the North if so chooses. No one in the last 30 years of end of affairs at

 

Lagos and Abuja could be said to have toed the discipleship of Buhari, or have himself rewrite his life

 

through the dark and uncertain waters of West Africa. One man that understand the circumstances

 

surrounding human power and its ability was Obasanjo, an ex-President of Nigeria, who in spite of mud

 

and foot of clay in making even based decisions of the country, can still win votes in the North and the

 

East, that he is occasional involve in one show of support for Yorubas – his people and for other West

 

Africans spanned through the continental shelf.

 

 

 

Perhaps, conscientious participation is the ire of responsibility, but we can guess that within its garment

 

of humility may swell the hints of pride which is perhaps rots from lack of oxygen the very tree it

 

protects. For what it destroys it’s the reassuring that a white cloak can be stained in the service of others

 

then preservation becomes a motivation. In divided meaning, perhaps a second or third meaning, the

 

willing to do what is right is not a personal property; it involves some act even when there is a stake of

 

your personal integrity which is usually less good than active participation in any endeavor of your

 

existence. It may suggest a kind of faith in a system or in people who can exercise wisdom or so

 

expected to do the right thing even it means losing the elections. If we have no faith in others or no

 

form of connection to their request we created a hole without knowing it, and at inquest as for voting,

 

we have lost the fans and general citizen. Images of loyalty and common sense would gradually worth

 

nothing and in the end, such persons as Buhari can be excused in the altar of presidential elections or

 

given his chance to try. It is a valid point given the strategically unlevered strategy for securing a

 

people’s vote is in its working process and not in its overnight sensation, in essence, other methods of

 

seeking votes may apply, to the extent that enough gaps exist between say the Nigerians and Buhari

 

courting their votes, you may have lost the future altogether.

 

 

 

Boko Haram cannot serve as the mantra to gauge the limits of a Buhari in office, yet it is a Vernier

 

caliper in breaking to rest some of the problems encountered by these Nigerians in dealing with Islamic

 

Insurgency. For Buhari, who may or may not have known about the incident of the Boko-Haram since

 

2001, that the group remained a sect for their right, seeking to emasculate the popularity of new isalmic

 

conformist and pushing to transform the North into a political anti-party to currency available anywhere

 

in the Country, described by some as religious institutions in forms and names of revolution. The failure

 

of Buhari to have taken the mantle of leadership in suppressing the dicta of Boko Haram exposed to

 

daggers of being a sympathizer, a claim which remains ominous of his religious impresario, that from all

 

acts performs during and after his 2 year in office still exorcises the apparitions of the terror even it was

 

not nearly the case.

 

 

 

We are looking at the edge of the deciding political force whose sun has no being let to shine, for yet a

 

consideration of the nearly acquired meaning is given to this man and his office so far, we would have

 

not failed to whispers of a struggle to exert himself if a career that was no meant for him. Politics like

 

engagement it’s a career, and pursuant to the meaning and reward and fulfilling of those is the lack of

 

debility of the sun. Was his light to shine in politics perhaps it would make some sense when compared

 

from the premise of his years in office?

 

 

 

Was it Buhari’s luck to advance against a PDP political machine, perhaps it was, most perhaps it was

 

not? How then shall we begin to present an argument on Buhari as a political force whose gravitas can

 

fetch the presidency, perhaps he is not a political in career sense of it, perhaps he was part of encyclical

 

that determines the dimension of revolutions in any society. Played backward, Buhari would not suffer

 

his career to be understood in the light of a people that see him different, for if the calls of Sarduana of

 

Sokoto for the new and young co-operative cadre to improve the new look of Muslims.

 

 

 

BUHARI may be argued to have made more public condemnation of militant group ‘Boko Haram’ and is

 

said to have officially condemned some of the assumptions about the State of Northern leadership and

 

the interpretations of Islam. It must be clearly stated as well that Nigeria in terms of the resources

 

available to it and the sensitivity to power deserves all kinds of considerations on who is really working

 

for the interest of Nigeria and can be trusted with such powers. With or without invoking the past which

 

taints Buhari in association, the military years during the Nigerian Coups and counter-coups in Nigeria

 

are no product of personal consideration, they are facts of life.

 

 

 

Since independence, Nigeria still grapple with image and play with straw on the images of a nation

 

trying to get a grip of itself, it needs not be mentioned that Nigerians and indeed many Africans are

 

looking to forget some of the names that made to the office of the President. Among the names

 

Nigerians need to forget; Sani Abacha, Ibrahim B. Babangida, Theophilus Danjuma, includes now and

 

perhaps for other reasons, Mohammed Buhari. History is fortune to those who remember and those

 

who observe, but no eye witnessing of exfoliating of the political years of Buhari would have prepared

 

any Nigeria for the problems of Boko Haram, an insurgency that rings through the fears of the intifada

 

between the North and the South, though the sea has thawed and day breaks for Nigerians and their

 

politics, historians struggle and will perhaps struggle to vindicate Buhari on his excellent services.

 

It will impossible to deny that for nearly half of a century, these names mentioned above have not more

 

than occupied the central position of Nigerian politics, for better management and not lack of goodwill,

 

their administrative comradery nearly sunk Nigeria into abyss of incompetency and confusion, riddled

 

piece by States with confusion and poverty. Instability is the root of all confusion and more than

 

confusion is the issue of uncertainty, uncertainty welcomes the move to secure a future through a past,

 

perhaps through wealth already stored or through public funds and embezzlement. If the military

 

intervention was set to sponsor the culture of stability in Nigeria, this primary duty of the Nigerian

 

military could not be said to have worked its magic in the military years or could be said to have

 

engineered a future that puts Nigerians first.

 

 

 

Politics away from power is a nuisance take of a great unraveling, it is fitting to demarcate between

 

intellectual pursuit from the aggrandizing that ends with no advances for or against the interest of a

 

motion. It is political to argue for Buhari, political to argue against Buhari, much more political to vote

 

for either Buhari or against Buhari, perhaps voting against the opponent is one way to widen the broad

 

stroke of voting landscape. It is not enough to vote for any man or woman interest of choice, it looks

 

plain enough, that a vote one direction is equal to a vote not in favor of another.

 

 

 

Perhaps their priorities were misplaced for how a new nation could arise from the old without the

 

difficult challenges of the Chiefs and loyal yeomanry, and the problems of religion and rights of

 

leadership which for some Nigerians was gifted and donated by bloodline and for others profusion with

 

the new arrival from Europe and nothing else. Perhaps and only perhaps when these facts and religious

 

rights are placed within the definitions of property places more faith on wealth, personal wealth above

 

the property of national interest becomes primary. This is a systemic problem made more sinister with

 

the age of military powerhouses (Dinka, Murtala Mohammed, Gowon, IBB, Abacha, Buhari) baying the

 

loss and death by murder of their leader by Amadu Bello who was the Sudauna of Sokoto.

 

To some extent that many Nigerians are no longer willing to accommodate the past – even for the best

 

of us that still write back to the empire on the merits of a new society and the rewards from experiences

 

which Buhari could bring to the Country. We were wrong about Obasanjo and his military and

 

intellectual reserves for Nigeria, his suppressed personalities during persecution eventually showed up

 

and we have inherited some of the problems on his administration which brought the new age of

 

militancy in the North and the renegade self-defenses in Riverine Areas of Nigeria. In South East and

 

ever so slightly, the victim of these years and Obasanjo unleashed his pejorative behaviors towards

 

Nigerians who were fooled into consolidation and Aba for the fun suffered in quality and in business and

 

inherited the issue of kidnapping and reparation which was never part of its existence.

 

 

 

It is this fear of who and how Nigerians preserve of this Buhari, whether or not he seem to have been

 

cleaner and fairer than his compeers that motivates them towards a fear which then as well now is not

 

unfounded. Perhaps this is not the case in many parts of the Nigeria especially in the South East, but

 

little has been done to earn the rights of GEJ re-election in many South East let alone South-South, does

 

not mean that other parts of the Country is not working hard and less demanding than they, but there

 

are long standing issues that has not died and need to be handled as a way to bridge the gaps between

 

the problems of governmental gangsters and the issue of the self-defense which MEND brought itself to

 

bear.

 

 

 

Amadu Bello presents an inquiry and antiquary into private and personal motivations of Buhari, for in

 

terms of the man, the meaning and age of corruption, some argument may be made against the long

 

and intermediate lines of Amadu Bello, who was Sarduana of Sokoto. The problems between him and

 

Nnamdi Azikiwe and the contentious issues of power and failure of the North to recognize a leader from

 

the South or the East on the premise of religious devotion of a Muslim who considers the other as

 

Infidel who should not dictate to the Muslims on how to manage their country. This cannot be argued as

 

the total reason for Nigerian Military intervention, or that Nzeogwu commitment was not without the

 

sacking of rail road workers under the orders a young Northern Nigerian leader, leading to a prolong

 

unemployment and early death of his father.

 

 

 

‘Once There was A Country’ (2012) by Chinua Achebe did not emphasize the total damage this ideology

 

brought to Nigeria, the book levitate on the influences of Amadu Bello among the Ijaws where they

 

were split between the loyalty to Nigeria and the first Coup of 1966 which saw the death of Amadu Bello

 

and on the other Northern reactionary tendencies that mitigated the power complex of the mostly but

 

consequentially Igbo-led military coup and administration in Nigeria.

 

 

 

Re-considered from elsewhere, between Joseph Akpan and General Gowon, we can understand the

 

attention of why Amadu Bello inspired hate and love is in-between the Civil Wars. Some MILITARY

 

experts, including my own dad, described the counter-reaction as almost inevitable, that the North was

 

not buying the peace which General Aguiyi Ironsi was working for. Information suggested that Amadu

 

Bello was pocketing money sent by international organization in his Geneva accounts managed by

 

International Standard Bank, that after his death, the Lebanese who worked Sarduana split the earliest

 

Nigerian Federal Accounts including members of the army that was loyal to him.

 

 

 

This story is confirmed elsewhere ‘Hot money’ (82), but concerning these men as we come understand it

 

who includes IBB, Buhari, Abacha, Mohammed, and the rest, produce a long picture of why corruption in

 

Nigeria remained a foreign legacy and the deep penetration of Lebanese in Nigeria, especially their roles

 

in exploiting the Niger-Delta and Foreign Federal Accounts, is evident in the death of Ken Saro Wiwa

 

during the era of Sani Abacha.

 

 

 

We can now supply the answer to some of the issue of Nigeria and corruption during its oil boom,

 

between the Persons of Buhari and IBB, that it was part of the problems constituted systemically from

 

the early political years of Nigeria which many still harbor suspicions that it is still in many ways than one

 

very visible in the life and existence of Buhari who is a last trace of older regime. The Country may have

 

gotten over these early beginnings but the language of peace and comradery between the North and

 

South, especially the old East has no produced nothing but unprovoked aggression that the Northern

 

Nigeria has never understood a society that is ruled by force is a virus that Amadu Bello should have

 

buried and killed, and he didn’t any more or less than perhaps Buhari who is not Amadu Bello.

 

There are approaches to power to be given the total and more demanding interpretation; there are very

 

little gaps between gangs and hoodlums, between the Military Cadre of most auspicious type and

 

problems of Boko Haram and in limelight, the examples of Riverine reactionary group who took the

 

amnesty from past Nigerian President. Digging from recent insurgencies in the North which has no merit

 

towards disposing political transformations from the North as from the aspirations of these Northerners,

 

such military excesses means harm to the chances of winning the Country for the North as part of the

 

negotiated interest of Islamic Insurgencies in Northern Nigeria. But if we place the onus on this act from

 

incidence involving Buhari and the Northern Nigerians, we are victims of our imagination and hopeless

 

in so far as the wish for a better Nigeria is considered. Yet this disposing of the second meaning of

 

electing a APC candidate tainted by the past, leads closer to the temptation and judgment of considering

 

a possible future from personal and individual complexes in Nigeria.

 

 

 

 

 

Charles Soludo recently admitted that, “I note that when I assumed office as Governor of CBN, the stock

 

of foreign reserves was $10 billion. The average monthly oil price during my 60 months in office was

 

$59, but foreign reserve reached the all-time peak of $62 billion (and despite paying $12 billion for

 

external debt, and losing over $15 billion during the unprecedented global financial and economic crisis)

 

I left behind $45 billion….My calculation is that if the economy was better managed, our foreign

 

reserves should have been between $102 –$118 billion and exchange rate around N112 before the fall

 

in oil prices. As of now, the reserves should be around $90 billion and exchange rate no higher than

 

N125 per dollar. Third, the rate of public debt accumulation at a time of unprecedented boom had no

 

parallel in the world. While the Obasanjo administration bought and enlarged the policy space for

 

Nigeria, the current government has sold and constricted it. What debt relief did for Nigeria was to

 

liberate Nigerian policymakers from the intrusive conditionalities of the creditors and thereby truly

 

allowing Nigeria independence in its public policy”

 

 

 

“Shagari’s NPN had already run out of steam and was near universally detested except of course by the

 

handful that still benefited from that regime of profligacy and rabid fascism. Responsibility for the

 

national condition lay squarely at the door of the ruling party, obviously, but against whom was Buharis

 

coup staged? Judging by the conduct of that regime, it was not against Shagaris government but against

 

the opposition. The head of government, on whom primary responsibility lay, was Shehu Shagari. Yet

 

that individual was kept in cozy house detention in Ikoyi while his powerless deputy, Alex Ekwueme, was

 

locked up in Kiri-kiri prisons. Such was the Buhari notion of equitable apportionment of guilt and/or

 

responsibility.” Wole Soyinka in an interview in 2014 as re-iterated in a January 2015 interview. Did

 

Wole Soyinka mention some of the atrocities against the political interest of proclaimers of Biafra

 

Republic, even if it was a motivation (movie) for something interesting, some of the leaders of the Biafra

 

Republic were killed and maimed during their meeting, and Professor was cast into a long spell of

 

Uwechue detention? It is understandable that people should not call for a different nation if that’s they

 

did, rather having a form of reasonableness of administrative of office is still a conditional process that is

 

perhaps still questionable but does not call for lethal actions. Under Buhari we could speak of welfare

 

state or its origins, and like the Americans they was “war of poverty” “war against indiscipline”,

 

propagandist education for all between 1983 - 1985. There was a form of reconnection to Gowon with a

 

measure of authority but it looks as if the plan to transform into a Socialist or Communist economy

 

somehow lingered in your administration. This was the real fear and not the second most dangerously

 

crime against a society which the military take over on Civil society.

 

 

 

For strong leadership it is impossible to deny that Mohammad Buhari is not a preferred choice over

 

Jonathan, and for economic prosperity and the issue of discipline, Buhari will go down as one better

 

Nigerians to have managed the Country. Does that mean President Goodluck Ebele Jonathan it’s any

 

weak. He’s NOT, his strength however shows up in different forms and less interesting places such as

 

Campaign for office. If half of the energy is applied to the problems Nigeria is facing, he would emerge

 

the best president of the Country yet.

 

 

 

At least, the dictatorial leaders of Buhari is not so much a factor as the issue of actual military coup in

 

Nigeria where he placed the President and his vice in jail and indefinitely. In some measure of academic

 

reassessment of Buhari during his period office, there was a hint of remonstrations among the Nigerians

 

on corruption. As such we could be tempted to separate facts from process, that the gaming of Soyinka,

 

 “Those who are intellectually Blind, (2) those who are blinded by ethnicity (3) those who are blinded by

 

corruption and therefore afraid of the unknown; should power change hands, and finally, (4) those who

 

are suffering from a combination of the above terminal sickness.” While those who are reading from this

 

attack will not fail to recognize the persuasion from parsimony or the politics of the late 70’s and early

 

80’s we suggest that historical re-enactment of this era, cannot show how the injuries of the Civil War

 

impregnated the understanding of Soyinka or how the whitening of his hair by age and its phenomenon

 

has labored his reasons.

 

 

 

But he is usually right, for how could anyone forfeit a two year incarceration for his opposition against

 

the activities of the Nigerian Army in the Eastern Nigeria. If as the saying goes that ‘the man died’, it was

 

not for the freedom that Democratic freedom brings to Nigeria but perhaps for his two years of

 

incarceration by mostly Northern Nigerian Army. Elsewhere, the question on who really put in jail and

 

why it’s still a hung jury, but of course these forces parade the remaining days of his active life, perhaps

 

like someone’s favorite quote from Soyinka’s book, that “The man dies in him who keeps quiet in the

 

face of injustice.”, Soyinka, speaks perhaps his mind on Buhari, vaunting against his political

 

campaigning and Buhari’s voting chances. Perhaps, now unlike then, we consider the dispatch from his

 

youth as an essential canon, no more relevant than the person who becomes president since ‘the ends’

 

in office justifies ‘the means’, therefore the history of the persons of authority may assume a new and

 

fatal meaning when placed in that office and not the other way around it.

 

 

 

Such a position can actually change anyone and power explains its origins in the vessels that wills it and

 

not by appearance like David and the seven sons of Jesse in nominations by Samuel. To be Frank, what is

 

going in the Country at this point it’s beyond the badge that we should place on Buhari? It does not

 

mean that he is a right choice or the right, it does explain why President Jonathan is the right choice

 

either, and it gives meaning to the Buhari year’s 1983-1985 and GEJ’s of 2000 – 2015

 

Olusegun Obasanjo

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By

 

Sampson I.M Onwuka

 

February 16th 2015 is a day of political infamy for Olusegun Obasanjo; perhaps not for people too young

 

to come to understand why his actions were seriously detrimental to his political life, it was an end he

 

didn't anticipate perhaps kept as a last minute attempt at Goodluck Jonathan and for stabbing PDP.

 

With this action which his association with APC in 2013 was not exactly a publicly surprise, pray will

 

never come when a political Iroko such as Olusegun Obasanjo with all the questions about his past or

 

history will end with a Political suicide. Either age has gotten the better side of his judgment, or his ill-

 

advised on this particular move, or perhaps such acts are product of the end, we prove Friedrich

 

Nietzsche correct that our character the source of all pedigree shows up in the end,"...a man

 

understands nothing but himself."

 

 

 

This final act of sabotage is the summary of OBJ's political and military life. He may or may see it now,

 

but then he is active in his more genial years, he is said to be less troubled with his past, he is alive they

 

say and needed to be supported. For his benefit so many lives were lost and the easy break with

 

affections makes him incapable of enduring loyalty.

 

 

 

It was PDP and Alex Ekwueme, Ebitu Ukiwo, and others who arranged his release from Federal

 

protective custody in New York, and when he was released in 1997, it was PDP and mainly Igbos to be

 

sure who embraced him and welcomed him at the consulate. His face was dry and hungry looking, he

 

lost many years following the incarceration, he was involved in a coup against Abacha and it worked

 

against his interest.

 

 

 

 

 

It is also the end for Buhari for so it seems that Buhari was innocent of this last acts of betrayal by

 

Obasanjo, his silence till the end describes the persons of Buhari as not so much a moderate as he is

 

prudently a calculating man and was therefore involved in the military takeover of 1983. Obasanjo on

 

the neutral position did his greatest damages on Jonathan by carefully destroying his credential in clear

 

and destructive spite, may seem to the rest of us that he has already decided to support Buhari since

 

2013 and was only delaying these final acts.

 

 

 

Someday, he would have wished this action was not taken, for when the death of Muritala Mohammed

 

occurred 1979, Obasanjo like Buhari in 1983 bloodless coup, was considered innocent. In many coups

 

that took place in Nigeria, Obasanjo did not participate in them as they argued, not until his final and

 

unsuccessful attempts at Abacha as head of state was he carefully arrested in Ota farms and imprisoned

 

in Nigeria. He would slipped silently into history had he killed by Abacha during the interdiction.

 

He was helped by Nigerians and by friends such as IBB and through friends of amnesty to travel abroad

 

and when his release from jail became important, Nigerians believed that Obasanjo was the leader they

 

we’re looking for, a leader with military background and democratic leniency. So they waved their

 

commitment to Buhari who was equally qualified and also IBB to elect Olusegun Obasanjo as the

 

President of Nigeria.

 

 

 

The best way to describe Obasanjo’s action very recently it’s that poor judgment and execution of

 

process has finally caught up with him, perhaps this is not the case, but in spite of all that has come

 

down to PDP and tearing his membership card in public, there are heavy consequences of this singular

 

political actions which he should have considered before he took the quantum leap and product of

 

military cadre and a conspicuous assassin in his own right.

 

 

 

 

 

For one, the Party may choose to indefinitely suspend him or terminal removes him from the corridors

 

of powers for all time. Perhaps this is not the case, perhaps the case is better identified with the issue of

 

Buruji Kasham, and there is nothing wrong in putting, Obasanjo out on the matter.

 

 “I’d rather tear the PDP membership card than sit down and let Jonathan use PDP and corruption to

 

tear my beloved country apart.

 

“I have national and international standard to maintain. For this reason I’d rather standalone than be in

 

the same political party with Kashamu.”

 

 

 

If this is the case PDP should officially launch their own investigation into the incident and public televise

 

the Q and A section. But looking at the hour glass of Obasanjo’s staying power in Nigerian politics, it

 

seems to me to have lacked any genuine issue of national service, it is ridden to political and military

 

intrigue, though he was mentioned in annals of Nigerian revolutionary Army unit called Biafra as junior

 

lieutenant, many of these Coupist in the Nigerian Army and eventually Biafran reactionary army were

 

Communist compassionate handed over to Obasanjo.

 

President Jonathan @ Enugu Rally

 

 

 

Like some Nigerians once said, we are spectators to a period of uncertainty unfolding before us like new

 

tree surrounded by violent and pernicious seas. The Eagle cannot beckon and the falcons have found

 

new homes, only perhaps the ravens may be called to see what future holds, perhaps for PDP, perhaps

 

for APC, yet it signals an end. The primitive issue is not OBJ’s action but how the man’s past has created

 

ripples in the government, that he should be placed on a 24 hour watch till the elections are over and

 

even after given his participation in military coups in Nigeria. Buhari who need not wonder at the public

 

display of breaking bad with a party in display that has never before been seen never before heard.

 

 

 

 

 

This Act of OBJ is not final, there will be more drama, but with all the final Acts performed on either side

 

of the divide ‘a river will perhaps run through it’, and perhaps the main arguments on the future hopes

 

of this Nigeria, this diorama giant can now begin. Some may quarrel over the boundaries with

 

Cameroons, others the issue of Boko-Haram, some may think education is the primary course of

 

Nigerian future. All of these are equal to one word; poverty.

 

 

 

How do you describe insecurity of poverty from false progress in Nigeria? Should we start from the

 

beginning of the end of the Colonial Rule in Nigeria, which some considered an occupation which the

 

people did not ask for? Or do we start at the end of the hostilities in the Civil War? Perhaps the grand

 

patina of a society bedeviled by its uncertainty, made its means and ways seemingly uncertain. Such talk

 

may now seem idle, and it is perhaps idle to court such possibility of change (for it seems it/for so it

 

seems).

 

It seems clear that our people were not expected by others to have done otherwise as a country. But

 

nothing in this God given land called Africa and very own Nigeria, has ever being won or accomplished

 

without struggle, nothing was won without endeavor and without a devotion to the higher calling. If

 

these same virtues mentioned above are known through history to have exceeded the demands of

 

poverty - it cannot all of a sudden fade or fail for these Nigerians. These were the product of faith.

 

That faith now compels us to face to the facts of our poverty and irrelevance as a new round of scramble

 

begins for Africa. That faith must therefore be proved among these Nigerians by those who their sons

 

and daughters look up and call fathers and mothers. That country was never that different from the rest

 

of them and their love for their Children were not fake, and not a lie. That faith must be kept alive that

 

by our efforts and struggles that by those virtues which once consumed the rest of us in Nigeria, would

 

by its undying demand prove that its rewards higher than all the tribes combined.

 

 

 

 

 

 

 

 

 

 

 

Only then can Nigeria prove its meaning in the world and redeem itself from sinking downwards. How

 

we, the Nigerians, the Africans feed growing 170 million demographic starved of housing and purpose,

 

and to some degree hope. Perhaps we can believe like others that the division in the parties and the lack

 

of inspiration for the elections 'will also pass' then the new issue of growth and new realities of stable

 

government will become perhaps a second matter.

 

 

 

 

 

The New scramble for Africa may have started without our knowing it. Africans are still feigning sleep

 

from the poison of the previous European enterprises in their backyard but they are not aware that their

 

lands are gradually and criminally taken from them. They are also locked into a fighting for their future

 

which is gradually stymied by Africans themselves. They are at war with African of the past and the

 

legacies of the big man or woman of Africa, acting perhaps with the knowledge of local Chiefs. With OBJ

 

and Buhari still in corridors of power and IBB looking to return, the challenge of this day it’s how

 

Nigerian can break with the past, not only how, when and for how long. Africa needs a President and by

 

consequence the Nigerian President is the man to whom much of Africa is most affectionate. Even if we

 

say that Charity begins at home, we are not saying that a Portrait of Nigeria and its president should not

 

be devoted enough to his duty as to absolve the headache of being beneath suspicion. And to use Julius

 

Caesar immortal epitaph, that The Nigerian President is "beyond suspicion" and in terms of OBJ, a head

 

of state or a former head of states, should be free from public contamination.

 

 

 

 

 

 

 

 

 

 

 

The challenges come from all over and bring in their paper currency to buyout huge and wonderful

 

places in Africa. This sort of thing reminds of the time and days of the apartheid system in South Africa

 

when it took Nigerian President to ask Britain and America to end apartheid else the oil business will

 

end. International Law coalition, International Institute for Environment, UN, have all stated that African

 

countries such as Sudan, Kenya, Nigeria, Tanzania, Malawi, Ethiopia, Congo, Zambia, Uganda,

 

Madagascar, Zimbabwe, Mali, Sierra Leone, Ghana, are places where cronies are gradually expropriating

 

and many of these places they are in state of limbo.

 

 

 

Obasanjo’s action is not meeting for the portrait of a Nigerian President, officially destroying his PDP

 

card was no only injury to the system he attempted to create but did not, and it was a sad example of

 

politics ultimate attempt at sabotage which he will wish in later years he didn’t perform. But the country

 

is ridden to these discharges, may decide to elect people of their interest and time, may choose to do so

 

on no other count except….( that of responsibility).

 

 

 

Only then can the 'evidence of things not seen' - the hope of 18th century Black leaders-whose influence

 

on Ajayi Crowther, Edward Blyden, Johnson, Herbert Macaulay, W.E.D Dubois, George Padmore, Paul

 

Robeson, Kwame Nkruma and above all, Nnamdi Azikiwe, for the independent Africa capable of

 

retaining the unbroken chain of endeavor, of the old torching the new, be fulfilled in their dream nation;

 

Nigeria. Such endeavor should lead us to believe that poverty can be defeated in West Africa. That

 

'evidence of things not seen' which connect the Old to the New - that invisible bond which has held this

 

Africa before the formative structure of Nigeria, this West Africa country together for so long - CANNOT

 

now untie. In electing a president of equal and unquestionable character, we bury the past, how that

 

past defeats our current manners it's a question of choice, equal to the redeeming burden of carrying on

 

in spite of it all and carrying through the elections in spite of it all.

 

WE THE AFRICANS, Peoples of the world.....

 

S.I.M.O...

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

April 2015- Nigerian Sovereign Wealth – Can I explain it?

 

By

 

Sampson I.M Onwuka

 

The new political framework of these Nigerians and the new government which begins May 29th, 2015,

 

may presume to have in its muscles a daunting task of transforming Nigerian economic landscape. But

 

this is not the case, the in-coming administration would have the shovel handed to them, it is really up

 

to the new messiahs to apply the spade astutely in nursing the economic fiber of the country. While the

 

theme of financial transformation in the Nigerian and the wealth of debt in the country from power

 

based resources and deals will not like fracture, it is a very B category Junk bond investment interest

 

given what the country will likely to look like in the ten years. At least some of the men and women in

 

office will no longer be active; some of the principal dogma that has so far defined the economy and the

 

nation may also require additional offer from the government to cushion effects of new era Nigeria.

 

The past-present finance and economic minister Ngozi Okonjo Iweala may be remembered for removing

 

the oil subsidy may be remembered for other incentive involving the NITEL. But there are other legacies

 

such as the Sovereign Wealth and ECA from excess crude profit which from systems lay down by Soludo

 

and Aganga that Madam Iweala is to be remembered. Information released by the board of

 

administration from previous month of March 2015 show a formidable new administrative interest in

 

new Nigerian Sovereign Wealth Fund Investment that she brought into business and into focus. If the

 

finance minister chiefly focused on the idea of sovereign wealth, it would have served as legacy for her

 

years in office and endured longer than issue of subsidy.

 

 

 

Perhaps a lengthy discussion on the need for foreign asset or the need for a credit based economic

 

agenda for Nigeria and Nigerians is necessary and should toe the received lines of reason for a reason

 

reserve of foreign wealth. The relevancy is exaggerated or over-simplified at least without analyzing

 

margin propensity issue----given the frozen desire and trapped momentum and end of flow argument or

 

the existence of debt. Sovereign Wealth Fund is not new to Nigeria and Nigerians, but in the past the

 

Country has suffered from a host of financial necromancy – especially in Switzerland where Nigerians

 

are struggling to keep a new balance despite the autopsy of the financial administration. If the 80's are

 

anything to consider, the idea of raising and exercising pockets of financial influences around the world

 

especially the issue of regulating the currency may bury some hopes of attaining financial success, and

 

this means that Nigerians ought to celebrate the efforts of the financial ministers very well.

 

 

 

According to the statement released by the Ministry of Finance and Economic Planning, “The Chair of

 

the Board is Alhaji Mahey Rasheed, a member of the Board of First Bank and the members will include

 

“Mr Uche Orji, Global Coordinator and Head of US Semiconductor Research and Co-Head of US Tech

 

Sector Research at a prominent global investment bank, UBS has been appointed as Managing

 

Director/Chief Executive Officer following his top performance in the contest for the position. Mr. Orji

 

had also previously served as MD at JP Morgan.” The question of supply penetration of these excess

 

introduction of any currency in Nigeria can be very difficult to manage and may not support long term

 

view of most investors comfortable with Nigeria. Keeping a flow of these currencies into or removing it

 

entire may hindered healthy economic growth and may force the rate of return of the Global market.

 

“Other members of the Board include: Mr. Arnold Ekpe, Mr Jide Zeitlin, Mrs Bili Awosika, Barrister Bisi

 

Soyebo (SAN), Alhaji Hassan Usman and Mrs. Stella Ojekwe-Onyejeli who will also serve as Chief Risk

 

Officer.” The report mentioned that, “In all, 730 applications were received for three executive

 

positions - Chief Executive Officer, Executive Director (Investments) and Executive Director (Risk). 40 of

 

these were long listed by KPMG which assisted in sourcing suitable candidates, 16 candidates were

 

shortlisted before the final three were selected.”

 

 

 

Based in part on the selective interest of the President, the under-listed are of interest that the State will

 

like cover in the narrating some of the basic procedures required for managing Nigerian Sovereign

 

wealth.

 

• Build a savings base for future generations of Nigerians;

 

• Enhance the development of Nigerian infrastructure

 

• Promote fiscal stability for the country in times of economic stress; and

 

• Carry out such other matters as may be necessary in furtherance of these objectives

 

It is interesting that this is not the first and perhaps the last time that Nigeria has given itself over to the

 

idea of entertainment or production quality, there is something of an original in breaking down of these

 

four statements above, but it is common sense that the major development in the last few years and

 

perhaps a long decade should include means of income and accruement, and how on any basic level the

 

resources could be used to earn some influence in many parts of the world. She provided the following

 

the examples based on the combined resources of several local government and geo-political sites, that

 

is “Following the recommendation of the Task Force, an Executive Nomination Committee (ENC)

 

composed of six Nigerians with integrity, independence, proven qualification and tested market

 

experience from the six Geo-political zones of the country established. The Committee had the

 

responsibility to assist with the selection of members of the Board, a key plank of the governance

 

structure of the institution.”

 

 

 

Although horning the resources may be a permanent fix, but the specific geo-political areas of the

 

country can achieve a form of internal rate and comparable interest rate independent of the influences

 

of the central banks, or dance to a form reserve system with due respect to the general resource levels

 

of the six locations in the country, each tied to their own businesses abroad and accord to the levels of

 

market expectation, credit quality and function. Creation Regional Reserve Bank is not easily achieved

 

but the price of Nigerian economic bandwidth and the potentiality of via for better businesses in West

 

Africa in the derived interest of these alternate regions makes room for future fracture of the resources

 

net and GDP, each accounting to the general resource pool and federal accounts, each able to create a

 

net worth environment of competitive pricing and Internal Revenue, each may pretend to buy the

 

reputation of financial resources elsewhere including with some censor what happens in BRIC nations

 

and in recent time MINT (S).

 

 

 

The exception should be reduced to the question of ECOWAS and perhaps

 

elsewhere. Here we can look at the list, and compare in the six zones,

 

with the CME as chair, that the six ENC members are:

 

1. Mrs Sola David Borha - (CEO, Stanbic IBTC; South West)

 

2. Lady Nkoyo Toyo - (Hon. Member, House of Representatives; South South)

 

3. Mr Uwa Etigwe, SAN - (Partner, Streamsowers & Kohn; South East)

 

4. Dr. Obadiah Mailafia - (Former Deputy Governor, CBN, North Central)

 

5. Mr Mahey Rasheed - (Board Member, First Bank; North West)

 

6. Mr Hassan Usman - (CEO, Aso Savings & Loans; North East)

 

Among the names and parties of interest include Shamudeen Usman and Dr. Mansur Muhtar and Mr.

 

Segun Agaanga. These names and those previously mentioned is to look over a nest worth of $1.3 billion

 

which for many of us is far less than expected or perhaps it reflects a year to year inducement from

 

Federal Purse or ECA accounts if any. The size of wealth is too small for a Country and its Banks looking

 

to cover the basic efforts of here and elsewhere. The point of sharing billions of foreign account in

 

Nigeria to Nigerians elsewhere to foster the long term relationship between these Nigerians and host

 

country, for instance Nigeria and China, and the strength the health of credit for Nigerians in U.S and

 

U.K. As much we now very little can be expected in these capital nations saving the culture of credit, in

 

so far as Nigerians and Africans are concerned, lack of genetic financial pool delay the opportunity to

 

catch fire with the rest of the world. It is important that stories from America reflecting the business

 

behaviors of these Nigeria should include other argument about the benefits of returning to the country

 

with the best business practice in mind, especially in real estate and banking which for Nigerians is not

 

new and which compensates some of the lapses in the administrative reasons of these Nigerian in the

 

United States.

 

 

 

 

 

In the interest of survival and profit driven by the natural propensity to sale, the issue of abnegation and

 

questions of elf-denial, do not amount to any major advantage in world markets saving the price of

 

learning the hard way that comes down to resources, to money and above all – health of credit. If Segun

 

Aganga is included in the list of overseers in Nigeria and Mansur Muhtar, it is not for fancy or fun to

 

recall the difficult orchestration of Nigerian sovereign wealth – which unlike China and perhaps unlike

 

Asian tigers are compulsory for any business interest in United States, Canada, China, U.K and Europe in

 

all. There are levels of penetration in wealth and currency consideration, for as much as we know, a

 

market place is devils the buyer – survives an attitude to obtain any amount of good for the least

 

possible price.

 

 

 

We regard this behavioral aptitude to the culture of savings are adolescent behavior since the buyer is

 

only a buyer is he or she believes it. We can easily explain the price of sovereign wealth as the common

 

sense that accompanies advantage psychology of money that a buyer is also selling, more than anything

 

a unit of exchange or any legal tender is a cost item no different from the store. If Nigeria is looking to

 

post a new look at how it perceives itself in the larger world, it is accord to consider the lingering and

 

neglected markets in U.S, U.K, in Canada and Mexico, in Brazil and to a large extent India and China as

 

opportunity to try the desperate hands of many Nigerians and their business compatriots by dovetailing

 

a 10% nest of income capacity or GDP of Nigeria – in good and ill return of market to a minimum of 2

 

billion retinue of year to year income. In this case we hope that the circumstances surrounding this new

 

requirements by the these nations and Nigeria may be argued to be setting a right tone for these

 

investment options in U.S and in China - especially for Nigerian business men and women based in these

 

countries.

 

 

 

While countries like Nigeria and Ghana for instance, may struggle to have their economies

 

stabilize in the global market, there are arguments that political economies such as China and Russia and

 

their behavior tendency to world market is perhaps a shift from one economic definition to another and

 

business interest should force the same argument. For instance, China is shifting from Neo-Communist

 

economy to capitalism and Russia is doing the same, the exercise of sovereign wealth is a harsh reality

 

that many countries of world are more than likely to deal on. There other reasons why this is ever the

 

case, the width of these markets force a given value of a single currencies and its distribution around the

 

world to remain a supply chain long after the business day is over. By the amount of currency rotation

 

that shift from Asia to United States and back through Hong Kong in Europe and elsewhere, helps to

 

regulate the rate of currency appreciation for Chinese Renminbi and Russian Ruble. There is a place

 

between these West African countries and several parts of the world including – China. The attitude to

 

economic community of the West African States shy from their commitment to investing in several parts

 

of West Africa through a currency based transaction. A Ghanaian investment in Nigeria in size larger

 

than before can ease some of the race to interest rate.

 

 

 

The End of Influence ‘What Happens when other countries have the money’ by Stephen S. Cohen and J.

 

Bradford De Long, considers the Exxon-Florio Amendment to the Omnibus Trade and Competitiveness

 

Act of 1998 and pairs this idea to some of the encouragement you are more than likely to obtain from

 

other circumstances in International Savings rates and the rate of exposure for

 

various Americans and insurance company around the world. Emphasis on Walt Whitman Rostow,

 

 “Rowtow argued that the world economy went through long-term Kondratiev Cycles of growth and

 

Development driven by Malthusian processes of resources exhaustion followed by Schumpeterian wave

 

of innovation and exploration. A decade or two during which resources prices would rise higher and

 

higher and growth would slow as industrialists economized can expensive natural resource inputs would

 

be followed by a generation in which technological change or resource discovery would remove a

 

bottleneck and create the opportunity for a decade or his of rapid

 

growth.”

 

$2.5 trillion funds – China…It may seem appropriate to use Dani Rudrik – Recipe - for industrial rapids

 

growth, here itemized by Stephen S. Cohen, that these following examples are reasons why nations of

 

the world do better than others. The under-listed are examples for some of

 

(1) “By attracting “hot money” from rich countries with investors who are subject to fits of

 

irrational exuberance.

 

(2) “By exporting Commodities whose prices are rising and by using those prices rises to fuel

 

expanded domestic consumption”

 

(3) “By moving labor from low – productivity, near –subsistence agriculture into manufacturing by

 

adapting and adopting the machine – based manufacturing technologies of the industrial revolution.”

 

‘The first two roads tend to produce short-term booms by crashes and reversals. Borrowing from

 

overseas allows a country to feel rich and spend more for a while in domestic consumption and

 

investment, but does not expand manufacturing and exports. Because the money funding the boom is

 

hot and foreign investors are fickle, the flow eventually reverses itself. Moreover, the natural channels

 

for money raised by borrowing from overseas are non-tradable like construction and elite luxury

 

consumptions. The second raises the requirements for inputs in the long run, and the first does not

 

expand and exports.”

 

 

 

We revise the assumptions on this piece by narrating and comparing the New Economics of Sovereign

 

Wealth Funds to the Global markets explains the size of

 

(A) Current account surplus in Commodity and non-Commodity exporting Countries with SWF’s

 

(US$ and as a percentage of GDP)

 

(B) FX reserving in Commodity and non-commodity-exporting (in US World Stock market Capitalization

 

by geographic areas Comparison between OECD and IMF approach….

 

(a) KIC – Korea investment Corporation (b) KSA – Kingdom of Saudi Arabia (c) LTCM – Long term

 

Capital management (d) NBER – National Bureau of Economic Research (e) PIMCO – Pacific

 

Investment Management Company (f) PIH – Permanent income Hypothesis (g) QIA – Qatar investment

 

Authority Kuwait investment Authority (KIA) (h) Abu Dhabi investment Authority (ADIA) – China

 

Investment Corporation (CIC) and to according 13 – F filling has invested $9.6 Billion.

 

Hilary Clinton – ‘We need to have a lot more control over what they (SWFs) do and how they do it’.

 

Once appointed, some of the leaders were reduced to taken the presumptive behavior towards the

 

(SWF) did not (a) CalPERS, or the Alaska Fund or even Freddie Mac or Fannie Mae and in this section and

 

attitude to marketing and to a great extent the attitude.

 

 

 

 

 

 

 

Part of the reason is that CIC established $200 billion (later $300 billion) endowment in (2012), with

 

diversifying investment strategy from China and from Chinese several banks, the Republic as they say,

 

“….poured several billion dollars into highly publicized acquisitions of minority stakes – prominent

 

financial players, e.g., Black Stone (US $3 billion in 2007), Morgan Stanley (US $ 5.6 billion also in 2007),

 

J.C Flowers (U.S $3 billion in 2008), BlackRock – the world’s largest independence money manager (U.S

 

$713.8 million at an unknown date) APAX Partners LLP, the UK private equity group. (2.3% in 2010 for

 

an undisclosed price) and in one Canadian Commodity Company Tech resources (where it holds a 17.3%

 

share) and A Quarter of CIC investment is in exchange traded fund. ETF “CIC in 2009 held a Portfolio

 

composed of 32% in cash, 36% in global equities, and 26% in fixed incomes securities (71% of which was

 

in government securities). Of the amount in equities, 43.9% was in North American, 28.4% in Asia Pacific

 

and 20.5% in Europe.”

 

There are several ways a bank can raise money, IRA and Mutual Account.

 

 (2)

 

It can raise money through depositors – lending through interest ‘lower than inflation rates’ as the

 

economists say.

 

(3)

 

From International market – including the intrepid FDI and IMF who colonize the premier political

 

leaders.

 

(4)

 

Banks can raise money by begging for it, either through a reposition on the pyramid requirement or

 

fund rate, which in this usually accompanies the long term thrust on the currency ratio, a bond market

 

and the Vanilla which is no longer an affair but lasting 30 years. This may require the unconventional

 

method of insuring this future usually through tight-budget exercise, the re-invoked partnership and

 

ownership and state property through debt, through ‘umbrella theory’ or not, Rotary Club and perhaps

 

Bolsheviks given the participation of the moneyed type. Based on the number of information available

 

to several system and the Global SWFIs, (1) Reserve Investment Corporations and Stabilization Fund (2)

 

Saving Funds (3), and Risk Contingent Funds.

 

(1)

 

Reserve Investment Corporations and Stabilization Fund; Hong Kong, National Reserve Fund and

 

National Wealth Fund (Russia) with policy mandate Macro-economic Stability and Investment objective

 

of Capital preservation in stable and term investment return. The risk level is medium (2) Saving Funds –

 

Direct Investment, Abu Dhabi investment Authority, China Investment Corporation (China), China

 

Investment Fund (China), Government Pension Fund Global (Norway), Government of Singapore

 

Investment Corporation (Singapore), all have a yes Direct Investment Fund Categories, and non-Direct

 

investment.

 

 

 

Abu Dhabi investment is conspecific to policy mandate – to invest funds on ‘behalf of the government of

 

the Emirate of Abu Dhabi’, and scores very high on the long-term consideration to risk investing directly

 

with the company and V for transformation and velocity between Abu Dhabi and say a commune

 

economy like the United States, and in terms of exposure – they have the diffusion rate manumission as

 

high as 8.10% with other consideration for Developed equities 3.5 – 4.5%, M.E equities 10 – 20%, Small

 

Cap 1 – 5 %, Government bonds; 10 – 20 %, Credit 5 – 10%, Alternative 5 -10%, Private equity 2 –8%,

 

Infrastructure 1 – 3% (2012). These confined investment behavior do not shy away from Nigeria and

 

compares directly with Ghana or to extent South Africa, saving that investment requirement by long

 

others are diminished by short others including the success and general capacitance of the traders than

 

 

 

the font for moving funds around the world. The spread in the credit banter is less than perfect but the

 

fund’s rate – if rated by outsiders may or may not secure additional investment see for Abu Dhubi, but it

 

is meaning that the Capital City and the nationwide investment strategy is mainly Abu Dhabi’s numbers

 

as such the proper assessment of the risk is no longer at (3) Risk Contingent Funds; Savings Funds –

 

China Investment Fund, Government Pension Fund Global, China Investment Corporation (China), Yes,

 

Government of Singapore Investment Corporation – (Singapore) – Yes. U.S Market funds and Alaska

 

permanent Fund - (USA) – (Long term), Korea investment Corporation – (South Korea) (Long – term)

 

(Yes), New Mexico State Investment Council, USA, Government Pension Funds/Direct investment and

 

Investment profile of Selected SWFs, Domestic equity, 51%, International equity – 10%, private equity;

 

6%, Hedge funds; 40% (Sources, Castelli, Scacciavillani: 2012).

 

 

 

It is a straight, cut and dry argument, pockets of influences are witnessed by receiving or ending a

 

booming economy such as Nigeria that has grown an average 9.9% (Bloomberg) for the past 5 years,

 

may have not cultivated influence elsewhere and as such is still ridden to all kinds of shocks to its system

 

and to its currency. It falls differently on the priced ownership of individual decision making process,

 

with or without insurance is equal to credit level and FICO rate. We can emphasis the differences

 

between Credit based expansion and the Saving Fund expansion, some of which support degrees of

 

disequilibrium and individual interpretation of the market. Although the appointment of these six

 

indigenes into the hallmark of the forces responsible for deciding the Nigerian sovereign wealth,

 

including a six representing a six geographical location of the country; Mrs Sola David Borha - (South

 

West) (2) Lady Nkoyo Toyo – (South South) (3) Mr Uwa Etigwe, SAN - (South East, (4) Dr. Obadiah

 

Mailafia - (Former Deputy Governor, CBN, North Central) (5) Mr Mahey Rasheed – (North West) (6) Mr

 

 

 

 

 

Hassan Usman and (North East) and best of which is the decision that compares with national averages

 

and rate of investment which utility complex achieves - as such the inverse relationship of price to bond

 

market is remediable through the expansion of credit for nations shifting from surplus to debt or

 

investment to surplus depending on the levels of production curve and employment numbers - for

 

instance the stimulus end - a surplus which investment achieves or stimulus or proposed tax economy

 

achieves - possibly through credit to new lines of businesses or towards the new economy.

 

For a balance of currency rotation to co-exist between Nigeria Naira for instance and the rate of

 

business interest between Nigeria, Nigerians, and China and United States, the deep and widening

 

exercises of its functional banks (dynamic banks) and the issue defensive banks which relies almost

 

exclusively on fund rates and size of money storage - dependable in part on rate of crude oil and other

 

cash crops for bifurcating. With the loose structure of overnight lending between the three tier markets,

 

one tier economic frontier such as represented by a central bank and in this examples ECB, almost relies

 

entirely on what happens to U.S market and Japan's Funds rate which for defensive reasons and reasons

 

of busting an over-valued currency, force interesting to remain low, diffusion rate to remain low, and

 

attracting as a way to diffuse value from over sea. Case in point is the rising Mexico Pesos since the

 

indirectly decoupling of U.S dollars from Crude oil - achieved with Greek Debt and partial European

 

recovery at low Crude oil prices.

 

 

 

A policy that permission new IPO to enter the Nigerian Stock Exchange even at 1 million naira financial

 

underlying account received, allows more companies to enter the large industries, may expose these

 

companies to the Nigerians at large, to perhaps poaching but new model for banking and banking acts

 

based on national pyramids and perhaps a regional banks, will micro-manage the problems of poaching

 

at IPO given the familiar waters of regional guarantee of resource allocation. Pushing Nigerian it to 1

 

trillion dollar market as Bloomberg Financial estimated for 2015 will probably not happen under the

 

current arrangement.

 

 

 

For instance, South-South Nigeria is the highest grossing region of Nigeria economy, between

 

Akwaibom, Rivers, Cross-Rivers, Bayelsa, and perhaps on the same pedestal as South-east which

 

includes Abia, Enugu, Imo, Anambra, Ebonyi, Delta, the error has been to add Delta to South-South, but

 

in all, these mentioned states in Nigeria are all crude oil producing, and in re-based revenue domestic

 

grossing especially for new Crude oil magnets such as Imo, Enugu and Anambra, there are more

 

resources from this part of the Country more than anywhere in Nigeria and West Africa.

 

 

 

If for instance, Delta State reigns in 19 billion dollars from crude oil on behalf of Nigeria alone, Rivers put

 

in 21 billion from 28 billion given the formalized ceding of Ukwa Region back to Abia State bumping Abia

 

to 15 billion, it compares backwards from Sokoto with less than 10 billion and Bauchi with only 3 billion

 

dollars into the Nigerian coffers. The amount of money combined from Abia State and Imo State as part

 

of the old Imo State is larger than Lagos State at 30 billion and in 2014, 33 billion dollars. Some of these

 

are mainly from Crude oil let alone other resources from South EAST and from off-shore drilling in

 

Riverine Nigeria which does not make it to Federal Accounts.

 

 

 

Lagos in spite of Fashola does not contribute 90 billion to Nigerian economy; it has from clearly stated

 

CIA resources, IBD and European Intelligence, somewhere between 30 billion to 33 billion even as at

 

2012. Much of the money generated through Federal Chartered industries, especially the Internal

 

Revenue and Foreign Direct Investment pour into Lagos and do not constitute State property.

 

The new found crude oil section of the country also adds to the State of Lagos but the net worth of the

 

State and GDP income is not up to 50 billion yet until the Lekki refineries are fully functional, let alone

 

the claim of 74 billion which does not come close even with the appropriation of Nollywood business

 

which originated in Aba and Onitsha whereas the Industries is based in Enugu not Lagos. Aba and

 

Onitsha does not have the infrastructure to sustain the business but it was Lagos however the chief

 

market was and eventually began to attract public attention to the film industries. The best it’s yet to

 

come as far Lagos is concerned, but a total attention a state could receive is a diminishing of other areas

 

of growth in Nigeria and this is why there are gaps in GEJ’s administration. It does not have the

 

resources yet and mineral components.

 

Consider also that the greatest headache of Nigeria in the last few years have come from Bauchi with a

 

meagre amount of 3 billion dollars, in essence, Bauchi cannot even support the primary basis on the

 

employer in their region and in their economy, and with the problems of insurgency, Nigeria is basically

 

wasting their money in a State that is sponsoring terrorism. The retribution of money as I see in Nigeria

 

can be compared to what is experienced in United States and in many parts of world, for instance

 

pension and permanent injection of money through a re-distributive process such income tax returns

 

and social security are chief concerns of the States such as Nigeria and United States.

 

 

 

 

 

Corruption gradually enfeebles these Nigerians managing long chain of resources and accounting

 

standards when they make it to National level, or Federal accounts. But at the chief industries of the

 

country expands through for instance Nigerian Stock Exchange and its adverted debasing of its currency

 

through continues injection of foreign investment, we are looking at a country that has a recovery

 

problem long term with a debt bias that is uncomfortable for the economy in general.

 

At such instance the issue of Lagos playing center and forward on Nigerian economy widens the issue of

 

inflation and with expanse driven economy free from competition from the rest of the state; it is false

 

economy and market to emphasis Lagos as the signs of economy growth when it is not. Yet some

 

equilibrium is possible and better than one sided economic growth, when each of the regional states

 

should give account of its resources on a national level, control its destiny and further the role of these

 

States in their regional development with contribution to national security, national income and

 

treasury balance sheet and increases in taxes as a means of guaranteeing continues injection of money.

 

 

 

A regional banking act for the six regions in Nigeria may help encourage the issue of salable interest

 

between these working groups and regions, and intra-state relationship between say Rivers and Abia

 

State, or between Rivers and Akwa-ibom or Abia to Imo which are landlocked anywhere. These other

 

neighboring interactive do not have to waste their energies on national guarantee of redistribution of a

 

national level. As long as money flows into National coffers in pretext of distribution, there will always

 

be some magnet and chieftain from all corners of the country seeking balloon their private piggy with

 

what the so called Federal Accounts has to suffer.

 

 

 

Africans were killed in large numbers in Sudan and so killed that Darfur became a portrait of a continent

 

raped and mutilated by Asia, Arabs, and Europe. The Americans are just as guilty but the issue of

 

common genocide inside and now land grabbing by Arabs in the name of God, would or would not have

 

ended without the rise to power of the President of America, Barak Obama and efforts of George

 

Clooney who America into a different and dream lay pedestal.

 

 

 

With the coming of Obama, all these genocidal headaches of the Sudanese by Arab and Janjaweeds, and

 

the murderous European adventures in Congo came to an end months before his inauguration. It is the

 

President of a great nation such as America or any useful European country that make it possible. If such

 

an individual was black or at least missed, the land and life of these Africans can be restored or

 

retracted. Yet they stagger or perhaps stumble from their own lack of faith, for we know that our faith in

 

a country driven purely and ultimately by merit could not have possible in Nigeria given the 'malignant

 

cancer of tribalism' from its early.

 

 

 

Strangely enough, Nigerian Airways is turf on the new and newly renovated Airports and are managing

 

the long queues with only 8 operational Air Ports and 2 Heliports, and for the records only 3 of these Air

 

ports are International and they guzzle their passengers with price. But under this pattern, the long horn

 

emphasis on others to develop Nigeria or add to its green will not paper out the demands on the

 

grounds. In essence, it mean seem realistic that the country can only care for its citizenry by the

 

provisional resource allocation of the new operational groups interest banks are kin on achieving, but a

 

new currency challenged from 100 paces to 1, there is room to allocate foreign interest nations willing

 

and able to penetrate the market, and further extend the frontiers of market strategy already

 

approaching its apex in US and EU and the consumer economies.

 

 

 

These sectors that need more social programs, or would require government expansion and active

 

supervision to re-open will have to wait unless a new round development begins. It however makes for a

 

second kind of argument that if we are talking of employment opportunities, we cannot use Lagos or

 

Abuja to draw conclusion on the rest of the country- It is poor estimate and is occasion for poor and

 

uneven market…, we must, in particular Mental Health of the patients and doctors or nurses supervision

 

to expansion of Benefits.

 

 

 

A grid system in terms of the Nigerian Social Service and State I.D or number is another means of

 

ensuring that newly graduated Nigeria or fairly new Nigerians are successfully - if not dutifully

 

employed, and these measures if have applied or pursued by the seating government will help to track

 

down violent activities in any one simple part of the country and will also speed up the hunt for loose

 

cannon groups anywhere in the country and in West Africa. The Grid System is security deposit on the

 

future of any economy's widening demographic and will create means that will promote jobs now and

 

for the future. Such grid system or social identity is not an academic exercise, is far from just a symptom

 

of what Nigerians have learned over the years in places such as Canada or what some of us can still state

 

accurately about the highly coveted and challenged U.S health care industry, rather it is a process of

 

creating work and employment.

 

 

 

There are other benefits of Sovereign Wealth in every nation, that (1) deep Sovereign Wealth

 

Investment Fund penetration like C.I.C is pushing for Nigerians to stay in these countries, either through

 

the physical money base increment or through direct Reserve Purse for Nigerian business and those

 

seeking to enter the markets for the first time. This allows the cultivated rate to withstand the stress of

 

attracting by lending to U.S banks or to Federal Reserve as a way to guarantee a future comfort with the

 

long term U.S bond market. Generally we shift in this case from the bond market to Real Estate and as

 

we have seen, the attraction of foreign capacitance to U.S has weltered down the influence of Federal

 

Reserve hence a stay at Fund's Rate - at least up to the June 2015 draw down. Natural we have several

 

key areas of business or requirement such as Physical temporary/Permanent resource base and

 

Requirements for Credit in trying to ensure the function of any Sovereign Wealth Fund and Sovereign

 

Wealth Investment Funds.

 

 

 

One of the vast examples of this incident is the premise of Sovereign Wealth of several parts of the

 

World and global economy is perhaps what historical too place in Yugoslavia and Brazil, it here that rate

 

of public debt and responsibility for ‘Country crushed by debt’ and the essence of Harsh IMF Rules and

 

Austerity – Bolsheviks, find other means to secure some control of the cash. The intent is to address the

 

problem “inequalities of the currency rate’, which is depended on human actions are not subordinate to

 

it. The root of Nigerian political instability and Economic restlessness is the higher international Hot

 

money, the Pandora of private Airlines and Ship lines that until recently plowed their games above the

 

norm. It is a usual form of penetration – when we associate ‘fright capital to high interest rate and

 

‘debt’, with FDI investment category.

 

 

 

Yugoslavia (H2) Sovereign Debt, ‘Brazil’ South Africa – (b) Experience of Chile under monetarism (c)

 

Philippines under the ‘World Bank’ programs (d) African Debt problems and IMF (E) ‘South Korean ‘curb’

 

market’ (f) ‘Crash of the Souq el-Manakh in Kuwait’ (G) The Role of Diamonds of ‘contrabandista’s (h)

 

Lebanese banking (in “peace and war”) ‘under world of arms’ ‘drugs’ ‘flight capital’ ‘Credit Squeezer’ and

 

its impact. Other examples of hot money which replaces FDI includes financial product classified as

 

Service economy, military manufacturing flat, farm economy and payroll using R.T Naylor’s Hot Money

 

and the Politics of Debt.

 

Companies or Banks borrowing on the Eurobank – could not be salvaged in the past by member

 

countries. IMF intent to create international money standard to replace Gold….. This was to be achieved

 

through a currency basket – between ‘Afghanis and Zlotys’, and then members are allowed to borrow

 

from the basket past at a higher rate or perhaps as a correlate between rate of return of a State or

 

system dynamic and existing market condition.

 

 

 

This ideological prologue did not work since it required profit margins higher than most and the

 

placement of U.S dollar a replacement for international currency….It was most evident in the U.S

 

Marshall plan and which had the plan to save Europe under the relocating some of the problems of the

 

saving gluts somewhere. This of course warranted investment in treasury bills and ended been

 

auctioned at the later process to off-stage deficit. Some of the problems of this exportation of excess

 

liquidity are the balkanization of local currency and inflation. This is a tight prolegomenon that leads to

 

IMF Austerity which usually borrowing as a form of investment, but ends up with too currency basket

 

and a failure to localize the return rate of a specific economy of interest and its correlation to the

 

foreign markets and Foreign Direct Investment. The risk involved in guesstimating rate of return and

 

investment risk is usually a junk bond category with expansionary clauses that attempt to mitigate on

 

the underlining securities of the existing market economy.

 

 

 

When any economy is over-weight with foreign investment which is the same thing as having the rate of

 

investment over 22 cyclical percentage of new lines of credit for small business administration and new

 

economy, or the rate of debt servicing to national GDP and due process requirement for serviced debt

 

and requirement of processing it which usually convert the inflationary pressure to spike in currency

 

exchange and ends up squeezing the disequilibrium of individual economy. It is especially important

 

when there is the common .5 diffusion rate from non-VAR housing index, in such an instance, the rate at

 

which economies improve from small business administration to mid-cap reverts to a 3-month bank

 

stocks index performance and rate of economy.

 

 

 

Economic advantage includes amounts from private contribution, percentage profit, credit and rate

 

which have to do with the public. In an argument which reflect the interest of Christopher Jenck’s of

 

Harvard University and Joseph Minarek -----Brookings Institution < who discovered in 1970’s that

 

inflation hit the Rich the hardest (drug) who save the most and who invested the most, we are looking at

 

the culture of savings and the necessity of avoiding the glut viewed side-ways are a system without

 

growth and without direction – however effective. As we have maintained in respect to the challenge of

 

resource allocation in Nigeria and poor health of cyclical economic studies in Nigeria and perhaps West

 

Africa – especially the shocking gap in taking advantage of the available resources in West Africa – to at

 

least lower some of the expectations involving Super currency, and placing some wealth of resources of

 

major companies based in U.S or operated differently, could earn Nigeria and West Africans some

 

stability with the currency especially if the Six geo-political zones are different factored into the system.

 

Solution A----Regional Requirement---Regional Reserve Bank (System), System Requirement for the

 

Nigerian Sovereign Wealth Fund Investment, A System Requirement A covers the basis of the

 

Juris-prudence. The basis of existence and the limits of the actions by the federal government and the

 

Regulation Requirement, Constitution of the Reserve Requirement as opposed to other foreign U.S

 

Reserve Regulation A that cover marginal revenue and market rate investment groups, especially

 

Insurance and International and Corporation of business interest. These are mostly savings funds which

 

directly invest in specific growth economies in the world, unlike SWFs, that narrow some of their

 

investments to buying into pre-existing business based on the reports and balance sheet of the

 

companies.

 

 

 

 

 

 

 

Dividing two forms of Regional Banking procedure

 

Dynamic System (Internal); Gold, Silver, precious metal, administrative recourse; endogenous, Defense

 

System Offence; (external), funds rates, interest rate, exogenous, and the administrative procedures of

 

Regional Reserve Bank.

 

Dynamic

 

System A, Upper Pyramid - ECA

 

Institutional Pool of finance and Pig Bank, Sources – Federal Sources – Source of disbursement of credit.,

 

System B

 

Members; the Constitution, Affectionate Group, Investment Society

 

System C

 

Margin Requirements for Banks, RATS System moderation (RATTS) for Banks, Interbank lending - margin

 

In the place of interest paying accounts, Money Market Mutual Funds, Bank Money Deposit Account,

 

Certificates of Deposit,

 

System D

 

PPP lending and Credit, Revenue base, Mini investor programs, SATTIRE,

 

System E

 

IRA teams, extended 401 (K), Insurance and Bank Insurance corporation, KEOGH, Margin SATTIRE (2),

 

SEP

 

System F

 

Investments and rate of return, Line of defense ---- taste of liquidity, Rate of Return, and LIBOR

 

Pursuant, Bank Stocks, test of process; transparency, test of process; administration of lending rights;

 

equal lending rights, test of process; short term, termination of process, test of process; stress. Test of

 

Process, valuation of currency, Repurchase agreement

 

Defenses

 

System G

 

Mutual Funds for Stocks, Ginnie Maes ---open and closed stock options, externalities

 

System H

 

Treasury; Income repository; Bonds – replacement bonds, long term association, Corporate Bond,

 

Munis…etc.,

 

System I

 

Investment Funds, Growth Fund,

 

System J

 

Agencies, non-for profit organization, Community Investment Act, Saving rate, Highest Yielding Funds,

 

Government Sponsored Organization,

 

System K

 

(U.S) National Bankers Association – pro term Nigeria, Com. West Africa, Africa. National Real Estate

 

Owners Association, Ranking, requirement for parties, Society of Investors (II), requirements for ETF,

 

Requirement disbursement, CPI, Credit Corporation, (Dummy Variables)

 

System L

 

Hidden measure, special interest, Long term, 30 year vanilla, Loan qualification,

 

Offensive

 

System M

 

(Econometric) CPI, fiscal savings rate; glut, (University of Lagos)

 

System N

 

Bankers and Banking Act, CDS and denominations, International Currency Basket>dollar rate,

 

System O

 

Commercial Paper “IOU sold by corporation for day to day operating funds”

 

System P

 

Eurodollar CDs Dollar “denominated certificates sold by foreign branches of U.S banks or by foreign

 

banks”

 

System Q

 

Treasuries bills and notes – “sold on a periodic basis by the U.S treasury and backed by the “full faith and

 

credit” of the government, with Nigeria perhaps with primary resource pool such as the NSWIF from ECA

 

account dominated in US or UK. The proscriptive message of Aganga towards is leadingly misappropriate

 

System R

 

Repurchase agreement – (Repos for short) buy-sell deals in which the fund buys securities with a 7 – 14

 

day repurchase window by seller, coupled to the crude oil prices and the repurchase membership with

 

interest but outside the original pyramid or funds rate. Must be performed by banks of interest with

 

underlining interest and securities and not necessarily collateral,

 

Section S

 

(a) MMDA, Regional Bandwidth for banks of origination, fund types, money market trophic,

 

comparative CD rate and money market, types of fund, Certificates issued by U.S branches of foreign

 

bank

 

(b) CDs – certificates issued by U.S branches of foreign bank….chartered through the Regional

 

Reserve Banks

 

Stable money and Sound money…..

 

There are also the second benefits of sovereign wealth of Nigeria in the United States, the problem with

 

the inflation and tendency to surplus theory is that a shift occurs between inflation and inflation curve,

 

and what happens when there is a COLA – Cost of Living of Adjustments away from CPI with additional

 

inflationary pressure. The Solution reverts to Credit facilities even for 30 vanilla and estimated growth

 

rate of any economy, the attempt at jogging his reasonable price range and rate of rate from external

 

and internal rate, for instance attempt by Chicago to correlate its rate of return – usually return of

 

investments from debt – hence debt driven credit bracket – illustrate why FDI or Foreign Direct

 

Investment usually alters local investment rate and send the market to a very different and unusual

 

ends.

 

To understand the theory of Austerity from public savings and the role of interest rate in progress based

 

economic, the two principle monetary based actors; Keynes and can be invoked in the process.

 

Obviously the argument that men like Hyman Minsky makes for investment with or without government

 

actions, seem to have descended from Adam Smith and through to John Keynes. In fact, when in recent

 

times that Joseph Stiglitz argues for re-investment from Asia savings, he was perhaps toeing the lines of

 

the argument from these authors and actors of investment. The origins of these ideas are not totally

 

depended on any of the formal founders of modern day economics such as Adam Smith.

 

Put it differently, the circumstances surrounding the application of that process may have been keen in

 

Europe and may have worked, whereas Adam Smith was popular in US, his formative ideology of the

 

role of surplus in investment which Marx used for a different interpretation, explicates on the general

 

theory of his time and his day in the course of the society’s structural and intellectual evolution. It is

 

easy to suppose that with money comes the need to exercise a spending option that even if there are

 

cases of surpluses, that the saving or the conditional injection of money do not really preserve value.

 

Savings may be equal to value on the short run, long run; savings do not yield money saving for

 

investment. Money saved is not confined to end of a flow given the issue of co-efficient rate, do not

 

really catch up to inflation if when we explain it from the problems of acceleration or the earliest and

 

misfit applications of Laffer’s curve to the end of a flow, which continues into a stock.

 

 

 

 

 

Of course Laffer’s curve for taxes can only be applied to taxes, which is a constant not including the

 

quantity, but has a propensity to a fixed variable and has history given the bias to government bond and

 

rate of investment and spending, but would not apply at the level of quantity applicable to a running

 

investment and stock.

 

 

 

 

 

Put it differently, Minsky’s investment options from surplus do not meet my argument or a general

 

trade fair observation, that investment in terms of a flow seem to a large extent closer to Friedman than

 

Keynes and Minsky, but it need to be said that Friedman did not emphasis investment from debt as a

 

way to understand the flow or direction of inflation or income; each capable of playing the DNA of

 

economics, yet Friedman measure of the rate of investment from debt is reasonable stock and flow

 

option, that in realty, the illustration of aggregate demands by Keynes, did not meet the idea of

 

spending when there is surplus, rather the ‘demand cave’ as I described in stagflation which is evident in

 

the stagnation from inflation - hardly the case as I argue elsewhere - and stagnation from deflationary

 

prices as in the case of Crude oil in Global Market in 2014 which is the really a symptom of stagflation.

 

This sort of economic condition could have been misdiagnosed in the years leading to what we presently

 

have, saving for emphasis on surpluses and investment, whereas Keynes argued for de-linking of

 

investment and savings, he never made to the summation or depth valley of investment from debt. He

 

must have thought that over-investment is root of inflation which is notionally correct, and on the

 

underlying fact is the premise perhaps started with Adam Smith and through to Karl Marx, maintained in

 

Ricardo, that with Surpluses come a re-investment, ameliorated in Efficient Market hypothesis of Harry

 

Markowitz and ability to expedite risk in any society or under compulsive situation when there are

 

material concerns of excesses.

 

 

 

We consider the role of investment from economic surpluses as a normative, we categorize this

 

investment as only applicable to ordinary level, we consider that somehow the idea of circulating

 

savings through investment in demand and supply, as only possible and profitable at the period when

 

there conditions of this reserves. It is like this, you are been asked to leave Austin to assuage the angst

 

of unhealthy and unattractive bed fellows and you wonder what the fruk? It merits the issue of

 

expansion and contraction, it does not reach or abide with it, for if we put the theory of investment as a

 

form of expansion, we would have left aside the main event of expansion during economic conditions,

 

that the evidence of this expansion is re-focus the market through propensity, that here, it is only

 

investment from debt without necessarily torching losses may fully justify the multiplier effect and the

 

actual meaning of investment from negative-negative truncation.

 

 

 

When we get into the way of debt from investment, the supply solution fits into the banter of

 

investment from debt only one condition, the case of future rewards. In a sense, what causes the

 

problem of depression mentioned by both Adam Smith and Keynes is attributable to high expectations,

 

for here he looks at flow instead of stock, or stock of value away from flow. In reversal of role

 

maintained for champions of Adam Smith such as Thomas Malthus, we prey on this

 

error that the a piece grafting of the price ceiling under the debt condition of a given market is not

 

justifiable under the nozzle of Austerity and lack of founding, that in surpluses, there are material cases

 

that the next best alternative is savings, may also only appear to appeal from the issue of the levels and

 

limits of the application.

 

 

 

Combine this estimable of savings in the terms of surpluses to materiality of production minus labor, we

 

have a matter of price advantage not competitive advantage, that price advantage in this case is a

 

function of any market, that re-investment in different market and through a different stock of real

 

capital is investment from savings. It matters that this can only apply to a certain period of profit –

 

perhaps during ordinary levels of application, second to this level of application is the issue of profit

 

margin which needs to be maintained without a diminishing effect on labor. But a true measure of the

 

investment is the future estimate of its possible rewards, beginning with the applause of a negative

 

balance when for all probably purposes the flow is come to an end.

 

 

 

 

 

Here as I argued elsewhere, the right form of investment is from debt where the propensity may be

 

reduced to the suppression of the market or the lack of general equilibrium during excessive white noise

 

leading or falling short of marginal value per execution of stock or a given demand and supply, leads us

 

into a question of measure, that one, the only time that Joseph Stiglitz advice in 1997 to Asia and China

 

to expedite of their savings may work is when there is necessarily a standing institution such as United

 

States, that at the absence of a command value system like the established value system and price

 

function like the US, is a problem of ensuring a continuity of profit or returns of investment directly

 

from labor or production based.

 

 

 

In reality, China expanding through CIC investment routes, need not conform to the standards of the

 

general market that requires a certiorari of an existing market, that a point is reached when the total

 

amount on invested interest in Chinese or elsewhere, do not conform to any standard and the question

 

of savings becomes a matter of reverting to metals and stable and non-perishable economic tender

 

other than cash  Debt and Investing---Using Hicks argument

 

Minsky “Hicks interpreted Keynes as allowing for two sets of interdependent markets, one for

 

commodities and the other for money or finance (bonds). In each set of markets Hicks derived the

 

interest rate and level of income combination consistent with equilibria. He identified the problem as

 

asset up by Keynes as the determination of the simultaneous equilibrium in both sets of markets. Hicks

 

have aggregate output and interest rates settling at the level that simultaneously satisfies the

 

equilibrium conditions in the commodity and money sets of market.”

 

 

 

“Hicks therefore t that would treat the determination of aggregate demand as if it were a supply and

 

demand problem; he argued that there are combinations of interest rates and incomes that would

 

equate supply and demand in both commodity and money markets. As in Hansen, private domestic

 

demand for commodities is made up of two parts; the demands for consumption, and the demand for

 

investment. Consumption demand was taken to be a function of income and the interest rate. The use

 

of income as a variable is a bow towards Keynes, while the use of the interest rate as a determinative of

 

consumption is a bow to classical views of savings.”

 

 

 

According to Minsky, “Hicks took investment to be a function of the interest rate and the level of income

 

(mainly as an afterthought). At this point Hicks made a major step toward forcing Keynes into the

 

classical model, for he interpreted the relationship between investment demand and interest rates as

 

reflecting the marginal productivity of capital. This identification of the interest rate – with a production

 

– function attribute meant that Hicks was implicitly assuming that the economy gravitates to some

 

unique full employment income level. In an economy in which the level of employed to employable

 

labor varies, the profits earned by capital assets depends upon the extent to which aggregate demand

 

leads to scarcity of capital-asset services.’

 

 

 

Wealth and Poverty by George Gilder, a foreword by Steve Jobs ----who is one of the better journalists in

 

the world and a personal favorite arguing on the merit of wealth and money in the opening brief to the

 

George Gilder, stated clearly, that “Gilder understands the intangibles of capitalism. Wealth comes from

 

ever expanding pools of information. The greatest source of wealth-creation is the human mind.

 

Entrepreneurs don’t need all their money to meet their basic needs. But the reason they should be able

 

to continue to own the wealth they create is precisely because they are better Stewards at reinvesting

 

that capital – and thereby multiplying it at for benefit of us all – than government bureaucrats are.”

 

Education and lots of care ‘have the scopes for free enterprise’ nominated ‘sound money’ and the crying

 

need for modern society, “Stable money conveys priceless information to entrepreneurs and

 

consumers. A government that undermines the basic values of money is the equivalent of a hacker

 

introducing a virus that corrupts information on your computer.”

 

 

 

Surplus is argument centering on both investment and savings. For all we care, there is an effective and

 

economic separation between resource allocations procured during surpluses that are when there is

 

more enough reason to accede exogenous recovery rate to endogenous rate of balance. What happens

 

during surpluses is that the national expectations from year to year balance sheet exceed the balance

 

sheet. There are generally several reasons why this happens in any economy; perhaps it was due to the

 

issue of the foreign direct investment, which is argued to have a short-term bias from long term

 

disadvantage. It could be the effects of new policy and economic theory on a pre-existing economy for

 

instance the introduction of new rate of taxes, or the introduction of new tariff levels in any society. It

 

could be the same case with the problems of the migration increase – at least at the onset of the boom

 

economy which has its ingredients. It could be a result of the presidential years where certain recycling

 

of money and currency, during perhaps periods of spending including presidential years or as part of the

 

recovery process of from depression economic when stimulus enters the market.

 

 

 

Although anti-cyclical economics theorist such as John Keynes may have given us some insight into

 

means and ways of beating the cycle economic paradigms leading to healthy economic advantage, his

 

theories gives hints of some gaps in the system that has not yet manifested – which can however be

 

averted through problems of return rate for instance employment on an NAIRU level through to the

 

land of exporting due to increasing in labor and production but approaching problems high wages

 

shifting from long term fixed income attached to 10 year notes. In some sense, we experience as a

 

consequence of boom economics the problem of inflation and balkanization of currency, whereas

 

money such as mutual funds may just be indicating a shift from local economy to foreign markets due to

 

shifts in bond prices away from U.S Bank stocks, an inflationary pressure reverts to questions of Savings

 

or what I describe as price corruption given the burn rate between the new levels of inflation and the

 

rate of return of profits or banks that give you 1-2% on a every 10-12% interest they charge.

 

These rate which correlate each other between the Banks offered money market rate and the rate of

 

returns at the Federal Reserve or Funds Rate which is also correlative to what the banks offer CDO

 

accounts.

 

 

 

The main issue as it affects our money is that inflation usually go ahead of Bank estimate, as

 

such price and market volatility do fetch a balance between return rate and the percentage margins

 

offered by the banks over a period of time. In short, Banks can only increase forecast from year to year

 

and at rate of lending from 3-montsh period co-joined with Interbank and overnight lending.

 

In sharp detour to the effects of profits or unexpected bump in the economy it has been the

 

expectation and practice of most economists since Joseph and the Pharaohs of Africa to defray surplus

 

through savings for a better day.

 

 

 

There is nothing wrong with this theory, it has been practiced through

 

and through, it leads to infinite speculations about the exogenous causality, perhaps something is

 

happening with economy which we do not know, perhaps it has a mere disruption that fades the move

 

for better years? What is important is that an economic analysis of this period will also guarantee that

 

Joseph ideological persuasion is first and fore mostly driven by accurate fore-cast which even in

 

economist and market today is quite important, especially in market. The indications are very present

 

when from signals in any system dynamic there are signs for new reality and new cycle that these days

 

of boom or surpluses lead to days of burst. So when in Egypt and in Africa that the economic bubble

 

busted and their wall street went belly, most economies of the world were able to trade with Egypt

 

because from all account their stimulus was pre-set 7 years from bust.

 

 

 

We can argue that Joseph’s economic theories regarding surpluses – seemingly logically and

 

provisionally accurate – is faulty, if not faulty, it is entire restituted to the era when commodities was

 

the only currency. When we compare livestock and grains and corns from a period no longer at ease

 

with us, we remove this fear that welcomes the acceptance that harder days are ahead and hedging

 

may be appropriate. That for I, may discourage this idea on the count of flow and stock, that if the

 

treasuries of Egypt and Nubia were only meant to store unperishable and end of flow material such as

 

grains and gold, the alter frozen in its scythe, there are hardly any problems of defraying cost through

 

cheap production on real time and perpetual economy.

 

 

 

This idea of an ongoing economy and the continues flow, allows to deal with the subject through

 

ventricles of the currency, it’s a product of free market and without government intervention allows you

 

to play around the fact that you (buyer/seller) can exchange goods with the next of interest in class of

 

business and interest using a pre-approved plan and tender called currency. In some required measure,

 

the shift from surpluses to savings has a future which in Joseph’s case was a period of 7 years guarantee,

 

a form of investments through savings but tied in retrospect to national economy and bond.

 

There is something to vitiate the bond; the count that the market will reverse and like the forecast

 

presaging a boom, that there is additional forecast to make the argument about the Nigerian economic

 

future and why there is need to embrace their sovereign market. This defense scenario leads into all

 

forms of understanding, one of which is the case of the defense against the future market well known

 

and can therefore be mitigated by savings and guarantee of returns absorbing the rate of diffusion.

 

 

 

There is however the issue of currency busts and balkanization when in all estimate that a country is

 

looking to save the economic condition of its future market by guaranteeing a 10 year bond along the

 

parameters of utility complex and development of new roads and bridges and they end up creating

 

more jobs and more credit leading to new growth of the economy – asset allocation – investment – and

 

permanent money. In this case, the rate may differ when there is a savings glut, when there is money is

 

saved through treasuries.

 

 

 

Whereas in Joseph and the Africans there are direct demands for products on hand, which may not be?

 

Diminished and the changes of these commodities expanding was totally diminished by the savings rate

 

and the building of seemingly bigger treasuries. When there is more money out there in circulation, the

 

economist says you can raise interest rate, increase additional reserve balance sheet from banks and

 

above all, create a room for accommodating surplus. One fine example of this scenario is the recent

 

issue of European system when there are cases of surplus currency flowing in from the Crude oil and

 

Arab dollars. European banks were saturated with dollars that they began to experience a savings glut.

 

Whereas we can push that a shift from currency to Gold can help to micromanage the boom and

 

uncertainty with over-valued currency, there is nothing that can explicate the rate of money base when

 

it is scoring above the rate of interest and rate of rate.

 

 

 

In this case, a mitigating process like we say with European will be defraying the future problems of

 

inflation through investment in US and its real estate. By shifting the inflationary pressures from Europe

 

into America, you allow companies on both sides to reposition themselves through the demands of the

 

Reserve system and hope they privately investment like many Chinese and Asia countries are doing in

 

U.S during this period. This process in US put spank on the real estate prices which injured the CPI and

 

ended forcing the CPI to act ahead of the overall market, removing the mark to market status of

 

Commercial Banks away from Investment threshold. This case did not pamper well and in explicating,

 

there was a need for US banks attached to local market and rate of return to perform the frenetic rate

 

of this hot money and shadow banking from Europe and Asia and the end result was a drastic boom of

 

the US housing market and then the fall which was expected.

 

 

 

In this case away from the case of Joseph and the Africans, we can see that lack of foresight or poor

 

planning in the United States proved dangerous for the health of the housing market when there is a

 

local rate of return that is behind the curtain on the presence of foreign companies in US and Foreign

 

Direct Investment, there was inflation issue which China entering in the market helped to ease away.

 

 

 

From here, we compare carefully that the attempt of distributing surpluses which is same as risk as we

 

can better explain, promotes the fractured economic view of that the several markets are required

 

during any event horizon from surpluses, whereas the advice that the shift is reasonably acceptable and

 

hedges against the problems of glut from production or savings from reversals, it will take a different

 

kind of market to absorb the new money, that it will take an economic view with national agenda – even

 

with the Chicago School and free markets system – to sustain the rate of growth through direct

 

investment without abnormally injuring any core areas of the economy; Core CPI and by direction, the

 

VAR.

 

 

 

We may in this case laminate for the records that China or prospective democratic economics of the

 

world such as those emerging from socialism characteristic of the BRIC or from Communist economies

 

such as those leading new ground in money and world market; China and Russia to mention, reply

 

extensively on pre-existing pro capitalist economy to have a chance at survival. Without US and Europe,

 

majority of Asia economies and politically experiment and economic miracles will more than likely

 

stagnate. It is not wrong to impose that the frenetic rate of investment from Europe into US was not

 

from failure to come to grasp the danger in US or the risk from inflation, that it exists from other

 

principles of economic meaning, that a buried treasure in US through house investment, more like

 

Joseph’s saving glut of maize and corn, will reap a harvest that will ensure any future years in America by

 

Asia and European countries hence a future is saved through a desperate mitigating of sales force.

 

We can be sure that the temptation to shift a surplus earned through savings and through perhaps a

 

central Reserve System, can distributed even through an efficient market hypothesis, and for a case such

 

as Joseph and the Africans, these actions were actually taken and that it involves an end of flow or stock,

 

a commodity and a perishable without technology.

 

 

 

We compare that this scenario is obtuse from European attempt at deficit balance due primarily from

 

the issue currencies flowing from Asia or any part of the global macro into Europe leading to savings glut

 

of some proportions and some issues of saturation. It is common place that in Joseph and the Africans,

 

we notice that there is a forecast involved - away from any theories of modern financing there is a

 

process involved in this growth of the African economy and in Egypt, that it was endogenous growth

 

based on utility complexes transferred differently or what they call in advanced money situation

 

options, that the rate of options available in transferring the risk in spending is deferment based on

 

running tendencies of the necessary new margins from previous economic cycles – the bump – that the

 

bump harvest is here deferred a form of mitigation of risk and for term structure with 7-run rate and

 

year to year agility given the priced mention of maize and corns as the derived year to year to product.

 

This is the curve, that in terms of European panoply with surpluses during the rise of crude oil and the

 

forwarding of fund rate, that the –crude oil prizes gouged upwards given the new grounds for money

 

initiated and sustained by money and by crude oil sales, that these new grounds gave new and newer

 

meaning to the monetary reality to defer in other hedge against the bad weather. We notice that the

 

exogenous growth driven mainly foreign direct investment was meeting reason for attempting to diffuse

 

inflation through investment which the local return of rate was comprised by the rate of influx of foreign

 

currency hence the funk with ECB’s fund rate. To cut the fund rate inspired all kinds of reaction from

 

crude oil and as long as Arab dollars flowed in Europe and America received from both Asia and Europe

 

all savings funds and investment through third party cushioning it can afford, there are emphasis on its

 

CPI which the Taylor that Alan Blinder was argued was principal in Greenspan’s use of moderation and

 

its 4% was misled and ridden off.

 

 

 

We notice that US unlike Egypt as Europe not unlike the rest of Africa, permissioned this increase in such

 

a way that the fixed incomes earners with poor adjustment bureau and tendency, bound to the main

 

street and the mortgage – its principal target and reason - ballooned up and ended up in bankruptcies

 

as the lines between the investment banks and creating money from credit and commercial banks and

 

creating money from nothing or with future market; banks stock depended and bond market driven,

 

were crossed and the meaning no longer at ease. Barron’s Morningstar estimates (a) Equity (b) Fixed

 

Income (c) Alternative (d) Multi-Asset Class Equity based; (a) Global style (b) Sector (c) Sector (d) factor

 

based (e)Analyst Advantage Fixed Income ; (a) Global Investment Grade (b) Emerging Markets Series (c)

 

U.S Investment Grade (d) European Investment Grade (e) Inflation protected Alternative; (A)

 

 

 

 

 

Commodity (b) Hedge Fund (c) Diversified (d) Managed futures Multi-Asset Class (A) Lifetime Allocation

 

(b) Target Risk (c) REAL Asset (d) Global Allocation (e) 529 College savings…

 

 

 

 

 

A Lobby

 

 

 

If Nigeria makes half a trillion dollars mainly from selling Crude Oil that runs from your backyard to your

 

Heritage or Inheritance Country United States and none of these material gains reach Nigerians in USA,

 

Europe or Asia, and for a start Nigerians in US and Canada where much of money is realized, then

 

something is really wrong with the picture. Sometimes some of us try to understand if we Nigerians or

 

Americans or Nigerians plus Americans or opportunistic ‘beast of no nation’ who are not really wanted

 

by both parties will ever make it, and wonder how to proceed as a people far from our Africa which we

 

cannot truly say we are far from home. There are business opportunities which the society of the new

 

beginning offers but not accessible due in large to the influx of immigrants from other parts of the

 

world. As the story goes about migrants from several other parts of world, Jewish emigrants from

 

different parts of Europe had to deal with harsh realities of the new country, that it was persistence in

 

business ad linking the US to Russia, Europe and the Pacific that made the difference in the financial

 

navigation.

 

 

 

Nigerians did not arrive to these states by boats or from persecution or expulsion as these Jews were.

 

They arrived by air and through the plane, with money in their portfolio, with degrees to buttress and

 

had to stay with their families until further economic enhances. In New York, there are businesses

 

opportunities Nigerians in United States can get into, besides trying at the top of your shouting lungs to

 

sell a small prized real estate with the banks signing off on it through a supervisor’s approval, we may

 

consider other things, that majority of the companies in US have roots elsewhere, and only some level

 

of long term investment comfort can guarantee partnership and employment in its key resource areas.

 

It is the question of inheritance and what happens. The question is what now happens to our share of

 

Nigerian resources from our backyards in Nigeria and sold to our Country called United States. The

 

answer is that we are cheated from our resources in Nigeria, cheated by denied our birth right in US by

 

default. Some of us may ask what it should matter that you are failed by Nigerians in your share on your

 

heritage.

 

 

 

My answer will hardly surprise anyone, it matters that people may not see how well cheated these

 

Nigerians and Nigerian Americans or Africans of any junior or ranked investment category, who are

 

living and spending so many years in US and Europe and having nothing to show for it than the money

 

loaned from Nigeria or Africa except for special cases of those live who also live here and have to

 

struggle for lack of financial competitive foundation saving exchange a rate’s advantage.

 

But this should not be the case given the Shawley-Oxley laws in 2002. Above, there is such a thing as

 

Reinvestment Act in these United States which can be used from the stables of a Reserve System which

 

is private resources matched by US Federal Govt. to the threshold of at least 25% non-refundable

 

withholding of transaction receipts between Nigeria tor Corporation of interest coming from Nigeria and

 

dealing on Crude oil or similar cash product with United States or private and institutional corporation of

 

interest from US, on a market and real term quotes, year to year, to be rested on their Bank of receipt

 

and choosing.

 

 

 

This receipt does not mean that Nigerians or Africans who are pretty much struggling from day one in

 

the States or Canada and who even constitute worker parasites deferred employment certiorari and

 

qualification (odd jobs), should be given free hands on managing these resources or engage in charity

 

without losing their formal reasons in being in the States, or have these investments so removed from

 

US or similar country of interest and domain, without explication to Nigeria or anywhere else without

 

due recourse to profit meeting for market standards. In essence, U.S can't be forced to train and feed

 

these Nigerians who irrespective of their standing agreement before coming to these states, bound by

 

tax paying, or inheritance clause affecting new migrants, are dead set to participate in their new country

 

and new economy.

 

 

 

That Nigeria or any African country can in respective levels of transactions with United States or any

 

country of interest, be expected to support the future growth of these Americas and the countries, then

 

the go-between persons of interest who reside there, here, born here or anywhere, have short and long

 

term business interest in these United States, should participate in the estimate of these countries.

 

The Sovereign Wealth of these Nigerians in the United States is separate accounting and should not be

 

compromised or misunderstood. Nigerians overseas suffer the most due to lack of organizational

 

structure, rely on public employment or private interest in medicine, for instance, sojourners from Africa

 

and Nigeria, easily turn their attention to CPA and Medical Careers, public and home health jobs, all of

 

which are fine American job opportunities to take advantage of but rely mainly on Government benefits

 

and insurance.

 

 

 

 

 

These Nigerians like Caribbean American before them, are happy to be paid peanut wages which by

 

American Standards is poverty level which ensures without public acknowledgment is a cyclical trap that

 

makes it difficult for Nigerians or Africans to barely make it into working class Americans. The game play

 

is to expand the future of the United States through consolidation. Whereas these men and women

 

from Nigeria or Africa, with serious education background do not mean to take on these jobs or need

 

not, above all do not furnish any intention of lasting too long on them. In the past, the career move was

 

to progress from CPA or GNA to Nurse and from Nurse to registered and Licensed Practical Nurse, or so

 

others will choose, take interest in Medicine and medical studies.

 

 

 

III

 

 

 

The war came to an end in 1970, and from 1970 began the decade of reconstruction which inadvertently

 

formulated the mindset of Nigerian society. It is in these recovery years that the significant rift between

 

the Nigerians began to appear, the rift was between those who became the courier of Nigerian Banks

 

during and after the war, and those who earned their pittance through ‘small cracks’ of lending and

 

family borrowing, through the ‘inlet’ of trade and trans-border trade, through caveat emptor; the

 

smaller units of businesses scraping around the larger, the law forbidding the expansion and the ratio in

 

all things for space and rights which impeded mid cap companies.

 

 

 

Such adverse business environment, largely out of mistrust eventually created a sense of business

 

management, more like a form of attitude to business and to living which the banks completely

 

endowed from the 70’s onwards. By the early eighties, few years after the fall of Shah of Iran, the Shell

 

Company was readying to break in big in Nigeria and there was new and newer necessity of other banks.

 

The much of Nigerian banking can be described in three categories, one the Government managed, the

 

Commercial banks which had their horns from the civil war era, and the Investment Banks which began

 

to respond to the need of change in the larger world. The curtain dividing the east from the rest may

 

fallen by this time, but the rift was established, so much so that Banks were a quasi-property of certain

 

people, who may now be called Old economy, the Commercial Markets, the First Banks and the Union

 

Banks.

 

 

 

In future as better stability of the country is forged, there will likely emerge other banks in the country

 

that will conduct social Industrial programs and development in many of its forms. But the rise of

 

military in Nigeria, in an age of oil boom gave birth to Investment Banks, initially and ultimately owned

 

by Northerners but this time, private families with long roots to the bigger banks gradually emerged.

 

 

 

The expanded nature of the world business in the 80’s at a time when Nigerian oil began to make

 

headway in the world, enabled Nigerians of the Investment grade to earn their ranks through the stock

 

market and through international trans-border trade and in end, even attempted with help from

 

Lebanese business groups to provide interest rate for many francophone countries. Such attempt made

 

these Nigerians soft targets for the neighbors and in places Cameroun they faced

 

open hostility.

 

 

 

It also led to the first and formal fracas between Igbos, Ijaws, certain Urhobos, and

 

Syrians and Lebanese. These Nigerians also warned against the impact of Euro, citing that francophone

 

countries had very little to earn from the sub-categorization of their West African Markets if the franc is

 

pulled and but they felt it necessary to outdo these new Nigerians and many of these Nigerians exited

 

from these areas, poured into Lagos and some parts of the east as at early 90’s. These Lebanese and

 

others also played a pivotal hand in Investment Banks in Nigeria though private placement in the

 

Nigerian stock market, but their real strength was the commercial where they supervised the

 

inflationary curve price of building and real estate. There were others, especially from the far side of

 

country and from the North. But the success of the older Nigerian banks was a product of military era,

 

an era that fed on to many Investment banks, many of them entirely reliant on Nigerian federal grants

 

and contract with few scattered businesses. When the military disappeared, these banks in their many

 

numbers also disappeared. There was also the issue of insolvency, mainly comatose by non-performing

 

debt which accumulated in dues by inflationary pressure.

 

 

 

The main thing is that nothing was working aside the business of small administrations, and only a

 

certain investment type could have supported these Investment banks. They rose so quickly and fail just

 

as fast, with people losing much of their money. The commercial banks such as First Banks and other

 

older Banks held out the hopes of other businesses and served as protections for buffer tycoons roving

 

in and out of federal account. In those years of the 90’s Nigerian banking society began to evolve into a

 

different dragon.

 

As much Banks rose and failed, there was a newer group of Nigerians, but this time with an the edge of

 

Securities placement, with insurance which ones the home make of bigger banks, with newer avenues

 

for merchant banking, with credit amortization and association, with the degrees of leases not unlike

 

the commercial banks and where offering credit advisory and futures trading in all respect of investment

 

management. These new banks acquired the rent prolepsis of micro financing and experimented with

 

credit technology available in the US. It was these groups that began to chart the contours of Nigerian

 

business, and began to underwrite for small business almost as the big guys. But their small unit in

 

several outfits helped these Investment banks to aggregate overtime gainer from Market Nigeria,

 

though largely commercial but experimenting with quickly experimenting with size and the forms of

 

businesses involving everyday bank in Nigeria.

 

 

 

 

 

 

 

The case of banks rising and falling and the case of people doing business through foreign exchange and

 

parallel market made it easier for alternative to exist. It also made it easier for smaller banks to also fail.

 

Commercial banks were digging too deep into the country and they had little competition. Commercial

 

banks became the mother laden of many areas of Nigerian economy as smaller ones failed.

 

The advert of Obasanjo as President did not change the status quo, in fact he even deepened the vast

 

resources of these bigger banks in Nigeria, who by market estimate where several in number.

 

Obasanjo’s privatization scheme enabled some survival of these smaller banks, but the rise of National

 

debt to 30 billion and clear absence of sovereign wealth and zero foreign reserve led to the appointment

 

of Prof Charles Soludo.

 

 

 

When he arrived at the office as CBN Chair, it was clear to the business world that business of Nigerian

 

banking and the stock market would likely change. His idea of bringing several small banks together was

 

to ensure they were reasonably fitted to compete and that there were too big to fail. What the effort

 

however did was break the power of the old dominating banks and many of collision began to offer just

 

as much credibility as the older ones.

 

 

 

This began a certain kind of race, not unlike Lehman and company in US and in Europe, but a race that

 

almost naturally spike up price, where bankers went out of their way to look for customers even it mean

 

trading on deposits that they were too thin. The bust was a natural consequence of that era, but more

 

than anything, it brought down the inner walls of First Bank and their older groups in Nigerian Banking

 

industry. Those who led the new and Nigerian revolution in Banking were small business administrators

 

who in the era past struggled against the tide. There was also Nigerian made Tycoons who were willing

 

and able to stake their profit on Nigerian banks, the era of new banking cleared the sea of bad obstacles

 

and at once proved an upfront to older.

 

IV

 

The balkanization of Nigerian Naira through a unit per unit comparison with dollars through to 140 per

 

dollar term, may have misguided calculation of actual perform grade on many Nigerian banks. The more

 

culpable of these Banks are the likes of First Bank who could have shown no sign of internal event

 

breaking. Another factor is that of Petroleum. Twenty five years ago, crude oil was within the 7 dollars

 

for a barrel and with the range of years winnowing in 2008, there was a sharp shoot of the gas and

 

petroleum to about 150 dollars per barrel. This unbound continue of price importation to Nigerian

 

financial facility should have done enough to congeal any hint of bloodletting or mispricing of Nigerian

 

Naira.

 

In a sense, the rate of the rise of oil has been continuous time on wend, a Plateau of graph on the

 

absorption of rate into Nigerian economy in the place of actual and real time profit. The good and bad

 

thing about this flat or even keel is that the Naira in lieu of the rising oil should have remained at parry

 

with local economy, essentially subdued with very little kinetic movement which would have in turn

 

enabled a better estimate of Bank’s aggregate performance from local perspective. As such there is a

 

reason why Banks were harvesting big time wealth from Nigeria and why for three decades the only

 

financial engine that functioned was the banking industry. The reason is quite simply the number

 

accoutrement and the currency ratio to dollar, had nothing to do with value of Nigerian economy. It

 

sounds oxymoron but the fall of the Naira was not a Nigerian make, even though it represented Nigerian

 

Naira. Nigerians were only tilted to earn beyond their means and the numbers made these Bank such as

 

First Bank look good especially in those high earn years of 2006 – 2008.

 

 

 

The obvious nose dive of First Bank and other Older Commercial banks in Nigeria is attributed to lazes

 

faire attitude towards raunchy business deals and ‘badonomics’ of the very aggressive 80’s and 90’s and

 

a forward for 2000s where the false impressions of growth was only the Asides from prized crude oil

 

which in real time Nigeria did not benefit. The force of money velocity evident in the gap of 1999 – 2008,

 

largely speaking, from the eve of a newly created force of money called Euro which rocked the US stock

 

market to the financial debacle of 2008, revolve around money as the pendulum of decay, which note

 

the corrosion or erosion of value when new function or shift in price function general appeals.

 

I call this force of new and aggressive price movement on or upon older price, ‘price corruption’. That is

 

the absence of a levitation force in well leveraged or even de-leveraged money market - however risk

 

averse - will certainly lead to corruption of value, which naturally collapses any old system since the

 

older value no longer apply.

 

 

 

The rate at which this price corruption occurs may be linked with the so called failure rate, mainly

 

probable from an endpoint or probable end point of indexing. Failure rate is hypothetically closer to a

 

funny kind of draw-down. From the nature of the draw-down in Nigerian economy and its bond market

 

in the years 2005 - 2009, attention of many risk managers would have been spooked. And by the tall

 

edge of 2005, there was no clarion call from Sanusi on such problem and why it signified big trouble for

 

Nigerian banks and Stock market.

 

 

 

So margin risk become a complicating thing for big banks since we can say that a risk portfolio bathtub

 

of graph is great for many other reasons including the reverse of the life-span in understanding the

 

reliability of banking system or the markets. A reverse of the bathtub from DFR through CFR through IFR

 

would have made a short put re-combination possible, thereby useful in mastering the variance of risk in

 

well-oiled 1999 – 2008 Nigerian market. If foreign agitation of Nigerian economy and investment

 

remained a put for many years, irrespective of what was happening in terms of real estate in US and in

 

the world, the general inference is that Nigeria was too risky since Foreigners probable earned more

 

money from in Nigeria and from Nigerian than Nigerians did, than they probably did in any economy in

 

the world, hence a put. But with a put, we can pretend that Risk was under control, but the inverse is

 

the expert's view that something was wrong and Sanusi at First Bank would made 'Real' out of the

 

condition and I mean understanding that there were no degrees of inevitability in any event.

 

Ijeoma Nwogwugwu Sept 12, 2012, The Battered Nigerian Naira and Project Cure, “Another argument

 

that has been raised by the central bank in the last few days to support the introduction of the N5, 000

 

banknote is that it will curtail the need for people to hold their money in foreign currency notes –

 

another term for it is “dollarization”. This argument is defective on the grounds that another major

 

characteristic of money is that it is a store value. If the naira is stable and can serve as a store value,

 

there will be no need for people to convert the naira to the greenback. It is irrelevant if the CBN prints

 

the N5, 000, N10, 000 or N20, 000 banknote; insofar as a banknote cannot guarantee value, people will

 

always convert it to currencies that do so. The primary reason individuals or institutions resort to

 

dollarization is because, as the reserve currency of the world, it offers the greatest store of value, not for

 

ease of carriage or portability.