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Soludo Misled Nigeria On Banks’ Consolidation –Mark

By Adetutu Folasade-Koyi , Assistant Editor, Abuja



Senate President, David Mark, has said former Governor of the Central Bank of Nigeria (CBN), Chukwuma Soludo, misled the National Assembly on the banking consolidation exercise he supervised in 2005.

Mark said this at the one-day joint public hearing on a Bill for an Act to Establish Asset Management Corporation of Nigeria (AMCON) organised by the Senate Banking, Insurance and other Financial Institutions Committee.

Nkechi Nwaogu chairs the committee.

Declaring open the public hearing which had stakeholders in the banking industry in attendance, including CBN Governor, Lamido Sanusi, Director General of the Nigeria Stock Exchange (NSE), Ndi Okereke-Onyiuke, the Senate President reiterated the setting up of AMCON because of toxic debts of banks which has climbed to as high as trillions of naira.

“We have found ourselves where we are today as a result of one thing; the Central Bank of Nigeria’s inability to supervise the banks properly.

“I recall that in Soludo’s time, we called the governor of CBN no less than three times to come and brief us when the economic melt-down started, and on each occasion, we were assured and re-assured that the situation in Nigeria was excellent and that there was no problem at all.

“Now we know better.

“So, I think that is the point that we must note straight away. AMCON has become necessary because of the toxic debts that have been incurred by various banks.

“I believe very sincerely that if the supervision was alright, we would not have found ourselves running debts up to trillions of naira. I think that point is very important and we must note it.“

“What is even more disturbing is that while the banks were running these toxic debts, they were also declaring profits.

“But those banks had these debts and then fat profits and all of us were clapping for them because we didn’t know the inside story but they are people who are being paid on daily basis to know the inside story of the banks; they didn’t do their work,” Mark said.






http://www.nigeriannews.com/

Well, David Mark is a proven short sighted man. He also misled us years back by saying that telephone is not for the common man. Whats the difference??

it is a pity dat airwaves can b turned loose 4 ppl like mark to talk. He is most unqualified to accuse anyone of deception

^^^^^Where was Mark when Soludo's mis-information was going on?

Mark also misled us when he said Nigeria graduates were daft compard to a nigerian army sergeant. What of the 'abandoned properties' mis-mark?

Why is 'this MARK' always missing the mark?

Listen to the message first before shooting the messenger. I haven't seen anyone here try to deconstruct what he said and floor his words with logic. Instead you're dredging up the past!

I despise David Mark himself, but if i took exception to his words i'd take apart his argument instead of taking the lazy approach you folks are using.

texazzpete:

Listen to the message first before shooting the messenger. I haven't seen anyone here try to deconstruct what he said and floor his words with logic. Instead you're dredging up the past!

I despise David Mark himself, but if i took exception to his words i'd take apart his argument instead of taking the lazy approach you folks are using.

In the same vein. You should advice David Mark to listen to the message by the messanger-Gaddafi before calling him a MAD MAN.
Those who live in glass house shouldnt throw stones at all. One Lazy approach begets another.

Am not a fan of Soludo. But i just cant understand why this mark keep missing the mark.

chosen04:

In the same vein. You should advice David Mark to listen to the message by the messanger-Gaddafi before calling him a MAD MAN.
Those who live in glass house shouldnt throw stones at all. One Lazy approach begets another.

David Mark is the Senate President of the Federal Republic of Nigeria. Do you expect him to give credence to any suggestion calling for the breakup of Nigeria?

Besides, he did note that Ghaddaffi had called for the abolition of switzerland and a couple of other outlandish ideas in the past

texazzpete:

David Mark is the Senate President of the Federal Republic of Nigeria. Do you expect him to give credence to any suggestion calling for the breakup of Nigeria?

Was David Mark not the Senate President of the Federal Republic of Nigeria when Soludo was saying all was 'well' with the economy?

Did most of us not send memos to the senate alerting/notifying them that all was 'not well' then?. Who didnt know that the consolidation economy was badly run by Soludo, except ofcourse David Mark's senate? If David Mark can discard the memos sent by 'all' then cos he trusted Soludo then? Why is he now claiming that he senate was misled?

If he was too blind to listen to the voice of reason the alert notice then, he should forever remain blind and not look for anybody to blame.

^^^^Why is this Mark always missing the mark?^^^^^^^

it takes one deciet(david mark) to identify another deciet(soludo).
the truth is that pdp and workers are bunch of deciets.
the good news is that those who live by sword, die by sword.
soludo decieved nigerians and those he trusted with his life decieved him into going for anambra gunbernitorial.
deciets begest deciets

david mark is a politician. anybody that expects less from him is on a long thing. he is telling us that his senate committee on banking and finance are a bunch of nitwits. if as watchdogs they failed to see through the smoke screen taking everything soludo 'told' them without thorough evaluation, then david mark should know that he also misled nigeria on banks consolidation because he folded his arms and watched while the masquerade was let loose.

So sad that Soludo has now been rubbished like this.
Nigeriaaaaaaaaaaaaaaaaaaaaa . . . .Na wa oh

5years from now David Mark will also start telling us how Sanusi decieved him. By then there will be a new set of reforms whose primary motive is to undermine Sanusi.

This is the sad story of Nigeria. No continuity on anything except corruption.

@chosen04, are you really in GUATEMALA, or you just like the sound of the name?

Fhemmmy:

So sad that Soludo has now been rubbished like this.
Nigeriaaaaaaaaaaaaaaaaaaaaa . . . .Na wa oh

it's a dog eat dog world we live in. david mark will get his soon.

Sanusi ruined the economy.

ojimbo IV:

it's a dog eat dog world we live in. david mark will get his soon.

True Dat . . . . I am sure it will be his turn soon, and even Sanusi will be bitten too, when the time comes

So sad,

18 platoon:

@chosen04, are you really in GUATEMALA, or you just like the sound of the name?

Chosen04, is actually on official Assignment to the place called Biafra in Guatemala. We are currently studing similarities, differences and why this place was named after the "Land of the rising sun"

Biafra, Zacapa, Guatemala

What's around Biafra? Wikipedia near Biafra Where to stay near Biafra
Terms of UseThe timezone in Biafra is America/Guatemala
Sunrise at 06:02 and Sunset at 18:08. It's light


Latitude. 15.1333333°, Longitude. -89.3°
Where is Biafra?


http://travelingluck.com/North% 20America/Guatemala/Zacapa/_3599476_Biafra.html#local_map

The irony of it all, is why will a Banana Republic like guatemala also have a place called Biafra. Its a beautiful place. Also marginalised like Biafra land in Nigeria. Its appalling why google and others dont have much info. about Biafra Guatemala. Thats why we are researching about it.

Its best you google it.
We may open a thread on NL about our discoveries if need be.
Thanks for asking all the same.

If Soludo single handedly decieved all members of the senate including TALKING-MARK, what then is their job in the senate?
Soludo told you everything is fine and it was bad according to you but you failed to notice from your own individual banking experience, and call your safe the watchdog and people representative?
There is a big difference between incompetence and deception, Soludo opinion maybe base on his honest belief as banker but got it harshly wrong as found in all banking world, where everything is based on speculation.

David Mark is a iconic disgrace. His breath stinks. A dumb senator

The guy is a politician. I dont know what else people expect.

Please forgive David mark for he do not know what he is saying.

18 platoon:

@chosen04, are you really in GUATEMALA, or you just like the sound of the name?

Am still in Guatemala researching about the place called Biafra in guatemala:

======================================================
world -> Central America -> Guatemala -> Zacapa -> Gualan -> Biafra

Biafra Map — Satellite Images of Biafra
original name: Biafra
geographical location: Gualan, Zacapa, Guatemala, Central America
geographical coordinates: 15° 8' 0" North, 89° 18' 0" West
Book your hotel in Biafra » Best Price Guaranteed!No booking fees.
detailed map of Biafra and near places

Welcome to the Biafra google satellite map! This place is situated in Gualan, Zacapa, Guatemala, its geographical coordinates are 15° 8' 0" North, 89° 18' 0" West and its original name (with diacritics) is Biafra. See Biafra photos and images from satellite below, explore the aerial photographs of Biafra in Guatemala. Biafra hotels map is available on the target page linked above.


Imagery ©2010 TerraMetrics, Map data ©2010 LeadDog Consulting, Europa Technologies - Terms of UseMapSatellite
Show labelsTerrain5 mi5 km


http://www.maplandia.com/guatemala/zacapa/gualan/biafra/

biina:

The guy is a politician. I dont know what else people expect.

People expect him with brain