Dialogues: RE: Fwd: USA Africa Dialogue Series - CBN's new N5,000 Note, A step in wrong direction

“I live rent-free in your head…”

Ikhide

What a thought? Is it true? What are the implications of one letting another live rent free in one’s head?

I am just asking?

From: usaafricadialogue@googlegroups.com [mailto:usaafricadialogue@googlegroups.com] On Behalf Of Ikhide
Sent: Tuesday, August 28, 2012 8:03 PM
To: usaafricadialogue@googlegroups.com
Cc: nkolikae@yahoo.com
Subject: Re: Fwd: USA Africa Dialogue Series - CBN's new N5,000 Note, A step in wrong direction - Institute

"As for those who use this medium to abuse others, well that speaks so much of their character and probably up bringing."

I am sure you were not referring to my upbringing and my character because you did not mention my name and from all indications you were not raised to be a sniveling coward. You should be confident enough in your physical and intellectual abilities to name and shame those that keep you up at night. You clearly are itching for a fight that you are obviously not equipped to fight or you would not have ignored my explanation to Abu that I did not abuse anyone. I have every right to my opinion, which is that we have no data to base much on in Nigeria. And you have every right to your own opinion. You however diminish yourself immensely when you consistently hurl abuse in my direction because you are uncomfortable with my views. I live rent-free in your head because I stand by those views and you are welcome to continue deceiving yourself that all is well with what passes for education in your neck of the woods. I am happy to engage you one-on-one but personal abuse I leave to you, because you are right, my parents brought me up properly with character and courage. I am sure you can say the same for yourself. You just have to prove it to the world.

Be well. Next time, mention my name. I don't bite. Don't be a wimp.

- Ikhide

Stalk my blog at www.xokigbo.com

Follow me on Twitter: @ikhide

Join me on Facebook: www.facebook.com/ikhide

From: Nkolika Ebele <nkolikae@yahoo.com>
To: "usaafricadialogue@googlegroups.com" <usaafricadialogue@googlegroups.com>
Sent: Tuesday, August 28, 2012 8:30 PM
Subject: Re: Fwd: USA Africa Dialogue Series - CBN's new N5,000 Note, A step in wrong direction - Institute

I wonder what data people are looking for that is more important than the the experiences of Nigerians on a daily basis, that each time a higher denomination is introduced, the lower ones are rubbished. Right now nothing sells below N50. Even the fuel at 97 naira is useless because the filling stations sticking to that price ends up telling you that they have no small denomination of twenty, ten and five naira to give you as balance where the case arises. The common sense prize as a result is hundred naira per litre in many filling stations. Same goes for almost every product in the market, Even the bus conductors start on time to announce "hold your change" as you enter the bus, especially where the fare is something in between like N40, N70 etc. That is the extent the Naira has been rubbished.What we need is a policy that will bring back the small denominations back into the economy, definitely not N5000. As for those who use this medium to abuse others, well that speaks so much of their character and probably up bringing.

Nkolika.

From: "amomoh2002@yahoo.com" <amomoh2002@yahoo.com>
To: Toyin Falola <usaafricadialogue@googlegroups.com>
Cc: xokigbo@yahoo.com
Sent: Tuesday, August 28, 2012 8:23 PM
Subject: Re: Fwd: USA Africa Dialogue Series - CBN's new N5,000 Note, A step in wrong direction - Institute

Ikhide,
You wrote inter alia, "It is hard to make an informed judgement about these things when even our brightest minds cannot use data to make their points"
I am beginning to come to the conclusion, that many before me have reached, viz you have a complex. I suspect you had a failed academic career in Nigeria before you sailed abroad.
Who are you to make such a misguided and frivolous remark? Do you know Prof. Adigun Agbaje? For your information, Agbaje is the first and only person ever to make a First Class (Hons) Degree in Political Science from the University of Ibadan and his record remained unbroken in 3 decades. He is a well- decorated and internationally respected scholar.
Prof Ogundimu's point is misplaced because Agbaje did not claim to be writing a technical paper but a position paper. Additionally, Economists are free to make technical input on "economic modelling" of the proposed N5000 note , if they please.
I urge you to stop abusing the privilege of the use of cyberspace to bad-mouth and ridicule people-many of who you do not know or have never heard about them. You have an over-exaggerated impression of your intellectual capacity. Anybody who is truly knowledgeable will be humble and respect other people. Abuse and insult are not synonymous with a good argument, neither are they a substitute for it. You find it difficult to make a point without insulting people. You could have been a tragedy, if you ever took scholarship as a vocation.
If you have nothing to say, don't constitute yourself into a busy-body and a nuisance. Enough of this nonsense, Just shut up!
Abu

Sent from my BlackBerry® wireless device

From: Ikhide <xokigbo@yahoo.com>

Sender: usaafricadialogue@googlegroups.com

Date: Tue, 28 Aug 2012 07:41:25 -0700 (PDT)

To: usaafricadialogue@googlegroups.com<usaafricadialogue@googlegroups.com>

ReplyTo: usaafricadialogue@googlegroups.com

Subject: Re: Fwd: USA Africa Dialogue Series - CBN's new N5,000 Note, A step in wrong direction - Institute

"I read the Agbaje OAIC paper, the arguments against the 5,000 naira-denominated note are cogent, with lots of useful examples drawn from comparative studies. What the paper lacks are substantive data drawn economic modeling of how the introduction of the 5,000-naira note could further accelerate Nigeria's hyper-inflation. We certainly have sufficient historical data from the Nigeria experience to now show much more persuasively how the rapid devaluation of the naira and massive public sector spending have consistently fueled runaway inflationary cycles ever since the Udoji Awards of 1973 and Babangida's SAP-inspired programs post-1985.

It is tragic that it now takes 160 naira to exchange for 1dollar as opposed to my 1Nigerian naira that exchanged for 1.85 US dollar when I first came to the U.S. in 1975 or for 1.70 when I returned in 1980. We need our public policy institutes like OAIC to use much more solid data drawn from their own economic modeling to show why the course being pursued by the CBN does not in any way serve the interest of the Nigerian state or it's people. It seems to me that as rational theorists and practitioners Malam Sanusi and the brainiacs at CBN are more likely to engage with other intellectuals of differing viewpoints only if we produce compelling data to dissuade them from their ruinous course."

- Folu Ogundimu

I agree 100 percent with this assessment. It is hard to make an informed judgement about these things when even our brightest minds cannot use data to make their points. The data is not there because we are averse to the hard work of producing it, preferring to loot the resources meant for mining them. We may be stuck.

- Ikhide

Stalk my blog at http://www.xokigbo.com/

Follow me on Twitter: @ikhide

Join me on Facebook: www.facebook.com/ikhide

From: Femi Segun <soloruntoba@gmail.com>
To: USAAfricaDialogue@googlegroups.com
Cc: Samuel Oloruntoba <soloruntoba09@gmail.com>
Sent: Tuesday, August 28, 2012 4:31 AM
Subject: Fwd: USA Africa Dialogue Series - CBN's new N5,000 Note, A step in wrong direction - Institute

Afolayan,

Please find the report from Professor Adigun Agbaje as posted on this forum. Good enough that the Senate has promised to stop it until they are fully convinced of the merit of the proposed policy, for which according to reports, a whooping #40billion has been voted of its implementation. Let's hope they don't get intimidated into submission by Mallam Sanusi's aristocratic display of intellect and his zombie economics' (apology to Ben Fine) statistics.

Best

---------- Forwarded message ----------
From: Adigun Agbaje <adigunagbaje@yahoo.com>
Date: Sat, Aug 25, 2012 at 9:03 PM
Subject: USA Africa Dialogue Series - CBN's new N5,000 Note, A step in wrong direction - Institute
To: "usaafricadialogue@googlegroups.com" <usaafricadialogue@googlegroups.com>

Attached please find a press statement as well as details of a Report
expressing the considered view of the Obafemi Awolowo Institute of
Government and Public Policy, Lagos, on the above subject.

Thank you. Warm regards,

Prof Adigun Agbaje,
Director-General
Tel: +234 (0)808 762 2560
+234 (0 806 024 3171
Other Email address: adigun.agbaje@obafemiawolowoigpp.com

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Wednesday, August 29, 2012

RE: Fwd: USA Africa Dialogue Series - CBN's new N5,000 Note, A step in wrong direction - Institute

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