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A lesson from Nigeria?

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  • 19-08-2009 11:04pm
    #1
    Davao8000
    Registered Users Posts: 53 ✭✭


    I know the title may sound strange with Nigeria being the home to a group of well-known scammers but Nigerian police have arrested three chief executives plus one other high-ranking official of major banks. The bosses are being questioned over the bad loans taken on by their banks which totalled $7.6bn.

    The regulator has argued that weak governance left the banks so undercapitalised that they posed a threat to the banking system in Nigeria.

    More details on: BBC news

    Will we every get a regulator like this here in Ireland?


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    #2
    Sand
    Registered Users Posts: 12,588 ✭✭✭✭Sand


    Well, its now a known fact that Nigeria is stronger on corporate corruption than Ireland. I hope when the next person objects to Ireland being compared to Zimbabwe and other 3rd world banama republics that they consider that.


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    #3
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    Still waiting for the first arrest here in this advanced 1st world economy, ridiculous ain't it?


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    #4
    AlekSmart
    Registered Users Posts: 14,005 ✭✭✭✭AlekSmart


    It`s interesting that over on another Nigerian related thread (now Locked) there was a strong concensus that Nigeria was some awful,tribal place full of wild razor wielding savages ready to commit fiendish attacks on young girls.

    The Nigerian Ambassador at one point officially intervened and offered strong guarantees as to the safety of the principal individual involved.

    Cue the assembled rabble to shout down the Ambassador and to generally do-down the autonomous Nigerian Government (No Saints either,but equally deserving of comparisons with our own Native elite).

    Now,in this matter we see once again evidence of Nigerian self governance at least attempting to put on a show and pretty much succeeding !

    The names involved in this are the very Top Line in the Nigerian Financial and Banking sector and this is VERY significant evidence that this Regulatory frame work is actually doing its JOB...a far cry from the mixum-gatherum variety of kindofasortofa regulators we espouse here....:mad:

    However,for a significant amount of Irish society we need to cling to the notion of Nigeria and other African States as places that cannot succeed without a dollop of good-old Irish Christian Charity.....Sínn-Féin indeed :D


    Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.

    Charles Mackay (1812-1889)



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    #5
    ei.sdraob
    Closed Accounts Posts: 9,376 ✭✭✭ei.sdraob


    gurramok wrote: »
    Still waiting for the first arrest here in this advanced 1st world economy, ridiculous ain't it?

    its official so

    Nigeria is less corrupt than Ireland :o


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    #6
    ejmaztec
    Registered Users Posts: 24,079 ✭✭✭✭ejmaztec


    ei.sdraob wrote: »
    its official so

    Nigeria is less corrupt than Ireland :o

    Must be time to send them some emails for a change, asking for assistance in getting funds from our deep-fried bank accounts.


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    #7
    ei.sdraob
    Closed Accounts Posts: 9,376 ✭✭✭ei.sdraob


    ejmaztec wrote: »
    Must be time to send them some emails for a change, asking for assistance in getting funds from our deep-fried bank accounts.

    i wouldn't be surprised if NAMA ends up owning property in Nigeria either


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    #8
    Davao8000
    Registered Users Posts: 53 ✭✭Davao8000


    I hope they do have land in Nigeria - may be they'd have to deal with corporate enforcement then...


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    #9
    djpbarry
    Registered Users Posts: 13,104 ✭✭✭✭djpbarry


    I think people are getting ever-so-slightly carried over a few arrests - Ireland still has an awful long way to go before it can be compared to Nigeria in the corruption stakes. According to Transparency International's Corruption Perceptions Index, Ireland ranks as the 16th least corrupt state in the world, with Nigeria way down in 121st place.

    Alas, we still have a thing or two to learn...


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    #10
    ei.sdraob
    Closed Accounts Posts: 9,376 ✭✭✭ei.sdraob


    djpbarry wrote: »
    I think people are getting ever-so-slightly carried over a few arrests - Ireland still has an awful long way to go before it can be compared to Nigeria in the corruption stakes. According to Transparency International's Corruption Perceptions Index, Ireland ranks as the 16th least corrupt state in the world, with Nigeria way down in 121st place.

    Alas, we still have a thing or two to learn...

    2008 i see...

    how much did FF put in that envelope for TI :D


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