biz bone:

young man what is your intention?why this kind of topic?
do u want people to panic?

Allow the guy o!! All his life savings!!
When he was working hard who was there?? Do what you like with your money jare!!

As for depositors, there should be no cause for alarm.

I'm more worried for the shareholders. What may follow now is massive dilution of their holdings. It may soon become a case of "money waka enter latrine".

And look at me FULLY loaded on Oceanic. Big lesson I will never forget.

THERE IS NO CAUSE FOR ALARM. "THE Central Bank of Nigeria (CBN) has reiterated its resolve to ensure a sound banking system in the country by ensuring that the banks increasingly strengthen their risk management processes". ITS A GOOD THING CBN IS PROACTIVE THIS TIME AROUND. PANIC WITHDRAWAL WILL CAUSE RUN ON THE AFFECTED BANKS. SO ACCOUNT HOLDERS IN THE FIVE AFFECTED BANKS SHOULD CONTINUE TO OPERATE THEIR ACCOUNT NORMALLY AS THERE IS NO CAUSE FOR ALARM.

If your money is not genue you can go ahead to withdraw, but if not never worry your money is safer now than ever.

@ poster
Nothing.
There is no cause for alarm.

I am amused by the logic of some of our arguments.

So we believe that it is only 5 banks in Nigeria that have toxic assets that have eroded shareholder's funds.Why are we deceiving ourselves?I still maintain that those that escaped were pretty smart.There are ways you could window dress  your loan portfolio and camouflag them from non-performing to performing.

I still do not understand why someone would one to move his deposit to a "safe" bank.CBN has assured us that all banks are save.With the rescue of the five banks they are even at a stronger position than the so called safe banks whose toxic assets have not been taken care of!

Depositors with any of the 5 banks should sleep without problems.

People who want to move their money to another bank must be very careful because CBN are still in the process of auditing the other banks. Who knows the next CEO/MD to face sack?

There is no course for alarm. It should now be business as usual.

kudos 2 these juys, they did a nice job on corruption

We don't need to move our funds. We should embrace the wind of change that is blowing,this is just the beginning, you have not seen anything.By the time CBN is through with all the banks in NIGERIA, You will now know that, we are not safe.SANUSI knows how they are manipulating their books.THE TIME HAS COME for everyone of them to give account. Is better 4 us to stay with the devil that we know than the angel we do not know.

what is going on will not affect their financial stand really.there is no cause for alarm.

oceanic bank will not give you your money. try withdrawing over 500k tomorrow morning and see

Una de fear? u beta re direct your money o o

Is this a question? If you have a current account with any of the other 5 banks that passed, use cheque and move the money from these other 5 straight to the other. The 400 billion CBN pumped in has since finished now they are thinking of 600 billion; that one too will not go anywhere. It will be like a lake of fire licking up a drop of water.

Oceanic alone has taken fund from depositors (total deposit) to the tune of 835 Billion!  


That alone is more than the 420 Billion CBN is pumping  into the five banks. If every depositor with Oceanic tries to withdraw their money  there isn't much CBNs 420 billion can do.

In banking when u take in money from a depositor its called a liability. Oceanic alone has more liability than the 420 billion and don't get me started on Union or Intercontinental. Remember Union has been taking deposits for about a hundred years now. Imagine how much liability they have. Intercontinental has so many salary accounts (imagine how deposits they have taken from people)

In my opinion, just leave a minimum balance of 50k cause that is the max NDIC insures for.  Move the rest to a savings or fixed -deposit account with  the banks that have passed.

pls lets not pass false information,none of the banks is giong under,cbn governor assures us dat,dont spoil people's business,so some1 else wll not spoil urs.

I totally agree with the poster that said the 5 banks are now the strongest! They have FG funds and will nw aggressively pursue loan recovery with the full backing of the CBN. Let everybody relax! I have substantial funds with Oceanic and Intercontinental and have not witnessed any reduction in service delivery.my suppliers get their money when they present my cheques.anyway let's pray that Lamido doesn't lose steam and continues progressive reforms until our financial sector gets a sound footing.

speeddater:

Oceanic alone has taken fund from depositors (total deposit) to the tune of 835 Billion!


That alone is more than the 420 Billion CBN is pumping into the five banks. If every depositor with Oceanic tries to withdraw their money there isn't much CBNs 420 billion can do.

In banking when u take in money from a depositor its called a liability. Oceanic alone has more liability than the 420 billion and don't get me started on Union or Intercontinental. Remember Union has been taking deposits for about a hundred years now. Imagine how much liability they have. Intercontinental has so many salary accounts (imagine how deposits they have taken from people)

In my opinion, just leave a minimum balance of 50k cause that is the max NDIC will pay u back if the bank goes under. Move the rest to a savings or fixed -deposit account with the banks that have passed.

a dose of common sense. this is wisdom

hammer07:

I totally agree with the poster that said the 5 banks are now the strongest! They have FG funds and will nw aggressively pursue loan recovery with the full backing of the CBN. Let everybody relax! I have substantial funds with Oceanic and Intercontinental and have not witnessed any reduction in service delivery.my suppliers get their money when they present my cheques.anyway let's pray that Lamido doesn't lose steam and continues progressive reforms until our financial sector gets a sound footing.

you guys want to trust a central bank governor word. when was the last time a govt official told you what was true in nigeria? this is a man any well oiled pressure group can move out of office tomorrow. if you really have as much as you said you better cover your back by moving some funds as a matter urgency if you love them that much bring it back after this whole drama.

a friend told me he got a very worrying advice from his bank manager when he asked for transfer of funds to one of the listed banks london office way back 3 months.

in the mean time check out the conspiracy theory i saw online. Almost Nostradamus like (it was posted almost 5 months ago)



http://allafrica.com/stories/200903230006.html





can it be true? God save us in this country o

pray to God for the wisdom to endure and even CBN has given them a guaranteed that there won't be any problem with der money.

I have all my money in INTERCONTINENTAL and now that they have 100 billion extra am even more relieved. They are stronger. Only an illiterate will go and withdraw all his money from a bank that is now stronger and take it to a bank that you don't know their status. Don't you know other banks under audit are currently lobbying for the truth not to be made public, and some will succeed. Even Government has mandated that no Federal Account should be withdrawn from the affected banks.

Wake up man, are u telling me Banks like Unity, Wema etc that were not mentioned are stronger?

Withdraw ya money and buy beer now. You'll thank me later.

@emmajaci

INTERCONTINENTAL had a 100 billion in march but it could not save them, this new billion billion will not save them either. WEMA and UNITY are still being audited so shine eye. This our government says one thing and does another.

What is the Maximum amount guaranteed by NDIC ?

NDIC guarantees only 50000