having read every comment for now, its evident that people are quick to judge. i am not saying that what they did was right or wrong, i strongly believe that most of us passing these comments will do worse if they ever have an opportunity. Soludo had his ideas and management style which we have seen and now we have the new helmsman at CBN, Having seen how savannah bank and SGBN were treated in the former regime. let us watch as events unfold.

i know him, but i thought he has the heart of a lion, bold and courageous. what happended?

chyjoke1:

having read every comment for now, its evident that people are quick to judge. i am not saying that what they did was right or wrong, i strongly believe that most of us passing these comments will do worse if they ever have an opportunity. Soludo had his ideas and management style which we have seen and now we have the new helmsman at CBN, Having seen how savannah bank and SGBN were treated in the former regime. let us watch as events unfold.

What is black is black and what is white is white,, It might be hard to believe dude, but the world is what it is, and we are who we are!!!!!

BAC:

Guys , it is too early to come to conclusions. if the man travelled to London on friday do you expect him to be back in a few days?

It is not good to spoil people's image. I am sure this man is a man of integrity working in an environment polluted by crime. Some are commenting on his residence in Ghana, If you have to opportunity to have residence abroad I am sure you will do the same. But as you don't have keep your mouth shut, if not God can never promote you to that level

so guys leave the guy alone. To run a bank is not easy. That the debtors cannot pay the money they owe does not necessarily mean the bankers did not follow due process. And at the end of the day bankers are there to take risk.

So keep your mouths shut. and watch,

Bros, I dont know the depth of your understanding of the banking profession. The CBN as a regulator, and through the provisions of the banking laws, found these people wanting in the manner they disbursed those credits. There were also cases of conducts inimical to the banking profession alleged against them. If your man is a person of high integrity (as you appear ready to die for), now is hardly the appropriate time to travel to UK (via Ghana). He is answerable to numerous customers who entrusted their monies to his bank. He has every opportunity to vindicate himself but chose to travel unceremoniously thereby drawing attention and more negative publicity to himself.

It is not easy to run a bank, we know; that is more reason why it should be left to those who should run it well. There is hardly any call to spew curses at people for speaking up about an issue that affects the financial system of a nation.

naijamark:

I am amazed at the level of ignorance shamelessly displayed in public forums like this by Nigerians. Did you guys go to school at all?

How did you pass your comprehension papers when you can not read in-between lines? Read the "passages" again and honestly answer the following questions:

1) Who was Sanusi Lamido Sanusi before he became the CBN Governor? (2 marks)
2) (a) How many commercial Banks do we have in Nigeria? (1mark)
   (b) How many of such banks are affected in this saga (were they picked at random or what)? (1mark)
3) Was any auditing done to their books by any external auditors as obtainable in free societies? (1mark)
4) Was the affected banks pre-informed formally of the imminent sanctions? (2marks)
5) What is more important to CBN, sanction of "affected banks" or recovery of debt? (7 marks)

Why are you asking all these hard questions?

A ha! I know now. You want to test how many people are intelligent on NL

1. Lamidi Sanusi was Lamidi Sanusi before he became the CBN governor. I really am not aware if he has had a sex change in the past
2.(a) I think we had 5 more banks than we had before the CEO sack. Now that the banks are now run by the Federal Government, I think there are 6 Government banks (including the CBN) with the others - at least for now

(b) How do you expect me to know. You never know these things in Nigeria. Conspiracy theorists say other banks are affected, but those owned by the southerners are targeted.
4. Thats a trick question sir. If I say yes, then I become part of the conspiracy, if I say no then I fail. I pass on this question (no puns intended)

5. Bros, your question na for IMF loan. Shuooo
But I think I have an idea why. Its to dash the banks money. Shikena.

hmmmm, we may all die for them in this nation some day. thank God there is God to save us all.

The whole drama look like charade to me. The following questions still baffles me:
1. When did Nigeria law permit someone to accuse another and found him guilt and at the same time acting as the persecutor?
2. Is there nothing like corporate governance in Nigeria anymore; I feel if CBN Governor find anything wrong in any private company there should be a process of alerting the owners and due process will follow?
3. With the aftermath of thing now, if any other banks are found guilty will he be able to sack them any more?
4. Don't people have right to borrow money to do business and follow the agreed time of repayment?
Please those of you praising Sanusi should help answer these questions and I have a strong conviction that Northern hidden agenda is been pursue here. With the latest one been Islamic Banking. Are we in another era of OIC?
GOD HELP NIGERIA!

Who took him to London?

,mama-gee:

Who took him to London?

The Intercontinental GHOST!!

,mama-gee:

Who took him to London?

Information reaching me just now said it was the RCCG jet,

z-murda:

Information reaching me just now said it was the RCCG jet,

Lmao,,,,,

igeakanmu:

i know him, but i thought he has the heart of a lion, bold and courageous. what happended?

You try , heart of lion ko heart of lion ni.

If not for her slow speed even cecilia for don bail comot for country. Does that make them guilty? far from it. Mko won an election and still ran out of the country.

Na small pickin for dis country you go tell say once you are innocent you must face the battle headlong and  not retreat to strategise.

At the moment EFCC is continuing with their investigations and he has gone as far as challenging his removal in court. What more can you ask for?

I will keep repeating myself that Sanusi has prosecuted a good job badly. It will take massive subversion of court process for his actions to be upheld in court.

lets wait and see

z-murda:

Information reaching me just now said it was the RCCG jet,

ehhhh , you don win eehhhhh

seven gbosa for you

na_so:

You try , heart of lion ko heart of lion ni.

If not for her slow speed even cecilia for don bail comot for country. Does that make them guilty? far from it. Mko won an election and still ran out of the country.

Na small pickin for dis country you go tell say once you are innocent you must face the battle headlong and  not retreat to strategise.

LMAO,hahaha.I dey feel you 4 dis one.My people talk say "Vuum ka mma karia statement" (To run better pass to begin dey make statement),Even Ibru's whereabout remains unknown according to latest gist from EFCC spokesperson!!_{we dey look dem anya anya.}

Come back,nothing go happen this is Nigeria,maximum u get fine of 5 million naira

baconline:

Come back,nothing go happen this is Nigeria,maximum u get fine of 5 million naira

sad but true

@Naijamark, Bomi , BAC and their lot.


I may not be a banker, but before I knew what exactly it was, I was reading banking policies and acts and learning the procedures and rules guiding banking operations because I was born into a family of CBN staff. I enter banking halls and tell them the flaws inherent in their operations and they accept cos I have all day to prove and I know banking through and through.


That aside, there are seasoned bankers that I personally know who are on this thread telling you as it is, yet you maintain your stand. You ask them to shut up.


Are you okay? You ask us to wait and see. The windows are broken, the doors rot, the rug decayed, but we should give them more time. The paint is peeled, the walls are cracked, the sewers stink, yet we should wait and see. Do you want the house to collapse on our heads before we sack the engineers? Must the tenants perish before the caretaker will be queried?

Why are you people so against precautions that are taken even too late?

Must a fly mature from the maggot in your face before you realise the soup is bad?

There were people crying out during the consolidation that measures should be put in place, and today when things have gotten so bad, we have the likes of you asking us to let them "live long so their enemies will see what becomes of them". Please learn to live in the world of today and also remind yourselves that these people are not managing their private businesses. Don't apply the knowhow of managing a hair salon, beer parlour, mechanic workshop or a bukka to banks.

We will not wait for 5 people to ruin the lives of millions before we take action. You just align your thought process to the dangers and realities on ground rather than consulting you emotions.

koolchicco:

LMAO,hahaha.I dey feel you 4 dis one.My people talk say "Vuum ka mma karia statement" (To run better pass to begin dey make statement),Even Ibru's whereabout remains unknown according to latest gist from EFCC spokesperson!!_{we dey look dem anya anya.}

hahaha. . . this reminds me of my uni. days.

@nex.

Very good point man.

I have not failed to state that Sanusi did a job intended for general good in a poor manner. My point here is that the intent is most likely right but the procedure is flawed and that leaves sufficient holes for these men to go free. That in itself will leave the entire economy very vulnerable as the CBN will then have serious credibilty battle on its hands. People in the end will not trust the banks neither will they trust the CBN. Did someone say chaos. something like that.

The CBN only came to state this morning that the loan status they used is as at may this year. Oceanic bank's financials was  approved just about 4wks ago where they made provisions to the tune of 40billion. The CBN had every power not to approve that result then , but it was signed. To my mind it is either the CBN approved a wrong result or used a wrong process to audit the banks thereafter. inconsistency.

Secondly in audit process , an audit query can be far different from an audit report. The query which embody the findings of the audit team must be made available to the auditee to respond, after which the auditor may accept the response or not. This was surely not done. The board of CBN sat on an audit query and took decisions on that.

While  audit is ongoing in the 14 banks and some further investigation into the 5 indicted banks , the CBN has already invited bids for the five banks.
Can the CBN categorically tell the actual worth of these banks when the audit and loan repayment process is ongoing?
Is it not looking rather hasty to move this fast in less than 7 days?

Lets give everyone a fair chance  and let law take its due course.

what do we expect in a country where no one cares about the fundamental human right of individuals.

What a coward!! Imagine, he was first to challenge his dismissal in the court of law. Nemesis will soon catch up with him anyway. The same thing goes with Jimoh Ibrahim who's going about granting press interviews to tell the whole world that he's not a debtor. Proud, arrogant but fraudlent persons!!

hmmmm. let's mind what we say, are you sure is not political. This is Nigeria, anything can happen.Anyway, we shall see.

I am fed up of you guys. Bad mouthing someone that has not stated their own side of the story. Do we have to give you a hard knock on the head to get your brains started again? or is it just because it is made in Nigeria brains.

I say lets wait for the truth to be revealed just too early to judge. The press is printing all sorts of rubbish so let wait,

The press is printing all sorts of rubbish YES but neither AKINGBOLA or CECILIA have any thing to say. Why should a bank grant loans to buy its own shares? It is greed that has been exposed; for crying out loud these people were not poor but still they wanted more. Just look at that falcon securities guy; 80 billion. I mean that is criminality of the highest order. CBN has every right to step in before the whole system self destructs. SOLUDO went about it quietly by pumping 100 billion into INTERCONTINENTAL alone and yet it could not save them and that was in march. 4 months later 120 billion is being pumped inside and yet even that now is still not enough and some people are saying AKINGBOLA should still be left there. That guy should be in jail.

well, he can run but one day na one day.most of these bank MDs are not honest and truly what about the so called big men owing the banks billions.have u seen Mr Akingbola when he comes to work.he comes in a bigf convoy like a president.na so security go blocck street for a common bank MD.it's a big shame!!!!! we need serious revolution for here cos if young ppl can get away doing what they do now, wetin our own children go do na!!

Why are you asking all these hard questions?

A ha! I know now. You want to test how many people are intelligent on NL

1. Lamidi Sanusi was Lamidi Sanusi before he became the CBN governor. I really am not aware if he has had a sex change in the past
2.(a) I think we had 5 more banks than we had before the CEO sack. Now that the banks are now run by the Federal Government, I think there are 6 Government banks (including the CBN) with the others - at least for now

(b) How do you expect me to know. You never know these things in Nigeria. Conspiracy theorists say other banks are affected, but those owned by the southerners are targeted.
4. Thats a trick question sir. If I say yes, then I become part of the conspiracy, if I say no then I fail. I pass on this question (no puns intended)

5. Bros, your question na for IMF loan. Shuooo
But I think I have an idea why. Its to dash the banks money. Shikena.

Lets look at this objectively,
What have these people done wrong. We all know the country we live.  judgment before trial.

Sure bad decisions were made, risks were taken but who would have known that the stock market would crash, or oil prices would topple.

Now we know who the debtors are and sooner or later these monies will be returned but by then, the investors would have soaked up the shares at ridiculously low prices which will definitely be bad for we the shareholders.

The question should have been how do we make the banks stronger and not how best to punish and ridicule the MDs of these great institution.

Lets not be quick to judge. Lets see how everything plays out, 

Mr Akingbola is in court now. Let the judicial system take its course.

otokx:

The press is printing all sorts of rubbish YES but neither AKINGBOLA or CECILIA have any thing to say. Why should a bank grant loans to buy its own shares? It is greed that has been exposed; for crying out loud these people were not poor but still they wanted more. Just look at that falcon securities guy; 80 billion. I mean that is criminality of the highest order. CBN has every right to step in before the whole system self destructs. SOLUDO went about it quietly by pumping 100 billion into INTERCONTINENTAL alone and yet it could not save them and that was in march. 4 months later 120 billion is being pumped inside and yet even that now is still not enough and some people are saying AKINGBOLA should still be left there. That guy should be in jail.

Can someone in Nigeria give this guy a hard knock please! Get his brains started. Ask yourself is it a criminal offence in Nigeria to borrow money from the bank and not pay? If you don't know the constituion. Answer is big NO, All bank employees in Naija, watch out , Some of those banks are about to sneeze.

Not only banks though, other sectors will suffer as well. Unemployment will be the order of the day. Mr president you need a knock on the head as well. This people should be solving the problems not creating a mess.

It is a economic crime to swindle investors but it is not a crime to default on a loan or mismanage a bank, if you mess up at a Job u get fired simple,

Nigeria to Nigerians, A lesson from this senerio: If you must still,embezzle or chop money make sure it is not small money ooooooo

@BAC

Loans are secured with collateral. When you go giving "nannies" 13 billion to open a boutique without any security then there is a problem somewhere.