About to suffer same fate as defunct Skye Bank.

Oba Otudeko doing same thing Tunde Ayeni did..

Insider trading.

First Bank is going going......

It has however been termed Systematically Important Bank, govt will print more money to rescue it- lol

I believe nothing is going to happen to the little money in my account oooooooo because this Bank people I no trust them for anything

The hunter is being hunted

RenaissanceGuy:
Have you ever gone to the bank to withdraw some money and you were told that your money is currently not available because it has was loaned out, and you should come back in a few days' time?

I have been to the bank to withdraw and it was debited and was not paid... and it took me a while to retrieve my money...


This is another way of delaying your money for the loans to be repaid so they can return your cash for you...

Another war

Oil dey your head bro.Enlighteb these ignoramuses typing rubbish up and down.When Oba Otyludeko was Chairman he made sure he secured juicy loan packages for his companies and used FBN money to acquire shares in Bharti Airtel where he was also made Chairman.Now the chickens have come home to roost.

RuudVanNisteroy:
The CBN is trying to make sure Oba Otudeko repays the insider loan he received.Their exposure is close to N85 billion.This is the bank my parents have all their savings. CBN as the regulator has to make sure what happened to Oceanic Bank,Intercontinental Bank and Societies General Bank,doesn’t replay itself due to reckless insider loans that are not being repayed and keep getting restructed without any tangible collateral,should it go bad.

RenaissanceGuy:
Have you ever gone to the bank to withdraw some money and you were told that your money is currently not available because it has was loaned out, and you should come back in a few days' time?

How is that possible

thebosstrevor1:


You like to make up stories.

Cbn is the regulator, it is has the right to approve and fire board members that does not follow the guidelines. That is why it is rear in the Nigerian banking sector to hear about hostile takeovers because the regulators are always watching

Who fires CBN’s terrible Money making policy makers? CBN should not have the right to regulate internal problems of banks as long as their banks capital caps are in order.

CBN in diving in matters that does not concern them. Just my opinion

xtremecr8:
Hmmm. This life ehn!

yes. CBN regulates all commercial banks activities

CBN says don't fire the MD/CEO because that can disrupt the banks recovery at a delicate period. CBN then fires the entire board of directors in the same time?

thebosstrevor1:


You like to make up stories.

Cbn is the regulator, it is has the right to approve and fire board members that does not follow the guidelines. That is why it is rear in the Nigerian banking sector to hear about hostile takeovers because the regulators are always watching

He is not making up stories that thing he said was part of the reason politics was played against Adeduntan. Most people are uniformed

I'm not surprised

Officialhorlah:



https://punchng.com/breaking-cbn-fires-first-bank-directors/

Reversal will soon follow.

Initial gra gra just like BVN & NIN

F*ck regulatory bodies!!!

Terrible, what will happen to the sacked bank directors...

lastclaire4:


He is not making up stories that thing he said was part of the reason politics was played against Adeduntan. Most people are uniformed

But it wasn't the reason, 2 memos were sent to the bank.

1. About the loan
2. About the board transition, it is was written categorically that the former Md retired but the transition process of the new board was not in accordance with Cbn regulations.

It is not as if cbn won't approve the board, they will but they have to do it the right way.

Buhari govt is really silly

RuudVanNisteroy:
The CBN is trying to make sure Oba Otudeko repays the insider loan he received.Their exposure is close to N85 billion.This is the bank my parents have all their savings. CBN as the regulator has to make sure what happened to Oceanic Bank,Intercontinental Bank and Societies General Bank,doesn’t replay itself due to reckless insider loans that are not being repayed and keep getting restructed without any tangible collateral,should it go bad.

The total amount of loan to Otudeko and his related companies has violated single obligor limit.

SouthSouth1914:


Who fires CBN’s terrible Money making policy makers? CBN should not have the right to regulate internal problems of banks as long as their banks capital caps are in order.

CBN in diving in matters that does not concern them. Just my opinion

So who is suppose to regulate activities of commercial banks in the country

Pls how can I post on this platform... I've a lot to update

RuudVanNisteroy:
The CBN is trying to make sure Oba Otudeko repays the insider loan he received.Their exposure is close to N85 billion.This is the bank my parents have all their savings. CBN as the regulator has to make sure what happened to Oceanic Bank,Intercontinental Bank and Societies General Bank,doesn’t replay itself due to reckless insider loans that are not being repayed and keep getting restructed without any tangible collateral,should it go bad.

The only man with foresight. Others on thebthread are blaming Buhari; smh

yanabasee1:
Is first bank a branch of CBN?

Delete this ignorant statement.

yanabasee1:


I have been to the bank to withdraw and it was debited and was not paid... and it took me a while to retrieve my money...


This is another way of delaying your money for the loans to be repaid so they can return your cash for you...

When a bank can not pay customers their money,do you think they will open

thebosstrevor1:


It does not relate with the board change.

The reason why cbn rejected the change have been stated above.

Don't you think Otueke or Otudeko must have Don corleone it?
Behind every great fortune there is a crime.>Balzac

Springboot:

Delete this ignorant statement.

Carry your seriousness go one side... Who the follow you mumu?

post=101239014:

Good to know that our other darling mommy is not affected.
She issa Role Model to us and many Nigerian ladies out there.
We love you mom.

Everybody na your darling Daddy and Mummy.

Na when you go get sense this boy?

indigene:

Don't you think Otueke or Otudeko must have Don corleone it?
Behind every great fortune there is a crime.>Balzac

So what crime has the man committed?

Where in cbn guidelines did cbn says that a chairman can not borrow loan from the bank??

jlinkd78:
This Govt want to make people panic when they have not been able to create anything the only Bank of reference in terms of healthiness is now being fingered with their leprous hand of mismanagement. This CBN that is supposed to be busy printing billions to be shared across the States now wants to crash First Bank, regarded as the Rock of Gibraltar Bank, same way big names like Oceanic and Diamond Banks including Intercontinental went out of space cos of conflict of interests

Must you reason from your anus just because you want to be the first to comment.

Somebody should pls, give an analogy on how this is possible..
systematic one o! that's void of ambiguity

SouthSouth1914:


Who fires CBN’s terrible Money making policy makers? CBN should not have the right to regulate internal problems of banks as long as their banks capital caps are in order.

CBN in diving in matters that does not concern them. Just my opinion

Nigerians are too corrupt, if left alone.

The CBN should always have a strong say in the banking sector atleast in Nigeria.

Fintech is where the CBN should stay away.
They are killing innovation.