Vanguard reported today that there is a daily increase in capital flight due to the unattractive fixed deposit interest rates to neighbouring countries. wheras nigerian banks offer 3% neighbouring banks like banks in Ghana offer 14%. This is a fallout of the ongoing reforms. Nairanders kindly express your views on this development as it affects the nigerian economy.

I have a friend abroad who has substantial funds in some of the rescued banks. He came accross an article in which sanusi threatened to liquidate the rescued banks if they dont cooperate with the consultants packaging them for sale. He is worried and thinking of flying  down to move his funds to first bank nigeria early  next month. What do you think i advise him as i am not even sure of the future of these banks given   unpredictable reforms. He has funds in Oceanic , Afri bank, Intercontinental and Union bank. Do you think these banks would even last the next three months so that he does not hurry down

my man KC, if your babe did not want you to know where she was , she would easily have told u on the phone that she was in her place . How would u have known she was somewhere else. Corpers behave like brothers and sister at times .They are not in tune with the real world .  Take heart and just tell her not to do it again if that would make u feel better

If u had your facts, u would not have started this thread. Spring bank is the best out of the nine rescued banks. In terms of loss made, spring bank had the lowest loss and lowest non performing assets. Again Spring bank had the least staff casualty as compared with the other nine banks. Spring bank downsized 200 while some of the rescued banks did 1,500. Spring bank has credited the staff accounts of all those downsized but they can only access it after their clearance. Since december, the deposit base of spring bank has continued to rise which is a sign of renewed customers confidence in the bank ( 10% growth since december)

Spring bank has quality staff and it is resilent and has withstood shocks that would have easily made other banks extint. The worst is over for the bank and we can only expect growth as the bank strategises in line with the CBN reforms.

A new finance company has berthed in warri with plans on the way to extend biz to benin , lagos and portharcourt e.t.c very shortly. For now , the company is not interested in deposits as it has surplus liquidity from shareholders.

For now, the focus is to give instant loans to nigerians in paid employment . we have rolled out two products as follows :

I] INSTANT SALARY ADVANCE (ISA) : MAXIMUM OF 50% OF Monthly salary
Turnaround time after application and documentation max of 24 hours.

2] CONSUMER ACQUISITION LOAN (CAL) : 70% funding of consumer asset with a repayment tenor of max 3 months within
salary range.
Our main focus is on bankers, oil company workers and telecom employees. Auto loan and Land acquisition products are still being fine tuned. IF in warri, pls call uche on 08035764662 to book an appointment

Sanusi injected 620billion tax payers money to stabilize banks. Recent reports show that these 5 ceo's have a combined asset/networth of over 3 trillion naira. Would it not have been better if these ceo's were silently forced to recapitalize their banks and made to resign afterwards than the whole noise that has created a crisis of confidence in the banking sector and put foreign banks and international investors on the path of serious caution when dealing with nigeria transactions

Looking back, nigeria had a form of direction under obj and some respect in the international arena ,Though i am not a fan of obj , i am begining to think that if he had continued we would have been better off. it is high time that Nigerians vote in respectable people like pat utomi into office and candidates that go one on one with obama if need be. let me see your views

A friend has adviced me to purchase a 15,000 litre truck which i can use to buy petroleum products from lagos tank farms and sell upcountry. I want nairalanders experienced in this field to advice on the challenges and prospects of this business venture

unrealistic price

you wasted my time. i thot it was at cooperative villa

Obasanjo please help us call umaru .

Nigeria has a lot more oil than Dubai but the leadership in dubai has given their country a lot of mileage through development with their oil revenue and improved the lot of their people. An average dubai citizen leaves in affluence. Now if the sheik of dubai decides to build a seven billion naira palace, it would be taken in good faith by the people because apart from being a status sumbol , it would be a tourist attraction given the country further income. Nigeria is an unsafe country avoided by tourist like a plague, moreover the poverty level of her people is alarming . I can understand the outcry given this background

what a loss. we are all mortals

what a loss. we are all mortals  

i hear the chap was in the toilet for twenty minutes without disturbance. This simply means he could have blown up the plane from the toilet. I suggest that going forward the security authorities should sacrifice privacy and institute some form of security like big brother cameras in the toilet . Nothing is too much to save innocent lives.