jay bee:

@ Sag,
It seems you are on a one man mission to skool this loons. Hope you going to save the remaining fire in ya belly for footie today sha cos we need you marshalling our defense.

Just to add to the quote, the UK government even went as far as harassing the RBS board so they can reverse fred the shred's excessive pension pot.

Bruv, don't mind this fools. I will see you at 11.

Beaf:

A liar is the closest thing to a thief.
I challenge you to provide links to every one of their sack stories and who sacked them. When people resign in the UK, idiots in Nigeria carry rumuors that they were sacked (in this Internet age) .
Were you born an idiot or something? You've been raining abuses, yet foul language and can only come up with lies? Is this the best those paying you can come up with?
Boy, you are boft daft and dishonest.

Fool.

slowpoke, if you know nothing, shut the Bleep up.

They tell them to resign otherwise they would not provide the funds.

Have you seen any bank in the West that has had to be bailed out by the Central bank without the CEO resigning. Illiterate slowpoke, if you have please name it.

Sagamite:

slowpoke, if you know nothing, shut the Bleep up.

They tell them to resign otherwise they would not provide the funds.

Have you seen any bank in the West that has had to be bailed out by the Central bank without the CEO resigning. Illiterate slowpoke, if you have please name it.

What a fool you've turned out to be. You gave Western bank execs as examples, then lied that some of them had been sacked; you even provided names! Everything you said turned out to be a lie.

A liar is the closest thing to a thief.

Listen boy, pick your lies better next time. Mental midget.

@jay bee and Sag, I agree with you guys. I just wonder why people especially here in Nigeria would want to add any unintelligent twist to what's so obvious often inducing sentiments into a subject like this. Beaf probably attends the same church with Erastus!

@Ayokunle07

Dem don pay una, abi? Agents of "rebranding".

Beaf:

What a fool you've turned out to be. You gave Western bank execs as examples, then lied that some of them had been sacked; you even provided names! Everything you said turned out to be a lie.

A liar is the closest thing to a thief.

Listen boy, pick your lies better next time. Mental midget.

slowpoke, name a bank that the government bailed out and left the management in charge.

You want to demonstrate knowledge you don't have?

Obama even sacked the head of GM (a firm not holding public savings) before bailing out.

FOOL!

common guys u dont expect everybody to be thinking at the same wavelength.

Can't you guys see what is going in America? Some people don't want free health care. To the extend that they recruited a Tory MP from UK to campaign for them. Saying that NHS is the worst thing that ever happened in Britain.

Some ppl are just like that. They never accept the truth nor want to be told they are wrong. They fight till they die

Sagamite:

slowpoke, name a bank that the government bailed out and left the management in charge.

You want to demonstrate knowledge you don't have?

Obama even sacked the head of GM (a firm not holding public savings) before bailing out.

FOOL!

gay. You are so blind that you can't see the difference? Hint, hint GM had already been bailed out by US govt over and over with billions of US dollars (I know you're daft, but "billions" is really, really big). The govt owned GM, but I guess you're too stupid to understand that! I'm still challenging you to provide a link to this:

Are you bleeping high??

Adam Applegarth - CEO Northern Rock
David Baker - Deputy chief executive
Keith Currie - Treasury Director
Andy Kuipers - Sales and Marketing Director


Fred Goodwin - CEO RBS
Tom McKillop - Chairman

Are you bleeping high? You think they would put money in those firms and leave the same guys that messed it up to manage it?

A liar is the closest thing to a thief.

What a brainless fart! http://online.wsj.com/article/SB124385428627671889.html

Beaf:

gay. You are so blind that you can't see the difference? Hint, hint GM had already been bailed out by US govt over and over with billions of US dollars (I know you're daft, but "billions" is really, really big). The govt owned GM, but I guess you're too stupid to understand that! I'm still challenging you to provide a link to this:

A liar is the closest thing to a thief.

What a brainless fart! http://online.wsj.com/article/SB124385428627671889.html

slowpoke, so you finally agree that the US government sacked the CEO of a private institution?

Retard, and £1.6bn is not really, really big even by western standard, talkless of Nigeria? What kind of slowpoke are you?

Fool, these is excluding the billions that have been used to bail them out in the last few months.

Cretin, you want a link? Here is one:

http://www.wired.com/autopia/2009/03/obama-to-wagone/

Now show me a link of a bank that the government had to bail out and left the management.

gay. The US government was the biggest shareholder. I don't know if you're so illiterate that you've actually put the figure at only £1.6 billion, don't they get news in the area you live?

G.M. and Chrysler have almost exhausted the combined $17.4 billion in federal aid they have received since December. G.M. has asked for up to $16.6 billion more, and Chrysler has requested another $5 billion.

http://www.nytimes.com/2009/03/30/business/30auto.html

Anyway, total aid GM got was in the region of $50 billion US. . . Whats Nigeria's budget?

and £1.6bn is not really, really big even by western standard, talkless of Nigeria?

Damn! And there I was breaking it down into half-wit sized bits for your consumption! If "billion" wasn't a really, really big number; it would be more common to find. To complicate things a bit for you simple mind, $50 billion is really, really much bigger than £1.6 billion.

A liar is the closest thing to a thief.

Run along boy.

Beaf:

gay. The US government was the biggest shareholder. I don't know if you're so illiterate that you've actually put the figure at only £1.6 billion, don't they get news in the area you live?
http://www.nytimes.com/2009/03/30/business/30auto.html

Anyway, total aid GM got was in the region of $50 billion US. . . Whats Nigeria's budget?
Damn! And there I was breaking it down into half-wit sized bits for your consumption! If "billion" wasn't a really, really big number; it would be more common to find. To complicate things a bit for you simple mind, $50 billion is really, really much bigger than £1.6 billion.

A liar is the closest thing to a thief.

Run along boy.

Retard, the £1.6bn sum is what CBN is injecting into the 5 banks, fool!

And that is almost 10% of our annual budget, slowpoke.

If the government had chosen to take shares in the banks when providing the funds they would have got close to 100% of the bank, cretin.

If you don't want the state to interfere in your business then you will not ask for funds and you will be solvent.

Now, show me your link.

Sometimes i find it difficult that people as intelligent/matured as we all claim to be will chose to insult and name calling to air their view. Guys we can do better than insulting each other when such an important topic is being discused.

@Topic,

Sir Fred and Mr Applegarth were not ask to go for early retirement(They were not sacked) by Malvin King rather the Board of the two banks hence they are still entitled to their pensions but now at a reduced rate due to the age and not the circumstance they left.

What i don't understand from the action of CBN Gov is who owns the banks now and where and when was this fund (400B) made available. He might have good intentions but its only the end that will justify the means.

olabukola:

Sometimes i find it difficult that people as intelligent/matured as we all claim to be will chose to insult and name calling to air their view. Guys we can do better than insulting each other when such an important topic is being discused.

@Topic,

Sir Fred and Mr Applegarth were not ask to go for early retirement(They were not sacked) by Malvin King rather the Board of the two banks hence they are still entitled to their pensions but now at a reduced rate due to the age and not the circumstance they left.

What i don't understand from the action of CBN Gov is who owns the banks now and where and when was this fund (400B) made available. He might have good intentions but its only the end that will justify the means.

I have no patience for ethnocentric bigots that only see things through an ethnic lense and never the objectivity lens. If you want to educate them, fine, I think insulting them and ridiculing their intelligence works better as their whole life is based on superiority by association and deluded perception of importance/achievement by such association.

In regards to the UK CEOS, mate, believe me, they were pushed by the state once they are seen as irresponsible. In most of the meetings government always ask for resignation if you are asking for taxpayers funds to allay anger of taxpayers.

We can not be trying that attempt of resignation request in somewhere like Nigeria because our people are not principled enough to resign on anything (even if you have a picture of them in embarassing positions doing rituals).

If the government do not sack them, important shareholders would not as long as there is a way to save there own funds 100% and leave ordinary Nigerians to bear the brunt, ala failed banks in the 90s.

Good job there is a law to sack them.

Sagamite:

I have no patience for ethnocentric bigots that only see things through an ethnic lense and never the objectivity lens. If you want to educate them, fine, I think insulting them and ridiculing their intelligence works better as their whole life is based on superiority by association and delude perception of importance/achievement by such association.

In regards to the UK CEOS, mate, believe me, they were pushed by the state once they are seen as irresponsible. In most of the meetings government always ask for resignation if you are asking for taxpayers funds to allay anger of taxpayers.

We can not be trying that attempt of resignation request in somewhere like Nigeria because our people are not principled enough to resign on anything (even if you have a picture of them in embarassing positions doing rituals).

If the government do not sack them, important shareholders would not as long as their is a way to save there own funds 100% and leave ordinary Nigerians to bear the brunt, ala failed banks in the 90s.

Good job there is a law to sack them.

Oh yeah? You got on this thread swearing and abusing because you thought bullying would cover your lies. It took me time before I started abusing you as well. Now you've started twisting an already twisted story again!

A liar is the closest thing to a thief.

Financial experts give CBN knocks
By DURO ADESEKO, RACHAEL AGUNTA and DENNIS UGBUDIAN
Saturday, August 15, 2009


CBN Governor, Sanusi
Photo: The Sun Publishing
More Stories on This Section
Financial experts have expressed reservations about the take-over of five banks by the Central Bank of Nigeria (CBN), saying that such action would send shockwaves in the banking sector.
They said that the CBN should have stepped into the matter affecting the banks quietly instead of the brazen manner it was done.
Those who spoke are Prof Sam Aluko, former economic intelligence adviser to the late Head of State, Gen Sani Abacha; Prof Herbert Orji, former managing director of Progress and Lead banks and Mazi Okechukwu Unegbu, former president of the Chartered Institute of Bankers.

Prof Aluko said: “The dissolution of boards of directors of the five banks came as a shock. The Central Bank of Nigeria should not have done that. The CBN is expected to show confidence in the banking industry. The Union Bank is one of the outstanding banks in the country. I don’t think what CBN has done is right. They should have related with the banks confidentially and it should have been a matter between the CBN and the banks without making it public.

“The Federal Government pressurized banks to loan out money for construction and building, etc. The banks were compelled by government to loan out money to people to enable them to buy public assets. It is wrong for the CBN to wake up and sack boards of directors. You don’t just wake up and sack people. You should give them one, two or three warnings before you sack people.
“What the CBN has done portends dangerous trend to our public system. The banks were forced to take over weak banks. It is a hang-over of taking over weak banks.

The banks should now look inward and consolidate themselves. That a bank is large does not mean it is a good bank. They should look into their managerial and administrative structure. It is a hang-over of consolidation of banks.”

Speaking also, Prof. Herbert Orji said: “For the Central Bank of Nigeria (CBN) to dissolve the boards of directors of the five banks means they had market intelligence and that the new management will have more value than the existing board and management. The CBN feels that the risks aspect of these banks must undergo total re-engineering to meet international practice. Secondly, the CBN may also believe that the existing board and management have existed long enough and must have done their best and the banks need new people with fresh idea to come up and make their own contributions.

“Thirdly, the CBN probably expect the board and management to raise the necessary equity fund to replace the massive reduction in the equity profile of those banks as a result of non-performing risk assets.
“Finally, it maybe the CBN way of restoring banks under economic difficulty. The banks not currently affected should pay sufficient attention to existing prudential guidelines and requirement, with regards to weak asset management both nationally and globally.”

In his reaction, Mazi Okechukwu Unegbu said: “I think the Central Bank of Nigeria (CBN) needs to be a little bit covert in the way they handle this kind of issue. It tends to send wrong signal to the system. Publication can be very powerful. When it was published yesterday that one of the banks had problems, many shareholders acted in the stock market. What CBN has done is not unusual but the method adopted is wrong. The banks should have been invited and told to remove their boards and management and this would later be announced as normal management change to maintain confidence in the system.

“The Union Bank is a big and strong bank. The public should not see the five banks as dying and collapsing. The banks are not dying. What happens is that non-bankers destroyed the principle of banks. The banks should appoint creditable bankers to manage their affairs. Marketing alone is not banking. There are lots of conflicting interests to be taken care of by the banks. You have to take care of government, shareholders, maintain liquidity and take care of the interest of the global community. The banks should manage conflicts in such a way that there would be confidence in the system.”

IGWE_USA:

Financial experts give CBN knocks
By DURO ADESEKO, RACHAEL AGUNTA and DENNIS UGBUDIAN
Saturday, August 15, 2009


CBN Governor, Sanusi
Photo: The Sun Publishing
More Stories on This Section
Financial experts have expressed reservations about the take-over of five banks by the Central Bank of Nigeria (CBN), saying that such action would send shockwaves in the banking sector.
They said that the CBN should have stepped into the matter affecting the banks quietly instead of the brazen manner it was done.
Those who spoke are Prof Sam Aluko, former economic intelligence adviser to the late Head of State, Gen Sani Abacha; Prof Herbert Orji, former managing director of Progress and Lead banks and Mazi Okechukwu Unegbu, former president of the Chartered Institute of Bankers.

Prof Aluko said: “The dissolution of boards of directors of the five banks came as a shock. The Central Bank of Nigeria should not have done that. The CBN is expected to show confidence in the banking industry. The Union Bank is one of the outstanding banks in the country. I don’t think what CBN has done is right. They should have related with the banks confidentially and it should have been a matter between the CBN and the banks without making it public.

“The Federal Government pressurized banks to loan out money for construction and building, etc. The banks were compelled by government to loan out money to people to enable them to buy public assets. It is wrong for the CBN to wake up and sack boards of directors. You don’t just wake up and sack people. You should give them one, two or three warnings before you sack people.
“What the CBN has done portends dangerous trend to our public system. The banks were forced to take over weak banks. It is a hang-over of taking over weak banks.

The banks should now look inward and consolidate themselves. That a bank is large does not mean it is a good bank. They should look into their managerial and administrative structure. It is a hang-over of consolidation of banks.”

Speaking also, Prof. Herbert Orji said: “For the Central Bank of Nigeria (CBN) to dissolve the boards of directors of the five banks means they had market intelligence and that the new management will have more value than the existing board and management. The CBN feels that the risks aspect of these banks must undergo total re-engineering to meet international practice. Secondly, the CBN may also believe that the existing board and management have existed long enough and must have done their best and the banks need new people with fresh idea to come up and make their own contributions.

“Thirdly, the CBN probably expect the board and management to raise the necessary equity fund to replace the massive reduction in the equity profile of those banks as a result of non-performing risk assets.
“Finally, it maybe the CBN way of restoring banks under economic difficulty. The banks not currently affected should pay sufficient attention to existing prudential guidelines and requirement, with regards to weak asset management both nationally and globally.”

In his reaction, Mazi Okechukwu Unegbu said: “I think the Central Bank of Nigeria (CBN) needs to be a little bit covert in the way they handle this kind of issue. It tends to send wrong signal to the system. Publication can be very powerful. When it was published yesterday that one of the banks had problems, many shareholders acted in the stock market. What CBN has done is not unusual but the method adopted is wrong. The banks should have been invited and told to remove their boards and management and this would later be announced as normal management change to maintain confidence in the system.

“The Union Bank is a big and strong bank. The public should not see the five banks as dying and collapsing. The banks are not dying. What happens is that non-bankers destroyed the principle of banks. The banks should appoint creditable bankers to manage their affairs. Marketing alone is not banking. There are lots of conflicting interests to be taken care of by the banks. You have to take care of government, shareholders, maintain liquidity and take care of the interest of the global community. The banks should manage conflicts in such a way that there would be confidence in the system.”

  The fact remains that Sanusi had executed a bad corporate coup d'etat which is a bad omen for the Nigerian economy, especially in this period
  of global economic recession.

   Even at the early stage of the recession when Fredie mac, fannie mae, JP morgan and AIG were in financial kaput, Ben Bernanke and Henry
   Paulson quietly injected billions of dollars into these banks so as to prevent a total collapse of the American economy.Despite all the bail outs,
   how many of the Amercan bank and automobile CEOs were SACKED? To the best of my knowledge, Jim Wagner of general motors honourably
   resigned so as to pave a way for his company to recieve the bail out money, he wasn't SACKED!!
   
   But on a second thought, it's only in Nigeria where this kamikaze attitude towards sensitive national issues exist.

Ibime:

Guy, stop making a fool of yourself. . . . Sir Fred the Shred as well as many others have been sacked by Mervyn King and Gordon Brown. . . . not to mention Obama sacking the CEO of general motors. . . . once again, I gbadun Sanusi for this move!

Ibime, my man, we are together on this.
every voodoo banker must be chased out of town;Atuche and Elumelu watch your backs Sanusization is on the way.
Ibime, how far? Soboma don accept amnesty o.
gow you see the amnesty drama?
pls don't derail this thread.

IGWE_USA:

  The fact remains that Sanusi had executed a bad corporate coup d'etat which is a bad omen for the Nigerian economy, especially in this period
  of global economic recession.

   Even at the early stage of the recession when Fredie mac, fannie mae, JP morgan and AIG were in financial kaput, Ben Bernanke and Henry
   Paulson quietly injected billions of dollars into these banks so as to prevent a total collapse of the American economy.Despite all the bail outs,
   how many of the Amercan bank and automobile CEOs were SACKED? To the best of my knowledge, Jim Wagner of general motors honourably
   resigned so as to pave a way for his company to recieve the bail out money, he wasn't SACKED!!
   
   But on a second thought, it's only in Nigeria where this kamikaze attitude towards sensitive national issues exist.

Prof. Aluko is almost senile, so i doubt his opinion.
prof Herbert Orji are you joking? the same guy that ruined progress bank.
abeg free me joo

IGWE_USA:

  The fact remains that Sanusi had executed a bad corporate coup d'etat which is a bad omen for the Nigerian economy, especially in this period
  of global economic recession.

   Even at the early stage of the recession when Fredie mac, fannie mae, JP morgan and AIG were in financial kaput, Ben Bernanke and Henry
   Paulson quietly injected billions of dollars into these banks so as to prevent a total collapse of the American economy.Despite all the bail outs,
   how many of the Amercan bank and automobile CEOs were SACKED? To the best of my knowledge, Jim Wagner of general motors honourably
   resigned so as to pave a way for his company to recieve the bail out money, he wasn't SACKED!!
   
   But on a second thought, it's only in Nigeria where this kamikaze attitude towards sensitive national issues exist.

Nigeria is not USA and USA cannot be Nigeria. We can use whatever lesson there is to learn from this brave move by a CBN gov. Most of these loans were non collateralized and the desperate argument by Akingbola that the sums involved being too vast (esp with respect to petroleum product importation), does not wash.

It is hoped that bank CEOs will behave more responsibly in a country noted for official impunity. Nigerians will be dumbfounded when the true revelation comes to light on what parcentage of these bad debts is directly traceable to these directors.

The German chancellor will sign into law a legislation dat will allow germany banking regulator to sack any unfit CEO

In other not to create chaos in the market the American government did not openly sack the CEO's  of the companies it gave bailout money to but they were forced to resign which they did, Obama was visible angry when money meant for bailout was used to payout some of these CEO's, sanusi has the right by the BOFIA act to remove these people and they also have a right to defend themselves which unfortunately they weren't given, but the fact still remains that sanusi has the legal right to do what he did and the money injected into these banks are tier 2 money for just shoring up their bases NOT buying up the banks as some of you think, most of the banks were controlled single handedly by these people and even the board could not force some of them to go if they wanted to because they were all culpable in this, the CBN has the right to protect investor's money and i believe it took the right step regarding this action.

akintun:

The German chancellor will sign into law a legislation dat will allow germany banking regulator to sack any unfit CEO

Then you will see all of them jumping and shouting that we should do the same.

We should only follow white men, never lead them.

The fact remains that Sanusi had executed a bad corporate coup d'etat which is a bad omen for the Nigerian economy, especially in this period
of global economic recession.

Even at the early stage of the recession when Fredie mac, fannie mae, JP morgan and AIG were in financial kaput, Ben Bernanke and Henry
Paulson quietly injected billions of dollars into these banks so as to prevent a total collapse of the American economy.Despite all the bail outs,
how many of the Amercan bank and automobile CEOs were SACKED? To the best of my knowledge, [b]Jim Wagner of general motors honourably
resigned [/b]so as to pave a way for his company to recieve the bail out money, he wasn't SACKED!!

But on a second thought, it's only in Nigeria where this kamikaze attitude towards sensitive national issues exist.

if you read the news or even other threads you will find that soludo already did this with the soft loans he was doling out.

at1$ 156 - 160N we have at least 2 billion dollars being injected.

if previous threads you've been following, you'd have haed all the crazy antic intercontinetal was pulling earlier this year - they had an 'ATM outage' on a weekend, they tried to upp the minimum account balance of depositors , it was clear they were in trouble.

GTB and Access are chasing virgin nigeria and AP respectively. going by the rumour mill, MS ibru loans were partly to her proxies - so how can she collect. you can be sure that the contractors building their head office are doing it with oceanic bank loan ( gotta love naija biz)

Ordinarily this shouldn't be a problem (provided the Fed Gov actually bailed these banks out with billions of dollars, and own majority shares in them). These are private corporate financial institutions! They lose all that private stuff only if the government owns majority shares in them or gave that as condition for bailing them out(which the companies reserve the right to reject in a normal capitalist economy) , then everything becomes possible. It appears not the be the case here (we never heard that the government owns these banks or gave that condition for bailing them out, unlike what happened in the States). This action is only legitimized by the military decree re-codified Nigerian-style in 2007. This is really unprecedented and it may all be about the same "northernization" of everything in Nigeria.
The proof to this allegation will come in the form of replacements to these sacked managers. Mark my word, they will all or nearly be all northerners!
Let's just watch!

the move is draconian- that's the main problem here.

Sagamite- majority of the people you used as examples, were asked to resign.

There's a big difference between that and being forcefully sacked like a common burger flipper.

The underlying problem, as usual, is something we lack in Nigeria- understanding the basic concept of human rights.

^^^^

i've said it before - go through the media reports , and you will find they had been given soft loans by soludo.

people with a sense of honour , integrity or shame would have resigned then. rather, they kept up the sham of best bank number one bank, even going as far as to organize awards for themselves.

if sanusi had given these non performers this cash injection without doing this, we'd be at the same spot six months later. we can see access bank and gtb chasing their debtors. oceanic and co have been silent all this while.

tpiah*:

the move is draconian- that's the main problem here.

Sagamite- majority of the people you used as examples, were asked to resign.

There's a big difference between that and being forcefully sacked like a common burger flipper.

The underlying problem, as usual, is something we lack in Nigeria- understanding the basic concept of human rights.

If you are being asked to resign otherwise the funds would not be provided to save your firm because they don't have confidence in you, then effectively you are being sacked!

If you refuse, the funds will not be provided and your firm would fail, so you lose your job anyway and even have more heat on you for being selfish and not sacrifficing yourself to save the firm after you f'ed up in the first place.

So mate, asking you straight up to resign is just an oyinbo gloss over of "Sir, you are fired!".

That is what happens in these western firms.

In Nigeria, the morons would not even have the principle to resign, they would run from one godfather to the next to step in and protect them. They will say it is their jealous enemies that are after them or it is because they are of one tribe or the other. So our having a law that beats this, technically, is what I call genius and we should be proud we are setting a lead for once, rather than imitating oyinbo stupidly and failing.

tpiah*:

the move is draconian- that's the main problem here.

Sagamite- majority of the people you used as examples, were asked to resign.

There's a big difference between that and being forcefully sacked like a common burger flipper.

The underlying problem, as usual, is something we lack in Nigeria- understanding the basic concept of human rights.

Read Sanusi's interview I posted on this page or last. These CEO's knew since October that they had done something wrong. They knew they will be caught after Sanusi mention that audit will be carried out. but instead of resigning they thought the typical Nigeria thing, run to he president and baba in ota to make sure we are not removed.

IGWE_USA:

  The fact remains that Sanusi had executed a bad corporate coup d'etat which is a bad omen for the Nigerian economy, especially in this period
  of global economic recession.

   Even at the early stage of the recession when Fredie mac, fannie mae, JP morgan and AIG were in financial kaput, Ben Bernanke and Henry
   Paulson quietly injected billions of dollars into these banks so as to prevent a total collapse of the American economy.Despite all the bail outs,
   how many of the Amercan bank and automobile CEOs were SACKED? To the best of my knowledge, Jim Wagner of general motors honourably
   resigned so as to pave a way for his company to recieve the bail out money, he wasn't SACKED!!
   
   But on a second thought, it's only in Nigeria where this kamikaze attitude towards sensitive national issues exist.

Prof. Aluko should name the banks that used the money for infrastructure? Were they not giving the money to the big men in the society that were dealing with oil, or competing on my jetty is bigger than your jetty, or giving loans to people, employees to buy shares of their own banks to raise the share price?

my grouse with sanusi was the timing of these, why hastily announce in a draconian manner the sack of 5 ceos when a comprehensive audit f all the banks werent announced.why spare zenith. bad loans ,well tell me about the loan first bank where he presided over gave to adenugas failed bid $$$$, would keep my finger crossed though.i fear at a time the market is volatile, where foreighn investors are gradually coming back. the effect of this when our Fg is bancrupt of Morals, Leaders, and cash.

sartorius:

my grouse with sanusi was the timing of these, why hastily announce in a draconian manner the sack of 5 ceos when a comprehensive audit f all the banks werent announced.

See my theory here:

https://www.nairaland.com/nigeria?topic=309802.msg4358351#msg4358351

sartorius:

why spare zenith. bad loans ,well tell me about the loan first bank where he presided over gave to adenugas failed bid $$$$,

Because a bank has a bad loan on its books is not a problem as long as they have enough capital provisions to remain solvent. The 5 defaulters obviously were hardly solvent as they relied on funding from CBN to stay operational.

Zenith and First Bank obviously proved they had the muscle to deal with their bad debts. There is no top bank in the world that does not have bad debt, it is their ability to survive without repayments of those debts that counts.

sartorius:

would keep my finger crossed though.i fear at a time the market is volatile, where foreighn investors are gradually coming back. the effect of this when our Fg is bancrupt of Morals, Leaders, and cash.

Investors love nothing better than transparency and good, competent governance.

I FIND IT VERY DISTURBING THAT IN TRYING TO PROVE A POINT PEOPLE RESORT TO THE USE OF FOUL LANGUAGE IN A PUBLIC FORUM. IT IS A SIGN OF IMMATURITY AND INSENSITIVITY TO THE FEELINGS OF OTHERS.

I STRONGLY URGE THE PEOPLE INVOLVED TO DESIST FROM THIS ACT.

LETS ARGUE LIKE REASONABLE PEOPLE.