,mama-gee:

CBN should sell some of the banks in Nigeria, they are a lot of banks there.

naijaking1:

You know what they call somebody selling what doesn't belong to him? Thief

, As at June 4, 2009 when I assumed office as Governor of the CBN, the total amount outstanding at the Expanded Discount Window was N256.57billion most of which was owed by the 5 banks.

A review of the activity at the EDW showed that four banks had been almost permanently locked in as borrowers and were clearly unable to repay their obligations.   .e.t.c

dgreatrock:

ndu_chuks
i see that you are the devil's cbn/sanusi's advocate. a possible accomplice in the bid to ruin these banks, eh?
your smooth pidgin no go fit deceive anybody here

holymike47:

The so-called crime commited by the 5 md/ceo are not worth compared to those of the bankers in the developed economy that crashed recently. lets ask ourselves why these countries did not sack a single bank executive in spite of the magnitude of their perceived crime.

why must you just select 5 banks and put them in your custody why the rest are currently been investigated?

as a matter of fact, all nigerian banks do what the 5 has been said to commit and sanusi know ever since when he was md of first bank.

The other banks will have time to quickly tidy up their messes now and later sanusi may say nothing was found againts them. Is this justice? lets be honest.

The truth will definately be unveiled.

Why was vanguard the only newspaper of its category that was not invited to follow sanusi to UK?

Lets open our eyes o, something definately is going on.

i personally know so many banks that are far more worse that the indicted 5 banks.

dgreatrock:

cc: ndu_chuks
finally, who know me wey dem go give me loan? no be una wey e be oga dem dey ^sakpa all our pepper go obodo oyinbo?

tunde300us:

@ ndu chuks: I tut being accused is different from being guilty,y do u want any1 to start saying things they re not 100% sure of ,unless ofcourse ure CBN,EFCC,AND THE COURT put together.
This CEO'S have been charged to court for this offences,but no one here has the right to say they re guilty. That is why so many ppl think there is so much to it than meets the eye.
Let due process take its cause and we will see how they will be charged,am sure maybe N10,000 like the case of tafa etc

ndu_chucks:

@naijaking1: you know say dat kind decision no go be based on lies. no be only Sanusi make de decision, the CBN board members join make the decision. besides, I no here the fired CEOs dispute de fact say dem don broke.

naijaking1:

I see say you be the only one in Nigeria who doesn't know that one of Sanusi's first action was to fire the 2 CBN board memebers who did not agree with him.

tunde300us:

@ ndu chuks: I think u write nd read in a haste.
you gree say the fired CEOs dey responsible for those bad loans or na Sanusi way make dem gi out de bad loans? make we focus on that one first.
That was the question i was refering to when i made that statement,nd like i keep saying how did sanusi come about the assertion dat those were the worse 5 when he just got the report of the oda 14 som dayz back.
I smell a rat somewhere or its just a case of hasty conclusions

tunde300us:

As long as no one can quote any of the CEO's as having said he needs sanusi to salvage his/her bank,and there is no bank in the world that can claim he has not borrowed moni at one time of their existence, bla bla bla

ndu_chucks:

ol' boy, dis one don pass me o. so you want make banks announce to regulatory agency say de banks need to be salvaged before the regulatory agency perform de duty wey dem get authority by law to do, right? i don get your perspective now, you be genius. de ting wey you dey talk is synonymous to this - fire dey burn house, fire brigade put fire out, but una dey talk say fire brigade no follow due process because de owner of de house no call fire brigade to come put out de fire!! Even Einstein sef no fit top ya analysis

I still maintain say cbn get de authority by law to fire de CEOs, de only issue wey I get with Sanusi here na say him dey a bit agressive but sometimes serious problem calls for serious solutions. Na him prerogative to take de action. For those wey dey talk of due process, na due process according to which law? No court don rule say CBN and Sanusi abuse their authority, until then, me go still give Sanusi benefit of de doubt.

Again, CBN and EFCC no be de same agency.

naijaking1:

Mallam, Mallam, Mallam Ndu-Chucks. How many times I call your name
You no know say na Sanusi wey call EFCC on the CEOs? Today, those people are still in jail, because even EFCC self dey above the law.
Sanusi forgot that these banks had boards of directors, shareholders, and even customers when he made his stupid and regretable decision. You'll see, time will tell.

ndu_chucks:

for de upteenth time, na my opinion i dey express for here. de fact say my analysis no favour de way you de tink, no mean say i dey work for CBN or sanusi. make we leave dat matter alone, but why you dey dodge my question? e be like say you no like the truth. Make I ask you de question again, no try dribble me like say you be maradona wey dey take Argentina go de same place wey Naija go end up, as far as world cup qualifications dey concerned.

de simple question:

tell me honestly, you gree say the fired CEOs dey responsible for those bad loans or na Sanusi way make dem gi out de bad loans? make we focus on that one first. if you gree say the CEOs dey responsible, na wettin be the befitting punishment wey dem deserve?

make you no run away o, i dey wait for ya answer.


Why that guy dey call you mallam , maybe no be only me know your true ID

Well, how do you suppose that i ll know if they are responsible

Again, we no be court, make we allow them to decide.

As it stands, only Cbn/sanusi with una na im hold knife, hold yam, anything wen una like make una do.

dgreatrock:

Why that guy dey call you mallam        , maybe no be only me know your true ID Shocked

Well, how do you suppose that i ll know if they are responsible

Again, we no be court, make we allow them to decide.

As it stands, only Cbn/sanusi with una na im hold knife, hold yam, anything wen una like make una do.

ndu_chucks:


i now know say you no dey serious.  if person be CEO of an organization, no be dat person get responsibility for de safeguarding of depositor's monies? if CEO and him board make loan decisions wey bring de bank to its knees, no be de CEO and de board wey responsible? if you no understand dis simple fact, why you come here dey argue?

I know say you sabi de truth but just dey play with people minds here. you no fool me at all. de only sense wey you make na to suggest say make we wait until courts make determinations of culpability. I agree with dat one, in de maintime, CBN deserve benefit of de doubt.  

since you talk say you know my identity because someone call me Mallam,  me sef go assume say you be one of de beneficiaries of de non performing loans. efcc dey look for you  

excelway:

the authorities just have to be extremely careful how they toil with our economy,  this whole issue transcends the banks involved and has its branches in every single economic variable.
secondly our journalist should stop using us,  why not divulge an already public message, afterall, it's still our message and we'll still hear it from other sources,

Jaytee67:

FG may acquire shares in 9 rescued banks
Written by Mohammed S. Shehu, with agency report   
[Minister of Finance]

Minister of Finance
Federal Government may acquire shares in some of the nine troubled banks recently rescued with a N600 billion bailout in the last two months if the institutions fail to recapitalise or find buyers, but are deemed systemically important, the government said yesterdays.

The Finance Ministry said while trying to build confidence in the banking sector, it would aim for successful bank restructuring [/b]which would entail preserving the payment system, ensuring there are functional banks and [b]making sure troubled assets are managed and disposed off appropriately.

“In the event that some of the affected banks are unable to recapitalise and successfully go through a merger and acquisition, the government may acquire shares in such banks, if they are deemed systemically important,” the ministry said in a statement made available to international news agency Reuters.

“Thereafter, government equity will be sold at the earliest possible opportunity.”

Central Bank Governor Lamido Sanusi told Reuters in August his preferred option for the first five banks rescued would be for them to be purchased by other financial institutions.

The Central Bank has injected nearly N600 billion in the nine banks and sacked their senior management for recklessly granting loans and lax governance that left them so undercapitalised they posed a systemic risk.

The bank executives are that of the Union Bank of Nigeria, Intercontinental Bank Plc, FinBank Plc, AfriBank Plc and Oceanic Bank International, Bank PHB Plc, Equatorial Trust Bank Plc and Spring Bank.

The Finance Ministry and the Central Bank have repeatedly said no Nigerian bank would be allowed to fail.


FG may acquire shares in 9 rescued banks
Written by Mohammed S. Shehu, with agency report   
[Minister of Finance]

Minister of Finance
Federal Government may acquire shares in some of the nine troubled banks recently rescued with a N600 billion bailout in the last two months if the institutions fail to recapitalise or find buyers, but are deemed systemically important, the government said yesterdays.

The Finance Ministry said while trying to build confidence in the banking sector, it would aim for successful bank restructuring which would entail preserving the payment system, ensuring there are functional banks and making sure troubled assets are managed and disposed off appropriately.

“In the event that some of the affected banks are unable to recapitalise and successfully go through a merger and acquisition, the government may acquire shares in such banks, if they are deemed systemically important,” the ministry said in a statement made available to international news agency Reuters.

“Thereafter, government equity will be sold at the earliest possible opportunity.”

Central Bank Governor Lamido Sanusi told Reuters in August his preferred option for the first five banks rescued would be for them to be purchased by other financial institutions.

The Central Bank has injected nearly N600 billion in the nine banks and sacked their senior management for recklessly granting loans and lax governance that left them so undercapitalised they posed a systemic risk.

The bank executives are that of the Union Bank of Nigeria, Intercontinental Bank Plc, FinBank Plc, AfriBank Plc and Oceanic Bank International, Bank PHB Plc, Equatorial Trust Bank Plc and Spring Bank.

The Finance Ministry and the Central Bank have repeatedly said no Nigerian bank would be allowed to fail.


http://www.weekly.dailytrust.com/index.php?option=com_content&view=article&id=1457:fg-may-acquire-shares-in-9-rescued-banks&catid=40:cover-stories&Itemid=26

NO MORE 7-POINT AGENDA BUT ONE (NORTHERN PEOPLE'S AGENDA). A fool should be able to discern where these people are heading to. From the appointment of Sanusi Lamido Sanusi to the CBN reform. God will save our country.

Federal Government may acquire shares in some of the nine troubled banks recently rescued with a N600 billion bailout in the last two months if the institutions fail to recapitalise or find buyers, but are deemed systemically important, the government said yesterdays.

oyb:

^^^^^^

its seems tribalism is synonymous with silly.ty

what kind of twisted mind can turn buying of shares in banks  by the federal government (not private individuals, not private companies, not other banks) into a northern agenda?

and the last time  i checked, the daily/weekly trust is a northern newspaper

odd that those abokis would be ratting each other out


i guess a  diseased mind will see conspiracies everywhere

you just can't win - if sanusi folds his hands and lets the banks fail that too will be northern agenda