When the tide is low, then we can tell those who swarm naked!

Great! Thanks NSE for the initiative

@merengue, Ecobank/Oceanic merger is not going smoothly as u claimed. They have their fair share of the initially integration issues. Please let us approach issues without sentiment. I still maintain we remain calm and allow Access bank to resolve their issues. As for me I have been withdrawing and depositing cash since last week Thursday.

The bank leadership will not sit back and watch service deteriorate. I believe they will completely resolve this issues.

I don't want to be quick be pull down Access Bank because of the events of last week. The question I want us to answer is, what was your experience with the bank (Access) before the merger? If the service level was bad pre the merger then we can conclude that customer service is poor in Access Bank.

In life there are challenges and what count is the ability to overcome such obstacles. Let us give the bank time to work on their systems and see if they can serve us better.

We should not allow emotions to becloud our sense of reasoning.

@OP remember that Access Bank sent sms informing us of the system integration and the possibility of service disruption. We were also informed that the Intercontinental Bank Internet Banking will cease to exist following the integration. Some of us are emotional toward Intercontinental and the fact that the bank no longer exist but let us give Access Bank (the new entity) a case to serve us. It is too early to appraise Access bank.

Full option please

Please I urgently need a 2008 or 2009 Murano (Tokunbo) to buy at a reasonable price.

Openej@gmail.com

Let Sanusi be himself and not like Ribadu. I honestly like what Sanusi is currently doing in the banking system but i hope he is not acting the "northern agenda" as published in Vanguard of 23 March 2009.

You may click on the links below to read the Vanguard stories and let us know what you think.

http://allafrica.com/stories/200903230006.html

[url]http://www.vanguardngr.com/2009/08/15/unanswered-questions-about-bank-mds’-removal/comment-page-3/[/url]

I honestly like what Sanusi is currently doing in the banking system but i hope he is not acting the "northern agenda" as published in Vanguard of 23 March 2009.

You may click on the links below to read the Vanguard stories and let us know what you think.

http://allafrica.com/stories/200903230006.html

[url]http://www.vanguardngr.com/2009/08/15/unanswered-questions-about-bank-mds’-removal/comment-page-3/[/url]

Saw an Intercontinental Bank advert for DSTV subscription payment using their ATMs. Has anyone used it?
[img]http://download.jpg[/img]

Dayo Coker’s current claims however contradicted the picture he was painting in his post of ‘TELL US THE TRUTH’. He was trying to make us believe that Intercontinental Bank was  diverting the money from EIB by setting up nonprofit organizations and channeling the money there. Yet in the current article posted on his blog and in Sahara reporters’ site he said someone in EIB told him that the money was approved since 2007 but Intercontinental Bank has not drawn it. What do we now believe? I can actually see the hand of a disgruntle fellow at work here. His integrity and his real mission looks suspect.

Well to me, though am indifferent, I think  that Intercontinental Bank may have chosen not to reply any of his claims  appears to be a sane response, since a lot of commentators have questioned the veracity of his claims, more so he is faceless. My concern, however is if he is allowed to run his propaganda on a responsible websites like http://www.saharareporters.com ,  his questionable character will rub -off on such websites soon.

He started with a BANK ON THE VERGE OF COLLAPSE now he is talking about issue that has no bearing with that. What exactly is he trying to do? I was actually waiting for him to give us the proof that the bank was distressed and not cooking up stories.

What he has failed to inform us is whether the EIB/Intercontinental Bank transaction was conluded in 2007 0r 2009, cos signing off a loan agreement is different from approval, and the parties must meet some conditions before draw down.

Questions.

1. When was the loan agreement signed?
2. When was the loan approved?
3. What is the tenor of this arangement?
4. When is the draw down date for Intercontinental Bank ?
5. Have both parties met the conditions for the laon and when did they meet the condition?

If we can be provided with the answers to the above questions we can draw our conclusion.

I am wondering why some Nigerians just make statements without first analyzing the implications. Why should anybody suggest that Government should take over Banks, are we trying to cripple the Economy or what?

See the below statement and more from Daily Trust http://www.dailytrust.com/index.php?option=com_content&task=view&id=7089&Itemid=14

We urge the government to take over the giant banks like the First Bank, Union Bank, United Bank for Africa, Afribank, Unity Bank, Zenith Bank and the intercontinental Bank. Notwithstanding what Professor Chukuma Soludo has been talking about lately on the financial health of our banks, the reality is that not many people believe him. In fact, many would readily accuse him for being responsible for the banks crisis as a result of his consolidation of the banks and other fiscal and monetary policies.

Dayo,

I think you are trying too hard to make your points. A good article will sell itself. You have already told us the bank is on the verge of collapse, then rest your case and let Nigerians make their decisions.

You are taking this issue too personal and as such discrediting your article. Your criticisms are well noted but allow the public to make up their minds on the issues raised rather than sounding as a prophet of doom and assuming the position of a regulatory authority.

Let the issues raised generate public opinions and not you instigating them to follow hook line and sinker your own point of view.

I may want to agree with Oriauwa especially with the Punch of last sunday (21 March, 2009), page 9 where AREWA Consultative Forum issued a communique that indicated a 100% change from their usually predonminately political focus to 99% banking. There interest is clear- to seize the banking industry.

Banks contest for top position i.e. No1 bank in Nigeria, the most capitalised bank, the first in this and that. All these resulted in cut throat competition to be in league of No1 bank or the top tier. The industry has been stratified into top 5 banks, top 10 banks and others.

Battle for top 5 appears to be hottest where you have the likes of Firstbank Union bank, United Bank for Africa, Intercontinental Bank, Zenith, Oceanic bank and GTBank have been in this rat race since after consolidation. This has been the breeding ground of high profile de-marketing.

The top 10 banks were up coming and fast driving banks, playing in another hot platform for de-marketing. Those in this category includes BankPHB, Diamond Bank, Access, Afribank, Fidelity, FCMB, Ecobank and a few others. This group posses two driving spirits (I.)Pull down any of the seven earlier mentioned and displaced them in the big boys category. (ii.) to distinguish themselves as having arrived and create impression that they are equally big and a force to reckon with or at least on a class of its own different from the others in category 3.

The scenarios is the battle for key accounts, where the market size has become for blue chip borrowers and large cash cow accounts have narrowed considerably to few public sector entities and government with equally fewer private or corporate accounts. Clash of banks jostling to take positions breed fierce acrimony, a veritable ground to breed de-marketing.

There is also the suspicion that old generation banks are not comfortable with the speed of rise of some new generation banks and with the threat of dethroning them from their traditional positions they have to be checkmated.

Finally, and what precipitated the latest de-marketing could be connected with year-end antics of banks, the behaviour of banks in the time past has always been to help one another in the interbank deposit market, with a view to boosting their deposit figures for balance sheet reporting. Thus bank A would agree with another set of banks to take internal deposits to beef up, its books such that after bank A’s year-end, the bank would take position to give corresponding treatment to the others during their own year end. Thus the banks have staggered there year end, between February and December (Its Only January that does not have a bank’s financial year –end). This unholy alliance had made CBN to roll out plans for a uniform year end mid last year, but this was vehemently frustrated by some banks, forcing CBN to abandon the plan.

However, with the need to sanitise, strengthen and straighten out things in the banking industry CBN and the Bankers Committee had to agree to a uniform year-end early in March 2009, to be effective Dec2009, this development formally broke the unholy alliance forcing every bank to be on its own for the purpose of year end.

Again the banks are back to the trenches employing all forms of tactics to meet there year-end target. This circumstance was worsened because most of the banks have their year-end between March and July; almost over 70% of the banks belong to this category, making the competition stiffer. Thus de-marketing option appears inevitable, especially for some that are desperate to retain their status.

Click for more on DE-MARKETING http://naijacorrect..com/

Banks contest for top position i.e. No1 bank in Nigeria, the most capitalised bank, the first in this and that. All these resulted in cut throat competition to be in league of No1 bank or the top tier. The industry has been stratified into top 5 banks, top 10 banks and others.

Battle for top 5 appears to be hottest where you have the likes of Firstbank Union bank, United Bank for Africa, Intercontinental Bank, Zenith, Oceanic bank and GTBank have been in this rat race since after consolidation. This has been the breeding ground of high profile de-marketing.

The top 10 banks were up coming and fast driving banks, playing in another hot platform for de-marketing. Those in this category includes BankPHB, Diamond Bank, Access, Afribank, Fidelity, FCMB, Ecobank and a few others. This group posses two driving spirits (I.)Pull down any of the seven earlier mentioned and displaced them in the big boys category. (ii.) to distinguish themselves as having arrived and create impression that they are equally big and a force to reckon with or at least on a class of its own different from the others in category 3.

The scenarios is the battle for key accounts, where the market size has become for blue chip borrowers and large cash cow accounts have narrowed considerably to few public sector entities and government with equally fewer private or corporate accounts. Clash of banks jostling to take positions breed fierce acrimony, a veritable ground to breed de-marketing.

There is also the suspicion that old generation banks are not comfortable with the speed of rise of some new generation banks and with the threat of dethroning them from their traditional positions they have to be checkmated.

Finally, and what precipitated the latest de-marketing could be connected with year-end antics of banks, the behaviour of banks in the time past has always been to help one another in the interbank deposit market, with a view to boosting their deposit figures for balance sheet reporting. Thus bank A would agree with another set of banks to take internal deposits to beef up, its books such that after bank A’s year-end, the bank would take position to give corresponding treatment to the others during their own year end. Thus the banks have staggered there year end, between February and December (Its Only January that does not have a bank’s financial year –end). This unholy alliance had made CBN to roll out plans for a uniform year end mid last year, but this was vehemently frustrated by some banks, forcing CBN to abandon the plan.

However, with the need to sanitise, strengthen and straighten out things in the banking industry CBN and the Bankers Committee had to agree to a uniform year-end early in March 2009, to be effective Dec2009, this development formally broke the unholy alliance forcing every bank to be on its own for the purpose of year end.

Again the banks are back to the trenches employing all forms of tactics to meet there year-end target. This circumstance was worsened because most of the banks have their year-end between March and July; almost over 70% of the banks belong to this category, making the competition stiffer. Thus de-marketing option appears inevitable, especially for some that are desperate to retain their status.

Click for more on DE-MARKETING http://naijacorrect..com/