mikeansy:

so easy for you to ignore the fool

but not so easy for some of us!!!!

I guess you mean not so easy for those of you he attempts to speak in their name.

[size=18pt]BANKO HARAM[/size]

Banking is evil

That is the phylosophy of our new cbn governor
no suprises given that he studied his own economics at sudan

sudan?!!!!!!!!!!

But why should Dayo-Coker be taken anymore seriously than the news organisation Vanguard?

Do we now have a case where we consider any organisations whose views we dont agree with as "discredited source"

Bialegend:

What BIAFFRA, IGBO and OJUKWU are doing to this moronic nigerians is unbelievable. Always jittery even when those names have not been mentioned. Idiot, can you tell us where BIAFRA has been mentioned in this stupid thread that made you to start panicking?

U are the big fool

listen to yourself, shame on you.

Hausas, Yorubas and Minorities will not speak with one voice with u?
How did u come up with the above line in a discussion that has to do with Ibori being charged in London.

Who is panicky?

You are a big fool, and only a fool thinks he lives in a country that does not exist
You are highly deluded

See your location on your profile and ask your self carefully in what continent of the world is my location as at 10/09/2009. ?

FOOOOOOOOLLLLLLLLLLL!!!!!!!!!!!!!!!!

Better wake up from your delusion.

I don't know when people will understand that Bialegend is not an individual to join issues

He should not be taken seriously by anyone looking to have a reasonable conversation.

How dellusional can a man be, ask him what identity he travelled to the United States with?

Does any country of the world recognise his Biafra passport.

He has no clue about today's History or Geography.

I don't know about you Bialegend but I don't know that any country called Biafra exists as we speak.

Binna's strategy is to respond to everything whether he has a credible answer or not

I believe his thinking is any answer will do.

But the fact is that any criminal takeover of these banks by Sanusi will be resisted.

Only God know the small boys wey go dey oil Turai as her husband dey die so

I wish I can apply.

Its pretty clear who is leading who on the pics

and by extension the country

if Sanusi takes over this banks through the back door it will be criminal and the takeovers will not last

anybody who invest will be a fool because these new banks can only last as far as Sanusi is in office

what is going on in Nigeria is what Barrack Obama calls

"[size=18pt]Made up controversy[/size]"

The end result is premediated as Sunusi will simply sell the 5 banks to his cronies

its just shameful that we are ready to destroy this country just to determine who is up and who is down

they are on step 3 of 4

step1: 5 top banks are destroyed so as to pave the way (that was rightly predicted by vangaurd)

step2: destroy confidence in the banking system (also predicted by vanguard), this explains why they are telling us about immaginary impending collapse that is unexistent.

step3: sell the banks to Sanusi's cronies which they are trying to do by friday in london

I weep for Nigeria

anybody can believe what they like but Sanusi is on step 3 of 4

step 1: as rightly predicted by Vanguard he has gotten the top 5 banks in the country into the fray without even pretending by conducting credible audit of the whole banking system.

step2: he has succeeded in undermining the reputation of the financial sector and sending out message of imaginary impending doom just to fascilitate his pre-mediated goal.

step 3: he now wants to sell these banks to his cronies as early as this friday.

I weep for Nigeria.

Binna go and sleep as this news will be very heart breaking for you ------ the plot has failed.

CBN never conducted special exams on banks’
Headlines, National News Aug 26, 2009 By Omoh Gabriel, Emeka Aginam, James Ezema & Tordue Salem
LAGOS—More insights into the motive for the removal of the Chief Executives of Union Bank, Intercontinental, Oceanic, Afribank and Finbank emerged, yesterday, as some top officials of the Central Bank of Nigeria, CBN, opposed to the sack, provided evidence which points to the fact that no special examination of the banks was conducted either by the CBN or NDIC.

Also yesterday, some members of the House of Representatives who visited Vanguard raised query on CBN’s source of the N400 billion injected into the five banks.

This position was also corroborated by the Managing Director of the Nigerian Deposit Insurance Corporation, NDIC, Mr. Ganiyu Ogunleye when he appeared before the Usman Adamu_led Public Accounts Committee of the House of Representatives

No special examination as required by law


With documentary evidence in Abuja, the CBN officials said that what was done in the banks between February and July 2009 was on AD-HOC assignment.

A CBN letter to the banks on the 18th of June said : RE Joint CBN/NDIC AD-HOC ASSIGNMENT
The letter reads in part “a team of CBN/NDIC bank examiners led by Mr X has been scheduled to carry out an Ad-Hoc Assignment in your bank. Please provide them with the necessary information that will enable them to promptly complete the assignment.”

The CBN officials said an ad-adoc assignment was different from a special examination. They disclosed that a special examination can only be conducted on a bank if there is a petition from within the bank to CBN, stating that there is a grave situation in the bank or that after CBN/NDIC examination, the report points to a deteriorating financial situation in the bank.

According to the officials, in that case, the CBN will write formally to the bank board, intimating it of its intention to do a special examination, detailing the areas and material facts to be provided. The examiners will move in to carry out the assignment.

After the examination, the report is compiled and a copy sent to the bank for it to study. Thereafter the CBN will schedule a meeting with the bank board to discuss the findings of the report of the examination and out line possible solutions. If it is the erosion of capital, the board will be asked to raise capital and given time frame to do so. All of these were not carried out this time around, the CBN officials said

Besides, the banks affected complained that the figure on non-performing loans they were being asked to provide for changed with each examination which gave rise to suspicion that something was fishing.

A letter written by one ofthe banks to CBN Director, Banking Supervision titled request for report of CBN examination read: “We observed Sir, that CBN and NDIC examiners have visited our bank several times between the months of February and July this year.

However, we have not received any official report on any of these examinations. We equally noticed that the figures and details of non-performing accounts to be provided for, change with each different list given to us and also different from the various exit interviews held with our management. …we shall therefore be very grateful Sir if we can receive the full examination report with details of accounts deemed non-performing for our review and response in keeping with your normal practice.” The letter was not responded to, they said.

House of Reps query source of fund
Following the recent injection of N400bn into five Nigerian banks by CBN as a bail out fund, some members of the House of Representatives, yesterday, said that the CBN Governor, Mallam Sanusi Lamido Sanusi would be made to explain the source of the fund when the House reconvenes.

Speaking during a courtesy visit to Vanguard Newspapers in Lagos, the House stated that since they were on recess when the decision was taken, in line with due process, the CBN governor ought not to have dolled the funds to the five banks including Oceanic Bank, Intercontinental Bank, Fin Bank, Afribank, and Union Bank without a recourse to the National Assembly.

“We have raised agencies that have the backing of the law to track people who do extra budgetary expenditure. When we see that the Federal government is not acting, then we act. We believe that he acted with every good intention, but it did not follow due process.

“ There from, there is communication between the various committees. I know that there from, every other thing will follow due process and those that have not followed the law would be made to comply with the law,” Chairman of Appropriations Committee, Hon. Ayo Adeseun said, adding that the CBN would be called to order and made to explain where the bail money came from.

“It is obvious to everybody, when you are talking about bail-out, we all saw even the voting process by virtue of improved communication, we saw the voting process on the floor of the various congresses.

“So, if one person appointed a governor who does not know the workings of government, that means the person be called to order for proper orientation on his job. And that is probably the first attempt at public life. Whereas he is pursuing good intentions but good intentions must be pursued through due process. And we are also handling a delicate times when the stock exchange has lost, in the last one week, over N600 billion in value.

“ We come from constituencies, we feel the pulse of the people. Where as you are safe-guarding the deposit of money, you also do not want them to lose out. Things must be done properly. It is wrong, it is totally wrong and the central Bank Governor must be called to order that he did not follow due process. We must call a spade a spade,” he further stated.

Similarly, Honourable Igo Agumah, representing Port Harcourt I Federal Constituency, Rivers State, who also condemned the action of the CBN on bail-out fund, said that it was time due process was followed for a better polity.

“I’ll like to assure that this government is not running without a legislature. I think that the legislature is part of what makes this government a democracy and in addition to a few of the things that have been said, first on the bail-out money, I think that this House is going to insist that the CBN governor discloses where he got the money to give to the five banks. It is part of what we’ll do.

“I’ll like to inform that all these things had taken place while the House of Reps is on recess. And on the very first day at work, we’ll require the CBN to actually disclose the source of the money, where he got it from in order to do what they have done,” he said.

The delegation comprising chairmen of various House committees was led by House Committee Chairman on Media and Public Affairs, Hon. Esseme Eyiboh, representing the Speaker Hon. Dimeji Bankole, Others were Hon. Ayo Adeseun (Appropriation), Hon. Bassey Otu (Petroleum), Hon. Sada Soli (Inter Parliamentary relations), Hon John Eno (Finance), Hon. Igo Agumah (Gas)

… NDIC disagrees
The Managing Director of the Nigerian Deposit Insurance Corporation NDIC, Mr. Ganiyu Ogunleye, yesterday, faulted a N400 billion liquidity injection into the five banks whose former Managing Directors, boards of directors and Chairmen were sacked by the CBN for offering “non-performing” loans to the tune of N747billion to top businessmen in the country among other offences.

However, the NDIC gave kudos to CBN Governor for laying-off the erstwhile bank chiefs, stressing that the exercise, with the condition of the banks, was long overdue, even as the Corporation sought to be excluded from the list of agencies of government obliged by the Fiscal Responsibility Act to remit their surpluses to the Consolidated Revenue Fund.

After the sack of Mrs. Cecilia Ibru, Bartholomew Ebong, Sebastian Adigwe, Erastus Akingbola and Mr. Okey Nwosu, Former Managing Directors of Oceanic Bank, Union Bank, Afribank, Intercontinental Bank and Fin Bank, respectively, the apex bank quickly injected over N400billion into the banks while the sanitisation of the banking sector lasted.

Responding to the N400billion pumped into the defaulting financial institutions, while he appeared before the Usman Adamu-led Public Accounts Committee of the House of Representatives, Mr. Ogunleye said the NDIC was working with relevant institutions to discourage what he considered a traditional response to banks on the slide.

“This idea of liquidation till eternity is not helpful. But I can assure you sir (Chairman of the Public Accounts Committee) that we are in the process of drawing a line on that. We are in the process of doing that. We agree with you completely.

He recalled that the Expand Discount Window idea for ailing banks was first introduced by the Sani Abacha regime in the wake of an earlier banking reform for reasons that no longer obtained in the present financial sector.

http://www.vanguardngr.com/2009/08/26/cbn-never-conducted-special-exams-on-banks/

Anybody who says I should not believe Vanguard should give me 3 reasons why I should take them more seriously than the vanguard given that Vanguard correctly predicted all that is happening and is still providing proof that this who circus is a made up controversy.

and congratulations to him for destroying the banking sector and destroying confidence in the system just within 2 months of taking office

he is a real hatchet man and he is delivering on his job description given to him by his masters.

There is nothing these banks are doing that FBN and Unity bank are not doing

and if what we are talking about is pruning them out, then the banks should be closed and all employeees sent home, not just firing the head. FBN and UNity should also suffer the same faith.

Sanusi is simply executing an agenda already detailed in the March 23 Vanguard.

SHAME ON SANUSI for pursuing such a myopic agenda.

biina:

wait to achieve what. Those that are already found guilty should be dealt with immediately, instead of wasting time and letting them bring undue pressure on the process. The CBN has started with the most likely culprits and the result of the audit has shown so.
So if we had 24 suspected armed robber gangs, you would rather we wait to investigate all the gangs (let them keep operating), before prosecuting the 5 that we have already found evidence against?

Unfortunately we are not talking about armed robbers here we are talking about the nation's financial institutions and the dangers the activity of sanusi portends for the larger economy

and if there is any armed robber in this whole process, the Sanusi led CBN is looking more like it.

Beaf:

So whats the difference with an instituition making allegations, does that make them right?

As to the rest of your post, the CBN is expected to be 100% professional and beyond such basic errors.

Even if you or I made such fundamental errors in a matter of this magnitude, any reasonable person would question our ability to handle the situation correctly, in fact all reasonable people would doubt our conclusions.

to debate Binna be like to debate dinning room table.

Central Bank of Nigeria Press Release :The Central bank of Nigeria has noted claims by some individuals on the published list of debtors/defaulters that the figures posted against them are not correct and threatened to go to court. The bank has also noted some typographical errors regarding the titles of some government officials and some companies and wish to comment as follows:

1.     The general public and all concerned should note that the list published is as at 31st May, 2009 and if any of the defaulters/debtors have made any repayments after that date, they should sort it out with the relevant bank.

2.     The title “Accountant General” under Intercontinental Bank Plc list, should read “Accountant General of Zamfara State” while the name “Delta State Government” under the Oceanic Bank list, should read “Delta Steel Company”


The Central Bank of Nigeria regrets any inconvenience caused as a result of the typographical errors mentioned. Meanwhile, list of other debtors/defaulters is being compiled and will be published on an on-going basis.
Head Corporate Affairs, Central Bank of Nigeria
19th August, 2009

CBN dey work on more than 2 months old record

mistyped names of debtors

then no get list of performing and non performing loans right

some of the figures no correct.

Binna chill ok!!! Nigeria belong to we all. Why CBN no fit wait untill them conclude thorough audit and compilation of report?

Ibru has turned herself in

lets see if madam waziri go swallow her

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSLQ29722220090826

who will arrest cbn for cooking up list of debtors and misleading the nation.

who will arrest cbn for cooking up list of debtors and misleading the whole nation.

who will arrest CBN for cooking up list of debtors and misleading the whole nation?

CBN no cook the list of debtors?

fayahsoul = Bialegend ?

mikeansy:

Aliko Dangote denied outright . . . . . .CBN has sent out clarification saying that its not Aliko but Ali

Jimoh Ibrahim querried the amount which CBN has since then published clarification to support his claim.

CBN has also sent out clarification on some people who had performing loans but they CBN reported initially that their loans were non-performing

If there is anyone engaged in doubled-speak here, its Sanusi and his CBN. They have been all over the place.
I hear they even want to conduct fresh audit. Cant trust folks who can't get a simple list of debtors right to do a thorough audit on the Financial system.

The CBN investigation or audit or whatever they want to call it has been irrovocably damaged.

The public has no confidence in their capacity to audit anything.

you r natural spindoctor lol

what weapons are u talking about?

his computer? e-mail address? mobile phone?

The most important weapon of the fictitous character called Jomo Gbomo is propaganda. His tools are tools which are available to you and I on nairaland.

If he negotiates those tools for millions with the government then he is truly a smart guy.

I am also happy with the inclusion of Ogbuke Obasi

those making noise about Ike Uche should wait until Obasi settles into the Super Eagles squad.

Folks there is a reason every coach wants an attacker who is big and has pace to lead the line.

I think that is why Mike Enemaro is being invited, unfortunately he is not a great footballer

Yak is big but no pace

Ike Uche has pace but he is short

My best bet would have been Osaze to be our top 9, unfortunately Osaze does not seem to be very keen to step into the shoes
He would be great if he can be clinical.

SapeleGuy:

Nosa - All the problems that you have listed are directly and indirectly attributable to the military. No country has successfully developed under military / colonial regime.

Hellloooooooooo ??

Libya is not doing badly

And by the way there is no democracy in Nigeria. We are not even pretending to have one yet.

dem don bully am to change his mind

even if it means sacking all 24 bank MDs I am with him Sanusi

Let the Huricane Sanusi go full circle.

OMO IBO:

Abeg, save us the trouble.
This Nigeria we are talking about.

I'm sure you also do not believe what you are saying.

I believe what am saying 100%

Ken Nnamani played the most prominent role in destroying 3rd term, He is not and was never a guest of the EFCC

Buhari was the leader of the biggest Oposition party, he was never a guest of EFCC

The reason is simple, they had no case to answer.

Some are even suggesting that catching 3 out of 5 thieves is hypocrisy

not sure where Nigerians get their logic from?

OMO IBO:

2 obvious ones are Peter Odili and Sam Egwu.

Well Ribadu stopped Odili from being President or Vice and concluded his case to charge him to court after his tenure expired.

who else do you have

Sam Egwu's case had not concluded, you charge people to court when you have documented evidence. Otherwise you wait.

Dede1:

The resident peeps on the Nairaland are becoming damn right ridiculous or absolutely naïve. Any place in the world, including USA, people who ascended to higher political positions had existed richer than they came.

If the people yarning for prosecutions against any office holder wished to leave higher political position poorer than when they assumed office, I appreciate you go quietly.

Almost all the governors who did not challenge Obasanjo on any political issue were not made notorious through the witch-hunting style of EFCC under Ribadu.

I am afraid that the issue of Nuhu Ribadu has been proven beyond reasonable doubt that the dude, Ribadu, is human fraud. Anyway, he is a typical Nigerian.

can you please advice us on how you figure out who the friends and enemies of OBJ are?

please don't give me answers based on perception. A checkable record or pointers will be welcomed.

I think in a civilised society the number of opposition party victims relative to ruling party victims will be a good place to start.