Kachisbarbie:


I strongly agree with you. Any bank that folds/downsizes due to this TSA move should be probed, no bank is meant to be dependent on public funds.

In saner climes, except for maybe reserves_ public funds isn't meant to be sitting somewhere in one(unknown) account.

It's meant to be doing something visible, constructing roads/schools/hospitals...paying salaries but that's not the case anymore, people like Are-GBESE-ola would fix civil servants salary somewhere and be forming no money. A lot of them do it and it's crazy.
They should even move every, both State and Federal.
Y'would see there would be know more salary owing again, CBN would probably credit the various commercial banks where salary accts are domicile and with the right schedule they pay civil servants.

I support the move, strong banks would definitely survive. The ones that go about downsizing have probably been looking for how to downsize.

onatisi:
the zenith bank sack was just the beginning.everybody will sack state,FG and private

mezebel:
Good development...


Morrow is my Bday. Ur likes and share worth more than moet popping

nedu213:
Can I hav ur contact Miss?

bushdoc9919:


Actually....at the bolded...that was thanks to Soludo.

(From a SLS fan who thinks he should be Finance minister in this new regime).

onatisi:
bros the wahala is going too be too heavy on the system. Don't forget the dwindling oil revenue,the bottom line is our economy is still not totally conducive for government to implement this policy at a go.please don't get me wrong the policy is good it will curb corruption within the govt circle but what many are saying is that it should be done in stages to give room for banks to adapt and adjust as it is been implemented pls note this policy was actually initiated by gej but he delayed its implementation and wanted to do it on batches.you can't just withdraw 600govt parastatals account worth over 2.6trillion from the banking sector at a go and expect no serious reaction

eaglechild:
Buhari!
Dullard!!
How many times will you be told to get a seasoned economic team.
What do you think will happen to the banking sector if you pull out 2.6 trillion.

This man will kill Nigeria.

He pointed out that if government decides to implement the policy strictly, there will be serious liquidity crisis as the top six banks in the public sector deposits control about 70 per cent of total money market liquidity.
However, he noted that the policy is presently predominantly Federal Government account as most states are not eager to toe that line, thereby giving some of the banks a breathing space.

Adesiji77:
Nairaland FP seems to be focused on the banking industry these days.

The hustle is real...

Cc: slydog, Caracta, napa, DzTzl, Tinyemeka, 234GT, ednut

eromspete:
I have a few questions mister/miss

- Don't you think that 20,000 accounts spread across many commercial banks is too much for effective financial performance of public funds given the prevalence of corruption in the country?
- Is Buhari taking the money abroad?
- Can't you understand that the money will be approved and distributed through a main channel? (CBN in this case)

Even a seasoned economic team that is honest will see that this has a good potential for proper structure and accountability.

FYI.. Buhari is not acting alone. He's responsible for signing and approving decisions but people do advise him although its not public in the form of Ministers yet.

Please respond with valid response/argument. And no insults please (many peeps have high tendency to insult on here)

Sagamite:


I guessed as much that was why Zenith was sacking 2000 staff.

More banking jobs to go.

onatisi:
bros the wahala is going too be too heavy on the system. Don't forget the dwindling oil revenue,the bottom line is our economy is still not totally conducive for government to implement this policy at a go.please don't get me wrong the policy is good it will curb corruption within the govt circle but what many are saying is that it should be done in stages to give room for banks to adapt and adjust as it is been implemented pls note this policy was actually initiated by gej but he delayed its implementation and wanted to do it on batches.you can't just withdraw 600govt parastatals account worth over 2.6trillion from the banking sector at a go and expect no serious reaction

airfinance:


In batches how? Please explain I wanna learn more

refreshrate:


Are they being closed down in stages?

Realism

refreshrate:


I honor your wisdom sir! In fact i am amazed at your level of intellect. Thank you for being able to think the way you do and for this i pray God continues to increase you in more ways than you expect.

I really dont know how some foolish wastes of space come out shouting in support of this. It completely baffles me.
Now you see why they say Nigerian graduates are unemployable? If you ask them now theyll say they are graduates, well when most of their lecturers sef the books the use are from shortly after the end of the second world war which they convert to hand outs to make ends meet for themselves.

Senseless lot!

mrvitalis:
The fact that the Nigerian government can't generate 15trn every year still surprises me
.....south Africa with a GDP of $350bn generates close to $100bn and we with a GDP of around $500bn struggle to make $50bn in a year.. .. .
Corruption has eaten this country dry

Lushore1:


Bros i think this will be done in stages as state governments would not be following this order and base on this quote......."However, he noted that the policy is presently predominantly Federal Government account as most states are not eager to toe that line, thereby giving some of the banks a breathing space".

refreshrate:


Ever heard of the CBN?

Central bank of Nigeria?

Thats where such monies are kept and operated from.

dazzlingd:

the whole funds will be moved to CBN....then cbn will create sub accounts, all payments from public funds will be initiated thru CBN and no longer thru commercial banks.

musKeeto:

Central Bank of Nigeria. Its good to ask 'stupid'. There is no shame in learning.

asha80:
I would love to hear your views on tho vis a vis what is obtainable in uk(that is how uk banks operate and how they sustain themselves)

refreshrate:


Weve had CBN governors and advisers for how many years now?

Is Nigeria that great in terms of performance based on their policies?

Pls answer this very logically and truthfully refraining from resorting to insults or ending with na you sabi

mrvitalis:
The fact that the Nigerian government can't generate 15trn every year still surprises me
.....south Africa with a GDP of $350bn generates close to $100bn and we with a GDP of around $500bn struggle to make $50bn in a year.. .. .
Corruption has eaten this country dry

nigeriancuban:
question is not what your country can do for you,if I may ask how much have you generstedy since yr 2000?

jibbish:

Am not a graduate, so I leave you to the analysis. As far as am concerned, in my core area of profession, u are an apprentice. So don't ever come to a conclusion that all graduates don't think. Every man has his strength n weakness. If you challenge me more, I won't answer you cos u jux wanna seek attention. Let's meet on a TV program if u can face me in this discuss

Ayomax:
you will end up in jail like him (you won't be as rich as him tho) in Jesus name, Amen!!!!!

jibbish:

Shebi u get sense pass Central Bank Guvnor n all advisers. Mr Graduate, take ur time.

dammytosh:
That is serious !!!! and to think GEJ ordered TSA since and nobody responded shows how incompetent the drunken man is.

He actually reigned and did not rule. He was not in charge of anything.

dazzlingd:

some banks depend heavily on public funds....loosing such funds myt lead to reduction in revenues generated thus a need to downsize labour

so in the short run, life myt be hard. But all is for national interest and more efficient utilisation of government funds which will foster development in d long run.