kq:

I think we need to be very careful with this CBN thing i watched an interview with Sanusi sometimes ago and i agree that the media do blow issues out of context especially where a speaker says one thing and newspapers interprete it as another. For instance when Vanguard came out with their article in March who was the CBN governor then? Can we get references to statements made by Sanusi himself in his own words not someone trying to explain what Sanusi said. A lot has been said about how wrong the move by Sanusi was but can we just look out the beginning of the present global economic crisis, Lehman Brothers crashed but the Bush administartn knew about Lehman bros weaknesses and failed to help. Thats one of the reasons the Obama admin decided to inject govt funds into some failing institutions because of the devastating effects they would have on the economy. KQ, you are talking from both sides of the mouth. The US govt. actions were done in a way to calm the markets and not unnerve them. Certainly,you can't really compare SLS actions as calming? Govt intervention in the private sector is necessary looking at the recent move by the US govt to get Swiss banks to reveal US citizens who are evading tax.Here again, you are comparing apples and oranges. Locking up tax havens isn't goverment intervention.

Also that PHB was declared unhealthy and Unity bank was told to recapitalise doesnt say Unity bank was better, many of these CEOs had to shoulder the responsibility for the problems in their respective institutions. Besides its quite possible that a lot of these institutions just use publicity stunts to make them look good when in fact there house is in disarray. Let me just say we need to look at this issue from all perspectives not just saying its a Northern agenda or they are trying to sell off banks to outsiders without any concrete proof to show. Sanusi himself declared in an interview that he went to London to ease the fears of foreign entities doing business or with existing interests in Nigerian banks that there investments were safe. So KQ assuming you are an investor.,Will you leave your money in the Nigerian economy with the recent actions or even invest more? Seriously?

Please lets be more objective in our analysis of the issue am not saying Sanusi is right in all ramifications but am saying a lot of the wrong he is accused of really has no basis.

MyJoe:

We have been told that the Vanguard story was not original. It was authored by a group determined to keep Soludo in office and sent to various media houses but was published by only Vanguard. Anyway those who allege Northern conspiracy will have to adduce proof to convince me. We all know there is a "North-South dichotomy", but we have to make assessments and draw conclusions based on facts. First a close friend told me Northerners will be appointed CEOs. When that did not materialise he told me to wait till the boards were reconstituted. Now some have been and hardly are there any Northerners. If SLS's agenda is a Northern takeover, where are the parameters for the takeover? How many northerners have the money to buy banks, anyway? Since when did Northerners start banking? Everyone talks about corruption in Nigeria, but the moment someone does something about it, this is all you hear - "selective justice", "Northern agenda", etc. Anyway, I am here, watching,