UPDATE: Police take over premises of affected banks. Former president Obasanjo's last ditch attempt at saving Intercontinental bank CEO/ management rebuffed!
The Central Bank of Nigeria (CBN) today announced that it has dismissed the Chief Executive Officers of Intercontinental Bank, Union Bank, Afribank, Oceanic Bank and Fin Bank.
The announcement of the sack of the super CEOs is coming on the heel of revelations that the former Central Bank of Nigeria governor, Charles Soludo, provided soft loans to the affected banks. The CBN under Soludo gave Oceanic bank (N80 billion), Intercontinental bank (N72 billion), Skye bank (N60 billion) and FinBank (N40 billion). The sacked super CEOs are: Erastus Akingbola (Intercontinental Bank); Okey Nwosu (Finbank); Sebastian Adigwe (Afribank); Mrs Cecelia Ibru (Oceanic Bank); and Bartholomew Ebong (Union Bank).
Before his sack, Soludo had planned to buy back the loans as bad debts. Meanwhile, it has been revealed that Oceanic bank, owned by the Ibru family might be the worst hit with bad loans according to the ongoing banking audit of ten top banks ordered by the new CBN governor.
Comments (64)
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Brian jamieson
said:
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... I do not see an agenda in the actions of the Governor. Face it, the credit decisions of some of these CEOs were grossly irresponsible and crass. Soludo presided over some of their activities he should be tried for lending so much of tax payers money to these banks without public recourse. |
Gbafe A. Simon
said:
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... This occurrence is not strange being fully aware of the consuming level of greed in every sector of this country. What shocks me is that men and women who have religious leaning, and highly respected in our society as role models could be found wanting in such highly masterminded complicity. Men and women who are entrusted with our monies, our lives, have dismally betrayed the trust reposed on them. This only happens where there are no properly documented and laid down procedures for doing things in a nation this big. Nigeria continues to roam the wild like a lost animal seeking its source. The entire system is procedure-less with no checks and balances at any point or post in the entire Nigerian system (all Ministries). CBN is also to hold for this colossal eroding of our financial system because this is a systemic failure and collapse of the fabric and power-house of the Nigerian state. People in CBN either took bribes and closed their eyes to what gradually built up over time or they had no skills enough to detect the build up of such systemic failure. This is scary and quite a bad and damaging legacy to be left behind for the younger generation coming forth. All the monies MUST be reclaimed and any public officers found in this plot should be dragged on the streets of Nigeria and punished heavily to serve as scapegoat for others. Government should also take over any companies involved and their management sacked forthwith. |
MC IVOR
said:
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... HI,I NEED SOMEBODY TO TELL ME WHATS GONNA HAPPEN TO THE SHARES IN ALL THIS BANK ESP OCEANIC BANK AS I HAVE LOTS OF SHARES THERE AND AM NOT IN NIGERIA. |
Ikenna Odu
said:
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... I hope this is in the interest of the economy. It will be too bad if this cleansing is politically or ethnically motivated. Lets be mindful of the words we use. If anything should happen to the banks listed, then the economy of the country is headed for a mess. Yes, Sanusi had scores to settle with some bank's managements but lets approach it more professionally. |
xavier
said:
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... Investigation of the issues sorrounding the Executive take over of these banks, should be made public so the masses would be given a chance to understand that the intents was not tribalism. The governance i know, would just leave people to thier opinions! Be it right or wrong!!! This is the "SEGREGATION"we must fight |
folorunsho
said:
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... The Banking industry has indeed changed and we expect more change in the coming days. From what i see those 5 will eventually be turned around and sold. Like we have said, this also further reinforces the analysis on the "Africa Report" which showed four strong Banks - First Bank, GTBank, Diamond Bank and Skye Bank. I am sure Skye was not part of those listed as taking money from the window.. Rather its repported to be one of the safe Banks. Lamido has said we should not expect any more suprises as those 5 are the main ones. Now, lets pray that Bankers can now do core Banking |
Hausa/Fulani
said:
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... I bet all those calling foul have not got any stake whatsoever in any of the banks affected. Those of us that have shares in these banks and seeing these shares turn to worthless pieces of paper due to mismanagement will of course hail this development. You cant stop the odd Stupid from seeing this through an ethnic microscope though. |
abidemi oderinlo
said:
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... we saw it coming but we were all hoping the cup will pass over us, but since it came down then i've got to go get my coins from inter........... |
Seyi
said:
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... I am amazed at the tribal and sentimental comments some guys have made here. Lets be objective and fair. It shows you guys with tribal comments willll do even worse than all these corrupt CEO if you are in their shoes. If Nigeria must survive all of us including the lowest personality must shun corruption, greed, dishonesty and lawlessness. I appreciate the people that expressed surprise why other banks like Zenith and Unity banks did not make the list. Lets forget which tribe anyone is from. We need not be Financial experts to know if our bank is failing or not. What I expect is for us to shout on Sanusi to make sure the list is truly a complete one, Sanity is long overdue here. You need not alledge Sanusi of being tribalistic, you only need to push him to sack other corrupt CEOs not minding whether they are Hausa, Ibo or Yosuba. As much as I believe Nigeria is at the verge of collapse soon, I also believe we can avert it if we all rise up to the occasion of fighting corruption without any sentiment whatsover. |
Jerry Asemota
said:
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... What would you expect in a Failed State like Nigeria? Before NGR crumbles wont you work for your own share of the gain? More disaster is coming soon unless REVOLUTION takes place. |
michael ojiofor na aga
said:
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... with what is going on now, i pressume that the northerns have plans to control all the entire positions. we shall not relax our mind as the corruption start from the norths, crimes also start from there. Somany northern owed banks billions of naria, they government has to be querry all this people and revise back our fund, the police are not evening doing their jobs, they only capitalize in chesting innocent people outfrom internet cafe, this young men fighting to survive as the government benefits has taken away from them. the police and efcc should stop looking internet boys and look on those nigerian embassling governments money and oil. Sanusi ensure that all banks in the north are subject t the screening. GOD HELP NIGERIAN |
Gabriel
said:
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... What are we talking about here? I just hope there would be no stories about the depositors funds. |
goke oluyemo
said:
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... well, i worked in one of those banks for five years.we all heard how cbn lent N40billion to bank of the north.even with that it had to merge with 7 banks to meet 25billion capital.the northerners felt left out even though nobody said they cant start their own bank.obasanjo was not a saint,but he never had a southern agenda. Today the federal govt is fighting Lagos state,a state that accounts for 60% of the nigerian economic activity.Banking is the only sector in Nigeria that is professionally run.They might not be perfect,but please dont compare them to any other sector in nigeria.now that single good sector is under fire from govt. what is a bad loan if not a loan that is not performing(the borrower is not paying regularly).how is that a ceo's crime.if the borrower is refusing to pay,we should be looking at restructuring the loan and not the banks.and for the soft loan.every where in the world,the central bank is the lender of last resort.nothing strange. i hope you know that foreigners want our banks dead.the share price debacle was caused by them according to some.i heard they spread rumors about these banks so that foreign investors will pull out and thats why the stock market crashed. the old cbn managment also had a rule that says foreigners can only have 10% of the shares of any bank.they want more.and thats the first thing sanusi did.he has reversed the policy. its not that anybody wants to be tribal.just look at the facts.northerners control our govt even under obj.they have ruled for more time than any other.yet the northern people exept for maybe 0.1% are very very poor.even with all the looting they have done nothing to help their people.with all these actions going on how are we not to conclude that they are only interested in power without performance. we have no roads,light,refineries,schools.but we are active at installing northerners in every good position in and out of govt. i only hope that everybody will get vigilant and watch for foreign involvement because that will be the worst thing to happen.foreigners dont want nigerian banks to get out of line by becoming important.i hope the new cbn will not work in their favor. |
derenle
said:
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... This mallam sanusi is on a mission. He is not fit as governor of CBN. One, why was FBN not in the list of banks being probed? Is he saying FBN too is healthy? Two, why not take legal means against these bank ceos? Three, does lamdido as cbn gov have power to sack private bank ceos? And some dumbs and egg-heads here are praising him. I am shocked at the comments of some shallow-thinking contributors.Those acting ceos are stooges who will pave way for these banks to bought by the north. However, with this agenda of northernisation of Nigeria, Nigeria is heading towards the worst civil war in history of the world. What the north is cooking, by the time it explodes, hahahahah, we shall all see. You think Nigerians are fools, and probably you think you won the biafra war? This time not only biafra will war, just continue with your agenda. These are exact replicas of the pre-biafran era. We are watching, mallams, go ahead with your plan! |
kp
said:
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... This is the story, my wife and i have a joint saving account which we both hope to use for our Childs education. I took a risk and invested the money in some fast business that went bad, being the first time of managing such fund. Now have been swindled and my children future is at stake. Will you say the wife should divorce the man for mismanaging funds or will you say the man be scolded yet guided in the process that will ensure his able to recover the families investment. An average Nigerian , is just an hypocrite,buiness has gone bad because the economy has somersaulted , it is not peculiar to Nigerian Banks .Banks all over the world are not in a good shape. So what the sensational billions exposure .everybody is shouting ,for Nigeria it the stock market for US it the mortgage market.But American is recovering not by Sacking owners of Banks . One of the banks have a total loan package of 600billion out of which 40billion has gone bad, Fine it is bad enough but CBN seems to be more interested in Sacking CEO empowering banks to recover the Bad loans for the big men in Nigeria Where was CBN all this while, Sansui is has good as his intention might be he is on a project that will dent is career or ruin his personality. How can we combine a weak government that is almost non –existence with a Hyper –active CBN. The big names that borrow money and have refused to pay back are still MDS/CEO in there own companies ,while those that took risk to borrow them money are removed after years of hard work ,CEO and Top executives some of which have strived very hard to get to this positions. Sanusi has thrown out the baby with the bath water and has started on a very bad note, this can only happen in a country like ours. Such erratic leaders can only be praise for there “zero-tolerance “by small mind who are intimidate by the reality of living in a capitalist society. We cannot deny corruption in the financial industry, but It is not in individual it is in the system, ending the hard earned career of some 5-20 top executive will not cleanse the system. It will only change the face behind a system that thrives on corruption and at the end we may be worse than when we first started |
OGBOYE
said:
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... For the mathematically inclined; does GOOD INTENTION (i.e cleansing of the rotten banking sector) done BADLY (selective sacking of out-of-favour CEOs) equate BAD INTENTION(Northerners taking over Banking industry) done EXCELLENTLY( temporary replacement with southern CEOs in acting capacity) Riddles of the day! |
ORACLE
said:
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... In making my contribution(s) to this subject matter, let me draw our minds back to the infamous "DIYA COUP". In the course of the court/military tribunal proceedings that followed did we get to know that there was actually a COUP within a COUP i.e the so called GOOD GUY (BAMAIYI)intended the whole DIYA coup to be a FALSE FLAG that would ultimately divert attention from him and would give him all the time in the world with no inhibitions whatsoever to execute THE COUP that would bring him to power. Please let me implore my fellow brothers and sisters of Please and Please- question and critique everything, i mean everything !!!- The banks are sick- that is no news!! They have been sick for a long time. Those economies we so desire to be like (EUROPE & THE AMERICAS) also experience and are still experiencing the same if not worse cases(which is also a pre-planned strategy which would culminate in domination and control of the many by a few)in their financial institutions. I hope thisis not true- but if it is? I ask all those commentators that have argued for & against tribalism & tribalistic insinuations for a few minutes ponder on a few questions. A. Advancing loans to these banks was not shrouded in secrecy- it was on a need to know basis & the people who needed to know -knew. Why this radical move in less than 1 year in office? Why are the calling a dog a bad name in order for them to hang it? These banks, have they defaulted on these loans? Did they deny ever accessing such loans? Are they refusing to pay back? ALL i mean ALL banks in Nigeria are sick with varying degrees of sickness. Please remember, banks being given loans by the CBN are SYMPTOMS, have we discussed the CAUSES? B. Why bring in the cops to seal off the premises of these banks. CBN as a regulatory body, calling in law enforcement agencies should be a last resort FEAR- to instil fear in the mind of depositors and employees of these banks causing panic(CHAOS). C.On record- The CBN governor was quoted as saying that he wants only 15 banks in Nigeria- hasn't he begun the shrinking already with this supposed development??? Making cheaper and easier to control? (ORDER) D. Several groups in Nigeria have made their agitations known about the "NORTHERNIZATION" of the polity. This in their opinion is because the President has favoured the indigenes of the NORTH over others. this allegations were made before the appointment of the CBN governor- who incidentally is a NORTHERNER. So when a comment that questions why 1st Bank (chaired by a northerner and where the CBN governor used to be MD) was not on this list,why are we so quick to waive it off as a TRIBAL jibe? E. Let's digress a bit, why were pipes laid from the south up north (KADUNA) just so that a refinery would be located up north? If the Northerners do not have an agenda, why the stupid insistence of RILWAN LUKMAN to situate the just approved PETROLEUM UNIVERSITY in Kaduna? Let's say it sailed through & the University becomes situate in Kaduna, do we all realise that the CATCHMENT concept would come into effect, whereby only if not most of the intakes would automatically be from the NORTH. F. It is common knowldge that of the 49 years of existence, the Northerners have ruled more (civilian & military), so they had a grip on all government's institutions, So much so at a time they left their mark (AREWA) on our legal tender. Ask yourselves- aren't there other symbols that portrays our NATION ? e.g the confluence or the flag G. Why the absurd & outrageous clamour for the dredging of the river Nigeria so as to create a port In Abuja? Well if you ask me, the same reason for laying pipes from the south to the North. H. The CBN governor according to the constitution had/has the powers to decimalise the currency as it relates to exchange rates against other currencies. SOLUDO did this but was given a proper dressing down by the presidency,though it falls within his jurisdiction. The CBN governor, unilaterally issues a seal up of banks' premises & sack of bank execs & that is all good even when he cannot do so. From my opening and these questions i raised, let us be objective about this issue. The banks being sick is very true and real and some CABAL are using this to lay claim to the banking industry in Nigeria, trying to create ORDER from CHAOS, CHAOS created by them It is quite easy to decipher my leaning & let me say these assertions, open questions and insinuations are my opinion to which i am perfectly entitled to just as other commentators on here. I strongly believe the NORTHERNERS have had this agenda of completely taking over the nation for a long time & this desire is being agressively pursued under the presidency of MUSA YAR'ADUA. I implore you all not ponder on/over my seemingly bias opinions but to question everything, i mean everything ! Thank you |
adeyemi
said:
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... Guys that have doubted the reasons for and the legality of the CBN move may have valid points for having such thoughts. However I think we need to kind of look at this issue from another perspective. In Nigeria, most things that we see usually mean more than we think. We Nigerians as every human beings on earth are sentimental people hence our skepticism most times when events are unfolding in front of us. A case in point is the current debate on healthcare reform in the United states, the Republicans and their supporters are vehemently against any kind of reform because some of their biggest donors are the health insurance companies who feels the reform may affect their profitability. These companies have bankrolled conservative media to continue to mobilize the conservative political base against the reforms. Based on lies and manipulation of facts the conservative media led by Fox News have been able to energized and mobilized people to disrupt town hall meetings by legislators to explain the reforms to their constituents. This is not different from the ethnic and religious dimension introduced into Sanusi's appointment. These bankers are the real oligarchs we have in Nigeria as they are the one advancing loans to politicians to contest elections and other sundry stupid reasons. The issue now is that the money they were mismanaging is not theirs but belongs to you and I and the numerous market women, civil servants and artisans all over Nigeria who save money with them and buy their shares. So they do deserved to be sacked and must definitely be prosecuted as they are economic saboteurs. I believe most of us do not care where CBN governor comes from if it means our deposits and investments in these banks are save . I personally believe these clique in the banking sector were the one fanning the ember of the ethnic and religious connotations to Sanusi's appointment then because they know where the guy stands on the issue of risk management and corporate governance. I am not a banker but a search online would have directed anybody who cares to some of the guy's write up as far back as 2005 so I believe this guy is known to them hence the reason why they were vehemently against his appointment. The fact that Soludo was willing to advance loans to them that were not announced to the public also explain why they wanted him to continue as the CBN governor. I believe this Sanusi guy is a committed fellow but I am also skeptical about the Yaradua government which is a corrupt one allowing him to carry out this to the logical end that would benefit Nigerians and the economy. |
Bode Ogundimu
said:
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... A big thank u to everyone who has contributed to this development. But could we please act like professionals like i believe most of us truely r. We knw hw well stories get cooked-up/phrased/paraphrased/edited etc in d interest of d do-er. A good example is that published by the EFCC in relation to Ribadu's loot and state of the arts properties in the US, UAE etc. Sahara reporters was kind enough to ground-truth this report and came up with results falsifying every word/line/sentence by the EFCC. Please lets not start throwing arguements or get abusive bcos of emotions or wat differentiates d forum from the house in nigeria whr chairs and punches are thrown. All we need is jst patience for d truth to b revealed asap. 10ks. |
Samuel Igben
said:
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... What will happen to ordinary depositors in Nigerian banks that every body knows for sometime now are badly managed. We now know why Banks' CEOs use share holders money for purchase of private jets, ridiculous salaries ,allowances, perks,etc, . Banks CEOs have become richer than the banks themselves, setting up businesses from looted bank funds. Where are the regulating agencies that ought to prevent these funny things going on in the Banks. As usual, corruption has sucked all of them in and its Nigeria and the common folks that will bear the brunt. No wonder poverty, crime and anarchy are just increasing daily in this country called Nigeria. |
Samuel Igben
said:
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... I'm not sure any of the 42 banks can really escape if prperly scrutinised. The CEOs and their Directors are crooks, manipulating shares ,giving fake loans to themselves thro their cronies etc. But the real let down is that the regulating agencies of Government are completely comatose because of corruption. Only God will save Nigeria. |
deeA
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... guys wake up and smell the coffee this is a sanitation exercise and not a tribal takeover look at the new CEOs |
castro
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... ADEBIMIPE ADEFARASINOLUWA,the northerns olso contribute in tarnishing the image of this countrye.g boka haram. read the papers, soludo made the soft loans public and availabble to all banks, why are all the key positions in the country occupied by northerners, are they the only once with solution to our problems, leave this banking thing out of it for now, the truth will be uncovered in a few days we wil see that it will point towards the north, just like that of NNPC CBN CUSTOMS etc. that of NNPC was the most shamefull, retiring most people from south and west onlty one from the north a female i must add, just to fufill all righteousness it seems, if u r restructing are u saying that those retired were those causing the problems. FEDERAL CHARACTER what ever happened to that?, one Nigeria, simply because of CRUDE OIL. |
bunmi akinrimisi
said:
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... this issue calls for serious concern because we have been looking at some banks and their CEOs as role model of private corporations in the continent but here we are, having the true picture of things going underneath. For this issue not to look one sided what about other industralists (some of the names already known) owing some of these banks millions of dollars (billions of naira)? what about senators /house of rep members, past governors involved in financial scams? EFCC has virually turned into backing bull dog that can't bite. one thing is to sack, scream in the dailies about financial misappropriation another thing is to bring to book to serve as caution for others. |
Joe Shima
said:
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... I can't understand why people are viewing this development from an ethnic perspective. Some have cited that the omission of Unity Bank from the list is because Sanusi wants to protect 'his own'. That is So not true.The CBN has completed the audit of only 10 banks out of the 24. Unity Bank has yet to be scrutinised so why the shout about the bank. We need to be more objective and dispassionate in our analysis of issues bothering our country. I don't see how the average Nigerian stands to benefit from bank CEOs' ethnic background |
paul k joseph
said:
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... GOD IS GREAT!! now Akingbola can be held accountable for his many crimes. The soul of Alaba Joseph is not finished with him yet, he is just starting. |
Nmudo
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... Pls cross check your source and facts, skye bank was never mentioned, skye is a strong, dynamic and professionally run bank. |
moi
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... Mallam, Mallam hummmmmmm hope this for the good of this nation cos we can't trust u guys. |
forturnengr
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... I have said several time on this forum that the problem with Nigeria are the elites especailly those called the corprate Nigerians. Nigerian Banks are nothing but a Western Union/Money Gram shop that only survive on money laundering activities. Any sense human will know that these guys over the years cook their books...now wind don blow fawl yansh don open..but I wonder how Zenith bank escaped..more its time to reveal all those business men that collected loans from these banks and refuse to pay back including Dangote and co. We an'it seen anything yet, the chiken have just started coming home to roast....for all those that have investment in the Nigerian Stock, just wait until their a change of guard and Ndidi-is removed then you guys will cans of worms being open not even now that Dangote who have recently being fingered in share manipulation is the president..the wise ones should start divesting their money from the stocks now b4 its too late ..... |
koko
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... For goodness sake, why are we all hasty in arriving at conclusions. The authenticity of this story has to be established. The so-called news juust broke out and i am sure in the coming days ahead we shall all know the truth. The banking industry is a very sensitive one and i am not sure it belongs to any tribe in this country, so folks, let's stop triavilising this issue. May God bless our country. |
Ibrahim Usman
said:
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... SR reports is a medum for Intellectual discourse. As learnerd people, lets wait to hear the justifications for this act by the CBN before postulating irrelevant comments. The CBN owes it a duty to the public to reveal why these bank MDs were sacked. Then we can review the reasons based on its merits and demerits. That I believe is what everyone of us with access to the Internet should do. Afterall we are all educated and not market people. CBN:Over-to-you: Justifications, Please |
soji babalola
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... Welldone Sanusi but pls tread softly o. Its not easy to take this daring bold step in Naija where corruption is the most thriving business. God bless Sanusi, God bless all the people that are trying to sanitise our land. God bless Nigeria. |
Uju
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... Please you guys are doing a great work.Our banking system needs to be cleaned very well.KudosSoludo u have disappointed the Igbo's especially me that appreciates and admires your personailty. |
Ado Ali
said:
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... I support you Abidemi, we have to be positive. Southerners or Westerners alone cannot build Nigeria. Let us understand that badmouthing programmes emanating from somebody just because he is not from the part of the country we want him to be, will not augur well for our development. |
Joseph Peters
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... This shake up was long overdue.These Banks have been cooking up their books over the years.The 400 billion and guaranteed Interbank placement is very good.All private deposits should also be guaranteed.Gos bless you Mallam Sanusi |
Kanayo Okpali
said:
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... Whaooo! It beats my imagination that the likes of Union Bank, Afribank, Oceanic and Intercontinental could be mentioned in this kinda deep shit. I am just wondering how safe it is to still invest your hard earned money in Nigerian banks at the moment. God help us! Kanayo Okpali |
Abidemi
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... @ADEBIMIPE ADEFARASINOLUWA: Are you a secondary school student abi na your family CBN sack? Please, if we ever want to progress in this country, people have to stop being tribalistic and biased,people that always take things in the negative way must be made to keep their dirty mouths shut. You guys r the biggest criminals I believe when given the opportunity, whenever you hear a crime about any Nigerian abroad, its always us from the southern and western part of this country, so what r we saying here, aren't we even the ones tarnishing the image of our country internationally? whenever there is an issue concerning any progress from a northerner we start shouting; they r trying to use back door, trying to cheat us, are you guys God? Let them be, its the will of God, and I believe everything has time, if thats the will of God, He has a reason for making it so, and God is never wicked, so please stop all this tribalism and lets face the truth together. At least we all pledged to defend the unity of our country. Long live FRN |
Abidemi
said:
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... @ADEBIMIPE ADEFARASINOLUWA: Are you a secondary school student abi na your family CBN sack? Please, if we ever want to progress in this country, people have to stop being tribalistic and biased,people that always take things in the negative way must be made to keep their dirty mouths shut. You guys r the biggest criminals I believe when given the opportunity, whenever you hear a crime about any Nigerian abroad, its always us from the southern and western part of this country, so what r we saying here, aren't we even the ones tarnishing the image of our country internationally? whenever there is an issue concerning any progress from a northerner we start shouting; they r trying to use back door, trying to cheat us, are you guys God? Let them be, its the will of God, and I believe everything has time, if thats the will of God, He has a reason for making it so, and God is never wicked, so please stop all this tribalism and lets face the truth together. At least we all pledged to defend the unity of our country. Long live FRN |
chukwudi duru
said:
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... NOTHING BUT THE NORTHERN AGENDA UNFOLDING, THESE NORTHNERS SIMPLY HATE NIGERIA, THEY DO , I CANT BELIVE THE EXTENT THEY ARE READY TO GO TO CONTINUE STEALING MONEY AND BEING IN POWER. BANK OF THE NORTH IS DEAD FOR THE PAST YEARS AND THEY ARE NOT THERE,. THIS IS SIMPLY UNACCEPTABLE |
Maamy
said:
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... Let the Igbos and Yoruba's continue to goof. The lazy Northerners are at it again and will never mean well for Nigeria.Quote me right on this: This is a way of taking over these banks as they feel they have to control every sector of the Nigerian economy. But it is a shame we tend not see the big picture in Nigeria. I think Yar'Ardua is not in charge from what has been happening so far. My message is that Nigeria might be heading for another civil war as a people can't be this ruthless and greedy. My message to this northerners is for the number of years you have ruled Nigeria, what have you really left behind as a legacy,except ineptitude.And what has the majority of your populace received in return for your looting of the common wealth. God in His infinite mercies will always give the improverished southern commons due advantage over you in all spheres of life. Recently, you sacked all high ranking NNPC directors from the south to give way for your own northern folks. What a nation!!Currently, you hold all key positions in the nation.Let's see where all these will take us to. |
Hassan Dantata
said:
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... Ratings agency Fitch on Friday downgraded Nigeria's Intercontinental Bank long-term issuer default rating to 'B' from 'B+', citing liquidity pressures faced by the bank since 2008. 'The pressures on funding and liquidity have coincided with a downturn in the economy and the local stock market,' Fitch said. 'Increased funding costs and higher impairment charges related to share-backed lending as well as other sectors have impacted overall profitability,' it said. Source: http://www.lse.co.uk |
squeakie
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... each time i read what people write here, i am first amazed, then i weep for my country. first, soludo is one of the best if not the best CBN gov nigeria ever had. the "soft loans" as tagged by SR is the CBN expanded window which all the banks were invited to borrow from. it was NEVER done in secrecy. now to the motive behind this so called shake up....it is obvious that sanusi has a master plan that he is working wit. ok.. so oceanic, intercontinental, skye bank n fin bank took advantage of the expanded window n got d loans. did union bank n afri bank take d soft loan? y is d mgt of skye bank nt sacked? simple.. lagos state govt has a strong stake in skye bank and the northerners will nt be able to infliterate easily!!!. Union Bank is definately not on the brink of collapse.. Union Bank n fist bank are the strongest banks in d industry. he cant sack the mgt of frist bank cuz the chairman is a northerner n he is d immediate past md. its very sad that the few good tins dat obasanjo gave us, yardua has systematically dismantled dem... first, efcc, den nafdac now d banks cuz we knw dat anytin headed by the northerners will allways be run aground. by the way, i read in the papers yesterday wia sanusi said islamic banking is good for nigeria. (anr script playing) if he truly wants to help banks, y has he not sacked the management of unity bank (a northern bank) which is dead and has not even been able to publish its audited reports in the last 3 yrs (contrary to wot the companies n allied matters act says?) my prayers as usual go to the children n d unborn children... may God deliver us from this madness. |
Abkin
said:
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... Hmm, is this in public interest? Are we sure the samething is not been extended to the bank Mr gomina was comming from? Having shown to be well granded in the banking rules, why can't Mr gomina floated his own bank all these while? Are we sure this is not a reprisal? Hmmm Jesus wept(for naija) |
Queen
said:
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... Goldring Silver and Olaseni Sobande, please don't be myopic. These CEOs are neither Northerners nor Southerners. They are just thieving Nigerians! They are there serving their interest. |
ahmed borno
said:
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... it is amazing how tribalised and biased we have all become in Nigeria.when educated people with insufficient information just jump to conclusion it calls to question our thinking.northern job?these banks are neither north nor south,the secret shareholding of these banks hide both thieving northerners and southerners loots.if cleansing the bank is just kickstarted,then so be it,but enough of the brazen laundering of corrupt funds through bank consolidation and public offers.............. |
OLODEGUNRE BUNMI JOHN
said:
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... Where are we heading to in this country?When Hillary said corruption is thriving in Nigeria our leaders were crying foul;bearly after 48hrs this shocking news is unfolding again,pls Soludo must not escape. GOD BLESS NIGERIA.........GOOD PEOPLE GREAT NATION. |
Too much!
said:
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... Are these not private banks? How can they be sacked by CBN if they are not owned by the govt? What kind of banana republic is these? If they are not doing what they should be doing, it is the shareholders or boards or owners that should sack them not CBN. What is all these craps in this country? CBN should gave no right unless these banks are owned by govt irrespective of their financial status! |
Goldring Silver
said:
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... Sanusi is doing the hatchet job for North. I will never believe all their reports. The North is trying to enter the sector through the back door. They will surely fail. They have destroyed every sector they headed. |
ADEBIMIPE ADEFARASINOLUWA
said:
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... YOU ARE NOT SERIOUS. AFRIBANK CANNOT BE IN SUCH A DEAL. IT HAS A STRONG CAPITAL BASE |
Funmi Winleke
said:
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... This is a very good development in the country, we the commoner pray more of it to come. For the 1st time in history, the highly influentials were not spared the rod (now axe) God bless Sanusi........God bless Nigeria...... |
ADEBIMIPE ADEFARASINOLUWA
said:
|
... This is not true. Afribank cannot be involved in such a deal.You gooofed. |
Funmi Winleke
said:
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... This is a very good development in Nigeria, we pray more of it to come. For the 1st time the highly influentials were not spared the rod (now axe) God bless Sanusi.........God bless Nigeria...... |
Olaseni Sobande (UK)
said:
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... I am very much in support of cleaning the mess in our Banking sector and the need for transparency and accountability. However, I hope the CBN is not doing the hatchet job for the Northerners (who have been complaining of domination of the Banking sector by the Southerner) and have been looking for a way to enter through the back door. We were told at the begining that Sanusi was appointed as CBN Governor to protect the Northern interest. OUR EYES ARE PEELED AS EVENT UNFOLD. |
BONNY
said:
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... Bravo CBN. Thanks for the soft loans that saved d five banks and the jobs of thousands of hardworking Nigerians.The CEOs had performed badly and its right they are not rewarded for running those banks to such debt. This is world standard, u see in US and UK banking regulations. Once again, Bravo CBN. |
salele abdul
said:
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... This is shocking, as all the time i had thought this man was doing well how naive i was. i was even wiondering why he was relieved of his job. May Gosave Nigeria from such people, amin |
OOJ
said:
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... When report about how wick some of these banks are, many take it as a child's play now the big picture is smoothly ravening itself. My simple advice is run with your money out of these motherfucking banks and invest pending when we have real banks. OOJ ustineooj@yahoo.com |
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