Nairaland Forum

You nko, Papabrowne, why are you drinking Panadol for Intecontinental's headache and yet you claim you are not a staff? Why all dis your aggro?

@ blacklion
Must everyone buy d idea of the poster? As far as I am concerned I think the people dat are actually drinking panadol on this issue are those dat are trying so hard to push their selfish thoughts on everyone.
If I am sensible enof to know d signs of a sick or failing bank and I defend Inter since dy dont show any of such signs, does dat make me a staff of inter?
No disrespect, please lets use our brains. thats what they are meant for.

gudnyte

Why would anyone seek the downfall of a private company

this is  part of human development , it happens every where in the financial world, reason being we are all fighting  for diminishing resources and  and in this game the fittest WILL only  survive . simple example rumour, and extreme one  are spread betwen simple market women all in the game, to make more than your neighbour .  do not be surprised  when push come   shove that dayo whatever was {sponsored} or paid to start that nonsense , but in this financial world its fair game.

The picture is getting clearer.

gdnyte once more!

@ kelv,

I don't have a dog in this race. Never had an account with Intercontinental. I don't gain or lose if Intercontinental goes down or keeps on the up and up. But I was just pissed at the lynch mob here trying to muzzle the blogger and the poster who alerted peeps to possible untoward developments in Intercontinental. Nigeria is a country of no smoke without fire and I've personally heard some of the rumours about bad loans made by Akingbola to politicians. Instead of ICB staff to address the rumours, they want to lynch the rumour bearers.

I've personally heard some of the rumours about bad loans made by Akingbola to politicians. Instead of ICB staff to address the rumours, they want to lynch the rumour bearers.

to support your point , when we used to have one trillion pseudo banks, most of these useless banks were investing in real estate lekki phase1, then ,the contractors were comp. set up by the directors, the built were over inflated, when valuers were called the report were damming to say the least, you need to know what goes on in these banks.

PapaBrowne:

My concern is not exactly for Intercontinental Bank! My concern is the negativity in the mind of most people!
Hence, I'm still asking this question that keeps bothering me about Nigerians?
Why would anyone seek the downfall of a private company? Where did Nigerians get this pull-down-any-successful-thing mentality?
Why are we so desirous of seeing the downfall of successful people, companies or organizations
I am afraid of this mentality because I see it everyday. Every poor person is praying for the downfall of a successful person! Why? ? ? ? ? ? ? ? ? ?

people asking questions is not a negative thing. people wanting to know the truth is not negative. Nigerians are learning and realising that they can, should and must ask these questions.

The more you seek to bury the truth or to dismiss as irrelevant issues that people are curious about, the more negative it will appear.  This thing no suppose be long tin at all. If all these intercontinental bank staff on here and that sent those emails simply issued a document showing the banks current financial status (that information is supposed to be public anyway) and showed evidence in a civil manner to support their claims that the bank is stable, this would have ended very quickly. Instead you have the typical Nigerian response of a bunch of retards foaming at the mouth and refusing to provide any concrete information.

Just looking at the original post I can already pick a bunch of logical holes that would have easily destroyed the dayo guys case, that is until the a fore mentioned retards gave it a whole lot of credibility by ranting and raving without a pause for thought.

The day of the ostrich is over and not a minute too soon!

devayid:

people asking questions is not a negative thing. people wanting to know the truth is not negative. Nigerians are learning and realising that they can, should and must ask these questions.

The more you seek to bury the truth or to dismiss as irrelevant issues that people are curious about, the more negative it will appear.  This thing no suppose be long tin at all. If all these intercontinental bank staff on here and that sent those emails simply issued a document showing the banks current financial status (that information is supposed to be public anyway) and showed evidence in a civil manner to support their claims that the bank is stable, this would have ended very quickly. Instead you have the typical Nigerian response of a bunch of retards foaming at the mouth and refusing to provide any concrete information.

Just looking at the original post I can already pick a bunch of logical holes that would have easily destroyed the dayo guys case, that is until the a fore mentioned retards gave it a whole lot of credibility by ranting and raving without a pause for thought.

The day of the ostrich is over and not a minute too soon!

Exactly! Thank you joo! Brilliant observations.

This is classic military mentality at work. Any criticism is the work of subversives and saboteurs.

I dont think there's anything wrong with Intercontinental. My company has had accounts with them for over 12 years now and all through last week and even yesterday we've been making major withdrawals and deposits without any incidents.
While i joined in shouting Ole about their 10k minimum deposit which has been reversed, i believe now that what is going on with this particular post is DEMARKETING
PURE and SIMPLE

I've also noticed that this "pull him down" syndrome in Naija will never change

devayid:

people asking questions is not a negative thing. people wanting to know the truth is not negative. Nigerians are learning and realising that they can, should and must ask these questions.

The more you seek to bury the truth or to dismiss as irrelevant issues that people are curious about, the more negative it will appear.  This thing no suppose be long tin at all. If all these intercontinental bank staff on here and that sent those emails simply issued a document showing the banks current financial status (that information is supposed to be public anyway) and showed evidence in a civil manner to support their claims that the bank is stable, this would have ended very quickly. Instead you have the typical Nigerian response of a bunch of retards foaming at the mouth and refusing to provide any concrete information.

Just looking at the original post I can already pick a bunch of logical holes that would have easily destroyed the dayo guys case, that is until the a fore mentioned retards gave it a whole lot of credibility by ranting and raving without a pause for thought.

The day of the ostrich is over and not a minute too soon!

**************************************
How can I provide information about the bank that I don't possess! I don't work there so I have no obligation in that direction! ************
Everybody knows there are loads of logical holes in the Dayo Guy's post, and thats the source of my worry!

So my question is this: Since you can "pick a bunch of logical holes in the Dayo Guy's case", why are you so excited about the prospect of seeing a private entity in turmoil? What wrong have they done to you or to people you know? What do you gain by hating on a successful private entity? ? ?

If its the government that you hate on, thats perfectly understandable! But a private company employing thousands of people and providing services to millions others? I would never understand this Pull down Mentality and how it got into your brain and that of many other Nigerians

PapaBrowne:

Your reasoning is short, you know that right?
How can I provide information about the bank that I don't possess! I don't work there so I have no obligation in that direction! Please sort your brains out!

Everybody knows there are loads of logical holes in the Dayo Guy's post, and thats the source of my worry!

So my question is this: Since you can "see a bunch of holes in the Dayo Guy's case", why are you so excited about the prospect of seeing a private entity in turmoil? What wrong have they done to you or to people you know? What do you gain by hating on a successful private entity? ? ?

If its the government that you hate on, thats perfectly understandable! But a private company employing thousands of people and providing services to millions others? I would never understand this Pull down Mentality and how it got into your brain and that of many other Nigeerians

you're probably not staff, and that was addressed to staff, read. comprehend. act/dont act. always in that order.

not excited at seeing anything fail, excited that people are asking questions. again. read.comprehend. act/dont act.

devayid:

you're probably not staff,  and that was addressed to staff,  read. comprehend. act/dont act. always in that order.

not excited at seeing anything fail, excited that people are asking questions. again. read.comprehend. act/dont act.

There is a big difference between asking a question and seeking to tarnish someone's image which is what the Dayo guy is aiming!
You cannot point me to any question you or the Dayo guy has asked! So what questions are you referring to?

If you happen to be successful or probably if you happen to own a successful business, you will know what I mean by Pull down Mentality of many Nigerians and you will hastily desist from ever joining that bandwagon of losers!
If you visit the Dayo Guy's blog, you will notice he has a knack for attacking successful private companies! Guy must be a loser!

Did they say intercontinental bank is sending out death threats? 

From "emarketing" to "Pull down mentality"! These Intercontinental staff members have a conspiracy theory for everything!

The only theory unacceptable to them is the possibility of any criticism coming near their bank. Because their bank has never done anything except save orphans, help widows and turn Nigeria around! (For Intercontinental staff members on this thread, that was sarcasm)

Please, Intercontinental Bank staff is there no end to your propaganda? Or do you get a bonus for every post you put on nairaland? Nigeria has many problems but we are still free so don't try to enslave us with your yoke of "emarketing" and "Pull Down Mentality!" We are free so if we see a problem or even suspect one, thunder cannot strike us down for saying so (no matter how much you petition for it at pre-work or lunch time fellowship!)

Your bank is shady!!!!! This is a fact. Someone had the guts to call you out! You can call him a demarketer, an agent of pull down mentality or even an agent of the devil but it's out there and there's nothing any of you can do about it except whine and complain!

Advice: Try focusing more on doing an honest days work than on getting paid for nothing every month. The real problem with Naija is not "Pull down Mentality." That is just an empty, dumb Nigerianism. I can't believe anyone could even write that without laughing themself into a coma.

The real problem with Nigeria is dishonesty and greed.

Peace and God bless.

The real problem with Nigeria is dishonesty and greed

you nail it on tha head. gbam,

since independence the world bank calculated that Nigeria must have lost close to 300 bill. $ through corruption and embezzlement, the simple questions how do you think these monies got out out of the country , i am positive they are not carted away thru Ghana must go, definitely its thru the banking system. look lets all be aware that this is the tip of a big ice berg.

Hmmmmmmmm

I got this from Coker's blog.

Soyinka called it collective amnesia, the seeming inability of Nigerians to remember the past, no matter how recent. After the global financial crisis decimated the world's leading economies, Erastus Akingbola, the President of the Chartered Institute of Bankers told the press that Nigeria was immune from the meltdown. According to him, the Nigerian financial system did not contain exotic instruments such as the CDOs, subprime mortgages and credit derivatives that launched America's bubble economy. He was wrong and the people conveniently chose to forget.

That careless and shallow statement illustrated Mr Akingbola's intellectual dwarfism and shallow understanding of the financial system. Since then, several strange things have happened at Intercontinental Bank such as its decision to raise its savings minimum balance to 10,000 and the complete shutdown of its services three weeks ago. The bank claims that it experienced a service disruption as a result of its migration to a new technological platform but its managers did not deem it fit to notify its customers in advance. How does that reflect responsible corporate behaviour?

Intercontinental Bank also claims that it has a 1 trillion balance sheet but analysts at Proshare, Nigeria's leading independent analysts, have already raised questions over its financial statements. Many people do not know that a company can generate a huge balance sheet by revaluating its fixed assets and employing other creative accounting gimmicks. UBA was the first to do it in Nigeria and other banks have since caught on.

Mr Akingbola also claims that the European Investment Bank has asked it to disburse 50m Euros to strengthen the educational sector. I would like the Nigerian press to really investigate this arrangement to find out the truth of the matter. I am highly suspicious of this deal because I noticed that Intercontinental Bank hurriedly inaugurated a non-profit organization AFTER it supposedly received the loan. Does the bank plan to exploit Nigeria's lax corporate laws and use its Foundation as an avenue for diverting funds meant for revitalizing the educational sector.

I also wonder why the venerable AAA-rated European Investment Bank would partner a bank that agreed to accept the shares of a state government as collateral for a private buy out of a company indicted for massive corruption (WILBROS). I have already written the EIB seeking clarification on this matter. Foreign institutions cannot continue to apply different standards when they are dealing with less developed countries. Such a thing would not happen in Europe or North America.

Intercontinental Bank should also explain how Alhaji Shehu Badamasi of Tanzila Petroleum, managed to obtain a 19 billion facility with 100M worth of shares in a small insurance firm. Where was the oversight? What about all the small businessmen that could have benefited from this loan?

Someone sent me an email asking why I was singling out Intercontinental Bank when nearly all banks are exposed to bad loans. My answer is simple. We need full disclosure from all our banks just as Sanusi Lamido said in his interview with the Financial Times. I didn't expect tottering banks like Sterling, Wema Bank, FinBank and Sterling Bank to come clean over their books but I was really impressed when Finbank’s last reports reflected its true state of affairs.

The so-called big ones must set a good example. Intercontinental Bank must open up its books and tell us the extent of their exposure to toxic assets. People do not understand the risks inherent in the Nigerian banking sector. I have obtained documents showing that Skye Bank paid a 40 million naira public offer BONUS to Adedotun Adeniyi, then a General Manager in charge or retail banking. Other banks have also embarked on similar spending sprees, buying private jets and luxury condos in Dubai for their chief executives. At the height of Wema Bank's problems, Jeremiah Omoyeni, its former CEO still managed to approve a 500 million housing allowance even though the bank was performing poorly.

People argue that the nation's economic commanders will try their damnedest to stave off the collapse of some banks but we can never be certain the hostility of Northern oligarchs towards the present CBN governor. Banks that are perceived to be too close to him might be pushed aside. All it takes is one shift in policy from Yar’Adua’s inconsistent government.
Even if that doesn't happen, there is no excuse for mismanaging a public company, owned by many Nigerians around the world. And I personally do not believe that Mr Erastus Akingbola is qualified to lead Intercontinental Bank in this critical period. There is no rationale for opening 70 new branches in a recessionary cycle. Has he considered the huge costs of maintaining generators, deploying ATMs and staffing those branches?

People have called me all sorts of things ranging from hired hack to devil's spawn but I will continue to ask the necessary questions just like David Einhorn. I seriously believe that behind its glitzy facade, something is seriously wrong with Intercontinental Bank and I’m willing to bet my resources on it.

I have received numerous insults from the bank's staffers saying that I'm wasting my time since only a small fraction of Nigerians have access to the Internet and that the bank is built on Jesus. They also say that Nigerian newspapers are still behind their banks.

Well, they obviously do not understand how far we are willing to go with this crusade. As I write, flyers and posters have been printed for distribution around Nigeria's major cities explaining the true state of things in the banking industry. Denizens of the United Kingdom who want to more information can also meet us at Speaker's Corner where we will soon hold a series of conferences.


The truth has no branches.


Intercontinental Bank Foundation



1. Dr Erastus Akingbola

2. Mrs Seinye Lulu-Briggs

3. Mr Chris Alabi

4. Mr Yinka Adebiyi

5. Mrs Folake Adeoye



The aims and objectives are:

1. To enhance educational infrastructure development

2. To raise the literacy level among Nigerians

3. To give scholarships to students to aid education

4. To provide education resources for effective learning

Any objection (s) to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, Abuja, within 28 days of this publication.



Signed

Itseuwa H. Unoakhe and Co

Suite A31, Maitama Shopping Complex, Maitama Abuja, 08033139576.

neogogo:

From "emarketing" to "Pull down mentality"! These Intercontinental staff members have a conspiracy theory for everything!

The only theory unacceptable to them is the possibility of any criticism coming near their bank. Because their bank has never done anything except save orphans, help widows and turn Nigeria around! (For Intercontinental staff members on this thread, that was sarcasm)

Please, Intercontinental Bank staff is there no end to your propaganda? Or do you get a bonus for every post you put on nairaland? Nigeria has many problems but we are still free so don't try to enslave us with your yoke of "emarketing" and "Pull Down Mentality!" We are free so if we see a problem or even suspect one, thunder cannot strike us down for saying so (no matter how much you petition for it at pre-work or lunch time fellowship!)

Your bank is shady!!!!! This is a fact. Someone had the guts to call you out! You can call him a demarketer, an agent of pull down mentality or even an agent of the devil but it's out there and there's nothing any of you can do about it except whine and complain!

Advice: Try focusing more on doing an honest days work than on getting paid for nothing every month. The real problem with Naija is not "Pull down Mentality." That is just an empty, dumb Nigerianism. I can't believe anyone could even write that without laughing themself into a coma.

The real problem with Nigeria is dishonesty and greed.

Peace and God bless.

1. I'm not a staff of Intercontinental bank.

2. I joined in criticising them for the 10k increase

3. I've been an active member of Nairaland since last year(check my profile)

4. I dont reside in Nigeria.

5. I believe this is now "de-marketing" and i first used the word "pull him down syndrome" cos its actually happening

6. You just signed on newly and all your posts have been on Intercontinental, this shows "PULL HIM DOWN SYNDROME"

This blogger clearly has a lot of inside information on Intercontinental, so i'm willing to deduce some points.

1.His job application had been rejected or had worked for the said bank before being "fired". There's too much venom on his attack on this bank. I think this is personal. Over here, people go to jail for these stuff

@samparian:

Oh, I beg to differ, my friend!

Doth the lady not protest too much (or the gentleman as it may be)?

I believe now more than ever that you are a lower management staff member of intercontinental bank who is using the relative anonymity granted us by the internet to indulge in what you clearly believe is damage control. I believe you probably had to even give the seminar on "demarketing" yourself and so you more than any one could probably actually tell me what the heck it even means as you are most probably fluent in managementese!

You will note that I addressed my post most clearly and specifically to Intercontinental bank staff. If you felt the need to answer it then, logically, you are by your own action an Intercontinental bank staff member.

But on to the intriguing subject of demarketers. I have to say that if they are not just figments of your paranoid lower management imagination then these enemies of Intercontinental bank certainly have a much more effective and sophisticated propaganda machine than you do. I respect that and I don't even mind if you identify me with that machine as it is clearly kicking your butt all over the street.

Finally, i would like to point out for the record that like you, I have been a member of Nairaland since last year. I usually observe (something you should probably learn to do) and only intervened this time to stand against the attack on free speech by a vicious, hypocritical, and not very bright lynch mob. i.e. your intercontinental staff colleagues on this thread.

Your serve.

samparian:

1. I'm not a staff of Intercontinental bank.

2. I joined in criticising them for the 10k increase

3. I've been an active member of Nairaland since last year(check my profile)

4. I dont reside in Nigeria.

5. I believe this is now "de-marketing" and i first used the word "pull him down syndrome" cos its actually happening

6. You just signed on newly and all your posts have been on Intercontinental, this shows "PULL HIM DOWN SYNDROME"

This blogger clearly has a lot of inside information on Intercontinental, so i'm willing to deduce some points.

1.His job application had been rejected or had worked for the said bank before being "fired". There's too much venom on his attack on this bank. I think this is personal. Over here, people go to jail for these stuff

Perfect Analysis!
This is exactly what I was thinking!

Look at this statement from the blogger. The blogger isn't smart at all and doesn't know the law concerning libel and defamation of an entity, he is setting himself up for a sumptous jail term!

qblaze:

Well, they obviously do not understand how far we are willing to go with this crusade. As I write, flyers and posters have been printed for distribution around Nigeria's major cities explaining the true state of things in the banking industry. Denizens of the United Kingdom who want to more information can also meet us at Speaker's Corner where we will soon hold a series of conferences.

Why would anyone go as far as printing flyers to distribute such defamation?Why do u care about the banks books when you are not a shareholder nor a customer? Who loses anyway?

No bank customer has complained the he went to withdraw money and the bank didn't have money to give him.
So since he assumes they are having problems, why are they still able to meet their obligations to their customers with relative ease?

Apparently, this is all a waste of time as months from now, Intercontinental bank will still be waxing strong, perhaps globally, while the blogger is probably going to remain poorer all his life as people with such mentalities hardly ever succeed!
As for me, I will keep banking with Intercontinental bank!

Dayo Coker is obviously not alone. His statement ", they obviously do not understand how far we are willing to go with this crusade" confirms it. Personally I deduce conspiracy theory from his allegations.

I also went through his blog and noticed he quotes his sources as "I received an email from one of Nigeria’s most respected financial analysts", "She later sent me her assessment of Nigerian banks based on their stability", "A GM at UBA sent me a confidential email two days ago claiming that, ". To me, these are all preposterous. He even quoted a UBA boardroom rant by Suzanne Iroche saying “Tony, you can’t be serious” to Tony Elumelu, and then she resigns. Hmmm Dayo the Great. I am sure a UBA Director sent him an email/a text after the board meeting.

My point is: if this whole Intercontinental on the verge of collapse brouhaha is based on Dayo Coker's assertions then everyone firing the bank should rethink instead of wasting their time and effort.

In my opinion Dayo Coker wants popularity and he seems to be getting some with this.

Is intercontinental bank a stake out for hired assassins? , Just curious,  

It is wrong for them to start sending death threat letters to their customers - they claimed in their fake slogan - Happy Customer Happy Bank.

The slogan does not represents their true picture of whom they are.

We also passed through them for the capital market, but we don't know next line of action. I believe they will reason with the global economic downturn and tender justice with mercy by going to dialogue fruitfully.

I learnt many people have lost their tangible assests to their threats as well.

Please keep praying to God for them to have a change of heart towards you, and remain blessed.

Ovegho

There were two dumb Bottom Joysticks on that first page, Names start with K and P, I dont play that silly rubbish where you slap someone and say no pain intended, What were you intending to show with your posts? Instead the impression you leave me with is you are illmannered buffoons who probably work for the aforementioned banks, But then I forget and digress - my attitude towards Intercontinental bankers is known by my friends, From far away the smell of incompetence is enough to drive me mad. As Notorious would say, if crap smells then this bank be stinking!!

PS Is there some autocorrect tool working up in here? Spaces after commas?

Druss:

There were two dumb Bottom Joysticks on that first page, Names start with K and P, I dont play that silly rubbish where you slap someone and say no pain intended, What were you intending to show with your posts? Instead the impression you leave me with is you are illmannered buffoons who probably work for the aforementioned banks, But then I forget and digress - my attitude towards Intercontinental bankers is known by my friends, From far away the smell of incompetence is enough to drive me mad. As Notorious would say, if crap smells then this bank be stinking!!

PS Is there some autocorrect tool working up in here? Spaces after commas?

As I said I dont play with that stuff. I hate people who jump on people the way those two did. It is far too common. I HATE IT!!

Someone said CBN gave the bank a clean bill of health. No comment. A lot of things will come out before the end of this year. Wasnt it the same CBN that reassured us that the recession wont touch Nigeria? Isnt it the same Soludo who is under investigation? Nigerian Banks are for the most part involved in too many shady deals , too many!

Druss:

There were two dumb Bottom Joysticks on that first page, Names start with K and P, I dont play that silly rubbish where you slap someone and say no pain intended, What were you intending to show with your posts? Instead the impression you leave me with is you are illmannered buffoons who probably work for the aforementioned banks, But then I forget and digress - my attitude towards Intercontinental bankers is known by my friends, From far away the smell of incompetence is enough to drive me mad. As Notorious would say, if crap smells then this bank be stinking!!

PS Is there some autocorrect tool working up in here? Spaces after commas?

I do play like that!
But I don't play Cowardice like been scared stiff to mention the bearers of letters K & P!

I have had sme personal issue with them at the past but what i am reading is simply shameful.Is this why we all here?Dont you guys know where to do effective propanganda?Its really not too polite and ethical to ask anyone to bank here or there,its a personal choice thing.Lets talk of how to helpp the less privilaged,lts talk of how to create more jobs for the younger ones who are coming out of school.
Lets not waste the time that we dont have

Cheers

K and P were more than enough for people to know who I am talking about. Cowardice on internet , mogbe!!

IB plc is not a private company.it is a public company listed on the stock exchange therefore it is imperative they disclose the true state of the bank to the general public and most especially their shareholders.
while i may agree that IB plc maybe having short term liquidity problems,it does not mean they are in trouble as they have still been meeting their obligation to custs.
there is liquidity squeeze in the system and it has affected all the banks and it is compounded by the banks refusing to borrow each other funds.

Dayo Coker may have from the onset been doing his job informing people of the precarious situation IB plc and other banks may be heading towards only for the bank in question to attack him instead of dealing with all the issues raised.And of course he will want to prove that he is correct.

Unfortunately,CBN cannot be trusted as its Gov has been indicted hobnobbing with these bank chiefs.
finally,IB plc is not in any distress, isn't that so obvious

The truth has been revealed!!!!
The source of the attack on Intercontinental bank has been exposed!
It is not fellow banks trying to De-Market Intercontinental bank!

It is the same Northern Cabal that has held Nigeria back all these years, trying to take over the banking industry which they lost a grip of during the consolidation exercise!
To all you guys who have been trying to pull down Intercontinental bank, Read the article below culled from Vanguard Newspapers!
The Dayo Coker Blogger is not real, it is just a fake name used to make it appear like a Yoruba blogger!

It's a pity how ignorant Nigerians(many of them Nairalanders) keep helping these very few oligarchs Molestation them of every opportunity and resource they have!! You better get wiser!You've been Molested with JAMB,Quota system, Land Use act, Federal character and all the other jargon they've used over the years. Now its time for the banks!
If they succeed in making Government buy stake in the top 5 banks, the first thing they would introduce is Federal Character! They sack half the people working in these banks and fill them with their illiterates , the same way they did NNPC, NPA and all the other government agencies!
You better wake up!

Read

Group plots takeover of five top banks    E-mail
Written by Omoh Gabriel & Emeka Mamah   
Monday, 23 March 2009


LAGOS—ANTI-CONSOLIDATION forces have regrouped with the hope of dismantling the structures and forcing a takeover of the top five banks in the country, Vanguard can now reveal.

The grand plan by the group is to cause panic and uncertainty in the industry and make the target banks look unsafe for depositors.

Meantime, indications emerged yesterday that the Federal Government may announce the names of a new Governor of the Central Bank (CBN) and the Auditor-General of the Federation (AGF) in April just a few weeks before the tenure of the incumbents run out.

However, the Arewa Consultative Forum (ACF) has expressed concern over what it described as the rapidly deteriorating liquidity situation in the banking industry and tasked the Central Bank (CBN) to make public information on causes of the development as well as the scale of the crisis.

Vanguard investigations revealed that the aim of the anti-consolidation forces is to cause loss of public confidence in the banking industry and compel the Federal Government to move in by injecting funds. Further, they ultimately plan to instigate government to take equity holdings in the targeted banks.

Vanguard gathered that the group at work is made up of former bank owners who lost out during the consolidation exercise, a powerful clique in the present government, and some aggrieved persons in three of the six geopolitical zones in the country who felt left out in the consolidation exercise.

Presidency sources disclosed that those who felt left out in the consolidation exercise are up in arms to recoup what they felt they lost during Obasanjo years.

Part of the plans hatched by the group is to ensure that the incumbent Governor of the Central Bank, Professor Chukwuma Soludo, does not get a second term. The plan is also to ensure that whatever gains consolidation recorded are discredited. This, it was learnt, was meant to force the President to act quickly in the matter of appointment of a successor to Soludo as they anticipate that the president’s slow move may scuttle their dreams and cause the renewal of Soludo’s re-appointment for a second term.

The group’s second game plan is to make Nigerian banks look unsafe in the eye of the banking public. Part of the game is to spread rumours that some banks are unsound and are on the verge of collapse. They send out text messages to individuals and account holders passing wrong information on their target banks. At the moment, the group’s target is one of the high-flying new generation banks where they have sent out several messages.

Links
http://www.vanguardngr.com/content/view/31666/41/

[url]http://www.businessdayonline.com/index.php?option=com_content&view=article&id=3872:group-plots-takeover-of-five-top-banks-vanguard&catid=122:press&Itemid=202
[/url]

I'm going to drop a bomb very soon. Then everyone will see that this bullshit northern oligarch conspiracy is a story that was hatched by Emeka Anaeto and his underlings at Intercontinental Bank's PR desk. Maybe you Intercontinental Bank staff members should tell this forum how much your bank has contributed to Vanguard's Bankers Awards since its inception. Vanguard is an undistinguished ragsheet. Stop spinning conspiracy theories and answer the real questions. I have just obtained documents showing the incredible dealings between Intercontinental Bank and Tropics Finance, owned by Mrs Tolulope Olufunmilayo Anthonia Akingbola, Erastus's wife. The only reason that Intercontinental hasn't collapsed is because of RCCG and the corrupt public sector. Wait for the bomb. It's coming very soon.

By the way, when I looked in the mirror this morning, I didn't look like a northerner.

dayo.coker@gmail.com
daycoker.wordpress.com