Nigeian Banks Advertising On Cnn Everywhere And Everyday - Politics - Nairaland
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| Nigeian Banks Advertising On Cnn Everywhere And Everyday by SamMilla1(m): 2:14pm On May 15, 2009 |
I know that's their business but i was thinking last time. I have never seen any other banks, Like RBS, ABN AMRO, FORTIS and many more Giant Banks Advertising like that on CNN. A minute costs them not less than half a million Naira and they do it everyday while they cant give their people loans without a collateral that covers the loan threefold. I was Watching Larry king live This Morning in Holland and there it was : BANK PHB - INTERCONTINENTAL. Four days ago in Berlin, I saw the same thing. Zenith Bank, UBA, blablabla, What baffles me is they advertise this more than 20 times daily. What for?Who are they advertising for here? What are they telling the westerners, that they have money to throw around while we sit back and blame Yar'adua. I dont support that idea at all. People need the money down there. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by Nobody: 2:18pm On May 15, 2009 |
I share your sentiments, however, you should know that those banks are privately owned and receives little or no assistance from the government. In that case, I wouldnt question what they do with their money so far its within the confines of the law. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by REALTRUTH1: 2:32pm On May 15, 2009 |
nuzo:All the banks in Nigeria are fraudulent and money laundry banks,,,they dont have any product to advertise on CNN except that they would tell you cars would soon run on waters someday in naija,,, What is there purpose or reason for such advert?its just fraud period! In exception of FBN and GTBank,,,others are just fraudulent |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by blacksta(m): 2:39pm On May 15, 2009 |
Banks that dont lend money- what is the point. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by Nobody: 2:51pm On May 15, 2009 |
REAL TRUTH: I dont think you got the posters concerns. He is talking about why these banks advertise with such amount of money while their customers cannot access small loans. Whether these banks are built on corruption or not is entirely a different issue waiting to be tackled. Your exclusion of GTB and FBN from banks that thrive on corruption is ridiculous. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by Fhemmmy: 3:17pm On May 15, 2009 |
Na today? Nigeria and all they stand for has always have their priority messed up. Nigerian banks having a commercial on CNN for americans and yet the govt can make something happens. Any financial institution that cant give loan is screwed up. Whoever is their advicer needs to be fired. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by blackspade(m): 4:07pm On May 15, 2009 |
Don't a few of those banks have branches in the West? |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by Eziachi: 6:08pm On May 15, 2009 |
I am glad someone brought this up because I had always wondered why Nigerian banks especially ZENIT advertises daily on CNN and also sponsors weekend edition of INSIDE AFRICA programme also on CNN. Trust our people to always get their priorities wrong all the time be it govt or private. Advetising meant to be target your customer base, so what customer base has these bank got in the west and all over the world, or just to show of in the wrong place? I will think that the money they use in advertising for a single month of a year on CNN will open a branch somewhere in Nigeria or west African coast where Nigerians does or has lots of businesses. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by MrCrackles(m): 6:12pm On May 15, 2009 |
Topic Waste of time! |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by blacksta(m): 6:16pm On May 15, 2009 |
They even advesrtise at heathrow airport and gatwick esp Zenith |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by MrCrackles(m): 6:30pm On May 15, 2009 |
blacksta: I wish to know how much revenue it has pulled in for the banks sef! I am sure the cost of the advertisement outstrips the revenue the barrage of advertisement has pulled in! |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by biina: 6:48pm On May 15, 2009 |
The logical argument would be that their current capital base, which was forced through capitalization and consolidation, requires that they be aggressive in investment. Unfortunately, the Nigerian economy is not healthy enough to turnover credit, making most loans granted to the Nigeria economy failed instruments. Thus they are seeking new opportunities in the global marketplace. The more plausible explanation is that they are simply showing off themselves as the premier bank in Nigeria, and the financial sense in the move is overlooked, given that most of their books are doctored in the first place. The truth is likely a mix of both. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by yicob(m): 6:49pm On May 15, 2009 |
Continuous awareness makes the stranger a customer. What i see, i remember. It pays to advertise ! Indirectly, people's minds are being branded with these banks. The ads are not focused on Nigerians in Nigeria alone but to those oustide the 3rd world country. Have u guys forgot that these banks have branches all o'er the world. If advertising is expensive, try ignorance ! |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by MrCrackles(m): 6:52pm On May 15, 2009 |
biina: I am afraid they will struggle to get anything tangible in, from the global market place! Fishing in a bath tub i will call the whole sporadic advertisement moves!! 1 Like |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by biina: 6:58pm On May 15, 2009 |
MrCrackles:You give them too much credit. I would rather liken it to hunting for an elephant in the thicket of a Persian rug |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by MrCrackles(m): 6:59pm On May 15, 2009 |
biina: Hehe!!   1 Like |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by mustafar1: 7:03pm On May 15, 2009 |
| is it not the i must outshine/impress/oppress my rival mentality we nigerians have in our DNA |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by biina: 7:04pm On May 15, 2009 |
yicob:Market ~= Sales, particularly in the banking sector. The global banking sector is highly politicized, with companies and governments opting for their local banks as first choice, only venturing outside when their needs cannot be met locally, and even then, they would go to the big banks of the developed countries. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by yicob(m): 7:14pm On May 15, 2009 |
The big banks didn't get there in a day. Continuous advertising, professionalism at work and good customer relationship management etc brought them to the BIG status. Naija banks are emulating their western counterparts. Are they complaining they spend too much ? Neither are the Advertising agencies tired of being Cr8tif. Expect an Ad in the Moon when u travel there. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by MrCrackles(m): 7:22pm On May 15, 2009 |
yicob: Anyone can advertise anywhere and infact i expect an AD in my toilet soon, but will the message be picked on by the intended audience? That is the big question! Nigerian Banks should concentrate on keeping thier dodgy in house practises clean, be more transparent and professional Not frivolously spending depositors cash on projects which wont bring in some tidy returns! |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by Kobojunkie: 7:26pm On May 15, 2009 |
yicob: When you say these banks have branches outside of Nigeria, do you have a particular bank in mind here? Have you ever tried opening an account with one of the branches outside of Nigeria at all? |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by yicob(m): 7:43pm On May 15, 2009 |
@ Brash, With the restructuring and recapitalization taking place in the banking sector, we should be able to match other western banks. Advertising is never a waste of money. The returns may not be immediate but it would surely come. @ Kobo, Gt bank 62, Margaret street, london w1w 8tf. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by SamMilla1(m): 7:45pm On May 15, 2009 |
 Kobojunkie: Exactly. I wanted to ask the same question. Maybe what they refer as Branches are just partners that aid them in money laundering and deny them if the need arises. I believe all these money being stashed away in Switz banks were not transported to Switzerland physically. Any one can believe anything but i am sure some South African Banks are doing greater than Nigerian Banks Yet You never see any of them on CNN. Its a pity that those who can stop this are also involved. We must all stop dreaming of A good Re-branded Nigeria. Its far from Reality. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by Kobojunkie: 7:56pm On May 15, 2009 |
yicob:@ Kobo, Gt bank 62, Margaret street, london w1w 8tf. [quote][/quote] GTB UK offers personal banking services equivalent to that obtainable in other western banks. Why is the same bank unable to offer comparable service in Nigeria? |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by yicob(m): 8:02pm On May 15, 2009 |
When You are in Rome, . . . . . . |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by Kobojunkie: 8:05pm On May 15, 2009 |
Well, I have tried calling up some of those banks and the packages I got were appalling. I remember trying to deal with UBA here. It was about the same ridiculousness as one would get from those in Nigeria. I was told that in order to open an account, I needed almost 1k or more. And I would need to submit my credentials and what nots. I had to laugh cause there was no way in hell I was willing to send my US credentials to UBA. roflmao!! |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by Jairzinho(m): 8:08pm On May 15, 2009 |
thank you poster,I raised similar concerns some time ago & many criticised me. https://www.nairaland.com/nigeria/topic-146596.0.html#msg2436666 No investor will come to a country where there's no power,lack of security and endemic corruption. I suspect they are just trying to spend their ill-gotten govt wealth very fast . . . . |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by yicob(m): 8:09pm On May 15, 2009 |
You wont blame them for asking for your credentials. There are banking/professional ethics. If thats the way they do it , no problem. They cant bend the rule cos of you. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by Kobojunkie: 8:16pm On May 15, 2009 |
I know but it was just too funny. For one they had no customer center. The whole transaction was to take place over the phone and mail. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by yicob(m): 8:20pm On May 15, 2009 |
C'mon gurl, slow and steady wins the race. They will get there. You cant compare foreign logistics with the way we do things in naija. |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by biina: 8:23pm On May 15, 2009 |
I won't blame only the banks, as they are just a reflection of the believe of the average Nigeria that their is always a shortcut to success. The banks should go back home and help finance interests in building infrastructures that would bring about a productive economy that would better support their business. They are day dreaming, if they feel businesses in other countries will patronize them at the expense of their own local banks. 1 Like |
| Re: Nigeian Banks Advertising On Cnn Everywhere And Everyday by biina: 8:24pm On May 15, 2009 |
yicob:slow and steady? Then why are they advertising in the global market if their practices are not yet up to par. They are in no position to cash in on any interests the said ads might drum up |
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