Aloy~Emeka:

Why should CBN sack the chief executives of a private institution?. Govt control over private businesses should be curtailed unless you guys want mega lay offs to hit the bank sector soon. This is the same govt that cannot take care of its business very well leaping further to visit their corruption on the private sector. All these happy NL's de make me laugh.

blacksta:

Charles soludo must have been a bloody crook? - The only thing  people on d street can associate with his reign at CBN was " Consolidation and ATM"

Am i right to say good riddance to bad rubbish

Neptunz:

Rechanneling of 9ja money to the north, end of discussion.

mikeansy:

Lets not turn this debate into another Sanusi vs Soludo

Consolidation shielded our country from the effects of global downtown, ATM was an attempt to bring Nigeria's banking processes in tune with the 21st century. If these achievements are what makes a man a crook, I wanna be one.

Firing 5 CEOs abruptly and replacing them with some of your pals at FBN does not sound like much of an achievement to me.
For the sake of our country we all hope that Sanusi succeeds, but its still early days to predict but I wish him well, if not for anything for the sake of Nigeria.

[b]By the way since he entered he has done nothing more than talk down our baking system and each time he does this it sends ripples to the Stock Mark[/b]et. One momment Nigeria's Banks are not sound, the next moment 5 CEOs are sacked. Each time Naira drops against the dollars.
Yes the CBN is a regulatory body, but if you continue to undermine the system and it crashes, you will have nothing to regulate.

We need an integrated and positive approach to Banking reform whenever necessary, not just to grab headlines.

hollandis:

Why was unity bank a.k.a bank of the north left out of the ensuing melee?Can Sanusi convincingly tell Nigerians that Bank of the North scale the "tier 2 capital" hurdle?

Dis Guy:

ripples to what stock market? the one that is also cooked by madam?
its better we stop playing ostrich and do something once and for all!!
everyone knows the banking sector is mashed up! how in the world do you
send people on the street to get deposits

mikeansy:

Lets not turn this debate into another Sanusi vs Soludo

Consolidation shielded our country from the effects of global downtown, ATM was an attempt to bring Nigeria's banking processes in tune with the 21st century. If these achievements are what makes a man a crook, I wanna be one.

Firing 5 CEOs abruptly and replacing them with some of your pals at FBN does not sound like much of an achievement to me.
For the sake of our country we all hope that Sanusi succeeds, but its still early days to predict but I wish him well, if not for anything for the sake of Nigeria.

By the way since he entered he has done nothing more than talk down our baking system and each time he does this it sends ripples to the Stock Market. One momment Nigeria's Banks are not sound, the next moment 5 CEOs are sacked. Each time Naira drops against the dollars.
Yes the CBN is a regulatory body, but if you continue to undermine the system and it crashes, you will have nothing to regulate.

We need an integrated and positive approach to Banking reform whenever necessary, not just to grab headlines.

Beaf:

It must be against the law for govt to sack people in the private sector. Can't they take them to court if there is evidence of corruption? Some of these people own the banks eg Ibru. I'm shocked!

Beaf:

It must be against the law for govt to sack people in the private sector. Can't they take them to court if there is evidence of corruption? Some of these people own the banks eg Ibru. I'm shocked!

Beaf:

It must be against the law for govt to sack people in the private sector. Can't they take them to court if there is evidence of corruption? Some of these people own the banks eg Ibru. I'm shocked!

naijaking1:

I'm also surprised that the government-through CBN has so much control over these "private" banks.
We should not cross that line bewteen regulating and running banks.

If the government begins to run banks as some myopic people might like, we would end up with the inefficiencies of the National Universities commission, NEPA, Nigeria Airways, and NITEL(before OBJ wisely cut them down to size).

Firing 5 bank chiefs sound ok if they're uniformly stealing from their customers, but I don't for once believe that all of them did that. We run the risk of loosing people's confidence in Nigerian banks, if abitrary and non-standard techniques are applied to remove bank CEOs. Talking about attracting foreign investments

doyin13:

Pumping 400 billion naira into a company should very much guarantee u the right
to fire and hire especially when u are the oversight body.

There is a precedent for this in the United States after it pumped tonnes of dollars into AIG
so it is not a strange occurence.

Beaf:

Do you know this people were sacked by military decree from IBB's time?

Embarrassing!

https://www.nairaland.com/nigeria/topic-310080.32.html#msg4354405

naijaking1:

Funny you should mention the US. In the US, some banks had the option to accept or reject government bail-out.
Did these Nigerian banks have that option?
Forcefully injecting money into a private bank when the management didn't ask for it is a simple, and socialist way of bringing the bank under the direct control of the government: a step that would take us back 20-30 years.