Adesiji77:

http://punchng.com/cbn-gives-loan-skye-bank/

There was no sign that the bank had problems until the MD was arrested in connection with Diezani election money.

OlujobaSamuel:
huh, serious gobe dey ooo.
I can't withdraw more than #10000 at a go on a Skye bank ATM in my current location in oyo state, I was scared thinking it was a restriction on my account, I contacted my bank through mail, the bank advised I use another bank machine. People should be careful with their funds oooooo.
The funniest part is that the #65 charges is still applicable on that ridiculously low amount allowed on their machine.

I think it's everywhere now. it happened here in Lagos too. Skye bank is seriously going through challenges. I pity those that are banking with them.

Adesiji77:

http://punchng.com/cbn-gives-loan-skye-bank/

This almost the same thing that Sanusi Lamido Sanusi did and some myopic and tribal bigots were accusing him of vendetta mission.
The topmost priority for the CBN to do is to safeguard depositor funds, not shareholders' fund. If the managers and board need to be sacked in-order to stabilize the bank, so be it. The privileged rich must also pay dearly for their sins!

OlujobaSamuel:

do you really think it's the fault of those raising the panics?
we are in a nation where you don't easily get credit facility, where you hardly get apologies talk more of compensation, how do you expect citizens having life savings to react? it's not just about withdrawals, shareholders too will be selling off their equity, you can't also blame them since there is no guarantee for higher value tomorrow.
Panic is not just about Skye or Nigerians, it happens anywhere an organization dealing with public fund is in distress, it's similar to fuel scarcity.

If anyone has fears, let him or her share it. It's wrong to write misleading articles with wrong analysis that would instigate fear and unjustifiable actions

Icecomrade:


If anyone has fears, let him or her share it. It's wrong to write misleading articles with wrong analysis that would instigate fear and unjustifiable actions

ok, anyway, I'm not an analyst so I no write anything, but I don tell my kins wey be customers to soft pedal.

Icecomrade:


If anyone has fears, let him or her share it. It's wrong to write misleading articles with wrong analysis that would instigate fear and unjustifiable actions

You can't really blame people who panic. There is usually no smoke without fire.

A client of mine once shared a story of how he was able to get his funds out of a bank some years ago before it "packed up". Just before the bank went under, an insider asked him to withdraw ALL his funds. He is forever grateful to this individual.

It may interest you to know that way back November 2015, some sources warned of the current situation. See below;

https://www.nairaland.com/2764507/skye-bank-tops-9-nigerian#40429006

https://www.nairaland.com/2766842/skye-bank-tops-nine-nigerian#40461869

Extract....

The Central Bank of Nigeria (CBN) has discreetly worked on stress tests in which at least nine commercial banks have demonstrated a level of distress that requires they recapitalize in order to avert the banks’ possibly falling into distress. Emphasizing that none of the affected banks was “in imminent danger of collapsing,” a source at the Central Bank of Nigeria (CBN) told SaharaReporters that the regulatory bank’s action was meant to pre-empt any bank collapses in the near future.

The worst hit bank is Skye bank where is facing a serious level of distress that could lead to its total collapse.

According to the source, several of the affected banks have neglected to maintain healthy capital liquidity levels. As a result, some of the banks were described as tethering on the brink of collapse.

OlujobaSamuel, july66, mikeapollo, dearie, davide470,Truth234

OlujobaSamuel:

do you really think it's the fault of those raising the panics?
we are in a nation where you don't easily get credit facility, where you hardly get apologies talk more of compensation, how do you expect citizens having life savings to react? it's not just about withdrawals, shareholders too will be selling off their equity, you can't also blame them since there is no guarantee for higher value tomorrow.
Panic is not just about Skye or Nigerians, it happens anywhere an organization dealing with public fund is in distress, it's similar to fuel scarcity.

you are definitely right!.. we can't blame anyone really! but it will also be good for those who are vast in such area to come out and explain things exactly as they are so that people can make their decisions fairly!... without causing too much panics!!

Adesiji77:


You can't really blame people who panic. There is usually no smoke without fire.

A client of mine once shared a story of how he was able to get his funds out of a bank some years ago before it "packed up". Just before the bank went under, an insider asked him to withdraw ALL his funds. He is forever grateful to this individual.

It may interest you to know that way back November 2015, some sources warned of the current situation. See below;

https://www.nairaland.com/2764507/skye-bank-tops-9-nigerian#40429006

https://www.nairaland.com/2766842/skye-bank-tops-nine-nigerian#40461869

Extract....


OlujobaSamuel, july66, mikeapollo, dearie, davide470,Truth234

You are right, but now that the CBN has injected liquidity/operating capital into the bank I think that will allay depositors' fear. AMCON went about it the wrong way, no prior announcement, nothing. Yet AMCON was part of the problem according to insiders.

Adesiji77:


You can't really blame people who panic. There is usually no smoke without fire.

A client of mine once shared a story of how he was able to get his funds out of a bank some years ago before it "packed up". Just before the bank went under, an insider asked him to withdraw ALL his funds. He is forever grateful to this individual.

It may interest you to know that way back November 2015, some sources warned of the current situation. See below;

https://www.nairaland.com/2764507/skye-bank-tops-9-nigerian#40429006

https://www.nairaland.com/2766842/skye-bank-tops-nine-nigerian#40461869

Extract....


OlujobaSamuel, july66, mikeapollo, dearie, davide470,Truth234

You should be properly informed before responding to my post.

Who told you skye bank has gone under?

Your friend withdrew all his money last year. If I may ask, Do you know of any one which skye bank has not met his or her obligation as at yesterday?
The point is that people like you think you are informed, but sadly you are not.

The test of a distress bank is one which is unable to meet his obligations to its customers.
CBN has CRR ratio which all banks must meet at all times. In Nigeria this ratio is as high as 18%. Some banks is as high as 20%.

This is only a control indicator. It does not mean the bank is distressed.
If you need a more informed education let me know

OlujobaSamuel:

ok, anyway, I'm not an analyst so I no write anything, but I don tell my kins wey be customers to soft pedal.

And they didn't ask you why?

That's funny

bettercreature:
Money can never solve Skybank problem it is the The most useless bank in the world

This is quite harsh of you. Skye bank is one of the systemic banks in the country. Meaning its collapse can mean worse for the Nigeria economy. #THESKYEISBIGENOUGH. So change the mentality.

july66:
There was no sign that the bank had problems until the MD was arrested in connection with Diezani election money.

The former GMD of Skye bank was never arrested in connection with Diezani election funds. Please always get your facts straight to avoid misleading people. Thank you.

Icecomrade:


And they didn't ask you why?

That's funny

definitely, they did. my dad was a victim of Savannah bank, my dad and mum lost shares in intercontinental bank, my mum got to skye as a result of Skye taking over afribank. For a household having gone through such experience, I need little conviction to get them on alert mode.

Icecomrade:


You should be properly informed before responding to my post.

Who told you skye bank has gone under?

Your friend withdrew all his money last year. If I may ask, Do you know of any one which skye bank has not met his or her obligation as at yesterday?
The point is that people like you think you are informed, but sadly you are not.

The test of a distress bank is one which is unable to meet his obligations to its customers.
CBN has CRR ratio which all banks must meet at all times. In Nigeria this ratio is as high as 18%. Some banks is as high as 20%.

This is only a control indicator. It does not mean the bank is distressed.
If you need a more informed education let me know

we don't need to wait till they can't fulfill customers obligations before we caution ourselves.
in my view, they currently are falling short of their duties, see my first comment on this thread and see about 2other comments stating same experience in Lagos state. That's reducing the amount you can get on their machine to #50000 max in a day.

Icecomrade:


You should be properly informed before responding to my post.

Who told you skye bank has gone under?

Your friend withdrew all his money last year. If I may ask, Do you know of any one which skye bank has not met his or her obligation as at yesterday?
The point is that people like you think you are informed, but sadly you are not.

The test of a distress bank is one which is unable to meet his obligations to its customers.
CBN has CRR ratio which all banks must meet at all times. In Nigeria this ratio is as high as 18%. Some banks is as high as 20%.

This is only a control indicator. It does not mean the bank is distressed.
If you need a more informed education let me know

I think you need to read my post again, this time, very slowly so that you can comprehend.

Where in my post did I mention that Skye Bank has gone under?

However, if you are not living in denial, you can go back and be truly informed about what really happened to Skye Bank.

You think if CBN did not intervene, the bank's going concern status can be assured with its huge non-performing loans and low-liquidity level?

Continue deluding yourself.

This is not a campaign of calumny against Skye Bank. It is in the interest of the economy for the bank to continue in business being a systematically important bank (SIB).

For the records, I do not "think I am informed" but enjoy learning every day. You can keep your "informed education", thanks.

OlujobaSamuel:

we don't need to wait till they can't fulfill customers obligations before we caution ourselves.
in my view, they currently are falling short of their duties, see my first comment on this thread and see about 2other comments stating same experience in Lagos state. That's reducing the amount you can get on their machine to #50000 max in a day.

Google up CBN recent policy on ATM withdrawals.
You need to be informed

Icecomrade:


Google up CBN recent policy on ATM withdrawals.
You need to be informed

sincerely, I'm just hearing this, I hope it's not a cbn directive because that's just so so wrong. If true, then my bank should have told me that instead of advising me to use another machine.
pls bro, kindly help with the link to it.

Adesiji77:


You can't really blame people who panic. There is usually no smoke without fire.

A client of mine once shared a story of how he was able to get his funds out of a bank some years ago before it "packed up". Just before the bank went under, an insider asked him to withdraw ALL his funds. He is forever grateful to this individual.

It may interest you to know that way back November 2015, some sources warned of the current situation. See below;

https://www.nairaland.com/2764507/skye-bank-tops-9-nigerian#40429006

https://www.nairaland.com/2766842/skye-bank-tops-nine-nigerian#40461869

Extract....


OlujobaSamuel, july66, mikeapollo, dearie, davide470,Truth234

thanks for the link. I was searching for it few weeks ago but couldn't get it, some people thought or are creating the impression that the banking issue is as a result of apc/pmb seeking for looters.
I'm also searching for another that detailed Nigeria economy before last year election. Can you pls help?
What pains me most is that economists that should save the nation are interested in joining the politicians in their nonsense roforofo.

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