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Nairaland Forum / Nairaland / General / Investment / Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks (4848 Views)
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Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by Enjoyment1(f): 11:33am On Sep 27, 2009 |
The Governor of the Central Bank of Nigeria (CBN), Mr. Lamido Sanusi, last week had a town hall meeting with stockbrokers and members of the capital market community. Business Hallmark's OKEY ONYENWEAKU and OBINNA CHIMA present some of the issues highlighted by the Governor. http:///index.php/money_capital_market_markets_finance_corporate_banking_manufacturing_industry/2500.html |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by Enjoyment1(f): 11:35am On Sep 27, 2009 |
Why wont people sell their shares, when N2million shares, is now worth N300,000, there is no solution in sight! |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by McKren(m): 11:45am On Sep 27, 2009 |
People are selling their stocks because you have destroyed confidence in market. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by Beaf: 11:53am On Sep 27, 2009 |
Poor Sanusi! He doesn't understand He came in like a little Mussolini; exploding financial bombs here and there; but is surprised that there is a result. Its what Nigeria gets for promoting mediocrity to high places. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by CrudeOil2(m): 12:02pm On Sep 27, 2009 |
I don't know why Northerners love retrogression and stagnation. WHY!!! |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by Enjoyment1(f): 7:07pm On Sep 27, 2009 |
I must confess, not all of them are like that. Those that were born here and schooled in the southern part are far better. Their way of reason is totally different. But those up there, are nothing to write home about, as that ideology still remain unerased. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by bibiking1(m): 9:07pm On Sep 27, 2009 |
I think i am a bit worried by some of sanusi's reactions to facts and also his general outlook towards the post-restructuring banking sector. He re-echoed a popular cliche about the banking sector accounting for about 70% of the market, and basically denounced this trend. He thereafter expressed no comment on the issue, no remedial suggestion We all know the de-industrialisation of the economy is responsible for the financial sector taking up so much space in the stockmarket. With sanusi's new action banks have been forced to stop lending, further dampening the outlook of the nation's manufacturing sector getting to its knees from its current prostrate position. I am also not too comfortable with sanusi's reticence on his plans (short and long) for the banking sector post-brouhaha. How do we monitor the effect and impact of Sanusi's new children at the helm of affairs of these new banks? When his new CEO's fail to do that which they were hired for, what actions would and should be deemed necessary against them to avoid double standards? There has to be a disciplined approach to lending to the manufacturing sector and not a no-lending situation we currently are witnessing. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by Enjoyment1(f): 9:13pm On Sep 27, 2009 |
I will go with you 100 per cent!. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by sjeezy8: 9:16pm On Sep 27, 2009 |
is this guy foreal for a second before i thought he was somewhat a sensible guy very daft indeed- caused alarm and now we are seeing the after effects |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by Enjoyment1(f): 9:24pm On Sep 27, 2009 |
May GOD save us from these politicians. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by SEFAGO(m): 1:22am On Sep 28, 2009 |
Sanusi is an IDIOT. Mallam should go back to cattle banking. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by dipo2much(m): 1:33am On Sep 28, 2009 |
This Sanusi guy is a joke. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by hbrednic: 3:05am On Sep 28, 2009 |
the guy may be good intentioned,but his undemocratic approache is the cause of the controversy. what is the guarrantee that the CBN's apointed pupperts will be able to turn this banks around? how can the banks make profit when they are not lending? confidence in the system has been destroyed,it will take yrs+yrs to rebuild it. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by rasputinn(m): 4:11am On Sep 28, 2009 |
McKren: sjeezy8: dipo2much: [size=14pt]You guys have hit the nail on the head[/size] |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by sartorius(m): 7:02am On Sep 28, 2009 |
the actions by the Central Bank of Nigeria (CBN) in the last seven weeks have slowed down economic activities in the country. A clear indication that the economy is on the back foot is glaring in the construction and real estate sectors where demand for cement and other building materials have fallen below the seasonal demand recorded during the same period (rainy season) in previous years. another indication of where the economy is headed is the recent appreciation of the naira against the US dollar at the weekly Wholesale Dutch Auction (official market) conducted by the CBN in the face of declining oil prices (oil slumped to $64 per barrel by Saturday). This is the surest sign that demand for foreign exchange has declined considerably in recent weeks making it possible for CBN to meet weekly demand. Compare this to less than six months ago when the apex Bank struggled to meet the weekly importation bill and did all it could to protect the country’s foreign reserves from rabid speculators. All the above are clear pointers to the fact that commercial banks are lending less to the economy which is impacting adversely on economic activities. http://www.thisdayonline.com/nview.php?id=155657 |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by tp2philike(m): 7:14am On Sep 28, 2009 |
imagine what the price of those stocks were before his hammer,he should have known that the major causes of fluctuation in share are politics,market hear say and unrest, which led to the lost of confidence in this shares. This shows how myopic and unsensitive he was.Its high time we did away with this Northerners, they are the cause of our under-development as a nation.They have nothing to offer other than the cattle they rear for consumption. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by DisGuy: 7:50am On Sep 28, 2009 |
McKren: really the bubble burst last year!!! he was not even appointed yet haba mallam! actually in other countries investors will be BUYING MORE BANK SHARES RIGHT ABOUT NOW! they know the companies will do well in the future after a big hit, in nigeria with the whole mago mago in the NSE they should be cautious but all the same this is how you buy a bank, when everyone is selling you keep buying it till you become the major shareholder!! |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by Ben13: 7:59am On Sep 28, 2009 |
He's beginning to wonder when it's just morning |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by bidemi12(m): 8:00am On Sep 28, 2009 |
UP NIGERIA. As i am sitting here i am as naked as the day i was born. And in my birthday suit i swear that all those so called leaders, including those that have beneffitted from their bad policies and corruption, past and present, will forever rot in hell. He took a bazooka to kill a mosquito and is now wondering why his house is a rubble. Kai!!! |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by SEFAGO(m): 8:11am On Sep 28, 2009 |
actually in other countries investors will be BUYING MORE BANK SHARES RIGHT ABOUT NOW! they know the companies will do well in the future after a big hit, in nigeria with the whole mago mago in the NSE they should be cautious but all the same this is how you buy a bank, when everyone is selling you keep buying it till you become the major shareholder!! yeah that is true in naija, the probability is that you would likely own a lot of tissue paper (worthless share certificates), than actually own a bank- how much shyting can one do |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by DisGuy: 8:18am On Sep 28, 2009 |
SEFAGO: as much as possible and to the aghast of mckren and co I will rename the bloody institution = Mallam international Bank-impossible redefined! Do you know how good it feels having your own website with this gibberish--Of a truth some are born great, others achieve greatness, while others still have greatness thrust upon them. But rarely do we have these three attributes combined so well in an individual- Sir Mallam Babayaro Maiturare OON,SPG signing out! |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by Outstrip(f): 8:18am On Sep 28, 2009 |
I don't think he sounded callous at all. He was speaking to professionals so he simply just had to be real. They know what's up. I think it is still the time to buy shares especially since they basically can't fall any lower. Besides what's the point of selling something when you have already lost most of the value. If you have not sold by now I say just leave it where it is even if it takes years to recover. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by slap1(m): 8:24am On Sep 28, 2009 |
Whatever our disscusions may be, let us not veer towards tribalism. Sanusi is not really d problem, recall dat over 30 or so US banks failed this year. There is also a Global Economic Meltdown, how can we hope to be left out in all these. Let d tribalists in d house also remember dat d north, which Sanusi is ostensibly protecting, is also not excluded in this current problem. Finally, like som1 in d house holds, opinion is like a hole in d a*se, everybody's got one. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by slap1(m): 8:24am On Sep 28, 2009 |
Whatever our disscusions may be, let us not veer towards tribalism. Sanusi is not really d problem, recall dat over 30 or so US banks failed this year. There is also a Global Economic Meltdown, how can we hope to be left out in all these. Let d tribalists in d house also remember dat d north, which Sanusi is ostensibly protecting, is also not excluded in this current problem. Finally, like som1 in d house holds, opinion is like a hole in d a*se, everybody's got one. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by slap1(m): 8:25am On Sep 28, 2009 |
Whatever our disscusions may be, let us not veer towards tribalism. Sanusi is not really d problem, recall dat over 30 or so US banks failed this year. There is also a Global Economic Meltdown, how can we hope to be left out in all these. Let d tribalists in d house also remember dat d north, which Sanusi is ostensibly protecting, is also not excluded in this current problem. Finally, like som1 in d house holds, opinion is like a hole in d a*se, everybody's got one. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by sayso: 8:27am On Sep 28, 2009 |
@Mr. Lamido Sanusi hope you are reading this,if I happen to get to you I will knock you on that your boro boro face,what do you expect from Nigerians after that stunt you pulled on the Banks |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by DisGuy: 8:30am On Sep 28, 2009 |
Outstrip: True, those selling should be thinking ' who in the right mind is buying'- those buying now are not idiots they know in the long term it will turn around, people are so used to quick 2 weeks transactions they forget long term investment. And just to turn the screw on- the people buying these shares you are selling now are arabs, muslims and northerners! they are about to take over with the help of this mallam- you better not let them!!! |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by SEFAGO(m): 8:30am On Sep 28, 2009 |
Whatever our disscusions may be, let us not veer towards tribalism. Sanusi is not really d problem, recall dat over 30 or so US banks failed this year. There is also a Global Economic Meltdown, how can we hope to be left out in all these. I am stating explicitly that I am using speculation here. But I dont think the global economic meltdown has much to do with naija banks- those US banks did a totally different type of business than naija banks. They were more exposed to risks than average nigerian banks- I for one don't think Sanusi is a problem persay---> But I still think in unqualified, and incompetent, I might one day eat my words- and I would be happy if that happens- but for now, I am waiting to see what sanusi plans to do to transform the banking industry in nigeria. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by SEFAGO(m): 8:33am On Sep 28, 2009 |
I try not to include tribalism in any of my thoughts because I have no knowledge of any hausa person and haven't interacted with one b4 so i cannot judge one ethnicity or the other. But sometimes, some of Sanusi's actions and statements don't display much intelligence. For example: Did he really say this !!!! If this economy is going to recover, we must understand that it is not just about money. Money is a simple matter, because, as you know, we print money. Does he think we are idiots. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by bidemi12(m): 8:40am On Sep 28, 2009 |
@ sefago i dont really like the guy, but what is wrong in that statement? i think he talking about institutions and foundations. Yes, we can print a gazzillion naira, but on basis are we printing the money. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by Rooneyboy(m): 8:50am On Sep 28, 2009 |
An Aboki still remains an Aboki no matter how learned he is. Their thinking faculty still drops to a certain extent. |
Re: Sanusi At NSE: I Am Surprised People Are Selling Bank Stocks by SEFAGO(m): 8:54am On Sep 28, 2009 |
I actually understand where is coming from- now that I read the whole thing again, although the thing was a bit jagged, but i think that statement was redundant, but my fault, i should have read more closely, curious, was this a press release or a speech he gave. And second thought is the problem with Nigerian banks really[i] Corporate governance[/i]? An Aboki still remains an Aboki no matter how learned he is. Their thinking faculty still drops to a certain extent. That is not true- all humans are created equal (not in intelligence, but in the potential to reach heights of intelligence. He is just not qualified for the job, replace it with yoruba, igbo, ijaw, warri na the same Sanusi is doing this the wrong way, especially in a time where everyone has lost confidence in our banking models |
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