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Nairaland Forum / Nairaland / General / Business / CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds (41442 Views)
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Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by gbegudujo: 11:03pm On Aug 23, 2016 |
Of course who's to be blamed I think he's Mr know all naijaGhandi: |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by Anwonspee(m): 11:03pm On Aug 23, 2016 |
Ugosample: What do you think that is already happening to the Nigerian economy without the remittance? Should I feel for them? I don't think so because they failed to assist the average Nigerians with necessary necessities. Instead, they preferred to help themselves by only listening and responding to the so called big boys for loan with little or no collateral while they asked the average Nigerians to provide heaven and earth to scare them. 6 Likes 1 Share |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by mare23ayo(m): 11:15pm On Aug 23, 2016 |
seunmsg: My Brother, if the government insist they pay all the money into TSA, what do you think would be left for those banks to operate with? just try and imagine what will happen to jobs. Don't let me say further. 1 Like |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by alizma: 11:20pm On Aug 23, 2016 |
UBA to cough out 174.9b naira? I don't see that possibility. these bank are thieves, they contribute a lot to the problems in this country. they are either acting as agents for government officers to steal our money, convert it to dollar and fly it out of the country or they receive our money and refuse to release it. not mentioning the unsolicited msg the send and deduct money from our account. 2 Likes 1 Share |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by greggng: 11:25pm On Aug 23, 2016 |
You can never find my bank in this type of shaddy dealings despite the fact that they re the ultimate bank. By now you suppose know my bank but if u don't know, the name is zennith the ultimate bank seunmsg: |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by Ugosample(m): 11:32pm On Aug 23, 2016 |
Anwonspee: You have a very valid point too. These banks have been gambling all these years, but I think a phased remittance over the next year will be more appropriate, if you know what I mean? Not just remmittamce in one full swoop. Afterall, the monies did not come in one full swoop. 1 Like |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by Ugosample(m): 11:33pm On Aug 23, 2016 |
mare23ayo: That has been my point too. 1 Like |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by aniteze(m): 11:37pm On Aug 23, 2016 |
Thank God my bank (ZENITH) is not among. |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by kulrunsman79(m): 11:41pm On Aug 23, 2016 |
And Zenith bank PLC isn't on the list? 1 Like |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by Nobody: 12:04am On Aug 24, 2016 |
Most of the banks will not be able to refund the money because they simply don't have cash to back up the amount and their assets has been depleted. I am well informed to know that CBN has been writing reminders and threatening these banks with sanctions to return these funds, but they cannot give what they don't have. Most of the funds came in when Naira was N165 to 1$ and the banks has used it for FX trading. Now it is N330 to 1$ and the forex is not even available. CBN cannot claim ignorance of the present circumstances of these banks. Now is the time for banks to re-strategized and assume their traditional conservative roles. The era of paying reckless salaries to their staffs and depending on government fund is gone. In the next couple of months, I can see the collapse of half of Nigerian Banks. Difficult times are indeed here! 4 Likes |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by DaudaAbu(m): 12:08am On Aug 24, 2016 |
Kollyman: I am even telling them that its the era of work , yet you wont get paid. Cos most of the money accruable to the federation account, hence the state gov't is held by some lazy biro t*i*fs thereby denying state workers their salary |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by Okehjp(m): 12:22am On Aug 24, 2016 |
Are these people literate at all? 1 Like |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by mafavour: 12:31am On Aug 24, 2016 |
this story is somehow because it was published sometimes back that UBA has remitted and pay the fine attached to it ! I guess the appropriate authority will debunk this claim by the online news soon. |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by tiwiex(m): 12:44am On Aug 24, 2016 |
Kollyman: We are all paying for our assumed era of free food. Maybe it was not free after all. Now the banks can't fund small businesses like before. I won't be surprised if that is connected to the rice u buy being 20k now. The money is more useful in the bank than CBN. let these people stop deceiving us with sensational news. TSA moved out, we saw the impact. When banks start sacking again, come here and say well done. There is no perfect economic system. Whatever works for us but this command and control method is so 1980 and will sink us further. 1 Like 1 Share |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by tiwiex(m): 12:54am On Aug 24, 2016 |
I think CBN is being unfair to the economy to make this announcement. The comments I read will be the same reservations by external investors. Can someone point out how releasing the news helps the banks or me and u. As a matter of fact, it puts them in a worseThese guys are still campaigning. They are ready to sabotage the economy to convince us they are working. |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by Nasa28(m): 12:56am On Aug 24, 2016 |
Next junction pls |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by Vatsyayana: 1:05am On Aug 24, 2016 |
Flexherbal: Except GTBank! I'm very proud of GTB! 1 Like |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by Vatsyayana: 1:11am On Aug 24, 2016 |
tiwiex: Do you have any idea this is economic fraud & sabotage? And you suggest the public should not be informed about this? That's how the banks withold peoples monies without letting their families know! Any bank that cannot comply with the highest standard of their profession should be publicly shamed. Those monies belong to Nigerians!!! 4 Likes |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by wayisshut: 1:30am On Aug 24, 2016 |
[quote author=fizzy4luv post=48744423]CBN; Nigerian banks can't do without Government fund , go to any Nigerian bank and tender an instrument withdrawing more than 100 million naira, you will see multitude of staff begging you not to take your own money . Its glaring that our banks are used to trading with these funds and have neglected the real sectors of the economy for so long. They declare huge profits and declare high dividends with little sweat . If an independent audit of all funds stashed in Nigerian Banks are conducted . CBN should have advised the Federal Government to have adopted a phased withdrawal of Government funds from the banking sector and not the bullet method used or even suspend it while the economy stabilize a bit while engaging reputable audit firms to examine public entities accounts to monitor funds. Banks; I pity banks , they are now being forced directly to relate and engage the real sectors of the economy via lending to help stimulate growth, they just can't seem to let go of the cake and pudding way of making fast money, one shouldn't be too fast to blame them, a lot of recalcitrant bad debtors also make the Nigerian clime a difficult terrain for lending . Lately aggressive means of recovery have been embarked upon to recover bad debts. Lastly CBN should find a lasting endearing solution , even if it means inviting all bank chiefs to discuss with the Executive arm of Govt, on how to navigate this \ HIGHLY IMPRESSED WITH THE WAY YOU ENGAGE YOUR WRITEUP. |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by shellman: 1:40am On Aug 24, 2016 |
seunmsg: |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by talktrue1(m): 1:55am On Aug 24, 2016 |
Hmmm. The dollar rise continues. |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by smemud(m): 1:56am On Aug 24, 2016 |
tiwiex:sorry bro you make no sense,bro leave sentiment aside....it seems you hate buhari .... 3 Likes |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by TheShepherd(m): 3:00am On Aug 24, 2016 |
Businessideas: GTB, the most conservative bank indeed! If only 9 of the 21 banks in Nigeria are mentioned, what has distinguished ur GTB, which is in bad loan mess as the FBN. And again, if I may ask, how did UBN ended? May be you should have mentioned Oceanic, PHB, etc. With your comment, it's either you work @GTB, or you have shallow knowledge of the industry. 3 Likes 1 Share |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by Nobody: 3:08am On Aug 24, 2016 |
egbonnla: The bold is my biggest fears with this ultimatum from CBN if not treated with utmost care. It's still the same sapped masses that will bear the brunt with loss of their deposits. |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by DICKtator: 3:25am On Aug 24, 2016 |
fizzy4luv: You are on point!!! This extreme withdrawal method may not augur well for these banks even if they charge their on call fee. These monies have been budgeted during their quarterly meeting and now this. |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by kpofkpof: 3:32am On Aug 24, 2016 |
Businessideas: Who said Heritage Bank is owned by Saraki? That statement shows you have shallow knowledge of the history of the bank. For the records, every share the Saraki family had with the defunct Société Générale bank was fully bought over by new investors. What that means is that the Saraki family have NO shares with Heritage Bank. I laugh when people link the Saraki family to something they have no business with 1 Like 1 Share |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by Nobody: 4:21am On Aug 24, 2016 |
Hope customers are save, because i don't joke with my money o |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by gloryman91: 4:22am On Aug 24, 2016 |
This useless Bank of Africa, failure Bank of Nigeria and others are in pepper soup now. |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by malele(m): 4:36am On Aug 24, 2016 |
malosky79:U are the only one that wrote what I was looking for. Later this stupid government will say there is no money and gullible Nigerians will beleive them 1 Like |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by Tearg1: 4:39am On Aug 24, 2016 |
THE APC GOVT SURVIVES ON BLAME... WHEN THEY CANT BLAME JONATHAN ANYMORE NOW THEY WILL ATTACK BANKS... WHO IS NEXT... MAYBE THEY WILL BLAME AIRPORT STAFF FOR SCARING INVESTORS AWAY. 1 Like |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by Unionised(m): 5:17am On Aug 24, 2016 |
Businessideas: How did Union Bank end? 1 Like |
Re: CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds by magabounce(m): 5:17am On Aug 24, 2016 |
fizzy4luv:Very well spoken sir 2 Likes |
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