mikeansy:

who determines a leading or lagging bank?

mikeansy:

and how does it matter to this debate?

Afam:

Now, people are manufacturing reasons to include sacking additional 3 just to prove that the Vanguard report was wrong. Why must we get to this?

So, the number 5 is the only important parameter to support a newspaper report even when the report claimed there was a plan to take over the 5 top banks in the country by the North.

Meanwhile, how many of the new MD/CEOs are from the North?

Let us for once stick to facts, logic and common sense. Present the facts let the reading public make up their minds. Do not attempt to think for anybody and more importantly do not try to convince anybody. Just the facts.

mikeansy:

5 top banks does not translate into 5 topmost

so why is this debate an issue

You can be a top bank without necessarily being the best.
this is just a trvialization of the real issue. it is what it is, an attempt to takeover 5 banks through the back door, the position these banks maintain on the strata is of little consequence.

and on the sacking of 3 more ceos how do you explain the actions of the cbn given that they earlier told us that there wont be further sacks. why are we so ok with tolerating discordant tunes from cbn?

yawmee:

Afam, your logic would have won me if you hadn't included the Northern theory conspiracy.

Truth is that Sanusi has not given too much thought to most of these actions. The whole thing is beginning to sound like a big joke. There is no common thread of logic that binds his actions. Wema is good and BankPHB is not. Unity can survive and ETB needs cash infusion.

I will shout it on the mountain top: Sanusi's actions will not restore confidence to the banking sector. Simply because he is doing the same thing that he is punishing the banks for.

Go figure!The media will probably not tell you that.

MyJoe:

We have been told that the Vanguard story was not original. It was authored by a group determined to keep Soludo in office and sent to various media houses but was published by only Vanguard. Anyway those who allege Northern conspiracy will have to adduce proof to convince me. We all know there is a "North-South dichotomy", but we have to make assessments and draw conclusions based on facts. First a close friend told me Northerners will be appointed CEOs. When that did not materialise he told me to wait till the boards were reconstituted. Now some have been and hardly are there any Northerners. If SLS's agenda is a Northern takeover, where are the parameters for the takeover? How many northerners have the money to buy banks, anyway? Since when did Northerners start banking? Everyone talks about corruption in Nigeria, but the moment someone does something about it, this is all you hear - "selective justice", "Northern agenda", etc. Anyway, I am here, watching,

MyJoe:

We have been told that the Vanguard story was not original. It was authored by a group determined to keep Soludo in office and sent to various media houses but was published by only Vanguard. Anyway those who allege Northern conspiracy will have to adduce proof to convince me. We all know there is a "North-South dichotomy", but we have to make assessments and draw conclusions based on facts. First a close friend told me Northerners will be appointed CEOs. When that did not materialise he told me to wait till the boards were reconstituted. Now some have been and hardly are there any Northerners. If SLS's agenda is a Northern takeover, where are the parameters for the takeover? How many northerners have the money to buy banks, anyway? Since when did Northerners start banking? Everyone talks about corruption in Nigeria, but the moment someone does something about it, this is all you hear - "selective justice", "Northern agenda", etc. Anyway, I am here, watching,

MyJoe:

We have been told that the Vanguard story was not original. It was authored by a group determined to keep Soludo in office and sent to various media houses but was published by only Vanguard. Anyway those who allege Northern conspiracy will have to adduce proof to convince me. We all know there is a "North-South dichotomy", but we have to make assessments and draw conclusions based on facts. First a close friend told me Northerners will be appointed CEOs. When that did not materialise he told me to wait till the boards were reconstituted. Now some have been and hardly are there any Northerners. If SLS's agenda is a Northern takeover, where are the parameters for the takeover? How many northerners have the money to buy banks, anyway? Since when did Northerners start banking? Everyone talks about corruption in Nigeria, but the moment someone does something about it, this is all you hear - "selective justice", "Northern agenda", etc. Anyway, I am here, watching,

MyJoe:

Yes, just permutations!

yawmee:

Oh My GOD!!
So you don't see Sanusi's actions as a way to fester corruption in the country? Gees!
There hasn't been any form of transparency in the selection of the replaced CEOs. Who will these CEO's report to? Sanusi? You should be worried when you concentrate that much power in the hands of a single man and not instituition. Now he is talking about nationalising the banks? I thought less government= more efficiency.

Presently, the man has no clear exit strategy and that is my fear.

MyJoe:

Now someone is talking sensibly - the "Northern agenda" talk just galls me. The CEOs were appointed by someone who had the power to appoint them at a time the banks could not have been left without CEOs. They will report to their boards, no Sanusi. To the best of my knowledge, the man says he is not nationalising any bank. What do you mean by the exit strategy line?

MyJoe:

[(1) We expect that shareholders will be given time to recapitalise banks
(2) We are looking for new capital injection from investors from both local and foreign banks, and we would expect that the creation of an asset management company to remove some of the toxic assets and boost liquidity.
(3) We would expect that, if in the event that banks cannot be saved, we want an orderly exit. That would protect the depositors and the shareholders.
(4) And we will also consider government ownership as an interim arrangement depending on the time we are able to get buyers. So these are all options under consideration. ]

Someone please enlighten me on the main problems here.

MyJoe:

[(1) We expect that shareholders will be given time to recapitalise banks
(2)  We are looking for new capital injection from investors from both local and foreign banks, and we would expect that the creation of an asset management company to remove some of the toxic assets and boost liquidity.
(3) We would expect that, if in the event that banks cannot be saved, we want an orderly exit. That would protect the depositors and the shareholders.
(4) And we will also consider government ownership as an interim arrangement depending on the time we are able to get buyers.  So these are all options under consideration. ]

Someone please enlighten me on the main problems here.

sleekymag:

Only points to the facts that the banks have been up for grabs all along.

"Government ownership" (doesn't sound like nationalising?) - what if there are no buyers? (anyways, i have no problems with the reforms going on, but to say there is no plot therein, is being blind to reality).

I believe they'll definitely find buyers for some of the banks (the ones that had been targeted all along).

Afam:


Let us stop reading the minds of people or manufacturing excuses to support a fallacy.