holyfather:

Someone should tell me this is not true.

Oga, try digesting my post gently, you will pick the facts as clear as 10D cenima.

Old bankers with great insight of the system could bear me witness of the happenings I posted earlier.

But you know what? That same CBN governor was not allowed to finish his tenure. KARMA!!!

That same CBN governor introduced a tenure of 10 years maximum for MD's with the single aim of kicking out those sound MD's I talked about, forgetting that they have paid their dues as some of them like Jim Ovia, Cecilia and Akingbola have paid their dues by providing both cash, resources and enebling environment to keep them flying till some cartel brought in their jealousy

AFONAMARO:


Say only what you know. Oceanic bank and intercontinental bank were not just solid, but firm and making great profits. Mind you, Oceanic bank was the best paying bank then whereas intercontinental bank was winning the best brand back to back.

Those banks and their MD's were victimised because of personal beef. The then CBN governor and his team felt they have had enough just because certain MD's like Tony Elumelu, Jim Ovia, Erastus Akingbola and Cecilia Ibru have been at the helm of affairs even when the then CBN governor just just joined banking.

Did you ask yourself what led to the then CBN governor emerging as one even though he has just been appointed an MD of first bank a couple of months earlier?

Same way the same cartel saw that Soludo was removed as CBN governor to ensure someone ready to fight their dirty fight emerged to paint the aforementioned. But since they couldn't get the big fishes(Jim & Elumelu) Cecilia became the sacrificial lamb.

Hope you are equally aware that till date they could not convict Akingbola or point out his wrongs? Rather they hurriedly sold a whole intercontinental bank for 16b to a man owing same intercontinental 17b.

Now, who is fooling who?

Bros you are right. Aig and Wigwe Used Sanusi to set up Akingbola. The point is that Tony frustrated Sanusi out of UBA. so Sanusi wanted to pay him and Jim Ovia back. Its unfortunate Cecilia was the scapegoat. As for doz access bank guys that bought over intercontinental even though they were owing him, i dont know what to say

AFONAMARO:


Say only what you know. Oceanic bank and intercontinental bank were not just solid, but firm and making great profits. Mind you, Oceanic bank was the best paying bank then whereas intercontinental bank was winning the best brand back to back.

Those banks and their MD's were victimised because of personal beef. The then CBN governor and his team felt they have had enough just because certain MD's like Tony Elumelu, Jim Ovia, Erastus Akingbola and Cecilia Ibru have been at the helm of affairs even when the then CBN governor just just joined banking.

Did you ask yourself what led to the then CBN governor emerging as one even though he has just been appointed an MD of first bank a couple of months earlier?

Same way the same cartel saw that Soludo was removed as CBN governor to ensure someone ready to fight their dirty fight emerged to paint the aforementioned. But since they couldn't get the big fishes(Jim & Elumelu) Cecilia became the sacrificial lamb.

Hope you are equally aware that till date they could not convict Akingbola or point out his wrongs? Rather they hurriedly sold a whole intercontinental bank for 16b to a man owing same intercontinental 17b.

Now, who is fooling who?

My friend you deserve a very cold bottle of beer from me.This is the most informed post I have read all day...Thank u my brother!

AFONAMARO:


Say only what you know. Oceanic bank and intercontinental bank were not just solid, but firm and making great profits. Mind you, Oceanic bank was the best paying bank then whereas intercontinental bank was winning the best brand back to back.

Those banks and their MD's were victimised because of personal beef. The then CBN governor and his team felt they have had enough just because certain MD's like Tony Elumelu, Jim Ovia, Erastus Akingbola and Cecilia Ibru have been at the helm of affairs even when the then CBN governor just just joined banking.

Did you ask yourself what led to the then CBN governor emerging as one even though he has just been appointed an MD of first bank a couple of months earlier?

Same way the same cartel saw that Soludo was removed as CBN governor to ensure someone ready to fight their dirty fight emerged to paint the aforementioned. But since they couldn't get the big fishes(Jim & Elumelu) Cecilia became the sacrificial lamb.

Hope you are equally aware that till date they could not convict Akingbola or point out his wrongs? Rather they hurriedly sold a whole intercontinental bank for 16b to a man owing same intercontinental 17b.

Now, who is fooling who?

are you really serious? I will advice you say what you know. or are we not talking about the same Cecilia?

holyfather:

Someone should tell me this is not true.

some are true but he had sentiments to it

larryUG:

Bros you are right. Aig and Wigwe Used Sanusi to set up Akingbola. The point is that Tony frustrated Sanusi out of UBA. so Sanusi wanted to pay him and Jim Ovia back. Its unfortunate Cecilia was the scapegoat. As for doz access bank guys that bought over intercontinental even though they were owing him, i dont know what to say

Oh my God!!! God bless you real good. Never wanted mentioning names so it won't sound funny or personal. Thank God someone has just vindicated me.

He wanted being the MD of UBA at all cost, but Elumelu needed someone who understands what the brand stand for and one who is enovative. So he ran to first bank were his aim was quickly achieved politically. Bisi Onasanya was so mad when thus happened because he (Bisi) had worked for it.

That was how they end up selling intercontinental bank to the both names you just mentioned for peanut. How can a debtor who could not pay his debt suddenly have enough fund to buy his debtor?

vickylincon:
are you really serious? I will advice you say what you know. or are we not talking about the same Cecilia?

Oga, please point out Cecilia's crime with clear facts.
How was Oceanic formed, and who laboured for it?

I am not saying she is a saint, but she never deserved what happened. Please ask yourself how the bank had been surviving with the heavy pay they dole out to employees and shareholders if the going wasn't good and smooth?

Yes she might have overfed herself, but she ensured her employees and shareholders were properly fed as well.

vickylincon:
some are true but he had sentiments to it

Kindly point out the alleged sentiments you are talking about.

Rolly83:


My friend you deserve a very cold bottle of beer from me.This is the most informed post I have read all day...Thank u my brother!

Thank you jaree!!!

That was how they kicked out Soludo(natural Tombo) for a brewed drink(kaikai) just because the prof noticed their game and came up with a resolution that all banks will be doing their end of financial year at the same time, to fish out the weak banks who has been feeding on other stronger banks to survive. They felt he will put sand in their garri, they all blocked his re appointment even when the masses were clamouring for Soludo.

Help me ask them what his successor achieved aside victimisation, awarding contact and allowances to his babe and being booted out before the end of his tenure?

larryUG:

Bros you are right. Aig and Wigwe Used Sanusi to set up Akingbola. The point is that Tony frustrated Sanusi out of UBA. so Sanusi wanted to pay him and Jim Ovia back. Its unfortunate Cecilia was the scapegoat. As for doz access bank guys that bought over intercontinental even though they were owing him, i dont know what to say

You guys are conjuring some fictional pictures to make yourselves happy. Who is Aig and Wigwe to influence Sanusi? Were does the power configuration come from?

At the time intercontinental was sold. It had N25b clearing deposit with CBN. Over all the take over of IB plc. Afribank. Bank phb. Oceanic was done in bad faith. The shareholders of those banks lost everything.

AFONAMARO:


Kindly point out the alleged sentiments you are talking about.

the first about soludo..the guy tenure don end already. These banks, if you are a financial analyst..you will agree with me that these banks are going down already. check their bad debts and the way they give out loans, these directors live as if they own the world. Am not saying sanusi is saint. but he took the right step. I just don't agree with you when you said sanusi was on a vengeful mission and soludo was forced out

pro2010:


You guys are conjuring some fictional pictures to make yourselves happy. Who is Aig and Wigwe to influence Sanusi? Were does the power configuration come from?

Landlord nobody is painting anything. If you think you have a point please air it and educate us. That's the whole essence of this forum.

Hope you were aware Aig was a management staff in GTB before leaving to form Access bank, whereas Wigwe was the brain behind Access. Please were was Sanusi or rather, who was Sanusi during that time?

vickylincon:
the first about soludo..the guy tenure don end already. These banks, if you are a financial analyst..you will agree with me that these banks are going down already. check their bad debts and the way they give out loans, these directors live as if they own the world. Am not saying sanusi is saint. but he took the right step. I just don't agree with you when you said sanusi was on a vengeful mission and soludo was forced out

If you had read my following post's, you would have seen were I pointed out that the masses were clamouring for Soludo's re appointment whereas a certain cartel felt otherwise. Mind you, as at the time HRH emerged as the CBN governor, they were sound MD's ahead of him already. So why him?

vickylincon:
the first about soludo..the guy tenure don end already. These banks, if you are a financial analyst..you will agree with me that these banks are going down already. check their bad debts and the way they give out loans, these directors live as if they own the world. Am not saying sanusi is saint. but he took the right step. I just don't agree with you when you said sanusi was on a vengeful mission and soludo was forced out

I worked in IBPLC for about 10 years. When Sanusi was md of FBN plc. Akingbola had a case against him that was in the CBN then. Before Soludo could conclude that case, Sanusi was CBN gov and one of his mission was to remove Akingbola and the other bank chiefs. Vanguard carried that news 5 months before it happened. It was part of the northern agenda then

AFONAMARO:


If you had read my following post's, you would have seen were I pointed out that the masses were clamouring for Soludo's re appointment whereas a certain cartel felt otherwise. Mind you, as at the time HRH emerged as the CBN governor, they were sound MD's ahead of him already. So why him?

When Yar adua took over. Shortly after Soludo tenure ended. Now Saraki took Sanusi to Yar adua. Sanusi and Saraki attended king college together. And Sanusi became CBN chief after people like Mutallab(FBN chairman then) also weighed in. That was why the man Sanusi appointed as interim MD at intercontinental wrote of all Saraki loans worth billions. Akingbola is still trying to fight for justice because the man was cheated greatly

pro2010:


You guys are conjuring some fictional pictures to make yourselves happy. Who is Aig and Wigwe to influence Sanusi? Were does the power configuration come from?

When Aig and Wigwe were EDs, Sanusi was a GM at UBA. After he left UBA he joined FBN and became ED, months later he became MD and shortly after CBN governor.

aolawale025:


When Yar adua took over. Shortly after Soludo tenure ended. Now Saraki took Sanusi to Yar adua. Sanusi and Saraki attended king college together. And Sanusi became CBN chief after people like Mutallab(FBN chairman then) also weighed in. That was why the man Sanusi appointed as interim MD at intercontinental wrote of all Saraki loans worth billions. Akingbola is still trying to fight for justice because the man was cheated greatly

Another man with sharp memory.

The man they appointed for intercontinental was Saraki's boy who handle's all his financial dealings and his staff named Mahmoud Alabi. He ended up clearing all Saraki's bad loans with the bank

AFONAMARO:


Oga, try digesting my post gently, you will pick the facts as clear as 10D cenima.

Old bankers with great insight of the system could bear me witness of the happenings I posted earlier.

But you know what? That same CBN governor was not allowed to finish his tenure. KARMA!!!

That same CBN governor introduced a tenure of 10 years maximum for MD's with the single aim of kicking out those sound MD's I talked about, forgetting that they have paid their dues as some of them like Jim Ovia, Cecilia and Akingbola have paid their dues by providing both cash, resources and enebling environment to keep them flying till some cartel brought in their jealousy

You are correct. The main reasons for the crack down on those five banks then is just envy, jealousy and greed. The promoters were gaining influence and wealth and some quota system people felt left out and brought down the whole barn

aolawale025:


When Aig and Wigwe were EDs, Sanusi was a GM at UBA. After he left UBA he joined FBN and became ED, months later he became MD and shortly after CBN governor.

Now men with indebt knowledge of what I am talking of are here. Tell him

aolawale025:


When Aig and Wigwe were EDs, Sanusi was a GM at UBA. After he left UBA he joined FBN and became ED, months later he became MD and shortly after CBN governor.

Interesting details, it does not however prove your claim. Sanusi's family name is enough to open any door in Nigeria, the Aig's and Wigwes dont even enjoy the kind of influence/protection that comes with been a son of the Emirate, so his name got him covered. That aside, Oceanic bank and many other banks broke virtually every ethical rule of banking, from insider borrowing, manipulation of bank stocks to borrowing heavily from interbank lending window to offset operational cost. Say something else and I would agree with you, but Cecilia Ibru, Akingola and Atuche them were all crooks that had to go down. If you say they were not the only ones, then that makes sense.

AFONAMARO:


Landlord nobody is painting anything. If you think you have a point please air it and educate us. That's the whole essence of this forum.

Hope you were aware Aig was a management staff in GTB before leaving to form Access bank, whereas Wigwe was the brain behind Access. Please were was Sanusi or rather, who was Sanusi during that time?

Thats the point I am trying to make exactly! Sanusi is is a quintessential epitome of privilege, his ties to the Kano emirates makes the likes of Aimokuede and Wigwe just another one of the Nigerian masses relative to him. There is no way Sanusi was their stooge!

pro2010:


Interesting details, it does not however prove your claim. Sanusi's family name is enough to open any door in Nigeria, the Aig's and Wigwes dont even enjoy the kind of influence/protection that comes with been a son of the Emirate, so his name got him covered. That aside, Oceanic bank and many other banks broke virtually every ethical rule of banking, from insider borrowing, manipulation of bank stocks to borrowing heavily from interbank lending window to offset operational cost. Say something else and I would agree with you, but Cecilia Ibru, Akingola and Atuche them were all crooks that had to go down. If you say they were not the only ones, then that makes sense.

True some banks broke some rules. However that doesn't mean we cut off the nose to spite the face. I worked closely with some of big names then. Soludo had come up with a way to deal with the problem. After he left, the CBN action was overboard. To justify it. They had to crucify some people and lay out all kinds of reasons like you mentioned. But the fact is the under lining issues that were not mentioned was the biggest catalyst

pro2010:


Interesting details, it does not however prove your claim. Sanusi's family name is enough to open any door in Nigeria, the Aig's and Wigwes dont even enjoy the kind of influence/protection that comes with been a son of the Emirate, so his name got him covered. That aside, Oceanic bank and many other banks broke virtually every ethical rule of banking, from insider borrowing, manipulation of bank stocks to borrowing heavily from interbank lending window to offset operational cost. Say something else and I would agree with you, but Cecilia Ibru, Akingola and Atuche them were all crooks that had to go down. If you say they were not the only ones, then that makes sense.

"Son of the emirate" may work more in government. Because it could not help sanusi when elumelu decided he had to leave UBA. At that time the stakes Aig. Elumelu and Co had in the industry was more than Sanusi had. In banking real hard cash comes before influence.

aolawale025:


"Son of the emirate" may work more in government. Because it could not help sanusi when elumelu decided he had to leave UBA. At that time the stakes Aig. Elumelu and Co had in the industry was more than Sanusi had. In banking real hard cash comes before influence.

Wrong! In Nigeria, the strongest factor considered priotized in ANY power equation is political tires! Dont get it twisted!

aolawale025:


True some banks broke some rules. However that doesn't mean we cut off the nose to spite the face. I worked closely with some of big names then. Soludo had come up with a way to deal with the problem. After he left, the CBN action was overboard. To justify it. They had to crucify some people and lay out all kinds of reasons like you mentioned. But the fact is the under lining issues that were not mentioned was the biggest catalyst

I worked in financial services for a while myself and those bank chiefs should still be in jail! Maybe a different approach should have been taken to save the banks and reduce investors losses...but the bank chiefs should have been sent to jail forever!

pro2010:


Wrong! In Nigeria, the strongest factor considered priotized in ANY power equation is political tires! Dont get it twisted!

I wouldn't say so. As cbn chief sanusi was able deal with them. But I know the relationship Akingbola had with Sanusi when he was in FBN.

weyabcom:
amibo who ask u

Airhead zombie go and meet buhari,im nt the source of your trauma oponu.

holyfather:

Someone should tell me this is not true.

sadly, truth it is.

bejeria101:


Airhead zombie go and meet buhari,im nt the source of your trauma oponu.

chaiiiii shit swt u

bishop4life:




sadly, truth it is.

Believe it at your peril...truth ko truth Ni! Those CEO are lucky they tried a shit like that in a place like Nigeria...they would have never seen the sun again if they had tried it in the temperate region.

pro2010:


Believe it at your peril...truth ko truth Ni! Those CEO are lucky they tried a shit like that in a place like Nigeria...they would have never seen the sun again if they had tried it in the temperate region.

thank you very much. I knew they were lucky but I also knew they were witch hunted. if I knew nothing at all I knew intercontinental was sold to its debtor. That is a clear sign of witch hunt.