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Nairaland Forum / Nairaland / General / Business / Bank Directors With 12 Years Experience Must Quit – Cbn (2386 Views)
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Bank Directors With 12 Years Experience Must Quit – Cbn by Freestyl(m): 10:50am On Mar 20, 2010 |
There are strong indications that the Central Bank of Nigeria has directed non-executive directors that have spent 12 years on the boards of their banks to quit by December 2010. http://www.ngex.com/cgi-bin/frame/frameit2.plx?link=%22http://www.punchng.com%22 |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by netotse(m): 12:03pm On Mar 20, 2010 |
at first glance this makes sense. . . |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by martinosi: 12:54pm On Mar 20, 2010 |
netotse: Nothing seems as it appears, When CBN starts acting like Over-Lord or Banks and starts issuing all kinds of rules, you have to start thinking what is going on, The is a wider picture here and its bigger than just issuing some rules for Banks, The 3 Pillars to control a society is - 1 - Food 2- Energy 3 - Finance With food you control People with energy ie oil, gas etc you control the Economy with Finance you control every form of Transaction in a nation with ends in Domination, Lets think deeper, i gonna do some more research in what happening in the banking sector in Nigeria |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by Kx: 12:59pm On Mar 20, 2010 |
we keep clamouring for foreign investments but on a daily basis,the sanusi led cbn keeps churning out policy frameworks that will keep investors at bay. policy instability is not good for investment. what ever happened to the place of experience in board appointment. is this banking sector not being simply over regulated by this spate of policy redesign on predictable basis? |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by hackney(m): 1:11pm On Mar 20, 2010 |
^^^^ well said. A policy whereby experience counts against an individual is very flawed. it's fair to regulate a director's monopoly over bank issues but having experience count against them is not a good idea. |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by slap1(m): 1:22pm On Mar 20, 2010 |
Good. The longer they stay, the more they steal. Let them get some rest and be consulted if need be. |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by DisGuy: 3:11pm On Mar 20, 2010 |
Kx: sometimes sentiment gets the better parts of our thinking, I guess Sanusi crept into the CBN disguised as Soludo on the 31 of march 2006 just to insert this code of practise hackney: they can use their experience somewhere else including another bank, I think people with 12years experience should even be turfed out of the banking industry altogether, they should use their 'experience' if its worth anything to start their own business employ numerous graduates on the street lets see if they can hack it |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by Gunnaz007: 3:43pm On Mar 20, 2010 |
slap1: ^^ One knows he/she has 12 years to steal, so what stops him/her from stealing within these period? (eg: Councillors, LG Chairs, Legistlatures, Governors, Presidents, etc) Whether a position is tenured or not people will still poke their hands into the treasury! |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by splashbaby(m): 4:58pm On Mar 20, 2010 |
slap1:hmmmm |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by Kx: 5:13pm On Mar 20, 2010 |
Dis Guy:we all know that this policy was formulated by soludo but perhaps on a second thought,he saw the need not to implement. it just seem there is a rush to implement some and reverse the rest completely. this is perhaps the first time experience would be a disadvantage in corporate mgt. |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by Nobody: 8:57pm On Mar 20, 2010 |
Wow see brain drain. Hope the idiot knows once they quit, there will be letters flying in from foreign nations. Nigerian bankers are world class all over. This Sanusi guy doesn't know shit. They should send him off immediately. Nigerian bankers have the top quality especially the ones he is calling to quit cause they obviously didn't start when they use women to get customers. So he is calling for a disaster. And I don't think he has any right over private banks. This is madness. He can't call for people to quit their jobs. 12 years then quit? |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by eros(m): 10:52pm On Mar 20, 2010 |
Gunnaz007: Thats the "Nigerian Dream" right there brother. |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by 2gd: 11:18pm On Mar 20, 2010 |
There are a lot of things happening in Nigeria that I believe are not what they seem to be on the surface, There just may be bigger pic than the masses can see, could all this be a master plan for 'something ' martinosi: |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by tonio2: 2:29am On Mar 21, 2010 |
I really dont figure how sacking someone with 12 years of experiance has anything to do with managing the economy, time will tell! |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by Kilode1: 3:16am On Mar 21, 2010 |
Sounds like another fire brigade, brain dead policy. Nigeria; Ignoring foundational problems since 1960. |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by dancewith: 1:36pm On Mar 21, 2010 |
Another nail in the coffin of our commatose financial sector |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by Nobody: 3:06pm On Mar 21, 2010 |
I wonder why we keep talking from both sides of our mouths! Just last year all Perm Secs who had served up to eight years were retired to make room for the younger crop of civil servants. Now the same is being implemented in the banking sector and were crying foul. Is it out of place to look forward to a new younger crop of bankers with fresh ideas taking their place? We keep complaining about stagnation in the system but when there is action to fix the situation we start shouting for the status quo to be maintained! WTF? |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by Nobody: 3:17pm On Mar 21, 2010 |
marissa: You don't just replace them like that. This isn't some ministry or some house of rep. Experience is really needed in this field. You have to mix them up and not just fire them like that. If you are good at what you are doing, why fix something not broken? That is a bad policy abeg!!!. Young ones should be given a chance but it doesn't mean the experienced ones should be sacked. |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by netotse(m): 3:24pm On Mar 21, 2010 |
9jaganja:it wont be all the directors going at once now. . .plus they're not prevented from going to other banks. Plus there's nothing stopping them from applying their experience in other sectors of the economy! |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by tofeenab(m): 3:44pm On Mar 21, 2010 |
I am really alarmed at the kind of opinions people tend to propergate. What do they mean by sacking experienced individuals. Like someone said they all in the board will not go at once as not all of them will be 12Yrs when the time to exit comes! Again they are not prevented to go to other boards to be made Board members. Please we should not trivialise this issues as it was not sanusi that made the policy in 2006. Why are we now saying that it is another sanusi policy to collaples the economy and sell it to foreigners! GTB has served notice without being prompted by CBN. All those Banks that have not implemented the policy are doing it because of selfish reasons. They dont want to break the existing Carbal! |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by Nobody: 3:48pm On Mar 21, 2010 |
9jaganja: Any Bank that has functioned for 12 years without a succession plan should have itself to blame! What if Mr. Experience died?! And what do you mean this isn't some ministry or house of rep? Like we dont know what role Banks have played in perpetuating the corruption that destroyed the first two? Dont forget that corrption is a financial game. No politician or civil servant moves cash without the help of our dear banks. In fact, 9 times out of 10 it is bankers who advise corrupt politicians and civil servants on how to discreetly handle their loot. How many times have bankers coerced civil servants for public sector fund deposits by promising the civil servant a 'cut'? Abeg dont let me digress into so on and so forth. All these crooked financial games being played by 'Ministries and house of reps' is Bankers 101! So please dont try to denigrate one against the other. They are all different parts of the same coin! Back to the topic: Let the Real Mccoys step up and keep the ball rolling. Did I hear somebody say 'Yes I can'? |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by member479760: 7:32pm On Mar 21, 2010 |
Nigerians - what are we good in? Technology - zero, Finance - zero, civil - zero, Agric - zero etc. infact not only Nigeria but all black countries. |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by smooooooth: 8:07am On Mar 22, 2010 |
Good, CBN, tell them when they get to the top, they need to leave, so the young ones can grow. |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by candylips(m): 10:41am On Mar 22, 2010 |
very good move |
Re: Bank Directors With 12 Years Experience Must Quit – Cbn by togetyourexlove: 10:09am On Mar 24, 2010 |
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