Atiwaye:
What his occupation before he formed Stabic bank.

techWriter1:
What his occupier before he formed Stabic banker

Childofaking:
Whose fathers are those paying 3% to depositors and giving it out as loans at 26% - 30%
cheating depositors and retarding the growth of our manufacturing sectors due to lack of finance.
whose fathers are those, Atedo Peterside ? who are those fathers ?

bankylan:
Start your own bank, run diesel everyday, get your own security personnel, pay heavy tax to the government, employ thousands of people, have a high cost of funds as most depositors are short term depositors, bear the crippling overhead costs in Nigeria and then offer your own loan at 3%. You can even give at zero percent and tell your staff to earn 30,000 Naira per month.

olisaEze:
So what! Even Adolf Hitler still had someone that loved him in all his evil & cruelty. Goan abuse Abacha's memory in front of his son and get the living sh*t beaten outta ur @ss!

9jaRealist:


His dad was an OPHTHALMOLOGIST who NEVER worked for or in government…
Atedo worked for NAL Merchant Bank, straight after university, for 10 years before starting IBTC.

Note that he started IBTC (later merged with SA’s Stanbic) at the age of 32 or 33 years….
In an era Nigerian YOUTH applied themselves, instead of doing Yahoo (or pointing fingers on NL).
>

Atiwaye:
What his occupation before he formed Stabic bank.

Atiwaye:
What his occupation before he formed Stabic bank.

redsun:


That why Hitler never dared to have children. However, he was medically impotent, he couldn't have had,even if he had wanted. Nobody dares to bear the name Hitler till date, not any mad member of the neonazis and all the far right groups across the globe.

Abacha's children will always be seen as villain's children by rational Nigerian who happen to be very few.

gasparpisciotta:
His bank has also benefited in one way or another.

Safe keeping, deposits, other transactions!!!!

9jaRealist:



Bless you! I was just about to enlighten him on what it costs to run a bank (or any business) in Nigeria…
Furthermore, people don’t seem to realize that it is OTHER PEOPLE’S MONEY that banks lend in a nation of serial defaulters/crooks.
>

Asour:


Na. Not really.

Actually it looks more likely that people like him would be richer if the system was better.

Atiwaye:
What his occupation before he formed Stabic bank.

Atiwaye:
What his occupation before he formed Stabic bank.

Childofaking:
So how do you think Nigeria can achieve a single digit lending rate ?
Deposit rates were reduced and lending rates are still high up there.

The problem is that the banks are not lending, they prefer to invest their money in Government securities and interbank placements and not lending to the real sector. If the high overheads is the reason for high lending rates how come banks dont give money to other banks at the lending rate ?

Tell me how we can achieve a single digit lending rate?

ivolt:

Are you going to take care of the children of such fathers?
It is the duty of the law to take care of criminals and not criminals children.

juman:
@bolded.
Some people have different view on abacha.
Abacha saved a lot money when he led the country despite the oil price was very low.
PTF projects were abacha projects.

Abacha was a typical nigerian general corrupt and power greedy.
IBB, obasanjo etc were like him.

Atiwaye:
What his occupation before he formed Stabic bank.

inoki247:
lol they're loving father's to dere kids oh cos na d loot dem dey use send dem go UK to go school nd provide for dem so u expect dem not to appreciate dere father after doing all this for dem....

Kondomatic:
Very irresponsible thing to say

9jaRealist:


Why not? If they can make sovereign-GUARANTEED double-digit returns with minimal or no risk?
What do you have against RATIONAL economic behavior or investment - especially since they’re looking after OTHER PEOPLE’S MONEY?!

If you want to reduce interest rates, reduce the COST of doing business (including the cost of doing business in the sector). Not only do banks (and most businesses) have to be their own local government and public utility providers, but both a reliable credit-check and verification system (on the front end), as well as an efficient judicial system that enables a fast and dependable realization of collateral (on the back-end) is sorely lacking in Nigeria. Interest rates are the primary means for the banks to cover the COST of doing business.
>

IamHeWrites:
Founder of Stanbic IBTC Bank Atedo Peterside on Sunday, amid numerous Father’s Day messages posted to social media, also called attention to fathers who loot the nation’s commonwealth, Igbere TV reports.

While giving his comments, Mr Peterside shared a post on Twitter side-by-side which sought to know which fathers have been doing more harm than good to the society.

The banker’s post read,

He dropped the following comments concerning the post,

https://twitter.com/AtedoPeterside/status/1406618860095213571?s=19

Peterside’s comments on infringing on “our freedom and fundamental human rights” come amid the suspension of Twitter by Nigerian authorities.

While it is not clear when the suspension of Twitter’s operations in Nigeria would be lifted, the minister of information and culture Lai Mohammed has said top executives of the micro-blogging site have not shown seriousness in engaging the Federal Government on the matter.

Atiwaye:
What his occupation before he formed Stabic bank.

Childofaking:
The primary purpose of banks is to be a middle man between depositors and Borrowers. But our banks are not doing that. Taking money from depositor and fixing it among themselves in interbank will not make our economy to grow, it is a short cut to making money. The economy will only grow when borrowing is easy for the real sector, when people can easily get the bank get money to finance their businesses at affordable rates. The banks are only lazy and playing safe.
That is why our banks make heavy profits and our manufacturing industiries make losses. The few that get overdrafts and loans from banks and dying under the weight of those finances with heavy interest. No company can make profit paying interest at 26%.

Credobee:
This man that supervised the privatisation process of the power sector and ended up handing out NEPA to inept and incompetent entities.
He should not play Saint.

9jaRealist:


If banks cannot cover their COSTS, they will go out of business…
And not be able to play the financial intermediary role vital to any economy.

Instead of blaming the banks (who are looking after OTHER PEOPLE’S MONEY)…
Address the fundamental issues bedeviling the economy and all businesses (including banks).

This is sadly a recurring problem in Nigeria and among Nigerians…
Instead of addressing the disease, most Nigerians are fixated on the SYMPTOMS!
>

Childofaking:
My friend, you know as well as i do that Nigerian banks are not merely covering their costs. Non of the top 5 or 6 banks made less than N150 billion in profit before taxes in the last 3 years. You call that covering of cost. All that are monies you deprived depositors in interest and other ambigious charges , and then you are not financing where you should finance.