CBN Releases Financials Of Seven Years Amid Investigation - Business (2)

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CBN Releases Financials Of Seven Years Amid Investigation - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN Releases Financials Of Seven Years Amid Investigation (15480 Views)

CBN Releases Cash, Orders Banks To Operate On Saturdays And Sundays / CBN Releases $265 Million To Airlines Over Repatriation Challenges / CBN Releases Guidelines For Enaira (2) (3) (4)

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Re: CBN Releases Financials Of Seven Years Amid Investigation by Kaybaba5(m): 12:45pm On Aug 11, 2023

Wayo government

Re: CBN Releases Financials Of Seven Years Amid Investigation by SmartPolician: 12:46pm On Aug 11, 2023

Grit2943:
Profit after tax for some banks in Nigeria for the year ended 2022

N129. 4bn- First Bank
NGN223.9bn - Zenith
N170.3bn- UBA
N169.2bn- GTB
N152. 20bn- Access

It is shameful that CBN is declaring N103.8bn as PAT

Why are you comparing the CBN with Commercial Banks?

I think it's an unfair comparison.

1 Like

Re: CBN Releases Financials Of Seven Years Amid Investigation by overseasnbeyond: 12:47pm On Aug 11, 2023

You be God

MichaelSokoto:
if u post any advert here, I will ban u 10 yrs!

Jez try am!

Re: CBN Releases Financials Of Seven Years Amid Investigation by pharmagba: 12:47pm On Aug 11, 2023

incandescentena:
Weak CBN.

Naira is 919 to the Dollar all time highest as at this moment under their worthless watch.

Emefiele should rot in dss or kuje

I don't see it as Emefiele or not.
The issue is institutional.
CBN should as a matter of priority ensure all foreign currency enters into the system. The huge foreign currency in the private vaults of bereau de change operators should come out first., then other Nigerian and be tough on the banks especially in regards adherence to monetary policy concerning foreign exchange.
CBN should not be a collaborator to defrauding the Nigeria

2 Likes

Re: CBN Releases Financials Of Seven Years Amid Investigation by Creamypussy(f): 12:48pm On Aug 11, 2023

Fxck CBN, can't be trusted.

Re: CBN Releases Financials Of Seven Years Amid Investigation by Grit2943(m): 12:49pm On Aug 11, 2023

SmartPolician:

Why are you comparing the CBN with Commercial Banks?

I think it's an unfair comparison.

I know one of the reasons why CBN PAT is low is due to a huge part of their income been expended on expenditures.

Re: CBN Releases Financials Of Seven Years Amid Investigation by PIPSMARSHALL: 12:49pm On Aug 11, 2023

BUHARI was the problem. Like the man just went blind on us. Now we can see how these funds are used. Forget corruption now, why is Nigeria borrowing. CBN explain

Re: CBN Releases Financials Of Seven Years Amid Investigation by BoldBrainz(m): 12:52pm On Aug 11, 2023

Grit2943:
Profit after tax for some banks in Nigeria for the year ended 2022

N129. 4bn- First Bank
NGN223.9bn - Zenith
N170.3bn- UBA
N169.2bn- GTB
N152. 20bn- Access

It is shameful that CBN is declaring N103.8bn as PAT

The abysmal PAT is not even the problem at this point.

It is the fact the CBN is owing way more than the profits it declared. Simply put, the apex bank has a deficit balance sheet, if those debts should be settled outright. Just like NNPC in 2022, the CBN equally conducted useless businesses that fetched no profits whatsoever, yet succeeded in incurring debts..

Re: CBN Releases Financials Of Seven Years Amid Investigation by BoldBrainz(m): 12:54pm On Aug 11, 2023

Grit2943:
I know one of the reasons why CBN PAT is low is due to a huge part of their income been expended on expenditures.

CBN's overhead expenditures is one of the highest amongst institutions in this country. Yet the same bank woke up and saw the need to waste billions of naira on a useless "currency recolouration" policy, in the same year it was running on deficits.

Why..

Re: CBN Releases Financials Of Seven Years Amid Investigation by frog12: 12:58pm On Aug 11, 2023

owing JPMorgan 7 billions US Dollars.... all under Emefiele shocked

so this man dey borrow even more money than Buhari. this is gross violation of so many laws and he never revealed anything !!!

Re: CBN Releases Financials Of Seven Years Amid Investigation by GeneralDae: 1:02pm On Aug 11, 2023

frog12:
owing JPMorgan 7 billions US Dollars.... all under Emefiele

so this man dey borrow even more money than Buhari. this is gross violation of so many laws and he never revealed anything !!!

Yet people expect us to keep defending the naira at 460 even with all these.

Re: CBN Releases Financials Of Seven Years Amid Investigation by ajimo54(m): 1:02pm On Aug 11, 2023

Grit2943:
Profit after tax for some banks in Nigeria for the year ended 2022

N129. 4bn- First Bank
NGN223.9bn - Zenith
N170.3bn- UBA
N169.2bn- GTB
N152. 20bn- Access

It is shameful that CBN is declaring N103.8bn as PAT

CBN na commercial bank?

Re: CBN Releases Financials Of Seven Years Amid Investigation by frog12: 1:03pm On Aug 11, 2023

e be like say, this man don sell CBN to foreigners !

GeneralDae:

Yet people expect us to keep defending the naira at 460 even with all these.

Re: CBN Releases Financials Of Seven Years Amid Investigation by Grit2943(m): 1:04pm On Aug 11, 2023

BoldBrainz:

The abysmal PAT is not even the problem at this point.

It is the fact the CBN is owing way more than the profits it declared. Simply put, the apex bank has a deficit balance sheet, if those debts should be settled outright. Just like NNPC in 2022, the CBN equally conducted useless businesses that fetched no profits whatsoever, yet succeeded in incurring debts.. !

You are very right . This situation is very worrisome.

Re: CBN Releases Financials Of Seven Years Amid Investigation by MichaelSokoto(m): 1:04pm On Aug 11, 2023

overseasnbeyond:
You be God

Baba paste advert & c somtin!
cool

Re: CBN Releases Financials Of Seven Years Amid Investigation by Ecardz: 1:04pm On Aug 11, 2023

We are available here

Re: CBN Releases Financials Of Seven Years Amid Investigation by Grit2943(m): 1:04pm On Aug 11, 2023

BoldBrainz:

CBN's overhead expenditures is one of the highest amongst institutions in this country. Yet the same bank woke up and saw the need to waste billions of naira on a useless "currency recolouration" policy, in the same year it was running on deficits.

Why.. ??

Huge misplacement of priority by CBN.
Unnecessary expenditure

Re: CBN Releases Financials Of Seven Years Amid Investigation by Ecardz: 1:05pm On Aug 11, 2023

Nigeria is no where to be found

1 Like

Re: CBN Releases Financials Of Seven Years Amid Investigation by Grit2943(m): 1:06pm On Aug 11, 2023

ajimo54:

CBN na commercial bank?

One of the reasons why CBN's PAT is low is due to a huge part of their income been expended on expenditures.

Re: CBN Releases Financials Of Seven Years Amid Investigation by frog12: 1:06pm On Aug 11, 2023

when you get morons as Legislators, what do you expect? even CBN go borrow pass Buhari grin

Re: CBN Releases Financials Of Seven Years Amid Investigation by frog12: 1:07pm On Aug 11, 2023

e be like say, Emefiele don run the CBN into big waste factory. big mismanagement shocked

Grit2943:
Huge misplacement of priority by CBN.
Unnecessary expenditure

Re: CBN Releases Financials Of Seven Years Amid Investigation by Abagworo(m): 1:09pm On Aug 11, 2023

CBN is under the control of Presidency so it's of no use pretending about what happened. Buhari tried with regards to challenges faced by the country from deliberate cutting of oil pipelines on his assumption of office to expensive war on terrorism to global fall in oil prices and then COVID-19 . Nigeria tried in surviving all those but presently we face less of those challenges and yet suffering has doubled in 3 months.

Re: CBN Releases Financials Of Seven Years Amid Investigation by Validated: 1:12pm On Aug 11, 2023

incandescentena:
Weak CBN.

Naira is 919 to the Dollar all time highest as at this moment under their worthless watch.

Emefiele should rot in dss or kuje

God bless Emefiele for holding the economy from collapse since 2016 Since Tinubu appointed his town people 2 months ago, the economy is in tatters

1 Like

Re: CBN Releases Financials Of Seven Years Amid Investigation by lexy2014: 1:17pm On Aug 11, 2023

Grit2943:
Profit after tax for some banks in Nigeria for the year ended 2022

N129. 4bn- First Bank
NGN223.9bn - Zenith
N170.3bn- UBA
N169.2bn- GTB
N152. 20bn- Access

It is shameful that CBN is declaring N103.8bn as PAT

How much tax should CBN declare as profit and why should it declare more profit than commercial banks?

Re: CBN Releases Financials Of Seven Years Amid Investigation by frog12: 1:19pm On Aug 11, 2023

because of people like you these leader fool everyone.
Emefiele was seriously mismanaging the CBN

Validated:

God bless Emefiele for holding the economy from collapse since 2016 Since Tinubu appointed his town people 2 months ago, the economy is in tatters

1 Like

Re: CBN Releases Financials Of Seven Years Amid Investigation by BreconHills(m): 1:34pm On Aug 11, 2023

Grit2943:
Profit after tax for some banks in Nigeria for the year ended 2022

N129. 4bn- First Bank
NGN223.9bn - Zenith
N170.3bn- UBA
N169.2bn- GTB
N152. 20bn- Access

It is shameful that CBN is declaring N103.8bn as PAT

What's shameful about it? Does the CBN pay dividends to shareholders?

Re: CBN Releases Financials Of Seven Years Amid Investigation by wirinet(m): 1:38pm On Aug 11, 2023

GeneralDae:

Yet people expect us to keep defending the naira at 460 even with all these.

To me the problem is not defending the Naira, after all China and Japan still defend their currency. The elephant in the room everyone decide to be blind to is corruption. Its corruption thar made CBN not to declare its financial report for 8 years, its corruption that have made NNPC not to have declared their financial report till date. It was corruption that destroyed the subsidy regime. I have never understood the subsidy regime though. NNPC ,who was the only importer of petrol says it does crude swap deals with partners, but at the same time they say they pay subsidy. So who were they paying subsidies to?

Instead of Tinubu to kill the elephant in the room, he decided to go after the ants because they are a softer target.

1 Like

Re: CBN Releases Financials Of Seven Years Amid Investigation by otipoju(m): 1:41pm On Aug 11, 2023

Frizz001:
Upeh! Let us see what comes out of all this initial gra gra.
The scapegoat of course will be the unfortunate, yet greedy appointee that refused to be sensible and cover his arse professionally! The dirty president called Buhari that appointed him and is known for his criminal, taciturn opacity will of course not be questioned! Integrity my phat arse!

It is good that we witnessed that man. The hype about his so called integrity was a huge delusion.

The man who will always assure us that he was never aware of anything.

Re: CBN Releases Financials Of Seven Years Amid Investigation by teepain: 1:46pm On Aug 11, 2023

Eriokanmi:
Emefiele isn't there anymore. Dollar was 720 before he was picked. That I & E window fx policy introduced by tinubu caused the current economic woes. He was warned against it by same economists but he refused to listen. GBP is going to 1,200 naira now...just one pound. Benin Republic Cefa, which used to be 10,000 cefa to 1,000 naira has now overtaken naira in value.

I don't know what else to call this if not madness.

Which reputable economists warned him against floating the Naira? Please give me links I will like to read their perspectives!

Re: CBN Releases Financials Of Seven Years Amid Investigation by Steinmann: 1:47pm On Aug 11, 2023

#DAY 75 (STOLEN MANDATE)
PRAYER: Lord give the election tribunal the fortitude to uphold the truth.
Give them the moral backbone to resist any coercion or inducement.
Lord above all give them the wisdom to pronouns a just decision no matter whose ox is gored.
Amen

1 Like

Re: CBN Releases Financials Of Seven Years Amid Investigation by Abifarin16: 2:01pm On Aug 11, 2023

Grit2943:
Profit after tax for some banks in Nigeria for the year ended 2022

N129. 4bn- First Bank
NGN223.9bn - Zenith
N170.3bn- UBA
N169.2bn- GTB
N152. 20bn- Access

It is shameful that CBN is declaring N103.8bn as PAT

While they have debts running into trillions. CBN is a failed business, they should Wind Up If possible.

Re: CBN Releases Financials Of Seven Years Amid Investigation by frog12: 2:06pm On Aug 11, 2023

this is troubling. even this report tells me Emefiele was seriously mismanaging the place

MT:
CBN should be put under intense watch.

The kind of corruption going on from recruitment (man knows man), to operations is frightening.

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