thesicilian:
I remember when Soludo increased it back then from just 2bn to 25bn, really solidified the banking sector. We're still enjoying the dividends till date

Lovemeharder:
But that's not our problem for now.

Blaze14k:


Back then Nigeria made so much gain buh government refused to reflect it on our exchange rate. It could have been alot more better. I think Obasanjo has the best administration so far

thesicilian:
I remember when Soludo increased it back then from just 2bn to 25bn, really solidified the banking sector. We're still enjoying the dividends till date

Sirtee19:
It is long overdue. No Nigerian banks is among the 10 richest bank in Africa according to Bloomberg 2023 survey. The leading banks are from SA. The banks with the least capital base has $28b and the largest has $128b. Out of the 10, SA has 5,Morocco and Egypt has 2 each while Algeria has one. Nigeria banks are "big for nothing" in Africa.

PedoBear:
Time to remove my money from fraudulent banking instructions and keep it in cash at my house

thesicilian:
I remember when Soludo increased it back then from just 2bn to 25bn, really solidified the banking sector. We're still enjoying the dividends till date

happney65:


Thank you someone is saying what I have been looking for. Obasanjo had the best administration so far. The effects of his banking recapatisation is still reverberating throughout the length and breath of Nigeria.

Took power at a time Nigeria was at its lowest of the lowest. I wonder what these wereys would have said if they were the ones that took power in 1999.

The only disadvantage is that some bankers might lose their jobs due to merging of banks. The same as it happened when Obasanjo/Solido started it

freemi:
I wish I can understand how it benefited me

Blaze14k:


Who are you referring to as werey

Blaze14k:


Who are you referring to as werey

omoadeleye:



Illiterate

kaybams1:


You may be the illiterate here. It’s not a priority. Besides, the Banking sector haven’t shown any sign of vulnerabilities in recent times to warrant such plan. Mopping liquidity should be backed by a certain reason - inflation will be the closest guess. However, it’s common knowledge that our inflation is an imported one. Basically tied to exchange rate fluctuations as a result of the inefficient market. So what’s the whole point of increasing capital base? How does that directly affect monetary policy goals in the short run. It doesn’t make any remote sense. The obvious suspicion will be that they want to politicize the mergers and acquisitions that’ll follow suit from that policy. It’s as simple as that.

OlujobaSamuel:

Intercontinental, Oceanic, Afribank, PHB, Skye, of recent Polaris(New Skye), Union, First Bank, etc are having issues.
You enter so many banking halls and you find 2people manning a space created for 6.
FYI, some banks have even recapitalized themselves before now, strong capitalization means growth, as it spurs finance support to real sector of the economy.

kaybams1:


Strong Capitalization without a cogent reason is counterproductive cos it stifles competition and growth. Oceanic, PHB and the likes had to be recapitalized then based on strong financial indicators which showed that they were already insolvent at the time. The current system is different with AMCON. It’s a rare thing to see such a situation cos of strict regulations. Understaffing isn’t a new thing. Every sector witnesses this and it’s not a reason to assume a Bank is distressed. The FUGAZ are even more notorious for this and you can’t say they’re distressed. Hard facts should drive decision making not textbook jargons. Governance isn’t by blowing empty grammar to cover political plots.

Smartguyboy:


Banks can’t close and run with your money like before 1999

OlujobaSamuel:

Intercontinental, Oceanic, Afribank, PHB, Skye, of recent Polaris(New Skye), Union, First Bank, etc are having issues.
You enter so many banking halls and you find 2people manning a space created for 6.
FYI, some banks have even recapitalized themselves before now, strong capitalization means growth, as it spurs finance support to real sector of the economy.

OlujobaSamuel:

Intercontinental, Oceanic, Afribank, PHB, Skye, of recent Polaris(New Skye), Union, First Bank, etc are having issues.
You enter so many banking halls and you find 2people manning a space created for 6.
FYI, some banks have even recapitalized themselves before now, strong capitalization means growth, as it spurs finance support to real sector of the economy.

Annahh:
Under staffing is as a result of high staff turnover in the banking industry which is caused by japa.

francisobiabo:
Could you tell us some more.... How many of those banks have recapitalised etc....
Thank you

OlujobaSamuel:

Japa didn't start today, the current trend of Japa started about 4yrs ago, meaning there is opportunity to address that if it's truly Japa that is the cause.
Btw, most of those exposed to Japa within the banking system are core staff not the contract, remember that banks make use of mostly lower graders (ND, NCE, HND & BSc) as their counter officers, which are not really the class that seeks to Japa