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larez (m)
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Are you recommending a credit system that almost ruined the US economy for adoption in Nigeria?
I am not making any recommendation, I was merely stating facts regarding commercial loans.
Besides, if you must give out ''unsecuritized'' loan, you must monitor the disbursement of such funds and ensure your interest is protected.
Commercial loans are not necessarily regarded as unsecured because the cash itself will be used to purchase equipment on construct Industries etc. There is value added as the purpose progresses. This value is a form of security.
This is similar to social banking as obtained in Islamic banking. They give you loans but get involved in how you spend the money. In this case, they share the profit with you and if there's any loss, you both bear it.
What I have described has no relevance with social Banking because it is not necessarily directed at a social program.
But in this case, loans were recklessly given out without security. And in many cases, they were fraudulently given out.
When there is an allegation of fraud, the authorities should be diligent in investigating by focusing on seeking evidence good enough to be able to get a conviction. People should not be arrested based on mere allegations or innuendos. A Police force that is run this way can be described as farce and a joke. An arrest warrant should be initiated only after careful investigations have been carried out, and there is enough proof to be able to get a conviction. Without both in place, then it could be described as an abuse of the legal system.
How do you explain a situation whereby loans were given out to fictitious companies
I would not attempt to explain anything that I do not have the facts about. However, if you are indicating an allegation of obtaining loans using fictitious information, then this will be contrary to the Law, and should be prosecuted. To prosecute this successfully, you will need to have collaborated evidence which you will use to obtain a valid arrest warrant. Inviting people for questioning does not guarantee their cooperation, and they have the right to refuse to answer any questions that could incriminate them. Once they choose to assert this right, then the Police can only rely on their investigation to obtain a valid arrest warrant. The Police does not have a right to "interrogate" as commonly used in Nigeria. The word interrogation implies an act used in wartime. A free citizen in a democracy may be requested to show up for questioning in regards to a case without any obligation to answer any question if they are not being charged. These are the issues that the Nigerian Lawyers need to be bringing up to preserve the rights of Nigerians who are always bullied with government agencies illegally.
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qblaze (m)
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Who's the white guy that accompanied her to chat with Waziri, is she doing boy toys now?
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dinggle
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She is showing us her levels  , how many politicians , bankers, ex-gov can flash a white guy when they are arrested??, she even came with her doctor, anyway, this is naija version of the "rich also cry" |
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perewesley (m)
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Why can't they just put her in prison first then interrogate her from there?
you guys just talk blindly----when is it a crime in nigeria to be a bad manager, this northern agenda thing is so very true!!!
do you know how many graduates from nigerian universities that oceanic bank employs yearly
th same oceanic dat cecilia has struggled to build over dis years,,,,,
nigerians are so blind and are very fast at critizing odas.
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otokx (m)
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Is that white man her new nanny?
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larez (m)
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Why can't they just put her in prison first then interrogate her from there?
you guys just talk blindly----when is it a crime in nigeria to be a bad manager, this northern agenda thing is so very true!!!
do you know how many graduates from nigerian universities that oceanic bank employs yearly
th same oceanic dat cecilia has struggled to build over dis years,,,,,
nigerians are so blind and are very fast at critizing odas.
I am glad that you brought this up. This country is surely showing the chaos that happens when you have stark illiterates running government and the security forces. This is surely a confirmation that many Nigerians merely buy their degrees. |
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otokx (m)
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Did the nanny buy her degree and was it CECELIA that sold it to her?
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oyb (m)
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Why can't they just put her in prison first then interrogate her from there?
you guys just talk blindly----when is it a crime in nigeria to be a bad manager, this northern agenda thing is so very true!!!
do you know how many graduates from nigerian universities that oceanic bank employs yearly
th same oceanic dat cecilia has struggled to build over dis years,,,,,
nigerians are so blind and are very fast at critizing odas.
do you know how many people's life savings she put at risk with her irresponsibility ? EFCC has no business arresting her, but this unfortunate defense of ms ibru and co because they 'built the bank with their bare hands ' is sickening.they have failed as leaders of the bank. so we should all look the other way and wait for them to declare bankruptcy. why was she silent about her non perfroming debtors when access bank and GTB were taking AP and Virgin nigeria to court? is that the hallmark of a professional ? |
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perewesley (m)
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no doubt they failed as leaders, and they made some very errondous mistakes, but the point i waz tryin to make here is dat EFCC has no business declearing her wanted!!!!
nigerian police force as we all knw is the most corrupt entity in the world
you wen go report dem go collect money from u, person wen u report wen dem go arrest dem go colect money from am----
i feel d efcc jus wants to milk some money out of these bankers,
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larez (m)
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Lol@OYB the post disappeared again. Long winded huh? Check it out in my profile, or release it to show up.  |
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Crude Oil (m)
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Nigerians and mob rule. Its now a crime to be an entrepreneur. wonders shall never end.
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qblaze (m)
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Where is Cecilia's trademark Oceanic Bank scarf?
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oyb (m)
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^^^^^ she's prolly returned it to her debtor nanny so the woman can recycle it to pay off the loan weird eh i lend myself money to buy goods for myself - the s-t hits the fan so i have to foreclose on myself to pay back to myself this proxy buiness get as ebe  |
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dinggle
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She probably asked her nanny to follow her so that the nanny will take her place during persecution, kai!, rich people too fear death!,
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otokx (m)
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She has to fulfill all the bail conditions before being released.
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MUZBO (m)
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no doubt they failed as leaders, and they made some very errondous mistakes, but the point i waz tryin to make here is dat EFCC has no business declearing her wanted!!!!
nigerian police force as we all knw is the most corrupt entity in the world
you wen go report dem go collect money from u, person wen u report wen dem go arrest dem go colect money from am----
i feel d efcc jus wants to milk some money out of these bankers,
Whats this one saying? So because the police is corrupt they shouldn't do their job? If they announce today that the police down tools, I'm sure you won't be able to attend that your Oceanic bank job for fear of armed robbers coming to rob whats left of the bank. Make we hear word jor! |
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otokx (m)
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The way some people are defending this woman is quite discouraging and disheartening.
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larez (m)
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The way some people are defending this woman is quite discouraging and disheartening.
People are not necessarily defending her. They are mainly trying to protect the constitutional rights of every Nigerian from abuse by Police agencies which is great for the country. Due process and rule of law should never be abandoned. If Cecilia is guilty, she should be punished. However, it takes a court to scrutinize the information to pronounce her guilty. The Police cannot be prosecutor, judge and hangman. We should be wary of Nigeria becoming a Police State with the erosion of the civil rights of it's citizens. |
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otokx (m)
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Am beginning to wish that those banks should simply have been allowed to collapse; maybe then all these people defending CECILIA would have known the real consequence of such gangsterism.
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nelojay
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what is going on with my money in oceanic bank.pls sombody help me ooooo
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sherry lo
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@Becomerich you go kill person for NL before you relax oh,what is your problem with Benin?
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call4shola (m)
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The white guy is her son in-law, pls lets be watchful of wat we say on NL, she is innocent until proven odawise, This is just a trying time for her, she'll have cause to smile again.
Naija we hail thee,
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Rooneyboy (m)
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D whole thing is just becoming very boring .D press should give us another gist. A far as i m concerned,EFCC just want to make some noise.
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oyb (m)
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i just realised something - where is her husband in these trying times? shouldn't the good doctor's husband be beside her - i mean come on hillary stood by bill even when everyone knew he was a cheating bastich - na wa o  |
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spikedcylinder
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Her husband is sick na. He's been sick for a long time.
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Bensen
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I hope you all know Steve Job CEO (Apple), he built Apple with "his hands" also and was sacked when the board saw at a point he was incapable of running it, Although he later came back to build Apple to what it is now (Story for my fellow geeks). The point here is when you start having shareholders and people investing into your business, it is no longer yours and you cannot be the "absolute power" over it. It is rather sentimental for us to think she built it so she should be spared, it is no longer hers. It is for everybody we have put their money into it including retirement funds, education funds for kids, last one thousand naira the list goes on.
I wish her well but Justice must be served,
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Ex Inferis (m)
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sooo, from what i see here nigerians prefer corrupt bankers to be treated leniently while investors lose their investments on account of the shoddy and shady dealings of said bankers, abi?
na wa o! i feel pity for una! while the ruling class is gluttonly devouriang the so-called national cake and do so only because they wield the instruments of power, we should equally sit and watch as the private sectors eats away at the private cake?
do you people honestly believe the outrageous profits these silly banks post everyday while operating in a moribund national economy in the face of a world wide financial crisis? what sector is performing to generate 60billion net profit for one bank in just one quarter?
if what the bankers did isnt criminal, its certainly unethical. they live large, spend recklessly like middle eastern royals, and loan money to themselves and their cronies without due process, and you bunch of retards find all that ok? no wonder the ruling class is butt-fcuking you all. your uninformed complacency and bigotism is remarkable.
why did sanusi not wait until a full audit of all the banks before taking action, why this five? BECAUSE COLLECTIVELY THEY ACCOUNT FOR 40% OF THE TOTAL NON-PERFORMING DEBT OF THE ENTIRE BANKING INDUSTRY!!
these five banks stand the risk of dragging the entire industry to ruin, which means they are the most reckless, criminal and unhealthy of the lot. their capital base was dangerously eroded through sheer fraud, and logic dictates if you want to fix problems, start with the bigger ones. why wait until the rot eats the entire structure? if you had cancer, for the idiot using medical metaphors, would you rather wait for a full physical or would you immediately go in for chemotherapy first and stop the spread?
idiots! idiots! idiots!
you think all all those trillions of naira in he hands of the likes of the Jimohs and Otedolas and Chanchangis is all paper money with no owners? NO! this is real money with real owners, and i dare say they are damn glad someone is trying to recover their wealth.
me, i have some deposits and a few shares in these banks. im glad someone is looking after my meager wealth.
that son of a bitch soludo knew of the rot and aided in festering it but you morons celebrated his obvious incompetence. now that a northener, your pet hate, is trying to put sanity back into the system and prevent system collapse, you bigots are raising hell and bandying asinine conspiracy theories like intoxicated apes.
admit it, your grouse is because sanusi is a northerner.
with this level of idiocy, you nigerians really deserve your leaders AND your bankers.
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Rebarobyn
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pls whats the update on this story now, have the debtors paid, how many of them are left? are they charging the bank executives to court? what is the next line of action? they are beginning to go cold on us now, we need closure on this story so we can be assured that EFCC/CBN were not just trying to settle some crazy scores with these people and our moneys are now in good hands  |
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Kayflexy1 (f)
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[b][/b]EVRYBODY SHUT UP!
GOD IS TALKING 2 ME,
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