Bank Phb, Spring Bank And Etb Mds & Eds Axed By Cbn - New Mds Appointed!

CBN has officially axed the following bank MDs and replaced the management of the banks as follows -

Bank PHB

F. Atuche replaced by C. Chulwuma

Equitorial Trust Bank

Orachukwu replaced by G. Folayan

Spring bank plc

Charles Ojo replaced by S. Ayodele


about N200bn will be injected in the affected banks.

finally.

sansusi is definitely in Gangsta mode

Kai, see Sanitization!!!

Mr. Sanusi, FYI ---> Your replacement MDs will turn out to be worse than the people you have just sacked. 2 years out, the corruption and mismanagement will still be there, i guarantee you.

We like deceiving ourselves in Nigeria too much!!!!

Wat do u exactly mean by enuff of d one man bank,in as much as i dnt gv a hoot abt all dat Sanusi is doin,u can still nt tk awae d fact dt some Tycoons like Adenuga etc riskd a great deal both financially and wit deir biz acumens 2 set up dis financial institutions.Dnt u fink dat honor shld b gvin 2 whom it is due n dat wat is 4 ceasar shld b due 2 ceasar.

I cant rily sae biased or anyfin of such as i dnt knw wat is goin on wit all dis politickin in d air,bt i can sae dis 4 certain dat dey r clearly dissuadin hardworkin and ambitous young pple 4rm tryin to drim and act big.Wat is d essence, wen afta settin up sth,some pesin somwhere will axe u out n gv 2 anoda pesin.All ua toilin in vain, *****so sad*****

@ Kwejay, what do you mean by collateral? It could come in any form. If you operate an account with a bank that turns in enough money on a regular basis, that could serve as a collateral when borrowing. Same goes for borrowers who hold substantial shares in a bank.

From BBC account, the MD of Unity Bank (guess the only northerner among his peers) was spared because they "did not have sufficient capital but had enough to avoid being in a grave situation." - Tell that to a child

Hmm,no axe for Unity Bank?
What's the next step in this your banking reforms,Sanusi

I am tempted to believe that most people crying foul about on going exercise are either very young in age, so they still have time to work and make another money or they do not have enough stake in Nigeria financial sector. The fact is that something drastic needed to have taken place long before now. People have lost almost all their life savings in investment in Nigeria financial sector, particularly the pension funds lost almost 60% value in 2008/2009 with people either postponing their plan for early retirements or leaving with peanuts if the most go. Imagine contributing 10 - 20 % of your monthly salary and the cash disappears on delivery to fund managers. Imagine most stocks that soled PO at N17, N33, etc are all less than N4 now. All these because people entrusted with the money decided to go banana with the funds.

Given that investment is risk taken but those who run the companies too must have some sense of responsibility. That was lacking in the Nigeria banking sector going by current revelations.

This Sanusi guy na axe man when hin dey school. The guy fit sack people outside banking sector sef. Good work.

I thought bank phb md wanted to be heady initially ?

I hope say den no go sack micro finance bank ceos too.
lol!!!

NIgerians,,,,,,,,,,,,,,,,,, look people it cant get much more worse than it already is, so we have to give sanusi support.how? spread positive news.cos at thje end of the day, the result of reforms at the end make things not as usual.fine he made some mistakes in the handling of the excerise, but i predict that the economy will bounce back, 

well am enjoying my new job so much am happy i left that useless bank PHB
Do you all remember my thread and all the things i told you guys was going on in that useless bank.FA bit the fingers that fed him,at a point when the money got into his head too much ,he started to talk like GOD.am sure he never knew this could happen to him as he will never have merged FINACORP with BankPHB but now it is too late for him.

I hope he dies soon and his testtube babies die with him, he is so wicked and deserved nothing much from life.he cheats on his wife in front of her and buys cars for women with the bank's money.he chased mary B away and frustrated so many people out of their career in that bank and this is a real case of karma.him and other ED's have a lot of answers for EFCC as i hear those cheated out of the system like mary b and one man (cant remember his name),and so many other people have been submitting all sorts to efcc to nail him to pieces.Also for his loyalists,you people are the worst as some of you are the ones compiling the documents against your former boss.Well old friends always last,if this fool had stuck to aunty mary and not sacked her in shame after all she did for the bank with her "pulala" then he would maybe still be the MD

FA,a word for you is you are a big fool and 419er and your arrogant ways couldnt save you this time.Bastards never live.you better commit suicide,its better than for you to watch the government take a bank you built with your sweat from the beginning,only if you had listened.Over ambitiousness kills.The 2 billion you stole will be returned by force by the government.thief like you.

I wish you roast in hell with a heart attack just as you have made people that suffered with you cry and disgraced them out of the system