naijaGhandi:
Some people will still find a way to blame PMB in this situation.

Ugosample:



What do you think will happen to these banks AFTER the remittance?

seunmsg:
United Bank for Africa (UBA) $530m; First Bank of Nigeria (FBN) $469m; Diamond Bank Plc ($287m); Sterling Bank Plc ($269m); Sky Bank Plc ($221m); Fidelity Bank ($209m); Keystone Bank ($139); First City Monument Bank (FCMB) $125m; and Heritage Bank ($85m).



It is so unfortunate that these evil banks would deliberately refuse to remit a whooping $2.3bn in a period of acute forex shortage. Not even the economic challenges of the country or the free for all drop of the Naira could appeal to the conscience and patriotism of the management of these banks to remit this huge amount of money at a period when the country needs all the available dollars that can be gotten. I sincerely hope CBN and other relevant government agencies will impose more stiffer sanctions and punishment against the banks and their collaborators from NNPC.

seunmsg:


http://www.thisdaylive.com/index.php/2016/08/23/no-nonsense-cbn-bars-eight-banks-from-all-forex-transactions-for-concealing-2-125bn-nnpc-funds/

Anwonspee:


What do you think that is already happening to the Nigerian economy without the remittance?

Should I feel for them? I don't think so because they failed to assist the average Nigerians with necessary necessities.

Instead, they preferred to help themselves by only listening and responding to the so called big boys for loan with little or no collateral while they asked the average Nigerians to provide heaven and earth to scare them.

mare23ayo:


My Brother, if the government insist they pay all the money into TSA, what do you think would be left for those banks to operate with? just try and imagine what will happen to jobs. Don't let me say further.

Kollyman:
Someone should please tell the banks that the era of free food is over, we are now in the era of no work no food.

Kollyman:
Someone should please tell the banks that the era of free food is over, we are now in the era of no work no food.

Flexherbal:
Almost all the popular banks are guilty.

tiwiex:
I think CBN is being unfair to the economy to make this announcement. The comments I read will be the same reservations by external investors. Can someone point out how releasing the news helps the banks or me and u. As a matter of fact, it puts them in a worseThese guys are still campaigning. They are ready to sabotage the economy to convince us they are working.

seunmsg:
[b]United Bank for Africa (UBA) $530m; First Bank of Nigeria (FBN) $469m; Diamond Bank Plc ($287m); Sterling Bank Plc ($269m); Sky Bank Plc ($221m); Fidelity Bank ($209m); Keystone Bank ($139); First City Monument Bank (FCMB) $125m; and Heritage Bank ($85m).[/b. Well said, these managers whose concept of care is "God cares for everybody; everybody for himself "


It is so unfortunate that these evil banks would deliberately refuse to remit a whooping $2.3bn in a period of acute forex shortage. Not even the economic challenges of the country or the free for all drop of the Naira could appeal to the conscience and patriotism of the management of these banks to remit this huge amount of money at a period when the country needs all the available dollars that can be gotten. I sincerely hope CBN and other relevant government agencies will impose more stiffer sanctions and punishment against the banks and their collaborators from NNPC.

tiwiex:
I think CBN is being unfair to the economy to make this announcement. The comments I read will be the same reservations by external investors. Can someone point out how releasing the news helps the banks or me and u. As a matter of fact, it puts them in a worseThese guys are still campaigning. They are ready to sabotage the economy to convince us they are working.

Businessideas:
Even the new bank,Heritage Bank owned by Senator Saraki is on the list!!
I'm not surprised that GTB isn't on the list. They are presently the most conservative bank and most credible bank in Nigeria. I pray First Bank will not end the same way Union Bank ended

egbonnla:
Most of the banks will not be able to refund the money because they simply don't have cash to back up the amount and their assets has been depleted. I am well informed to know that CBN has been writing reminders and threatening these banks with sanctions to return these funds, but they cannot give what they don't have.
Most of the funds came in when Naira was N165 to 1$ and the banks has used it for FX trading. Now it is N330 to 1$ and the forex is not even available. CBN cannot claim ignorance of the present circumstances of these banks. Now is the time for banks to re-strategized and assume their traditional conservative roles. The era of paying reckless salaries to their staffs and depending on government fund is gone.
In the next couple of months, I can see the collapse of half of Nigerian Banks. Difficult times are indeed here!

fizzy4luv:
CBN; Nigerian banks can't do without Government fund , go to any Nigerian bank and tender an instrument withdrawing more than 100 million naira, you will see multitude of staff begging you not to take your own money . Its glaring that our banks are used to trading with these funds and have neglected the real sectors of the economy for so long. They declare huge profits and declare high dividends with little sweat . If an independent audit of all funds stashed in Nigerian Banks are conducted . CBN should have advised the Federal Government to have adopted a phased withdrawal of Government funds from the banking sector and not the bullet method used or even suspend it while the economy stabilize a bit while engaging reputable audit firms to examine public entities accounts to monitor funds.
Banks; I pity banks , they are now being forced directly to relate and engage the real sectors of the economy via lending to help stimulate growth, they just can't seem to let go of the cake and pudding way of making fast money, one shouldn't be too fast to blame them, a lot of recalcitrant bad debtors also make the Nigerian clime a difficult terrain for lending . Lately aggressive means of recovery have been embarked upon to recover bad debts.
Lastly CBN should find a lasting endearing solution , even if it means inviting all bank chiefs to discuss with the Executive arm of Govt, on how to navigate this turbulent times. unless when the banks start to fire from all angles , even FG won't be able to cope with the backlash of sacked workers

Businessideas:
Even the new bank,Heritage Bank owned by Senator Saraki is on the list!!
I'm not surprised that GTB isn't on the list. They are presently the most conservative bank and most credible bank in Nigeria. I pray First Bank will not end the same way Union Bank ended

malosky79:



Sabotuas, enemies of progress....smbody will say Nigeria is broke admist plenty....God is watching.

Businessideas:
Even the new bank,Heritage Bank owned by Senator Saraki is on the list!!
I'm not surprised that GTB isn't on the list. They are presently the most conservative bank and most credible bank in Nigeria. I pray First Bank will not end the same way Union Bank ended

fizzy4luv:
CBN; Nigerian banks can't do without Government fund , go to any Nigerian bank and tender an instrument withdrawing more than 100 million naira, you will see multitude of staff begging you not to take your own money . Its glaring that our banks are used to trading with these funds and have neglected the real sectors of the economy for so long. They declare huge profits and declare high dividends with little sweat . If an independent audit of all funds stashed in Nigerian Banks are conducted . CBN should have advised the Federal Government to have adopted a phased withdrawal of Government funds from the banking sector and not the bullet method used or even suspend it while the economy stabilize a bit while engaging reputable audit firms to examine public entities accounts to monitor funds.
Banks; I pity banks , they are now being forced directly to relate and engage the real sectors of the economy via lending to help stimulate growth, they just can't seem to let go of the cake and pudding way of making fast money, one shouldn't be too fast to blame them, a lot of recalcitrant bad debtors also make the Nigerian clime a difficult terrain for lending . Lately aggressive means of recovery have been embarked upon to recover bad debts.
Lastly CBN should find a lasting endearing solution , even if it means inviting all bank chiefs to discuss with the Executive arm of Govt, on how to navigate this turbulent times. unless when the banks start to fire from all angles , even FG won't be able to cope with the backlash of sacked workers