soloqy:

Good for you. Next, you look at all the other issues raised here and work on them.

Thats the best way to go about it and not to send staff in here to exchange insults with customers.That would make matters worse.

Dont underestimate the far-reaching consequencies of the posts on this forum. So like so many other companies, use this as an avenue to feel the pulse of your customers and change in the areas that are wanting.

I'm glad IBPLC have come back to their senses. Nairaland is a big forum which nigerians use to air their feelings and thoughts about many things. I've learned a lot from this forum(still learning)
I log on everyday to know whats happening back home.
I applaud everyone who made contributions on this matter. I wish we can also change the attitude of our political leaders from our constructive posts.
May God continue to bless Oluwaseun Osewa for giving us this forum.
We need more people like him in this country. God bless us all

[size=13pt]My goodness. So there are some Intercontinetal Bank staff on Nairaland!! I remember sending a link to this topic to their customer care! But I never thought they would join nairaland!! Anyways, now that you people are here, why did you suddenly bring the minimum balance back to 1000 naira from 10000 naira. I thought you had plans! What happened now! 

My second question is, I remember when Internet Banking was free last year, why didnt you give notification to customers before you started deducting 100 naira everymonth from their accounts. About 500 naira was taken from my account before I realised!![/size]

Kazuya M:

[size=13pt][b]My goodness. So there are some Intercontinetal Bank staff on Nairaland!! I remember sending a link to this topic to their customer care! But I never thought they would join nairaland!! Anyways, now that you people are here, why did you suddenly bring the minimum balance back to 1000 naira from 10000 naira. I thought you had plans! What happened now!

My second question is, I remember when Internet Banking was free last year, why didnt you give notification to customers before you started deducting 100 naira everymonth from their accounts. About 500 naira was taken from my account before I realised!!
b][/size]

there are two things we should realise about the purpose of a business entity.
1.services to customers and
2.profits for the stakeholders.
these are the two pillars upon which any organization stands.
so if certain business decisions taken does not agree with your target market it is only strategic that you show your versatility (rather than rigidity) by reversing such decisions.
on why you did not receive an alert before charges were taken for internet banking,im very sure there must have been a mistake or mix up somewhere becos most of my own customers did receive 2 months or less before the charges were effected.
but apologies for this.

Nairalanders!, Who was watching CNN this morning!! Road to Repair, They were discussing the failing Nigerian banking sector and CBN. So my topic has become so famous it has reached Soludo, CBN, and CNN.

Kazuya M:

Nairalanders!, Maybe, we have gone a little to far! Even if Intercontinental Bank has made some mistakes, I think we should try to save our economy. Let me show you how bad this has gotten. Who was watching CNN this morning!! Road to Repair, They were discussing the failing Nigerian banking sector and CBN.

Because they will want evrybody to catch cough because America has sneezed.

Why will your banks not fall?

we all forget that incontinental charge 50 naira for every withdrawal from ATM, even from their atm with their card, how can they charge u for collecting your own money, it is robbery. And they will not even give u the money over the counter, they will tell you if its less than 100k, use the ATM, i think they are just fraudsters and thieves.

Abeg leave the bank alone. THERE IS NOTHING WRONG. UP INTERCONTINENTAL

INTERCONTINENTAL BANK is not in anyway going to crumble. For the issue of our network downtime lastweek was as a result of a little system failure we experienced from our head hub. This issue has been resolved. It just happened that it came at a wrong time when the rumour of banks collapsing was eminent due to the global meltdown. Minimum balance for savings account still remains at the default amount of 1,000. Please dont close or advice people wrongly to close their accounts. Also do not forget some of our competitors are engaged in these rumours just to de-market INTERCONTINENTAL BANK.
CBN has confirmed it to the entire public the status of the bank. Just to reaffirm our commitment to all our stakeholders
INTERCONTINENTAL BANK IS VERY HEALTHY.
AUGUSTINE IDAEWOR
email- idaewor.augustine@intercontinentalbankplc.com

OMG, only in Nigeria, will they send pple to come post on an internet forum to discuss customer service.

I advise that the employees of this bank calm down, if a customer has an issue with your bank, they need to contact their personal banker or contact customer service.

Coming on a internet public forum to go back and forth with your customers is not a good look.

lol! I can imagine Chase employees coming on an internet forum to defend chase, they will probably get fired!

ikspencer:

Also do not forget some of our competitors are engaged in these rumours just to de-market INTERCONTINENTAL BANK.
CBN has confirmed it to the entire public the status of the bank. Just to reaffirm our commitment to all our stakeholders
INTERCONTINENTAL BANK IS VERY HEALTHY.
AUGUSTINE IDAEWOR
email- idaewor.augustine@intercontinentalbankplc.com

What do you think CBN will say - everybody go withdraw your money from IB Plc? The 2,500 so called maintenance deducted from my account is not rumour. it is thievery and could only be that ur profits was low considering the fact that u did this FEW DAYS TO END OF UR FIN YEAR.

@laniks

This is Nigeria bro. There is a need for them to clear up the bad press they are getting. This is a huge, well trafficked site.

Google and every major search engine would have crawled and gathered all these posts. You can imagine if you are a Bank and someone just does a generic search for banks in Nigeria and a thread about dissatisfied customers of your bank shows up.

Someone mentioned that he saw a slot on CNN where Nigerian 'failing banks' was being discussed.Do you think its a coincidence that it was happening just at the time  this thread started generating the heat in papers?

Its the internet dude, everyone reads everything about every other person.

People should learn to think outside the box. People in Chase have not had a large forum or thread started where a lot of negative press about them is discussed. If they do, they will definitely come in and say their bit.

They are doing some damage control here and you can tell from the tone of the customers that they are beginning to cool down.

The reason so many customers found this as an opportunity to speak is that so many customer care requests were not dealt with properly.

Just let a customer of Chase as you say go to a large forum abroad to complain about services so much that newspapers report it and lets see if the management of chase wont have staffers join that forum to defend the company.

I wonder how they can get sacked for defending the integrity of their work places.

What are you talking about?

hmn hmn hmn, guess i missed one hell of a party?
this is a very intersting house i most say. I personally appreciate everybody that contributed (both opposing and defending). This actaully shows that Nigeria is moving forward and mark my word "if we treat political issues with such zeal, Nigeria will be a better place."
Toubme made a very useful post and i seriously concur with him, lamex22 also confirmed that 99% of Nigerian bank are guilty of the crime.WHAT IS THE WAY FORWARD??
My advise to those complaining of hidden charges is that they have the right to ask questions on what ever happens on their account. Nigerian bank thrives on our ignorance and that is because we don't ask questions.let me tell you a story,
I operate a saving account with a ABC Bank(Name Withheld) in Nigeria and at a point, they deducted =N=7200 from my account and the narration was CASH HANDLING CHARGES without pre-informing me. After writing serials of letters to the Manager of the branch and he failed to do anything, i met a lawyer friend of mine and reported the case to him.
To cut the story short,the bank was served to appear in court and they quickly called me and the lawyer for settlement. They finally spent =N=19400 instead of the 7200 they debited me. I also heard a similar case in Coporate Affairs Commission (CAC) and the staff involved had to write an apology letter to me.
We should not be intimated, you have the right to know, if you don't know how to go about your complain, ask questions, PLS REMEMBER TO READ AND UNDERSTAND THE TERMS AND CONDITIONS OF AN ACCOUNT PACKAGE BEFORE YOU START APPENDING YOUR SIGNATURE
Never go home silent,

ikspencer:

INTERCONTINENTAL BANK is not in anyway going to crumble. For the issue of our network downtime lastweek was as a result of a little system failure we experienced from our head hub. This issue has been resolved. It just happened that it came at a wrong time when the rumour of banks collapsing was eminent due to the global meltdown. Minimum balance for savings account still remains at the default amount of 1,000. Please dont close or advice people wrongly to close their accounts. Also do not forget some of our competitors are engaged in these rumours just to de-market INTERCONTINENTAL BANK.
CBN has confirmed it to the entire public the status of the bank. Just to reaffirm our commitment to all our stakeholders
INTERCONTINENTAL BANK IS VERY HEALTHY.
AUGUSTINE IDAEWOR
email- idaewor.augustine@intercontinentalbankplc.com

As usual, no Nigerian bank will say its unhealthy. I've been a customer of IBPLC since 1997 and everymember of my family owns accounts with them, but i said my piece about this their 10k issue.
I'm glad they've resolved that one.
Now, since you guys have joined us on this forum, it's MANDATORY that you look into other complains about the bank. It's true that every establishment is out to make money but YOU MUST MAKE YOUR CUSTOMERS TRUELY HAPPY, not just print it on your calenders.
Just[b] PRACTICE WHAT YOU PREACH [/b]

we all forget that incontinental charge 50 naira for every withdrawal from ATM, even from their atm with their card, how can they charge u for collecting your own money, it is robbery. And they will not even give u the money over the counter, they will tell you if its less than 100k, use the ATM, i think they are just fraudsters and thieves.

[size=13pt]Lamex22, you are working for intercontinental bank, and I want to qoute you when you said that Intercontinental Bank brought the minimum balance back to 1000 because customers did not agree with the idea! Ok! DO YOU THINK CUSTOMERS AGREE WITH THE IDEA OF BEING CHARGED FOR INTERNET BANKING WHEN OTHER BANKS ARE OFFERING IT FOR FREE!!!!

Also if you want to charge for internet banking, why do you people go on advertising that your internet banking is free!!!

Please answer!!!!!!!!!!

As for Soludo, who thinks banks are demarketing other banks. This is false. It is customers that are complaining about bad services, not other banks demarketing other banks[/size]

ikspencer:

INTERCONTINENTAL BANK is not in anyway going to crumble. For the issue of our network downtime lastweek was as a result of a little system failure we experienced from our head hub. This issue has been resolved. It just happened that it came at a wrong time when the rumour of banks collapsing was eminent due to the global meltdown. Minimum balance for savings account still remains at the default amount of 1,000. Please dont close or advice people wrongly to close their accounts. Also do not forget some of our competitors are engaged in these rumours just to de-market INTERCONTINENTAL BANK.
CBN has confirmed it to the entire public the status of the bank. Just to reaffirm our commitment to all our stakeholders
INTERCONTINENTAL BANK IS VERY HEALTHY.
AUGUSTINE IDAEWOR
email- idaewor.augustine@intercontinentalbankplc.com

Cant you make your point without putting your official email  on a public forum?     

I am just suprised about this Intercontinental palava. I just open an account in their bank late last year on my own believing they were student friendly but I have come to see they are not. Starting from the day I wanted to collect my ATM card I was told that the person who is in charge of ATM card is not around so I have to come back the next day whereas I have an important issue to solve with my money.

There was also another instance when I told a friend to pay some money into my account to help her get some things done but when i wanted to withdraw it at the ATM point I was told in have insufficient fund. There are bank where you don't have to have a minimum balance.

[b]To all Banks: [/b]PLS if some one want to open an account with you why not tell the person all your conditions/charges and stop distorting/disrupting other people's plans and telling them about your hidden charges.

To all Banks: PLS if some one want to open an account with you why not tell the person all your conditions/charges and stop distorting/disrupting other people's plans and wait until when there is problem to start telling them of your hidden charges.

Or can IBPLC explain the N50 charged on every intra-bank ATM withdrawals. It is not as if your ATMs are always available they still go out of service yet you claim you use the N50 for keeping the ATM work are others not keeping theirs working without this N50

I am really disappointed in Intercontinental Bank may be I will just continue to use my other account which to me it is student friendly though it is a little far from me.

lol! again! Naija pple will not kill me-- okay.
please google "I hate chase' to see the tremendous hate generated towards chase bank from customers and employees-- http://www.google.com/search?q=i+hate+chase&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

Also, as the owner of a small business I also use paypal a lot, please google paypal to see sites dedicated to the hatred towards Paypal Again, this is not a customer service line, I personal do not response to all the negative/positive views that I read on the net about my business, as a matter of fact, I have since stopped google my business name because if anyone has any issues they will contact our customer service line, this is the only the issue can be resolved.


however, i am not too surprise about the situation here, since its naija and these are pple that pray before a business meeting.

BTW-- I am a girl, not a "bro"

Ok, now you have brought that up.

Take a look at this link which the google link brought up : http://boards.thenest.com/boards/ShowPost.aspx?PostID=13471918 .

The third post on that page is a post by a Chase worker replying to a customer's rants and complaints.

You said that you personally do not respond to negative views you read about your business, but some serious situations warrant that other people get so concerned about their own company's image that they just have to respond.


BTW, sorry for referring to you as bro

http://www.proshareng.com/myproshare/portal_news.php?id=6083

Intercontinental Bank Plc appears to be in crisis
Posted Wednesday, March 18, 2009

NB: ProshareNI has written to Intercontinental Bank Plc to obtain a factual evidence of the claims published below and we advise all readers and users of the site to take this publication as a 'public information' ONLY which we had to acknowledge given that our analyst had issued an alert on the bank during our June 2008 seminar in Lagos, then, the Chief Technical Analyst, C. Biosah, had raised the issue of Intercontinental Bank's inability to pay high dividend (i.e., the bank had a low dividend yield). He had noted that in light of the large net income reported on the FYE financials, how come they paid out less than N1.00k in dividend. He concluded the case study by questioning the accuracy of the finacial statements so reported.

We intend to conduct an analyst report on the bank and follow through with investigations at CBN, NDIC, SEC and NSE as well as the banks firms of auditors and customers to validate the reality here. In the meantime, we must state that there is no factual data and information to support the conclusions reached below and advice investors to acknowledge the developments but stall action for the next three weeks when we hope to issue out our report.

-          CBN and Intercontinental Bank required to clarif
Intercontinental Bank, one of Nigeria’s high-flying banks appears to be facing serious difficulties that could force it into liquidation before the end of 2009. The bank’s precarious situation is due to its huge exposure to toxic loans to stockbrokers and importers of petroleum products.

While CBN has offered a stout defence of the bank’s financial position, a detailed investigation by THE INSIDER has confirmed that Intercontinental’s net assets are dwindling by the hour. The FIRS recently stopped the bank from collecting revenue and the EFCC has invited some of the bank’s top brass over the 19 billion facility given to Alhaji Shehu Badamasi, the CEO of Tanzila Petroleum.   

The bank recently tried to raise some money by increasing its minimum savings balance from 1,000 to 10,000 hoping to use the cash to bolster its books. The move backfired as the general public could not understand the rationale behind the directive. As people rushed to withdraw their funds, the bank shut down its systems on March 6, 2008 and later blamed it on a technological problem. 

Staffers of Intercontinental are already looking for jobs in other banks as it has become obvious that only a miracle will save Erastus Akingbola’s empire. His well publicized plans to buy a Rolls Royce Phantom on his sixtieth birthday may soon have to be placed on hold as the stark reality finally dawns on him.
Yesterday’s CBN directive would have carried more weight if the agency could be trusted.

Professor Soludo promised depositors before the consolidation that no depositor would lose his money after the merger process. That turned out to be a blatant lie. Sylvester Odigie, a prominent businessman still has 300 million trapped in Fortune Bank not to talk of smaller customers that cannot afford to publicize their plight on the pages of newspapers. Soludo knows that there is a 95% chance that he will not be offered a second term at the helm of the CBN so he can afford to endorse Intercontinental Bank knowing that he is on his way out.

By the way, Intercontinental Bank has developed the habit of using its “Best Bank in Nigeria” award as a cudgel. Whenever, the bank receives bad press, it reminds us that The Banker, an affiliate of The FT named it as the Bank of The Year for 2008. But the same lazy researchers at The Banker, a PR rag, said that Spring Bank was one of Nigeria’s top five banks. A few months later, Spring Bank nearly collapsed. Lesson: Awards mean nothing. Always do your own due diligence.

By the way, I received a “damage control” text message from Intercontinental Bank today. It read, “Dear esteemed customer, the minimum balance on your savings account remains N1,000. Kindly disregard our earlier SMS on the increase. We regret any inconveniences and appreciate your continued patronage.” It came too late. I’ve already cleaned out my account. I advise you to do the same.

Source/comments:
Please email Dayo Coker

dayo.coker@gmail.com

Ex-Editor,

NIGERIAREPORTERS.COM

need we say more?

I TOLD YOU!! I TOLD YOU PEOPLE!! INTERCONTINENTAL BANK WILL SOON FAIL. READ THE ARTICLE, IT HAS PREDICTED THAT BY THE END OF 2009, INTERCONTINENTAL WILL BE DEAD!! OH NOOO!!!!             


"Intercontinental Bank, one of Nigeria’s high-flying banks appears to be facing serious difficulties that could f[b]orce it into liquidation before the end of 2009[/b]. The bank’s precarious situation is due to its huge exposure to toxic loans to stockbrokers and importers of petroleum products.

While CBN has offered a stout defence of the bank’s financial position, a detailed investigation by THE INSIDER has confirmed that Intercontinental’s net assets are dwindling by the hour. The FIRS recently stopped the bank from collecting revenue and the EFCC has invited some of the bank’s top brass over the 19 billion facility given to Alhaji Shehu Badamasi, the CEO of Tanzila Petroleum.   

"The bank recently tried to raise some money by increasing its minimum savings balance from 1,000 to 10,000 hoping to use the cash to bolster its books. The move backfired as the general public could not understand the rationale behind the directive. As people rushed to withdraw their funds, the bank shut down its systems on March 6, 2008 and later blamed it on a technological problem

Staffers of Intercontinental are already looking for jobs in other banks as it has become obvious that only a miracle will save Erastus Akingbola’s empire. His well publicized plans to buy a Rolls Royce Phantom on his sixtieth birthday may soon have to be placed on hold as the stark reality finally dawns on him.

soloqy- we can agree to disagree.

Back on topic.
So, in if the bank fails, what happens to peoples money? I am not that into Nigerians bank, is there insurance?
Do the customers get their deposits back?

In Nigeria, when banks fail, customers do not get there money back completly. In some cases it is only a percentage, in other cases it is only if your account was over a certain amount that you will be paid some money.

[size=13pt]CURRENT SHARE PRICE: Share Price: N5.69 -0.03K, What happened now  , I remember when the share price was N40, from N40 share price has dropped to N5! N5 biscuit!!       [/size]

@Kazuya

Take it easy.

Let it not appear as if you are actually praying for their failure.

The good book(bible) says we shouldnt rejoice at the misfortune of others even our percieved enemies.

On the contrary, we must not let it fail. Lot of us have family and friends working there.

Kazuya M:

[size=13pt]CURRENT SHARE PRICE: Share Price: N5.69 -0.03K, What happened now , I remember when the share price was N40, from N40 share price has dropped to N5! N5 biscuit!! [/size]

@Kazuya

Wzup with the jubilation, Bro We want intercontinental to be truthful and fair in their dealings and not for them to collapse. Take it easy Bro. When people lose their jobs, innocent babies and families also suffer. I hope all these will teach bankers a lesson to check their attitude and the way they treat customers and general public.

I have read thru all the posts and think I have not being able to logically see the ground for the distress talk. I think a lot of people are just being malicious here. While there have been genuine concerns about certain policies about the bank from conerned customers I still believe people should clearly separate the call for policy changes from distress shouts.  The fact that a 19  billion facility (if true) goes bad is far insufficient to pronounce a bank as distressed expecially with the shareholders  fund that is far higher than that. Need I state other indices that are important here?

As touching the systems failure I must state that in this country we have grown up to understand that systems fail. This is evident everywhere we look in the country. Even for banks systems fail and I think Intercontinental has not been too guilty in this regard. I am a customer of the bank and will tell you that although  there was noticeable  system drag , but ATMs in my area were paying through out the period although a few people complained about their balances on the first day. The truth is that worldwide CASH IS KING expecially in these challenging times but when there is no evidence of defualt on payments from the bank then in fairness let us stick to the policy issues that we the customers want them to change.

On those that talk about share prices I think we have to be real. First bank rose to as high as 90 naira 2 yrs ago, Zenith hit the 60 naira mark, need I tell you about flour mills that crossed the 100 naira mark and is trading now at about 10% of that value. I threatened my stockbroker januray last yr to buy dunlop at 5 naira or loose my patronage. Now the price is less than 1 naira. Please and plaease our country is where it is  now becuase of deliberate outright lies or half truths. Lets not employ that tactics here. As  a customer I need facts.

As for the talk about financing the real sector(manufacturing) and not short term loans banks give, I want us to understand that no one will invest any serious funds in a sector that is bedeviled with infrastructural defects. Lets be real.  Finance is not the main reason why manufacturing is dying in nigeria we all know that. ASK DUNLOP, AJAOKUTA STEEL etc. Even MAN has never stated finance as their  main challenge.

Lets  be real and factual .lets us stick to  the policies we want them to change. When I see any genuine reason to close my account I will but for now I smell so much malice.

This "de-marketing" and "Banking Policy oversight” excuse being given by Intercontinental Bank is inadequate to address this public outrage and loss of confidence in the bank. Honestly speaking this matter has spiraled out of control.

Nobody has categorically named the banks that have March 31st as year end in order to appropriately apportion supposed De-marketers, and Intercontinental bank has not officially refuted claims that its Policy to increase minimum deposit for Savings account from N1,000 to N10,000 was not a cash mobilization drive to bail it out of illiquidity as being claimed by http://www.proshareng.com and numerous posters. If both issues are not clarified, the far reaching consequences of this matter cannot be overemphasized.

I consider the bank’s reversal of its Savings account minimum to N1,000 without proper explanation to it esteemed customers as to why it was increased to N10,000 in the first place as poor damage control by the bank.

In my earlier post I had rebuked people wishing Nigerian banks to fail which I pray and don’t believe will happen but in the same strength I also advocate for some banks to treat its customers with due respect and regards.

@ poster of this thread u must have been inspired by my spirit of discern. Intercontinental? I deserted for a long time even though I have stocks with them which i have been begging friends to come and take @ a give away price. I opened the account when i was working in warri some yrs back. could u imagine at evry wwithdrawal then made on their ATM they charge #65 plus monthly charge on the acct (savings). U c when a bank is getting frustrated they begin to bcome a liability to acct holders. collecting different charges, The case of standart trust bank then, on my student savings acct they were charging me as if i was a biz man. at a time they retrenched most of their graduates (BSc/HND) and begin to mass recruit OND holders for peanuts. imagine that!!! For zenith, if care is not taken i envisage their own calamity. Imagine their initiated move into purchase of stocks for short term yield, i think they are all caught up by "BUBBLE BURST". I wonder y most of my guys on MPNU projects have withdrawn their accts from zenith to other banks. They claimed zenith isn't giving them facilities rather they refer them to microfinance banks. So, i asked if this big boys collect facilities from microfinance banks. what will be the fate of the poor / vulnerable households?
To Intercontinenetal again i got the sms of 10K balance from them but wasn't moved cos i'd already abandoned my acct. few days later i got another that it has been reversed to 1k, it didn't move me still. I'd advise our banks look for credible biz to invest other than exploit their individual acct holders.

Banks contest for top position i.e. No1 bank in Nigeria, the most capitalised bank, the first in this and that. All these resulted in cut throat competition to be in league of No1 bank or the top tier. The industry has been stratified into top 5 banks, top 10 banks and others.

Battle for top 5 appears to be hottest where you have the likes of Firstbank Union bank, United Bank for Africa, Intercontinental Bank, Zenith, Oceanic bank and GTBank have been in this rat race since after consolidation. This has been the breeding ground of high profile de-marketing.

The top 10 banks were up coming and fast driving banks, playing in another hot platform for de-marketing. Those in this category includes BankPHB, Diamond Bank, Access, Afribank, Fidelity, FCMB, Ecobank and a few others. This group posses two driving spirits (I.)Pull down any of the seven earlier mentioned and displaced them in the big boys category. (ii.) to distinguish themselves as having arrived and create impression that they are equally big and a force to reckon with or at least on a class of its own different from the others in category 3.

The scenarios is the battle for key accounts, where the market size has become for blue chip borrowers and large cash cow accounts have narrowed considerably to few public sector entities and government with equally fewer private or corporate accounts. Clash of banks jostling to take positions breed fierce acrimony, a veritable ground to breed de-marketing.

There is also the suspicion that old generation banks are not comfortable with the speed of rise of some new generation banks and with the threat of dethroning them from their traditional positions they have to be checkmated.

Finally, and what precipitated the latest de-marketing could be connected with year-end antics of banks, the behaviour of banks in the time past has always been to help one another in the interbank deposit market, with a view to boosting their deposit figures for balance sheet reporting. Thus bank A would agree with another set of banks to take internal deposits to beef up, its books such that after bank A’s year-end, the bank would take position to give corresponding treatment to the others during their own year end. Thus the banks have staggered there year end, between February and December (Its Only January that does not have a bank’s financial year –end). This unholy alliance had made CBN to roll out plans for a uniform year end mid last year, but this was vehemently frustrated by some banks, forcing CBN to abandon the plan.

However, with the need to sanitise, strengthen and straighten out things in the banking industry CBN and the Bankers Committee had to agree to a uniform year-end early in March 2009, to be effective Dec2009, this development formally broke the unholy alliance forcing every bank to be on its own for the purpose of year end.

Again the banks are back to the trenches employing all forms of tactics to meet there year-end target. This circumstance was worsened because most of the banks have their year-end between March and July; almost over 70% of the banks belong to this category, making the competition stiffer. Thus de-marketing option appears inevitable, especially for some that are desperate to retain their status.

Click for more on DE-MARKETING http://naijacorrect..com/