Are Nigerian Banks sick?

If possible some Nigerians would suddenly discover that tsunamis would hit Kano or Lagos just because tsunamis occurred somewhere in Asia. Reading some comments about some Nigerian banks over the past few hours just made me concluded that most of the comments are from uninformed positions,
That a bank in US and UK is distressed to some of my folks automatically translate to distressed Nigerian banks. One of the arguments advanced was that one of Nigeria’s biggest bank was distressed just because the bank said it planned to reviewed upward it savings minimum balance to this development the next conclusion is the bank is distressed all man go withdraw your money ooo before the bank collapse what can be further from the truth.
Hahahahahahahahah, hope you guys could see my laughter; D
Using logic: Can a bank in distress ask customers to increase minimum deposit to N10, 000? Logical move by any distressed bank is to grabbbbbbb every available deposit by lowering minimum savings balance but the bank did the very opposite which rather than being interpreted as being distressed should be seen as being highly fluid and looking for ways to re-structure its deposit structure to suit its new business focus.
The bank is not distressed it’s just getting ready for the next stage of its development and evolution; remember Nigerians are winning a lot of big gifts in the banks ongoing savings promo asking customer to maintain N20, 000 in their account and get rewarded this same Nigerians were comfortable with that arrangement but when asked to maintain N10,000 for better services they shouted blue murder hababababababababa… any reply
There banks whose minimum saving balance is N50, 000 and nobody caused a steer over the development, the logical conclusion is when we look through parochial sight we see mischief in every bold move to change. The banks definitely have challenges but not to the point of saying the banks are sinking.

@picazy

Keep laughing, i wish Nigerian banks well but you have got to wonder who the hell is making decisions for these banks?? Distress or no distress, what kind of bank increases their min. saving account deposits in an econonmy like Nigeria?? when most civil servants don't earn but N25,000 a month and that is even if they are paid on time. with a decision like that, distress is just a door step away. Keep laughing ok! that smirk will be wiped off your face when intercontinental finally realize how many people has closed their account in the last few days. The so called politicians money they depend on is drastically reduced too, remember crude oil is now like $40.00/barrel as oppose $140.00 last year. yeye people.

Keep laughing, i wish Nigerian banks well but you have got to wonder who the hell is making decisions for these banks?? Distress or no distress, what kind of bank increases their min. saving account deposits in an econonmy like Nigeria?? when most civil servants don't earn but N25,000 a month and that is even if they are paid on time. with a decision like that, distress is just a door step away. Keep laughing ok! that smirk will be wiped off your face when intercontinental finally realize how many people has closed their account in the last few days. The so called politicians money they depend on is drastically reduced too, remember crude oil is now like $40.00/barrel as oppose $140.00 last year. yeye people.

get eduacted: A minimum balance means you can only open the account with N10,000 but you can draw the account to the last kobo, for civil servants what they have is a salary account. Meaning the civil servant can open with any amount and draw same account to the last kobo. haba haba big bros lets not misinform the public state it correctly and clearly

get eduacted: A minimum balance means you can only open the account with N10,000 but you can draw the account to the last kobo, for civil servants what they have is a salary account. Meaning the civil servant can open with any amount and draw same account to the last kobo. haba haba big bros lets not misinform the public state it correctly and clearly
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So the college students that does not have up to 10k cannot bank with intercontinental. Do you know how many college students that is?? No matter how you look at it, is a very poor business idea.

Students go into the banking hall with identity cards as students, that immediately gives them special status in any nigerian bank including Intercontinental, this special arrangement definitely would not affect students because tyhe regulatory authory is wacthing the activities of every bank through the Know Your Customer (KYC) policy. Students don't need to loose sleep over such banking policy because they are well covered just like the civil servant.

Come to think of it, studenst of every Secondary School, University, College of Education, Polytech and private universities have one special account or the other with various privilegdes, which is more than N10, 000 and for the records, YOU ARE ALLOWED TO DRAW DOWN YOUR ACCOUNT TO THE LAST KOBO, STUDENTS INCLUSIVE

the correct information is that savings account of students and rural branches is still the same
this has not increased a dime
pls let us be informed correctly

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You have 90 per cent probability of getting employed in the financial services industry than in any other sector of the Nigerian economy, the oil companies are down and partially out, the civil service needs fresh blood from this young graduates but can the civil services employ everybody?

The graduates are they employable? what manner of graduates are unemployed, I started working for free immediately after service year for one whole year before I secure employment, can you do that?

You are unemployed because you choose tooo, create employment where there is none and very soon you will be employed by yourself or someone will find you employable.

China cancels $2.5b rail project loan, the ones collected before what happened to the funds? Let China go with the money, with the global financial meltdown how do you intend to pay back? Remember we are running a deficit budget now.


Dangote’s wealth drops by $0.8bn on account of financial meltdown
Although his assets fell in value from $3.3bilion in 2008 to $2.5billion this year, Aliko Dangote, Nigeria’s foremost industrialist has moved up in global ranking of the world’s richest men from 334th position last year to 261st in 2009.

Do you no why, he moved up he has wealth value creating assets though value may be falling but the assets are generating wealth case close, go and start something that would create value.


First Inland Bank profit drops by 75%

that is not to say the bank is sick it only reflects the Nigerian economy and more banks would declare lower profits as time goes on but once the global economy picks up the banks profit positions would equal follow the Northward progression , seeeeee you get my drift