anonimi:
Good initiative from President Muhammadu Buhari.

asha80:
ok understood but from the article the funds to be withdrawn are govt funds or govt agencies funds so I don't get the when you said depositors funds

onatisi:
"He pointed out that if government decides to implement the policy strictly, there will be serious liquidity crisis as the top six banks in the public sector deposits control about 70 per cent of total money market liquidity."

ribbit:
rants of a village ediot

PassingShot:

Good.

Very soon, all of you guys will have no choice than to accept that PMB is the next good thing to happen to Nigeria since independence.

modath:


Bros... From you again??, shocking

Bravo!!!

anonimi:


I knew it was only a matter of time before a MYOPIC person make a comment like yours.

Show me one single post where you acknowledged a good initiative by Jonathan or STFU and keep your label of HYPOCRITE forever.

refreshrate:



Usually when people talk like this, they justify it like i did before.

You however just had to go ahead and prove me right didnt you?

onatisi come and see the person you were going into a debate with. You can now understand what i meant abi?

anonimi:


Why is it shocking

rusher14:
Banks are not meant to be artificially dependent on government accounts for sustenance.

Most banks in Nigeria refuse to maintain the true ethos of banking. They are mostly in to round tripping of funds, money laundry, and fast schemes which are inimical to the growth of the people.

Truly, there would be a downsizing of the work force but it is important for the banks to begin to see themselves as crucial to the growth and development of the Nation.

They should begin to fund enterprise, housing and infrastructure. What they've enjoyed for years are artificial deposits that benefit only the bankers and Directors of these government agencies.

Retail Banking isn't even meant to be one of the choice professions of graduates who have studied everything from agronomy to zoology. From engineering to Meteorology.


The party had to end some time.

Music wasn't even right ab Initio.

Ayomax:
you will end up in jail like him (you won't be as rich as him tho) in Jesus name, Amen!!!!!

Sodiumdawg:


Sure, people will lose jobs. Agreed.

If the part about six banks controlling 9.1 trillion with the remaining 19 or so "sharing" 3.9 trillion (70-30) is true, then my reaction is: "wahala dey".

Perhaps not, if the said six banks will bear most of the impact of TSA.

I see possible mergers, quite a number of layoffs, but maybe not unprecedented if we refer to Soludo's Consolidation drive.

ribbit:
its not important that we have 1billion banks.. 5 strong banks is enough .. Good .. The rest could merge .

mrvitalis:
The fact that the Nigerian government can't generate 15trn every year still surprises me
.....south Africa with a GDP of $350bn generates close to $100bn and we with a GDP of around $500bn struggle to make $50bn in a year.. .. .
Corruption has eaten this country dry

ribbit:
Nigeria ofcourse ..

Before merger, we used to have over 100 banks.. Every ediots open a bank, people deposit , and the bank folds up, people lose their money ..
Thanks to sanusi, Nigeria now has less down 20 mainstream banks strong enough to compete with any bank in the world and with branches all over the world ..
Less down 20 banks divided by over 200million people equals 10 million per bank.

If they merge again, it changes nothing but increases there operations and they will employ new people and be more efficient. Or what is the point of keeping your money in a place that is not safe?

onatisi:
who told you the banks are living fat on those monies? If you don't know it us because of those monies that many banks are still existing what this news is telling you is that expect the greatest job cuts and sacks in the banking industry.by the time those monies are withdrawn most of your friends who are bankers will be sacked and thrown into the unemployment market. Instead of government doing this in a single swoop,this policy should have been implemented in stages. Only the top 5 banks will be safe to bank with by November

onatisi:
bros the wahala is going too be too heavy on the system. Don't forget the dwindling oil revenue,the bottom line is our economy is still not totally conducive for government to implement this policy at a go.please don't get me wrong the policy is good it will curb corruption within the govt circle but what many are saying is that it should be done in stages to give room for banks to adapt and adjust as it is been implemented pls note this policy was actually initiated by gej but he delayed its implementation and wanted to do it on batches.you can't just withdraw 600govt parastatals account worth over 2.6trillion from the banking sector at a go and expect no serious reaction

refreshrate:


Onatisi!

Onatisi!!

Onatisi!!!

*using abokis voice* How many times did i call you're name? Youre smart enough to know when someone bereft of intellect writes something, why in Gods name are your responding to that village eediot?

Ehn!?

Why?

There are certain posts you see here on Nairaland you get better value conversing with a wall than the poster. You will injure yourself o.

Oh you think because etisalat now gives 10mb when they load 200naira and fairly used phones are all over the place that means everybody here has sense?

Theyre called smartphones...the person holding them most times, well thats a whole new story all together. please dont forget this...dont ever forget this.

Sodiumdawg:


Bro, we are agreed that there will be a negative impact. Where we differ may be in the extent of the impact.

While I agree that the TSA should be achieved in stages, well, the reality is that FG seems to favour doing it in one fell swoop.

I'm already looking at damage control; "shock absorption", if you will, if FG is not dissuaded from going ahead with their plan.

PS. I like discussing with you. You've got a quick mind.

pacodas:
Maybe the banks will start giving smes loans with favourable interest rates.

mrvitalis:
The fact that the Nigerian government can't generate 15trn every year still surprises me
.....south Africa with a GDP of $350bn generates close to $100bn and we with a GDP of around $500bn struggle to make $50bn in a year.. .. .
Corruption has eaten this country dry

princemillla:
No wonder zenith bank sack most it's staff.....



Watching

onatisi:
bros the damage control will be for many Nigerians to leave the country. I won't be surprise if interest rates on loans ho up which will increase cost of goods and production not forgetting the effects of cbn policy on forex. It seems buhari wants to change the whole setup but our economy is too big for such radical Change in a drastic manner.

Sodiumdawg:


Seems like PMB wants to "drive an eighteen-wheeler like a Porshe".

Shay?

*grabs passport*

onatisi:
the problems buhari is creating now with his solutions presently will take the incoming ministers months to resolve when they are eventually appointed