Nine commercial banks are in a deep possibility of going down if they are not specially rescued. They are United Bank for Africa (UBA), First Bank, Diamond Bank, Sterling Bank, Skye Bank, Heritage Bank Wema Bank, Unity Bank and Fidelity Bank.

According to a report emanating from the Central Bank of Nigeria (CBN) which has discreetly worked on stress tests, no less than nine commercial banks have demonstrated a level of distress that requires they recapitalise in order to avert the banks’ possibly falling into distress.

Although, the report emphasised that none of the affected banks was “in imminent danger of collapsing,” a source at the Central Bank of Nigeria (CBN) told www.gongnews.net that the regulatory bank’s action was meant to pre-empt any bank collapse in the near future.
The worst hit bank is Skye bank which is facing a serious level of distress that could lead to its total collapse.

The source revealed further that several of the affected nine banks have neglected to maintain healthy capital liquidity levels. As a result, some of the banks were described as tethering on the brink of total collapse making depositor funds remain at heavy risk.

First Bank was also one of the most precarious positions since the bank made several bad loans to two oil tycoons, Jide Omokore and Kola Aluko. The bad loans amounted to N120 billion.

According to our source, the loans were given without any collateral but on the basis of a guarantee by former Petroleum Minister, Diezani Alison-Madueke, that both businessmen would enjoy strong state patronage in the oil industry in the form of production sharing agreements with the Nigerian National Petroleum Corporation (NNPC).

First Bank recently changed its chief executive as the bank tries to revamp its operations.

Our CBN source disclosed that these nine banks were involved in what is referred to “reckless loan practices.”

The CBN report “is not meant to create a panic in the banking sector but the facts needed to be stressed for some rescue mission to be undertaken to save the nation’s financial system from a catastrophic danger hanging in the air, adding that the capitalisation order to certain banks was to avoid the recurrence of the 2010 banking crisis that saw Nigeria giving banks a huge bailout.

The CBN source said the creation of the Treasury Single Account (TSA) also led to further stress in the banking sector as most of the banks merely served as purveyors of stolen government funds or illegally stolen fund deposits that were diverted from government accounts.

The source said the latest approach announced by the CBN pushing down interest rates were all proactive and pre-emptive measures to prevent a total calamity in the Nigerian banking sector.
- See more at: http://www.gbam.tv/business/sterling-skye-uba-six-other-banks-stressed-unsafe-%E2%80%93-cbn#sthash.aQLgZ5W6.dpuf

Please, you want to start a very terrible war for these nine banks. Remember, no bank can survive a run. Kindly delete the post to avoid panicky withdrawals.

Xetima:
Please, you want to start a very terrible war for these nine banks. Remember, no bank can survive a run. Kindly delete the post to avoid panicky withdrawals.

I dont intend to start any war. Its a story that has a source.

I think its good to let Nigerians know whats happening. How would you feel if anything happens to this banks.

Its public knowledge that with TSA, most nigerian bank cant stand alone.

So pls, its a story i saw and i wish others to see it too and learn from it.

And your source is gbam.TV? Get a better source

http://articlesng.com/bank-distress-critical-review-courses-control-nigerian-banking-industry/
Bank distress in the Nigerian banking industry

Chickens coming home to roost.
A lie might go for a thousand years, but d truth catches....

bolajJP007:
Nine commercial banks are in a deep possibility of going down if they are not specially rescued. They are United Bank for Africa (UBA), First Bank, Diamond Bank, Sterling Bank, Skye Bank, Heritage Bank Wema Bank, Unity Bank and Fidelity Bank.

According to a report emanating from the Central Bank of Nigeria (CBN) which has discreetly worked on stress tests, no less than nine commercial banks have demonstrated a level of distress that requires they recapitalise in order to avert the banks’ possibly falling into distress.

Although, the report emphasised that none of the affected banks was “in imminent danger of collapsing,” a source at the Central Bank of Nigeria (CBN) told www.gongnews.net that the regulatory bank’s action was meant to pre-empt any bank collapse in the near future.
The worst hit bank is Skye bank which is facing a serious level of distress that could lead to its total collapse.

The source revealed further that several of the affected nine banks have neglected to maintain healthy capital liquidity levels. As a result, some of the banks were described as tethering on the brink of total collapse making depositor funds remain at heavy risk.

First Bank was also one of the most precarious positions since the bank made several bad loans to two oil tycoons, Jide Omokore and Kola Aluko. The bad loans amounted to N120 billion.

According to our source, the loans were given without any collateral but on the basis of a guarantee by former Petroleum Minister, Diezani Alison-Madueke, that both businessmen would enjoy strong state patronage in the oil industry in the form of production sharing agreements with the Nigerian National Petroleum Corporation (NNPC).

First Bank recently changed its chief executive as the bank tries to revamp its operations.

Our CBN source disclosed that these nine banks were involved in what is referred to “reckless loan practices.”

The CBN report “is not meant to create a panic in the banking sector but the facts needed to be stressed for some rescue mission to be undertaken to save the nation’s financial system from a catastrophic danger hanging in the air, adding that the capitalisation order to certain banks was to avoid the recurrence of the 2010 banking crisis that saw Nigeria giving banks a huge bailout.

The CBN source said the creation of the Treasury Single Account (TSA) also led to further stress in the banking sector as most of the banks merely served as purveyors of stolen government funds or illegally stolen fund deposits that were diverted from government accounts.

The source said the latest approach announced by the CBN pushing down interest rates were all proactive and pre-emptive measures to prevent a total calamity in the Nigerian banking sector.
- See more at: http://www.gbam.tv/business/sterling-skye-uba-six-other-banks-stressed-unsafe-%E2%80%93-cbn#sthash.aQLgZ5W6.dpuf

It is not enough to have a source. It had better be a credible source. If this is fake news you might be sued for libel or even economic sabotage.

Not too late to delete this.

Remove FBN from that list abeg

bolajJP007:
I dont intend to start any war. Its a story that has a source.

I think its good to let Nigerians know whats happening. How would you feel if anything happens to this banks.

Its public knowledge that with TSA, most nigerian bank cant stand alone.

So pls, its a story i saw and i wish others to see it too and learn from it.

and out of all the credible new outlets in nigeria , it is only your gbam.tv that got this news abi . well done , it seems the mods here havent banned you before for 30years , just wait let them come online

Sterling bank! Them never tell us wetin dem dey do to survive,maa go collect my 27k abeg,that one reach take buy " I pass my neigbour"

And two years later this stupid post is still floating around. Are the mods in a coma?

ElsonMorali:
And two years later this stupid post is still floating around. Are the mods in a coma?

dont mind the dumb op , coming here to post fake news

bolajJP007:
Nine commercial banks are in a deep possibility of going down if they are not specially rescued. They are United Bank for Africa (UBA), First Bank, Diamond Bank, Sterling Bank, Skye Bank, Heritage Bank Wema Bank, Unity Bank and Fidelity Bank.

According to a report emanating from the Central Bank of Nigeria (CBN) which has discreetly worked on stress tests, no less than nine commercial banks have demonstrated a level of distress that requires they recapitalise in order to avert the banks’ possibly falling into distress.

Although, the report emphasised that none of the affected banks was “in imminent danger of collapsing,” a source at the Central Bank of Nigeria (CBN) told www.gongnews.net that the regulatory bank’s action was meant to pre-empt any bank collapse in the near future.
The worst hit bank is Skye bank which is facing a serious level of distress that could lead to its total collapse.

The source revealed further that several of the affected nine banks have neglected to maintain healthy capital liquidity levels. As a result, some of the banks were described as tethering on the brink of total collapse making depositor funds remain at heavy risk.

First Bank was also one of the most precarious positions since the bank made several bad loans to two oil tycoons, Jide Omokore and Kola Aluko. The bad loans amounted to N120 billion.

According to our source, the loans were given without any collateral but on the basis of a guarantee by former Petroleum Minister, Diezani Alison-Madueke, that both businessmen would enjoy strong state patronage in the oil industry in the form of production sharing agreements with the Nigerian National Petroleum Corporation (NNPC).

First Bank recently changed its chief executive as the bank tries to revamp its operations.

Our CBN source disclosed that these nine banks were involved in what is referred to “reckless loan practices.”

The CBN report “is not meant to create a panic in the banking sector but the facts needed to be stressed for some rescue mission to be undertaken to save the nation’s financial system from a catastrophic danger hanging in the air, adding that the capitalisation order to certain banks was to avoid the recurrence of the 2010 banking crisis that saw Nigeria giving banks a huge bailout.

The CBN source said the creation of the Treasury Single Account (TSA) also led to further stress in the banking sector as most of the banks merely served as purveyors of stolen government funds or illegally stolen fund deposits that were diverted from government accounts.

The source said the latest approach announced by the CBN pushing down interest rates were all proactive and pre-emptive measures to prevent a total calamity in the Nigerian banking sector.
- See more at: http://www.gbam.tv/business/sterling-skye-uba-six-other-banks-stressed-unsafe-%E2%80%93-cbn#sthash.aQLgZ5W6.dpuf

Rubbish speculation. Op you will be held responsible if anything happens to those banks. Foolish nairalander.

Liar remove UBA from that list abeg

Mynd44 this is total junk journalism...please delete this thread for spreading false news

No credible link, op just want to start the spread of panic in the banking system. You should be traced, arrested and if your thesis is not good enough to prove your write-up should be given three years free rent in kirikiri to resuscitate your nearly collapsed brain dead modular oblongata

Old and outdated post. Since 2015