What do you think guys, should the the five banks in seeming distress be handed over to foreign investors or to get bailed out by the Nigerian government? Let me get your response. Thanks

Releases Names of Non-performing Debtors
•Guarantees foreign loans, Inter-bank rates crash
By Ayodele Aminu, 08.19.2009

[/b] In what is considered an effort to diffuse the blame on the liquidity challenge in the banking sector, the Central Bank of Nigeria (CBN) yesterday released the names of debtors – mostly shareholders/directors – who secured loans totalling N747 billion from the five banks whose executives were sacked last Friday.
A breakdown of the loans, which are classified as non-performing, is as follows: Oceanic Bank Plc, N278.204 billion or 37 per cent; Intercontinental Bank Plc, N210 .903 billion or 28 per cent; Afribank Nigeria Plc, N141.856 billion or 19 per cent; Union Bank of Nigeria Plc, N73.582 billion or 9.8 per cent; and FinBank Plc, N42.445 billion or 5.6 per cent.
The two biggest debtors to Intercontinental Bank are Ascot Offshore Nigeria Limited through which Henry Imasekha along with three others secured N44.67 billion and Rockson Engineering Limited through which Engineer J.1. Arumemi-Ikhide and his wife secured N36.989 billion.
Oceanic Bank on the other hand, has Notore Chemical Industries Limited, which borrowed N32.392 billion and Rahamaniyya Global Resources through which Abdul Rahaman Musa Bashir got N28.598 billion.
The two principal debtors to Union Bank are Transnational Corp Plc, in which the Director-General of the Nigeria Stock Exchange (NSE), Dr. Ndi Okereke-Onyiuke is a director/major shareholder, which borrowed N30.863 billion on behalf of the company and MTS First Wireless Limited through which Chief Lulu Briggs secured N9.849 billion.
Afribank has Kolvey Company Limited, which borrowed N16.5 billion and Rehoboth Assets Limited through which five of the Ajaegbu families got N28.598 billion.
The two key debtors to FinBank are Aquitane Oil and Gas which borrowed N3.656 billion and Falcon Securities through which it’s Managing Director, Peter Ololo, who is currently cooling off with the Economic and Financial Crimes Commission (EFCC) in Abuja secured N3.49 billion.
Meanwhile, the banking watchdog has said it would guarantee all foreign loans and correspondent banking lines to the five banks bailed out last Friday in a N420 billion rescue package.
In a statement, the CBN said it would soon organise a road show in London to explain its actions to investors and correspondent banks.
The banking watchdog explained that its action was aimed at strengthening the financial condition of the affected banks and to ensure the protection of depositors and creditors funds.
It also reiterated its commitments to ensuring the stability of the banking industry, stressing that it “will therefore not allow any bank to fail”.
In another development, inter-bank lending rate, which largely determines interest rate or cost of borrowing in the domestic economy, crashed last Monday.
Market operators attributed the crash to the N420 billion bailout package injected into the five undercapitalised banks last Friday by the banking watchdog.
THISDAY gathered that some of these banks – anticipating that they may not need the funds immediately – decided to play at the inter-bank market to earn some income.
Further investigations revealed that several billions of naira from the July Federation Account - that was posted to some banks yesterday, also had a dampening effect on the inter-bank market - where banks borrow funds from one another to meet their immediate needs.
THISDAY checks at the inter-bank money market yesterday indicated that banks lent to one another at a highly reduced rate with over night funds, which traded at 18 per cent per annum last Monday morning, falling to 9 per cent yesterday.
Ditto for call money, which dropped to 9 per cent after trading at 19 per cent.
Seven-day funds was 13 per cent compared to the earlier prevailing rate of 6.67 per cent; 30-day at 6 per cent compared to 22 per cent, while Open Buy Back (OBB) funds, which depended on the CBN’s Monetary Policy Rate, fell to 6 per cent from 8 per cent.
Inter-bank lending had tightened despite the fact that the banking watchdog reviewed some of its lending guidelines few weeks ago in a bid to boost liquidity and moderate interest rates in the economy.
The measures, which are geared towards injecting liquidity into the market, allow free use of Federal Government bonds as instruments for repo transactions with the CBN for tenors not exceeding 90 days.
The CBN also removed the restrictions it placed on the use of funds obtained from any of its lending windows for placement at the inter-bank market.
In the financial parlance, repo (Repurchase Agreement) is the sale of securities for immediate payment and the commitment by seller to buy the securities at a later date under an agreed term, while discount window is the outlet through which the CBN grants standing facilities and outright advances to the deposit money banks and discount houses.

MrCrackles:

I am shocked at the level of financial burden on Aquitane's head!
Damn those dudes are mouthy, now the lid has been blown open!!

Good so you too realise they are mouthy