If You Are An Account Holder Of Any of The Five Banks What Will You Do?

I was shocked and surprised when i saw the headline of all the dailies of the sack of the CEOs of Intercontinental Bank, Oceanic Bank, Union Bank, Afribank and Finbank as a result of their fraudulent practise.

If I'm an account holder in any of the bank,that will be the end.I will close my account immediately with the bank.  If top officials of these bank can involve in such unethical practices what then do you expect from others?

What will be your action if you are an account holder in any of the bank?

Nothing.

Nothing. There is no point starting a run on the bank now. Panic withdrawals will do more systemic harm than good.
The CBN has already made move to shore up the capital of the affected bank.
Besides, the other banks you may want to go to, do you know what may happen to them?

Or would you prefer to keep your money under your pillows?

I'll over-draw on my acct. or beta still, i'll seek a loan 4rm 'em so dat i can add 2their portfolio of non-performing loans.

[b]WITHDRAW/RETRACT [/b]infact [b]EJECT/EVICT/EVACUAT[/b]E my money with immediate effect. . . .

Nothing. CBN has already pumped some huge amounts of money into tose banks to keep them afloat. therefore, there is no cause for alarm

Its

kokoA:

Nothing.

, short and precise, Ive got a salary account with Inter Continental Bank and I'm still breathing normal,
"no cause for control,everything is under alarm Ok?"

The devil you know is better than the saint u do not know.The banks now have full FG/CBN support,therefore no cause for alarm.I still have some millions in one of the banks and I have been transacting my normal business without any hitch.

In fact I feel more comfortable now since i know the bank I am dealing with.I have a feeling that banks that escaped were just very smart!

matiltom_d:


, short and precise, Ive got a salary account with Inter Continental Bank and I'm still breathing normal,
"no cause for control,everything is under alarm Ok?"

salary account how much is that

Doyin!:

I still have some millions in one of the banks and I have been transacting my normal business without any hitch.

now thats more like it

@Topic
Nothing!.
Infact,they should be happy for the bail out.

Marymos:

If You Are An Account Holder Of Any of The Five Banks What Will You Do?

I was shocked and surprised when i saw the headline of all the dailies of the sack of the CEOs of Intercontinental Bank, Oceanic Bank, Union Bank, Afribank and Finbank as a result of their fraudulent practise.

If I'm an account holder in any of the bank,that will be the end.I will close my account immediately with the bank. If top officials of these bank can involve in such unethical practices what then do you expect from others?

What will be your action if you are an account holder in any of the bank?

young man what is your intention?why this kind of topic?
do u want people to panic?

Its a dicey situation though I dont have an account in any of the affected banks butb shareholdings and the fact that NSE has placed them on technical suspension gives me some relief.

This message was posted on the website of the Nigerian Home-Invasion Asset Redistribution Authority.

"  All major Nigerian banks are in danger of imminent collapse, please withdraw all your money and keep it under your bed at home. "

Why shuld we withdraw? There is no cause for alarm since d CBN is in control. So u wnt to tel me dat their staffs shuld start looking for another jobs?. Listen,those banks are nt collapsing and am hapy dat it was discoverd earlier b4 d becom liquidated.

Don't you read the papers?There's no cause for panic CBN has already injected $400 billion into these banks.So you don't have to worry

@jakumo, so dat u can go and rob them ehh !

Its easy to say when u dont have N20 Million in Intercontinental,

My money is with Zenith thats why am chilled although i have some small kishi for intercontinental.

if am have an account with them I will surely withdrawn all my money and close the account. This is not a matter of CBN given some money to them. This week, the new management of Intercontinental Bank claims that there is no problem. But it is a known fact that this member of the new board are there when Intercontinental Bank withdrew N2,500 from every Current early this year, claiming that is for maintenance, I dont know when the bank account become a car engine that need maintenance. It is now painful to know that the money for all customers holding current account in intercontinental bank is used in this type of mess. I pray I dont have one but I have friends among their customers affected. I will say that all customers should remove their money until Intercontinental bank wish or prefers to deposit the N2,500 back to each account it not may be Next January it will be N10,000 from each current and N2,000 from each savings account

econsult:

Don't you read the papers?There's no cause for panic CBN has already injected $400 billion into these banks.So you don't have to worry

look at you. are you as dumb as you look. you are the one that needs to read the papers, you lowsy illiterate. it says 400b naira not dollars. oh God, deliver me from this bunch.

absolutely nothing. any penny you have with any of these banks is safe. mass withdrawal will not solve a problem that is not. rather it will create problems not just for these five, but others.

MrCrackles:

I dont think they should do anything. . . . .
Depositor's funds are pretty safe, simple as that!

Not when the guaranteed limit is set at N50K (so i heard on this same nairaland)

i think you should seriously consider your position with these BANKS

I dont think depositors funds are affected.

There is no cause for alarm. Running to the bank to withdraw all your money will only aggravate the problem. Everything is being done to make sure that depositors are protected.

Fellow landers why are we laying emphasis on INTERCONTINENTAL bank alone . What about the other 4 or are we saying that the other ones are ok.

IF I AM AN ACCOUNT HOLDER WITH ANY OF D FIVE BANKS THAT THEIR CEOS HAVE BEEN SACKED,I WILL WITHDRAW ALL MY MONEY OUT OF D BANK.THOUGH CBN HAS PUT IN #400 BILLION NAIRA,STILL I WONT FEEL SECURE WIT THESE.

its actually depend on the size and motive of your funds in those banks. believe me, if you have your life savings; all you ve worked for or money that keeps your business and home going, your best bet is to move to where at least the regulators have said is safe.

certainly, there would be a run on  the banks. customer would shift, this would affect the cash flow in the short run but later stabilize with the bailout money. stabilization would only happen after  a bit of confidence is restored and the banks resume provision of loans/credit. this is necessray to attract both old and new customers.

then the banks will have to put a good risk management structure in place.

puskin:

I'll over-draw on my acct. or beta still, i'll seek a loan 4rm 'em so dat i can add 2their portfolio of non-performing loans.

lol,
, you can bet there's an embargo on loans and overdraft in most bank now,