If i must understand the whole debacle, is that Soludo is under fire for giving out some loans to these banks.
ok then what about the N100 billion given to each of the affected banks by Sanusi?

is he not just riding the same boat? then why all the noise?

That's is politics for you.

Does it matter?
Soludo has to go down; whether right or wrong.

This is Nigeria.

babaearly:

If i must understand the whole debacle, is that Soludo is under fire for giving out some loans to these banks.
ok then what about the N100 billion given to each of the affected banks by Sanusi?

is he not just riding the same boat? then why all the noise?

Unlike the loan Soludo gave them in hush hush, this time the banks must recognize their loss.

nuzo:

Does it matter?
Soludo has to go down; whether right or wrong.

This is Nigeria.

I guess it is just a cycle.
Anyone that has been in power for a while and let go, must be ridiculed or go down, why is that?
i am not saying Soludo was a saint, but he changed the banking system in Nigeria

Fhemmmy:

I guess it is just a cycle.

I disagree. i think the Federal Gov. is up to something and there are clashes of interest underneath all this. did the banks ask for the government loan in the first place? i think worse days are coming.

babaearly:

I disagree. i think the Federal Gov. is up to something and there are clashes of interest underneath all this. did the banks ask for the government loan in the first place? i think worse days are coming.

Yes they did through the Expanded Discount Window (EDW) and inter bank market. Their high level of borrowing from the inter bank market lead to the CBN to guarantee the loans so that interest rate will not be too high, because the high level of borrowing of this big banks, made it expensive for the small banks to get loan from the inter bank.If Sanusi had left the thing that way the small banks will have gone while the big banks will still be here. And if one or two banks fail, there is a chance others will follow.

There is a reason why Intercontinental was limiting the amount you could redraw from your account and their limit of N10,000 to open an account when others were busy decreasing their amount. What is more desperate than taking pages of newspaper and telling the president to help you recover your money from debtors.

Intercontinental and Oceanic were also increasing their interest on deposit which was not making sense if you look at the market. It might have been good for depositors to get high interest but it was bad for the economy. The big banks could afford the interest (inter and oceanic) while the small will not have been able because they do not have the asset to back it up. Of course customers will have taken their money to the big banks and left the small banks dry, which will have lead to about 2-8 small banks becoming insolvent.

@pos
tertime will soon tell and you question will be answered
No be Nigeria?