mikeansy:

I honestly don't know who convicted this management as corrupt

I don't know which court did that.

so the determination of cooked books is now a judiciary matter? It is now lawyers (and not the CBN) that would determine if a bank's books are in order or if loans are being reported erroneously.
The management were found guilty of sharp practices by the CBN, hence their removal. It is not a judiciary matter.

ACHOJAH:

During consolidation, Bank of the North owed N43 billion, Soludo allowed debt cancellation to allow BON merge into the UNITY bank group.

-UNITY bank has not published its account since consolidation !!
-UNITY bank and has more non-performing loans than any other bank in Nigeria.
-UNITY bank was bailed out to the tune of N70bn, yet their MD was not sacked.

Sanusi why have you ignored UNITY bank?

Ignored? has unity been said to be excluded from the audit? All 24 banks are said to be slated for auditing.
The 10 banks already audited are Oceanic, Afribank, Union, FinBank, Intercontinental, FBN, UBA, Diamond, GTB and Sterling
Yet to be audited are Access, Citibank, Ecobank, Equitorial Trust, Fidelity, FCMB, Platinum Habib, Skye, Spring, Stanbic - IBTC, Standard Chartered, Unity, Wema, and Zenith Bank Plc .
Audit of 11 of these banks are set to have commenced and should be concluded by the end of the month.

Sunny_bobo:

I still ask the following questions;

1) why the rush?

2) Why didn't he wait for the audit of the 24 banks to be completed?

3) is he not giving undue advantage to the banks yet to be audited?

Why is it a must to wait for the audit of all 24 banks?

What undue advantage are you referring to?

SapeleGuy:

Wirinet - There is no country where fraud does not exist. That fear should not stop Sanusi from say gauranteeing the first 10 million naira in all deposit accounts. Let him see how it was done in England.

I guess you have more economic info and know more about economics than the CBN governor for you to know what he shoulld have done.

He should guarantee the first 10m for everyone? Can you please show me your calculations of how much that would amount to and how it is realistic?

SapeleGuy:

Is it really worth it that international banks are no longer honouring letters of credit from nigerian banks. On that score alone his policy has failed. How long will it take for that confidence to return?

So because you want continued letters of credit, you would let activities that can cause a system breakdown continue?

SapeleGuy:

The truth is EFCC can not make these people pay unless they are taken to court? You cannot have selective application of justice. If we are to move forward let us be fair and consistent. Mark my words you will begin to see businesses collapse as a result of this.

My understanding is that those being arrested and being asked to pay back are those that obtained loans through suspected fraudulent means. Or is that wrong?

@Bombay,


It's a pity. My six year old niece can spell better than you. How did you ever manage to get a job in a bank?

For your information, it's "stark" not "stack".

And what the heck is Islamatized?

slowpoke. 

ACHOJAH:

During consolidation, Bank of the North owed N43 billion, Soludo allowed debt cancellation to allow BON merge into the UNITY bank group.

-UNITY bank has not published its account since consolidation !!
-UNITY bank and has more non-performing loans than any other bank in Nigeria.
-UNITY bank was bailed out to the tune of N70bn, yet their MD was not sacked.

Sanusi why have you ignored UNITY bank?

Proof/source please.

See my signature.

biina:

so the determination of cooked books is now a judiciary matter? It is now lawyers (and not the CBN) that would determine if a bank's books are in order or if loans are being reported erroneously.
The management were found guilty of sharp practices by the CBN, hence their removal. It is not a judiciary matter.

Dis bina guy u dey try for sanusi well well o. I fear u I swear.

First I want you to know that some of us opposed to sanusi's acts so far do not have anything personal against him. I for one do not have any special sympathy for the sacked CEO's either.

Yes the determination of cooked books is not a judicial matter, however I hope you are not saying that there are'nt procedures for doing so. It is purely lawlessness for the CBN to feel that whatever they do or say cannot be appraised on the basis of fairness and norms of such oversight functions worldwide. In accounting even meagre issues like depreciation can lead to serious debates amongst professionals , not to talk of determination of loan status.

The point is a even if the sacked CEOs are guilty (though i feel almost all bank CEOs in nigeria  are), a poorly executed task by the CBN will leave the financial system weaker and everybody suffers. Then even the  CBN will have serious credibilty battle on its hands.

I will not call for the removal of sanusi just for this seeming error , however no matter how honest his intentions are , it will take require a glaring rape of fairness for the courts to uphold his actions.

Sagamite:

My understanding is that those being arrested and being asked to pay back are those that obtained loans through suspected fraudulent means. Or is that wrong?

So you no sabi de matter? Dem no talk 'fraudulent means', nah 'non performing' dem talk. I don check your signature, mek you use common sense first before you dey pursue facts with intellectuals and arm chair critics!

na_so:

Dis bina guy u dey try for sanusi well well o. I fear u I swear.

First I want you to know that some of us opposed to sanusi's acts so far do not have anything personal against him. I for one do not have any special sympathy for the sacked CEO's either.

Yes the determination of cooked books is not a judicial matter, however I hope you are not saying that there are'nt procedures for doing so. It is purely lawlessness for the CBN to feel that whatever they do or say cannot be appraised on the basis of fairness and norms of such oversight functions worldwide. In accounting even meagre issues like depreciation can lead to serious debates amongst professionals , not to talk of determination of loan status.

The point is a even if the sacked CEOs are guilty (though i feel almost all bank CEOs in nigeria  are), a poorly executed task by the CBN will leave the financial system weaker and everybody suffers. Then even the  CBN will have serious credibilty battle on its hands.

I will not call for the removal of sanusi just for this seeming error , however no matter how honest his intentions are , it will take require a glaring rape of fairness for the courts to uphold his actions.

Those bank executives are gone permanently

It is not about defending Sanusi, but rather defending a move to help clear the system of some of the rot.
People argue that Sanusi acted wrongly and did not follow due process, yet none have come forward to present the alternate approach that should have been taken given the facts of the case.
Some even say he is acting out a script.

People should read the CBN address, follow the events and actions carried out by the CBN, instead of coming online to make less informed contributions.

For example, a common arguing point for the anti-sanusi is that he should have waited till he completed the audit of all 24 banks. The question then is: why?
The flow of event was
1. Based on activities in the EDW, five banks were suspected of having liquidity issues. Their actions in the interbank market was putting the entire sector in grave danger (they were borrowing from other banks and weren't able to pay back. The EDW debts are guaranteed byy the CBN)
2. An audit of these banks was initiated to determine the true state of things
3. Early discoveries showed that not only were the suspicion of illiquidity true, the filings of the banks were not a true reflection of their condition (i.e. they have been doctoring their books)
4. If properly accounted, the losses of the 5 banks had all but eroded the shareholders funds and they needed capital injection to meet the minimum CAR requirements
5. The audit was thus expanded to all 24 banks, of which 10 banks, including the confirmed detractors, were processed in the first batch.
6. The results of the audits was acted upon and led to the sacking of the executives of the said banks, and CBN shoring their capital base for the interim
7. 11 banks are currently being audited in the2nd batch with reports expected at the end of August.

So should he have left those bank who were clearly baneful to the sector? and let them continue their actions for the next 2-3 months pending completion of the audit? giving said  executives more time to derail the process?
or should he have simply suspended them from the interbank market, pruning them from others.? resulting in depositor panic and essentially killing those banks?

Let the naysayers please tell us what should have been done differently.

I have nothing against anyone criticizing Sanusi (as no one is perfect), but I would rather one does it from an informed point of view, and not just cos of some ethnic bias or simply for the sake of it.

Every day you people come here blabbing about the need for a Revolution. Now someone takes the bold step to get rid of some miscreants who were leading us down to ruin and you people are criticizing him. Would you rather wait until the banks
You Nigerian sicken me with your petty paranoia.
As my friend Chxta says, "The South says the banking reforms is a northern agenda against the south. The North says Civil service reforms is a southern agenda against the North. With this kind of mentality, how do we progress in Nigeria?"

ACHOJAH:

So you no sabi de matter? Dem no talk 'fraudulent means', nah 'non performing' dem talk. I don check your signature, mek you use common sense first before you dey pursue facts with intellectuals and arm chair critics!

Abegi, the request to you is to provide your proof on your allegations against Unity Bank.

Abi you just hope we will chop it and propagate the rumour because it came from you?

Where is your proof?

Biina - you and others are right that this shouldn't be an ethnic issue. For me the issue is the legality or lack of it and wanton disregard for due process.

The alternative approaches are:
1 He should have given the banks the opportunity to recapitalise or reach the CAR requirements by XX date.  
2 Guarantee customer deposits to a sensible amount, currently NDIC does so to the tune of N100,000 per account - a derisory amount.
3 Recommend that a financial regulator (totally independent) is set up, similar to the FSA in the UK.

Sanusi & EFCC - Have acted the role of judge, jury and executioner. CBN should publish all the audit reports so we know they are behaving in an open and transparent manner.

How could he sanction the use of a list that is 3 months out of date for an issue of such magnitude to our nation. Very sloppy indeed.

Sagamite:

Abegi, the request to you is to provide your proof on your allegations against Unity Bank.

Abi you just hope we will chop it and propagate the rumour because it came from you?

No, I no fit try am - you be intellectual.

Anyway:
1- On the N70billion bailout - Akeem Adebayo talk am for Vanguard see the link. http://allafrica.com/stories/200908200366.html

2- You don already tell us say legitimate and hard working naija business people no suppose get letter of credit because Sanusi dey work. I beg make you read this article and then think why Unity Bank never submit papers for years?
http://fortuneandclassmag.com/?p=851

As Oyibo talk "In the interest of healthy debate" - mek you sef bring evidence come disprove wetin i write - I dey wait.

u no even fear to say that amount, or u bi bill gate

ACHOJAH:

No, I no fit try am - you be intellectual.

Anyway:
1- On the N70billion bailout - Akeem Adebayo talk am for Vanguard see the link. http://allafrica.com/stories/200908200366.html

2- You don already tell us say legitimate and hard working naija business people no suppose get letter of credit because Sanusi dey work. I beg make you read this article and then think why Unity Bank never submit papers for years?
http://fortuneandclassmag.com/?p=851

As Oyibo talk "In the interest of healthy debate" - mek you sef bring evidence come disprove wetin i write - I dey wait.

I hope you know the so called Akeem Adebayo is an internet user living in Ireland not a journalist who wrote letters to Nigeria newspaper. The same letter was also published in the Tribune, Guardian, punch, etc.

And if Unity had received N70bn, how come Souldo never mentioned it publicly? He mention the EDW (expanded discount window) publicly.

See i dreamt that nigeria will be sold out and we will suffer for our life, i want us to stand like a real man and make war over this corrupt chickens they call their self politicians

SapeleGuy:

Biina - you and others are right that this shouldn't be an ethnic issue. For me the issue is the legality or lack of it and wanton disregard for due process.

The alternative approaches are:
1 He should have given the banks the opportunity to recapitalise or reach the CAR requirements by XX date.  
2 Guarantee customer deposits to a sensible amount, currently NDIC does so to the tune of N100,000 per account - a derisory amount.
3 Recommend that a financial regulator (totally independent) is set up, similar to the FSA in the UK.

Sanusi & EFCC - Have acted the role of judge, jury and executioner. CBN should publish all the audit reports so we know they are behaving in an open and transparent manner.

How could he sanction the use of a list that is 3 months out of date for an issue of such magnitude to our nation. Very sloppy indeed.

1. They had the opportunity to get their act together since October, that is why Soludo opened the EDW for them.

2. How can you guarantee more money in banks that are cooking their books, lack of transparency, lying about there exposure to capital and gas sector when the capital market crashed and oil prices dropped.

3. Does it matter if there is a different regulator? The U.K economy still went South so did the U.S that has no independent regulator. what is needed is an improved regulator (independent or not) doing their job.

SapeleGuy:

Biina - you and others are right that this shouldn't be an ethnic issue. For me the issue is the legality or lack of it and wanton disregard for due process.

so where is the illegality, and the due process that was ignored?

The alternative approaches are:
1 He should have given the banks the opportunity to recapitalise or reach the CAR requirements by XX date.  

The banks have not been penalized. The CBN has only sacked the erring executives, and put an interim management in place. Or should said management have been left in place?
The said banks had earlier been given an opportunity by Soludo when the EDW was created in October 2008. The result was that the 5 banks only ended up taking more loans from other banks, making them responsible for 90% of the outstanding debt in the EDW by July 2009.

2 Guarantee customer deposits to a sensible amount, currently NDIC does so to the tune of N100,000 per account - a derisory amount.

The CBN does not insure deposits, that is the job of the NDIC. It has done that which is in its power by injecting capital into the banks to shore up their reserves.
To increase the deposit guarantee level would require having a clear view of the sector and weighing the ramifications of such levels of exposure to the FG.
You cannot increase the deposit levels and then have banks failing left and right.

3 Recommend that a financial regulator (totally independent) is set up, similar to the FSA in the UK.

That is a long term move that would require planning and involvement of both the executive and the legislative arms of government. Moreover, while it may be a good long term move, it does nothing to address the current problems revealed by the audit.

Sanusi & EFCC - Have acted the role of judge, jury and executioner. CBN should publish all the audit reports so we know they are behaving in an open and transparent manner.

The CBN has removed executives, who have mismanaged the banks into insolvency and have doctored the books to hide it. That is their job as a supervisor of the sector. They are the judge, jury and executioner. You can fault the BOFIA that empowers them as such, but do not fault them from acting within the scope of their authority.
The EFCC is currently investigating the matter to determine if criminal charges need to be brought against any party. They are not acting as judge, jury or executioner.

How could he sanction the use of a list that is 3 months out of date for an issue of such magnitude to our nation. Very sloppy indeed.

The list was not used for sacking of the executives. They were sacked because the audit revealed that they had mismanaged the bank into insolvency and doctored the books to hide the truth.
The list is being used in the debt recovery bid and details non-performing loans (i.e. loans that were not being serviced as required). The time lag of 3 month is fully acceptable, as the loans have been neglected for substantially a longer periods (possibly years before being classified as non performing) and thus there is no need to expect that a loan that has not been paid in the last 2yrs is now fully reconciled. I expect an updated list to be published in due time.

ACHOJAH:

Anyway:
1- On the N70billion bailout - Akeem Adebayo talk am for Vanguard see the link. http://allafrica.com/stories/200908200366.html

Good job. Probably the only solid and cohesive argument I have seen so far in regards to some hidden agenda. Although I think the second half of it is just conjectual.

But correct me if I was wrong:

1) Is the N70bn not linked to the debts pre-existing before the merger and granted so that the merger can go through? Was it not even Soludo that granted it?

2) Secondly, is there not a fundamental difference in being bailed out and continue business successfully, and being bailed out continously and still be failing in being able to operate normally?

ACHOJAH:

2- You don already tell us say legitimate and hard working naija business people no suppose get letter of credit because Sanusi dey work. I beg make you read this article and then think why Unity Bank never submit papers for years?
http://fortuneandclassmag.com/?p=851

If you look closely at my quote, I did not question you on this because I gave you a benefit of the doubt that even you would not put something as verifiable as this in an argument. I only questioned the 2 that appeared conjectual.

ACHOJAH:

As Oyibo talk "In the interest of healthy debate" - mek you sef bring evidence come disprove wetin i write - I dey wait.

I am just waiting only for your proof that Unity Bank has the highest proportion of non-performing loans.

Niggers are gonna bankrupt Niger-ia thru bank failures for future foreign domi and klepto rule establishment.

5 banks use only N100bn of CBN’s N420bn

Headlines Sep 10, 2009 By Omoh Gabriel, Business Editor



LAGOS — FOUR weeks after the Central Bank (CBN) sacked the chief executives and executive directors of five banks and injected N420 billion into the banks, Vanguard can authoritatively disclose that the banks needed just N100 billion financial assistance to stabilise their operations and not the whooping N420 billion injected by the apex bank.



Already, some bankers are saying the CBN blew the situation out of proportion to achieve a desired end.
Bank treasurers yesterday told Vanguard that “the five troubled banks did not, after all, need the size and volume of bail out injected by the Central Bank of Nigeria, CBN, allegedly to stabilise their operations.”

All the banks, according to them, have stabilised in both the interbank market and clearing house.
According to treasurers who volunteered information “Out of the N400 billion injected by the CBN into the five banks, the banks have used barely N100 billion on the whole.”

Of the five banks, Oceanic is said to have utilised the highest after using N50 billion out of the N100 billion the CBN injected into it.
Intercontinental Bank, Vanguard learnt, used N32 billion out of the N100 billion injected into it.

Similarly Union Bank is said to have utilised just N16 billion out of the N120 billion injected. Afribank and Finbank had N50 billion each and have not utilized up to 5 per cent of the fund injected.

Bank treasurers point to the fact that even the portions so utilised were precipitated by the undue pressure on the banks following the CBN action of August 14.


“The funds so far used out of the amount injected by the CBN represents about 25 per cent of the total bail-out fund and the amount has so far actually stabilised the banks,” a banker said.


Bankers also say that what the bailed out banks are currently doing is using the fund to play in the interbank market where banks lend to one another.


According to them, the N100 billion the banks have used is also the same amount the CBN used to print the N420 billion bail-out fund. Banking insiders are of the view that the true situation of the banks was blown out of proportion by the CBN to prepare the ground for the take-over of the affected banks.


It will be recalled that on August 14, the CBN Governor at a world press conference in Lagos said the CBN was “injecting N400 billion as tier two capital into the five banks to salvage their financial condition”.
According to him, “the huge provisioning requirements have led to significant capital impairment. Consequently, all the banks are undercapitalised for their current levels of operations and are required to increase their provisions for loan losses, which impacted negatively on their capital.


Indeed one is technically insolvent with a Capital Adequacy Ratio of 1.01 per cent. Thus, a minimum capital injection of N204.94 billion will be required in the 5 banks to meet the minimum capital adequacy ratio of 10 percent” but he injected N400 billion.


“The five banks were either perennial net-takers of funds in the inter-bank market or enjoyed liquidity support from the CBN for long periods of time, a clear evidence of liquidity.


In other words, these banks were unable to meet their maturing obligations as they fall due without resorting to the CBN or the inter-bank market. As a matter of fact, the outstanding balance on the EDW of the five banks amounted to N127.85 billion by end July 2009, representing 89.81 per cent of the total industry exposure to the CBN on its discount window while their net guaranteed inter-bank takings stood at N253.30 billion as at August 02, 2009.


Their Liquidity Ratios ranged from 17.65 per cent to 24 per cent as at May 31, 2009. (Regulatory minimum is 25%).”


http://www.vanguardngr.com/2009/09/1, f-cbns-n420bn/
__________________

Sanusi is an IDIOT, he just came, did not even seek advice from people working there, he just wanted to be a public figure, he wanted to be noticed, and his plans are getting clearer by the day,

Do you guys remember Sanusi saying that he would never allow individuals to own banks anymore? That statement underlines his core philosophy, which is some sort of social/islamic engineering where people are deprived of their hard earned wealth overnight. In Russia, I believe that was known as socialism, is that what we want in Nigeria?
People should be allowed to own banks, Universities, big companies, etc, that's what capitalism is all about. Do you want rich Nigerians to take their investments to other countries

What is actualy wrong with the people of northern Nigeria, where is this people leading us to, why is it that any thing that enters into their hands fails, why have these barbaric conquerors made Nigeria a failed nation, Nigeria  practicaly became  the most ridiculuous nation on earth since 1967 it entered into their hands,

I once said on this forum during the appointment of Lamido Sanusi that we are about to have an incompetent CBN governor, some folks here disagreed with me,

After Sanusi's appointment as CBN governor , he immidiately cried foul in the public, telling every one that some Nigerian banks are unhealthy as a result of non performing loans, this lead to the sacking of five banks MDs, this action has kept many Nigerians confused ,with many questioning the competence and much louded performance of the immidiate past CBN governor Prof Chukwuma Soludo, and some others argueing that sanusi's action is simply a northern hostile takeover agenda.

In a bid to revitilise these five unhealthy Banks, Sanusi took over 400 billion Naira and injected into these banks as a bail out excecise, this action and the process was hailed by some common Nigerians while the elite class frowned upon it, the most annoying thing about the action of Lamido Sanusi is that these Five Banks in just less than two weeks after recieving these huge some, has lost about 40% of it's share value, an amount close to 470billion naira, consequently, it means that the bailout money injected into these five banks by Sanusi has vanished in the air,

This lost of 40% value was technicaly caused by sanusi himself, as it was as a result of lost of consumer confidence by custotmers and investors who lost confidence in the banks beacuse they were told by Sanusi that they are unhealthy, if sanusi understood his left from his right, he should have known that crying foul in the public will cause loss of consumers and investors confidence and will destroy the banks than helping it, having cried out, he shouldn't have gone ahead to inject such huge some into the banks , because as it has proven,will be a dead end venture, but it did not stop there, instead of sanusi looking for a more technical way to correct his mistakes, he is presently in a bid of reprinting a new naira note,( an action many have predicted is only made to bring back arabic text on naira notes,) this reprinting excercise will cost us billions, in a time our student are at home as a result of ASUU strike,

As many have wondered, is sanusi acting in good faith ? the truth is that, no matter what he/she does, a public servant is primarily judged by the result of his action, if in about six months of taking office , Nigeria is loosing billions of naira because of sanusi stupid and selfish actions, he is not acting in good faith if he was acting in good faith and in the intrest of Nigerians, he should have kept the matter indoors and go ahead and bail the banks, by so doing, the loss of consumers and investors confidence wouldn't have occured, which is even worse than non performing loans, because even if the banks recover today, they will find it extreemly hard if not imposible to regain consumer and investors confidence.

Then what is sanusi realy up to ?, Sanusi is only trying not to STEP INTO A GREAT MANS SHOE ( as theorised by the Jewish American power theorist and war strategist, Robert Greene, the author of the ground breaking, The 48 Laws of Power)Sanusi is only trying not to get lost in the much louded achievement of Prof soludo, he is trying to forge a new trend of his own making, his own public profile,but Nigerians may ask, is it just in a bid for sanusi to satisfy his ego and amoral mind that nigerians will have to waste Billions of naira, well the answer is that ,That is what you get when you appoint aboki as your CBN governor.

Na wah oh!. Things are really happening in this country   .

For the 1000th time Sanusi is acting out an ethnic agenda. We have been so desperate for change that we are willing to believe anybody who claims they can deliver change without truly questioning their motives.

MrCrackles:

My friend relax and stop convulsing. . .

Great contribution, keep relaxing in diaspora.

banom:

What is actualy wrong with the people of northern Nigeria, where is this people leading us to, why is it that any thing that enters into their hands fails, why have these barbaric conquerors made Nigeria a failed nation, Nigeria practicaly became the most ridiculuous nation on earth since 1967 it entered into their hands,

I once said on this forum during the appointment of Lamido Sanusi that we are about to have an incompetent CBN governor, some folks here disagreed with me,

After Sanusi's appointment as CBN governor , he immidiately cried foul in the public, telling every one that some Nigerian banks are unhealthy as a result of non performing loans, this lead to the sacking of five banks MDs, this action has kept many Nigerians confused ,with many questioning the competence and much louded performance of the immidiate past CBN governor Prof Chukwuma Soludo, and some others argueing that sanusi's action is simply a northern hostile takeover agenda.

In a bid to revitilise these five unhealthy Banks, Sanusi took over 400 billion Naira and injected into these banks as a bail out excecise, this action and the process was hailed by some common Nigerians while the elite class frowned upon it, the most annoying thing about the action of Lamido Sanusi is that these Five Banks in just less than two weeks after recieving these huge some, has lost about 40% of it's share value, an amount close to 470billion naira, consequently, it means that the bailout money injected into these five banks by Sanusi has vanished in the air,

This lost of 40% value was technicaly caused by sanusi himself, as it was as a result of lost of consumer confidence by custotmers and investors who lost confidence in the banks beacuse they were told by Sanusi that they are unhealthy, if sanusi understood his left from his right, he should have known that crying foul in the public will cause loss of consumers and investors confidence and will destroy the banks than helping it, having cried out, he shouldn't have gone ahead to inject such huge some into the banks , because as it has proven,will be a dead end venture, but it did not stop there, instead of sanusi looking for a more technical way to correct his mistakes, he is presently in a bid of reprinting a new naira note,( an action many have predicted is only made to bring back arabic text on naira notes,) this reprinting excercise will cost us billions, in a time our student are at home as a result of ASUU strike,

As many have wondered, is sanusi acting in good faith ? the truth is that, no matter what he/she does, a public servant is primarily judged by the result of his action, if in about six months of taking office , Nigeria is loosing billions of naira because of sanusi stupid and selfish actions, he is not acting in good faith if he was acting in good faith and in the intrest of Nigerians, he should have kept the matter indoors and go ahead and bail the banks, by so doing, the loss of consumers and investors confidence wouldn't have occured, which is even worse than non performing loans, because even if the banks recover today, they will find it extreemly hard if not imposible to regain consumer and investors confidence.

Then what is sanusi realy up to ?, Sanusi is only trying not to STEP INTO A GREAT MANS SHOE ( as theorised by the Jewish American power theorist and war strategist, Robert Greene, the author of the ground breaking, The 48 Laws of Power)Sanusi is only trying not to get lost in the much louded achievement of Prof soludo, he is trying to forge a new trend of his own making, his own public profile,but Nigerians may ask, is it just in a bid for sanusi to satisfy his ego and amoral mind that nigerians will have to waste Billions of naira, well the answer is that ,That is what you get when you appoint aboki as your CBN governor.

nice contribution but must you call him "aboki"?
the irony in all this, is that SLS is the one that approved oceanic banks last end of the yr results and turns back to say that the back is insolvence.
who is fooling who
soludo refused to approve that report till he left.

At least, let him finish eradicating the advance pests (looters) in the banking world b4 we begin spottin on constitutional rights,

Sanusi must go