The governor of Central Bank Nigeria (CBN) Mr Sanusi Lamido Sanusi, on Friday came heavily on Nigerians whose names appeared as debtors on the list of borrowers of non-performing loans in the eight commercial banks, saying some of them deserved to be shot.

He gave them several knocks, describing them as people of little or no value system, and saying there was the need for reorientation on the Nigerian value system generally.

The CBN had in August sacked three CEOs of banks. The banks whose CEOs had to go later included Bank PHB, Spring Bank and Equitorial Trust Bank after the earlier sacked five CEOs, when the banks injected N620 billion as bailout fund into the banks.

The governor, who was the guest speaker at a seminar organised by the Nigeria Economic Summit Group (NESG), went as far as saying they deserved to be shot. “How do you describe securing a loan of N45 billion with a collateral of N5billion? If not for law, some of them should be tied to a stick and be shot.

“Why should people complain of minor inconveniences for publishing their names in the newspapers? If anybody is aggrieved, let him or her go to court. He that should come to equity must come with clean hand. If there is any bank where I borrowed non-performing loan, they should name it and shame me and that is the only way to move the system forward,” he said.

Sanusi noted that his mandate was to manage the nation’s banking system, so as to survive the global financial crisis. He added that depositors and creditors must be protected and the concern of the shareholders should also be taken care of.

The apex bank governor stressed that there were consequences and challenges all over the world and anybody whose finger was burnt in the process would not be spared.

He added that the problem of the financial sector generally was self inflicted and “our people do not want to be realistic, that is why they said the Nigerian economy is immune to the global financial crisis; and I don’t know why people cannot take bad news. There are problems in our banking system and we must face it.”

Speaking further, Sanusi said the apex bank would soon go to the next stage of recapitalisation, saying the institutions would soon be stabilised and become the bride of Nigerians. He said there was no failed bank where the rich run away and the poor lose their money, but a system that is being ruled with corruption embedded in political and ideological atmosphere.

He disclosed that “it is not a secret that Bank PHB or Habib Bank was set up by the family of the president. The family is just a shareholder in the bank. But the president said what we did to others should be done to the bank too. That should be seen as a commitment to principle.” He noted that his (Sanusi) actions are backed by political will, saying the apex bank is committed to the common year end and “as Nigerians, we need to identify our problems and solve them”

He debunked the insinuations in certain quarters that he was running a northern agenda, saying “Mr Lemo is from Ogun State and he is part of the decision, why couldn’t he raise an eyebrow when the decision was made? The question is who can say the non-performing loan did not exist? If I really have northern agenda, I will have allowed the affected banks to go under and tell Nigerians that we did that because they (the banks) told lies. The decision we took on August 14 was to say that the banks were in grave situation. There is no fundamental human right in regulation. The issue is fair hearing because the banks were run not in the best interest of the public.”

http://www.tribune.com.ng/24102009/news/news3.html

I wish I could shoot Yinka Bassey dead too.

This is Boko Haram mindset in action.
What kind of CBN Governor is this??

The law of karma will soon catch up with him. He is on borrowed time.

@ PapaBrowne

What type of Naira Haram comment is that? I am sure you don't have shares in any Nigerian Bank.

I think i can relate with him, but the manner with which he presented his grieviance against the debtors was rather harsh!

Not all the debtors except those who intentionally refuse to service their loan(Shareholder's money),because those business moguls use bank loan to finance projects

citizenY:

@ PapaBrowne

What type of Naira Haram comment is that? I am sure you don't have shares in any Nigerian Bank.

Can you please explain to me how issuing of loans becomes a crime punishable by death penalty??
Only someone with a Boko Haram mindset would ever think like ttha.

I lost loads in the stock market but I'm not complaining because when the goin was good, I enjoyed loads also.

@papabrowne

Which <collateral>~ did Atuche give before he <obtained> the Ugandan bank?
Which collateral did those accused give before they collected the loans.
Did the Bank MD's also give collateral before siphoning money.
Your fortune was at their whims and caprices and you know know why and how.
Sorry for the loss, May the Almighty give you better times, Amin.

Sanusi did not choose his words and the reporters, in thier usual mischief decided
to make sensational headlines. I think

Sanusi is not a smooth talking politician but leave those bank debtors had bad plans for us all.