Ibime:

DEATH!!!

Thread Closed!

Naijaking should now apologise to the house for creating an unnecessary thread.

Ibime, welcome back!
Bye the way, what DEATH?
Have you stooped so low as to have texazzpete interprete written english for you now?
I challenge you to a "reading comprenhsion exam" any day.
You can diddle and doodle about one sentence in the whole article all you want, but please sit down, put on your eye glasses, and read the whole article.
You can do better, I know it. You can do better than texazzpete.

naijaking1:

Ibime, welcome back!
Bye the way, what DEATH?
Have you stooped so low as to have texazzpete interprete written english for you now?
I challenge you to a "reading comprenhsion exam" any day.
You can diddle and doodle about one sentence in the whole article all you want, but please sit down, put on your eye glasses, and read the whole article.
You can do better, I know it. You can do better than texazzpete.

An amusing but unnecessary diversion.
I do love throwing facts in your face. And as Ibime has also pointed out, your post title is plain wrong.
The benign interpretation is that you struggle with written English. The only other possible explanation is that you deliberately set out to mislead the general public into joining your insidious campaign of calumny against SLS.
I've thrown down the gauntlet; you accused Sanusi of being vindictive and schizophrenic. Where is the proof to back up your arguments?
Explain those words instead of trying to cast up diversions.

PS: Instead of challenging Ibime to re-read the article, kindly show us where it says in the article that the fuel debtors are off the CBN list.

naijaking1:

Despite all the changing evidence, you're still out there shamelessly fronting for Sanusi. He told us that some of the banks have more than 75% bad debts, now we know that most of those debts are by the goverment or petrol importers who are being heavily owed money by the same goverment. You're not at all embarrased by this inaccuracy

Here's another challenge for you. Using the CBN debtors' list, show us how 'most of these debts are owed by the Government'.
The fuel importers have accepted that the Government owes them N46 billion. As i've said before, these importers in turn owe the banks over 400 billion naira. Even one as intellectually challenged as yourself can see the clear difference between N46 billion and N400+ billion.

But we digress! it is no business of the CBN Governor or even the bankers if the Government pays or not. If i take a loan from a bank, it is not a matter of concern of my banking officer that my salary gets paid or that i sell my car. All bankers should care about is the loan being serviced as agreed upon.
Without adequate collateral, there's little or nothing the banks can do but to wring their hands in dismay.

I recap. For sanusi and the shareholders in the bank, it does not matter how you get the damn money. Loans should be serviced and loans of that magnitude should have been backed up with sufficient collateral. Naturally, your precious bank CEOs turned the other way.

As Obama used to say about John McCain, "You just don't get it"!

texazzpete:

An amusing but unnecessary diversion.
I do love throwing facts in your face. And as Ibime has also pointed out, your post title is plain wrong.
The benign interpretation is that you struggle with written English. The only other possible explanation is that you deliberately set out to mislead the general public into joining your insidious campaign of calumny against SLS.
I've thrown down the gauntlet; you accused Sanusi of being vindictive and schizophrenic. Where is the proof to back up your arguments?
Explain those words instead of trying to cast up diversions.

PS: Instead of challenging Ibime to re-read the article, kindly show us where it says in the article that the fuel debtors are off the CBN list.

You're not kidding?
I would resist the temptation to cut and paste the sentences for you, instead, I would ask you to read the article again, maybe the light would go off then.

Why should one company service their own loan when others dont have to service theirs?
This is how the govt shot themselves at the foot

texazzpete:

I'm sorry, but those are facts. Is the CBN debtors' list a myth too?
Is it standard banking practice to use shares are collateral for loans?

Yes and whilst you are checking out the smokes and mirrors of investment banking, checkout leveraging and gearing.

naijaking, abeg answer dis simple question if you dey bold enough, a simple yes or no, will suffice. no dribbling or playing with words.

question:

do ceos who can be proved to have approved loans worth billions of naira to companies that they own, deserve to be punished, since the act falls under financial crimes?

if you no fit answer yes or no, just tell us say you no fit answer yes or no!

MrCrackles:

No i think going by the overwhelming responses to your thread against you, you have been left flat out. . . . bite the dust!
Sanusi's allegations are hard facts. . . It is not rocket science or moon mathematics
My friend you are just rambling here. . . .
Challenges being thrown at you left, right and centre are getting buried without you attempting to stand up to them!

Dude, you and one/two other Sanusi protagonists don't constitute the majority, by any stretch of the imagination.
Normal people are just too shocked that you should stand up for fiction and not facts.
Since, Sanusi began giving his facts and reasons for his action, are you the only Nigerian not dismayed by his countless mistakes, retractions, and correction?
Worst of all is his "holier than thou" attitude about his colleagues. He wants some of them shot, and for questinable allegations too.
Sorry, we're not in Sudan, or 1600 Salem, where people were lynched before questions are asked.

Fhemmmy:

Why should one company service their own loan when others dont have to service theirs?
This is how the govt shot themselves at the foot

Thank you, please tell that to Mccrackle, and co.

ndu_chucks:

naijaking, abeg answer dis simple question if you dey bold enough, a simple yes or no, will suffice. no dribbling or playing with words.

question:

do ceos who can be proved to have approved loans worth billions of naira to companies that they own, deserve to be punished, since the act falls under financial crimes?

if you no fit answer yes or no, just tell us say you no fit answer yes or no!

I have told you about your pidigin English giving me a headache, not that I don't want to answer your question.

Anybody; bank CEOs, politicians, civil servants, military and police who commits financial crime should and must be punished. The punishment must be according to the law of the land---forfeiture, jail, hanging, shooting, etc.

However, you have to trial and convict that person in a court of law, not in the court of public opinion because you have the public relation edge, and you must not punish them even before you convict them.

Your question doesn't need a yes or no answer, it needs the answer above.

naijaking1,
you have made a good show of avoiding critical issues and chasing irrelevant shadows.
Sanusi never said he is a saint but the fact grave crimes have been committed and deserved grave actions.
all these attitude of 'are they the only thieves?' and 'Sanusi is not being fair' are diversionary and counterproductive.
I have said it elsewhere Sanusi is fighting a lost battle but with all the thunder he can muster the banking industry needs someone to drive the fear of God into their hearts.
While i agree that Sanusi needs some tact in his delivery,i think the hysteria about him destroying the financial market is laughable at best.
men and women like Cecelia Ibru and Atuche who ran listed banks like corner grocery shops and looted at will while cooking the books did their damnest to destroy the industry and did not need Sanusi's assistance in that regard.

so we should wait for court cases that will drag on for over 3 years while the bank is unable to meet its obligations and the CEOs live like kings and queens while telling us it a result of hard work and God's grace?
do you know that Oceanic had the effrontery to attempt to pay dividends while borrowing billions on a regular basis in the inter bank market?

see Andy Uba is still in court 4 years after Obi's swearing in.is that how long you want us to wait before booting out these crooks?
can you comfortably tell that to depositors and shareholders in that bank?

mbulela:

naijaking1,
you have made a good show of avoiding critical issues and chasing irrelevant shadows.
Sanusi never said he is a saint but the fact grave crimes have been committed and deserved grave actions.
all these attitude of 'are they the only thieves?' and 'Sanusi is not being fair' are diversionary and counterproductive.
I have said it elsewhere Sanusi is fighting a lost battle but with all the thunder he can muster the banking industry needs someone to drive the fear of God into their hearts.
While i agree that Sanusi needs some tact in his delivery,i think the hysteria about him destroying the financial market is laughable at best.
men and women like Cecelia Ibru and Atuche who ran listed banks like corner grocery shops and looted at will while cooking the books did their damnest to destroy the industry and did not need Sanusi's assistance in that regard.

Do you know how much you sound like Sanusi?
Your allegations don't constitute "committed" and "looted", mind your words, or you would end up loosing the respect objective people.

mbulela:

so we should wait for court cases that will drag on for over 3 years while the bank is unable to meet its obligations and the CEOs live like kings and queens while telling us it a result of hard work and God's grace?
do you know that Oceanic had the effrontery to attempt to pay dividends while borrowing billions on a regular basis in the inter bank market?

see Andy Uba is still in court 4 years after Obi's swearing in.is that how long you want us to wait before booting out these crooks?
can you comfortably tell that to depositors and shareholders in that bank?

Ehn! We are not in a dictatorship. The law must run its cause. Why should we regress to the jungle?

You people are citizens of an invisible country.

Beaf:

Ehn! We are not in a dictatorship. The law must run its cause. Why should we regress to the jungle?

Thank you, these guys love Sanusi so blindly that they are ready to short circuit the legal system.
It's only in Nigeria that you "steal" somebody's company or bank, jail him or her, then begin to look for evidence to support your action, then mount an ochestrated public relations campaign to tarnish their images--despite the cases being before the courts, and nobody says anything .
The one who's got things to say are only singing your praises and saying ranka dede

mbulela:

so we should wait for court cases that will drag on for over 3 years while the bank is unable to meet its obligations and the CEOs live like kings and queens while telling us it a result of hard work and God's grace?
do you know that Oceanic had the effrontery to attempt to pay dividends while borrowing billions on a regular basis in the inter bank market?

see Andy Uba is still in court 4 years after Obi's swearing in.is that how long you want us to wait before booting out these crooks?
can you comfortably tell that to depositors and shareholders in that bank?

Just listen to your baseless argument. So, because the courts take too long, we must circumvent the courts and take the accused to Bar beach straight and shoot them?
I warned you, because folks are going to loose respect for you.

What do you know about shareholders, if you have one single share in any of the banks, you wouldn't be supportive of Sanusi in any way.

thanks for the correction but i'll rather sound like Sanusi than sound like Akingbola.
on a different note,let me know the basis of your argument (if you have one),that the facts as it concerns the borrowings of Intercontinental,Oceanic and Finbank from the interbank and CBN are the figment of Sanusi's imagination or that these banks were not grossly overexposed with none performing questionable loans while indulging in frivolities like buying jets and all sorts?
you have not exhibited any objectvity in your cases.you are simply wiping up porly thought out emotions.

mbulela:

thanks for the correction but i'll rather sound like Sanusi than sound like Akingbola.
on a different note,let me know the basis of your argument (if you have one),that the facts as it concerns the borrowings of Intercontinental,Oceanic and Finbank from the interbank and CBN are the figment of Sanusi's imagination or that these banks were not grossly overexposed with none performing questionable loans while indulging in frivolities like buying jets and all sorts?
you have not exhibited any objectvity in your cases.you are simply wiping up porly thought out emotions.

But that is exactly why there are courts. To dig out the truth, backed by expertise; not rumour, innuendo and Sanusi's allegations. Courts can test beyond mere words or street knowledge.
If we go Sanusi's route, we might as well sit area boys, alaye's and agbero's in judgement over the bank CEO's. No?

kindly tell me what Sanusi has done that is ilegal?
sacking the CEOs?
appointing new CEOs?
publishing the list of debtors?

what do you mean by rumours?
he gave you concrete figures showing that these banks were living on borrowed times and above their means.
moved in within the confines of the law and you are talking about jungle rule and all that.

mbulela:

thanks for the correction but i'll rather sound like Sanusi than sound like Akingbola.
on a different note,let me know the basis of your argument (if you have one),that the facts as it concerns the borrowings of Intercontinental,Oceanic and Finbank from the interbank and CBN are the figment of Sanusi's imagination or that these banks were not grossly overexposed with none performing questionable loans while indulging in frivolities like buying jets and all sorts?
you have not exhibited any objectvity in your cases.you are simply wiping up porly thought out emotions.

-Peter Odili's company was initially listed as a non-performing account, he complained, and it was re-listed as performing, because he was servicing his account
-Most of the "bad debts" described by Sanusi happens to be from government or govt. backed companies
-Taking loans without collaterals is not a crime, it maybe mismanagement at worse, and good risk taking at best.
-The figures quoted by CBN have continued to be corrected, both by CBN and customers involved-why? No good accountants at CBN?
-Sanusi is on record for saying he doesn't want family or personal banks anymore-----somebody please tell the idiot that some of the best banks around the World are or started as family/personal banks.
-The title article of this threads says it all, Sanusi doesn't think things through. If he does, he would have found out the position of these petrol importers and the goverment.

If I own a small grocery store, I won't hire Sanusi as manager, because he doesn't even exhibit qualities of a successful manager that could make the store survive, but here we have him at the helm of our country's financial future.
Be prepared for more financial disasters.

mbulela:

what do you mean by rumours?
he gave you concrete figures showing that these banks were living on borrowed times and above their means.
moved in within the confines of the law and you are talking about jungle rule and all that.

Like many northerners, Sanusi is a better politician than a banker. The "concrete figures" he's showing around are nothing but wrong figures designed to support his action.
The used these concrete figures to warm and paint a false picture of an impending disaster if he was not allowed to continue his efforts to "sanitize" the banking industry, That's what he told the senate, and they believed him, for now.

These concrete figures are false, they are the same figures he used to sack ETB, and now, he's giving back the bank to the owners. His figures are not concrete, they're in rubberized and moldedable according to situation.

mbulela:

kindly tell me what Sanusi has done that is ilegal?
sacking the CEOs?
appointing new CEOs?
publishing the list of debtors?

Commenting on cases before a court of law is prejudicial, illegal
Publishing list of debtors, when you know or should have known that the list was wrong is illegal.
Disregarding the elected board of directors, shareholders, and owners of the banks is illegal---- how would anybody ever invest in Nigeria again?

texas
_{Here's another challenge for you. Using the CBN debtors' list, show us how 'most of these debts are owed by the Government'.
The fuel importers have accepted that the Government owes them N46 billion. As i've said before, these importers in turn owe the banks over 400 billion naira. Even one as intellectually challenged as yourself can see the clear difference between N46 billion and N400+ billion.}



The CBN announced the sack of five bank chief executives on August 14, 2009 over alleged exposure to N1.143 trillion worth of non-performing loans. Of the amount, exposure to the oil and gas sector amounted to N487.02 billion even though most of the debtors  are being owed about N114 billion as fuel subsidy arrears under the scheme of  Petroleum Support Fund (PSF)  by the Petroleum Products Pricing Regulatory Agency (PPPRA).

I dont know where u got N46 billion. I think that naijaking might have some points, SLS is making his cases against these fraudulent damaging directors weaker. SLS should focus on revitalizing these banks instead of running to the media. He's a public official who's not supposed to make unguarded statements. It doesn't matter if takes longer so long as justice is done. You remember Savannah bank vs FDIC. So govt agency  can get it all wrong some times. SLS is there to fix the economy period not being Prof Jerry Gana or Yar'dua's spokesman.
I still want to know why some debtors are getting relief cos these are people's live savings and pensions we are talking about here. Yar'dua a half step forward, 100 steps backward.

Are they off the llist or not

yeah, what do you expect from a govt that has multiple faces?