mayblossom:

who is this snorer?

Is that what you ask your father every morning?

I took my time to read this trend and various comments of most NLDRS and this is my opinion (objective). Let me inform you that I am in a financial institution and knows what operates within Nigeria financial industry and the world (I do not claim to know all but I can boldly say I know much).
Now back to the topic, Sanusi's actions and utterancies are far below expectation and I believe he himself does not realised the sensitivity of the position he occupies. Nigeria is not the only country with bad loan problem, it is a global issue. For lack of time I could have given you list of banks in US and Britain that has such problem and has gone under or bailed out by the authorities.
The simple question we should ask ourselves is "if  anyone approach you for a loan and you know that the person will default in servicing or repayment of such loan will you grant the loan"? In another way "if you are to borrow money for an investment and you know that you are going to run at a loss will you take such loan"? This is the scenario of both the lender and borrower of this bad loan. The borrowers either invest in oil or the stock market and got their hands burnt, while that of oil is as a result of global meltdown the case of stock market was as a result of lack of proper supervision of the authorities which result in price manipulations that could not be sustained when foreign investors pulled out their funds.
WHERE SANUSI GOT IT WRONG.
The best Sanusi could have done is to make the bank pursue aggressive loan recovery/ loan rescheduling so that the situation will be a win-win for the bank and the economy (Sanusi knows this) but instead Sanusi engaged in vendettas moves forgetting that the economy and the masses will be the ultimate loser.
Don't forget that whatever we do today is history tomorrow and events of today can be revisited in the future. BE FAIR TO EVENTS SO THAT HISTORY CAN BE FAIR TO YOU.
This is my personal contributions and not that of any interest group.

omoalare:

I took my time to read this trend and various comments of most NLDRS and this is my opinion (objective). Let me inform you that I am in a financial institution and knows what operates within Nigeria financial industry and the world (I do not claim to know all but I can boldly say I know much).
Now back to the topic, Sanusi's actions and utterancies are far below expectation and I believe he himself does not realised the sensitivity of the position he occupies. Nigeria is not the only country with bad loan problem, it is a global issue. For lack of time I could have given you list of banks in US and Britain that has such problem and has gone under or bailed out by the authorities.
The simple question we should ask ourselves is "if  anyone approach you for a loan and you know that the person will default in servicing or repayment of such loan will you grant the loan"? In another way "if you are to borrow money for an investment and you know that you are going to run at a loss will you take such loan"? This is the scenario of both the lender and borrower of this bad loan. The borrowers either invest in oil or the stock market and got their hands burnt, while that of oil is as a result of global meltdown the case of stock market was as a result of lack of proper supervision of the authorities which result in price manipulations that could not be sustained when foreign investors pulled out their funds.
WHERE SANUSI GOT IT WRONG.
The best Sanusi could have done is to make the bank pursue aggressive loan recovery/ loan rescheduling so that the situation will be a win-win for the bank and the economy (Sanusi knows this) but instead Sanusi engaged in vendettas moves forgetting that the economy and the masses will be the ultimate loser.
Don't forget that whatever we do today is history tomorrow and events of today can be revisited in the future. BE FAIR TO EVENTS SO THAT HISTORY CAN BE FAIR TO YOU.
This is my personal contributions and not that of any interest group.

And how do you think the "aggressive loan recovery/ loan rescheduling" could have been achieved since you felt he he knew it?

omoalare:

I took my time to read this trend and various comments of most NLDRS and this is my opinion (objective). Let me inform you that I am in a financial institution and knows what operates within Nigeria financial industry and the world (I do not claim to know all but I can boldly say I know much).
Now back to the topic, Sanusi's actions and utterancies are far below expectation and I believe he himself does not realised the sensitivity of the position he occupies. Nigeria is not the only country with bad loan problem, it is a global issue. For lack of time I could have given you list of banks in US and Britain that has such problem and has gone under or bailed out by the authorities.
The simple question we should ask ourselves is "if  anyone approach you for a loan and you know that the person will default in servicing or repayment of such loan will you grant the loan"? In another way "if you are to borrow money for an investment and you know that you are going to run at a loss will you take such loan"? This is the scenario of both the lender and borrower of this bad loan. The borrowers either invest in oil or the stock market and got their hands burnt, while that of oil is as a result of global meltdown the case of stock market was as a result of lack of proper supervision of the authorities which result in price manipulations that could not be sustained when foreign investors pulled out their funds.
WHERE SANUSI GOT IT WRONG.
The best Sanusi could have done is to make the bank pursue aggressive loan recovery/ loan rescheduling so that the situation will be a win-win for the bank and the economy (Sanusi knows this) but instead Sanusi engaged in vendettas moves forgetting that the economy and the masses will be the ultimate loser.
Don't forget that whatever we do today is history tomorrow and events of today can be revisited in the future. BE FAIR TO EVENTS SO THAT HISTORY CAN BE FAIR TO YOU.
This is my personal contributions and not that of any interest group.

You mean you work in a bank, and like many of your fellow bankers you cannot see the bigger picture, instead focusing your ire on the 'sanusi tsunami'. Where were you when a new generation bank had to take a full page newspaper advert petitioning the president to help with loan recovery to no avail?
It is shameful that the entire point of your argument is to say that the banks must sympathize with the debtors for unplanned business losses. How is that supposed to work out? Are these not the same banks that mercilessly go on after small scale businesses and enterpreneurs over minor defaults on their loans, yet go soft on their cronies that contribute far less to the NIgerian economy?

We must thank Sanusi for exposing the rot in the banking sector and arresting it in time.

Vendetta or no vendetta, the man might have spitefully taken a rash approach but it takes one inconsiderate devil to kill others. Just like the time of prima donna of Rhibadu who just felt like tomorrow would never come, went on rampage with the delight of being a hired gun, humiliated robbers in the guise of governors and others. Does that mean his victims were innocent? NO. Though its a pity that a lot of innocent staffs are now affected, but let us stop hoping that there wont be casualties in times of war. And what we are going through i the country is economic war, and during war innocent ones die, and always will die and that is the sacrificial part of it this whole quagmire.

Sanusi is God sent and those bankers who are complaining should be grateful to him because some of the banks would have collapsed completely in less than 18 months if Sanusi had not intervened.

Imagine the shameless lies, expensive adverts and media attention and awards these banks were engaged in even when they knew they were cooking their books and in serious need for help.

As regards loans, borrowing money to buy shares is madness and the banks should hide their heads in shame to claim they could offer loans to people who want to buy shares but cannot offer loans to serious business people with ideas and plans to manufacture or produce things in the country.

texazzpete:

You mean you work in a bank, and like many of your fellow bankers you cannot see the bigger picture, instead focusing your ire on the 'sanusi tsunami'. Where were you when a new generation bank had to take a full page newspaper advert petitioning the president to help with loan recovery to no avail?
It is shameful that the entire point of your argument is to say that the banks must sympathize with the debtors for unplanned business losses. How is that supposed to work out? Are these not the same banks that mercilessly go on after small scale businesses and enterpreneurs over minor defaults on their loans, yet go soft on their cronies that contribute far less to the NIgerian economy?

We must thank Sanusi for exposing the rot in the banking sector and arresting it in time.

What are you thanking Sanusi for? that he is the messiah? my friend no dey deceive yourself. Why was the bank of Adenuga given back to him after he was arrested? That tells you that there is preferential partiality and some people are untouchable. The only one you should be thanking is God.

Sanusi is God sent and those bankers who are complaining should be grateful to him because some of the banks would have collapsed completely in less than 18 months if Sanusi had not intervened.

You lost all credibility!

God sent?

@ Afam: There are some things one isnt so sure of, and one is that those banks would have collapsed within 18 months. All these years they didnt collapse so stop that blasphemous talk about Sanusi being God-sent because we havent felt anything positive as a result of the actions he has taken order than the news that our banking ogas were fraudstars , or have you? tell me one?

otawa:

You lost all credibility!

God sent?

You never had any.

Kilonso:

@ Afam: There are some things one isnt so sure of, and one is that those banks would have collapsed within 18 months. All these years they didnt collapse so stop that blasphemous talk about Sanusi being God-sent because we havent felt anything positive as a result of the actions he has taken order than the news that our banking ogas were fraudstars , or have you? tell me one?

18 months is even a lot of time. If UBA that did not have the type of problem the likes of Oceanic and Intercontinental had and it is disengaging staff then it should be clear to you that some of the troubled banks would have gone under in no time.

Were the banks healthy enough to guarantee depositors funds?

Given the situations the banks were prior to Sanusi's appointment and the varied criticisms that trailed his decisions and actions including condemnation. I want all who thinks Sanusi did a wrong thing to begin to tell us what they would have done to salvage the situations if they were in Sanusi's shoes.

Let us know if you really understand the problem and its concomitant complications and how astute you are at proffering workable solution that will prevent the death of these financial institutions rather than mouthing "OBJECTION"

ENOUGH OF PROTESTATIONS AND CURSES, PROFFER YOUR SOLUTION NOW!!!

Thank God for Sanusi my brother's savings are safe and he can sleep well knowing his children school fees will be paid incase of life's eventualities.
Just imagine if Akingbola had taken that bank under, chai ! Heaven forbid ! !

edoyad:

Thank God for Sanusi my brother's savings are safe and he can sleep well knowing his children school fees will be paid incase of life's eventualities.
Just imagine if Akingbola had taken that bank under, chai ! Heaven forbid ! !

I don't understand people o, was there any failed bank? And what makes you think the arrested are the only ones guilty of their punishment? Was there ever a time your brother went to bank and could not withdraw money?

Sanusi, Sanusi, Sanusi.

Mos def the most controversial name in Nigeria in the year 2009.

HE without sin let him cast the first stone. First bank made God knows how many billions provisioning for bad loans. They were given out during Sanusi's regime as CEO. Meaning if the same yardstick were to be used, Sanusi ought not to be CBN Gov in the first place.

That aside,  let me also bring it to your notice that the over 200bn recovered till date have not been given back to the banks but has been kept in the custody of a popular Abuja lawyer. Pray, what are the funds meant to be for the smooth operations of these institutions doing in a solicitor's custody? If they had been returned, those bank guys would probably have more funds to operate.

Bottom line is, Everything in Nigeria has an undertone. The President has been out of office for 35 days (and counting) yet some loud mouthed idiots say all is well. . .  Andoakaa has decided that he alone understands the Nigerian Constitution and can interprete it, even concerning the swearing in of top Judiciary posts. . .  I shake my head in pity for my country and all I can do for now is . . .  How did Fela put it? Yes, all I can do is to Looku and Laafu

Kilonso:

I don't understand people o, was there any failed bank? And what makes you think the arrested are the only ones guilty of their punishment? Was there ever a time your brother went to bank and could not withdraw money?

Ok, now I understand your point. You wanted to see banks fail before you know we had issues with some of the banks. Allowing them to fail would have been disastrous and am I sure you would turn around to blame Sanusi for not acting in his capacity to prevent the failure. Now he has acted to prevent some banks from failing you are blaming him.

What do we really want in Nigeria? I am sure some of us would complain of too much electricity if we see steady power supply in Nigeria.

Afam:

Ok, now I understand your point. You wanted to see banks fail before you know we had issues with some of the banks. Allowing them to fail would have been disastrous and am I sure you would turn around to blame Sanusi for not acting in his capacity to prevent the failure. Now he has acted to prevent some banks from failing you are blaming him.

What do we really want in Nigeria? I am sure some of us would complain of too much electricity if we see steady power supply in Nigeria.

If you want to have your house swept you better have it done properly, not choosing spots and intensionally leaving other parts to flourish the more in their dirts. Did you not read or hear it in the news then Adenuga was also arrested? Or do you want to tell me that after his arrest, his bank was taken from him, then later given back to him with apology was a mistake? If it was then culprits' arrest should also e seen in the same light. ask yourself, why arent we moving forward in this country if all the bitching charades of those who find themselves in power are justifiable?

[b]Anyway, in my humble opionion I think SOLUDO caused it MASSIVELY. Come to think of it, Africa International Bank(AIB) disappeared into the tin air with my 21,000naira (that was late 2003). I could remember vividly that i had about 101,000 naira in my account when a friend of mine called and gave me reasons why i should quickly close my account. I rushed to the Bank and on getting there I met with the cashier and instantly he told me i cant withdraw more than 25,000 in 4 days. I operated a savings account in the UNILAG Branch late 2003 incase anyone can bear me witness. Immediately i collected the 25k. I settled one of the Bank official and he told me to come the next day to withdraw another 25k for the next 2 days making 50k,which i did. After 3 working days i quickly went to the bank only to realise that i have to wait for 1 week before i can withdraw 10k. I quickly rushed to the guy i settled and told him that i will share the whole money in my account with him 50/50 if he can help me, to my greatest surprise he said nothing could be done. Finally after 5 working days I withdrew another 4k. My brother that was the last time we were all allowed into the Banking Hall of A I B Unilag branch, late 2003. Uptill now my money is gone , i still have my deposit slip and all my records with me.

Now the BIG QUESTION is this:- Who bears all the 100% RISK of OVERSIGHT by the CBN Governor at that time?
1. All staff, i mean ALLL thier STAFF went home without termination letters.
2. We depositors- our monies disappear into the tin air.
3. Shareholders, Ahhhhhh, you know now.

Conclusively, I give my heart to the laid off Staffs. To be candid Dont you think it is better for some of the Staff to let go now than allowed the whole BANK failed after a while?
Dont you think it is better for a short time adjustment and give room for progressive change and make the SHAREHOLDERS happy in the future.

Soludo is a complete academician and as far as i am concern Sanusi is a Practitioner. You cant compare a practitioner with an academitian, Quickly, i don dig hole for my MASTER BEDROON, Load all my money there make i no come loose all my savings again.

[size=14pt]Ok make we leave SANUSI vs SOLUDO for now. WHAT CAN WE SAY ABOUT THE INDEPENDENT AUDITORS OF THESE BANKS. Wetin KPMG Professional Services, Price Water House Corper and Akintola Williams they do? Can we say these RESPECTED AUDITING FIRMS in which the Shareholders of various banks invested their trust have actually COMPROMISED?, Pls lets discuss this, please!!!!! [/size]

I rest my case, GBAMMMM!!!!!![/b]

Its still hard to believe that A SlowPoke will spend years in a university to pin his or her life on a particular job; let alone a "Bank job".

The annoying thing is when you take someone who read like Computer Engineering for instance; He leaves school and straight for a bank and the next thing he spends 6 years sitting in one chair and table - IF his mouse gets faulty he calls Pallette to fix it, if his notebook or PC doesnt boot he calls Computer warehouse, If his internet connectivity is faulty, he calls 21st century - Now after 6 years he only bloats up like a pig and drives one of those silly toys ( ON FINANCING of course) - Now he is sacked and he cant even get himself to fit in; his mates after all those years have invested so much in themselves and are able to sell specialized IT services to establishments including banks. The only thing in his head is Phoenix - "Im a Banker"

I think people should stop feeling pity for this guys and ask them to get a life!

Hate it or love it BUT its the truth, get a life or bleep off.

I salute the mans courage and decisions. He has been able to sanitize the industry,though some still frowns at the process,

Onwan:

Its still hard to believe that A SlowPoke will spend years in a university to pin his or her life on a particular job; let alone a "Bank job".

The annoying thing is when you take someone who read like Computer Engineering for instance; He leaves school and straight for a bank and the next thing he spends 6 years sitting in one chair and table - IF his mouse gets faulty he calls Pallette to fix it, if his notebook or PC doesnt boot he calls Computer warehouse, If his internet connectivity is faulty, he calls 21st century - Now after 6 years he only bloats up like a pig and drives one of those silly toys ( ON FINANCING of course) - Now he is sacked and he cant even get himself to fit in; his mates after all those years have invested so much in themselves and are able to sell specialized IT services to establishments including banks. The only thing in his head is Phoenix - "Im a Banker"

I think people should stop feeling pity for this guys and ask them to get a life!

Hate it or love it BUT its the truth, get a life or bleep off.

You are the one who needs to get a life! Has any of them ever snatched ur chic? Why do u hate them so much? Hello, how many banks buy these so called home made specialized IT systems in the first place? These guys lost their jobs because their employers misbehaved and all you can do is rant. . . Jeez! You are pathetic. For each person sacked, do u know how many Nigerians are affected? Some of your statements were outrightly callous. I suggest you go thru your post again. . . Slowly this time. Jeez! Such outbursts!

Im not the one complaining.

All these about Labour union, sanusi, etc - what the hell??, you've been sacked so?

Get a profession and if you have one, then get a life and stop whining. Pity is for failures;

IF ALL YOUR YEARS IN A BANK DID NOT PREPARE YOU FOR THIS - THEN YOU REALLY DESERVE PITY - UNFORTUNATELY I DON'T PITY FOOLS.

@Freezy
I dont have "chiks" - Im responsibly married with kids and businesses (Part of them being providing third-party network solution to banks)

sanusi, no matter hw u may praise him has nt helped d financial sector at all. By dis fire brigade approach he has taken us back 10yrs. If u work in a bank n knw hw l/cs frm naija banks were being turned down due to his singular tsunami n d associated bad image it paints nigerian businesses n bizmen u wld b amazed. The audit he carried out where done on an unequitable scale because he cld hav audited every bank n published d result once rather dan cause panick amongst customers.

@onwan in as much as might feel u r making a point its no reason to talk down on ppl dat hav lost dere means of livelihood due to no specific fault of deres. U may b seating pretty nw seepin magaritas bt knw dat dere r other ppl who r nt so lucky as u n if dey hav put in time,energy n sweat in a job dey luv dey deserve more dan to b thrown out without as much as a tanx 4 dere sacrifices. So spare me ur posturin frm a "high moral ground

freezy:

You are the one who needs to get a life!   Has any of them ever snatched your chic? Why do u hate them so much? Hello, how many banks buy these so called home made specialized IT systems in the first place? These guys lost their jobs because their employers misbehaved and all you can do is rant. . . Jeez! You are pathetic. For each person sacked, do u know how many Nigerians are affected? Some of your statements were outrightly callous. I suggest you go thru your post again. . .  Slowly this time. Jeez! Such outbursts!

guy, you just unwittingly and spitefully digressed from the topic, may be you are an it guy, thats ur cup of tea and if someone else can do banking alone thats his own cup of tea.

@ freezy, srry my posting was meant for onwan

Onwan:

Im not the one complaining.

All these about Labour union, sanusi, etc - what the hell??, you've been sacked so?

Get a profession and if you have one, then get a life and stop whining. Pity is for failures;

IF ALL YOUR YEARS IN A BANK DID NOT PREPARE YOU FOR THIS - THEN YOU REALLY DESERVE PITY - UNFORTUNATELY I DON'T PITY FOOLS.

@Freezy
[b]I dont have "chiks" - Im responsibly married with kids and businesses (Part of them being providing third-party network solution to banks)[/b]

your statement widely contrasts your claim of being "responsibly married with kids" so please live it up, otherwise get d f---ck outa here. NRLND no be forum to oppress

@Kilonso

Personally whatever you have to say is not in any way important to me.

Keep talking

Guys, make una stop this personal insults on yourselves. Nothing here should be taken personal - this is a discussion forum and everyone is entitled to their own opinion. If you want to open a champagne that people lost there jobs ok and if you decide to sympathise, still ok. If you are not happy with what has been said by someone else, simply point it out in your comment and try not to take it personal.

Please let the discussion continue jare.

bt d fact is ppl like dis onwan dat end up in political position bcom demi-gods dat do nt empathise wit wat d common man goes through. So y shdnt he b gutted? On dis nairaland complaints of d high handedness of ppl in power flourishes bt here is someone dat feels irritated because of discussions abt job losers. D disgust is more because he doesnt feel dere is anytin wrong wit wat he said. Dats a lousy person even if u r bill gates

namski:

Guys, make una stop this personal insults on yourselves. Nothing here should be taken personal - this is a discussion forum and everyone is entitled to their own opinion. If you want to open a champagne that people lost there jobs ok and if you decide to sympathise, still ok. If you are not happy with what has been said by someone else, simply point it out in your comment and try not to take it personal.

Please let the discussion continue jare.

thanx jare

Onwan:

@Freezy
I dont have "chiks" - Im responsibly married with kids and businesses (Part of them being providing third-party network solution to banks)

Good. You've got kids, the more reason I expect some milk of human kindness from u. Get one thing right, Salary earners are not the only ones who go down. Private peeps go down too. . . By no fault of theirs a lot of times! A simple policy change can render an organisation useless. How'd u feel if a sudden upgrade (or downgrade) renders your services obsolete (Just like the Iraqi govt did not allow Internet providers sell their services for a while). IT is good, but someone in Customer Service consulting would rubbish your work if given an opportunity.

What am I driving at? Calling a spade a spade, people have lost their means of livelihood. This is not the time to gloat. Those of us lucky to have a means of income should be greatful to God, help and have pity on them.

@Buchi07

Sincerely speaking, you can go ahead and sulk till death OR wake up to the coffee smell and do something with your life, It has never been and will never be about the money - Its about you.

Its one thing to stand in front of a bank and see it as the beginning and end of you life, AND another thing to see it as a building you can own - which one is right? Please tell me.

My passion about this whole thing is that we are not talking about low-lives; we are talking about able-bodied intellectuals P.L.E.A.S.E!!

Its people like you who are the enemies of these people NOT ME. And if Im in a political post; My business with someone like Sanusi is to get the banks to survive (On a time line)- when they survive they can re-hire - when they are no more they cannot re-hire. AND I will tell any stupid layoff this same thing! period!!

So dont get it twisted, this is not personal, a graduate has to see his/herself as a graduate, not as a banker or a civil servant.

Ask yourself; If you have a profession or something you are good at; cant you sell that service to a Bank, or the Police, or an oil company, or PHCN, or a school (without full time employment)

Think about it; you wake up 4 in the morning and come back home 11pm - when will you have time to;
1. Improve on your self
2. Get a relationship
3. Look at yourself - and see what else you can be.

I really dont care what you think; I know what I know and I will say what I understand,.