@ Freezy

You need to understand that most industries have gone through changes BUT owning yours and being a master at yours (even in partnership) has sustained a lot of the individuals directly involved.

We are talking of industries where licenses and policies makes your next proposal illegal and impossible - BUT - you have to be out there and be on your own to know how to handle it - NOT WHEN YOU DON'T EVEN HAVE A PROFESSION OR ANY STANDS.

I cant have a discussion with you IF you have this stereotype, employee, loser mentality, like a clone.

If you are a musician for instance; you know the only difference between you and a weight like 2face is ONE CHANCE - But you need to try. Same is the difference between a phone seller on the road and Slot Systems, same for most other professions, You just have to try

NOT GO ON AND ON WITH SELF-PITY, OR MAKING OTHERS FEEL PITY FOR THEMSELVES - Because they have a chance to live up to the real and make it in life.

I say to you - SHUT UP

Onwan:

@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 silly 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,.

You need to understand that not everyone is as lucky as you, and not everyone is as unfortunate as your neighbor, you don't sit in high chairs and throw insult at those that have just fallen, people deserve empathy especially when their immediate source of income is shut down, many of them are breadwinners for crying out loud.
Many are into banking and civil service because its the immediate source with which income can be generated to go into something bigger, you seriously think everyone is happy to wake up at 4:00am and get back home at 10pm? it is grossly unfair to judge others by your own fortunes and opportunities, not everyone is an IT professional, not everyone has the same circle of friends, not everyone has the same links and contacts that can provide them with jobs such as provision of third party network solutions. . . to each his own. . . different strokes for different folks

and if you cant empathize with them then shut the fck up

again my point . In ur arrogance and posturin resides d fundamental problem naija faces with its leaders, selfishness. Nt everyone is as lucky as u bt of course dats none of ur biz. Dis talk abt u is really a waste of time.

Now the employer employee thing is just one part you chose outta all I talked about. Now I see you talking trash about your definition of self pity and all. If not for your blinded hate, you shoulda seen that all I said was "Thou shalt not gloat over the downfall of your fellow Nigerian"

Do you know the aftermath of the 'sack' thing? Lemme tell you a lil. A vey good number of them would be back in banks and other reputable organisations in the next 1 year. The ones who have good money and good acumen wont go back. This is not the first time it has happened and mos def aint going to be the last.

Not every one can be self established. There has to be a balance. If everyone was established, who would you employ as your staff? There is a time for everything. If you go into business when u are supposed to, beautiful! If not, you'd wish you never did.

Get your facts right. I am never and will never be an advocate of self pity, so if u please (or not. . . who cares?) SHUT THE FCK UP
1-1!  

ITS CALLED A LOSER'S PARANOIA

EDUCATE YOURSELVES - CRACKS

And here's someone living in a "Winners domain". . . Onwan!

Effing Proud and cocky self made entity.

We all have our employees. Still we don't rejoice nor castigate when our colleagues lose their jobs.
But to this wise man on our blog, they are fools for choosing to work in some places.

Nonsense.

@ onwan . u r totally high on cheap alabuku,

i must confess that im no banking or economics guru. i have also been carefull not to hail the bow tie man untill im sure his motives are genuinely objective. however im being swayed in his support cos im of the opinion that corporate governance is the spill over of failed government which we are all witnesses to the rubbish that is going in that name in this country. banks have colapsed due to poor corporate governance issues and no one has taken the can for it. a current governor ran down societe general bank and has the boldness to contest for elective office. is this the step in the right direction? time will tell.

Onwan may be too harsh with his choice of words but I agree with him in principle that graduates should do more than look for white collar jobs in an economy where almost every single problem is an opportunity to offer a solution and make money doing so.

Many (if not all) of the disengaged bankers were paid off but they seem to be silent on that part making it seem like they were fired or sacked and that is part of the insincerity of the average Nigerian.

If the main hope of graduates to survive is to work in banks or oil companies then Nigeria will be worse in no time.

All the rich men and women in the world today make money by providing solutions to problems and if we are really sure of our education then we can do same.

This is not about being lucky. It is about a choice, a choice that remains 100% open till tomorrow.

Back to the topic,

Sanusi has done well and well meaning Nigerians know that. The intervention is in order and should be supported.

Please Let's not antagonise each other no matter our circumstances, remember the corrupt leadership of our economy is the problem and not us the victims.

Afam:

Onwan may be too harsh with his choice of words but I agree with him in principle that graduates should do more than look for white collar jobs in an economy where almost every single problem is an opportunity to offer a solution and make money doing so.

Many (if not all) of the disengaged bankers were paid off but they seem to be silent on that part making it seem like they were fired or sacked and that is part of the insincerity of the average Nigerian.

If the main hope of graduates to survive is to work in banks or oil companies then Nigeria will be worse in no time.

All the rich men and women in the world today make money by providing solutions to problems and if we are really sure of our education then we can do same.

This is not about being lucky. It is about a choice, a choice that remains 100% open till tomorrow.

Back to the topic,

Sanusi has done well and well meaning Nigerians know that. The intervention is in order and should be supported.

I'm not so sure about that. From what i heard, only First Bank treated their staff well. Oceanic paid pittance and I dont think Intercontinental, Wema, Diamond et al did pay anything meaningful. For the newbies, they live to fight another day, but for the old hands. . . What a pity.

True that, if the main hope of all graduates is to do banks and oil companies, that is doom, but what of all the other fields? Academics, IT, Consultancy, farming, etc.

Now you'll agree with me that a good %age of the all the aforementioned fields are salary based. There has to be a starting point, esp for those of us that came from humble backgrounds. Onwan just needs to get this to his head. Not everyone can be an employer. There will always be employers and employees, and the fact that some people are employees of an unfortunate organisation caught up in this mess called Nigerian politics does not make them any less wise than we are. We are lucky (opportunity + preparedness), and we only hope that next wave of unpredictable government policies (that are always against the masses that they are meant to serve) are not against our businesses.

Fair enough. Well stated. Don't have any facts on the actual amount of money paid the disengaged bankers but the point has to be made that they could be better off outside what they see as comfort zones.

You are so right. I'm sure they don't need a Daniel to interprete the handwriting on the wall this time around.

I have read and digested the comments on this thread carefully, sometimes going through them second or third time to comprehend the contents and assess the personality behind each commentaries. I only came out with one conclusion, we treat issues with a lot of emotional push. This emotional verge separates us into being called apathetic or sympathetic.

The issue on ground is operating at pedestal that convolutes apathy with sympathy resulting in reality. Look at it this way, no one under normal circumstances would wish evil of another. no employer would under normal circumstances lay off employees. Circumstances make people to do what on normal situations, they would not have readily done.

People do a lot of things, legally in this respect to survive including seeking employment. Those who are fortunate to start businesses whether early or later in life are not necessarily sharper, smarter or better endowed but circumstantially enabled. Besides it follows natural laws to be leaders and followers, poor and rich, masters and servants, employers and employees.

Misfortune can under any circumstance affect any person, group, business or nation. When misfortunes comes, natural laws expects us to look after each other and not necessary castigate. Misfortune could be accidental (controlled and uncontrolled) or man-made, and according to Murphy's Law, it comes when least expected.

Those affected by the misfortune of the banks into losing their jobs are just unfortunate to be caught in the web just as businesses can be unfortunate to be caught in other webs that lead to collapse or death.

What I do not subscribe to is for some people to over pity them instead of giving a supporting hand or for someone to be boasting about his non vulnerability to misfortune ( a joke). I want NAIRALANDERS to begin to suggest how those affected by the job losses can survive the setback and move forward with their lives. Counselling and pieces of advice on enterpreneural ventures, job opportunities, financial sponsorship of viable business ideas is what I want us to give to these people.

Enough of PITYING and BOASTING. GIVE HELPING HAND IN FORM OF IDEAS ON BUSINESSES AND OTHER SURVIVAL TIPS.

GNBohr:

I have read and digested the comments on this thread carefully, sometimes going through them second or third time to comprehend the contents and assess the personality behind each commentaries. I only came out with one conclusion, we treat issues with a lot of emotional push. This emotional verge separates us into being called apathetic or sympathetic.

The issue on ground is operating at pedestal that convolutes apathy with sympathy resulting in reality. Look at it this way, no one under normal circumstances would wish evil of another. no employer would under normal circumstances lay off employees. Circumstances make people to do what on normal situations, they would not have readily done.

People do a lot of things, legally in this respect to survive including seeking employment. Those who are fortunate to start businesses whether early or later in life are not necessarily sharper, smarter or better endowed but circumstantially enabled. Besides it follows natural laws to be leaders and followers, poor and rich, masters and servants, employers and employees.

Misfortune can under any circumstance affect any person, group, business or nation. When misfortunes comes, natural laws expects us to look after each other and not necessary castigate. Misfortune could be accidental (controlled and uncontrolled) or man-made, and according to Murphy's Law, it comes when least expected.

Those affected by the misfortune of the banks into losing their jobs are just unfortunate to be caught in the web just as businesses can be unfortunate to be caught in other webs that lead to collapse or death.

What I do not subscribe to is for some people to over pity them instead of giving a supporting hand or for someone to be boasting about his non vulnerability to misfortune ( a joke). I want NAIRALANDERS to begin to suggest how those affected by the job losses can survive the setback and move forward with their lives. Counselling and pieces of advice on enterpreneural ventures, job opportunities, financial sponsorship of viable business ideas is what I want us to give to these people.

Enough of PITYING and BOASTING. GIVE HELPING HAND IN FORM OF IDEAS ON BUSINESSES AND OTHER SURVIVAL TIPS.

100% in agreement.

Almost all the problems we have in Nigeria can be solved by Nigerians and if we can look for ways to solve these problems we will be useful to the society and still make money while employing others.

I design websites, develop software and database driven applications. When I am not doing these I design, manufacture and install inverter backup systems.

I am neither a computer engineer nor an electrical engineer to be doing any of these. I read chemical engineering, practiced process engineering and project management before saying bye bye to paid employment.

Humility, willingness to learn and determination will help to succeed in any venture. Knowledge is out there for anyone that wants it irrespective of tribe, sex etc.

So, let them get out of their comfort zones, get their hands dirty on some problems around, try to solve them and make money in the process.

MAN, TGTSSAN blame FG over mass sack

Adunola Fasuyi, Lagos - Nigeria Tribune 30.12.2009

Consequent to the high rate of mass sack in the textile industry, the Textile, Garment and Tailoring Senior Staff Association of Nigeria (TGTSSAN) and Manufacturers Association of Nigeria (MAN) have blamed the Federal Government for the sad development, urging it, however, to take urgent steps to save the industry from total collapse.
The TGTSSAN’s National President, Yakubu Jekeri, reviewing the closure of over 900 textile industries in the country and the thousands of jobs lost in the process in the last 10 years, demanded that the Federal Government should wake up to the challenges and rescue the industry from total extinction.
He revealed the major cities with the highest unemployment rates resulting from the decay in the textile industry in the last 10 years to include Lagos, Kaduna, Abuja, Kano, Enugu and Ibadan.
According to him, “We demand the swift intervention of the Federal Government on the revival fund of textile industry that has thrown thousands of Nigerians into the labour market in the last 10 years. It is sad that the challenges that led to the collapse of the textile companies over the years, which our association thought could be revived by the Federal Government intervention fund are still declining.”
He noted that the inconsistency in government policies, lack of protection of home industry due to globalisation and liberalisation policies, high interest rates, power crisis and the high cost of fuel, which had led to a sharp rise in the cost of production, are responsible for the problems in the industry.

I copied and pasted the above so that some people will stop pitying the ex-bankers and that some people will appreciate the problem we have generally in Nigeria. People like Onwan should be more understanding and supportive. Onwan you can be affected too.

Im sorry if any of you misunderstand what I am trying to say, BUT let me break this down this way to you all and see if it registers;

If you see a mechanic or the people we call rewires for instance - he probably completed his training and is working as an artisan in one corner;

One day he feels he needs a "change" in his level and decides to go for a "white collar job" and hooks up with Coscharis or one of these Auto-centers; he stays there for 3 years - All "computered" out and has forgotten how to change an alternator without using a "Computer"

Tomorrow the Autocenter feels its losing businesses to "road side" mechanics and rewires and decides to downsize - Our man is sacked and he feels "his world" has "ended".

Please tell me, which of this will be the best to tell him;

1. Sorry, such is life - "It is well"
2. My friend, dust off and get to work - You were a mechanic before that employment and you are still a mechanic

This is my point - Throw a mechanic, a rewire, a carpenter, or any professional anywhere on earth - He will always find his way.

You were not born a banker, it was only your choice of employment - a lot of us had those interviews and employments lined up in those days BUT declined - not that we had foresight or anything, its was just a matter of choice. Whatever people decide to do in life has its own challenges - BUT DONT BE CAUGHT DEAD WITH ONLY YOUR CV AS WHAT YOU CAN FALL BACK ON - Its suicidal.

At this stage in life - living means having something you are passionate about; something that you can sell, market to individuals and get an audience, NOT only at interviews.

We both know that some artisans, as a matter of fact IF a mechanic wakes up and stands on 3rd Mainland Bridge or Lagos/Ibadan Road - He will get a job to do for someone before 4 hours.

Its just what I feel and just the way I can say it.

Cheers

100percent in support of Sanusi. these guys you call '' bankers'' are just gangsters.

why the long sermons  about  the mass sack in the banks. so many people in the wrong place. i mean what are engineers. pharmacists. geologists. architects. vet surgeons . graduates of botany zoology anatomy education agriculture etc doing in the banks?

@onwan. Better said ,well articulated. And u shd hav started ur earlier posts wit dese points instead of moralisin. I agree wit u 100%

I quite agree with some of the points you guys made. As for the actions of sanusi, They are both subjective and Objective because those actions were strictly timely but done with a hard dose of mallice and vengeance on those MDs. For u outside the banking sector u only see wat u read in d newspapers but I must confess ,the situation was far worse than what u thought. I need to tell you that over 60% of the bad loans in the banks especially Akingbola's bank were given to the directors of the bank, their relatives and friends not inotially as loans but as bonuses and allowances only to be tagged LOANS on record.
It is no news that there had been a long standing face off between Sanusi and Akingbola while Sanusi was MD of First Bank, No wonder there are rumours that First Bank might eventually buy over Intercontinental bank Which was initally considered bigger.

Well done Sanusi. By the time all the sacked bankers join the array of unemployed nigerians, and some of them and their dependants dont have enough to cater 4 their needs. May be crime can increase. Economy get devastated. All the sanusi's , his advocates, and other loyal northerners eyes will clear. Thank God what is happening now is for all. GOOD OR BAD All of us go benefit positively or negatively. I just pity some of us that falls under catigory 'grass' that usually suffer when 2 elephants fight. I pray God help us.

Where is sanusi now probably hidding in the emirs palace in sokoto the crap has hit the fan now no work no money next thing will be crime.
Those that knew kept quite those that did not know where screaming now who is laughing.
Sanusi is a dullard knows nothing about managing our apex bank.

Even a slowpoke would have done better.

They want to destroy the wealth in the south and west and some morons here are happy.

IS IT A CRIME TO BE RICH.

The more reason why people IN the banking sector should be prepared AND not get distracted. Its insane to mortgage one's life (and children) future on rumors and politics.

Most projects, businesses and jobs based on political positioning, rumors, etc are very volatile AND never amounts to anything eventually IF one is not smart about it.

Sanusi or no sanusi, director or no director;  has no business with people feeding themselves and providing for their homes. People like that will always be there - and stories like this will always come up; What matters is what you make out of your being in that situation.

Nobody really understands the "science" of the Tsunami, its the evidence and the things it did to people that matters.

bombay:

Where is sanusi now probably hidding in the emirs palace in sokoto the crap has hit the fan now no work no money next thing will be crime.
Those that knew kept quite those that did not know where screaming now who is laughing.
Sanusi is a dullard knows nothing about managing our apex bank.

Even a slowpoke would have done better.

They want to destroy the wealth in the south and west and some morons here are happy.

IS IT A CRIME TO BE RICH.

Its not a crime to be rich LEGALLY, but it is a CRIME/SIN TO GET RICH ILLEGALLY

alot has been in this forum concernig this topic. what many don't know is the way and manner that people get sacked.some people are sacked days before they are givien letters. some by phone calls. people dat were sent on assignment by and for the same banks.even if they are to sack staffs, the way and manner it is carried out should be humane.

Another Gorilla or is it penguin pursuing his own wreckless agenda, in his mind he's doing great things

@ Onwan

Unless you keep all your money in a hole underneath your bed, you have to admit bankers are useful to you. Banking IS a perfectly valid & respectable profession (albeit a very dull one). It's just the way our banker brothers go about it in this country that has made the industry an extremely dirty one.

Total mismanagement of an industry that relies on confidence, this is an analogy for those who find it difficult to understand how the industry was mismanaged by the cbn governor, imagine you have a family disagreement, do you go around bad mouthing your wife to your neighbors? or do you handle things internally? if you chose the first option then ask yourself this question, provided you did not divorce your wife, what perception of your wife do you expect your neighbors to have after settling with her.

My next point is based on corporate governance (CG), transparency is a key fundamental principle of CG, part of the infringements of the sacked MDs was bad CG, the question is, has the cbn governor exhibited this principle in his audit? definitely not, disclosure is another term for transparency, has the cbn disclosed its basis of opinion and how this opinion was reached? definitely not.

Based on my audit the cbn has violated corporate governance principle so lets start a bonfire of the regulators, but after a second thought CG in Nigeria i believe is based on comply or explain since it is not embedded in the law like SOX, in that case i will ask Sanusi to explain his non-compliance with good CG as oppose to setting him on fire.

Finally regulators should be at the forefront of good CG and this should be evidence in the way it conducts its affairs.

DISCLAIMER

I DO NOT SUPPORT THE THEFT OF DEPOSITOR'S AND SHAREHOLDER'S FUND, HOWEVER I WILL LEAVE THE COURT TO DECIDE WHO STOLE, LAUNDERED AND MISMANAGED THEM

Another principle of good corporate governance is independence, how can the cbn be independent when it acts as a regulator and a counter party to the transactions of those it is regulating, it introduces a conflict of interest which impairs its objectivity.

I advocate a structure similar to the UK, where there is a separate body (FSA) that regulates the financial services industry which includes obviously banks, with this you have a regulator who is not a participant in the money market.

The governor is busy talking about corporate governance, when the main culprit is the cbn.

Sanusi has so much in common with Muttallab.

He became the cbn governor with just one objective in mind - to avenge the perceived injustic meted down by Soludo on Northern Banks. Let anyone challenge me onthis.

The question is since the taken over of these banks and the sacking of the MDs, is d banking sector stronger and more virile? No.

What has reform brough?

- High rate of unemployment
- degradation of stakeholders' trust in the banking industry (which before now happened to be the only virile sector of the Nigerian economy).
- capital flight out of the country as a result eroded in the economy as a whole
And lots more.