The ability to create an enabling business environment is one thing that sustains am economy . This ,Nigeria I in a battling a to create,, yet as it stands I today, it is a mirage and this a has been demonstrated by the dramatic exit of Etisalat, with a lot of jobs hanging by the fringes. That's the true situation of this thing. The question is ; are we truly practising banking the way it is been practised or are we into some kangaroo banking service with some pretty ladies sent to go and get deposits?

The exit of Etisalat is an embarrassment to industry watchers, though to some, it might be a good thing that the telecommunication is in the hands of group of nine. Let's face the truth.It might affect our cap in hand position of begging investors and how the global business community sees us . Now look at it

They will understand that our banking system is inept and the regulator in a state of lacuna and comatose. And that's a fact...I can't remember these lousy banks ever giving me an interest ..All I get is debit this and that ...Now are they not inept. It's better doing Ajoo or akawo

Now ,it has demonstrated that the true act of banking is a luxury for the so called Nigeria banks...With a lot of bad loans...It either means they don't collect adequate security or colleteral...But those monkeys in suits will ask me to bring the head of my late mum when i ask of ordinary over draft . Banking indeed a la Nigerian style.

Finally, it has demonstrated the faulty business environment Nigeria has with lip service o creating enabling environment. How can you function as a corporate entity within such a framework ? With out for casting how the dollar is bought, even if it's seen....Only those in pilgrimage....Now how can other potential investors take us serious. Now, there isn't even specialised exchange rate for critical sectors like telecommunication, agriculture and medicals.... These are critical sectors but we re in this trash.

The questions are :
How did we end up to this level ?
How do we salvage this situation of firms , SME especially closing shops ?
How do we give investors confidence ?
How do we sort this exchange mess we are ?


These are questions awaiting for answers. Like they say in Igbo land, it's good for the breeze to blow so that the anus of the fowl can be noticed. The exit of Etisalat has showcased the kind of banking and business enabling environment we have. The earlier we correct this notion, investors confidence would dwindle and the economy will suffer for it , especially jobs.



https://etimes.com.ng/etisalats-exit-demonstrated-ineptitude-banking-space/

a good article. but let's not excuse the financial recklessness of Etisalat.... mtn, glo and airtel are also operating with these same set of banks, so if those handling the finances of Etisalat were not competent enough to understand how financing and refinancing of debt portfolios work, we shouldn't put the blame on the banks.... no bank is a charity organization, and every bank owes her shareholders returns as well... the survival of Etisalat was jeopardized by the people handling their financial matters.