E nice:

Cause/Effect
bank MDs mismanage shareholders funds and customers deposits,
Effect
economy nose dive, 23000 bank workers are sacked.
Cause
SLS sack bank MDs, inject funds into banks.
Effect
confidence is restored in the system. The average man can sleep with his eyes closed.

E nice:

Cause/Effect
bank MDs mismanage shareholders funds and customers deposits,
Effect
economy nose dive, 23000 bank workers are sacked.
Cause
SLS sack bank MDs, inject funds into banks.
Effect
confidence is restored in the system. The average man can sleep with his eyes closed.

E nice:

Cause/Effect
bank MDs mismanage shareholders funds and customers deposits,
Effect
economy nose dive, 23000 bank workers are sacked.
Cause
SLS sack bank MDs, inject funds into banks.
Effect
confidence is restored in the system. The average man can sleep with his eyes closed.

TEE ZERO:

Need I say more?

Me sef:

E nice - You got a few things wrong. The so called "mismanagent of the banks" did not result in the economy nose diving or sack of wokers. Rather it was a fall-out of the global economic meltdown which forced foreign trades and operations of manufacturers to a halt as their banks could not secure credit lines from offshore banks to finance their letters of credit. However, the effect of the meltdown was thinning out as indicative of the recovery in the capital market as share prices began to pick in the first quarter of 2009 until Sanusi came to do the banking jihad.

Even though it is true some banks needed help to survive, Sanusi worsened their situations by sacking their management, harassing their customers, destroying public confidence in those banks and ultimately forcing them to stop doing business. I am telling you authoritatively, that those banks are worse than Sanusi met them. He aggravated their problemThe painful thing is that Sanusi does not care about their recovery unlike his counterparts in other countries in Europe and America who can point to a few banks that they have helped survived. Sanusi does not have a plan for their survival other than sale of what does not belong to him. So I ask you, what is deserving of applause in what Sanusi has done? The asset management company he has proposed is yet to take off. That was even medicine after death if you ask me. Why couldn't he start from there in the first place before sacking bank's management

The banks are not better off but worse, the economy is experiencing its worst crisis after the civil war. When banks are not lending, the economy is bound to be in crisis! Everywhere in the world, economic growth are financed by debt. Sanusi should have known better if he were not just a vindictive and bigoted Jihadist who has nothing bust ruins to offer.

Please get yourself updated about economic issues.

Me sef:

E nice - You got a few things wrong. The so called "mismanagent of the banks" did not result in the economy nose diving or sack of wokers. Rather it was a fall-out of the global economic meltdown which forced foreign trades and operations of manufacturers to a halt as their banks could not secure credit lines from offshore banks to finance their letters of credit. However, the effect of the meltdown was thinning out as indicative of the recovery in the capital market as share prices began to pick in the first quarter of 2009 until Sanusi came to do the banking jihad.
Even though it is true some banks needed help to survive, Sanusi worsened their situations by sacking their management, harassing their customers, destroying public confidence in those banks and ultimately forcing them to stop doing business. I am telling you authoritatively, that those banks are worse than Sanusi met them. He aggravated their problem. The painful thing is that Sanusi does not care about their recovery unlike his counterparts in other countries in Europe and America who can point to a few banks that they have helped survived. Sanusi does not have a plan for their survival other than sale of what does not belong to him. So I ask you, what is deserving of applause in what Sanusi has done? The asset management company he has proposed is yet to take off. That was even medicine after death if you ask me. Why couldn't he start from there in the first place before sacking bank's management

The banks are not better off but worse, the economy is experiencing its worst crisis after the civil war. When banks are not lending, the economy is bound to be in crisis! Everywhere in the world, economic growth are financed by debt. Sanusi should have known better if he were not just a vindictive and bigoted Jihadist who has nothing bust ruins to offer.

Please get yourself updated about economic issues.

UpBendel:

Let me get this straight.  First we ignore the impact of the global recession and downturn and the fact that just two bank managers - Ibru and Akingbola - singlehandedly stole over 1 trillion naira from the banking sector, and blame the current bank chaos on Sanusi?! 

naijaking1:

'Alleged to have stolen' is a more accurate terminology

naijaking1:

'Alleged to have stolen' is a more accurate terminology

mbulela:

you will make a good comedian.
kai, you funny die.
Alleged my foot.

I beg tell him o! Can you imagine the gall and effrontery?

tkb417:

The reason why we are still where we are is because people will rather praise sing the looters and condemn SLS

imagine someone claiming it was alleged

How come The Intercontinental MD fled abroad when he was supposed to have gone to court to challenge the "allegations"

Jesus truly wept!!!!!!

'We have already published details of the extent of insider abuse in several of
the banks. CEOs set up Special Purpose Vehicles to lend money to
themselves for stock price manipulation or the purchase of estates all over the
world. One bank borrowed money and purchased private jets which we later
discovered were registered in the name of the CEO’s son. In another bank the
management set up 100 fake companies for the purpose of perpetrating fraud.
A lot of the capital supposedly raised by these so called “mega banks” was
fake capital financed from depositors’ funds. 30% of the share capital of
Intercontinental bank was purchased with customer deposits. Afribank used
depositors’ funds to purchase 80% of its IPO. It paid N25 per share when the
shares were trading at N11 on the NSE and these shares later collapsed to
under N3. The CEO of Oceanic bank controlled over 35% of the bank through
SPVs borrowing customer deposits. The collapse of the capital market wiped
out these customer deposits amounting to hundreds of billions of naira. The
Central Bank had a process of capital verification at the beginning of
consolidation to avoid bubble capital. For some unexplained reason, this
process was stopped. As a result, we have now discovered that in many, '

UpBendel:

"Alleged to have stolen"? This is the same mentality that allowed Babangida to deal away oil rights to God knows who from his time in power to 2004. The same mentality that encouraged Abacha and his cronies to 'allegedly steal' over $2 billion. The same mentality that allowed Umaru Dikko, to clean us out in the 80s. This is the same mentality that continues to grow in a society that cannot account for over $400 billion since independence. A society that had a telecommunications company that only provided less than 3000 lines throughout its entire existence.
Only in Nigeria would you find the Ibori's, Alams, Igbenedions, Yerimas, Tinubus, thriving and making a mockery of the rest of us and holding everyone captive.
My good man, they stole the money. You know it and everyone else knows it.

Onlytruth:

The day they removed Soludo and replaced him with Sanusi, I told whoever cared to listen that we were back to square one.
Frankly, it would be a good thing for the north to stop manning highly technical and intellectual positions in Nigeria. The manpower is simply not there in the north. Even if you find one of such talent, you find about 50 in the south.
Why can't Nigeria function based on merit? What did Soludo do wrong as CBN boss?
Alan Greenspan was the US Federal Reserve Chairman for many years. Bernanke is continuing in that tradition. Both of them are Jews! Why can't Nigeria hand over leadership of highly technical things to whoever is most skilled and qualified in Nigeria?
Ernest Ndukwe revolutionized cell phone industry in Nigeria. He is retiring now. I wonder who they will replace him with.
Highly technical things cannot be run on a turn by turn basis. Let the BEST handle it.
[/quote

naijaking1:

If you're not educated enough to understand that in civilized societies, all accussed persons are innocent until proven guilty in a court of law, then I really can't argue with you. We have gone through this concept in many previous threads on this issue, and there's no time to educate you at this time. Just go buy a small book on civics.

E nice:

"A person is innocent until proven guilty IN A COURT OF LAW". Therefore, SLS is innocent of all actions or inactions he may be accused of in this forum. Until he his proven guilty, all allegations are mere insinuation.