CBN gives us a conservative estimate that there are N1trn worth of toxic assets in our banks. Most informed analysts believe the AMCON bill should provision for closer to N2trn.

With N2trn of toxic assets out of a total deposit base of N3.91trn (and banking sector marketcap of only N2.5trn), some people still believe that this crisis is manufactured.

pass me the pop corn.

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.

This is definitely an arguement I like to have with all of you. Yes, an accussed person is innocent until proven guilty in a court of law. Yes go quote me to your teacher
Sanusi is inept, unqualified, and not suitable for the high office he occupies in our country's financial artery. No body has accussed him of a crime, however he has not only accussed people of different crimes( cooking bank books, stealing bank funds, diverting public funds to personal and family uses, etc), he has tried them in the court of public opinions during his road shows, and he has also convicted them by recommending that they should be shot publicly. I don't know what happens in advanced islamic studies classes he took in Sudan, but I know that his position as the accusser, prosecutor, judge, and executioner is not tenable in modern western philosophy.
Your lame comparison with the outcry for Sanusi's departure is unsound, because like I said nobody has accussed him of a crime, though he remains unfit for the office of CBN governor. Don't take my words for it, the NSA of the federal governmnent and the Min. of Finance have all raised questions about Sanusi's performamces. No comparison

So mr man, let those he has accused defend themselves! Not you doing their work for them. Or are you one of them? Because you sound like prof. Akingbola

Right step in the right direction. I keep on saying that Sanusi reform has done more harm than good and I will keep saying it.

E nice:

So mr man, let those he has accused defend themselves! Not you doing their work for them. Or are you one of them? Because you sound like prof. Akingbola

They're defending themselves, and appropriately too, and in courts of law across our country if I might add.
Until the verdict is out, the correct thing to do is to address them as the accussed, simple and short.
Why is this difficult for all these boko haram supporters of Sanusi to understand this simple concept?

ok sir.

Its unfortunate that Sanusi's banking reforms resulted to the sack of so many ppl in the banking industry. But lets tell our selves tha truth. Our banks are decaying and sooner or later the banks wud have still sacked their members of time. This bomb was still gona blow just that sanusi kinda detonated it.
Lets face facts here, if u guys know tha attrocities in banks,  the level of corruption etc. No bank is an exception just that in some banks the level of corruption is more than the others.

Well its up to Jonathan to do what he wants to do.

Is he the governor of central bank of nigeria
or the governor of islamic bank of "nigeria"?

@bike1,

There is nothing like decaying in banks before Sanusi, the only time there was problem was before Recapitalization. He is the one now

introducing decaying, only God can delivered our banks.

I never believed in Sanusi's reforms.
Especially since reading the Vangaurd article which exposed his obnoxious agenda BEFORE started implementing them.

We Nigerians are very funny, how can one compare Soludo with SLS, what is the basis of such a comparism. is it in terms of qualification, experience, foresight, intelligence or perhaps recognition.

FOR THE RECORD SLS IS A FOOL!!!, LET ME TELL YOU WHY.

1. THE FIRST RULE OF THE GAME OF POLICY FORMULATION AND IMPLEMENTATION IS TO HAVE A GRASP OF THE BIG PICTURE.
when SLS openned his big mouth and made those pronouncements, he showed that he did not even have a picture not to talk of the big one. does one need to have a PHD to know that it is fundamentally wrong to go on air with issues affecting national security. (yes NATIONAL SECURITY!!!) WHAT DO YOU EXPECT5 WHEN YOU TELL THE WORLD THAT SOME OF THE MOST VIBRANT BANKS HAVE GONE BROKE. OFCOURSE PANIC!!!.

THE MISTAKE WAS NOT SO MUCH WHAT HE DID BUT HOW HE WENT ABOUT DOING IT, WHY DID HE NOT QUIETLY PRESSURE THEM TO MERGE OR PERHAPS SELL OUT. THE CONFIDENCE IN THE INDUSTRY WOULD STILL HAVE REMAINED INTACT.

RIGHT NOW I WORK IN A BANK BUT SERIOUS SCARED OF LEAVING MY MONEY IN ANY BANK. HOW MUCH MORE THE INDIVIDUAL AND CORPORATIONS ON THE STREET.

if he was not sure what to do he should have asked for assistance.
LET HIM RESIGN PLEASE, HE IS A BIG DISAPPOINTMENT!!!

Sanusi's case is a sorry case of lack of credibility from start.
I personally don't see any nothern agenda played out here. (Except for the light case of Unity Bank)

But the manner of his appointment was questionable.
A serving CBN governor who started a project of mega-consolidation of banks was not allowed to see out his concept which had definately changed the face of banking forever in Nigeria.

1. There were a lot of Notherners calling for soludos head for the mare reason that they lost out in the banking sector reforms (For no fault of Soludo)
2. They were aggrieved when Soludo berated the northern elites for not investing in the banking sector and the Northern economy as a whole thereby impoverishing their people compared to their southern counterparts.
3. Even when it was decided that Soludo was to be removed there was intense lobbying from Northern interests in many of Naijas dailies , they seemingly made the position open to people of Northern extraction only.
4. Sanusi was selected but was not justified as the most qualified in his resume, either as an astute banker or Economists. This created a moral, authoritative lapse as many of those sanusi regulated, saw themselves as more knowledgeable than him. Unlike Soludo where only a few could dare match him based on his Economics credentials.
5. Sanusi did not even do himself any good, having had a history of being a radical writer and columnist on sensitive issues in the Nigerian political sphere.
6 And then we have the issue of the banking reforms and the resulting effects on the economy which to be fair was always going to happen, but he would have never been spared.
With the way things are going we all know that if JG runs in 2011 and returns to aso rock Sanusi's days are numbered.
Bouyed by the bad precedence set by Yar'dua and his clueless cabals.

Summarising, Nigerians might be taken as fools by the leadership but they are certainly not blind.
If Sanusi's appointment was a Northern agenda, why would you blame anyone thinking that his activities are a Northern agenda as well.

.

in yo face!!!

2 years after, man is still shooting out policies and sticking it to those illiterate honourables

You dey mind Vangaurd