invisible!:

I didnt get to read the part where she was alleged to have given herself a loan, could you please help point it out to me. Thank you.

kafanchan:

It is not decision gone wrong my brother, it is MAN KNOW MAN. First bank know sanusi and oceanic bank doesnt. I wish this thing done to Ibru will go round other MDs too. I am more than 70% sure not a single MD will be left (Imean those MDs under Soludo). I just have this feelings that as long selective judgement continues, we are doomed in this country. Man go just tif money, and e go make sure say im dey humble enuf to pally any government in power. Shey u know of the issue of SEAWOLF and FIRSTBANK. Sanusi never bullied First bank for giving one organisation loan worth 28% of its shareholder's fund. To make the matter worse, the loan was reclassified instead of being written off ( the evidence was once posted on NL but I cant lay my hands on it now). The same offence few other MDs are facing trial for. Just imagine Ibru going to jail and Ovia, Elumelu, Akinfehinwa and Tayo being celebrated. So sad, my brother.

I have a dream, that one day all thieves will be made to face judgement irrespective of their affiliation or connection. That is when I can boldly say "Naija is there".

invisible!:

Would it not be a waste of bandwidth, to try and compare apples and oranges here. Enron, the US are a different kettle of fish altogether. Let us stick to the basics.

kafanchan:

She is actually guilty, my own is question is 'what about other MDs", (na im make me dey feel for the woman - I feel bad when I see a case of double standard),  Prosecute them too, that is when me, you and every sane person in this country will know that we are on track to real justice and fairness.

xterra2:



So the Anti-Sanusi guys are a bit  silent here  

maxdi:

I think I have a different view.

Where on earth could all these have been gotten?
Had this Nigerian worked with govt. or been into politics before?
How has this loot affected oceanic bank staff and depositor?
Is this not really political, considering the jail term?

Oh Lord My God, Please Save this country and give us strength to embrace the truth.

invisible!:

I agree with you, but only to some extent. I think the Ibru woman committed some wrong, albeit with good intentions. What I wont endorse is going after some people because of their way of life, not for the weight of evidence staked against them.
This woman has become too rich for a banker, and in the face of mounting economic ruins and poorer working class, it looks wrong. Back to her offence, all the 25 bank MDs are guilty of that, let all of them be locked up. Justice will be seen to have been done, especially if it is not selective.

Lagosboy:

People screaming selective jsutice should think again and understand that a person accepts guilt herself and now a convict, she accepted to forfeit 190 billion naira herself without a judge having to prove her guilt. The bottom line is as long as an innocent person has not been convicted of fraud then there is no case for selective justice. 100% cleansing cannot be achieved in one day or by one person but someone has to start the process in which case Sanusi has started.

The beneficial thing is these CEOs know that it is not business as usual and they are towing the line set to them by the CBN governor general.

Sagamite:

Can you please explain.  

invisible!:

I agree with you, but only to some extent. I think the Ibru woman committed some wrong, albeit with good intentions. What I wont endorse is going after some people because of their way of life, not for the weight of evidence staked against them.
This woman has become too rich for a banker, and in the face of mounting economic ruins and poorer working class, it looks wrong. Back to her offence, all the 25 bank MDs are guilty of that, let all of them be locked up. Justice will be seen to have been done, especially if it is not selective.

1 United:

Before we crucify her, let us bear these points in mind.

1. Does it mean there is no legitimate wealth acquired by her? As we one can see that all she had laboured for in life are all listed here including her present residence as illegal wealth.

2. Let us also remember that she is a business woman just like Dangote, Otedola, Jimoh Balogun et al. Though one may argue that her own line of business is in delicate sector of the economy.

3. she can still avail herself the remaining legal windows which is by appealing.

4. Lastly how can one solve this riddle for me? Does it mean the MDs of FirstBank, Zenith Bank, UBA, Diamond bank, GTBank etc are all innocent of these crime no matter how little? Because almost all of them were all over the place chasing one award and another while their individual banks were melting.

1 United:

Before we crucify her, let us bear these points in mind.

1. Does it mean there is no legitimate wealth acquired by her? As we one can see that all she had laboured for in life are all listed here including her present residence as illegal wealth.

1 United:

2. Let us also remember that she is a business woman just like Dangote, Otedola, Jimoh Balogun et al. Though one may argue that her own line of business is in delicate sector of the economy.

1 United:

3. she can still avail herself the remaining legal windows which is by appealing.

1 United:

4. Lastly how can one solve this riddle for me? Does it mean the MDs of FirstBank, Zenith Bank, UBA, Diamond bank, GTBank etc are all innocent of these crime no matter how little? Because almost all of them were all over the place chasing one award and another while their individual banks were melting.

naijaking1:

I'm happy we have a lawyer on board!
Unlike many people here who don't understand the need to prosecute/ convict before sentencing an individual accussed of a crime, I know you'll undersatnd the need to go through a formal trial before calling for someone to be shot at sight.

Even though we know that the lady had a plea bargain, you might also know that many factors lead people to plea bargain. One of those factors is the person's mental and physical health and the potential to accomplish some life goals.

Mrs Ibru is sick and dying, and while her plea remains a consituted court evidence, let's not loose sight of the bigger picture which is how to improve our financial, legal, and economic systems.

So the Anti-Sanusi guys are a bit  silent here

The fact is,  this is one conviction in a motley crew of uncountable undesirables. Soludo's head should also be on the block too, the auditors who passed those accounts as healthy should be sentenced too. If the other fraudsters cannot be apprehended then justice as we see it today has not being served adequately, we might as well release Madame Ibru,  after all her Bank started as a private concern and the other co-collaborators in this fraud of the century are no where to be found. The dividends and the largesse of this grand larceny are still enjoyed by certain individuals in our society today,  we should not pretend or turn a blind eye to this obvious fact.

I know Oceanic Bank now,  is a stock market listed company today,  and a private concern argument cannot be sustanable, but let us cast our minds to the goings in NSE, another umpire in these rather strange tale of Gluttonic disemboweling, that organisation has also been overwhealmed with fraud and corruption, why hold one of the actors in this unsavoury melee of financial misappropiation and leave the others to enjoy their loot.

Selective justice has always been the bane of our society, and I don't see us correcting this skewd judicial system now OR in the nearest future.  

KnowAll:

after all her Bank started as a private concern and the other co-collaborators in this fraud of the century are no where to be found.

Amsorry!

So it is OK (or more acceptable) for private banks' management to spend depositors' money as they wish?

KnowAll:

I have already put paid to that argument, the Bank is no more a private Bank since it has been listed in the NSE. I would not answer an hypothetical question since it is has no relevance to what we are discussing in this thread.

No, the point is not whether it is now listed or not.

The point is your allusion that it is not (or less of) a crime if the same was done in a privately held bank.

The philosophy is what my question is about.

So it is OK (or more acceptable) for private banks' management to spend depositors' money as they wish?

The operation of private Banks is shreded in secrecy, the word private in its conotations means what it says, to start with nobody know u are a depositor except the bank, so the idea of  u screaming blue-murder when u lose your deposit would not be entertained. You cannot lose what u don't have in the first place.   look oh boy, this is  uncharted territory to people like u and I don't want to bore u with things u don't know. Let us keep to the Ibru story.

Omo_Tier1:

IT IS NOT THE SIX MONTHS THAT IS THE ISSUE, THIS WOMAN IS A DYING SOULD WITH MASSIVE HEART PROBLEM AND SHE WILL NOT LIVE LONGER THAN NECESSARY.