thebosstrevor1:


Bad trait indeed, you won't be the one to tell me what to believe and not believe.

I am not your mate, best listen to words of your elder.

thebosstrevor1:


I will never mark a post from a gossip site.

I have never heard about that source before.
The only financial online media i know is proshare, nairametrics and businessday.

You stubborn o

Agbegbaorogboye:

And what if these banks fail? Who do you run to for your money?

There are over 100 banks in nigeria.... if one fails.... there are tons more....

Kirkman:

Can't they arrest and jail that crook called Otudeko or whatever his name is called or sieze his assets that he used for the loan collateral if na poor man take that kind loan that would have hounded him since, hanged him to the EFCC and paraded him around the media as a thief/debtor.

That's definitely happening with the latest pronouncements from CBN. He has been sacked from the board. The next line of action is to realise the shares he used as collateral. And once that is done, he ceases to be the majority shareholder and the bank will have piece.

Case closed.

BigBashiru:

There are over 100 banks in nigeria.... if one fails.... there are tons more....

The tons more will pay you your lost deposit right?
Besides, where did you get the figure of over 100 banks in Nigeria

FuckOsuPigs:


That's definitely happening with the latest pronouncements from CBN. He has been sacked from the board. The next line of action is to realise the shares he used as collateral. And once that is done, he ceases to be the majority shareholder and the bank will have piece.

Case closed.

it does not work out that way o!
otudeko will still keep his shares in the FBN .
the only issue is that of his loans which he owes and that I believe will be resolved and paid back to the bank.
then the bank will now face other bank debts recovery process with a bid to ensure that the bank is healthy (bank speaking)

Agbegbaorogboye:

The tons more will pay you your lost deposit right?
Besides, where did you get the figure of over 100 banks in Nigeria

Yes because all deposits are insured by NDIC.
@ bolded cbn - all commercial and microfinance banks number about 100.

BigBashiru:

Yes because all deposits are insured by NDIC. @ bolded cbn - all commercial and microfinance banks number about 100.

ndic issues up to 100000.pere! if your money is more than that you on your own

BigBashiru:


Yes because all deposits are insured by NDIC.
@ bolded cbn - all commercial and microfinance banks number about 100.

Where was ndic when banks where going under and people's monies got lost. Besides, ndic is not a guarantee that you'll get your money back.
Secondly, you should know the limits of microfinance banks in the Nigerian system. They are not even categorised as DMBs.

Modified: See above. Also note that majority of MFBs are not insured by NDiC. That's why they are not categorised as DMBs by CBN

baralatie:

it does not work out that way o!
otudeko will still keep his shares in the FBN .
the only issue is that of his loans which he owes and that I believe will be resolved and paid back to the bank.
then the bank will now face other bank debts recovery process with a bid to ensure that the bank is healthy (bank speaking)

Otudeko cannot pay back without losing his grip on the bank. The sum we are talking about is in excess of N75 billion. Why do you think this has been on for 4 years when CBN initially asked the bank to perfect the the documents on the shares? It was because Otudeko was hoping to intimidate the MD into writing off the credit. That was exactly what brought this out. The MD has refused to play ball and that pissed him off.

FuckOsuPigs:


Otudeko cannot pay back without losing his grip on the bank. The sum we are talking about is in excess of N75 billion. Why do you think this has been on for 4 years when CBN initially asked the bank to perfect the the documents on the shares? It was because Otudeko was hoping to intimidate the MD into writing off the credit. That was exactly what brought this out. The MD has refused to play ball and that pissed him off.

it has already been rescheduled for him to 45 billion and it will still be rescheduled lower for him

jlinkd78:
This Govt want to make people panic when they have not been able to create anything and the only Bank of reference in terms of healthiness is now being fingered with their leprous hand of mismanagement. This CBN that is supposed to be busy printing billions to be shared across the States as revealed by Obaseki now wants to crash First Bank, regarded as the Rock of Gibraltar Bank, same way big names like Oceanic Diamond Banks , Intercontinental Banks went out of space cos of conflict of interests. Tell me one good thing that has been achieved under this administration of Presidency

nothin good my brother.

thebosstrevor1:


I didn't type anything that was wrong except the forbearance mistake.

Of course you did. You just did not know, because it all looks correct to you.

thebosstrevor1:


Adeduntan wasn't brought in, he was employed by First bank in july 2014.

After the 6 year tenure of the former Md, who retired in December 2015, Adeduntan became the new Md with the support of the board on 1st of January 2016.

You do not still understand how it works. So in your mind, he got promotion to become MD right? That's ignorance man.

The ones that did the permutations, the gladiators of that period brought him in. It was more likely of a Shobo game when it changed and then for peace, a new office of DMD was created for Shobo.

XPresie:


You do not still understand how it works. So in your mind, he got promotion to become MD right? That's ignorance man.

The ones that did the permutations, the gladiators of that period brought him in. It was more likely of a Shobo game when it changed and then for peace, a new office of DMD was created for Shobo.

I hate speculations and rumours.

You weren't there so stop these long talk.