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Nairaland Forum / Nairaland / General / Business / Why CBN Sacked First Bank Board — Emefiele (Full Text) (22809 Views)
First Bank: Otedola Asked Folake Ani-Mumuney To Resign After ‘Lavish’ Party / Why CBN Sacked First Bank Board — Emefiele (FULL TEXT) / Money Laundering: CBN To Sack Non-complaint Bank’s Board, Staff (2) (3) (4)
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by iammo(m): 12:40pm On Apr 30, 2021 |
Emefiele is really angry this days 3 Likes |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by ebig21(m): 12:41pm On Apr 30, 2021 |
orisa37: The CAmA just governs a little aspect of financial institutions. The enabling law is BOFIA. Banks and other financial institutions Act. Which enables the Central bank to regulate the board of financial institutions |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by dahmie2013: 12:41pm On Apr 30, 2021 |
Case closed! 1 Like |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by nauto: 12:42pm On Apr 30, 2021 |
regulator now the boss |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by kolexy(m): 12:44pm On Apr 30, 2021 |
FarahAideed: In connivance with some shareholder groups. |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by Sufferingboy(f): 12:47pm On Apr 30, 2021 |
God bless Emeifele. Ni ika rimma. Obi owa(HRM Emmanuel Efezormor) tor neyife Ise. |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by feedthenation(m): 12:49pm On Apr 30, 2021 |
---Due financial process and due diligence not been followed by the custodians of FBN---- |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by CocoaOla: 12:53pm On Apr 30, 2021 |
CBN governor The most important now Naira is 485 to dollars Inflation is 22% highest in the world in months Low quality Locals products are more expensive than higher quality imported one Minimum wage is not increasing salaries are being slashed A nation that over look the most important thing or play evil politics with masses warfare will fall without assistance |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by iamdapsyj(m): 1:02pm On Apr 30, 2021 |
FarahAideed: If the board didn't give themselves loans without following the required process, this "coup" as you called it wouldn't have materialised. Most of those at the Board of Nigerian Companies do alot of damage through the act of taking loans that eventually turn to bad debts because they didn't follow due process. An example is Dunlop Elite. Infrastructure was a problem for them no doubt but what contributed more to their downfall was bad management that mentioned earlier. Thank God my dad retired when he saw the signs and collected his benefits. Those that stayed put didn't collect shi shi from the company before it eventually went under. The CBN in my opinion is right this time. 1 Like |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by showlove911(m): 1:04pm On Apr 30, 2021 |
IBIKUN AWOSIKA That woman talk too much. Forming motivational speaker while being a board member of institutional corruption and financial misappropriation. The last two past MD ,Bisi onasanya almost crippled the bank upon his departure. CBN literally came to Firstbank's aid to avoid bankruptcy. Evri of our staff knw dis tins to be true! This pple eat fat salaries while dishing out peanuts to contract staff as salary. Meanwhile we are the foot soldiers. Later, madam will be hosting/attending conferences, speaking grammars as if Shez beret of the ills of the bank. It is a bad thing for good to be silent when evil prevails. But it is a very dangerous thing for good to provide the platform for evil to be celebrated. CBN got this one right! 6 Likes |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by aspabay(m): 1:05pm On Apr 30, 2021 |
where is shegzhkn, Lucas10 and Marvieduke, who are asking what is CBN's concern with how a bank operates. Ignorance never had a better definition. 1 Like |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by SavageResponse(m): 1:06pm On Apr 30, 2021 |
CocoaOla: There's very little the CBN governor can do to stem the slide in value of the Naira. Nigeria's balance of payment is negative because we spend more forex on imports than what we earn from exports...to make matters worse citizens like you prefer to buy all manner of imported inems instead of patronising local substitutes! Help save the Naira, buy local rice instead of imported ones, buy Aba made shoes instead of imported ones, by Nigerian made cornflakes instead of imported ones etc! 1 Like |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by Nobody: 1:08pm On Apr 30, 2021 |
FarahAideed: The bank had received bailout funds to stabilize its shaky foundation since 2016 financial year. The CBN was, in effect, a receiver / manager propping up a private business that was deemed too big to fail. How could they justify acting as though they were independent? 6 Likes |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by Yankee101: 1:10pm On Apr 30, 2021 |
Cos they were working to cover Otudeko |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by andyview(m): 1:17pm On Apr 30, 2021 |
SavageResponse:The simple truth. |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by CocoaOla: 1:22pm On Apr 30, 2021 |
SavageResponse: TELL THE WICKED DUMB NIGERIA GOVERNMENT TO STOP IMPORTING IT OWN REFINED OILS Tell that to your leaderships who buy 800 house in Dubai With scarce fx, Tell that to Buhari who patronize foreign health care for ordinary check up Tell that to politicians who resumes their daily duties from abroad Tell that to politicians who send their children out to study abroad Tell that to politicians who make Nigeria un-bussiness friendly with bad policy and over taxations/monopoly Tell this this to politicians who prefer to settle bandit and kidnappers tax payers money's Tell politicians that all factories are running on diesel cost of doing business in Nigeria is too much Tell politicians to stop Devaluing the naira currency it chase investor away Nigeria government is the epitome of disasters to it own masses 1 Like |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by Lama70(m): 1:25pm On Apr 30, 2021 |
I want to systematically agree or disagree with you after I have systematically studied the situation in a manner that i systematically deem fit. However, I want to remind you that you have systematically either done the right thing or the wrong thing. Systematically yours from, NL. |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by michoim(m): 1:30pm On Apr 30, 2021 |
NwaNimo1:PDP meaningless attacks. PDP is a bad electoral loser.. |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by bigtt76(f): 1:37pm On Apr 30, 2021 |
Where do they get these directors from sef? Does CBN have a pool of prospective directors or what? I wonder how the MD and DMD would work together now observanc1: |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by Reference(m): 1:47pm On Apr 30, 2021 |
Yankee101: Why can't he be declared insolvent and his assets confiscated to repay. What is AMCON waiting for or is there something else happening....perhaps the Oba is too big to fail as well...such that even the CBN guv cannot call him or his interests by name. |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by Nobody: 2:00pm On Apr 30, 2021 |
For those who are just reading on the surface - this is the real politics and shenanigans that you hear of but don't know the deal. CBN is in bed with both parties and have just offered a compromise |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by shegzhkn: 2:06pm On Apr 30, 2021 |
aspabay: Will you shut the hell up son. Look at what just happen, does it make any sense to you. An unstable entity (CBN)is acting as an arbiter of what is right, one again Misplaced priority. |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by sowilli: 2:07pm On Apr 30, 2021 |
People, people and people. The state of any brand you see reflects the people. Sanusi and Bisi onasanya did excellent jobs to make this bank number one bank in Nigeria. They have been stable even in the times of shake up by soludo with little or no tangible acquisitions now some persons have morgtated those efforts because of selfish interest. Only if majority of we wealthy Nigerians can be less selfish. |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by Yankee101: 2:08pm On Apr 30, 2021 |
Reference: Your bank has to report you to AMCON, that's why he kept his people in place. They restructured his loan, making it new, against CBN instructions to collect immediately. The CEO should have been sacked too for going along, but man know man or bribe go don happen |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by Nobody: 2:18pm On Apr 30, 2021 |
Nigerians just like to murder English anyhow, the sad thing is this is coming from the highest levels of government. Who is their press man? Do they not know the meaning of "purported"? purported means an allegation that may or may not be true. you are confirming a sacking so why use "purported"? the heading should read "GOVERNOR’S STATEMENT ON MANAGEMENT CHANGE AT THE FIRST BANK OF NIGERIA LTD" |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by daywatcher: 2:24pm On Apr 30, 2021 |
Is FG or CBN the owner of First Bank? |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by Oyiboman69: 2:27pm On Apr 30, 2021 |
doggedfighter:has any thing good come out of this government?... Just sit and watch how events will unfold.... 1 Like |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by mmsen: 3:49pm On Apr 30, 2021 |
Sounds like the usual nonsense of giving loans to friends and family that seems rife within African banks. |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by Agbegbaorogboye: 3:49pm On Apr 30, 2021 |
thebosstrevor1 read again and get a proper English interpreter |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by WaffenSS(m): 3:54pm On Apr 30, 2021 |
NwaNimo1: Didn't know APC could print US dollars |
Re: Why CBN Sacked First Bank Board — Emefiele (Full Text) by iamdapsyj(m): 3:56pm On Apr 30, 2021 |
showlove911: Do you even know that the private company of mrs Awosika is even struggling as well as we speak. Most of her staff are been owed salaries for months, though it was partly because of the covid but she seem to be losing the managerial prowess she had at the beginning of her career. Its sad to say all this because she is a pastor in my church (TFOLC) but one have to just say the truth. |
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