Please i need to know if i should remove my money from Afribank following the revocation of their license by CBN. Please professional advice needed the money could be change to some people buh to me it means a lot.

you can withdraw your money, nobody will stop you. even if the bank was to be wound up, NDIC will still pay you your money eventually it will only just take time

as it is right now, you can walk into any of the bank branches and make withdrawal

Afribank for now is safer than all other banks in Nigeria even the sound ones!Dont even bother yourself because you dont know the game plan awaiting those sound banks tommorrow.

@OP,
you money is safe! in fact, the attitude of the Bank staff i interacted with today was more like "if you wish to withdraw all of your money, please do! this Bank ain't going down any time soon." I was later made to understand that fresh funds to the of =N=679Billion was injected today into the three banks. so my dear, I'll advise you to sleep with your two eyes closed.

http://www.vanguardngr.com/2011/08/afribank-co-amcon-acquires-bridge-banks-injects-n679bn/

No problem with anybody's money. The problem is when people indulge in panic wuithdrawal.
Only shareholders may have some wahala

Very safe. Safer than b4 now.

The banks b4 now have negative shareholders fund.

They are now 15% above the capital adequacy requirement with the injection of the new funds.

So, they healthier and safer than b4 the CBN took them over in 2009.

Please I need ur Urgent Response on ,

How can a customer get ATM Card through Mail/Post without going to Bank Branch for collection in Nigeria and Abroad?

In details Please!!!.

Thanks.

Does anybody have good info on the status of deposits in fortune international bank? My loot is still with them. Thanks in advance.

The nationalisation of the three banks (afribank, BankPHB and Spring bank) involves recapitalisation by AMCON. The MD of NDIC has said that neither depositors' funds nor the jobs of the staff of those banks will be affected adversely.

I hope we can take his word for it and he won't later say he was quoted out of context.

GO and remove your money QUICKLY!!!

Just go get your money out of those stuupid banks.

Hmm. today i was in first bank and i notice a very large crowd, so i muttered by saying what a MONDAY. Then i notice a handful of them are busy with positioning their passport on the account openning forms. So i enquire from this pretty lady whats on, then she said "ah oga u want may dem chop my money" and i calmly said "haba why you dey fear?" and she replied"ok since you dey run charity go open account there nah" and "all my freinds don comot their money there". . ."which kind name even be bridge banks, Sef?"
That was my tale. . .though i'll do theasme if am to be in her position. . .

Majority of those discouraging from taking your money out are either marketing agents or staffs in those failed banks displaying the greed & wickedness that led to the crashing of the BANKS. . , A word is enough for the wise.

Please, to avoid " HAD I KNOWN" i would advise u withdraw your cash and change to a bank with a stronger capital base and financial standing.
If the bank folds, you must understand that the process of NDIC refunding your money is very ardous and most times ineffective, because not all customers get their total refund. "make hay when the sun is still shinning".

Why are you gambling with your little savings, plaese withdraw all the money tomorrow and go straight to the nearest 1st bank and open an account.

GO AND WITHDRAW ALL YOUR MONEY SHARP SHARP! Remember savannah bank and be wise. The hurried way the 'bridging' of those banks was done suggests sinister motive. A word is enough.

NAIIIIIIIJAAAAAA, i hail we know how to make things worse by our innuendo's and false comments


No need to have a run on the banks, this no be military era wey dem go just shut bank tell u make u go die. the only losers here are the share holders of the bank, value don go down kpata kpata. but ur deposits are very safe.

I understand the fear we have, most of us wey dey in our late twenties and up still dey remember dem days of liquidated banks and both deposits and shares bin dey vamoose, the truth is it was illegal then and it is illegal now. NDIC should have covered depositors funds, because the banks are required to have a reserve with the CBN and are meant to be insured up to a certain amount that will reasonably cover depositors funds

Banks are not safe no matter where it is in the world

I had asked this pertinent
question b/4: "what is the guarantee
that the new banks will succeed where
the former failed?". The fate of these
3banks is in serious jeopardy. It would
have been preferred if each of the
banks was collapsed into the existing
banks that are sound. I just foresee mass
exodus of customers from these banks.
More explanations/convictions are
required from the CBN Governor plse!

Please your money is safe in the banks recently taken over. I see some panic being spread by ignorant posters. Make no mistake, a run on ANY bank will bring it to it's knees- Whether sound or unsound. The time to run passed ages ago, and nothing happened even.

pls i need help oh. Am a shareholder in bank phb, now dat their license has been revoked, what do i do?

Your 'wealth' is gone with the old coy.

In fact, if it were a partnership or a sole proprietorship biz, you would have been called to make up the negative reserve the old coy (phb) died with. Thank your God it is a Plc where the coy has a seperate personality from the owners.

This is so cruel of sanusi. That means people/investors that have shares worth millions of naira have just lost out overnit without any form of compensation? O ma se o! @op, forget d grammar and sweet talk of 'ur money is safe' withdraw all now, dis is naija. Who cares if there's a run or not, or d bank goes on its four legs. D process with NDIC could take 2yrs just to take 50k. Collect all ur money now.

i've been watching sunrisedaily on channelstv, according to them 'bankphb is now keystone bank ltd'. Im still waiting to get more details on what will be of d shareholders.

Me ive gone to remove my money this Mrng from Afribank. though i did not close the account cuz i left a safe amount inside.Honestly, to before warn is to before harm. I cant sart bearing the brunt of a power struggle between banking Mougules or suffer as a result of failed management!! I don talk my own o!!!

Facts:
1. Your money is safe in Keystone, Mainstreet and Enterprise Banks.
2. Those banks are at present, the safest and strongest banks in the country, having been injected with more funds.
3. NDIC guarantees instant refund up to N500,000 if any conventional bank fails in Nigeria, and N200,000 for Micro-Finance Banks and Primary Mortgage
Institutions. This represents about 70% of all deposits in Nigerian Banks. However, the three new banks are not failing in the near-future.
4. The three nationalized banks were at the brink of dying, before the intervention.
5. The ultimate beneficiary in the whole mix is the economy of our dear country and depositors, whose funds are now 100% safe in thos banks.
6. The ultimate loser is the shareholder who would get nothing from the banks, since the banks they had shares in, no longer exist. And, each of the old banks
was sold for N1 (one naira) only. This was because their liabilities were in billions of Naira more than the assets. Their buyers (AMCOM) are injecting much more money in each of them, than would be required to start at least 25 new banks from scratch, due to their huge debt and liability portfolios.
7. The era of rogue banking is gone, forever. Kudos to CBN and NDIC!

do not be scared i work with afribank i can guarantee u that ur money is safer now. welcome to main street bank

Well still give me one reason to bank with a Nigerian bank when I can offer the services to myself by myself. All I need do is get me a piggy bank hidden somewhere. Money is not safe with this fools. THey offer nothing in return for my money which they trade with. I can't get loan or overdrafts no real service than just a safe. The only fear would be keeping huge amount of cash at home. Its just an institution that help keeps money in their vaults and nothing more. Mortgage na wahala, anything that has to do with them paying or helping customer is always hard to get

Toladipo:

do not be scared i work with afribank i can guarantee u that your money is safer now. welcome to main street bank

instead of throwing my cv's around i was busy still marketing for intercontinental bank in 2009 when sanusi first came. D rest they say is history. My dear friend its only a matter of time. Run while u can!

Nobody has faith in the nigerian system,hence the panic

If i were to be in your shoes, i wouldnt waste one second. Go get ur money!

You pple saying dat pples money is safe,you better keep ur mouth shut and allow pple to go and collect their money gently , and even and toladipo dat is saying he/she work in afribank dat pple shld not be scare , is he/she sure of her/his own job self not to talk of pple's money