FreeStuffsNG:
The sale has been cancelled and now owned by FG. It was part of the recommendations of the CBN special investigator and it was immediately implemented.

it doesn't work that way. FG take over is temporal.

cucumbar:
keep quiet when you dont know something about a particular matter rather than making a fool of yourself.

Yes, that person is correct. There was massive layoffs.

You didn’t have to be in HR or a board member to know. The people that were laid off weren’t spirits.

People like you are actually disgusting…. ITK.

See him name sef… olobolo. How will you know what’s happening around you?

That is why you name is cucumber...big fool!!!

I work in the HR office and access bank absorbed 98% of diamond bank staff hence no massive layoff. Dont be unfortunate with all your beer palour analysis. Fool!!!!

aspabay:


The last recapitalization created more jobs This will bring in more investment and consequently more jobs

Bloody lies. I have family and friends that were retrenched during the last merger.

KingLennon:
Many workers will be retrenched and the suffering will increase. The banks will increase charges rate and the common man will still suffer it. Who dey advise BAT sef?









When stupid people are at the helm of affairs in the country, the people suffer

Omo plenty Mumu full this platform oooo since they lose election, the Nation must burn. What's more profitable for people to lose their savings because of poor performance of bank than having a strong capital base to stimulate growth in the banking sector.

Go school na lie, na under bridge werey go dey ....dey smoke igbo as an Igbo boy.

Armaggedon:
it doesn't work that way. FG take over is temporal.

It's same as other takeovers. FG will run it for awhile and sell to others later. Right now, Union bank is like Polaris bank and Keystone bank, owned and managed by people directly appointed by the FG through CBN. So pe otilo

Good afternoon the legend of all legends. Baba Easter want Easter me. I fit see something take hold body? No vex no be like entitlement mentality. I just feel like say make I open up to you say area no pure for this stranger side.

LegendHero:


Send App.

It’s from Flutterwave.

Boldideas:


Opay will buy up three banks eventually, sack 70% of the staffs, and still continue doing business.

lol, you are definitely a clown, just last year zenith bank made over 300 billion in profit, same with UBA and access, opay doesn’t even come close, nor let anybody deceive, opay customers are the average Nigerians while the like of zenith n co have customers like dangote, arik, shell, chevron etc, so how is it possible for opay to buy what is bigger than them.

Dialpad:
Will this not lead to layoffs and closure of branches etc

I see them using less human to significantly reduce costs

This has nothing to do with lay off of staff, in the medium term, it may need more hands on deck.
What the banks need to do is to approach the public for subscription of their shares. They also need more funds inflow by investors

Oyerinde16:
What it means is that.
1. Banks must have 500b untouched in reserve, they can only take it or cash it if they want to close or shut down the bank.
2. Banks will begin to look for ways and means to gather this money, either by savings, merging, borrowing and or using stringent or dubious methods to get the money.
3. Banks would need more marketing staffs to pay less but bring in more money into the bank.
4. Most banks would borrow to stand alone then spend years paying back the loan
5. Some banks would just merge to meet the target then consolidate and move on without owing.
6 you can add your own

Ok nice one.
Some banks will have to open more foreign branches and raise more capital from offshore

Henrydata:


What of wema

Wema still exist?

richidinho:
GTB fall my hand

With all their noise, they're slightly above union and you'd be shocked to find out UBA and Zenith are below Union bank.

...that money is still in circulation. It doesn't get desposited with CBN....and your bank charges are your earnings that becomes part of your net incone afterwards which is shareable as dividend or spendable as part of retained earnings, as you wish...now tell me how that helps you reduce inflation??

Dobodobo04:


Banks would have to get the money somewhere?

They would charge customers more interest on loans, pay less rates on savings, etc. Would u agree?

Trojan8:


Beer parlor talk. Access Bank's PROFIT AFTER TAX for 2023 was 619BN naira. Opay kor, no pay ni.

How many industries money are they calling profit after tax? They're not doing enough for our entrepreneurs and they're declaring this kind of profit and CBN too is allowing it.. What business are they doing that is bringing in this returns and Nigeria is bedevilled by unemployment saga!

43Ronin:

This is just textbook definitions. The economies of scale in mergers benefit mostly manufacturing companies or commerce based companies. Banks are service companies and their economies of scale might even be negatively affected because costs have doubled with staff having duplicate functions. Below is a disadvantage of mergers according to CFI- the owners of CFA certification. Now who's illiterate

Thanks for engaging in a civilised manner on this reckless contraption put together by Seun Oshewa.