₦airaland Forum

The shareholders are not broke, if they are they will not be challenging the sales of their banks and clamouring for stock market recapitalisation. Let me tell you what I think, I think Sanusi knows that if he allows those banks to go to stock market like he allowed Unity bank to do, Ibru, Ebong , Akingbola and co will still be the ones to pump in money and have a controlling interest in those banks again. And you know that will spell doom for Sanusi because they will appoint the EDs of their choice who will in turn appoint the MD of their choice who will now expose all the alledged looting of Sanusi's MD's management of those banks. That is why Sanusi at all cost will want to merge or sell the banks to his prefferd bidders who will cover up their mismanagement.

Yes you dont return mismanaged banks to CEOs that have broken every rule in the book, the stock market was deflated, remaining investors that have not left to shore up operations in their own country wont sell good stock for badly run banks, they money these 5banks require is another ball game to that of unity and the rest, plus 5-8 banks going to the stock market at the same time- come on, even when the going was good bank spaced out their IPOs. Akingbola,Ibru will have to sell the Dubai shopping complex (bought with loans theyve no intention of paying back or insider trading)- ~Imagine Bankole buying his official accommodation

you have to pay people top money to restructure these banks so they get their monies back from acting big men and look pretty for investors- so alleged looting i dont know

It might not be a Northern agenda anyway, but I am very sure Sanusi has an agenda that he dare not made public. He is acting on a script.

Northern/Islamic script?

As regards the EDW, you know that the fact you borrow money from me doesnt mean that I am richer than you or that you are broke or poor, it might mean that you are sharper than me and you have seen more bussiness deals which I do not see and you dont have enough money to do it. EDW was cheap and it made sense for those banks to borrow from there and invest it in FOREX and co. So, using as yardstick for judging which bank is strong or weak can bring an incorrect conclusion.

The edw was meant to be temporary, almost as the last resort for banks with liquidity issues and those that couldnt borrow from their peers but they parked the bus there not to invest in long term investment but for FOREX, oil and gas and land speculating- that is borrowing emergency money to gamble, goes a long way in showing careless they were. year after year they wrote off huge loans (probably deliberately) whilst the shareholders nod their head in agreement at the AGM. borrowing money from a loan shark because you have seen a juicy offer is not considered smart

Another thing is that as organisation, it is not every time that you will be financially sound, even as human beings, there are times that we will be looking for 1,000 naira and we will not have, that doesnt mean we dont have 1m naira somewhere that we will get in 2 or 3 days, u know what I mean. According to CBN source, Intercontinental had paid all the money he was owing CBN as at June/July 2009. Unfortunately for them, they were judged based on their "EDW unhealthy financial" state as at May 2009. They were sacked in August, why didnt sanusi reverse its decision when he knew that most have those banks had paid what they were owing at EDW.

You are right, and that is why the EDW was set up-for those times you are not financially sound, going frequetly to the EDW shows you are a long term sickler and considering you market share you are a risk to other banks and the economy, what's worse is knowing you have signed off billions of Naira on a regular basis for people rich enough to be featured in Forbes magazine, rich enough to donate N500millions to political parties, buy jets and Yachts competing with fellow defaulters.

kafanchan:
Your first paragraph is not true. Nobody was running out of the country. All the MDs were at that meeting when they were all fired. Fine, Sanusi might say he didnt want the so called guilty MDs to buy their way out and frustrate him from removing them that is why he acted hurriedly; but that is not tenable in a conventional court of law. It is only tenable in Sudan where he schooled. Nigeria is no Sudan.

you can wait for three months when all the other banks have funds in these banks, they will withdraw their money and the banks will collapse!
These banks have borrowed from each other, if one banks gets a whiff of the others insolvency it will pull its funds back pronto and they will be exposed!

kafanchan:
What of Intercontinental bank? Incase you dont know, it is 2 directors out of 4 directors. Formerly there was none.

And you are not right by saying that PHB has 3 out of 13 directors. There is no bank in Nigeria that has up to 13 directors. Unless you are counting with the non executive directors.

If you want to be sincere with yourself, you will know that there is no way CBN will appeal the case and win this case because it involves violation of the natural law of fair hearing. What will they say made them violate the right of the directors to fair hearing? Bros, this is entirely different from the case of "sell the banks" and "dont sell the banks" that depend on how hard  lawyers or analysts argue. This has to do with CBN auditing the banks and not issuing audit query before forming its opinion. Ask any lawyer or auditor, he/she will tell you "Sorry for CBN".
Bros, just be fair or impartial for once, why does CBN insist on selling or merging the banks, why not allow shareholders to pump in more money  through stock market? Remember what Union bank shareholders told Sanusi last year :'Give us this bank, our pension is enough to recapitalise the bank". Why is sanusi insisting on selling it to Habib bank of pakistan?. And incase you dont know, Sanusi has lost many supporters lately, many eyes have opened since his insistence on Islamic banking. Mind you I am not against Islamic finace, but that is not the way it is being done in convetional countries. Nigeria is not a muslim country but Sanusi is trying to implement Islamic banking as if this is Pakistan. I am okay if it is done the way it is done in UK.

I'm not a judge or law expert hence just state my opinion
i just did a quick check on their website, are you saying any northerner director in a bank is part of the 'agenda' ? what about the CEOs?
The shareholders are broke! they cant pump any money when they don't have money, the money required the money they are owing cant be raised on the stock market with their current state, Habib bank is a major shareholder of phb isnt/wasnt it? part of the requirement for new investors was capacity and resources or is it because they are from Pakistan? what if a UK bank comes along would that be suitable?
gaining or losing supporters is not part of the job, I dont know the different btw Islamic banking in Pakistan, UK and Nigeria unfortunately i know it has been in the pipeline during the time of Soludo but now a northerner is there it seems there's an issue with it

She's anorexic!! Mrs rooney's got a thick body  with a thick accent!

How come Punch/SUn newspaper never show Nigerian players doing something outside of the football pitch?
seems the premier league players are busy chasing their salaries
to be relaxing at Obudu cattle ranch

I once asked the question: When Sanusi ordered the "Audit" of all the banks back then in 2009, why did he not wait till ALL THE BANKS have been audited (Unity Banks Audit wa snot yet done by then but some banks have been done) before going to the PRESS and pronouncing some banks, especially those controlled by Southerners, as inslovent?

How can you wait when there are already people on the plane running outside of the country, there was 2-3 months interval
adverts and letters were already flying with propaganda of persecution. there are only two northern bank, and their edw transaction is not as much as the other banks

if/when a northern appoints a northerner it become some sort of agenda but when a southern appoints a southerner its perfectly acceptable ?

oh please the case is not over, you want people to comment of ongoing court cases?


there has been many court cases going left and right;

this is in the same week two bank shareholders lost out, then won again then lost out


WHAT IS THE HIDDEN AGENDA? ITS BEEN TWO YEARS NOW, THIS AGENDA YOU TALK ABOUT LIKE THE 'CABAL' IS NOT KNOWN?

he wants to sell the banks to muslims, he wants to sell it to northerners? he wants to 'revenge' what?

And to make matters worse, he even appointed his Northern friends as Directors, in some of this bank .,.,.and they eventually dug the banks into a deeper hole?

prior to the intervention they were no northern directors? 

just done a quick check, phb: 11 directors 3 northerners

oceanic bank, 3 out of 13 directors

these people could have been there for ages, yet they get accused for being part of some 'agenda', perhaps its a crime for northerner to aspire for any position nowadays

Jos is beautiful followed by Calabar. But i have no doubt that Calabar will soon take over due to Jos crisis and the growing sophistication in the marketing of calabar as the premier holiday destination. They are doing a great job at it!

You think so?

babalawo:
the reasons are clear-language barrier- in getting odd jobs in the uk u dont face such barriers u must be versed in the language to get any soft jobs around.
fees are a little lower than the Uk-also depends on the discipline -mostly with 12k Euros u can get into a grand ecole.Most Government universities even charge less about 3-4k Euros.=Tuition is free in Germany-caveat-if u cant cope with ethnicity in 9ja u wont be able to cope with racism there.

the percentage of those getting odd jobs is getting slimmer, with an opportunity to learn a second language outside the classroom and save on tuition fees- France should be a decent choice

[quote author=Ileke-IdI link=topic=692805.msg8546326#msg8546326 date=1308459758]I guess there's something to be proud about.[/quote]A Nigerian parent will disown him/her?

or they will send him some holy water to wash away the 'evil kissing spirit'

If all these cities are so wonderful to look at WHY DON'T PEOPLE TAKE PICTURES?? (not professional pictures of some agencies)

CALABAR _{funny how many people talk about Obudu but they never take pictures?}

TARABA state!! the most understated!! (i'm not talking about development)

in addition to that, anyone that does what you want say for example comes in early,look alert or neat, commend him/her- the ones that do the right thing give them a bit of preferential treatment

If they had inductions (code of conduct) when they started try to read it to them everyday (like an assembly) or just to the ones that are misbehaving
telling them the Boss is requesting a weekly incident reports

Make them know you have the backing of the Boss

ignore the murmuring, old people can be tough to work with esp with

chei

The 'DO YOU KNOW WHO I YAM' as already crept in here

O Critika

Governor Jonah Jang of Plateau State has advised his former deputy, Pauline Tallen to "eat her pride" and apologise to her people of the southern PlateauAccording to him , it is only by so doing that he would forgive her, "especially when she has chosen to disgrace herself."

Were they dating whilst in office? they are not even in the same party yet he wants to forgive her?


he knew the younger generations can lead, why did he contest in the first place, so many senile politicians around!

well, thing is the whining/complaints usually gets result or keep those in 'authority on their toes! Unlike my gidi

reindeer:
oh you'd be shocked at how many people like this prowl the streets in Nigeria. Some were medical school dropouts, some didnt even go to school, some are nurses working in hospitals, some are lab scientists and many are just cleaners in the hospital.
The problem is there is no surveillance and the Medical and Dental Coouncil of Nigeria isnt helping matters.
If you visit the website for the GMC in the UK you can quickly check the registration and license status of any doctor working in the UK, all you need is just the first 2 names and sex.
the MDCN needs to have a fully functional website with pictures where people can check the registration of doctors, that may help reduce quackery.
Only God knows how many people the country loses to this sort of behaviour every year.
Let me not even talk about all those ones running around the health board on nairaland claiming to have a cure for everything (diseases they dont even understand).

Rudolph is not defending this Dr even criticizing the medical council-- ?? Shocked!!
The same 'avenue' you swore was very competent to deal with complaints!!

that's interesting, i wonder why many propective students are fixated on the UK

What's the cost like compared to UK/US- tuition and living?

Do they teach in English?

So

I hope they will be conductors on the Fashola rails, fine or throw off any 'I'm a banker' type

or they should just jam all networks

Vickade:
hi crazy??

LETS RUN ADVERTISING AGENCY/PUBLISH BRANDING AND LIFESTYLE MAGAZINES

(1). I[b]'m victor. i work in the creative/strategic department of an experiential marketing communication/advertising agency in lagos. I'm a creative writer/conceptualist/idealist/branding executive/assisting graphic artist. I'm a proofreader, editor, scriptwriter, copywriter and a strategic thinker. i had stints with PR and journalism. i had once ventured out alone into advertising but nigeria factor forced me back into employment.[/b]

I'm creative, intelligent and has packaged worldclass ideas. some hijacked by a bank, another by a top telecom company in nigeria.

i have several worldclass ideas in my archive that can turn things around. having learned few creative politics with my ideas, i could run things in advertising. if you have the money, lets hit nigeria with a crazy ad agency.

(2). i have also packaged some creative magazines waitin to be oxgenated with finance; they are CorporateMafia, Brands, Yeepa, Eko Akete, etc. lets run something big men. you can reach me on 08051884470. lets talk.

Bros only you with all this talentsssssssss

The case has been adjourned to September 26.

enough time to remove govt money sustaining them

court case upon court case

_{oh shoot, for some reason i thought i was going to see sefago}

190 wont be allowed on a plane, he's been banned!

@igelomo, it's not an 'attack'

erico2k2:
@ p of P
that was what I meant in my initial post, they never bothered to show how easy or how common it was to get a British VISA,that was left out .

in this particular one they didnt, their focus was obviously on something else, I dont know about common but there has always been one programme or the other showing how people enter/stay in the country, several artciles by the same people you accuse of 'targeting' nigerians, exposing their own loops holes

Panorama : http://www.bbc.co.uk/programmes/b00ztfq1

How to get a sham marriage

these programmes/stories are all over the internet what more do you want them to do, go and put it in Nigerian news papers to show they are not just targeting nigerians?

and all the news we read in the independent, the sun, daily mail-about workers in the home office being arrested here n there are those news investigations by Nigerian journalists?

they have been restricted for a loooooooooooong time, many of them will get off on a caution some will get criminal records

demonstration of craze is good for the system once in a while

Evil Brain:
The drainage problem is nowhere as bad as it used to be. The rain this morning was crazy and all the roads around my house were flooded. But by this afternoon, everything had cleared. In the old days, the flood would last for days. There used to be parts of Lagos (e.g. Mushin) that were flooded even in the dry season. You can't condemn Tinubu and Fashola because of a little flooding after a typical Lagos monsoon.

Also, the blame for the flooding goes to all the r.etards that throw dirt, rubbish and pure water bags into the gutters every day. It amazes me when I see people throwing crap on the road and in the drainages, and then complaining when there is flood. Adeniran Ogunsanya street in Surulere was rebuilt less than 6 nmonths ago and the new gutters are already blocked in several places. The nearby Akerele street is not even half completed and yet the gutters are half-full of pure water bags. The government can do little to fight the army of m.orons who are fighting progress tooth and nail.

Nothing good old strong hand tactics cant reduce/eradicate! start another 'agency' with koboko and outrageous fines, then dump huge bins in strategic locations, when husbands start coming back from work to meet an empty house and a letter stating their wives/housemaid are in psychiatric ward, they will change little by little  
and market traders too when they keep going home without their daily profits them go hear word or move to another state

hercules07:
Victoria Island is the worst hit when it comes to flooding, it is partly due to bad drainage system, blocked drainages, people building on the drainages and the sea level issue, Lagos Island is well drained, the Central Business district is very very well drained, most of the mainland is also well drained though we have a lot of blocked drainages.
T[b]he Fashola goverment needs to demolish a lot of houses [/b]and should work on the drainages, Lagosians need to stop blocking drainages, they need to stop throwing rubbish in the drainage system, we also need our drainages to be fully covered.

cough cough, when houses were being demolished some years ago.      .      .     .

I actually though VI and all those 'new cities' were properly planned by those investors/building planners,

wow!!!

kabukabu50:
Hush indomie boy, eat some real food, abi you cant recognize proper cooking?

Nothing in that picture is cooked! isnt that seared fish, sea weed , cucumber, lemon and chives cream

proper cooking? abeg o

dayokanu:
https://images.icanhascheezburger.com/completestore/2009/4/20/128847344485080355.jpg

[img]http://static.divbyzero.nl/facepalm/doublefacepalm.jpg[/img]

Your head dey there!!!! correct guy