₦airaland Forum

@MrCrackles, Mikeansy and co, considering ur level of exposure, I am amazed at your views on this topic.

What setback are we talking about? These people are CEO's who acted in the interest of the bank and its shareholders. If these loans had performed as they expected, it would have translated into huge profits and dividends for the shareholders. Everyone would have been happy and nobody would have arrested the bank CEOs for "ripping off customers"  Unfortunately, they didnt perform and you remove them, which is ok, but why arrest them and continously detain them? What crime have they committed? They took bad decisions and that was it. the worst that should happen is that they lose their jobs, which they have, so WETIN AGAIN?

I wonder why they are running when they have not committed any real crime?

Jarus for president

Me o, I think the CBN guy, Sanusi is very rash in his decision making. I see him as someone who is out to prove a point, no matter the cost. I see him as someone who wants to be seen to have done better than his predecessor, Soludo.

Lets look at these points-

this guy has only been around just two months, conducted an audit on a few banks and sacked CEO's of these banks. I think this could have been better handled. since the issue is that of bad credits, he could have quietly called the affected bank CEO's, given then an ultimatum to do a recovery, after which he might have sacked them if they were not able to clean the books. I believe they deserve that opportunity at least for having founded the banks and made the banks what it is today(Ibru and Akingbola especially)

If he was not rash, why not complete the audit exercise of all 24 banks so that he would have sacked them all at once? the entire process would have been done one-time.

I feel he could have quietly involved the EFCC and sent letters to the debtors to pay up within a stated time frame after which he would then have published their names. we can all see what is happening in the aftermath of the publication. some of the debtors are disputing the facts stated and they really have a case. some of them had regularised or had started servicing the credits as was expected even before this shake-up. The CBN is now being made to look foolish for not doing its homework well. The CBN is now saying- "we were working with facts given to us by the banks as at May 2009". Why not reconfirm before going to press knowing fully well a lot could have happened between May and August??

Besides, its not a crime to collect or give out loans as a bank. As a matter of fact, if loans are not given out, there will be no banks as that is where they make their profit. I do not believe it is right to say "yes, I want to see some of the CEOs go to jail" as Sanusi said, because they have not committed any crime. They took a bad business decision and that was it. So until it is proven that they were beneficiaries of these credits, EFCC has no business arresting them or chasing them all over. Besides publishing the names of bank debtors without warning contravenes the key banking concept of CONFIDENTIALITY which Sanusi must very well be aware of.

Sanusi's actions has now placed these banks and the entire industry for that matter at the risk of collapse. Investor and depositor confidence has dropped and the long awaited recovery of our capital market has taken a U-TURN since this saga began.

Pls get me right- I am not saying everything was well in the industry before then. I just feel the situation could have been better and more maturely handled.

trap203:
NIGERIANS MUST BEWARE OF PROPAGANDA!

Why this talk about EFCC and arrest and detention?

What crimes are the bank chiefs supposed to have committed?

“The CBN accused the sacked bank executives of excessively high level of non-performing loans, attributable to poor corporate governance practices, lax credit administration processes and the absence or non-adherence to the bank’s credit risk management practices,” reads a news report.

Are these also cases for the EFCC now? With all the brazen stealing going on at all levels of government in Nigeria?

The CBN says the Liquidity Ratios of the banks ranged from 17.65% to 24% as at May 31, 2009, while the regulatory minimum is 25%. While don’t you help them attain the minimun threshold, as they’re not too far from it, without behaving like a bull in a China shop?

Please note that the bank chiefs are in most cases the majority owners of these banks. Ibru and Akingbola founded their banks.

These banks are not federal parastatals.

It’s true that central banks have the powers of intervention all over the world, but are sparingly used; mostly in cases when banks are not able to fulfil their obligations to their depositors and creditors. Not to do what Sanusi is presently doing, to dispossess Nigerians of their legitimate properties and award them to members of his Fulani race.

Bankers in the West who plunged the global economy into recession with their reckless investments were not arrested. Most are in fact still at their posts and have started turning their banks around.

Are we all illiterates in Nigeria?

What are banks for when not to give out loans?

Here in Europe, every of our puchases, from household entertainemnt appliances like flatscreen TVs to our cars, are financed by banks. And when you lend out so much, some of the loans will not perform. Because of the recession and the attendant high jobless rates, many European banks are in fact now saddled with hundreds of billions of euros of consumer debts, non-performing loans.

These issues of non-performing loans are just being sensationalised because the schemers know that Nigerians are gullible people.

Which banks anywhere in the world don’t have bad debts?

While I don’t want to hold brief for the debtors, that a company partly owned by Oba Otudeko, for example, has a non-performing loan at a bank does not make him an undesirable element. Businesspeople have investment in many companies, some of which fail.

It goes like this: because Mr Obi Adeyemi Abubakar is a successful businessman, Smart Alec, an entrepreneur with a brilliant idea, approaches him to co-promote his venture. And they both form a limited liability company, say A & A. If unluckily, A & A fails and ends up with a load of debt with banks, you can’t expect Mr Obi Adeyemi Abubakar to pay the debt with his other assets, which have nothing to do with the new venture.

That is the way it’s all over the world.

While Chrysler and General Motors are owing billions, their major/institutional shareholders, who also own shares in other companies cannot be expected to pay the debts of the two automakers with their other assets, which are not connected with Chrysler and General Motors.

And since these are limited liability companies, the assets of the companies are the only eligible assets for confiscation in case of loan default. That is elementary business practice which any educated Nigerian, educated enough to have access to the Internet, should know!

On the issue of Transcorp; this government has repeatedly sabotaged the company because it’s owned by Southerners. All efforts by the company’s management to improve its fortunes were sabotaged by the regulatory agencies.

And when the government finally decided to reverse the sales of Nitel to Transcorp, why has it not refunded their money (500 million US dollars), which they know was borrowed from Nigerian banks? Immediately, they reversed the sale of Nitel, they appointed a Fulani man as the MD. Now they want to sell the company piece-meal to investors because they also cannot manage it.

The true intention of Sanusi is to change the ownership structure of Nigerian banks. He says he wants to call in so-called core investors to shore up the capital basis of these banks. But there is a catch to it. He would first as a punitive measure deplete the original shareholders funds by using them to pay the non-performing loans given out by the banks. Which in essence means that they want to sell the banks for peanuts to their preferred Fulani investors.

Please let us think! Time to start resisting Fulani colonialism is now!

May God bless you for this insightful write-up

I seriously dont know what this thread is all about.

what monopoly are we talking about? This family has contributed their quota to Nigeria's development and created thousands of jobs. Whats bad about that? you talk about anti-trust. Has any fact ever come out that they have in a way monopolised or tried to monopolise supply or operations in any of the industries they have a stake in? This is just plain beef. Rubish!!!!

Me o, I think the CBN guy, Sanusi is very rash in his decision making. I see him as someone who is out to prove a point, no matter the cost. I see him as someone who wants to be seen to have done better than his predecessor, Soludo.

Lets look at these points-

this guy has only been around just two months, conducted an audit on a few banks and sacked CEO's of these banks. I think this could have been better handled. since the issue is that of bad credits, he could have quietly called the affected bank CEO's, given then an ultimatum to do a recovery, after which he could have sacked them if they were not able to clean the books.

If he was not rash, why not complete the audit exercise of all 24 banks so that he would have sacked them all at once. the entire process would have been done one-time.

I feel he could have quietly involved the EFCC and sent letters to the debtors to pay up within a stated time frame after which he would then have published their names. we can all see what is happening in the aftermath of the publication. some of the debtors are disputing the facts stated and they really have a case. some of them had regularised or had started servicing the credits as was expected even before this shake-up. The CBN is now being made to look foolish for not doing its homework well. The CBN is now saying- "we were working with facts given to us by the banks as at May 2009". Why not reconfirm before going to press knowing fully well a lot could have happened between May and August??

Besides, its not a crime to collect or give out loans as a bank. As a matter of fact, if loans are not given out, there will be no banks as that is where they make their profit. I do not believe it is right to say "yes, I want to see some of the CEOs go to jail" as Sanusi said, because they have not committed any crime. They took a bad business decision and that was it. So until it is proven that they were beneficiaries of these credits, EFCC has no business arresting them or chasing them all over. Besides publishing the names of bank debtors without warning contravenes the key banking concept of CONFIDENTIALITY which Sanusi must very well be aware of.

Sanusi's actions has now placed these banks and the entire industry for that matter at the risk of collapse. Investor and depositor confidence has dropped and the long awaited recovery of our capital market has taken a U-TURN since this saga began.

Pls get me right- I am not saying everything was well in the industry before then. I just feel the situation could have been better and more maturely handled.

your take,

Me o, I think the CBN guy, Sanusi is very rash in his decision making. I see him as someone who is out to prove a point, no matter the cost. I see him as someone who wants to be seen to have done better than his predecessor, Soludo.

Lets look at these points-

this guy has only been around just two months, conducted an audit on a few banks and sacked CEO's of these banks. I think this could have been better handled. since the issue is that of bad credits, he could have quietly called the affected bank CEO's, given then an ultimatum to do a recovery, after which he could have sacked them if they were not able to clean the books.

If he was not rash, why not complete the audit exercise of all 24 banks so that he would have sacked them all at once. the entire process would have been done one-time.

I feel he could have quietly involved the EFCC and sent letters to the debtors to pay up within a stated time frame after which he would then have published their names. we can all see what is happening in the aftermath of the publication. some of the debtors are disputing the facts stated and they really have a case. some of them had regularised or had started servicing the credits as was expected even before this shake-up. The CBN is now being made to look foolish for not doing its homework well. The CBN is now saying- "we were working with facts given to us by the banks as at May 2009". Why not reconfirm before going to press knowing fully well a lot could have happened between May and August??

Besides, its not a crime to collect or give out loans as a bank. As a matter of fact, if loans are not given out, there will be no banks as that is where they make their profit. I do not believe it is right to say "yes, I want to see some of the CEOs go to jail" as Sanusi said, because they have not committed any crime. They took a bad business decision and that was it. So until it is proven that they were beneficiaries of these credits, EFCC has no business arresting them or chasing them all over. Besides publishing the names of bank debtors without warning contravenes the key banking concept of CONFIDENTIALITY which Sanusi must very well be aware of.

Sanusi's actions has now placed these banks and the entire industry for that matter at the risk of collapse. Investor and depositor confidence has dropped and the long awaited recovery of our capital market has taken a U-TURN since this saga began.

Pls get me right- I am not saying everything was well in the industry before then. I just feel the situation could have been better and more maturely handled.

your take,

webdezzi:
on the reply page, scroll down to the crap to want to respond to

hit "insert quote" and say ur mind afterward
"insert quote" link is right next to each post.

Thanks a lot, man!!!!

some one please teach me how to respond to a post, such that the post I am responding to, will be copied and highlighted above my own response

BREAKING NEWS!!! a friend of mine who is a jouranalist with one of thenorthern newspapers just called me from maiduguri.
He was arrested in the course of covering the crisis, mistaken as a member of the sect. so he, alongside about nine others, were taken to the Force headquarters where he was released as soon as he was properly identified.

While he was at the police station, the BOKO HARAM leader, Yusuf Mohammed was brought in. Some of the Police men quickly suggested that he be transfered to Abuja while the Commander of the Military task force, the Major General(Dont know his name) and other policemen disagreed. their view was that it would prolong things and start a series of court cases and "stories" that could end up in the guy being freed. So they decided on Jungle justice- to settle it out of court and for ever. The guy was brought outside the PoliceHeadquarters where he spoke in Hausa language that he knew he had done wrong and he wanted people to pray for him. his pleas fell on deaf ears as he was placed by a wall and repeatedly fired at by soldiers and policemen.

Thats it.

BREAKING NEWS!!! a friend of mine who is a jouranalist with one of thenorthern newspapers just called me from maiduguri.
He was arrested in the course of covering the crisis, mistaken as a member of the sect. so he, alongside about nine others, were taken to the Force headquarters where he was released as soon as he was properly identified.

While he was at the police station, the BOKO HARAM leader, Yusuf Mohammed was brought in. Some of the Police men quickly suggested that he be transfered to Abuja while the Commander of the Military task force, the Major General(Dont know his name) and other policemen disagreed. their view was that it would prolong things and start a series of court cases and "stories" that could end up in the guy being freed. So they decided on Jungle justice- to settle it out of court and for ever. The guy was brought outside the PoliceHeadquarters where he spoke in Hausa language that he knew he had done wrong and he wanted people to pray for him. his pleas fell on deaf ears as he was placed by a wall and repeatedly fired at by soldiers and policemen.

Thats it.

Guys, come oo
The swap of ETO'o, HLEB and FORTY MILLION EURO!!! for Zlatan Ibrahimovic does not make any sense to me o
Does it, to you?
Sentiments aside(not because he's black) dont you think ETO'O is far better than Ibrahimovic?

What do you think?

SOMEONE, ABEG TEACH ME HOW TO RESPOND TO A PARTICULAR POST BY COPYING AND HIGHLIGHTIN THE POST AS YOU GUYS NORMALLY DO.

ABEG DONT LAUGH AT ME, I NO SABI

the issue is this- the facts given are not enough for us to start debating.

1.  its important to know the location of these toilet- there are places in Ibadan where plots cost in excess of N10m, so a half plot for N5m, plus cost of construction will not be too much.

2. we dont knw the kind of design and structure being used in the construction of these toilets. I am into building and I tell you there are designs that could consume 10m easily

PLS NOTE- I DONT KNOW AKALA, HAVE NO BUSINESS WITH HIM OR OYO STATE.

5 million for a public toilet?

Damn too cheap.

Who's complaining here? do u knw a Goddamn about building?

BEST(s)- Basket mouth, I go die, Gandoki, AY, in that order

WORST- Princess, Lepacious Bose(can someone tell me why our female comedians suck so much ),

actually cant take credit for the writeup. was sent to me by an office colleague. the author is unknown.
just felt like sharing the sad but very true facts

I am Nigeria. I have millions of acres of arable land and billions of cubic liters of water, but I cannot feed myself. So I spend $1 billion to import rice and another $2 billion to import milk. I produce rice, but don’t eat it. I have 60 million cattle but no milk. I am hungry, please re-brand me.


I drive the latest cars in the world but have no roads. I lose family and friends everyday on roads for which funds have been looted. I lose my young, my old, and my most brainy and productive people to the potholes, craters and crevasses they travel on everyday. I am in permanent mourning, please re-brand me.

My school has no teacher and my classroom has no roof. I take lecture notes through the window and live with 15 others in a single room. All my professors have gone abroad, and the rest are awaiting visas. I am a university graduate, but I am illiterate. I want a future, please re-brand me.

Malaria, typhoid and many other preventable diseases send me to hospitals which have no doctors, no medicines and no power. So my wife gives birth with candle light and surgery is performed by quacks. All the nurses have gone abroad and the rest are waiting to go also. I have the highest m aternal and infant mortality rates in the world and future generations are dying before me. I am hopeless, hapless and helpless, please re-brand me.

I wanted change so I stood all day long to cast my vote. But even before I could vote, the results had been announced. When I dared to speak out, silence was enthroned by bullets. My rulers are my oppressors, and my policemen are my terrors. I am ruled by men in mufti, but I am not a democracy. I have no verve, no vote, no voice, please re-brand me.

I have 50 million youths with no jobs, no present and no future. So my sons in the North have become street urchins and his brothers in the South have become militants. My nephews die of thirst in the Sahara and his cousins drown in the waters of the Mediterranean. My daughters walk the streets of Lagos, Abuja and Port Harcourt, while her sisters parade the streets of Rome and Amsterdam. I am inconsolable, please re-brand me.

My people cannot sleep at night and cannot relax by day. They cannot use ATM machines, nor use cheques. My children sleep through staccato of AK 47s see through the mist of tear gas. The leaders have looted everything on the ground and below. They walk the land with haughty strides and fly the skies with private jets. They have stolen the future of generations yet unborn and have money they cannot spend in several lifetimes, but their brothers die of hunger. I want justice, please re-brand me.

I can produce anything, but import ev erything. So my toothpick is made in China; my toothpaste is made in South Africa; my salt is made in Ghana; my butter is made in Ireland; my milk is made in Holland; my shoe is made in Italy; my vegetable oil is made in Malaysia; my biscuit is made in Indonesia; my chocolate is made in Turkey and my table water made in France. My taste is far-flung and foreign, please re-brand me.

My people are cancerous from the greed of their friends who bleach palm oil with chemicals; my children died because they drank ‘My Pikin’ with NAFDAC numbers; my poor die because kerosene explodes in their faces; my land is dead because all the trees have been cut down; flood kills my people yearly because the drainages are clogged; my fishes are dead because the oil companies dump waste in my rivers; my communities are vanishing into the huge yawns of gully erosion, and nothing is being done. My livelihood is in jeopardy, and I am in the uttermost depths of despondence, please re-brand me.

I have genuine leather but choose to eat it. So I spend a billion dollars to import fake leather. I have four refineries, but prefer to import fuel, so I waste more billions to import petrol. I have no security in my country, but would rather send troops to keep the peace in another man’s land. I have 160 dams, but can not get water to drink, so I buy ‘pure’ water that roils my innards. I have a million children waiting to enter universities, but my ivory dun geons can only take a tenth. I have no power, but choose to flare gas, so my people have learnt to see in the dark and stare at the glare of naked flares. I have no direction, please re-brand me.

My people pray to God every morning and every night, but commit every crime known to man because re-branded identities will never alter the tunes of inbred rhythms. Just as the drums of heritage heralds the frenzied jingles, remember - the Nigerian soul can only be Nigerian - fighting free from the cold embrace of a government that has no spring, no sense, no shame. So we watch the possessed, frenzied dance, drenched in silent tears as freedom is locked up in democracy’s empty cellars. I need guidance, please re-brand me.

But then, why can I not simply be me, without being re-branded? Or does my complexion cloud the color of my character? Does my location limit the lengths my liberty? Does the spirit of my conviction shackle my soul? Does my mien maim the mine of my mind? And is this life worth re-branding? I am not yet born, please re-brand me.
what do you think of all these?


Do have a nice day and may God see us through.

SOMEONE ANSWER- WHO HAS SHOWN THE MOST COMPOSURE IN THE SE TEAM TODAY?
  WHO HAS HELD THE BALL WELL IN MIDFIELD?(WHICH WAS LACKING IN THE LAST MATCH)
I AM NOT A MIKEL FAN BUT WE MUST GIVE IT TO HIM, NOT JUST CRITICISE ANYHOW


shut up,  MRS CRACKLES!!!!!

SOMEONE ANSWER- WHO HAS SHOWN THE MOST COMPOSURE IN THE SE TEAM TODAY?
   WHO HAS HELD THE BALL WELL IN MIDFIELD?(WHICH WAS LACKING IN THE LAST MATCH)
I AM NOT A MIKEL FAN BUT WE MUST GIVE IT TO HIM, NOT JUST CRITICISE ANYHOW

ANY BAGGER WHO SAYS MIKEL IS NOT PLAYING WELL, DOES NOT KNOW ANYTHING ABOUT FOOTBALL
PLS TRY LUDO, DRAFT OR "AYO"

OMO IBO and co, get the heck outta here!! is it easy to hold this kind of .
team goalless to this point. the guys are doing ok. lets encourage small

Criticise! criticise!! criticise!!!

cant u be positive for once?

kpscheeeew!!!!

the ref is holding a green whistle oo. that means he's on our side!!!!

Please, does anyone here knows why we are yet to have another edition of Big Brother NIGERIA.

I found it more interesting than BBA

come oo- what about Zaaki Adzee, Big Bamo, Blackface, African china? Whay are they still on the payroll??

Nairalanders, make we no find wetin no lost….

Its really a simple issue- Illiteracy and lack of exposure! That is the reason why many are poor and that again is the reason why they have so many kids.

If you look at the distribution of poor people in the country. Over 70-80% of them are in the category of illiterate and underpriviledged. Their lack of exposure which in most cases is responsible for making them poor will also stop them from seeing that having too many kids is bad. Because they are mostly illiterates, there is no desire to give children quality education; and when you’re not thinking of quality education or even education at all, will you think of  having a minimal number of children, of course not!!

Shikenan!!!

someone complete this

baby girl your boo is back, come here to daddy
daddy knows where to touch to,

[b]yes!!! and curry and thyme too!!!

Shares and equities. thats what I mean

Decided to Start this thread to create an avenue for nairalanders to discuss, share information, tips and advice about Nigerian stocks on the Nigerian stock exchange.
In the last 3-4 weeks prices have been heading northwards even though it has gone bearish since the last two days(from 3rd june 2009) probably due to the the pressure of profit takers.
Is the market crash truly over? Can we confidently resume trading and investment in this market that has burnt the hands of so many? I, personally lost over three million naira between 2007 and 2009 . I have always been a short-medium term trader. Having recovered from that heavy loss, I am scareeeeed to put much money in it any longer
so lets discuss. which stocks are really hot to buy at the moment? which sector or particular stocks do we avoid and why? which stocks are currently over-priced and which are underpriced?
inputs pleaseee.

Please. what the F is this thread all about

Who is the largest employers of labour in Nigeria today? the banks, of course! without these banks, how manyNigerian youths and graduates will be home or doing some menial job? not to forget the spill over effect of having a family member in the bank.
Nobody complains when their family members of themselves are paid huge salaries and allowances but they they complain when targets are given. if the bank doesnt generate business, how will they pay salaries??, and who the F says

1. these targets are not achievable with hardwork?
2. you must meet 100% of your target?
3. if you dont meet your target you'll be sacked?

agreed there are 1 or 2 banks in Nigeria who are a bit harsh with their Target Policies like
Intercontinental, but I tell you its not as hard as it is made out.

PLS DONT DISCOURAGE PEOPLE. MARKETING IS ALL ABOUT HARDWORK AND DEDICATION. THE MONEY IS THERE IN THIS COUNTRY. GO GET IT AND BRING IT TO YOUR BANK THAT PAYS YOU SO MUCH. ONLY LAZY PEOPLE OR PEOPLE WHO CHANNEL THEIR EFFORTS TOWARDS THE WRONG DIRECTIONS FAIL TO ACHIEVE A GOOD PERCENTAGE OF THEIR TARGETS.

I am a banker with 6 years experience in Operations and marketing and I think I know what I am talking about,

And talking about Wenger, he has this to say:

“It’s very difficult. You can be very positive or very negative. We lost the game 4-1 which is a major disappointment but I feel going forward we had a very interesting game and created plenty of chances. That is never a 4-1 game, we should have been 2-0 up before they had a shot on goal. On the first free-kick we made a mistake and they scored. Today we missed seven or eight clear-cut chances and on every single mistake we made we were punished.”

On his side’s poor defending…
“It means our chances to come third are definitely over. The rest I don’t feel will have any other influence than that. We conceded four at Liverpool, three against Man United and four today. We have to improve the way we defend.

“You wouldn’t like to come out when you lose 4-1and say ‘listen, we are going to buy four defenders’. I believe we have quality defenders and it’s more a case of balancing the team defensively than the quality of our defenders. If you look at the second goal we could have done much better in midfield than at the back.”

On missing out on third place in the Premier League…
“We had a small opportunity to come third but three months ago everybody said we would finished tenth so I would have signed at that point to finish fourth. I don’t feel we have to be too disappointed with that but what is very disappointing for us is in the games that mattered in the last three or four weeks we couldn’t win. That’s where we have to analyse. But today there were a lot of positives in the game and we have to take a little distance from the defeat because it’s not a 4-1 game today.”

On dealing with two heavy home defeats in a week…
“It is difficult but this is a job for strong people. When you decide to live in a competitive world you have to deal with that – we cannot complain. It is a bit more difficult when you are young but when you are young you want to be challenged. That is a good opportunity to show we have the mental strength that is needed at this level.”

On the free-kick that led to the first goal…
“We live in a League now where the divers are rewarded. It’s not right but it is like that. I don’t think the free-kick should have been given but it doesn’t mean that we shouldn’t win the header afterwards. I believe we must live in our job where the referee makes some decisions for you and some against. But defending consequently you should clear the ball on the cross.”

On his summer transfer plans…
“At the moment I don’t know what funds will be available. I will be told by the Club. I don’t think the squad needs major investment. I believe we need to continue to improve. I’m not as doom-and-gloom as everybody wants to make it after a defeat and of course we play in a strong league against top quality opponents. Some teams who have come up are chasing us from the back as well. We need to improve in the areas that are right – that doesn’t mean quantity, not even quantity of money, it’s just the right type of players.”

On watching his side miss chances…
“I still feel I was more worried in February when we were drawing 0-0 without creating a chance. Today I feel we created the chances and had an interesting game. When you see that in a team it’s always easier to correct what doesn’t work defensively; if you don’t create chances you are always more worried.”