₦airaland Forum

@ibime or igbeme.I GUESS DIS POST IS NOT 4 IDIOTS LIKE U WHO TINKS D ONLY WAY 2 MAKE A POINT IS 2 B INSULTIVE.AGBERO LIKE U SHOULD B @ D GARAGE AND NOT HERE.


@sagamite, wat i mean is dis after discovering dis banks 2 b insolvent sanusi would av called dis MDs and threathing them to recovered dis money within a time frame say 6 month after which they could b prosecuted and replace.by dis, job lost,share crash and d credit crunch would av been prevented.all am saying sanusi would av achieve d same result wit a diffrent approach.PLS HELP ME TEACH DAT IDIOT igbeme HOW TO RESPOND 2 THREAD

@ ibeme.u r d greatest DIDINRIN a fool like who thinks wit his feet.Y not keep ur filty mouth Shut if u got noting meaninful 2 contribut 2 d post.Alai leko like u

dis was d first thin sanusi should av done: arrest d bank chief get dem prosecuted and refund all d loot back 2 d bank SHIKENA.but instead sanusi created panic ,increase unemployment and uncertainly in the economy cos e want 2 be recognise.

now dat d stolen funds will b recovered hope d innocent staff sacked will also b recall

i dont c dem as a strong bank.take ur money 2 Gt

no b d manager wey sanusi say dem go reposition bank b dis.abeg all na bobo

dis should b thoroughly investigated. MONEY LAUNDRY!!! HOP SANUSI WILL NOT TURN DEAF EAR 2 DIS

dont wory guy d banks are doin well now.

big lie anybody dat buys into an institution with legal tussle does so @ his own perry.even so who told u access,fcmb can buy oceanic,inter.sanusi shud b prepare 4 war if e dares it.

It is the right of shareholders to decide whether to sell, go into partnerships or recapitalize their banks. It is not the business of the CBN as we have insisted on several times before now. The right of shareholders to recapitalize their banks does not affect the right of the CBN to regulate these banks. It is simply over zealousness for the CBN to determine who owns the banks that it seeks to regulate. It compromises the CBN if it seeks to bring in the investors to invest in the banks that it will regulate. Let the CBN seek to strengthen its regulations while the banks seek to strengthen their capital and operations to meet regulatory standards. 
The CBN has already over-reached itself by appointing financial advisers for banks it did not own and even going ahead to negotiate with investors on behalf of the banks. These taken-over banks are quoted on a recognised and respectable stock exchange, the Nigerian Stock Exchange (NSE) not a casino as Sanusi will want us to believe.
The shareholders of these institutions are very much alive and willing to recapitalize their banks. The CBN has done its job by stabilizing these institutions; which have not only been stabilized, but they have returned to profitability. What the CBN should do next is hand over these institutions back to their hareholders at their next annual general meeting (AGM).
The CBN can give them the timeframe to recapitalize like it has done with Wema and Unity Bank.

The fact that when a bank suffers from temporary capital inadequacy, (as the CBN alleges is the case with the eight banks) the first remedy is to call on shareholders to bring in fresh capital.
Unfortunately for our CBN Governor this simple fact was rocket science that took him 12 months to understand. This is after threatening, intimidating and cajoling shareholders, all in an attempt to make them give up their shareholding in these banks that were forcefully taken over by the CBN when a simple remedy action of recapitalization would have resolved the issue. Instead, the CBN has taken the Nigerian economy through several months of uncertainty and double standards.
While the CBN has given the option of recapitalization to ETB, Unity Bank and Wema Bank, it stubbornly denied shareholders of the other eight banks similar opportunity. The Governor remained adamant even when it became obvious to all discerning individuals that the economy cannot move forward until the issue of these eight taken over banks is fully resolved
It is the right of shareholders to decide whether to sell, go into partnerships or recapitalize their banks. It is not the business of the CBN as we have insisted on several times before now. The right of shareholders to recapitalize their banks does not affect the right of the CBN to regulate these banks. It is simply over zealousness for the CBN to determine who owns the banks that it seeks to regulate. It compromises the CBN if it seeks to bring in the investors to invest in the banks that it will regulate. Let the CBN seek to strengthen its regulations while the banks seek to strengthen their capital and operations to meet regulatory standards. 
The CBN has already over-reached itself by appointing financial advisers for banks it did not own and even going ahead to negotiate with investors on behalf of the banks. These taken-over banks are quoted on a recognised and respectable stock exchange, the Nigerian Stock Exchange (NSE) not a casino as Sanusi will want us to believe.
The shareholders of these institutions are very much alive and willing to recapitalize their banks. The CBN has done its job by stabilizing these institutions; which have not only been stabilized, but they have returned to profitability. What the CBN should do next is hand over these institutions back to their hareholders at their next annual general meeting (AGM).
The CBN can give them the timeframe to recapitalize like it has done with Wema and Unity Bank.

The fact that when a bank suffers from temporary capital inadequacy, (as the CBN alleges is the case with the eight banks) the first remedy is to call on shareholders to bring in fresh capital.
Unfortunately for our CBN Governor this simple fact was rocket science that took him 12 months to understand. This is after threatening, intimidating and cajoling shareholders, all in an attempt to make them give up their shareholding in these banks that were forcefully taken over by the CBN when a simple remedy action of recapitalization would have resolved the issue. Instead, the CBN has taken the Nigerian economy through several months of uncertainty and double standards.
While the CBN has given the option of recapitalization to ETB, Unity Bank and Wema Bank, it stubbornly denied shareholders of the other eight banks similar opportunity. The Governor remained adamant even when it became obvious to all discerning individuals that the economy cannot move forward until the issue of these eight taken over banks is fully resolved
It is the right of shareholders to decide whether to sell, go into partnerships or recapitalize their banks. It is not the business of the CBN as we have insisted on several times before now. The right of shareholders to recapitalize their banks does not affect the right of the CBN to regulate these banks. It is simply over zealousness for the CBN to determine who owns the banks that it seeks to regulate. It compromises the CBN if it seeks to bring in the investors to invest in the banks that it will regulate. Let the CBN seek to strengthen its regulations while the banks seek to strengthen their capital and operations to meet regulatory standards. 
The CBN has already over-reached itself by appointing financial advisers for banks it did not own and even going ahead to negotiate with investors on behalf of the banks. These taken-over banks are quoted on a recognised and respectable stock exchange, the Nigerian Stock Exchange (NSE) not a casino as Sanusi will want us to believe.
The shareholders of these institutions are very much alive and willing to recapitalize their banks. The CBN has done its job by stabilizing these institutions; which have not only been stabilized, but they have returned to profitability. What the CBN should do next is hand over these institutions back to their hareholders at their next annual general meeting (AGM).
The CBN can give them the timeframe to recapitalize like it has done with Wema and Unity Bank.

AKINGBOLA & CO WERE ONLY SCAPEGOATS VIRTUALLY ALL D BANKS MD R GUILY OF D SAME OFFENCE.SANUSI ONLY CHOOSE D ONCES HE HAD GRUDGES WIT.LETS WAIT 4 D COURT ANYWAY.

sanusi does not av adequate grasp of the excruciating economic hardship that Nigerian workers are going through, which is occasioned by poor pay, infrastructure decay and general apathy to the wellbeing of the working class, earlier in June, Sanusi had called on the Federal Government to remove subsidies on petroleum products because he felt the beneficiaries of subsidy are members of an oil cabal and not the people for whom it was meant.”
Sanusi statements are highly misleading and totally anti-people in the face of excruciating mass poverty in the land.Dis mallam certainly talks b4 he thinks.

no b d same sanusi say e go sell banks 2 south africa? mumu like him

had a very bad xperience wit one of their brh recently.most of dis banks r living on past glory.D so called recued banks r fearing beta now.

When cadbury had problems few years ago and was declared insolvent, the regulatory agency in the foods and beverages sector did not think ackwardly like Sanusi is now thinking towards forcefully taking over this company. Neither was any form of forced loan given as a bait which under an aggrement decided by CBN and its self imposed management was converted covertiously into equity stakes in these banks.
I bought intercontinental banks IPO at #13:50k, BPHP at #17:00k, Oceanic bank at >#14;00 and it would be cheating of the greatest order if CBN forcefuly spoils business for shareholders of all these companies only to acquire the shares at between #0:50k – #1:00k.
This is called cheating, lunacy and madness from infidels who are bent on not retracting their steps.
I urge all shareholders of all these banks to begin to file a law suit against the regulatory agencies suing heavily for damages for compounding the woes of these companies pending the preposition of rights issues.
In the first place, CBN and NDIC should have given the shareholders of these banks the opportunity to remove the managements and re-capitalize their institution before thinking of this unjust aggressive takeover. The way and manner the regulatory bodies CBN and NDIC has managed this issue is a good sign of unprofessionalism, evil agenda plan among other biased and selfishly connoted reasons.

i guess sanusi is begining 2 realise dat d so called recue bank belongs 2 a group of pple called shareholders and not d cbn hence his reversals.

Jonathan advises CBN on supervisory functions, Page 17 – The Punch 16 june



President Goodluck Jonathan yesterday urged the CBN to be careful in discharging its duties towards the development of the nation’s economy. The President described the role of the CBN as a sensitive one that must be handled carefully, noting that the ability of the CBN to successfully implement its supervisory functions is very vital to the survival of the Nigerian economy.

wen did sanusi bcomes jonathans spokesman nonsence!!!

pls i'm also tinking of a barbing salon @ game villa in kaduna.hw profitable

d source of d news is questionable.vanguard on his own caption says 'FEC drills sanusi'.Businessday paper has always being bais toward sanusi its neva bein objective.FG asking sanusi to come & xplains his unpopular reform to cabinet does not amount 2 endorsment.

The Sultan of Sokoto, Alhaji Muhammad Saad Abubakar III, yesterday cautioned the Governor of the Central Bank of Nigeria (CBN), Malam Sanusi Lamido Sanusi, to stop exposing Nigerian banks to the world.


The Sultan, who also warned Nigeria's economic leaders against exposing the country's economic problems to the world, said there were security dangers inherent in exposing the country's banks and economy to the outside world.

The Sultan gave this warning at his palace in Sokoto yesterday when the Director-General of the Securities and Exchange Commission (SEC), Ms Otei Arunma, paid him a courtesy visit to inform him of the Capital Market Club for secondary schools, which was launched in the state yesterday

He said, "When we have problems in the economy, we should not expose it for the whole world to know. We can go ahead to correct our banks without the knowledge of other countries.”

According to the Sultan, "The economy depends on security. Economy is a very important factor in the security of any nation. We must be careful on how we reshape our banks and economy."

He admitted that the country's financial institutions, especially the banks, don't do what they ought to do and engage in roundtripling, foreign exchange and declare billions of naira on paper.

He said the authorities must be careful on how they reshape the nation’s banks.

source:leadership 19may.

unfortunately we av a taliban as CBN GOV.

@naijaking1
i dey gbadun u always.

President of living faith church David Oyedepo said the church is set to establish another university by september this year  to be named LANDMARK UNIVERSITY

is sanusi an hamas?

Sanusi has consistently threatened shareholders that he would liquidate the eight banks taken over by the CBN if they refused to allow him sell them.
It was appalling that the CBN had resorted to this desperate tactics in a bid to force genuine shareholders to sign off their legitimate holdings in the banks he forcefully took over.

It was a sign of the weak argument of the CBN that these taken-over banks are dead, which is why he cannot convince shareholders to part with these banks he claims were dead. What the shareholders were asking for was their right, the right to recapitalize their banks, if the CBN claims that they are undercapitalized. This right is inalienable and no manner of threat from the CBN will make shareholders give up this right.

“If these banks are this bad, why is the CBN trying to sell them, why have they lined up a bevy of willing buyers for banks that are supposedly dead? Shareholders will not allow the CBN to take over what the CBN did not set up. The CBN’s role is to regulate banks, not to manage banks and definitely not to sell banks it does not own.

Sanusi Should Be Removed Now

Sanusi has already done tremendous damage to our banking industry, finances and economy. He should not be left to play the role of the President, Finance Minister and National Assembly, all with destructive results.

There were no serious wrongs or terminal defects in our banks before Sanusi. Soludo made provisions for the issue of liquidity problems some of the banks might experience. This was the establishment of Expanded Discount Window for any bank that has cash shortfall to go and take credit.

Sanusi came, ignore the discount window and went on his own to print money and gave it to some banks over and above what they needed at a time. He then disorganised their management. But these were not the minor operating wrongs of some of the banks.

Sanusi does not know or understand credit finance. Even as individuals or companies, you sometimes finance your business through your trade creditors as they grant you some days or months credit period before you could pay. Sometimes you get overdraft from your bank to tidy up for the short-time when you are cash strap.

The Expanded Discount Window was meant to be continuous for this to helping the banks that are in need of cash. It did not matter how often any Bank frequent the Expanded Discount Window. The CBN was funding it. It was not free. The banks pay interest on the overdraft or credit they take. The N620bn Sanusi poured out at a go, which was not all needed by the banks would have supplied the discount window for a long time while the banks continue their trade in earnest.

The wrongs of some bank chiefs such as the issues of lending, non-performing loans and collection would have been quietly sorted out even if some banks chief executives that actually infringe the laws were stepped down and perhaps prosecuted, while the business of the banks go on uninterrupted, adequate supervision system is put in place by the CBN to ensure the wrongs are not repeated.

Sanusi took it upon himself to constitute the President, Finance Minister and National Assembly, dictate what he personally wants, ignore the laws of the land, disorganised and destroyed the banks while Yar’Adua Government looks on. Jonathan should remove Sanusi now if he meant well for the banking industry, finances and the economy of the country.

Most of what Sanusi is dishing and forcing on the throat of the banks are not needed. We have Nigeria, her prosperity and image to protect.

– PRESIDENT of the Living Faith Church, Bishop David Oyedepo yesterday confirmed that he actually visited ailing President Umaru Yar’Adua at the Presidential Villa but declined to give details of the man’s state of health.

Bishop Oyedepo who spoke to reporters in Abeokuta, declined further comments on their visit to the ailing president merely saying “yes” when asked to confirm the reports in the newspapers.

Pressed to speak on the president’s health, he said “that is personal. I owe the public no explanation.”

now i know sanusi is very confused

Sanusi doing the opposite of what he wishes to accomplish, he's engineering a crisis that has forced the cream of Nigerian companies to seek loans abroad, citing the cases of Dangote Group, which recently paid off its loans to Nigerian banks only to approach Standard Bank of South Africa for a US$350m loan, and Eterna Oil Plc that is seeking N1.2 billion from the Japanese Bond market. The  the CBN Governor “created crises for Nigerian banks, the smallest Nigerian bank had a guaranteed foreign credit line. Now, no Nigerian bank can get the smallest foreign credit line without a CBN guarantee, a clear indication of how much confidence has dropped in the Nigerian banking system under the CBN.
and now another retrenchment.this man i believe is not above us all.lets act now