₦airaland Forum

BlueRayDick:
Ahhhh!

And u people kept quite and kept trusting the process? If bank app no work for one week I go don move my cash o.

them no get branch again for Ilorin, and I never get the chance to go to Ekiti where i can withdraw it

BlueRayDick:
Ahhhh!

And u people kept quite and kept trusting the process? If bank app no work for one week I go don move my cash o.

The thing shock me
We take unnecessary risk, 2 days latest I will find my way to get my money out

larride:
According to their press release, CBN has been involved in their operations for a while to try to salvage the bank but since no path for recovery, them koko comot their hand.

I'm happy they didnt go the AMCON route.

Well, the AMCON route would've saved depositors funds and maybe shareholders too, but it will add more debt to AMCON's portfolio which is actually not good for the general public.

I also have a feeling that there might be some political considerations. NB: I am not saying this for a fact o, but I have a feeling that let's say Saraki was still the senate president or has some goodwill with with the current government; Just maybe somebody will put in word for him and the AMCON route may have been explored.

GloriousGbola:
my guy has 1m in the bank. they have been having issues for weeks. he was in vi two weeks ago to see if he could recove rthe money. thats when i told him, the best he could do s probably 250k - but from what you are saying, its 500k

so . . . the sarakis strike again !



there is not much you can do other than go to the bank and shout. even your people in the bank are telling you there is nothing that can be done

That N500k sef, ur friend will only get it after they are long gone in the liquidation process o. Ur guy will need the patience of Job to wait things out.

And Yes, the Saraki's struck again!

Ibunkun1:
them no get branch again for Ilorin, and I never get the chance to go to Ekiti where i can withdraw it

Sorry about that bro. Omo, this thing will put a lot of people into serious emotional stress o

sod09:
The thing shock me
We take unnecessary risk, 2 days latest I will find my way to get my money out

People should've created public awareness long ago and drag them everywhere sef. I didn't even know the bank wasn't doing well until when CBN released guideline for recapitalization and their figures were shown

GloriousGbola:
no they are not

was in gtb this morning

Oh good.

https://www.youtube.com/watch?v=pzMBMDY-ZAc?si=JTnF8w1tHJq1HTlM

BlueRayDick:
Well, the AMCON route would've saved depositors funds and maybe shareholders too, but it will add more debt to AMCON's portfolio which is actually not good for the general public.

I also have a feeling that there might be some political considerations. NB: I am not saying this for a fact o, but I have a feeling that let's say Saraki was still the senate president or has some goodwill with with the current government; Just maybe somebody will put in word for him and the AMCON route may have been explored.

AMCON itself should be disbanded. It has outlived its usefulness.

OkpaNsukkaisBae:



https://www.youtube.com/watch?v=pzMBMDY-ZAc?si=JTnF8w1tHJq1HTlM

Wether you agree with her ways or not, one thing that can't be disputed is that

This lady get mind

Taguchi:
Wether you agree with her ways or not, one thing that can't be disputed is that

This lady get mind

💯♨️♨️💯🖊🖊

larride:
AMCON itself should be disbanded. It has outlived its usefulness.

It can be argued that AMCON has outlived its usefulness because it was actually set up to restructure the banking sector by buying non performing loans of the banks so FG can take over such banks.....But it can also be argued that the banking sector reform though yielding positive fruits is still not where it ought to be.

I think CBN needs to be more proactive before AMCON is disbanded. This Heritage bank liquidation should not be happening if CBN had upped their game.

[color=royalblue]The USSD no dey go.

Na wa!

This loss dey vex me [/color]

obainojazz:
Meanwhile, thank you Ibiime, Afrdoc2, Rumdeuter and Rolnd17…. Appreciating you guys one year later

Oya paste that credit card details here, Make we lay hand on it and bless it

Itsrm:
Did you watch the interview? His point is that the money is still available to use, the government is just using it wrongly doing things like conditional cash transfer e.t.c

The bulk of Nigerians are not minimum wage earners or even salary earners. So how will govt relief reach them

BlueRayDick:
I was still having this same discussion with a friend yesterday. 2015-2016, what u would buy with meagre salary and still have savings, u can't even buy them with much higher salary after several promotions/increase in income.

Increasing the minimum wage to 100k will not solve anything as of today, it will only lead to an increase in the inflation rate. If the government can't find a way to bring some form of subsidy to cushion the effect of subsidy removal that was done inappropriately, we will only be going around in circles.

Bring in Subsidy to cushion the effect of subsidy removal. Is that not the perfect definition of circular movement?

raumdeuter:
The bulk of Nigerians are not minimum wage earners or even salary earners. So how will govt relief reach them

Have you watched the interview?

raumdeuter:
Bring in Subsidy to cushion the effect of subsidy removal. Is that not the perfect definition of circular movement?

A more realistic subsidy program I mean. The excuse for removing fuel subsidy was that it is being exploited by cabals to make few people rich.

Without any form of subsidy in place, things will only get worse in this country. The hardship in Nigeria is real!

nihilistjnr:
Ahhh

Omo ita ni e. Omo eko gan gan. Bus stop breeding.

Nothing you fit tell me. Me and you recognise ourselves.

Haha,confirm......Omo orita fogo,you don become innit finish na

BlueRayDick:
A more realistic subsidy program I mean. The excuse for removing fuel subsidy was that it is being exploited by cabals to make few people rich.

Without any form of subsidy in place, things will only get worse in this country. The hardship in Nigeria is real!

Another thing with fuel subsidy was that it made our cost of living significantly cheaper than our neighbors so that for example fuel for the who subregion was sourced from Nigeria

I will be interested in how the cost of living in Nigeria compares to our neighbors in West Africa

Our oil awoof we got for 60yrs was used to subsidize everything and not used to develop the real non oil economy. Its because of oil revenue that states can just employ workers without any form of productivity. If it was taxes they are using to pay salary, No one will be employing millions of ghost workers

If oil prices crash today or oil dry up today, what will be the fate of Nigeria as a country. We saw a brief intro to it when there was a oil pric slump around 2016

TrillionBots:
Calling the mods won't help.
We are not humans, we are programmed software bots created to spread and replicate all over this forum and spamming all threads.
We have 350 monikers set aside solely for today alone.
Can you report them all without getting tired?

Yawns

You are nothing more than an underemployed and unimportant person who has given up on life and has no goals other than to be a nuisance.

Save your empty bot story for someone who will swallow it
It is what it is

The mods hands will continue to touch you and put you where you belong - in time out.

Itsrm:
Did you watch the interview? His point is that the money is still available to use, the government is just using it wrongly doing things like conditional cash transfer e.t.c

Or using ₦90billion to pay for subsidy on pilgrimage...

raumdeuter:
Another thing with fuel subsidy was that it made our cost of living significantly cheaper than our neighbors so that for example fuel for the who subregion was sourced from Nigeria

I will be interested in how the cost of living in Nigeria compares to our neighbors in West Africa

Our oil awoof we got for 60yrs was used to subsidize everything and not used to develop the real non oil economy. It’s because of oil revenue that states can just employ workers without any form of productivity. If it was taxes they are using to pay salary, No one will be employing millions of ghost workers

If oil prices crash today or oil dry up today, what will be the fate of Nigeria as a country. We saw a brief intro to it when there was a oil pric slump around 2016

Subsidy has never been the issue , it is CORRUPTION . Whether we have oil or oil dries up tomorrow , so far corruption reigns supreme in this country things will always go wrong .

In spite of the how bad we may think subsidy was ; it was subsidy regime monies for projects like Ajaokuta were provided but corruption is the reason why the project has perpetually been a cost center .

Nigeria is not the only country in the world that has some forms of subsidy for its citizens . I don’t like it when people try to make it seem like subsidy was the problem .

TrebleChamp:
Or using ₦90billion to pay for subsidy on pilgrimage...

Exactly. Just imagine

BlueRayDick:
It can be argued that AMCON has outlived its usefulness because it was actually set up to restructure the banking sector by buying non performing loans of the banks so FG can take over such banks.....But it can also be argued that the banking sector reform though yielding positive fruits is still not where it ought to be.

I think CBN needs to be more proactive before AMCON is disbanded. This Heritage bank liquidation should not be happening if CBN had upped their game.

There's nothing the CBN will do to save that bank if their operations is not sustainable or them don run ham to the ground.

Sometimes its better to just wind it up than postponing the inevitable.

TrebleChamp:
Or using ₦90billion to pay for subsidy on pilgrimage...

Which is why Tinubu is pushing for regionalism.

Let those who have made 90 billion hajj as their prime directive face it by themselves

“The small National Anthem Wey we Dey manage, e reach your turn you change am” - Veteran Nollywood actor, Chinwetalu Agu wants to know how changing of the National Anthem is going to reduce the price of fuel or the price of food items in the market. pic.twitter.com/mQPBgnXSy5

— Ólú ndị Igbo (@VoiceOfTheEast) June 3, 2024

BlueRayDick:
Sorry about that bro. Omo, this thing will put a lot of people into serious emotional stress o

As in, what even caused it was that their ATM card has been deactivated. I would have withdrawn it since

larride:
There's nothing the CBN will do to save that bank if their operations is not sustainable or them don run ham to the ground.

Sometimes its better to just wind it up than postponing the inevitable.

There’s actually much CBN can do. Banks don’t just run down in a week or month. It’s a gradual decline which CBN has the duty to arrest at early stage .

Banks send regular filings to CBN periodically . The essence of such periodic report is to avert this kind of situation

If NLC has truly cut off NASS water supply, then I can start taking them seriously..

Shut down everywhere, if it's possible, all airports in the country too..

Money no dey, money no dey, #90bn fall out immediately for nonsense..

CrystalTiger:
If NLC has truly cut off NASS water supply, then I can start taking them seriously..

Shut down everywhere, if it's possible, all airports in the country too..

Money no dey, money no dey, #90bn fall out immediately for nonsense..

They should kuku shut down the country then including internet