₦airaland Forum

Firefire:
Buhari sef...
Na wa for dis govt oooo

Weytin be nawa 4dis one

OlujobaSamuel:
read the statement of the deputy director media again.

Na you sabi the kind yeye tori wey you dey believe oh.
See below and be redeemed

The exemption from the AGF’s office to the The Director, Central Bank of Nigeria, Banking & Payments System Department, referenced FD/LP2015/C/ADC/20/1/ /DF and signed by M K Dikwa, mni, further reads:
“Approval is hereby granted to your bank to exempt the Accounts of thirteen (13) MDAs (Category 6) as listed below the mop-up in line with the e-Collection Circular No. HCFSF/428/S.1/120 dated 7th August 2015 as these are Profit Oriented Government Business entities that are to pay their dividends into the Treasury Single Accounts Whenever there are declared.
“Please note that in line with the Presidential approval, the following as it relates to Nigeria National Petroleum Corporation NNPC as listed above (S/No.9) under Category 4 should also apply:
i. That NAPIMS remains classified as an MDA that is funded from the Federation Account under Category 4 of the Circular, being the NNPC Business Unit responsible for the management of the Federation’s investment in the upstream activities and funded from direct proceeds of oil and gas revenue.
ii. That NNPC will continue to preserve the status with respect to NAPIMS Operations Account as well as Escrow Account for Third Party Financing in view of the Joint Venture (JV) Cash funding currently being experienced.
iii. That all other NNPC’s commercial/Business Entities as re-classified as ‘Profit-Oriented Public Corporations/Business Enterprises’ under Category 6 of the Circular which requires that only dividends from these entities be paid into the TSA.”

I just wanna be rich thats all i want.

Buhari shld pls watch someof these policies..as it will affect amny families and individuals. There is no job and he shld not do anything to jopardise our hope of geting employment with these banks.

Odikwa egwu.

jnrbayano:
Jideofor Kanayo?

Jnrkayano

Its going to be hard for some banks to remit such huge amount of money. I think they should write for more time

Installing discipline but destroying our economy. How on earth do you want banks to survive with TSA? More casuals will lose their jobs

DiegoNakel:
Sai baba!
Sai baba!!
Sai baba!!!
See the total compliance to an order from above !!!!
This man is installing discipline, honesty and
commitment, you could tell by the way Banks are panicking!!!!!
Once again sai baba!!!!!

The only person that understand the implication. Exactly my points

athaboi:
Buhari shld pls watch someof these policies..as it will affect amny families and individuals. There is no job and he shld not do anything to jopardise our hope of geting employment with these banks.

It is because they have something to hide.

Bloody thieves



Pls sanction them Asap

Aaaaaaaaah abeg it shouldn't affect my bank oooo

dihalao:
I just wanna be rich thats all i want.

.....with or WITHOUT work abi na how you want take do am?

You may wish to go through the threads below for "inspiration"


https://www.nairaland.com/2675894/fraudster-impersonated-lagos-ondo-deputy


https://www.nairaland.com/2674067/nigerian-nabbed-australia-10m-hard


https://www.nairaland.com/2672830/meet-waterloo-pictured



www.nairaland.com/attachments/2971025_policerobbers1702x336_jpeg89b7fe9045f32c96a0dae5d36e45a842

kaeforum:
TSA not realistic, this will seriously affect the economy of the country, if the banks go down so will other sectors that rely on them.

PMB should review his policy in the light of present economic reality, most of these banks have loaned out the funds and are yet to collect them from their debtors , recalling these funds in a hurry will lead to economic meltdown o.

His inexperienced advisers should be careful.

true

Nigerian banks like illegal money,let 'em be professional n start making clean money.time 2 make hard meeeeeeh.

kaeforum:
TSA not realistic, this will seriously affect the economy of the country, if the banks go down so will other sectors that rely on them.

PMB should review his policy in the light of present economic reality, most of these banks have loaned out the funds and are yet to collect them from their debtors , recalling these funds in a hurry will lead to economic meltdown o.

His inexperienced advisers should be careful.

I reasoned with your point,but do you also know that majority of this so called loans are been gotten by who knows who,you remember when they published debtors then,on the other hand they will have Acess to funds through cbn,its part of cbn function,what I know is that it's will curb corruption to a good extent,before loans will go out from those commercial bank it will be well scrutinized and everyone will be up on doing,with time things will fall in place.

mrlaw93:
I know Ecobank is among those banks .. That bank ehn

They said prominent banks

MUMUNTU

yimikaa:
Rules are meant to be obeyed. Just use one bank has scape goat.

This is the change era.

FTC. Glo una do me well ooo.

I don't blame the banks still not complying to the TSA requirements. A rule was made at first, later some exemptions were provided and NNPC was one of the exempted bodies, others were mentioned in this writeup. It's logical to think the original mandate by CBN failed to consider all variables before imposing some lame mandates on other banks.

In this writeup, some mentions were around NNPC accounts with some banks. Even if the banks are willing to remit the funds to TSA, how would they know if they're breaking the law since NNPC was declared exempted?

In my opinion, CBN changes lately are crude. They should be sure before passing mandates onto other banks. Many banks have their images to protect and business to run, but when mandates are coming from a confused body, what do you expect? Confusion everywhere of course. Several areas of the Nigerian economy is crippled from some of their new rules.

I'd replace the entire CBN leadership if I had the means. These folks are confused.

When u pull all this money that many banks use to do business and put it in Union Bank, other banks will fold up which will lead to more unemployment n more crime.
my advice: share the money to different banks with certain ratio n monitor them..

yimikaa:
Rules are meant to be obeyed. Just use one bank has scape goat.

This is the change era.

FTC. Glo una do me well ooo.

Simple english u can't spoke.''just use one has/as....

Banks like Firstbank will.be.smiling for not depending on gvt funds.But the likes of zenith,gt,unity etc go hear weeein

miracleoscar:
Simple english u can't spoke.''just use one has/as....

English teacher, continue. It's a typo though

All hands on deck!WE ARE W8N.

D date to remit d money to single A/C should be post poned to assist d banks to finish with Christmas season lending and equally recover d loan already lent out. Remember many business people must have borrowed loan and will not agree to return it until after d season. I will eqully suggest that instead of removing Govt funds completely from Banks which will lead to d collaps of d affected Bank, let Govt rather share his institutions fund to each bank. E.g Only one bank should handle all NNPC funds, Only one bank should handle all NEPA funds, Only one bank should handle all Nigerian Aviation funds etc. God bless Nigeria and give us more wisdom.

Richie0974:
Patiently waiting.. .

Good luck with your patience

kaeforum:
TSA not realistic, this will seriously affect the economy of the country, if the banks go down so will other sectors that rely on them.

Can you remind us what sectors of the economy are dependent on Nigerian banks again.

And while you are at it, kindly mention 10 SMEs (you can include known ones on Nairaland) that have been able to access low interest loans from Nigerian banks.

Heck. There isn't even any low interest loan in any Nigerian banks at the moment. 22% loan interest rate in Nigerian banks isn't SME friendly compared to 3% in China. That is why today you have thousands of manufacturers and companies in China which export to other countries including Nigeria.

There is no way you can make an omelette without breaking an egg. An egg has to be broken thru for the new chick to emerge. Similar worries and cries rented thru the air during Soludo's bank merger and acquisition issue. The banks that were unable to meet the expected capital base had to be merged or acquired. This led to stronger financial base and customer fund protection (remember the defunct National bank and Societe Generale?).

This may just be another litmus test to seperate the men from the boys and while there may be inevitable collateral damages at this stage, you can be sure that such will pale to insignificance with the economic stability it will bring. Employments will be created when these parasitizing "loan shack houses" start to do business and make money t way it should be done.

yimikaa:
Rules are meant to be obeyed. Just use one bank as scape goat.

This is the change era.

FTC. Glo una do me well ooo.

If you understand banking, you would understand that that order has already thrown over 5,000 bank staff out of job, and is still threatening to lay off another set of 10,000!

Jonathan wanted to do this, saw the implication on job creation, rescinded. Wisdom and maturity is assessing the implications of your actions before implementing them.

Btw, can someone just give us statistics of job losses since June 2015? It is getting alarming! You simply cannot give what you do not have.

ceaser:
Can you remind us what sectors of the economy are dependent on Nigerian banks again.

And while you are at it, kindly mention 10 SMEs (you can include known ones on Nairaland) that have been able to access low interest loans from Nigerian banks.

Heck. There isn't even any low interest loan in any Nigerian banks at the moment. 22% loan interest rate in Nigerian banks isn't SME friendly compared to 3% in China. That is why today you have thousands of manufacturers and companies in China which export to other countries including Nigeria.

There is no way you can make an omelette without breaking an egg. An egg has to be broken thru for the new chick to emerge. Similar worries and cries rented thru the air during Soludo's bank merger and acquisition issue. The banks that were unable to meet the expected capital base had to be merged or acquired. This led to stronger financial base and customer fund protection (remember the defunct National bank and Societe Generale?).

This may just be another litmus test to seperate the men from the boys and while there may be inevitable collateral damages at this stage, you can be sure that such will pale to insignificance with the economic stability it will bring. Employments will be created when these parasitizing "loan shack houses" start to do business and make money t way it should be done.

Bros, please, say what you are sure of. SME loans have come as low as 9% (with Jonathan-CBN intervention initiative). Please, say what you are sure of!

Secondly, do you know the harm Soludo did to banking after consolidation? You needed to know when Sanusi rubbished him. Soludo left the banking in bubbles, dined with the CEOs and looked the other way when iniquities ravaged the industry. This is apart from the terrible job losses created by his administration. Please, say what you know.


In summary--and IMO--how do you expect a bank to retire N100Bn of its deposits just like that? Do you know that immediately alters everything about the bank in just one day? Any sensible government should have given between six months to one year to get this done. Then, the bank can begin to shop for equity to cushion the effects.