DeRay98:


Thank you Sir.
You hit the nail on the head.
See how she's now trying to ride on the attack on Sanusi's exalted traditional position to rally cheap sentiment from thought sentimental masses some of deposits she squandered.

Yeah
She is the worst to ever happened to Nigeria and saint sanusi is best that has happened yet. Nonsense talk.

Sanusi intelligent crab is nonsense deep down he is a religious and ethnic bigot.

I am happy that it’s his own brother that is persecuting him now.
No better way to get served by karma.

Divine200:
All if you saying she bought this and that and had properties all over the place should remember that her late husband was a one time richest man in Africa.
Saint sanusi punished her for offence known to him. There were other CEO who committed the same offence as she did but they were untouched.

This is a war against Nigeria women.

And you think if she bought it with her (sick) husband's money, she would have agreed to forfeit them to the EFCC? She pled GUILTY!

9jaRealist:


And you think if she bought it with her (sick) husband's money, she would have agreed to forfeit them to the EFCC? She pled GUILTY!

She obviously did that to put the matter to end if not it will still be dragged in the courtroom.

What happened to the intercontinental guy? Why wasn’t he persecuted?

Stupid woman. So Sanusi told you to use depositors money in your bank to play bet9ja

Divine200:

She obviously did that to put the matter to end if not it will still be dragged in the courtroom.

What happened to the intercontinental guy? Why wasn’t he persecuted?

Erastus Akingbola is still being prosecuted till the present day...
In fact, he was re-arraigned at the FHC Lagos in March, with additional charges.

Anyway, like I said previously, it's a shame that all other offenders had/have not been prosecuted and jailed (if found guilty), but the reality is that Aunty Cecilia got a slap-in-the-wrist jail sentence (6 months in a cushy private hospital) and thus should count her blessings and move on.
>

What is this fraudster saying?

Sanusi is a thief. I’ve always maintained that stance!

You claim pdp looted but who held the account? Thief

Benekruku:
And she prosecuted defunct Oceanic bank staffs and customers!


What goes around, comes around.

Stop saying rubbish,She is one of the best CEOs far better than Tony Elumelu and others in terms of Staff welfare.

mukthar2000:
Big liar, do u think we Nigerians doesn't know the criminal act u are committing under ur bank.

All banks commit these crimes, bad loans and all, normally they shud be given enough time to regularize their books before been dealt with. Where they given such time in fairness is probably the question.

Bizibi:
my family lost its money in that bank.....

how can you say your family lost money to that bank when the bank was acquired by Ecobank and the transition was smooth

See her face thief!

9jaRealist:


When the UK government sold shares of the Royal Bank of Scotland that it was compelled to nationalize during the Financial Crises or when the US government brought General Motors back to the market post-Financial Crises through a public offering, did the UK and Us governments simply turn around and hand the funds realized from such public offerings back to the same shareholders who ran the businesses aground?
>

When you bail out you put in your own money.

The government had no need to 'put in' it's own money into the bank in the first place is what I'm saying. Most of the accusation is about giving her and her family loans that went bad. So the money from her was a form or recovery of bad debt.

Before you go further in defending and comparing what naija did, it will be pertinent to inform you that the ruling judge put his daughter in one of the recovered houses etc

9jaRealist:


If there was any veracity to that, how many Northern bank CEOs emerged under Sanusi?
Sadly, when the rapacious Nigerian elite class get into trouble, they seek to hide behind ethnicity and regional skirts.
>

You need to understand the connection between Saraki and Sanusi and how Saraki's farm manager became CEO of former intercontinental bank with no banking pedigree.

Or that John Aboh that became CEO was his friend and colleague from his time in first bank?

9jaRealist:


You think the CBN just took the banks and sold them?! SMH

These banks were so indebted that their shareholder funds had effectively been ENTIRELY WIPED OUT! The banks had to be re-capitalized by (1) the CBN injecting billions into them (and effectively becoming their shareholders), (2) the NDIC paying billions to their depositors, and (3) AMCON buying trillions of their bad loans. The banks were NOT sold for a "pittance" but selling them enabled CBN to recoup some public funds.

This is what you were made to believe.

Besides, can you prove allegation (2) in the case of Oceanic Bank?

I remember that John Aboh, Acting MD, that was appointed by CBN to replace Cecelia was shocked at the level of misinformation on the financials of Oceanic Bank. Information was simply weaponized against the bank.

However, Cecelia and the board of directors of Oceanic Bank were guilty of mismanagement, disregard to the shareholders, insider abuse, corruption, graft and poor corporate governance.

She failed to uphold her fiduciary responsibility in the best interest of shareholders hence, guilty as charged.

My issue with Sanusi's approach was his deliberate and calculated tactic to disallow the shareholders, who are the actual owners of the bank, to recapitalise, if need be, change the management and board of directors and re-position the bank for better accountability, improved profitability and corporate governance. He just wanted to assassinate the brand and eliminate that bank.

The truth is that Oceanic Bank was in a delicate situation which was complicated by weaponized information originating from the Apex bank which made it difficult to ignore by stakeholders. Once stakeholders, who own the liabilities and depositors funds that the bank trade upon loose confidence in the bank. Such bank will not survive.

Ordinarily, Oceanic didn't need those bail out funds when it was injected. That bank had strong financial position despite the huge non performing and bad loans. The shareholders had enough resources to recapitalise and restructure the bank and discipline the board, if allowed.

Back then when I was in office, if I was at home, you wouldn’t find a parking space in my compound; it was always filled with cars and people who wanted one favour or the other from the bank. But after that episode, everywhere became empty.

If money dey, dey, dey
Many many people, making your friends
If money go, go, go
Many many people will run away.

Such is life.

SarkinYarki:


how can you say your family lost money to that bank when the bank was acquired by Ecobank and the transition was smooth

our investment was gone.....some people didn't get their shares afterward. It was stories, stories,stories.

Stop Quoting what someone told you because you were too young to experience it yourself.

The troubles of the bank started AFTER Sanusi got her out.

Oceanic was very very healthy under her tenure.

I'm not saying she did not take liberties with the banks funds but the bank would have still been alive today if she was not removed.

Go check out skye bank and see how those guys ate the bank like locusts

dominique:
And he made you run your bank to the ground too.

Wallade:


This is what you were made to believe.

Besides, can you prove allegation (2) in the case of Oceanic Bank?

I remember that John Aboh, Acting MD, that was appointed by CBN to replace Cecelia was shocked at the level of misinformation on the financials of Oceanic Bank. Information was simply weaponized against the bank.

However, Cecelia and the board of directors of Oceanic Bank were guilty of mismanagement, disregard to the shareholders, insider abuse, corruption, graft and poor corporate governance.

She failed to uphold her fiduciary responsibility in the best interest of shareholders hence, guilty as charged.

My issue with Sanusi's approach was his deliberate and calculated tactic to disallow the shareholders, who are the actual owners of the bank, to recapitalise, if need be, change the management and board of directors and re-position the bank for better accountability, improved profitability and corporate governance. He just wanted to assassinate the brand and eliminate that bank.

The truth is that Oceanic Bank was in a delicate situation which was complicated by weaponized information originating from the Apex bank which made it difficult to ignore by stakeholders. Once stakeholders, who own the liabilities and depositors funds that the bank trade upon loose confidence in the bank. Such bank will not survive.

Ordinarily, Oceanic didn't need those bail out funds when it was injected. That bank had strong financial position despite the huge non performing and bad loans. The shareholders had enough resources to recapitalise and restructure the bank and discipline the board, if allowed.

This guy knows

I suspect you be former banker

Very very correct

Yankee101:
When you bail out you put in your own money.

The government had no need to 'put in' it's own money into the bank in the first place is what I'm saying. Most of the accusation is about giving her and her family loans that went bad. So the money from her was a form or recovery of bad debt.

Before you go further in defending and comparing what naija did, it will be pertinent to inform you that the ruling judge put his daughter in one of the recovered houses etc

And so the (alleged) wrongdoing of one unrelated party excuses/absolves her own wrongdoing? Ayam not understanding...
Meanwhile, when any government uses taxpayer funds to bail out private entities, it returns any and all recoveries to the public treasury.

BTW, the CBN recapitalized the banks (which were arguably technically insolvent) to prevent a collapse of public confidence and trust, and a consequent 'run' on the general banking system that would be cataclysmic to the sector (trust being the strongest currency in banking).

Bizibi:
our investment was gone.....some people didn't get their shares afterward. It was stories, stories,stories.

ohh you lost your investments , now that adds up ..me thought you were talking from a depositors angle ..Sorry about your loss

9jaRealist:


And so the (alleged) wrongdoing of one unrelated party excuses/absolves her own wrongdoing? Ayam not understanding...
Meanwhile, when any government uses taxpayer funds to bail out private entities, it returns any and all recoveries to the public treasury.

BTW, the CBN recapitalized the banks (which were arguably technically insolvent) to prevent a collapse of public confidence and trust, and a consequent 'run' on the banking system that would be harmful to the financial sector in general (trust being the strongest currency in banking).

I used etc cos the judge was not the only case. They just stole what was recovered from her.

All of them involved

Wallade:
This is what you were made to believe.

Besides, can you prove allegation (2) in the case of Oceanic Bank?

I remember that John Aboh, Acting MD, that was appointed by CBN to replace Cecelia was shocked at the level of misinformation on the financials of Oceanic Bank. Information was simply weaponized against the bank.

However, Cecelia and the board of directors of Oceanic Bank were guilty of mismanagement, disregard to the shareholders, insider abuse, corruption, graft and poor corporate governance.

She failed to uphold her fiduciary responsibility in the best interest of shareholders hence, guilty as charged.

My issue with Sanusi's approach was his deliberate and calculated tactic to disallow the shareholders, who are the actual owners of the bank, to recapitalise, if need be, change the management and board of directors and re-position the bank for better accountability, improved profitability and corporate governance. He just wanted to assassinate the brand and eliminate that bank.

The truth is that Oceanic Bank was in a delicate situation which was complicated by weaponized information originating from the Apex bank which made it difficult to ignore by stakeholders. Once stakeholders, who own the liabilities and depositors funds that the bank trade upon loose confidence in the bank. Such bank will not survive.

Ordinarily, Oceanic didn't need those bail out funds when it was injected. That bank had strong financial position despite the huge non performing and bad loans. The shareholders had enough resources to recapitalise and restructure the bank and discipline the board, if allowed.

I raise my hand to proffer that I am not aware of any such thing Mr. Aboh may have reportedly said...

Nevertheless, suffice it note (in fact, reiterate) that this action was NOT a witch-hunt of Oceanic Bank (or any particular bank) because this action followed a special examination and stress-testing of ALL of the banks, and it was only consequent thereto that EIGHT banks (not just Oceanic Bank) were recapitalized and the boards and executive management of five banks (against not just Oceanic Bank) were removed and replaced. Accordingly, incendiary (and emotion-ladened) phrases like "weaponized against Oceanic Bank" are simply not borne out by the facts.
>

What goes around comes around.

Yankee101:

I used etc cos the judge was not the only case. They just stole what was recovered from her.

All of them involved

Rather than confuse and conflate disparate issues...
We can go after those persons without seeking to exonerate her or ameliorate her wrongdoing. She pled GUILTY!
>

Shut up Cecelia you thief

ednut1:
as fbn boss he signed an 100b loan to a padi without due process the result today is shown below.go to cms and see 2 rigs there lying fallow. How do i know- i worked for the owners son at a time lol. Even him no be saint

We all know the story of Seawolf

Kobicove:


We all know the story of Seawolf

3rdavefarms:
Omo baba Eleja should keep quiet

She's iyawo baba eleja..

9jaRealist:


I raise my hand to proffer that I am not aware of any such thing Mr. Aboh may have reportedly said...

Nevertheless, suffice it note (in fact, reiterate) that this action was NOT a witch-hunt of Oceanic Bank (or any particular bank) because this action followed a special examination and stress-testing of ALL of the banks, and it was only consequent thereto that EIGHT banks (not just Oceanic Bank) were recapitalized and the boards and executive management of five banks (against not just Oceanic Bank) were removed and replaced. Accordingly, incendiary (and emotion-ladened) phrases like "weaponized against Oceanic Bank" are simply not borne out by the facts.
>

Mr John Aboh did not make a public statement inferring or expressly stating his position that I indicated earlier; you don't expect him to say that in public, do you, but it is a reliable insider information that I divulged to you, take or leave it.

I emphasized Oceanic Bank's case based on experience and access to information peculiar to Oceanic Bank. I can not speak for other defunct banks because I don't have adequate information.

Let me give you another privileged information - you can not verify this information based on data available in public domain. There is a commercial bank that narrowly missed the list of banks that failed stress test. The MD was unofficially made to retire from the position and board and another condition was for the majority shareholder, in proxy or person, to reduce his/her shareholdings in the bank by selling via private offer to preferred (Apex Bank preferred) investors.

The MD reluctantly and abruptly complied and the bank was cleared as unstressed bank. The bank in question was more into corporate banking unlike Oceanic Bank that was more into retail banking so you can imagine the devastating effect if it was listed as stressed; would not have survived as long as Oceanic did. An MD from that bank eventually became a CBN governor. Note that corporate bank account holders are more sensitive and delicate than retail bank account holders.

Bottom line is that there is more to the information you see on public domain. There are often some undertones and purposes for churning out the information we come across on public domain.

Every action that Cecelia and the management of the defunct Oceanic Bank engaged and were convicted for was practiced by all the banks at that time. Though it is arguable that Oceanic Bank was most guilty but the fate of Oceanic Bank was sealed by the clandestine, political and vindictive plans of some powerful people in Nigeria with Sanusi as the arrow head.

Wallade:


Mr John Aboh did not make a public statement inferring or expressly stating his position that I indicated earlier; you don't expect him to say that in public, do you, but it is a reliable insider information that I divulged to you, take or leave it.

I emphasized Oceanic Bank's case based on experience and access to information peculiar to Oceanic Bank. I can not speak for other defunct banks because I don't have adequate information.

Let me give you another privileged information - you can not verify this information based on data available in public domain. There is a commercial bank that narrowly missed the list of banks that failed stress test. The MD was unofficially made to retire from the position and board and another condition was for the majority shareholder, in proxy or person, to reduce his/her shareholdings in the bank by selling via private offer to preferred (Apex Bank preferred) investors.

The MD reluctantly and abruptly complied and the bank was cleared as unstressed bank. The bank in question was more into corporate banking unlike Oceanic Bank that was more into retail banking so you can imagine the devastating effect if it was listed as stressed; would not have survived as long as Oceanic did. An MD from that bank eventually became a CBN governor. Note that corporate bank account holders are more sensitive and delicate than retail bank account holders.

Bottom line is that there is more to the information you see on public domain. There is often some undertones and purposes for churning out the information we come across on public domain.

Every action that Cecelia and the management of the defunct Oceanic Bank engaged and were convicted for was practiced by all the banks at that time. Though it is arguable that Oceanic Bank was most guilty but the fate of Oceanic Bank was sealed by the clandestine, political and vindictive plans of some powerful people in Nigeria with Sanusi as the arrow head.

Your thoughts are very insightful

She a MILF I can bet her pussy is puffy and meaty, I can bet most of you will smash.

Lovelyn451:
Noted...oya next person, what did Sanusi did to u?

Hahaha, e remain make fc barcalona attrlbute its woefull defeat to sanusi lamido