₦airaland Forum

i have read so many ppl post on this blog and i am really sorry for nigeria ,is this really the way ppl think,am not surprised at the way the government are handling the ppl,cos they deserve it ,pll who dont sit down and think before they come out and make statements ,if the banks are distress have ppl gone there and did not have their monies given to them , before u have a bank in nigeria u must have atleast 5 billion as deposit what is happening to the money in the cbn coffers,nigerians are fools and foolish indeed and they deserve the government they have

becos if they dont they will be rubbished this is nigeria,wake up man ,why are u so biased

now what i said b4 is coming to pass,quick to act on banks but slow to act on politicalk theives,what about the remaining banks and the report ,u keep ppl in detention just to make sure,what,this efcc ppl are crazy and its becos nigerians are falling for their stupi scripts,sanusi wont last and thats the fact,becos u cant treat ppl this way,i dont have a problem with the banks and ppl should stop complaiuning cos this banks have done well in outside nigeria,what was the state of the banks before,let them arrest the pdp members who have collected this monies and let ppl rest their,fast at over throwing band mds and ppl are clapping, nonsense

can u finance if i get a bank gurantee for supply to the ghanian government payment is after delivery so they said,holla me if u can 233248595741

tubo do a commercial for a communication network like mtn and i will market it for u in ghana

this is just a script,nigerians are insincere with themselves even if the banks dont give,where they even suppose to give loan at the first place,even if to who ,to nigerians who will collect the loans and disappear,dont we have micro finance banks,why do u go to a bank without knowing what their objectives are,do u know how much they pay to run this banks with the power failure and co,pls i dont understand what is wrong with us just because we think they dont give loans then we should crucify them,all that is going on is just sham,why cant efcc move in on politicians like they are on the bank m.ds,where is the due process

Tuesday, August 25, 2009




More Stories on This Section
The Nigeria Bar Association (NBA) has warned that failure to follow due process in the sanitization of the financial institutions will erode public confidence in the process. NBA gave the warning in its appraisal of the exercise in a statement signed by its President, Oluwarotimi Akeredolu. In the statement the NBA urged the regulators of the system to follow due process in dealing with the latest development in the banking industry.

Warning against any arbitrary change in the character of ownership of the five banks whose managements had been axed by the Central Bank of Nigeria (CBN), the NBA said: “It is our hope that the shareholders in particular, the generality of the public, will be taken into confidence before any fundamental alteration of the character of the ownership structure of the affected companies is effected.

“Acting otherwise will further erode the already shattered trust between the investing public and the financial managers on one hand in addition to accentuating the doubts expressed by some in sanitization crusade.”
Taking a critical appraisal of the on-going exercise, the NBA while commending, it expressed concern over the anxiety of Nigerians and the danger posed to the nation’s financial sector, especially as doubts were being expressed about the real motive.
Specifically, the NBA noted with concern, and described as indiscretion the comment of the CBN Governor, Lamido Sanusi expressing preference for the sale of the banks “when none of them has been declared insolvent and incapable to meet its obligations to the depositors and shareholders.”

Also, the statement faulted the undue excitement of the Economic and Financial Crimes Commission (EFCC) and the one-week ultimatum given to the debtors of the commission’s boss, Madam Farida Waziri, contending that the statements credited to Sanusi and Waziri in the unfolding drama “cast a heavy shade of suspicion on the seeming altruistic intention of the governor.”

While insisting that government functionaries saddled with the responsibilities to sanitize the system adhere strictly to the extant laws, NBA warned, “No arbitrariness must be contemplated in resolving these issues. Debtors are under obligation to pay their debts within agreed contractual and legal framework. “Those who default should be made to face full sanction within the ambit of the law. We must allow the law to dictate the steps to be taken in dealing with those involved in sharp practices,” NBA said.

It would be recalled that the financial sector virtually erupted like a volcano on August 14, 2009 when the CBN governor in a special statement sacked the chief executive officer of five notable commercial banks, Union Bank Plc, AfriBank Plc, Finbank Plc, Intercontinental Bank Plc and Oceanic Bank Plc over alleged mounting non-performing loans.

In a swift move, the Federal Government expressed its total support for the action of the new CBN governor and directed security agencies, particularly the EFCC to move and prosecute those indicted in the alleged failure of loans granted by the banks.

Following the government directives, EFCC swooped on the top executives of the affected banks. Three of the managing directors were arrested along with several top management staff.
However, both Erastus Akingbola and Cecilia Ibru of Intercontinental Bank and Oceanic Bank respectively sought refuge in the court slamming N50 billion suit each on the CBN and Sanusi over their dismissal from office alleging injustice, lack of fair hearing and deliberate victimization

Ahead of today’s deadline by the Economic and Financial Crimes Commission (EFCC), high profile debtors on Monday scampered to pay up. Consequently, over N10 billion was reportedly recovered as at Monday afternoon. Five banks had last week fell under the hammer of the Central Bank of Nigeria (CBN).

Those who made payments included Alhaji Aliko Dangote, said to have paid a sum of N3.1 billion and Global Fleet boss, Mr. Jimoh Ibrahim who reportedly paid Oceanic Bank the sum of N3 billion by wire transfer.

The bank had by a letter dated May 18, 2009 put the total indebtedness of the Global Fleet Group at N8 billion having acknowledged previous payment of another N3 billion between December 2008 and May this year. Acknowledging yesterday’s payment, Oceanic Bank in a letter thanked Ibrahim for his continued cooperation.

“The bank undertakes to refund to you any excess charges or debits on the account that is not authorized by you, or interest rate that is not in compliance with our term of loan as soon as the reconciled account is mutually agreed upon,” it said in a letter yesterday to Ibrahim.
Ibrahim said his loan was performing and blamed Oceanic Bank for any outstanding in the account which he attributed to poor banking relationship.

According to Ibrahim, in 2007 alone, Oceanic Bank, by a letter dated May 23, 2007 credited Global Fleet account with N1.98 billion being reversal of excess charges and accrued interest on the company’s account.
“When a bank by its own admission and confession say it overcharged our account with two billion naira, CBN should be cautions, it should figure out what exactly the debt profit is. This is way I said our company’s account with Oceanic Bank should be audited for the first time in five years,” Ibrahim said.
He said Global Fleet has no reason to stop its relationship with Oceanic Bank but advised the bank to be transparent.

Advising other debtors, he said everyone should pay first and complain later. This, he said, will assist the banking reform.
He maintained that CBN will succeed only if it publishes exactly what everyone is owing and avoid computer error that has reduced some people’s debt.
However, apart from several top flight debtors who thronged the EFCC offices to make payments, some others who are apparently cash-trapped, were said to have deposited documents of their magnificent landed property in lieu.

Determined to ensure that those behind the non-performing loans in some commercial banks across the country are compelled to pay up to the last dime, Chairman of the EFCC, Mrs. Farida Waziri, was said to have temporarily relocated her office to Lagos with effect from today, to fully take charge of the debt recovery exercise for which 100 operatives of the commission and two units of mobile policemen have been deployed.

An official of the commission, who pleaded anonymity, told Daily Sun that all the operatives and personnel of the Police Mobile Force (PMF) deployed for effective security cover during the exercise, are expected to arrive Lagos as at yesterday.
EFCC spokesman, Femi Babafemi, confirmed the development. He said the measures are a manifestation of the assurances given by Mrs. Waziri that no bank debtor will escape justice.

where was the banks before soludo came ,in the hands of the north and what where they doing ,using peoples monies for their own selfish gains,nigerians seem to be carried away by all this noise making , i am not in the coutry but every one in europe and its like have come out to fault the cbn governor,why come out quickly to pass judgment when banks accounts are still auditted,why not help the banks before take over like it was done in the united states,abu dhabi and co are interested in our banks cos they are vibrant if we fail to regulate properly how come our banks are in the top 15 in the world,we should be careful and stop being carried away by all this gimmicks the truth is that the north felt obj brought in soludo to sideline them,he who controls the banks controls the economy that is the battle going on now,

pls lets be objective, ibb ,abacha,buhari and the rest wrere not better than obj,atleast he tried to open up the system ,if the governors looted was that his problem ,we have state assemblies what did they do ,on the issue o f nigerdelta,who is to be blamed the nigerdelta senators couldnt push for a better deriavation formula so why are we shouting ,even the southwest all are corrupt including opposition bola tinubu so what do u expect obj to do,he worked with the materials he had atleats dora was not infected and ribadu wasnt either but look at the situation now,i know his game plan didnt work,he actually thought yaradua wont make it this long and jonathan would have taken over but,

he runs live to fight another day,we have seen ppl arrested because some ppl dont like their face,am not in support of anybody just let the right things be done,there is a process let the cbn governor follow due process

was that how the issue was address in countries like the u.s,this is political and nigerians fail to realise it , some have come out to say their debts are performing so whats cbn problem ,u dont just start going up and down causing tension ,check ur books first release real figures,this banks will be taken over by some elites up north or those who were not favored by the consolidation, nigerias banking system is one of the safest in the world because they dont give loans anyhow and if they give its for those with good collateral so ,if they default auction the collateral simple,we are not changing at all.its a shame that nigerians are brainwash over and over again

pls lets watch the way we address this men,some good pastors could do bad things dat dont mean they are not called by god,however africas problem is more of our own greed and cowardice than queen of sheba,i want to know what were the pastors in liberia doing before oyedepo came, and i heard some one saying prophets are not respected ,where,try elijah and elisha and samuel,even mr isiah,we need to wake up

i am surprised at most of u ,do u people think before u type or what,what has the man said ,did he ask them to plan a coup,no,he only said they should speak up ,that i would say is very patriotic,in an era when the armed forces have been used to harrass innocent citizen its healthy to tell them to spaek up against political manoveuring,if the government is doing well we will no need the military to invade the nigerdelta ,we will not need the military to militarise the country,if they go on peace keeping mission they should be paid,are this people not nigerians,well now i know why people just dont prosper in this country ,its a shame,if a military coup will put our ass in order ,so be it

`this is nothing but a northern agenda to rule over the finances like they did before obj came and consolidated the banks and they all lost out,who are the highest beneficiaries of this loans,are they not the dangotes,otedolas and the likes ,men who funnded pdp including the theiving south south governors who all have politacl fathers up north.ok i wish nigeria well,i see selective justice,for the north its payback time,no federal character they are taking over everything.

nothern agenda.even madoff took time before he was finally convicted,if mrs ibru is convicted that means efcc is a sham,to convict ibru u must first convict ibori cos na im ruin the bank with loans,so lets start and see how many pdp ppl go go jail, this na super story nothing go happen

kaydee do u think before u type or type b4 u think,what were they looking at for two years abi u no sabi read,wetin dey do some nigerians, if u dont know what to say pls go and sit down.if ur friend papa sit for back of church na im wahala be that ,who send am message,ignoramus

i like the way things are turning out in naija now atleast we now know the true men of god, u marry a man and after two years of the marriage u decide it is wrong to marry ,this pastor is close to the g.o,what the hell is wrong with this ppl.good all those who play with the word of god will reap it ,no where in the bible did jesus say dont re marry ,only paul the apostle said so and in the beginning of the verse he said , i not the lord,so what, this is just the beginning,more are going to come,

i dont understand people ooooo,why are u guys fighting over source when we all know that ,this men are from two different world,fashola has proven to me that he can work.i love him and will always pray for him however he has to surround himself with men of valor cos there is more to come

I DO BUSINESS IN GHANA ITS JUST JEALOUSY AND ZENOPHOBIA,GHANAIANNS ARE ALL TALK AND NO WORK.WE WORK HARD HERE AND THEY JUST ENVY ,WE DRIVE THE BEST CARS THEY JUST ENVY,I HAVE BEEN WORKING WITH SOME FRIENDS AND SINCE THE INCEPTION OF 2009 ONLY THREE NIGERIAN CRIMINALS HAVE BEEN CAUGHT AND OVER 52 GHANAIANA CRIMINALS HAVE BEEN CAUGHT AND KILLED BY THE POLICE.LETS STOP RE ACTING TO THIS PEOPLE,NIGERIANS IN GHANA ARE HANDLING THE ISSUE,WE ARE STRONG AS THEY COME,THEY ENVY OUR BANKS EVN OMATEK COMPUTERS,THE RUN THE ENTERTAINMENT INDUSTRY HERE ,WE ORGANISE THIER AWARDS ALSO,SO LET THEM START AND WE WILL RESPOND,OBANIKORO IS DOINGA GOOD JOB AS OUR AMBASSADOR,AM NOT SURPRISED,HE IS LASHING OUT AT THEM AND ALSO TELLING NIGERIANS TO BEHAVE
NIGERIA YES I BELIEVE

Nex pls always try to be objective,the vote count in florida was to be recounted and clinton asked kerry to allow george bush because he knew bush wouldnt perform,clinton was thinking ahead of americans,he saw the future,kerry was to contest the elections but the bone and skull came out with the america first philosophy and who is reaping the fruit of the democrats labour in patience,not hilary not john kerry but obama,america is corrupt but america will not steal its wealth and put in a foreign bank ,america would not allow its citizens to ritt in foreign jail cell,america will rather steal from other coutries to feed her own people,what will nigerian leaders do,
people like you are the problem of nigeria u dont look at issues u just talk before thinking,if u are truely a nigerian then u should be concerned rather than ,making unrealistic analysis of what she has said,she doesnt hide her feeling wether diplomacy or not americans know her and they are pleased to have her as the secretary of state,while we are here rebranding a failed state
NIGERIA YES I BELIEVE

let them do whatever they want to do ,it is politically motivated ,we stand and we shall not falter,the south will prevail no matter what they try to do,just stop attacking eachother and lets brainstorm and share informations,we are more enlighten and we should all act as one.nigeria yes i believe

ibb is planning a come back,this is a script,nl will say i said it

tinubu is in ghana for his own personal business, i see him some times ,he doesnt have the interest of nigeria at heart i can tell u dat,if he was president he would have been doing the same thing pdp is doing,why is fashola performing more than tinubu even when the world is witnessing a recession,am not a yoruba man but i love and worked for the progressive,ponmile ayodele,sowore,yemisi omotosho and the like of iginla, where are they today we all left the struggle because we were used against abacha and after that what happen,they only shout when they are not in power but when they are ,its hooliganism in the highest order,lets wiat for 2011,i will be back in niger before then,NIGERIA YES I BELIEVE

i will never forgive tinubu and i know he is a demon but i dont fear him,i only pray for fashola and those with a good heart for lagos,am niger deltan but love lagos as my home , tinubu was the greatest fraud that ever happened to lagos, a democrat indeed

clinton was not hawk and he was not a poolitician as such ,what about barrack obama,tinubu nevar tasted power even the senator wey im dey carry about he no for one day tsep into that chmber,what is politics the ability to gevern with policies,godd policiees,its not old we want we want new ideas that will work,chris is a practical person and thts why i think he will doo the job.wether he is a  new generation politician o r he is of the old

yeah , i hared waht u all are saying my point here is that i have worked closely with him and i know wht he can do,obj has not said he is a democrat and i wonder why ppl are dis appointed in him he neva said he was a democrat, the problem with us as nigerian is that we fail to look at issues,
tinubu cracked and destroyed A.D,he fought his deputy ,and set up an alternate party,,,now to be relevant he has to be loud mouthed because he knows he cant be arrested cos they alll belong to the same cult,and that is why things will not work bcause ,in this cult no body betrays the other,if not obj would have try to get rid of anthony aneneih for his role in truncating his third term abition.
tinubu is just obj in a magnified form,,,simple.lets try chris okotie some one who will consider good name rather riches

yeah , i hared waht u all are saying my point here is that i have worked closely with him and i know wht he can do,obj has not said he is a democrat and i wonder why ppl are dis appointed in him he neva said he was a democrat, the problem with us as nigerian is that we fail to look at issues,
tinubu cracked and destroyed A.D,he fought his deputy ,and set up an alternate party,,,now to be relevant he has to be loud mouthed because he knows he cant be arrested cos they alll belong to the same cult,and that is why things will not work bcause ,in this cult no body betrays the other,if not obj would have try to get rid of anthony aneneih for his role in truncating his third term abition.
tinubu is just obj in a magnified form,,,simple.lets try chris okotie some one who will consider good name rather riches

now i see what is really going on in this country,when we needed to equip my church with air conditions we did not set up clubs,if people want to give do they have to be in a club,i really dont understand,now i know why a lot of men of god never supported chris okotie ,because they know he will clamp down on them, giving is not by force so ,if u wan give give but give wisely.jesus did not set up a club and we are suppose to immitate him.na waohh