₦airaland Forum

^^^^^ The guy kid, is confused and wondering, HOW THE HELL DID GET HERE?!!!!!!!!!!!!!!!!![/

rflmao,

No doubt Soludo did his bit with consolidations if not for that maybe all the banks would have disappeared now, or they would not have had the gut to take all the risks they took since they would not have cash that was beyond their ability to control, who knows. having said that, doing well in one aspect does not means we should not talk about where one did not do so well. He did not do well in managing the recklessness of the banks

In America, reccession was partly as a result of mortgage debtors unable to pay due to loss of revenue sources, while in Nigeria people collected huge amount to buy shares based on speculative unrealistic returns, then the shares crashed, also lots of unsecured loans were given to all kinds of persons.

In America and UK, when people means of loan repayment was dwindling, bank reduced interst rate to almost nothing so that they could get another loan to refinance
In Nigeria when people unable to pay loans,  banks jack up the interest rate and continue to capitalized unpaid intrest.
I think we need to campare apples with applies

Very unfortunate some people lost their jobs. The banks are like accidents waiting to happen, even under Soludo some international financial monitors have been saying only 4 banks were sound in Nigeria, instead of telling the truth and dealing with it Soludo kept telling us "no big deal".

Imagine ECOBANK entered into merger plans with three banks and pulled out when they saw real situations that they were hiding from the public.

How can there be an end to a rot when the action of banks did not change. How can a bank give loans for people to buy their own shares at 16% apr then when the share crashed and the people unable to pay, the banks raised the interest rate to 22%, continue to capitalized the unpaid interest also reporting it as expected revenue, even the people have abandon the accounts and the share used as collateral have become worthless, we are now blaming Sanusi for telling the banks that those money should be considered gone and correct for them.

adolfe bad:
Eyin omo yoruba gbogbo bawo le se n prepare fun kristmas? E se jeje o

Omo Hausa, lol, daadaa l'awa omo Yoruba wa o, Odun ti ndun sugbon ti awon ara wa ni ile ifowopamo ti ise nbo lowo won yii da bi nkan ooo.

lanrelagos:
akute, abaranje, ogolonto, ipakoda, waterside, ijegun, ikotun, alimosho, iragbiji, ijora badiya, boundary,
these are cool ares, try them out

lol, Where again is Iragbiji in Lagos, I know the only one in Osun State?

Ikoyi, if you can afford it.

^^^^ You can also offer to work through the period to cover for those who really need to have the holiday. I always plan my vacation to free both Ramadan and Eld Kabir for me while I give the option of "whatever happens" to Xmas and New Year period.

Dr Ferlie:
Hey Remi, How is work? Long time!!!

Dr Ferlie, am doing great, still turning it to the right while making sure nobody gets hurt. Nice reading your responses too.

Guys, these are not best of times for Nigerian bankers check this link: http://www.proshareng.com/news/singleNews.php?id=8312
5000 more may go before YEAR2009 is concluded.

Drillers, how deep are we? lol

parislomo:
ede times ede rashida customer iyawo shola erin bola odabo odabo kayode!! This was to spell EXERCISE BOOK! Lwkmd,

Uhummmm!!! same here,

IBADAN= Ipata Boys Are Dangerous At Night.
GOWON= Go On With One Nigeria

I don't bank with either but as a shareholder GTB is far better on ROI.

princekevo:
The same question i wanted to ask. That is question many of us here chide away from, rather pointing accusing fingers here and there. I thought this same UBA was among the banks certified healthy few months ago. How come they are suddenly starts laying off workers jst like other failed banks?

The fact is that all of them have failed but some have terribly failed more than others, QED.

Johnbull my son
I sent you to school
You don't know how to spell your name
J O H N B U L L
You don't know how to spell your name
Johnbull my son
I sent you to school
You don't know how to spell your name

jo o mio ri aaye.

I pray for his quick recovery, I also ask people to pray for him too. These I do for him as a fellow human being and because for him to get well is better for Nigeria situation as it would avoid possible succession crisis

Honestly, I think it is Alao Akala, a travel Ibadan would make one wonder if they have any governor at all. The other contender should be Ali Modu Sheriff of Borno, this guy boldly told the journalist that they were wasting their time wrting bad things about him because less that 5% of his people could read or write.

indeed, you are welcome

johnkenty:
that man called mr sanusi lamido shld resign now.he has caused so mch anguish in the lives of many nigerians by his deadly banks rescue strategy.

the man who should have been tied to electric chair would soon become the governor of anambra state

BrutusOne:
Unless women can also marry more than one husband, I will support laws against polygamy. And those making the dumb assertions that woman are more than men in Nigeria have baseless arguments - it seems that way because women are disproportionately represented in education, in the workplace, etc. So, most single women are poor – but marrying as many women is not the solution. That is just another form of oppression!

The country will be nothing until women are afforded the same rights as men – period!

It has been practiced in the past and abandoned, so going back to it would be retrogressive, lol.

Bi e ba nsoro erora f'oye soo,
Bi e ba nsoro erora f'oye soo,
Eni ba de ile iwe wa
Awo awoyanu
Eni basi mo yo ise
A yin Tisaa wa.
Iwe kiko
Lai si oko ati ada
Koi pe o, koi pe ooo.

Wherever you go oo, ,  go go go ngo
Wherever you be ee, ,  Sisi Eko
Dooo not say yeees, when you mean to say nooo!!!!

Ki lo mu ponmo wa
Awo eran lomu ponmo wa,
Ki lo mu ponmo wa
Awo eran lomu ponmo wa,
O le iyan wonu
O le eba wokun
Otun wa joba lori iresi
Awo eran lomu ponmo wa
Abi bee ko oo
Aa bee naaa ni.

Nigeria we hail thee
Our own dear native land
Though tribes and tongues
May differ, in brotherhood we stand
Nigerians all, are proud to serve
Our sovereign motherland.

@kunolu, you got me wrong, I am not referring to chief's points but my friends like Naijaking1 and Beaf that would not want to acknowledge any good in Sanusi's actions. You may have to read the trend from beginning.


No credit crunch in the economy, says Sanusi http://www.proshareng.com/news/singleNews.php?id=8244

Reduced lending by banks as a result of the ongoing reforms in the banking sector does not translate to credit crunch, the Governor of the Central Bank of Nigeria, Mr. Lamido Sanusi, has said.
He said although credit to the private sector declined between January and March 2009, it grew by 20 per cent between March and November. He, however, did not give a definite figure.
Sanusi, who spoke at the sidelines of the Bankers‘ Committee‘s press briefing in Enugu on Sunday, said credit had grown every month from April, adding that what obtained in the past had contributed to the problems the sector was facing currently.
His reaction came on the heels of complaints about the dearth of credit in the economy, occasioned by banks‘ current focus on aggressive loan recovery.
He said, ”I have the figures. There was a decline in credit between January and March, but between March and November, credit to the private sector increased by 20 per cent, and credit has increased every month from April to November.
”People are used to the 2007 and 2008 period when credit was growing at between 70 per cent and 80 per cent, the bulk of which was going to stockbrokers and to people who should not have received credit in the first place. But the banks were giving them because they were not compelled to make provisions.
”Now, they are being very careful. If they are not convinced that you can pay, they will not lend to you. A growth of 20 per cent is not a credit crunch. The Gross Domestic Product has grown by 7.5 per cent even though it has not grown as much as it would have grown if the money had gone to the right sectors.”
According to the CBN‘s Economic Report for the Second Quarter of 2009, “At N5.7tn, aggregate banking system credit (net) to the domestic economy increased by 17.8 per cent in the second quarter of 2009, as against the decline of 2.6 per cent in the preceding quarte
It said, ”Banking system‘s credit to the private sector rose by 3.6 per cent to N8.3tn, compared with the increase of 1.3 per cent in the preceding quarter.”
The CBN governor also said the apex bank was working on the entire regulatory framework of the microfinance sector, adding that it had started a process that would compel a managing director of a microfinance bank to go through a certification process.
”We have started a process now where anybody who is a managing director of a microfinance bank has to go through a certification process, and if the consultants do not certify you, you can‘t run a microfinance bank. We have a framework for regulation and supervision and we will come out with guidelines,” he said.

e be like say the Sanusi attackers a la Vanguard Newspapers concocted "Northern Agenda" are out of points, abi wey Naijaking1, Beaf et al,

Just like someone has written, it seems like we Nigerians complain too early about everything. I remember some people praising So ludo's consolidation today blamed and condemned the guy till end of his term. Banks are not lending for just 4 months now and we are today complaning. When they were lending who did they give the moneies to, were they not the share manipulators and property speculators? Which manufacturer can borrow money at 35% per year interstest. I believe with better strategy by banks in next few years all would be better for Sanusi's bare it all policy.