₦airaland Forum

rhymz:
Just like I have been arguing since Lamido for reasons best known to him rushed to anounce the sack of these CEOs and further plunge into details of how insolvent thier banks were and almost even declared them bankrupt,obviously,this decision does't look like it was well thought out.Now there are reports that these 5 banks might need up 1trillion due to thier indebtedness both to the CBN and other banks.The question that comes to mind is,what if they discover at the end of the audit exercise that more banks are deeply insolvent?Yes,he was able to decipher the insolvency symptoms from these five banks due to the fact that they accounted for more than 80% of the EDW and the inter-bank market but are these enough guarantees to conclude that the remaining 13 banks won't throw up another shocker?He must have underestimated the extent of the problem to think that anouncing the overhaul of the managements and injecting a mere #400bill into these 5 banks will solve the problem,I guess he now realizes that the problem goes far beyond risk management.For instance,according to report,one of the banks almost immediately exhuasted it's own share of the #420bill,it was reported that the said bank was owing CBN #60bill and other banks #70bill,one just wonders if sanusi and his team did a thorough audit of these banks before rushing out cos obviously they ve been caught unawares.Another question which many of us re not asking is where are these funds coming from?I mean this is a government that is still deadlocked with ASUU over funds talking about saving 5 privately owned banks with #1trillion.Besides,does the national assembly know about this?Is this mystery money coming from Yaradua's or Lamido's pockets?If it's from our reserves then I want to believe it's not a CBN solo project,the merits and demerits of releasing this huge amount will ve to be debated at the national assembly and this might take time,my gues is the banks will have to wait.
I believe Sanusi should ve been a bit patient and do a thorough auditing on all the 23 banks,work out less fatal modalities for solving this problem especially in these areas:formulate laws that make it almost impossible to indulge in bad corporate governance etc,root out the bad eggs in the CBN that ve hitheto given pass marks to these banks even when it was glaringly clear that they were gravely distressed,go after the crooks that have collected huge non-servicing loans from these banks without making any attempts to pay back,evaluate the actual extent of the problem so as to know how much fund to be mobilised to solve the problem and then finally, systematically depose of the management team of the failing banks.This way,his sanitization exercise will be more effective and ppl won't ve any insinuations but with his present mafia style,which makes the situation more about him, there's so much to read into it and they re very strong arguements.God help this country,Sanusi to me,does luk like he has the wit of a CBN governor,he thinks he can be successful without the same ppl he is tryin to fight.The guy is not thorough at all.Rist mgtment my ass.

rhymz:
Just like I have been arguing since Lamido for reasons best known to him rushed to anounce the sack of these CEOs and further plunge into details of how insolvent thier banks were and almost even declared them bankrupt,obviously,this decision does't look like it was well thought out.Now there are reports that these 5 banks might need up 1trillion due to thier indebtedness both to the CBN and other banks.The question that comes to mind is,what if they discover at the end of the audit exercise that more banks are deeply insolvent?Yes,he was able to decipher the insolvency symptoms from these five banks due to the fact that they accounted for more than 80% of the EDW and the inter-bank market but are these enough guarantees to conclude that the remaining 13 banks won't throw up another shocker?He must have underestimated the extent of the problem to think that anouncing the overhaul of the managements and injecting a mere #400bill into these 5 banks will solve the problem,I guess he now realizes that the problem goes far beyond risk management.For instance,according to report,one of the banks almost immediately exhuasted it's own share of the #420bill,it was reported that the said bank was owing CBN #60bill and other banks #70bill,one just wonders if sanusi and his team did a thorough audit of these banks before rushing out cos obviously they ve been caught unawares.Another question which many of us re not asking is where are these funds coming from?I mean this is a government that is still deadlocked with ASUU over funds talking about saving 5 privately owned banks with #1trillion.Besides,does the national assembly know about this?Is this mystery money coming from Yaradua's or Lamido's pockets?If it's from our reserves then I want to believe it's not a CBN solo project,the merits and demerits of releasing this huge amount will ve to be debated at the national assembly and this might take time,my gues is the banks will have to wait.
I believe Sanusi should ve been a bit patient and do a thorough auditing on all the 23 banks,work out less fatal modalities for solving this problem especially in these areas:formulate laws that make it almost impossible to indulge in bad corporate governance etc,root out the bad eggs in the CBN that ve hitheto given pass marks to these banks even when it was glaringly clear that they were gravely distressed,go after the crooks that have collected huge non-servicing loans from these banks without making any attempts to pay back,evaluate the actual extent of the problem so as to know how much fund to be mobilised to solve the problem and then finally, systematically depose of the management team of the failing banks.This way,his sanitization exercise will be more effective and ppl won't ve any insinuations but with his present mafia style,which makes the situation more about him, there's so much to read into it and they re very strong arguements.God help this country,Sanusi to me,does luk like he has the wit of a CBN governor,he thinks he can be successful without the same ppl he is tryin to fight.The guy is not thorough at all.Rist mgtment my ass.

rhymz:
My Opinion about this whole brouhaha is that Sanusi has taken the right decision by sacking these erring CEOs & their management.However,i have a problem with the timing and the manner he is going about it.We all know his selection to be the CBN governor was contentious,there were also a lot of questions about his suitability for the job,all these are enough to put pressure on him to do sth,hence the need to carve a niche for himself and prove his critics wrong.Now, looking at it from this view point,I think Sanusi should ve exercised more caution,a bit of restraint and more finesse in the anouncement of the sack of these bunch due to the following reasons:
1.People will suspect a foul play in the way he rushed to anounce the results & sack of these CEOs,afterall,only 10 of the 23 banks have been audited why not wait to complete and do a thorough job before the anouncement.Why was it so urgent that he could not wait to finish the remaining 13 before getting sensational.Did he want to score some cheap political points? Or was he trying to tell Nigerians that he was a tough,no-nonsense guy unlike his predecessor without minding the effect this will ve on the confidence of our banking sector which brings me to reason 2.
2.This hasty anouncement which lacked tact & skillful timing amounts to a double-speak by Sanusi when he refuted the news by a foreign news magazine that alleged that almost all nigerian banks were not sound.Perhaps,he wanted to douse any panick from depositors when he refuted that report,I wonder why he did't tow this same line before rushing out to anounce the insolvency level of these 5 banks knowing fully well that this might erode the already bastardized confidence in the banking sector and the economy at large.What exactly is the difference between that foreign report and his hasty & tactless anouncement?Nigerians are still trying to recuperate from the stock market crash and he as a CBN gov thought the best way he could help was to be brazen in his effort to sanitize the system without taking precautions if the public can withstand his style of sanitization.He claims that the FG has already provided #400bill to cushion the effects on this 5 banks,I ve reservations about the authenticity of that claim but I will overlook it and assume it was true but can that stop an already panicked depositors who ve heared your anouncement and want to withdraw all his money from these banks.
In conclusion, I think Sanusi should be very carefull not to get a boomerang!

Beaf:
Fool.

rhymz:
At The Amaka,the way U argue makes me wanna call U a kid.What do U mean by "those bush Nigerian girls".The only difference btw them & U is privilege,it does't mean U re better than them,a majority of them won't make that mistake if they had just half of your privilege.U talk abt Nigeria like the ppl there re morons,incase U don't know,the US,your Eldorado is No:1 when it comes to weird cases like paedophilia,child porn,teenage pregnancy,homosexuality,bestiality,incest and so on,so pls save us those innuendos.
@All,let's face the issue here & stop acting holier than thou,this is Africa,it's very legal to ve a 28yr old date a 16yr old provided the suitor has the consent of the girl's parents.The arguement of whether she's a minor or not is a matter of legal technicalities depending on the laws of such country it's not nature's law that only 18yrz re deemed as adult,afterall, i ve seen some very immature ppl in all ramification at 18,likewise a 16yr old that's way mature than her age tellz.My point is,In africa,there is nothing strange abt it as long as the guy is capable of having a family and there is a consenting agreement btw both families.All that paedo name callin should be reserved for those weirdos in the US and europe.

rhymz:
Just like I have been arguing since Lamido for reasons best known to him rushed to anounce the sack of these CEOs and further plunge into details of how insolvent thier banks were and almost even declared them bankrupt,obviously,this decision does't look like it was well thought out.Now there are reports that these 5 banks might need up 1trillion due to thier indebtedness both to the CBN and other banks.The question that comes to mind is,what if they discover at the end of the audit exercise that more banks are deeply insolvent?Yes,he was able to decipher the insolvency symptoms from these five banks due to the fact that they accounted for more than 80% of the EDW and the inter-bank market but are these enough guarantees to conclude that the remaining 13 banks won't throw up another shocker?He must have underestimated the extent of the problem to think that anouncing the overhaul of the managements and injecting a mere #400bill into these 5 banks will solve the problem,I guess he now realizes that the problem goes far beyond risk management.For instance,according to report,one of the banks almost immediately exhuasted it's own share of the #420bill,it was reported that the said bank was owing CBN #60bill and other banks #70bill,one just wonders if sanusi and his team did a thorough audit of these banks before rushing out cos obviously they ve been caught unawares.Another question which many of us re not asking is where are these funds coming from?I mean this is a government that is still deadlocked with ASUU over funds talking about saving 5 privately owned banks with #1trillion.Besides,does the national assembly know about this?Is this mystery money coming from Yaradua's or Lamido's pockets?If it's from our reserves then I want to believe it's not a CBN solo project,the merits and demerits of releasing this huge amount will ve to be debated at the national assembly and this might take time,my gues is the banks will have to wait.
I believe Sanusi should ve been a bit patient and do a thorough auditing on all the 23 banks,work out less fatal modalities for solving this problem especially in these areas:formulate laws that make it almost impossible to indulge in bad corporate governance etc,root out the bad eggs in the CBN that ve hitheto given pass marks to these banks even when it was glaringly clear that they were gravely distressed,go after the crooks that have collected huge non-servicing loans from these banks without making any attempts to pay back,evaluate the actual extent of the problem so as to know how much fund to be mobilised to solve the problem and then finally, systematically depose of the management team of the failing banks.This way,his sanitization exercise will be more effective and ppl won't ve any insinuations but with his present mafia style,which makes the situation more about him, there's so much to read into it and they re very strong arguements.God help this country.

rhymz:
Just like I have been arguing since Lamido for reasons best known to him rushed to anounce the sack of these CEOs and further plunge into details of how insolvent thier banks were and almost even declared them bankrupt,obviously,this decision does't look like it was well thought out.Now there are reports that these 5 banks might need up 1trillion due to thier indebtedness both to the CBN and other banks.The question that comes to mind is,what if they discover at the end of the audit exercise that more banks are deeply insolvent?Yes,he was able to decipher the insolvency symptoms from these five banks due to the fact that they accounted for more than 80% of the EDW and the inter-bank market but are these enough guarantees to conclude that the remaining 13 banks won't throw up another shocker?He must have underestimated the extent of the problem to think that anouncing the overhaul of the managements and injecting a mere #400bill into these 5 banks will solve the problem,I guess he now realizes that the problem goes far beyond risk management.For instance,according to report,one of the banks almost immediately exhuasted it's own share of the #420bill,it was reported that the said bank was owing CBN #60bill and other banks #70bill,one just wonders if sanusi and his team did a thorough audit of these banks before rushing out cos obviously they ve been caught unawares.Another question which many of us re not asking is where are these funds coming from?I mean this is a government that is still deadlocked with ASUU over funds talking about saving 5 privately owned banks with #1trillion.Besides,does the national assembly know about this?Is this mystery money coming from Yaradua's or Lamido's pockets?If it's from our reserves then I want to believe it's not a CBN solo project,the merits and demerits of releasing this huge amount will ve to be debated at the national assembly and this might take time,my gues is the banks will have to wait.
I believe Sanusi should ve been a bit patient and do a thorough auditing on all the 23 banks,work out less fatal modalities for solving this problem especially in these areas:formulate laws that make it almost impossible to indulge in bad corporate governance etc,root out the bad eggs in the CBN that ve hitheto given pass marks to these banks even when it was glaringly clear that they were gravely distressed,go after the crooks that have collected huge non-servicing loans from these banks without making any attempts to pay back,evaluate the actual extent of the problem so as to know how much fund to be mobilised to solve the problem and then finally, systematically depose of the management team of the failing banks.This way,his sanitization exercise will be more effective and ppl won't ve any insinuations but with his present mafia style,which makes the situation more about him, there's so much to read into it and they re very strong arguements.God help this country.

rhymz:
Just like I have been arguing since Lamido for reasons best known to him rushed to anounce the sack of these CEOs and further plunge into details of how insolvent thier banks were and almost even declared them bankrupt,obviously,this decision does't look like it was well thought out.Now there are reports that these 5 banks might need up 1trillion due to thier indebtedness both to the CBN and other banks.The question that comes to mind is,what if they discover at the end of the audit exercise that more banks are deeply insolvent?Yes,he was able to decipher the insolvency symptoms from these five banks due to the fact that they accounted for more than 80% of the EDW and the inter-bank market but are these enough guarantees to conclude that the remaining 13 banks won't throw up another shocker?He must have underestimated the extent of the problem to think that anouncing the overhaul of the managements and injecting a mere #400bill into these 5 banks will solve the problem,I guess he now realizes that the problem goes far beyond risk management.For instance,according to report,one of the banks almost immediately exhuasted it's own share of the #420bill,it was reported that the said bank was owing CBN #60bill and other banks #70bill,one just wonders if sanusi and his team did a thorough audit of these banks before rushing out cos obviously they ve been caught unawares.Another question which many of us re not asking is where are these funds coming from?I mean this is a government that is still deadlocked with ASUU over funds talking about saving 5 privately owned banks with #1trillion.Besides,does the national assembly know about this?Is this mystery money coming from Yaradua's or Lamido's pockets?If it's from our reserves then I want to believe it's not a CBN solo project,the merits and demerits of releasing this huge amount will ve to be debated at the national assembly and this might take time,my gues is the banks will have to wait.
I believe Sanusi should ve been a bit patient and do a thorough auditing on all the 23 banks,work out less fatal modalities for solving this problem especially in these areas:formulate laws that make it almost impossible to indulge in bad corporate governance etc,root out the bad eggs in the CBN that ve hitheto given pass marks to these banks even when it was glaringly clear that they were gravely distressed,go after the crooks that have collected huge non-servicing loans from these banks without making any attempts to pay back,evaluate the actual extent of the problem so as to know how much fund to be mobilised to solve the problem and then finally, systematically depose of the management team of the failing banks.This way,his sanitization exercise will be more effective and ppl won't ve any insinuations but with his present mafia style,which makes the situation more about him, there's so much to read into it and they re very strong arguements.God help this country.