₦airaland Forum

Wonderful start from you guys
That was E-X-C-E-L-L-E-N-T!!!!

going to the goodison and scoring 6
Barca cant do it.
Ive read people condemning Everton, make una wait till una play dem

Thats beautiful and i hope if we dont win, u guys win
Liverpool and Chelsea? Never!

But, wait o, we are dream killers at OT o
so you guys berra watch hw u dance ur palongo when you visit us soon

dayokanu:
Maybe they should put this topic on the front page in order for Notts county to claim the nuts of Brash Alli

abi,
moderator,pls put this on home page

naijatoday:
People, People, Banks are not just any company listed on the stock exchange.

The CBN has a right to fire a CEO, Director on the Board or Chairman. If they have evidence to show the have put the economy of the country at risk.

Who approve thos Directors, CEO,Chairman and Executives? The shareholders approve but the CBN has the final say. If the CBN says NO (with a valid reason), then the shareholders must go back and pick another person.

The CBN is injecting Tier 2 capital (it means putting capital into the banks without buying shares of the company) into the 5 banks.

superstar1:
Nobody cares about what they do with their shareholders fund. What CBN will hold u responsible for --which could mean sack-- is depositors fund. The money loaned out does not belong to the bank, it belongs to nigerians which they should be held accountable for.

Chikena!!!!!!!!!!

Mint!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
anytime i see you on this blog, ill be reading cos ure always too fast to post ma tots
u speak ma mind everytime

It seems to me that the issue is not weather the CBN has the right to legally sack CEOs of banks.  Fact remains that, the CBN has no authority to sack the CEO of any corporation and these CEOs are typically accountable only the board of directors and shareholders.

What is happenening here is a takeover of these named banks by the CBN.  The banks will be otherwise forced into bankrupcy because of capitalization problems. Given the banks' high level of bad loans that are unrecoverable, N400billion at least,  the CBN had to take over these banks and provide the necessary capital to keep the banks afloat.  Since CBN now controls the banks (as a condition for injecting N400b), they become legally empowered to fire the CEOs.[/b]If the CBN had not injected the said funds, these banks would have had to go bankrupt. Imagine what that will do to the economy.

This is the kind of bailout which took place in the US during their savings & loans scandal.

May Allah in his infinite mercies bail Nigeria out of the strangle hold of the thieving elite.

Cheers,

[b]MINT!!!!!!!!!!!!
You dont inject 400billion into corrupt  and incompetent hands.

superstar1:
You can not know every thing about all things in life!!!!!!!!!!people should refrain from passing comment based on sentiment and not based on knowledge.

CBN has all the right to sack MDs because they are keeping other peoples fund and not their shjareholders fund. It is clearly stated in BOFIA Act -- the bible and Quran of all banks. It is one of the regulatory functions of cbn.

thank you my bro
someone even said its because Nigeria is a lawless society
i come begin dey laff in itsekiri

CBN will sack from now till thy kingdom come if you fck up

ocelot2006:
The CBN is a regulatory body and has absolutely no right to sack any CEO. That's unless u're trying to tell me that it owns controlling shares & sit on the boards of these banks. That will not make it impartial. Only the board of directors of these banks can do that.

hehehehe
so much for our learned folks
so my brother, what is ur own understanding of what a CBN (regulatory body) can do in a mixed economy like Nigeria?

The directorate of Banking Supervision in CBN wields a big stick and moreso when the apex bank is doling out a huge sum to stabilise the affected banks.
Since the banks will be receptive of the "new money" then he who plays the piper dictates the tune

its as simple as that. Dont make simple things complex

Tmoni:
snowbox has entered voicemail ooo (or mailerdemon)

dayo, are u related to Lamido Sanusi.

na tough question u give am ooo

dont mind Dayokanu
He just doesnt want to see/hear anything that has to do with England.

if the dude had come up with somthn like "i love Fc Koln" he wont start his rubbish questions

manie:
Sanusi never worked with Standard Trust Bank, he joined first Bank as a General Manager from UBA>

true

Dayokanu
does it matter?

The guy says hes supporting Notts and ure asking jamb questions ;leave the man o

by the way, what page are we on the thread now?
the only evidence to knw hes smashed the testicles is when we dont see that handle on NL again.
an individual with smashed testicles shld die shey?

we dont mind if he comes back with another monicker tho

twinstaiye:
I got myself a good midfield - Arshavin, Cesc, Mikel and Mascherano, while my two pointsmen are the best finisher in premiership - Torres and Eduardo.
Way to go Nigeria-Arsenal!!!

i envy ur midfield ooo
but ur strikers na injury go finish dem

customers?
they sacked MDs not customers

ur money is still there

hehehehe

rasputinn:
@ TKB
Point of correction,Sanusi has not been a top dawg from his FBN days,rather he has been from his STB days,have you forgotten of his numerous brushes with Elumelu and Chika,while he was at STB,I posted something on the stock thread about how he had embarked upon asking Tony and co to provide for some billions purportedly extended to Adamac and co plus a lot of other things,if I can get the link I'll post it here.Even if Tony and Jim escaped this time around,I'm sure the sword of damocles is still hanging over their heads

Finally some level of sanity will be restored in the banking sector

Ras Baba
thank God people on ma wavelength don dey arrive
b4 today, i personally felt Tony was gonna be axed by Sanusi. Its surprising to see the Don himself missing on the list of the axed.
I still strongly feel Tony and Jim will hear from the bank soon except some top level meetings are held.

Ive been longing for when the CBN will be able to do what they are expected to do with no fear or favour.

As for those who are scared of the seemingly plunge in stock prices, hold no fear.
The polity and sector is still fairly stable and all will be well soon.

Invest in good companies and dont bother urself with the daily volatilities arising from occurences like this.

Finecat:
My guy nothing is gonna happen. This is exactly why Yar'adua brought Sanusi in. Whta the heck can Akingbola or Cecilia do to him. These guys are a failure. And i don't trust Sanusi himself. I will begin to build a trust in him when he forces Nigerian banks to start respecting their customers and be transparent. I was informed that Sanusi was very baffled when he saw the audit that he ordered. Jim Ovia will probably be next. Let's wait and see but i think Sanusi will soon merge these banks with some other banks or sell them to foreign investors. I was also informed that he dislikes the unworthy pay of bank executives and bank workers.

Finecat, i dunno why i like to disagree with you
In as much as i cannot say that CBN cannot force the merger of banks because of the recent happenings, but it will take a monumental effort and planning b4 that happens in the new dispensation.
We cannot totally rule out buy outs and other mechanisms but i think its hasty to say CBN can sell dem to foreign investors.
Have they all been declared insolvent and illiquid? if NO, then why would they be sold?
na kulikuli u wan sell abi na CBN get the banks?

babalawo:
http://www, com/csp/cms/sites/Next/Home/5444447-146/CBN_sacks_CEOs_and_management_of.csp


Central banks/reserves bank have such powers
they can take control  of banks management as deem fit, they can be challenged in the court though. Wema bank crises is an example
okay

thank you babalawo
where have you been?

Finecat:
This guy is a clown. When the federal Govt. takes over a bank, what does that mean?? I predicted all this late last year and it's not even up to a year yet. Intercontinental was secretly bailed out early this year and yet they couldn't pull through. Intercontinental would have closed shop since march if not for the help from Soludo. I fully expect Intercontinental to be swallowed by another bank or sold to a foreign investor.

hehehehehe
taking over the reins of a bank for a specified period for managerial ineffectiveness and other ills wouldnt translate to bankruptcy or illiquidity
i know some of them have been in trouble for various reasons but what is happening is far from what you predicted

Jarus:
I opened NL to break this news. It is true o!!!

Sanusi fired a major salvo.

Akingbola gone, Cecilia fired, Nwosu sacked, Adigwe and Ebong shown the exit door. Jim Ovia fired warning.

This is confirmed. No link yet. But I'm very sure. Top finance executives here have confirmed it.

This is serious. Sanusi is stepping on toes.

Cecilia, the amazon of Nigerian banking!!! Akingbola, CIBN president and NSE Vice President!!!

The battle line is drawn. Let's keep our fingers crossed.

my friend, nothin is going to happen
It seems you dont know who Sanusi is.

The man has always been a top dawg from his FBN days. What influence can Akingbola and Cecilia wield in 9ja that Sanusi cannot counter.
Thts a big up to the self styled risk man!

im doffin ma hat already. hes the best man for that position.

Sanusi is a professional not all these agbero/political bankers we have around

Finecat:
Ifeleke, i have always said that you are out of touch with reality. This is confirmed and Erastus Akingbola has resigned this morning. I fully expect EFCC to make some arrest subsequently. If some of you guys go back to my post as far back as last year, i have always predicted this would happen. I expect to see more banks other than these 5 to face serious heat from the federal Government. Bank workers, you better sit tight the days of bounty are long gone. This new guy at CBN means business and my sources are telling me that he is focus on re-capitalizing the bank to 10 banks in Nigeria. Even the so-called GTB and First bank are not that safe. believe it or not. I wonder why everybody is surprise that Union bank is among the 5 banks. Union bank will soon be sold to foreign investors.

Finecat
u didnt predict the sacking of the MDs, you predicted that 9ja banks will collapse in 12 months!

Your 12 months don expire tey tey and no bank has gone under
except u wanna call this exercise banks going under

did someone say CBN cannot or doesnt have such powers?
siddon there!!

Its confirmed and its true

received many calls and mssgs already confirming this

Akingbola? na u don hear am
Cecilia? hmm

TK
If dem tell poor man the requirements for being rich, he opts to remain as he is. . . .U don discover dog head, wetin u go use the thraot and jaw do?

Crizzle thanks for confirming this. . . .i have been shouting my self hoarse about Super-Mods new found love in smoking.
She no longer patronises my IGBO market, i no dey smoke am ooh as she be my highest customer.
She has now added DikeNazi's pubic hair to it. TKB be careful when going after her for the tortoise breast. She might ask for your hair wey dey yonder. . . . . . . . Criz. . .u missed one thing. . . . .there must be a change in nomenclature. TKB417 should change TKB419 or YHO419!
Which one is better?

wetin dey worry u
why would i change when ive not been banned

if im ever gonna change, ill be fine with Yahooze419
u don kolo

@Topic
cant wait for the start of the new season
footie galore
ill be seeing almost all the games (live+replays)
apart from UTD with the Brum boiz, i wanna see hw Citey will respond to the massive expectations from people and also, will the evertonians deal the arses some dirty blows in the begining of the season?

Pool and Spurs shld be interesting too. Lets see if Pool will continue with their killer approach to games this season.

let the season kick off abeg[quote][/quote]

Cristalz:
*clears throat, picks up list (Rafa-style) and adjusts reading glasses*

How to be a super mod. . .requirements:
1)Candidate must posses 3-4 years of modding experience.
2)Candidate must have a good command of the English Language.
3)Candidate must have a good sense of humor and skin thicker than that of a year old Kenyan crocodile.
4)Candidate must be good at smoking Banana leaves, Plantain shoots, Bohemian weed, pubic hair(optional), and Iroko tree bark.
5)Candidate must produce the left breast of a day old tortoise for sacrificial purposes - the gods of the land must be appeased first.
6)Candidate must posses a high tolerance level for the 'mood swings' of the general overseer of the land, Mr. Admin-in-charge.

Please send your CV to Iwant2beasupermod@NLmail.com (in color, please).


Brash and I weren't spamming all over the forum.
As for NL fantasy league. . .hmm. Will check it out.

are u serious i have to do all these?
why shld i be smoking banana leaves? u want me to go mad b4 i assume my post?
and which one be left breast of ijapa
so na the kain rituals u people dey do be this wey dey make una dey kolo

i dont want to be a super mod again.
thank you

Phony200:
Jesus wept. Going to heaven is not even this complicated! Going to hell is even so much easier. Tkb, good luck finding a female tortoise drunkdumb enough to expose her left breast in public. Mood swings of the G. O? Is he gay or something? I think it's the after effects of those potent hallucinogens the mods must be combusting.

u dey listen to them? how can i possibly get all those?
tortoise left breast
Jesus Christ? den dey sell am for sabo market?

i no dey do

ol boi, whts gwan on in our camp?
my prediction tmr is 3-0!!

oleeeeee ajibole

i said 250 not 25k
where i go see tht one

good ure up
see my request up. wanna be a super mod. pls advise me on how to go about it

meanwhile, you and Brash were all over the forum spamming. why?

Nothing is going down jare, just tht we are waiting for the game tmr

dont u wanna participate in our Nairaland fantasy league?
it closes by tmr

u shld be banned for life for this gross pic

no mind am
she go start gbege, participate, come run go delete am

me sef wan apply to be mod.
super mod to fit counter that babe actions sometimes

i don dey compose my letter why i suppose be number 1 mod for NL
if den no gree, na to start impeachment process for tht babe.
whos her likely succesor sef? Sauron?

NL go just scatter

S: both ends with line
D: one is a fixed line usually not mobile while the other is a human carrier that flies in the sky

sex and sex

Kate investigates cecilias kissing story

FLOUT

11.30 tmr is the deadline
i hope Dayokanu and his sooting stars are there already

so people
are we sticking to some prize money or we shld jettison the idea
i dont mind footing it tho

2-0 in favour of Chelsea

2-2

1-1 it will end

although the youthful striker has lost some of the 'unknown' characteristics

what has he lost o crizzle?

ogo ni fun baba, ati fun omo, ati fun emimimo
bioti wa latete kose, onbi nisiyin, beeni yio mari ni igba gbogbo
aye ainipekun amin

olorun mimo/2ce
olorun mimo olorun baba, olorun baba olorun ela
oninu funfun, oniwa funfun, edumare rere lao mape
ofiyun sowo ore osi, goolu sowo ore otun
i don try