The Skye bank board did not commit any offence. Nobody on the Skye bank board committed any crime. They did not break any rule or any law, banking or otherwise but some of their loan advancements had become non performing, probably because of an over exposure to the oil and gas sector which is now at a low but that happens everytime in the economy, banks slow down but their capital is never lost as a result of that, only not productive at the moment, something that will change when things shape up in the affected sector but the CBN removed the bank board and replaced them with government cronies who will run down the bank as directed by the government!. How do you remove the board of a public company and replace them with government cronies? Where in the world does that happen? Give me examples. This is a company worth over 1.5 trillion naira!. And how in hell or heaven will a CBN appointed board perform better than a board that reflects the majority shareholding group, that is Yoruba?. The shareholders' fund of Skye bank is Yoruba capital. A bank built from scratch with shareholders fund. That is how things are run recklessly in Nigeria to favour government cronies, mostly from the North. To rub the ego of people like Buhari who do not merit anything they have. If it were Easterners in power, it would be thesame story in the unhealthy competing field that Nigeria is which is bringing the roof down on us all since 1960. It is why Nigeria is going backwards instead of forward. Nigeria was better off at independence than today. How many countries are like that? The Yoruba too definitely have their own fault but we have our homegrown and age long solution founded on the Ogboni just like the US is founded on freemasonry and a Yoruba led country with the Ogboni as protagonists would be run with common sense. The Ogboni do not rule just like the CIA do not rule. They have a guiding principle which is 'At all cost, be fair to others'.


So, let the country divide and let everybody control their banks. Let Hausas have their country and control their banking sector with their Central Bank at least. That will be better for them. In a Yoruba country, I will always support that the banking sector be nationalised and bank chiefs appointed like police commissioners with every citizen and resident having a relationship with the national bank.


Enough of the idiocy that the Nigerian experiment is. The country should be disbanded for the good of all.

You just do not sack the board of a 1.5 trillion naira public company because you are controlling the CBN. That is immoral. You can not sack the board of a cooperative society and they are not different from commercial banks. There are many of them across the country.


So, enough of the foolishness and nepotism of this Buhari government. The intent is to rundown the country. I do not see him as working for Hausa people. No indication of that as he has never done anything for Northern Muslims. He is a liar, cheat and a thief, the most corrupt man on Earth but he is seen as clean by millions in Nigeria when he does not qualify to lead anyone or anything because he is morally filthy or bankrupt. What is the Hausa masses gaining? They are beggars all over the country doing petty jobs, many of them have no skills. The only thing they have learnt is the Quran. Only a small percentage are artisans. Others have no particular skill other than subsistence farming. Buhari wants it to remain like that. So, get a grip on yourselves as Hausa people, save your future and support the division of the country immediately. In your new country, you take total control of your banking sector, education, health and etc. The Hausa masses that have been literate befor most of the masses of the world should not remain at the bottom of the ladder in Nigeria.


Reference

http://af.reuters.com/article/idAFFWN19Q0FL

Interesting Write up.

But first,Buhari is not a Banker.

The APEX Bank C.B.N as the Regulatory Bank in Nigeria, is obligated by Law if any Bank is observed not following the Banking Ethics of the land. There is nothing tribal about this.

Non performing loans. That is what happens when banks leave their major work to fund elections and used by government for siphoning money

Crying fool again.
Shebi na Una dey mastubate wen other peoples businesses were taken over by Amcon. The management of Skype bank lack common sense to manage there bank. Since pmb has now stopped money laundering and introduced TSA, The so called sophistication people are now crying fool. For ur information 1.5 trillion is not yerobas money, its Nigerians money bcz its a qouted company. BmB money is his personal money, capital oil's money is his money.

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rottennaija:
Non performing loans. That is what happens when banks leave their major work to fund elections and used by government for siphoning money

Advancing loans without collateral is a criminal offence and bank directors would be jailed for such but the non performing loans in Skye bank are loans to oil and gas companies. They were collaterised but are now non performing because of the upheaval in the oil and gas sector. Not that the loans have even gone bad. The debtors are just not able to service them as expected. So, how is it their fault? There is no reason to sack the board of the bank and replace them with government cronies. No reason at all.