George_D:

e be like say you be im broda the way you dey defend this sanusi man. i hope he will share his largese with you after his through with sacking all the banks' ceos under false pretext?

I no dey defend am

No one(auditors, economist, insiders etc not anonymous sources in the papers) has come to defend these banks, no one till date has gone to the papers with proof that these banks are in good condition with regards to their loans and balance

Yes banks have been hit by recession but banks in nigeria were not following the book in the first place, tehy were frying it

Fhemmmy:

They could have done this differently, agreed.
Sanusi could have allowed some of the banks to go under, agreed.
But we are forgeting one things, we have a community where you cant do for one and not do for the other.
The banks were not asked who wanted the loan, the CBN just deems it fit to help the banks, however, Union bank in Nigeria is like Citi Bank, Union bank cant be allowed to go under, if it does, too many things will go with it and i am sure the security deposit it has with govt wont even be enuf to take care of the clients.
In all, they could have done things better, but there is no way Union Bank could have been allowed to go under.

You dont need to ask them, they were already borrowing huge percentage of the money made available to troubled banks on a regular basis,

If union banks goes under some other bank will buy it and safeguard the deposit

maybe now people will stop that retartded belief that all whites are rich

In other parts of the world you get Experts, Economist, Auditors former Bankers talking about policies objectively most of the time
In Nigeria they seem to go underground allowing untrained reporters to give people information from the owners point of view

Dis Guy:


If union banks goes under some other bank will buy it and safeguard the deposit

You talking like we talking about a nation that is civilized, we are talking about Nigeria where a lil thing will send shock waves into the system.

Fhemmmy:

You talking like we talking about a nation that is civilized, we are talking about Nigeria where a lil thing will send shock waves into the system.

well we still have civilised people in the system-_{mind you most of those MDs have their havard,oxbridge certificate    they just couldnt help themselves}
Have you noticed with all our madness we always pull through one way or the other
wuru-wuru to the answer-except for the world cup

Fhemmmy:

They could have done this differently, agreed.
Sanusi could have allowed some of the banks to go under, agreed.

For crying out loud, no bank was going under!!!!!!!1

PapaBrowne:

For crying out loud, no bank was going under!!!!!!!1

You mean with all the billion of Naira that has been sucked out of the banks, the banks are still very strong, and nothing could happen?

All these faceless attacks on Sanusi and this creation of the impression that his action is terrible, tribalistic etc etc seem to make me think that it is just a campaign to make the guy look like a devil and get him out. I don't also want to believe that these guys bashing the man are relations of the bank MDs and borrowers who were arrested. You can say that the man could have acted in a different way to achieve the same result like telling the MDs to resign quietly. Do you know that many of these bank MDs would have tampered with documents before leaving if they had the opportunity?

Suddenly 87billion naira had been recovered after the Sanusi action. Intercontinental Bank MD (Akingbola) begged the President to help them recover their debts because it was clear to him that without his intervention, the debts were lost. Suddendly from the blues debtors of that same bank have paid over 20billion naira in about three weeks. That's about the amount you need to get a banking licence. If Savannah Bank and Societe Generale Bank had that amount of money, they would have opened for business.

Whichever way someone goes in Nigeria, he must be attacked. If Sanusi had allowed the banks to collapse, and depositors had lost all their savings, he would have been crucified for being a "useless aboki" who could not manage something the "intelligent Soludo" worked on for 5 years.

I strongly believe that the bank MDs arrested need to be treated decently and assumed innocent until proved guilty, but the CBN Governor has the power to sack a bank MD if he thinks the MD has acted against the ethics of banking and has betrayed the trust of the depositors. Otunba Balogun of FCMB and and former Chairman (chairlady) of Citizens Bank were sacked some years ago and banned from holding positions in banking. It's not the first time this has happened in Nigeria.

If Yar'Adua could act decisively like Sanusi, we as Nigerians would be feeling proud wherever part of the world we are. So please let's stop all this bellyaching and face important issues.

@ JProspero

WORD and WELL SAID!!!!!!!!!!!!!!!!!!!!!!!!!!!

JProspero:

All these faceless attacks on Sanusi and this creation of the impression that his action is terrible, tribalistic etc etc seem to make me think that it is just a campaign to make the guy look like a devil and get him out. I don't also want to believe that these guys bashing the man are relations of the bank MDs and borrowers who were arrested. You can say that the man could have acted in a different way to achieve the same result like telling the MDs to resign quietly. Do you know that many of these bank MDs would have tampered with documents before leaving if they had the opportunity?

Suddenly 87billion naira had been recovered after the Sanusi action. Intercontinental Bank MD (Akingbola) begged the President to help them recover their debts because it was clear to him that without his intervention, the debts were lost. Suddendly from the blues debtors of that same bank have paid over 20billion naira in about three weeks. That's about the amount you need to get a banking licence. If Savannah Bank and Societe Generale Bank had that amount of money, they would have opened for business.

Whichever way someone goes in Nigeria, he must be attacked. If Sanusi had allowed the banks to collapse, and depositors had lost all their savings, he would have been crucified for being a "useless aboki" who could not manage something the "intelligent Soludo" worked on for 5 years.

I strongly believe that the bank MDs arrested need to be treated decently and assumed innocent until proved guilty, but the CBN Governor has the power to sack a bank MD if he thinks the MD has acted against the ethics of banking and has betrayed the trust of the depositors. Otunba Balogun of FCMB and and former Chairman (chairlady) of Citizens Bank were sacked some years ago and banned from holding positions in banking. It's not the first time this has happened in Nigeria.

If Yar'Adua could act decisively like Sanusi, we as Nigerians would be feeling proud wherever part of the world we are. So please let's stop all this bellyaching and face important issues.

You live in the misguided belief that removing bank MDs one way or the other is the solution.

Helllllllooooooooooo!!!!!!!!!

The number of Bank MDs you sack is not a macro-economic index.

Who cares/ we should be talking about our own failing country not America.

Sanusi has caused so much damage to the Nigerian economy already.
Just thinking that the guy might be here for another five years is nightmarish

 

The Risk Terrorists can't last 365 days as 'Cibilo'. Their works will work against them and their sins will find them out. They will soon quit and exile.
Back Fire now.

The Solution providers are worming up in all sectors

What is rilwanu doing in NNPC? Terrorising them?

I have observed with utter dismay the way Nigerians compare issues in Nigeria with US or Britain or other developed countries. It pains me. In the US or Britain, political office holders resign their appointments on mere allegation on default in handling official issues (even private matters). How many Nigerian citizens in position of authority have resigned even in the face of brazen misappropriation by him/her? In Asian countries, we have been reading about how ex-presidents of some of the countries are jailed/killed for corruption. How many Ex-presidents in Nigeria have been jailed despite monumental corruption discovered during and after their tenures?

In as much as academic intellectualism is accepted on this kind of forum, there is need for user of such knowledge to seriously give a thought to our perculiar situation before making comparisons. Leadership is more than mere classroom knowledge. I strongly feel Sanusi is right in his approach to tackling issues in the banking sector considering the rot there. Do you know how difficult it is to get a loan of N500,000 from a bank as an ordinary citizen, While another so-call eminent personality can access billions of Naira , even without due process? To make matters worse, the so-call important personalities are not servicing the debts and at the end of the day, the banks tighten the noose for the poor citizens to acquire loans. Are the so-call big wigs not supposed to respect themselves by following due process in giving out the loans and are the loans not supposed to be serviced as demanded by rule of law? Please, lets be realistic about our perculiar situation.

I know that no nation is an island unto itself but Nigeria is not US or Britain, and can never be. If Rule of law has failed woefully in Nigeria ( I don't need to explain this because it is obvious), is it gentleman agreement that will succeed? Please, at the level Nigeria is now, I support any level of high-handedness, if you call it so, that will bring sanity to the systems. Nigeria has to solve some problems in its own way.

So, let us see Nigeria as Nigeria and device our own way of solving our problems.

They are welcome to the club
Tell them!



Nigeria Is Blessed.

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