This is a large meal for the media to eat all through October am waiting to take my share.

McKren:

[b]What people are failing to realise is that the corruption in the Banking Sector is more fundamental than who the bank bosses or employees are.

It has more to do with how our system works, who we are, and our values.

We are trying to create an economy that is integrated with the rest of the world in the 21st century and somehow we are hoping to do that without having adequate frameworks and these are where Sanusi should be focusing on and not victimising businessmen who did business the way business was done in Nigeria at the time, albeit unethical.

We live in a country where people can walk up to the coperate affairs commission and set up a company with fictitous names and then use that company name to obtain loans from banks without adequate credit checks just because they are prominent in the society.

May be what we should be concentrating on is to create a strong National identity system, setting up credit reference agencies, and other regulatory agencies like the FSA in the United Kingdom. With these organisations like CAC can not register un-existent business leaders, and banks will not be lending money to un-existent people.[/b]

Sanusi can also work with lawmakers to set up the necessary laws to make sure their is hope to correct these in the future.

Instead of doing the small things that matter that will lead to better business practices, what we have seen is a CBN Governor more intrested in talking down the economy, criminalizing lending and borrowing, victimising bank MDs and rounding them up without due process.
All of these hot headed approaches are not solution to anything, they can't solve anything for anybody.

Someone should tell Sanusi to grow and stop trying to make history for the sake of it. At the rate he is going he will make history for the wrong reasons.

i agree perfectly with the highlighted part of your post.
Sanusi cannot solve the problem and i think he knows that.
for starters, which house of Assembly members are you expecting to aid him in designing a framework?
the same ones that cannot have a progressive discussion without money changing hands?(even then, they are unable to have decent intelligent discussions.all they do is shout Aye!!)
or the ones that are owing banks unserviced loans themselves?
or the ones that get assistants and secretaries in the NASS to sign their attendance registers while they junket around the globe?
i doubt he is deluded enough to think that his actions can solve the problem.all he can achieve is to drive the fear of God into the top echelon of the banking industry.hoping that things can be done in a semblance of transparency, order and within the confines of trust and integrity (the foundations of banking confidence).
How a sane person can say someone like Erastus Akingbola and Cecelia are being victimized is beyond me.
all these cowboy banking is ruining the economy more than anything Sanusi has done.

Jarus:

If asked to guess who the four going CEOs will be, I will pick Francis Atuche and Jim Ovia. I'm almost sure Francis Atuche of BankPHB will not escape Sanusi's axe. Here is a man that did wuruwuru to make N1billion in one day. Imagine this: He obtained a N1billion uncollateralized loan from his bank, bought a proprty worth N1billion with that loan, sold same to his bank for N2billion, paid back his N1billion loan the next day and pocketed N1billion. This is he wuruwuru that is going on among these CEOs. Cecilia did similar things, collecting loans from Oceanic, erecting structures and leasing same to Oceanic as branches with the bank paying billions to her as rent.

These are the gross abuse of corporate governance going on among these bank chiefs.

These are confirmed stories from insiders.

na today!!!
the same scenario played out itself in the demise of All States Trust bank.
this thing don they happen for a while.
Now there arose a new king over Egypt, who knew not Joseph Exodus 1:8

I hope you all know that this is all guess work on the "maybes" of "a source" who could be anybody. There was no mention of even if the source was a CBN staff of a peanut seller. Article says at least 5 CEOs and our Nairaland topic says 4.

Anyway, that last week that seemed so far away is now here today. So let's see who the CEOs are.

yes o!!

Are you telling me this BIALEGEND chap is still allowed to make comments in nairaland? Administrator, i am getting worried.

agabaI23:

The same Habib that Northern governors contributed money to bail out during failed bank era or another one? Who said it was stable?

Speculation!!! and at least, it didnt fail and how many of it's generation made it through.

and he is busy telling investors not to sell their bank stocks,everybody in this country has a chapter to write in the history,so SLS keep writing your others have written theirs.

oh my God,when will all dis be over

Why won't they not go when its Sanusi's regime of "operation sack bank CEOs"

I completely agree with u SKYRANGER, All those CEO has to be punished for deceiving us but the main motive of Sanusi action is not to save the public from loosing thier money and investment. You will agree with me if all these bank CEO are from North or Hausa men, nothing will happen sanusi will not remove them or embarrass them like that. If u look at it very well, how many hausa present or pass governor or person or men have u seen in EFCC net? does that mean that hausa governors or people are saints or they are not mis manage government fund? think about it. Why didn't he wait for audit of all other banks to be completed before announcing them together, does it mean first bank as old it is, does not have non performing loan?. The new set of people coming in now into the affair of all those banks, what assurance do we have that they will not do similar thing while all the regulatory body including CBN goes to sleep again?. Time will tell. I know that we are not a fool in Nigeria.

ha, again?

ha, again?

when are the names coming out

, and EFCC too can lay claims to fighting corruption? So many skeketons in this drama!

baslone:

Speculation!!! and at least, it didnt fail and how many of it's generation made it through.

Specu-what? That you do not know about it does not make it speculation my dear.

And about how many, this was happeneing in 2002 for your information. So check who made it through and who did not.

agabaI23:

Specu-what? That you do not know about it does not make it speculation my dear.

What you don't know you don't know, and since I don't I'll keep it like that.

@bibiking1

It's supposed to happen this week which was next week last week. Well, let's see it happen then. It will be very disappointing if Business Day has decided to become one of these soft sell papers that spin all sorts of stories from "sources".

Well, having read most of our comments;

I am glad that we have all seen that the CBN governors judgements are biased,at least most of us agree and thats very good to know.

We dont need to get religious about this;but my own hurt is the fact that 5 MDs were treated with so much contempt, & he now wants to give others soft landing, why??!

I am of the opinion that what is good for the goose is good for the gander,Sanusi Lamido has now remembered board!why didnt he remember board before now?! After all the haste to 'harm' 5 MDs on the 14/08/2009?

I thought most of the nation have been backing him? Since he did the right thing the first time why is he not continuing in that 'right manner' this time??!

I have said from day one that Sanusi Lamidos' approach to the whole issue from the beginning did not follow BOFID regulations, neither did it follow the rule of law, but each day you read the papers,more & more people say they are 'backing him'; they should keep 'backing him';even the issue of printing 420billion just like that and pumping into privately owned banks without recourse to the shareholders who are the real owners was also swept under the carpet.

God will help this nation;with the kind of 'passion' Sanusi has to cleanse the banking sector, I hope we would still have an economy when he is through.

From the onset when peopel like us didnt buy Sanusis' manner of 'cleansing' the banking sector, many people were busy 'backing him' daily in the media, even when it is glaring that there are major violations of BOFID, CAMA & the rule of law in his cleasing exercise.

Now he wants to give 4 CEOs 'softlanding' after digracing & comepletely battering the image of 5 others;if u ask me that is not fair play & I for one will ask that he should do exactly what was done to the first 5 to others, he was acting as though he was drunk, now he recognises that banks have board of directors; what a laugh.

God will help this nation; I pray that when Sanusi is through with this 'cleansing' we would still have an economy because he never considered the economy before embarking on whatever it is he is doing; because I dont know what to call it, when we know that worse banks than the first five like Unity are still standing, what manner of exercise is it

The end of Sanusi Lamidos' cleansing drama is not in sight.

I wonder what soft landing has got to do with all this;its not in our CBN governors style, he should keep up the 'sack',its better for our 'rebranding image' as a nation and its also 'better' for the economy.

After all, thousands of Nigerians have been applauding his actions even when it is glaring that there were breaches of BOFID, CAMA & the rule of law in the sacking of the first five MDs that have tasted his 'cleansing' exercise.

baslone:

What you don't know you don't know, and since I don't I'll keep it like that.

Check out the meaning of speculation. It is far from ignorance!

I hope the poor masses will not loose thier hard earned money if any of these banks eventually collapses

Same song and dance

na wa o

agabaI23:

Check out the meaning of speculation. It is far from ignorance!

Whateva!!

@nex
we might not really need to blame BusinessDay, probably the Sanusi has reneged on his initial plan, which shows some inconsistency if you ask me!

When is the list coming out??.

Good for them then.

Maybe the list will come out whenever Sanusi and Waziri
returns from House Of Assembly briefing.

Nothing dey happen

*Pshew* is dat d way forward ?