Comments on: Why the Bank CEOs Were Fired – Lamido Sanusi

By: Chike .C

Chike .C — Wed, 28 Oct 2009 17:24:37 +0000

I suggest that Mr Sanusi should also look at some loans and savings banks in Nigeria because it is looks like some are already bankrupt and are refusing to give money to account holders.

By: Sue.B

Sue.B — Sun, 23 Aug 2009 21:36:47 +0000

Sanusi has taken the bulls by the horns and acted quickly and decisively. It’s quite apparent that he understands that if he had hesitated the now erstwhile CEO’s/MD’s would have utilised the ‘Nigerian factor’ to get whatever decisions he had reached overturned. I know for one that at least one of the MD’s was already running around but felt he still had a bit of time to get his ‘forces’ into action.

Sanusi is to be commended through and through for his actions, and for those who’ve tried to bring the tribal perspective into this, they should step back and look at the financial bloodying that has been averted.

By: Isa Y Chedi

Isa Y Chedi — Tue, 18 Aug 2009 12:37:28 +0000

The banking sector should as a matter of principle be the engine room for economic growth. Soludo had succeeded in strengthening Nigerian banks through his popular capitalisation exercise. However, the small dose-prescription for the sick banks given to them by the then CBN governor was rather ineffective. This was the reason why the five affected banks were permanently on the sickbed called Expanded Discount Window.

What the present CBN governor did was simply to test the banks in terms of thier liquidity strength and eventually discovered that they were really terminally ill. Hence the rush in the Friday-intervention. The effort has certainly saved thousands of Nigerians from the gory of fail bank syndrom. Thank you Sanusi. Nigeria needs people with your courage

By: SS

SS — Tue, 18 Aug 2009 04:38:24 +0000

I am suprised Diamond Bank was not on this list, as they very much should be in my opinion. They have very little liquidity (no USD at all) and have not preformed to the level of their commitments. (Especially, when it comes to honoring Irrivocable Letter’s of Credit for their customers).

By: Bello

Bello — Mon, 17 Aug 2009 16:45:59 +0000

This is a bold step taken by the CBN governor as well as a lesson for other CEOs/MDs plus the up coming ones. Imagine what collateral was given for a loan of N36billion and other billion Naira loans approved by the sacked CEOs/MDs. Such money could be use to boost vast number of Small and Medium Scale Enterprises.

By: Henry

Henry — Mon, 17 Aug 2009 11:45:42 +0000

The action of the CBN governor is commendable but the execution appears suspect. The MD’s should not have been relieved of their positions in this manner.

By: onyema

onyema — Mon, 17 Aug 2009 11:20:55 +0000

If the audit of the 24 banks in Nigeria is yet to be concluded, why is CBN governor in a hurry to announce the result of the first batch? Definitely, the system has been heated up. Depositors,especialy the average man/woman on the street, need to be given double assurance by the CBN/Presidency that their action does not translate to mean that these 5 banks are distressed.

By: olusola s.o.

olusola s.o. — Sun, 16 Aug 2009 12:49:01 +0000

the injection of extended window by former director of cbn soludo has been taking care of this crisis silently unanounced to the world. now that the public outcry is made, the public is jitry and the confidence is once again gradually facing erosion. the affected banks need to go to the market to return the 400b naira temporary injection, this is to commence early enough. u know 2008 December unified end of year account alone on its own is a challenge to the 24 commercial banks- it is a survival of the fittest.