Somebody please explain what is going on with the banks to me,am a novist

Erastus Akingbola, Cecilia Ibru and the rest three, all Managing Directors(or whatever name its called) of prominent Nigerian banks, forced out of office by the CBN.

The issue now is that I am not that literate as per  banking stuff cos am a Surveyor, and in trying to find the real reason behind all these I am coming across things like marginal loans, non-performing loans and stuffs like that.
Would somebody please  be kind enough to explain from a knowledgeable angle but in lay man language,what the exact issue is with these banks?
The first hint I got of the news was that these banks were folding up, and then the CBN comes on air to re assure  Nigerians and to say it was putting in N100bn each into Intercontinental and Oceanic.

Posted: at 18-08-2009 10:31 PM (15 years ago) | Newbie

i no know for them really

Posted: at 19-08-2009 02:16 AM (15 years ago) | Gistmaniac

Make i go pack my money commot from there bank abeggggggggg

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Posted: at 19-08-2009 09:16 AM (15 years ago) | Addicted Hero

ok good for you

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Posted: at 22-08-2009 08:51 AM (15 years ago) | Addicted Hero

e dey my house

Posted: at 23-08-2009 02:07 AM (15 years ago) | Gistmaniac

are U sure/ dem say na loans wey no sabi perform(wateva dat means)

Posted: at 23-08-2009 05:53 AM (15 years ago) | Newbie

hhhahahahahaha.....Not just naija!

No country in the world ever understands banking language, its understood only by core bankers!
Even here, each time they wanna cheat you or increase your mortgage, they start telling you something and using  words like percentage spread, tantum and a hell lots or latins!!!

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Posted: at 23-08-2009 10:48 PM (15 years ago) | Upcoming

I DEY PLAN TO WITHDRAW MY MONEY FOR THIS BANK SELF I DEY FEAR

Posted: at 24-08-2009 09:03 AM (15 years ago) | Upcoming

So we are doomed to the torment of  bankers and their antics,right?

Posted: at 24-08-2009 02:58 PM (15 years ago) | Newbie

if u n nobody undastsnd wetin happen, uproot ur money 4rm those banks n plant dem in d unmarked ones.

Posted: at 24-08-2009 03:14 PM (15 years ago) | Upcoming