Haba! CBN: =N=400 Billion To Recover =N=50 Billion?

Published 10 years ago by: QuickMind
[1] 2
at 31-08-2009 03:15PM (10 years ago)

(27 | Newbie) (m)

The story of the CBN bail out to five banks, which are alleged to have undertaken shady operations in their banking practices, appears so far to be one-sided. The haste with which the =N=400 billion bail out was made, the chief executives summarily removed and appointees of CBN were imposed on the banks, calls for some questions. Without reservation, I would say that the questions raised presently at the National Assembly, thereof, is in the right direction. Let us hope that the underlying reason would prove to be noble at the end of the delibrations.

Informed minds are yet deeply troubled. What sense is there to stake =N=400 billion for =N=50 billion returns? Who is fooling who?

Let us not miss the point. The premise for the take over is that the banks defaulted in procedures. Nobody has said that the banks lost any money outside the amounts held in unsecured loans. So far the recovered amount is under =N=30 billion. Even if the recovered amount were =N=50 billion, why the haste to aid recovery, injecting more money that would have been lost? Curious question!

It would appear the complete truth has not been told. It will be told eventually. To receive them for free as they come, please email to: [email protected]. As matters develop we will monitor and make useful contributions. The answers that emerge will be a shocker. This is our counrtry, all of us; none is exempted.



waco at 31-08-2009 03:27PM (10 years ago)
(9995 | Hero) (m)

Guy you got all wrong. i hope you've been following the story properly.

The banks in question gave out close to =N=1t [one trilion naira] non performinbg loans.

In other to save the banks from total collaps, CBN decided to inject =N=400B to the banks to get them going. that is far below one trillion my dear pal.

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WonderAmazon at 31-08-2009 03:51PM (10 years ago)
(46 | Newbie) (f)

Quote from: waco on 31-08-2009 03:27PM
Guy you got all wrong. i hope you've been following the story properly.

The banks in question gave out close to =N=1t [one trilion naira] non performinbg loans.

In other to save the banks from total collaps, CBN decided to inject =N=400B to the banks to get them going. that is far below one trillion my dear pal.

not quite. the one trillion was for all the loans, including margin loans to stockbrokers which the government is looking into.

the people mentioned to have made refunds, how much of the one trillion do they have? the Otedolas, Dantatas, Jimohs and so forth. paltry sums pulling the wools over many eyes. not mine and not quickmind's, thank God.

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divineproject at 31-08-2009 04:32PM (10 years ago)
(12699 | Hero) (f)

hmmm.......

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KleverC at 31-08-2009 10:25PM (10 years ago)
(4101 | Gistmaniac) (m)

why reposting?

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chuksben01 at 1-09-2009 08:34AM (10 years ago)
(459 | Upcoming) (m)

Q&A
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divineproject at 1-09-2009 10:07AM (10 years ago)
(12699 | Hero) (f)

lack of something to say

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chuksben01 at 1-09-2009 11:32AM (10 years ago)
(459 | Upcoming) (m)

MEANING
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teeco at 1-09-2009 04:12PM (10 years ago)
(27537 | Addicted Hero) (m)

Comment reserved

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waco at 1-09-2009 04:14PM (10 years ago)
(9995 | Hero) (m)

divine in a new pic with............ i dey vex

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teeco at 1-09-2009 04:17PM (10 years ago)
(27537 | Addicted Hero) (m)

waiting

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KINGJHOE at 26-05-2011 09:21AM (8 years ago)
(3070 | Gistmaniac) (m)

 Lips Sealed
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darekobed2 at 9-03-2012 11:52PM (7 years ago)
(20 | Newbie) (m)

It is obvious that Nigeria want to show they are in existence. It happened in America and it must happen in Nigeria. Yes, the information was that the colapsing banks gave out an unperfoming loan of about N1 trillion. To save them from colapsing, CBN injected N400 billions. The funny side of the story is that they have recovered only N50 billions. The one billion dollar question is; IS THE CBN BILLOUT NECESSARY?, IF YES, TO WHAT EXTEND?. Sanusi is a man of theory than practical. If i must say catigorically,the move is a failure becuase by now he should have recovered all the loans question.
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chicco77 at 22-08-2012 03:23PM (7 years ago)
(22128 | Addicted Hero) (f)

.....
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chicco77 at 24-08-2012 12:40PM (7 years ago)
(22128 | Addicted Hero) (f)

 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes
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dlimelite at 24-08-2012 12:44PM (7 years ago)
(13810 | Hero) (f)

HMMMMMMM
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dlimelite at 24-08-2012 12:45PM (7 years ago)
(13810 | Hero) (f)

 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes
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ezchusa at 28-01-2013 03:48PM (7 years ago)
(3651 | Gistmaniac) (m)

 Lips Sealed Lips Sealed Lips Sealed

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Solidstonez at 24-09-2013 09:08PM (6 years ago)
(37017 | Addicted Hero) (f)

 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes

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Solidstonez at 24-09-2013 09:08PM (6 years ago)
(37017 | Addicted Hero) (f)

 Huh? Huh? Huh? Huh? Huh?

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