Just a composite poser for....
Our Banks, and bankers
Our President, and politicians
Our Parliament, and legislators
Our Ministers, and diplomats
Our Media, and pressmen
Our Universities, and academia
Our Private Sector, and businessmen:
How many of you can and do shop on the Internet with Credit Cards issued in Nigeria? How many of you shop on Amazon.com? How many of you have a PayPal Account?
If you don't have a resounding "POSITIVE" to the above so do 160m Nigerians. How come nobody is doing something about this denigration and offensive stigmatization?
And you "patriots" hobnob with your counterparts around the world?
Well, Ngozi Okonjo-Iweala I'm looking at you. Olusegun Aganga I'm eyeing you. Sanusi Lamido Sanusi you dey for my radar!
Showing posts with label CBN. Show all posts
Showing posts with label CBN. Show all posts
Friday, November 11, 2011
Friday, January 21, 2011
BANKS and RUMOURS
Our people thrive on tales, tabloids, hearsay and rumours! Fabricated and lubricated the rumour mills spin luxuriant in the absence of full information or secrecy. For governance and public policy, it is double jeopardy if not tipple tragedy. Get the truth out and kill the rumour merchants, especially them mischief makers.
Yes, our banks are riding the rough patch right now as the rosy past - contrived and condoned - is, shall we say, past. They are trying hard to whether the self-induced storm plus stemming the tempests of the global economic crises/credit crunch. Investors’ confidence is low, customers’ enthusiasm is dampened, crime-busters are hovering, workers are being laid-off, corporate image is tumbling and the erstwhile swagger of bankers turning stagger! Tough.
Then, the regulators: CBN, NDIC and SEC are breathing down - no more voodoo banking and paper profits, no more life-chairmen or CEOs, no more bad credit and insider trading, no more capital market shenanigans! And the professions: CIBN,CIIN and NSE are cleaning up banking, insurance and stock broking practice as self-regulatory/certification bodies.
Oh, the media: what can we say? They are rightly beaming the biting and piercing searchlight on banks and banking. Constantly seeking scoops, and exultant from its recent salacious coverage of the monumental rot in the industry, they will follow any lead and sensationalize any break!
Being together in the Bankers Committee, the CIBN and the industry one would expect the banks to bond and brace for the turbulence at hand and the triumphs ahead. Instead, we are seeing untoward practices, impunity and criminal competitor-demarketing! It didn’t just start, it’s been a part of their weird survival tactics - pulling others down (PHD syndrome). Why?
The latest is some dirty rumours about three banks they claim are to be liquidated by the authorities! They advise depositors to withdraw their money before it is too late!! Why?
The CBN has rightly intervened by issuing a prompt rebuttal. But it must do more: fish out the culprits and prosecute them!
Yes, our banks are riding the rough patch right now as the rosy past - contrived and condoned - is, shall we say, past. They are trying hard to whether the self-induced storm plus stemming the tempests of the global economic crises/credit crunch. Investors’ confidence is low, customers’ enthusiasm is dampened, crime-busters are hovering, workers are being laid-off, corporate image is tumbling and the erstwhile swagger of bankers turning stagger! Tough.
Then, the regulators: CBN, NDIC and SEC are breathing down - no more voodoo banking and paper profits, no more life-chairmen or CEOs, no more bad credit and insider trading, no more capital market shenanigans! And the professions: CIBN,CIIN and NSE are cleaning up banking, insurance and stock broking practice as self-regulatory/certification bodies.
Oh, the media: what can we say? They are rightly beaming the biting and piercing searchlight on banks and banking. Constantly seeking scoops, and exultant from its recent salacious coverage of the monumental rot in the industry, they will follow any lead and sensationalize any break!
Being together in the Bankers Committee, the CIBN and the industry one would expect the banks to bond and brace for the turbulence at hand and the triumphs ahead. Instead, we are seeing untoward practices, impunity and criminal competitor-demarketing! It didn’t just start, it’s been a part of their weird survival tactics - pulling others down (PHD syndrome). Why?
The latest is some dirty rumours about three banks they claim are to be liquidated by the authorities! They advise depositors to withdraw their money before it is too late!! Why?
The CBN has rightly intervened by issuing a prompt rebuttal. But it must do more: fish out the culprits and prosecute them!
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