Topic: THE MAD HOUSE CALLED INTERCONTINENTAL BANK

I WILL LIKE TO EDUCATE THOSE WHO HAVE BEEN CALLING SANUSI A MAYHEM, FOR THOSE WHO SAY SO DO NOT THE ETHICS OF BANKING. AM ALMOST THRU WITH MY POST GRAD COS IN BANKINH AND FINANCE AND AM ALSO A BANKER.
1)1STLY AM NOT HAPPY THAT INTER AND OCEANIC SACKED FELLOW COLLEAGUE OF OURS
2)THE SITUATION IN WHICH BANKS FIND THEMSELVES ARE COS BY THEMSELVES, REMEMBER SANUSI WAS ALSO AN MD AND NEVER HAD PROB WIT THOSE AFFECTED BANKS MD, SO NO ISSUE OF VEXATION,
3)THIS BANK WENT AGAINST BANKING RULE
A)THEY LOST OVER 350BILLION EACH COMPARED TO OTHER BANKS 25BILLION -45BILLION (WAT A BIG GAP)\
B)THIS BANK GAVE LOAN TO COMPANY WHICH THEIR DIRECTOR HAD VESTED INTEREST(NOTE THEIR IS NOTHING WRONG WIT THAT ONLY IF,I SAY ONLY IF THE DIRECTOR DECLARE THEIR INTEREST IN THIS COMPANY TO CBN AUTHORITY) BUT THEY DID NOT AND THEY NEVER REPAID THIS LOAN
C)THAT BANKS GIVING LOAN SHOULD NOT GIV MORE THAN 15% OBILIGOR LIMIT(MORE THAN 15% OF SHAREHOLDERS FUND) SO IS 350 BILLION MORE THAN SHAREHOLDERS FUND.BUT THIS BANK GAV MORE 2 TIMES ITS SHAREHOLDER FUND
D)THAT ANY LOAN GIVIN MUST HAVE COLLATARAL BUT THEY GAV LOAN WIT OUT A SINGLE A ONE(HOW CAN A BANK GIV A LOAN TO A COMPANY WITH LESS THAN 2 MILLION NAIRA WORTH IN SHARE CAPITAL, A LOAN OF 2BILLION. NOT JUST ONE COMPANY) ABA
NOW WHO IS THE CAUSE OF ALL THIS SACK
IF THE BANKS WHERE HEALTHY THEY WOULD VE ABSORBED THE SHOCK OF ECONOMY CRUNCH
THEY CAN NOT COPE WIT HIGH OPERATIONAL COST IT JUST SIMPLES ECONOMICS PRINCIPLE COS BY THEIR PREVIOUS MD
SO LETS KNOW WHO TO BLAME

THANK YOU

mr. cooltosky, mr. post graduate and banker!!!, you have just outlined "NONSENSE"
REMEMBER SANUSI WAS ALSO AN MD AND NEVER HAD PROB WIT THOSE AFFECTED BANKS MD, SO NO ISSUE OF VEXATION, who told you he neva had prob. with them, if you were/are truely in the sector you should have known beta.
3)THIS BANK WENT AGAINST BANKING RULE
A)THEY LOST OVER 350BILLION EACH COMPARED TO OTHER BANKS 25BILLION -45BILLION (WAT A BIG GAP)\
B)THIS BANK GAVE LOAN TO COMPANY WHICH THEIR DIRECTOR HAD VESTED INTEREST(NOTE THEIR IS NOTHING WRONG WIT THAT ONLY IF,I SAY ONLY IF THE DIRECTOR DECLARE THEIR INTEREST IN THIS COMPANY TO CBN AUTHORITY) BUT THEY DID NOT AND THEY NEVER REPAID THIS LOAN
C)THAT BANKS GIVING LOAN SHOULD NOT GIV MORE THAN 15% OBILIGOR LIMIT(MORE THAN 15% OF SHAREHOLDERS FUND) SO IS 350 BILLION MORE THAN SHAREHOLDERS FUND.BUT THIS BANK GAV MORE 2 TIMES ITS SHAREHOLDER FUND
D)THAT ANY LOAN GIVIN MUST HAVE COLLATARAL BUT THEY GAV LOAN WIT OUT A SINGLE A ONE(HOW CAN A BANK GIV A LOAN TO A COMPANY WITH LESS THAN 2 MILLION NAIRA WORTH IN SHARE CAPITAL, A LOAN OF 2BILLION. NOT JUST ONE COMPANY)
which bank can boast of not being guilty of these allegations, none!!!, not even the elephant bank can.
one of the past presidents of these great country once said "it is only those caught(exposed) in the art of stealling that are thieves. take it or leave it "SANUSI HAS DONE MORE HARM THAN GOOD!"

@ too Favoured, tho this is your first post here, your response is most intelligent. Sanusi was the Judge and He could not judge First Bank without bias. All the Banks are guilty. The last terrorist strike in d U.S was by who son of outgoing First Bank chairman. Lets see what Sanusi would say. Nothing. Sanusi could not judge himself(First Bank) because of conflict of interest SIMPLE.

This is what we all should note: Bias, greediness, quest for material wealth and lack of Godly fear all contributes to the problem at hand.Nobody is free from guilt.Everyone would like to prove him/herself not guilty.Call SANUSI he will tell you that he is transparent.Call the top men/women in the banks they will also tell you that they've been blackmailed.Who will we listen to?It is time we conduct ourselves honestly in all things so that GOD'S mercies will be upon us.Are they even honest with their recruitment nowadays talkless of their transactions?How I wish they can 'buzz in' to this site and read what people are saying about them. Will they really be touched, when they've actually accumulated wealth for themselves and their families, 'probably at the detriment' of others? I'm not judging them but this is the simple truth.Don't vouch for anybody in issues like this.Money is the root of all sort of injurious things.Thank you all.

Guys, just put your trust in God, cos He is taking you a higher level.

i already new this will happen. all we need is an expert of each field to manage it. when sanusi was to be appointed, all banks CEOs knew what he is capable of doing, RISK EXPERT, yes dat is his area, he is well known for that. the wise ones rally around n put this write, i knew of UBA then, under one week they ask all their debtors to pay up, most CEO where bribing n begged soludo to push further.

consider the way these banks expanded, nonsenes, every corner is oceanic, intercontinental, UBA, n all the likes, soludo allowed this mess n he should be blamed.

remember, healthy bank, healthy economy

its all a matter of time, things will soon stabilize and there will be mass employment again. last few years was economic boom, now recession that is always the principle. economist will know this. the graph cant keep rising, it will get to the peak n go down then rise again.

to those affected, it is well.

Experts or no experts, our problems will still be there.This is not the first global economic recession in human history but this recent one has a demoralizing effects than the previous ones.Man has been producing experts in various fields, infact there are reasearches going on more than ever before but still more problems arise. Soludo is the cause: but who can tell me what would have happened if Sanusi was in Soludo's shoes?Before you answer remember that we cannot foretell the future, we are not perfect nor are we all-wise than GOD.......

The world's Economy would continue faltering. This is not the First and Last time.
The Great Depression of 1929, the fall of the global stock exchange in 1989 and the Present CRISES are all signs of a failing system of things and the LAST DAYS. Nigerians be prepared for the economy is not likely to Start recovering in the first 3 quarters of 2010. What we have now is a sick nation and sick rulers with no political will to improve the situation. Even with will power they have no right to rule themselves successfully independent of God.

@smasher1, Thanks for that historical reasearch/reference.We all can now see that this is not the first economic recession nor is it going to be the last unless God's Kingdom comes.In few days, comes 2010 and some will be saying 'happy new year'.Yes we should be happy everyday we live but note that there is nothing more fascinating about next year unless GOD intervenes.....Are you really praying for GOD'S KINGDOM?If you do that means you have love for your fellowman bcos there are people suffering more than you do....

Well, its quite unfortunate that things are happening in this way in the Banking Sector today.
I am just trying to imagine what will become of those SACKED staff by now especially those arrogants one who think that the bank is their father's place and go about the society claiming the bigger "BABES" in the society.
When most of the banks staff are only ND's holder but dressed to oppressed as if they have acquired a Doctorate Degree in Banking ur Fiance.
I pitty 4 dem sha atleast make dem 2 kw hw e dey b make persin no get work. Na God go help dem.


Me ma dey find work. ProF-JAY

This is why we should avoid being arrogant.Some people think that when they are previledged to some things in life that they have God's blessings more than others.We should note that there is nothing we have that we did not receive.Our condition can change at any time.That is why we should treat everybody equal.We should only boast in GOD not in things of this world.Some people has developed this mentality 'Let's eat now for tomorrow we shall die'.Even when you bring them the goodnews at their doors they tend to take you as someone hopeless and helpless.They don't want GOD to come and intervene since to them they are enjoying.But is that true enjoyment since after that eventually we die and turn to dust?What is our relationship with the less previledged ones?.....