Sunday, August 23, 2009


This is not really my area,but I still remember earlier in the year when Mr Sanusi Lamido was being touted as a possible candidate for the CBN governorship, a friend made an off the cuff comment about his physical similarities with both Nuhu Ribadu and El Rufai - two men that took bold and radical steps while in public office. We laughed about it,not knowing it wouldn't be too long before we know better.

Just when we thought Nigerian Banks have finally arrived on the global stage,this absolutely surprising event: Remember the Euromoney,African Banker,S&P,Fitch etc etc glowing awards and ratings not too long ago ?

I always felt Mr Soludo did well in getting the banks to up their capital base.What we didn't reckon with was what they'll do with the money (and isn't that strange,given the so many economic activities,particularly small-scale entrepreneurship that needs urgent funding ?).

Given that this was supposed to be a pre-emptive action, I cannot fault the sharia-sharpened
Banker.But what with the so many adverts and counter-claims by some of the supposed debtors vehemently disputing the CBN's claims ? I admire EFCC's quick intervention too, but may I also caution that the rule of law,which was the basis of CBN's action in the first place, be strictly adherred to. From personal experience I know that banks could be funny with figures sometimes !

And by the time the dust settles,I will advise that we go back to the good old banking values,which essentially borderred on conservatism and moderation if our money is to remain safe.I mean we all saw this coming: unrealistic marketing targets,hollywood lifestyle,cut-throat competition.See where it's led us.

Well then Sanusi,floreat !


  1. Are there any links where one can get more info on this stuff??

  2. Roc,I can only suggest the newspaper websites such as businessdayonline etc.


you 'gree ?