By tomorrow morning, it will be in all newspapers that the Central Bank of Nigeria (CBN) has sacked the entire management of five Nigerian banks. The CEOs that have been sacked are
CBN governor, Sanusi Lamido Sanusi, at the Emergency Bankers’ Committee meeting organized by the CBN in Lagos, said the decision was taken to safeguard the financial sector from systemic collapse.
As Sahara Reporters reported, the announcement of the sack of the super CEOs is coming on the heel of revelations that the former Central Bank of Nigeria governor, Charles Soludo, provided soft loans to the affected banks. The CBN under Soludo gave Oceanic bank (N80 billion), Intercontinental bank (N72 billion), Skye bank (N60 billion) and FinBank (N40 billion).
Police has sice taken over the banks’ headquarters premises and new acting CEOs have been appointed.
Apart from the fact that I love business to the bone, the closest I got to being a financial analyst was my foray at trying to be a GoldmanSachs intern. As such, I cannot say this is what this means for the Nigerian financial sector and all of us.
These are some of Nigeria’s finest CEOs. My money is in these places. What will happen to my money? and yours?
5 Comments
Guy, wetin happen. does cbn governor have such power?
na waa o
Ope! If dis is true, den Nigeria must b in serious trouble. I’m surprised Jim Ovia is not included
These ceos might not be making as much money, as such they are heavily indebted. They might have also given a lot of questionable loans. I think Jim Ovia is making money whether by .. or by …his name might not come up.
Jim Ovia is a Political Banker………
With Francis Atuche
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