Intrigues as Bank PHB ex-officials demand unpaid ‘remuneration’ – The Guardian
February 3, 2010 by Bunmi Awolusi · Comments Off
A new twist may have come the way of the controversy trailing the remuneration of top officials of Bank PHB Plc, with former employees, albeit on a sarcastic note, demanding for the balance of their unpaid dues.
CBN weighs four options for troubled banks’ capital – The Guardian
February 2, 2010 by Bunmi Awolusi · Comments Off
The Central Bank of Nigeria (CBN) has set out four recapitalisation options for the nine troubled banks in the country.
The options will be looked at by the board and management of the affected banks in liaison with the apex bank’s appointed financial advisers to those banks.
Sanusi Ousts Ovia, Elumelu, Akinfemiwa – Thisday
January 20, 2010 by Bunmi Awolusi · Comments Off
The governor of Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, on Monday made good his threat to wrest banks from proprietors as the board of the banking regulator has pegged the maximum tenure of commercial banks’ managing directors/chief executives at 10 years.
Ex-bank chiefs fighting me, says Sanusi – The Nation
January 14, 2010 by Bunmi Awolusi · Comments Off
Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi yesterday accused some former bank chiefs of waging a media war against him over his banking reforms.
He said they are fighting him for sacking them over the alleged mismanagement of their banks.
Bank CEOs panic over CBN’s succession plan – Tribune
January 11, 2010 by Bunmi Awolusi · Comments Off
The move by the Central Bank of Nigeria (CBN) to enunciate policy that would force out sit-tight banks’ chief executives is currently causing panic and jitters in the various banks.
The CBN governor, Mallam Sanusi Lamido Sanusi, had vowed in a public forum in Lagos last week that the CEOs that did not have a succession plan in place would soon be shown the exit door, stressing that available evidence showed that staying too long as a bank chief promoted breach of corporate governance and also gave room to commit misdemeanour in the banks.
Banks’ mass sack: Labour minister, CBN governor meet – Daily Trust
January 7, 2010 by Bunmi Awolusi · Comments Off
Minister of Labour and Productivity Prince Adetokunbo Kayode will today meet with the Governor of Central Bank of Nigeria (CBN) Sunusi Lamido Sunusi and the chief executives of some commercial banks, Daily Trust learnt last night.
Lending rate stabilises at 23 per cent – The Guardian
January 6, 2010 by Bunmi Awolusi · Comments Off
Monetary Policy Rate (MPR) remains at six per cent, its prevailing level, the nation’s financial institutions’ chiefs said yesterday.
Thus, for now, interest rates in Nigeria remain the same at the prevailing rate. Also, the asymmetric corridor of interest rates remains at 200 basis points above the MPR and 200 basis points below the MPR.
Oceanic Bank sacks another 950 – Vanguard
January 6, 2010 by Bunmi Awolusi · Comments Off
Even as Federal Government is meeting with the Central Bank of Nigeria,CBN, banks’ executives and organised labour tomorrow over the wave of retrenchments and the threat by labour to disrupt operations of banks, Oceanic International Bank has sacked another batch of 950 workers.
CBN justifies mass sack in banks – The Nation
January 6, 2010 by Bunmi Awolusi · Comments Off
The Central Bank of Nigeria (CBN) yesterday justified the ongoing mass sack in banks, saying that most of the banks were spending too much to pay staff salaries.
CBN Governor Mallam Sanusi Lamido Sanusi, briefing journalists on this year’s first Monetary Policy Committee (MPC) meeting in Abuja, said banks are private companies who take their decisions on engagement and disengagement of workers based on business imperatives.
CBN backs mass sack in banks – EFCC begins takeover of Akingbola’s properties – Tribune
January 6, 2010 by Bunmi Awolusi · Comments Off
The Central Bank of Nigeria (CBN), on Tuesday, backed the ongoing mass sack by the banks, saying that it was not limited to Nigeria alone and should not be politicised.
Besides, the governor of the CBN, Mallam Sanusi Lamido Sanusi, who briefed journalists on the outcome of the CBN Monetary Policy Committee Meeting held between Monday and Tuesday, said the N620 billion bailout given to banks during the economic crisis was not intended to retain the workers by the banks, as believed by many Nigerians.
