Old and new faces make up banks' N349bn debts

FINALLY, WE ARE GETTING SOMEWHERE. BUT TO KNOW THAT PROF. SOLUDO WAS AWARE OF THIS AND HAS NOW CLINCHED THE ANAMBRA GUBERNATORIAL TICKET, MAKES ME SAD.

Sanusi keep up the good works, i only hope and pray that the ellites and powers that be will not make you to change tommorow.

SOLUDO WILL DO WELL FOR ANAMBRA, WE DONT NEED TO BE JITTERY THAT THE GREAT STATE IS ABOUT TO RISE AGAIN......WHILE HE CANNOT BE ABOVE THE LAW, HIS CANDIDACY BRINGS A RARE QUALITY TO THE ANAMBRA RACE

So when it was the turn of EFCC to arrest Bank PHB directors they suddenly turned their deaf ears? Why are they harrasing the Ibrus and Akingbolas? Its a clear case of unnecessary double standards just because the first family has interest in the Bank I have never seen a more useless Presidency

Sanusi is improving on the foundations of Soludo. I wish to say; thumb up to Sanusi, thumb up to Soludo. Hence, the potentials of Sanusi should not supressed by those in power and that way, Nigeria will get better!

Wonders will never end. Same old names again! A friend of my was look for a loan of just 2million for a very good project and he was asked to bring this bring that, while some pepole are being given loans in 100's of million and in billion if they wish. The banks are killing the young brains.

Wonders will never end. Same old names again! A friend of my was look for a loan of just 2million for a very good project and he was asked to bring this bring that, while some pepole are being given loans in 100's of million and in billion if they wish. The banks are killing the young brains.

@ ERUS, Nigerians are only being rather shortsighted if they keep blaming bankers for what is really a SYSTEMIC shortcoming -- the profound lack of a national identity and/or credit verification database that ensures that banks can actually verify or otherwise evaluate the credit worthiness and/or history of loan applicants.

finally we have seen the light and Ihope we are headed for a better tomorrow

Pat Utomi, what happened?

I see even the Minister of Labor's name on the list...

Professor Pat Utomi - Patitos Gang - SHOCKING!!! WHO CAN WE TURN TO? Only God.

@ ATAYI, what does Pat Utomi has to do with anything? Is he on the credit committee of any of the banks or does he owe money to any of the banks? Board of Directors are policy- makers and not managers (except for the executive directors), and thus are not involved in the daily management of banks. Please, let's not embark on the destructive crab mentality of pulling everyone down.

I suppose you all know that what Sanusi is implementing where issues that were raised by Soludo before hw was replaced, the audit started in Soludo's time, to the point the African Journal carried it in its report in June,Besides the common year end was to enable banks recoup some of their non performing loans and substandard loan, which is one of the reason of shifting the date. I suppose the public display of action by Sanusi is having effect hither to not heard of. You do not destroy peoples integrity by publishing thier names and making them seem like criminals,I will ask how many of this so called debtors have perfromed more than in it statutory responsibilty, it is obvious that killing entreprenueral spirit is what CBN is after. I will say it again at best Sanusi is Misguided and at worst He is Mischevious. Have u heard the Arewa Consultative Forum have set up a committe to see how the northern forum can have greater role in the Nigerian banks, no tribal sentiment I am just saying.

@ ATAYI. OK, I just saw the list. My bad.

Soludo's work must be appreciated in any case. If not Soludo's consolidation Sanusi will have no bank to audit today. However, I charge Sanusi to continue and he should leave no stone unturned in the cause of his investigation. No sacred cow.

this is very disappointing hoe banks chiefs exposed thier customers fund to this kind of iresponsible borrowing and knowing that soludo is in the know of this makes its more painful.anambra state should watch out if soludo should win he might borrow out the state fund .im completely dissappointed

I've taken a cursory look at the list of debtors as published on Sahara reporters and of particular interest is that of Springbank where all the debts on the list were legacy banks debts and non traceable to the ousted management led by Charles Ojo & Co...Spring situation was like Wema bank situation of new management, negative shareholders funds etc.Why on earth would they use the young man's career as a pun in their chess game or was he just another sacrifice to clean their augean stable...Kola Daisi and Co shouting up and down that PHB stole the bank were the actual cause of the problem with the bank or how would you explain the almost N8billion outstanding against him..no wonder he didn't want to let go so as to continue covering the debts.PHB status is embarrassing so is that of ETB.Adenuga owing such billions to his own entity?I'm not even sure the loan will be at zero interest which is another fraud on its own. When will the bad debt list of the stable 14 banks be published or is it that they don't have such debts too? Let's see a complete list and CBN\EFCC's actions on them.

@uyii edo, before you whitewash a sepulchre, I pray thee, tell me if he also did audit for the polymer notes scandal?

Concerned Nigerian, but he has denied any involvement in any polymer bribery scandal (assuming there was actually one). So why don't we all wait until he is actually tried and convicted in a court of law (rather than on the pages of newspapers) before we crucify him.

Mr Governor,keep up the good work u hav started.

Surprise surprise, entities headed by Elizabeth Ebi (listed incorrectly as Obi in one place), wife of CBN Deputy Governor Ernest Ebi show up in 3 places with bad loans to Bank PHB exceeding N7b.

God is really helping us.

Make that N9billion in outstanding bad debts for entities headed by Deputy CBN Governor, Ernest Ebi's wife. Na wa for CBN insider loan and the pay to protect racket that implies.

Can somebody tell me. Is it bad for businesses to owe? We must learn to separate the owners of the business from the corporate entity. Mike Adenuga is not ETB. Pat Utomi is the non-executive vice-chairman of Bank PHB. Kola Abiola is the non-executive chairman. They dont manage the bank.

Soludo go borrow amambra, only if he was aware of this b4 he left office. VERY BAD BRODA

This revelation is unbeleivable. No wonder Nigeria has been mortgaged by these greedy idiots(all those involved). Especially Ali Dangote who was reportedly has multi-billion dollar industry and makes not less than N400million in sales every week. These people has seriously contributed to the hardship in Nigeria. In China these people would have already be executed period. God please help the 40 million Nigerians without work or any source of income.

Thanks for this list, but it is not complete. I know for a fact that JIA Arumemi-Johnson (Arumemi-ihkide) is owing Zenith Bank amongs otherbanks about 40 billion Naria. This is not to talk of foreing loans the OBJ / Odili got for him to front Arik Air. Please check and investigate this. The man changes name all the time

Why is this list as at June 2009? Is it so difficult for CBN to get updated figures? Pls, Nigerians, do not be so gullible as to fall for such gimmicks. We will soon see rebuttals as we did the last time. Watch and see.

wish everybody's opinion could actually have an effect on the economy or polity. This country would only grow when the people that have good hearts rule! 2011 is at the corner, vote for that inteligent man with clear principles of God

this just shows the level of corruption in Nigeria can you imagine all these robbers need to be flushed out of the system that is the only way Nigeria can progress.

Directors are responsible for the state of the banks. A lot of them are just figureheads who collect millions of naira in directors remuneration and support whatever fraud the MDs choose to do. @Big Boss, it's not a crime to owe but it is a crime to divert loans given to other uses apart from the loan purpose and then refuse to pay because you feel you are in power or above the law.

RE-SOLUDO WILL DO WELL FOR ANAMBRA, WE DONT NEED TO BE JITTERY THAT THE GREAT STATE IS ABOUT TO RISE AGAIN......WHILE HE CANNOT BE ABOVE THE LAW, HIS CANDIDACY BRINGS A RARE QUALITY TO THE ANAMBRA RACE. I believe so too. The same WITS, COURAGE & FORTHRIGNTNESS that is the vintage SOLUDO would definitly transform Anambra for good. RE-FINALLY, WE ARE GETTING SOMEWHERE. BUT TO KNOW THAT PROF. SOLUDO WAS AWARE OF THIS AND HAS NOW CLINCHED THE ANAMBRA GUBERNATORIAL TICKET, MAKES ME SAD. Mustach pls bear in mind that Soludo was the pioneer of the current reforms in ths banking sector which Sanusi is continueing. When he began the reforms, he was called Anti-Christ and all other names by many Nigerians and even bank operators. What would have happened if he also initiated exposure of poor performing banks almost immediatly after the consolidation? Your guess is as good as mine. I believe that Soludo wanted to tread softly and eventually resolve the problems-the same way it is done in advanced nations. That he didnt do it does not mean he wouldt have done it. But time was against him. Soludo has nothing to gain by watching the banks he re-formed collapse before his eyes. It just doesnt make sense at all. And nobody has named him among the debtors yet. It was his reforms that earned him the respect of his boss. Sanusi is also trying to earn the respect and confidence of his boss.

A true case of incompentency over the years.Whatever happened to the supervisory bodies ala CBN. But am i surprised? Enter Soludo, I became worried when i kept seeing the Soludo's name in the newspapers grabbing awards from unknown bodies around the world.We must give it to him afterall he tried to bail his friends out with the EDW. Also he turned a blind eye to the Marginal loans era.But he was just economical with the truth when he said Nigria was immune to the global recession. That said, What is the difference between the turnaround chaps Sanusi has put in place and the ones being tried by EFCC. Is this not another recycling ? Soldier go Soldier come! just wait and see. My people this is not the time to start adulations and clapping hands. This is not the change you are longing for.It is still ahead.

i am not surprised by the names that are on the list,if u want a bank loan or overdraft the Nigerian Banks will almost ask you to deposit your wife.The thing now is will the power that be all the authorities to recover all these non performing loans or this is just a case of lets give people something to talk about

@Big BOSS. Nothing wrong taking a loan with a Bank, but it is criminal to default in paying wilfully as is the case of all these hoodlums.

It is interesting to see how in our times incompetency has consitently remained celebrated. Here we have a big fat office called CBN with inspectorates all over the country visting all these banks through the year chaecking their books and keeping quiet. Now Mr Sanusi has replaced the incompetent with turnaround experts(recycled directors)My question is who sets their renumeration? It will also be good to know how much Lamido's friends will be paid for their turn around excercise. Also, will they be receiving same perks as the outsted board? Abi there is no difference. I mean the Jets, Range Rovers and assorted bullet proof cars, Pollice escorts, Uk holidays, Overseas homes etc. It is not clear to the public what their take home is after weeks in office. Abi dat one no concern us? My people, don't get excited this is not the change you are looking for. Sanusi does not even have the spine or guts to effect the lasting change we yearn for. Time will tell but please pray and be patient.

Hidden Agenda that is wat dis is all about. How come is Unity bank managers not sack. You need to read sanusi writeup and stop haiing him. @ Waziri Ibori should be her primarily assignment not those managers you are after ribadu because he did not declare his assets wen he was in office, please waziri,goodluck,soludo and sanusi are yet to declare their assets "Ali Baba and the forty thieves Efcc please stop going after the 40 thieves and aim for the Ali Babas in this country "

Mustash, leave Soludo out of this. Soludo never guaranteed any loan deals for the likes of otedola and dangote rather the named banks executives did. Soludo opened the system up for Nigerians to access credits on any level but as usual, the Nigerian oga and their pupets in the name of Bank chief executives of course sabotaged the system. You 've forgothen the state of the Nigerian Economy before Soludo took over. Grow up.

Tu Face don talk am finish, NOBODY HOLY. We should all judge ourselves.

@ Yusuf Mohammed. What is unbelievable in this? Do you want to pretend that you are not aware that most business thrives on borrowed funds… Yes! Some of them could be greedy, but not someone like Dangote. His so called multi-billion dollar industry has given thousands on Nigerians livelihood. He is paying tax to the government for his “multi-billion dollar industry”. He pays his staff, he is still investing in the Nigerian economy, where do you expect him to get loan from? ABROAD? Or STEAL PUBLIC FUNDS like the people in government? Please give the Alhaji credit for HARDWORK.

CBN SHOULD ALSO PROBE OR INVESTIGATE THOSE AUDITNIG FIRMS THAT RATE ALL DIS WITH VARIOUS RATING MAKING US BELIEVE THAT THOSE BANKS ARE STRONG AND RELIABLE BY ALLOWING POOR PEOPLE TO BUYS SHARES INTO VARIOUS BANKS. I THANK GOD THAT THE RICH ARE ALSO CRYING . THIS IS JUST BEGINNING OF BRAND NEW NIGERIA. MAY GOD HELP THIS COUNTRY, AMEN.

@baby face,beleive me there is no hard work,rather dangote is a fraud.tell me you wont make a lot of money and give jobs. if you borrow large sums of money without collateral,and you dnt pay back.they write it of for you as bad loans. the so called "big boys" made money through the back door.forget this guys.

The same names keep appearing every where - Peter Ololo, Arumeni Johnson, Elizabeth Ebi, Fasawe, etc. Those who defending non-executive directors should refer to the case of Enron. In the case of Enron, the non-executive directors were indicted in the failure because it was their responsibility to supervise and ensure proper risk management, create the culture of corporate governance and ask tough questions which they failed to do. In the US, the Sarbannes Oxley Act was promulgated to ensure that similar things do not happen in future.

@agbonsman, but the guy is servicing his loan according to some media report. So give us instances of his fraudulent activities.

chai,chineke mee,aru emee. pls oh boy una sabi there house?i personally have built 36 maximum prisons in the 36 states of the federation with extra large prison maximum at AJEGUNLE for the fucked culprits.The time duration to arrest all from their bedrooms with those sweet and succulent babes is due.what a mess.Guys we don talk 2 much.lets penetrate their bedrooms and seize thier condoms.They pack our monies only for sex.The bishop must hear this.Oh boy during your tenure no do so please.NAIJA MUST SURVIVE.WE IN DIASPORA PRAYS HARD 4 NAIJA.NWANNE NOTHING MEGA.

@ I hope you know Sanusi and his family are not poor? He is a member of the Kano royal family.

I do not care one hoot about the Ibrus and Akingbolas of this world. But I do care about due process and the rule of law. Enshrined in the Nigerian Constitution is the concept of natural justice as expressed in section 36 of the 1999 constitution. It is obvious that whatever powers Sanusi chose to exercise, in his investigation and removal of the bank executives, he acted against two principles of natural justice viz., nemo judex in causa sua [a man shall not be a Judge in his own cause] and audi alteram patem [hear the other side]. Sanusi violated the first principle, when he was both the investigating and the judicial authority in the matter of the bank executives. In simple language, you cannot be the prosecutor and the Judge of a matter. If such a power is granted in any law, it is inconsistent with the constitution, and such a power would be void to the extent of its inconsistency. In other words, you cannot combine both investigative and judicial powers in the same body. The proper procedure would have been for Sanusi to forward the results of his investigative findings direct to a judicial authority [i.e. the court or an independent and neutral body created by law, for that purpose] for prosecution, if such a power was granted by any law to the CBN or to the EFCC for prosecution. He therefore had no right to unilaterally fire the bank executives until they had been prosecuted and convicted by a court of law or by an independent and neutral body. Sanusi also violated the second principle, because he apparently did not, after his investigations, request for the bank executives to offer an explanation for their apparent misconduct [i.e. to hear the other side]. Instead, he just passed judgement on the basis of his investigations, something reminiscent of military rule. While this garnered some cheap popularity for Sanusi, in conclusion with Yaradua, the “rule of law” President, he unconstitutionally and unlawfully tried and punished the bank executives for their so called misdeeds by removing them from office in breach of all known principles of natural justice. In a court of law, it is reasonable to predict that these bank executives would have the results of Sanusi’s investigations thrown out, and be reinstated to their former positions, just for the breach of these two principles. You cannot achieve a legal objective by illegal means, because the procedure by which a result is obtained is equally as important as the result itself. Where the procedure is flawed, the end result is also flawed, no matter how justifiable the result is. This is one of the reasons why law courts move so slowly, because one of the fundamental principles in criminal law is that a person is adjudged innocent until proved guilty, and suspicion or allegations are not evidence of guilt, until cogent, coherent, consistent and independent evidence is adduced to prove guilt. You cannot short circuit due process or the rule of law, by skipping all the intermediary stages, to achieve a legal result. The onus of proof would have been on Sanusi, in a court of law, to establish that he acted in accordance with the principles of natural justice, and unless the Judge had been bought, his case against the bank executives would be dismissed, and they would be reinstated to their offices. Ultimately, I hope Sanusi has not inadvertently let these bank executives off the hook by failing to follow due process and the rule of law, when he sensationally announced their removal from office for high crimes and misdemeanours in their respective banks, some time ago. This would be a true tragedy, because if any of the stuff we are reading is true about these bank executives, they definitely deserve to go to prison. The big problem we have in this country is that we are operating like a military Government, wherein this kind of behaviour was permissible, because a military head of state ruled by decrees, without reference to due process or the rule of law. That habit has become ingrained in the body politic. In a democratic society operating under a constitution, all power has limitations established by the constitution and the law. No one, including Yaradua and Sanusi have unlimited power to do whatever they like in breach or violation of the 1999 constitution. Unless the Executive Branch of Government is re-educated on the limits of its powers, we shall continue to have these illegal and unconstitutional acts, leading ultimately to the vindication of those we know as criminals and felons. We were just not able to prove it, in accordance with the standards and principles mandated by the Constitution. Anglo-Saxon jurisprudence [inherited by us] is based on the principle that it is better for nine guilty men to go free, instead of one innocent man to go to jail. The presumption is that guilt must be proved beyond all reasonable doubt, so that there is no mistake about sending the wrong person to prison. If there is any reasonable doubt, it must be resolved in favour of the person accused. The quintessence of this is to protect all citizens from trumped up charges, were the standard lower, which would permit a tyrannical or dictatorial Government to imprison any citizen at will. It also applies to the Ibrus and Akingbolas of this world. On that note, I congratulate Sanusi for exposing the rot in the banking sector, although I vehemently object to the methods by which he achieved this result. Let the rule of law and due process prevail in this country. It is to protect the rights and freedoms of the innocent among us. But I guess that is too much to ask, being that this is Nigeria and we are Nigerians. May God save our souls. Amen. [Errors & omissions excepted]

I hope the FIRS is scrutinizing this list of debtors. These guys have a strong tendency of defaulting on their tax payments.

What did Pat Utomi & Co (BAYWOOD LTD) do with N2.74 billion loan from BANK PHB and why is it not performing?

my concern is not on the huge ammount owed by these "noble citizens" but on their deliberate refusal to follow repayment programs,yet they still rove around as credible citizens which they are evidently not with all these revelations.They are nothing more than deliberate debtors. Sanusi and his colleagues must beem further searchlight on his predecessors to find out the extent to which monetary pacifications have gone to condone what he is turning out as intolerable.Sanusi must however be careful as seeing Soludo in the midst of security afer been handpicked to run for Governorship in Anambra in 2010 should be instructive. The man, i believe should now weigh more that the law of the land ,Lets buyers beware.!!!@

Let me augment my previous post on this issue by emphasizing that a person is innocent until proved guilty beyond a reasonable doubt in a court of law. This is guaranteed by the Constitution. Therefore, Sanusi's sensationalism and desire for cheap popularity was uncalled for, as the prejudicial release of his investigations, to the public before the courts was premature. If his special investigations had been done in accordance with due process and the rule of law, he still has to prove the guilt of all the bank executives and so called debtors in court, in accordance with strict legal and constitutional standards. What is proof under his investigations, may not qualify as such in a court of law. The courts will also have to determine what is a non-performing loan, and whether granting a loan, which eventually becomes non-performing loan is a civil or criminal offence under the laws of Nigeria, or if it is an offence at all. The answer to this, should be interesting, since Sanusi has no authority or power to create new offences, unless such an offence already exists in the laws of Nigeria. Since granting loans is one of the primary functions of a bank, there must be much more to make the matter criminal, than the mere granting of loans per se, be they non performing or otherwise. The nature of the offence, will then determine the level or type of punishment that can be imposed by the courts, if the offence is proved. While I believe there is a grain of truth in all Sanusi’s allegations, his methods appears to be a diversionary tactic hatched with the connivance and collusion of Yaradua to take our eyes off the corrupt political class, while feeding the corporate class to the wolves. Much like the Roman emperors diverted their citizens with spectacular circus displays in the coliseum. Also, it appears to have been calculated to give the idle and discredited EFCC something to do, since the prosecution of the corrupt political class had become a no go area under the Yaradua regime. Even though all these men have been convicted in the court of public opinion, we now need to wait for the courts of competent jurisdiction to pronounce them guilty for all the high crimes and misdemeanours, as alleged by Sanusi. In the meantime, pending the verdict of a court of competent jurisdiction, they remain innocent men. That is the law, and that is due process. Section 36(5) of the 1999 Constitution states that "Every person who is charged with a criminal offence shall be presumed to be innocent". And the onus of proof is on Sanusi and the EFCC. There is no doubt that Sanusi has prejudiced the rights of these bank executives and debtor defendants to a fair trial as guaranteed under the Constitution by his incompetent handling of his special investigations. Being an educated man, he should have let his actions be guided by the Constitution, due process and the rule of law. As it is, his actions appear to be some kind of vendetta, for motives to which the Nigerian public is not privy. However, the damage has already been done. Let us hope and pray that these banking executives and debtors are not eventually freed on legal technicalities by the courts, as a result of Sanusi's less than professional and incompetent handling and premature publication of his investigations. I believe most of them deserve to go prison for their banking atrocities, if proved in a court of law. If in the end, they are not convicted, the entire blame shall rest on Sanusi, because he chose not to follow constitutional and legal procedures. Yaradua also must share the blame with Sanusi, as Yaradua has no power or authority to ask any public official or functionary to act contrary to the law or the Constitution. If such a situation were to arise, such a public official should resign promptly and honourably. But then this is Nigeria. There is only one record of a honourable resignation of a public functionary in the history of this country, and that was Dr. (Mrs) Ngozi Okonjo-Iweala. Maybe, Sanusi will be next. [e&oe].

Errata: I would like to make a correction in my last post i.e. "...There is only one record of A honourable resignation of a public functionary in the history of this country, and that was Dr. (Mrs) Ngozi Okonjo-Iweala..." should be "...There is only one record of AN honourable resignation of a public functionary in the history of this country, and that was Dr. (Mrs) Ngozi Okonjo-Iweala..." Thanks.

They said that they will sack more people. Pls let them do it quickly, am leaving in fear. Diamonds take note.

@ New: Ali Baba was the good guy. The 40 thieves were just that, thieves. Now if you'd read the story, you would know that. I imagine you have no information here either...

Lamido, you are very great, ride on, NEXT keep it on. God will help u all including all commentator that are contributing in one way or the other.Dangote, Atiku, Otedola, Arisekola etc. So Otedola you use Nigerian mnoey to buy AP, Arisekola your own to revive Lister Oil at least u are about to commission about 5 Mega Stations in Ibadan alone not to talk of any other places, Dangote ah ah ah, Atiku after huge amount you got during ur regime. Oooooooooogggaaaaaooo. May be u people think they will burry u with all these huge money, Ask Abacha's family if they burried Abacha with anything. I know, it remain just 1 day that Our Merciful God will catch you these people one by one. Next, God will protect u all with ur Publishing Company. Amen. Lamido, God will guard u but these people have to be jailed. Thank you. Continue

Now Soludo has been given Anambra State PDP ticket, is that his reward for the mess in the banking sector? It is only in Nigeria that people neglect their responsibities n get away with them.

Why will people keep calling the name soludo. Is he the Debtor? Is he part of the bank executive that approved the loan? Pls let s face the debtors and those that made the loan to be non performing.

And obasanjo is not owing anyone yet he owns so much, life is unfair

If Mr. Lamido Sanusi, the CBN Governor does not have any hidden agender, he sould whole heartedly be supported by all. But if as it is being rumoured, that he is pursuing a Northern agender, I am afraid, he might fail. All should remember that there is a day of reckoning. Power remains very transcient. WE SHOULD ALL REMEMBER THAT WHATSOEVER WE DO HERE ON EARTH, WE ARE ACCOUNTABLE TO GOD WHO IS ALL - KNOWING. GOD BLESS NIGERIA AND SINCERE NIGERIANS, AMEN.

Between Dangote, Mike Adenuga, Otedola and Jimoh Ibrahim, over 100,000 Nigerians are employed. This means at least 500,000 Nigerians depend on these fellows to survive. And all we do is throw mud. Between, the irrepressible ex-con DSP Alams, the escapee and taciturn Joshua Dariye, the ex- con James Ibori and Lucky Igbinedion and the fat bellied ex police chief and ex-con Tafa Balogun, what do we have? Billions of Naira of the people's money hidden in personal investments in safe havens. Yet these are the ones that still parade as elders, leaders of thought, party chieftains, Guest lecturers Presidential confidants and modern day Godfathers. Good people of a great Nation. Na Wa O!!!

@ BONGE. No non-executive director of Enron was indicted or prosecuted. Not a single one!

U guys dont seem to read between the lines in this country...if a loan is non-performing and there was a security/collateral for the loan,simply sell it off and offset the loan.No wahala.Afterall thats why d banks ask for an arm and a leg when we go for this loans.ERUS, tell Ur friend with the good project dat needs 2million naira to get in touch with me.I might help him.

U guys dont seem to read between the lines in this country...if a loan is non-performing and there was a security/collateral for the loan,simply sell it off and offset the loan.No wahala.Afterall thats why d banks ask for an arm and a leg when we go for this loans.ERUS, tell Ur friend with the good project dat needs 2million naira to get in touch with me.I might help him.

@Malice. Fine words; too bad you didn't bother to read BOFIA. You would have learnt that all the substantive steps that Sanusi took, and the process he followed, are fully sanctioned by that Act. Your statement that "He therefore had no right to unilaterally fire the bank executives until they had been prosecuted and convicted by a court of law or by an independent and neutral body" is just plain WRONG. Don't take my word for it, read BOFIA yourself - [http://www.cenbank.org/out/Publications/bsd/1991/bofia.pdf]. As to Madam Farida's subsequent actions, well, all your high-flowing words about the constitutional guarantee will apply there. BOFIA also provides for criminal sanctions as well, but the burden will be higher than for regulatory action by the CBN governor.

@ola. Are you ola otedola? Must be why else would you come with such stupid comment? think if someone feels they have been conned theyre entitled to an opinion!I would be ashamed if I was you, when your walking down Slone St remmember people now KNOW your dads a thief, for the REST of your life when you go for a job interview the person interviewing you would have Googled you. THEY will have an opinion! So stop walking around like a diva as everyone KNOW your dads a croak that steals from the poor to fund your pathetic lifestyle. Hope you enjoyed it because JUDGEMENT day will soon come. Thats the best part of releasing these names it should hopefully make these losers come down a peg or two.

Hmm! So much for the big names.

How come Nigeria's sons and daughters are out to kill the HER?!! One day, what happened in Ghana will happen in Nigeria and all the big big thieves would be ridded off to enable the place start on a clean slate. This educated illieterates are behaving like leaches wanting to kill the dog. But when the dog dies, the leaches cannot live too. Many days for the thief but One day for the Owner. The time is fast approaching.

I don't understand why Mrs. Ngozi Okonjo-Iweala resignation should have been "honorable". She was a corrupt Minister of Finance under a dictator and embezzled billions in that function. She was fired because she did not want to share enough of the loot.

Every businessman need loan facilities to develop and run their business which in turn generate employment.publishing names of people who borrowed money to do legitimate business is bad judgment.I do not think someone like Aliko Dangote will take loan and not service it. He is a reputable industrialist. He has just sign a multi-million contract with with for cement lines in Africa with China’s Sinoma. This means that he is very capable to manage his empire with or without loans from any bank.

I think the problem we have in this country is more of that of ignorance- People do not know what is happening around them. And because of hunger in the land, any thing goes. Selfishness has taken over the mind of the people. We are more concern about cardinal/geo-location and tribe. I have followed the recent banking reform with keen interest. Believe me brother; I am of the opinion that the rot in the Banking system like every other system in Nigeria is systematic. The rules are there but not enforced...BOFIA-Banking and Other Financial Institution Act and CAMA-Companies and Allied Maters Act 1990 and some many other regulatory framework are there in black and white...But few criminals has decided to hold the general public hostage. I am fully in support of Sanusi’s Action…My fear is sustaining it… If we must grow as Nation there must be Systems for Effective Checks and balances…

No economy will strive without the banks giving out loans and supporting projects. Is it possible that a person like Dangote will have none performing loans... i do not think so. The Dangote Group just signed a deal worth over $500 million with a Chinese firm. It is an indication that his companies are doing well. He has great stakes in Nigerian, considering his huge investment in its economy. It is very bad for Sanusi to have published the names of Nigeria's industrialists, as debtors.

@Gimba. A debtor is a debtor. It means that a person like Dangote has collected money/Loans from Banks-Public Money and He trying to convert it to his personal money. By doing that, He depriving other millions of Nigerian the chance of accessing the funds that would have aided their contribution. I think the question is...Is it possible that a person like Dangote will have none performing loans... like you have asked. And if it is truth...His punishment should be doubled ...

@Kekemeke and Co.”Every businessman need loan facilities to develop and run their business which in turn generate employment”. But this can not be if few men come together and collect moneys from over 150Million Nigerians and the whole world…refuse to pay, refuse to service it…it is written off as bad debit…converts the moneys to personal fund….and employs a miserable few…It means they “criminals and fraudsters ”. It is high time we started looking at each situation on it’s merit and leave selfish sentiments and very serious Nation and Macro-economic issues …

Corrections..@Kekemeke and Co.”Every businessman need loan facilities to develop and run their business which in turn generate employment”. But this can not be if few men come together and collect moneys from over 150Million Nigerians and the whole world…refuse to pay, refuse to service it…it is written off as bad debit…converts these moneys to personal fund….and employs a miserable few…It means they are “criminals and fraudsters ”. It is high time we started looking at each situation on it’s merit and leave selfish sentiments on very serious Nation and Macro-economic issues …

@ KEKEMEKE. Very true, every businessman needs a facilities to develop and run their business, They also need a business plan that pays back these loan facilities.... No?