Where is Cecilia Ibru?

You said it, 'she rose from being a housewife...' No doubt she has tried no matter her failings now. Next pls leave mama alone.

I will like to preface my comment by paraphrasing the words of claude Ake which says that " the hottest part of hell is reserved for those who have the exceptional privilege to say a word of truth to the oppressor but take cover under mute indifference and cold complicity." The issue of Cecilia Ibru and Oceanic bank have been overflogged by journalists and media houses.It shows that these people do not follow historical events! What has happened in the Banking sector in Nigeria is very much similar to what have happened to American and European banks in the very recent past - a situation whereby American Banks give out Mortgage loans to its Citizens and they( American Citizens) where unable to pay back these loans! American Government throught its Central Bank did not embark on destructive criticisms, character assasination and sacking of top banks executives as the Nigerian Government through its Central Bank Governor is doing at the moment! Rather they ( American Government) initiated extensive bailout out plans for these banks - let Nigerian Central Bank stop these character assassination and firing of Bank Executives, and initaite extensive bailout plans for these banks just like the American Government have done! Also, let the Federal Government go after those( Big shots) that are indebted to these banks and make them pay these huge debts - and stop these destructive Journalism and publicity about these top banks Executives particularly that of Oceanic Bank!

It's pretty disappointing that having done such a fantastic job of covering the banking debacle, Next is further publicizing what it acknowledges to be unsubstantiated rumours. What is the relevance of her allegedly "legendary" status? Why aren't we getting blow-by-blow accounts of the whereabouts of the other affected bank MDs, or EDs, for that manner? I don't see anyone of them running around, why no innuendo about them? Please, stick to the fac, they're damning enough, those interested in salaciousness can get innuendo and inference from the likes of S*itty People!

For me, its political....

What goes around comes around. Cecilia Ibru and her children thought they were demi-god. They all lack the basic knowledge of banking and they made matter worse by sorounding themselve with eye-service senior manager who only came to earn their cheap salary and fast promotion. She had made innocent bankers with their family cried in the past with her worst enmass sacking when lazy auditor who cannot do their job well frequently reccommend general dismisal..the world worst most frequent & general dimmisal. God will judge everyman and Cecilia will never go scot free without reaping the bitter taste of wrong judgement she made as a CEO when she was meant to act motherly she acted wickedly and stupidly. God will judge everyman

The decision of the CBN Governor to sack the CEO's of the 5 Banks on August 14th 2009 in press conference was too hasten because it is now having a negative effect and impact on the whole of the Nigerian Banking industry & sector, because it now generally considered as unsafe, unstable and not predictable by foreign Banks and businesses to whom LC’s are issued by Nigerian Banks. In my opinion, the CBN should have sat down with the Banks CEO's and work out a quite, systematic easing out of the CEO's and boards and their replacement without creating panic and uncertainty in the Banking industry & sector. This Mallam Sanusi will do more damage than good to the Banking industry & sector because he sounds and appear to be in a revenge mission against all the new generation Banks and all others competing with his First Bank from where he became CBN Governor.

I think this matter is been over flogged. Yes, the Bank executives erred and have been punished. I think what we should start doing is to rebuild confidence in the banking sector and not tear down what is left. What will NEXT gain by constistantly haunting a particluar former bank executive person...pls get a life!!! We have former army generals,politicains and business men/women who have defraunded the economy several times over and are still walking the streets free!!! Pls NEXT we love your drive but you guys are going over board and that its always the problem with...junk news.

ha ha ha .............IF NA UNA ..UNA GO WAIT ? MAMA DON BORROW LEG JOIN LEG....MAMA DON TAKE OFF........WONDER MAMA....UR SINS GO FIND U OUT.....HA HA HAHA HA ..........

Your Guys have loss focus. Pls stick to the bans abd leave out the former MDs.

Like sekav said, it's political.

HOW CAN EFCC SAY THEY ARE LOOKING FOR MRS IBRU, LETS STOP PLAYING POLITICS, THEY KNOW HOW TO GET HER, SUCH A BIG FIGURE HAS NO HIDDING PLACE. LETS STOP PLAYING GAMES AND GET DOWN TO SERIOUS BUSINESS. ON DAILY BASIS ROBBERS ARE KILLED FOR ROBBERY OFFENSES, THESE CEO'S ARE PEN ROBBERS AND SAME MUST BE DONE TO THEM.THIS IS WHY CLINTON MADE HER OBSERVATION AND I THINK IT IS RIGHT. I HOPE EFCC KNOWS WHAT THEY ARE DOING. NO SENTIMENTS OH! FGN SHOULD GIVE EFCC THREE DAYS NOTICE TO BRING OUT MRS IBRU OR BE SACKED. THE RICH ALSO CRY!

Mama has and always will be an icon. She may have missed it somewhere..but dont we all miss it sometimes. Lets help her rise again ..a mistake of this magnitude is invaluable experience.One i know by the grace of God she wont make again. Lets pray for her and all others affected.

I guess Dan Omuya or his relative was a former staff of Oceanic. I also know that the culture in the bank during her tenor is that staff worship (dobale /rankadede) and do a lot of eye-service to move up the ladder. The Bank until the last one year does not have a virile Enterprise Risk Management Structure. Credit decisions are based more on feelings, political considerations rather the age-long cannons of lending. Hope she is not in Berlin to challenge Usain Bolt for 400m!

from the look of things and choice of words when reporting about Oceanic bank and its managment especially cecilia ibru its obvious NEXT has an axe to grind somewhere and you guys are just capitalizing on this unfortunate incidence to exact your pound of flesh. your reporting is not only repulsive and unsubstantiated also from reliable sources that cant b confirmed. please note if you guys finaly succed in creating a run on the bank you would have gained nothing. your sponsors would leave you and move on.

WE DON HEAR O....NEXT WE DON HEAR.....PLS STICK TO THE MAIN NEWS AND STOP THIS NONSENSE YOU GUYS ARE DOING

No sector in Nigeria can survive strict scrutiny, not even the media, especially news journalism

I'm seriously hoping this personal attach is based on substantiated evidence and has nothing to do with the fact that she belongs to the dynasty that owns the arch rival to this publication. As protagonists of the law would remind us: "everyone is innocent until proven guilty!". And here endeth my lesson for the day!

I will advise u guys whoever you are to write things you can defend on a good day. You can never attain prominence in your industry by posting fictitious stories about an individual, a group of individuals or an organization. Remember God is judge over all of us

NEXT, I am surprised at the brand of journalism u guys are coming out with. You are just starting, not yet accepted by the people and u think bringing people down is the best way to break even. U guys may not go far if u indulge in unprofessional practices like this. if it was Encomium, city people or fame that is doing this , there will be no problem but NEXT!!! A stitch in time saves nine.

In a country where over 60% live in abject poverty with no visible sign of hope, be it near or latter future, I still cannot come to terms with how five ex-ceo's could have total control of a quarter of the nation's annual budjet. The governor of the cbn should be commended for his actions and a caution to EFCC....we hope justice will be done.

At least there is some sanity in this forum. As I noted somewhere else, Nigeria is a country of Bad Belle people. That is why we are so poor and backward. Pull him down is our major national pastime. How many Bank MD's in Europe and America who plunged the whole world into an economic crisis by granting sub prime mortgage loans which went completely bad are being hounded and harrassed by security agents - jail them! murder them!! destroy them!!! Is it a crime for a bank to give loans? Who told u that the loans were not colateralised? Is it not that the value of the colaterals have been eroded by a combination of falling oil prices and stock market colapse? Are any of the loans traceable to Mrs Ibru and her children. Mama, no shaking. The just will always be vindicated. We are all praying for u.

I think this continuous attack on the person of Mrs. Ibru is unnecessary and petty. Kindly focus on the debtors whose greed have threatened the survival of these banks and others yet to be mentioned..I am beginning to think Next has got an axe to grind with the Ibrus. Pls watch it, especially now you're yet to gain prominence in the media sector.

When PM news published as fact these things, did any of you go to thier website to blow grammar? NEXT now goes further to confirm whether there's truth in these rumuors and says there is none, you guys whip up yourselves and start a war. We Nigerians are funny sha. Is the hiding of information not what got us here? We have been used to being taken for granted that when we are given our natural rights to be in the know, we act like the slave who didnt know what to expect of freedom and defended his 'owner'! Kai!

@ Next, you dnt have to bring personal life to business life.what has house wife got to do with your pulication? Please do your job.

Time would tell...

Let him who has no sin be the first to throw the stone. Time will tell it all. we are waiting and please leave Mrs. Ibru alone, none of you can achieve what she has been able to achieve. Many families have benefitted from what she has done, we will continue to pray for her and let all her enemies know that although she fell, she will surely rise again because she is a child of God.

@Victoria, it is my prayer that I will NEVER achieve what Cecilia and her likes have achieved; making innocent shareholders suffer for their greed! People's shares, meant for their children's fees, for their retirement stands in jeopardy and you are talking to NEXT who is telling it as it is. Why is she not walking around if she is innocent? And what is wrong in saying she was a housewife in fact, I think they were doing the woman a favour celeberating her rise....

lets leave mma (cicila ibru) alone and face the reality.it is pure politices.

To all commentators,Let him that is without sin,cast the first stone...

I recall Thisday used the exact same phrase "housewife" to describe her, actually........

I have read EVERY comment posted on this story and I can say that the bulk of them were written by a group of silly or intimidated guys who have gained one favour or the other from Cecilia Ibru and are now coerced into making such comments to show their solidarity to the one about five of them called "mama", during these hard times. Some idiot even said "Mama, no shaking". The criticisms of NEXT are embarrassingly stupid. How could any patriotic Nigerian say it does not matter that the woman, who is wanted by anti-graft agencies, is on the run? How could any reasonable person say that it amounts to junk journalism or rumour mongering to report that the EFCC spokesperson said the agency does not know her whereabouts and is looking for her? How could any interested person say that they have heard enough of the matter concerning the sacked bank CEOs when the matter has not been satisfactorily resolved? How could any living person ask the NEXT guys to get a life when our banks are on the brink of collapse? How could any hard working person say it amounts to the "pull him down" syndrome when NEXT reports the flamboyant lifestyle a CEO had and has when the lot of of us can't get a decent pay despite our hard work? What is wrong with many of the people in this country who can read and write English? It is so sad the lot of us are so damningly stupid. I have this one advice for the guys at NEXT, you are up against a public that has suffered many years of intimidation and lack; if you expect to get praise for saying things as they are, you can every well fold up and go to the moon.

NEXT, U guys are the boom givin us the news as at when due.About the bank excos well lets believe only GOD knows what goes on behind the curtails

Continue lieing to us o Majiri. You think you can fool everybody? BFCL, Wave, Orion Technologies, who does not know that the Ibrus own these companies, irrespective of the stoogies they put there as directors (which you might be one). To put the facts right, Orion was managed by Obaro before the food finished in the plate. BFCL is a utility company they use for various nefarious acts. They supplied them with despatch riders, drivers, services with spurios costs et al. When commenting in the public, you should not suggest that we are all ignoramus and try to bamboozle us with these pleas. There's no cosmetic that can embellish wrongdoing for ever. It has been designed by God to 'show face' after a while. If lies abound to the horizon, the truth will meet them one day. We should be happy it's happening in our lifetime. The truth was hidden throughout some people's lifetime.

Well...i cant imagine what is presently going in the banking sector. It's not funny anyway...Is it just now that CBN discovering all these bouhaha. All i know is that there is power that be that is behind all these...watchout more are still coming & dont be surprise ...you might be next ! LOL !!!

Antony .O. You must be a beneficiary of this mess if not u will not compare the western world with what is going on in nigeria! The mortgage u are talking about was given to the common man in America not the elite if u dont know, pls next time try checking ur facts b4 making comments on public issues like this.

Did you bother to check if this same banks are the top on the list when it comes to granting loans, have you never heard of Northern Rock in the uk. It's very funny how the typical Nigerian mind works. At no specific time or place did anyone come forward, with solid accusations on grounds of theft, now for those of you who are playing with big words and do not understand what you are talking about, the cbn governor made a decision to terminate there appointment, because he didn't agree with the methods and protocols estiblished regarding loan allocating and ...... Now North American and European banks make use of a 0. or single digit profit margin on bank loan returns. Now to get a loan in Nigeria is not an easy thing and we thank God for that. We are trying to compare the roots of our economy with that of the western world... how many of you here are paying water bill, when you have a bore hole, how many of you are paying your taxes and the equivalent value added tax to the western world. I live in the UK, a few years ago if i needed to get a loan to buy a truck load of condoms for myself, the whole deal would be done in a day provided i have the required 40% of the funds, a mortgage and thats it. I really dont think the Nigerian know the true meaning of the recession, we are an importing country, we are enjoying the recession its the very minute part of the exporting part of the economy thats feeling it, just try leaving in the uk for just a few weeks and you blood would cool down. People look behind the mirror, that woman is doing this country a favor, oceanic bank is the bank to go to right now , regarding loan acquisition in Nigeria, but lets not forget that the average interest margin in Nigeria is in it double figure, which i call Tough Love, cause if any tom, dick and harry could get a loan then, the economy is in trouble and the funny thing is that we do not have the safe guards to cushion the blow, Now how many Nigerian's can spell mortgage. I Know the Ibru's personally, now before you can get an ibru daughter to go against what she believes, never happening and they got that treat from there mother, talking about a family run empire that has been built just over three or four generations how many ppl here can say the same thing and for a woman to take charge and also get the bank to where it is now. I know she isn't running.

Anthony .O. You must be a beneficiary of this mess if not u will not compare the western world with what is going on in nigeria! The mortgage u are talking about was given to the common man in America not the elite if u dont know, pls next time try checking ur facts b4 making comments on public issues like this.

This is the problem with you nigerians!!!! You cannot see black and say its black. Let the truth be heard. More elbow grease to you NEXT!

All my life all I wanted to be is a house wife it is the supreme career for every woman in this world.So why do you people see this as a detrimental comment against Mrs Ibru?

Please report on facts. There are far too many rumours and speculations in the media as it is. Facts and evidence: if you simply and steadfastly stick with these I am sure you will be rewarded. Unsubstantiated stories - Please!!

IF EVENTUALLY MRS IBRU IS FOUD GILTY OF DEFRUADING THE BANK, SHE SHUOLD BE MADE TO FACE THE FULL WRATH OF THE LAW. SINCE SHE HAS NOT BEEN PROVEN GILTY BY A COURT OF COMPETENT JURISDICTION, YOU GUYS SHOULD STOP CASTIGATING HER.

I'm baffled that someone who does wrong is being excused by others. These sacked CEO's are heartless criminals. That the news media once celebrated them does not call for lambasting the same news media that is doing an expose on the criminal acts. For those supporting these disgfraced CEO's , it beats my imagination. What if those these banks had evenytually collapsed with people's life savings. Think about those who would die of high blood pressure at the reality of losing their life savings, think about those who will become suicidal, think about children whose quest for education will be cut short because they parents savings were trapped in the failed banks. Some folks here still have the effontery to accusse the media for hounding these CEO's. I was an admirer of Erastus Akingbola until the bubble burst. Let all the CEO's and their cohorts be jailed. As for Professor Charles Chukwuma Soludu and Tunde Lemo, they are the BIGGEST disgrace. The two of them have rubbished the name of the great University of Nigeria where they obatained First Class degrees. Charles and Tunde clearly colluded with those banking thieves to rob Nigerians.

PEOPLE what is the way forward. We cannot continue living in abject poverty. Did you read or hear it... '' FAILED STATE'' Plz FGN restore this nation ASAP.....

What the fuss about NEXT and IBRU? Next is only reporting it as it is. Why is Ibru running away after dolling out peoples money? Let Ibru submit herself like Ebong and 2 other banksters. It is an irony that Akingbola ko le se bi omo Akin.

PEOPLE what is the way forward. We cannot continue living in abject poverty. Did you read or hear it... '' FAILED STATE'' Plz FGN restore this nation ASAP.....

"Please report on facts", some idiot wrote. What are the facts? 1. She rose to become the head of a family business that went public 2. She and others were sacked for mismanaging shareholders' funds (She has not challenged this in court) 3. Others are in town. 4. She is no where to be found and authorities are concerned. 5. The EFCC says it is looking for her in order to investigate her like they are doing others. 6. She has not been to the EFCC. So, what other facts should NEXT report based on? Or should they hide these facts are look for the myths that says the woman is a born again Christian, philanthropist, beauty queen, etc? Look, can the idiots in this circle give us room to have a conversation?

NEXT keep up the good work! In times of crisis clear thinking can be a scarce commodity. It’s about time we called a spade a spade; rather than couch reality in euphemisms. George Orwell 's explanation is succinct "Our civilization is decadent and our language -- so the argument runs -- must inevitably share in the general collapse." A manage-it mentality has eaten deep into our words, thoughts and actions. Lack of a delayed gratification culture has spurned a web of instant gratification – hammering Hummers on demand is the norm. We don’t invest in but speculate. Admittedly, before now, the likes of Ndidi, Cecilia and Erastus (it’s said he’s on the lam too), were role models of many Nigerians. (Forbes says Dangote is on the brink - http://www.forbes.com/2009/08/19/billionaire-nigeria-bank-scandal-business-billionaires-wealth.html) Now the truth about them is out and it’s inconvenient to accept. In utter denial, tirades and conspiracy theories abound. Much like the so-called ‘Birthers’ in the US who, against all logic and available fact, believe that Obama was foreign born. Absolute bunkum! Back home, these one-time heroes ran their companies to the brink - their cronies were beneficiaries of loans that have gone sour. Now the banks are skint and propped by public funds, the erstwhile doyens of banking scuttle for cover. It’s sad but true: Naija is run by a narrow moneyed class (most of them dodgy) in bed with politicians and public officials - an incestuous relationship. But there’s hope. Nigeria will prevail if the likes of NEXT can brave the odds to report it as it is, eschewing shallow thinking and lazy language - a rarity in Nigerian journalism. We need a few good men and women in private and public institutions with the cojones, brains and integrity to move our nation forward. God bless Naija! P.S George Orwell's Politics and the English Language is a must read!

whats even this hollabalu all abt sef? why have they decided to start xter assasination? why did nt they wait for all banks to be audited b4 releasing results? why didnt they inject d 420b for the bailout b4 sacking these chiefs? CBN and FG are jst corrupt folks in which there game plan will soon show.. be on a lookout.

Its all too overwhelming! Without CBN's recent actions, the keepers of the faith in the North wouldn't have paid what they owed the Banks. I hear a lot others are making concious efforts to pay back part of their loans. However its early for CBN to start calling for for an 'expression of interests' from willing investors in these Banks. What is government and CBN doing about the new president of NSE, who have been manipulating AP's Shares? All these efforts are ochastrated manipulations to deal with some sections of this country - utilizing the machinery of government to deal with percieved targets. No due process, no warnings, etc. Lets think outside all these. Was CBN actions necessary afterall? What have they done about Unity Bank? Its all too overwheming. Nigerians should watch as the episode unfolds.

@ Tosca so let the house finish burning before they start offing the fire eh?

i see all of these as political and NEXT is now joing in the race. I kan to wa teyin efa oju eje lo (for those that can see beyond thier nose). God will judge everybody accordingly.

Its grossly unfair and highly irresponsible for anyone to cast aspersion on the person of cecelia. This woman is presumed innocent until proven guilty. Has anyone ever bothered to ask why First bank was let off the hook? Why UBA was pardoned? Its a cabal thing and God will expose them sooner or later. NEXT shld do responsible journalism.

Points to ponder: 1. Dafroy; so if loans are given to a common man and he fails to pay, shareholders funds will not be lost because it was given to a common man? 2. If you fund a cargo of A.G.O at 10 million dollars and b4 the cargo gets to Lagos the price of crude falls by 60% and hence can ony recoup $4million after sales, what crime has the Bank who funded committed? 3. If the banks refused to fund the likes of Zenon, Oando, AP and left the market for the Mobils, Texaco and NNPC can we imagine what the situation in the market would have been today. 4. Have we forgotten the situation of petroleum product supply b4 these banks took the bull by the horn? 5. If every banker who gives a bad loan is a criminal, will there be a banking profession? 6. Does BOFID say do not give loans to related party or you must declare your interest? Pls I need some answers.

If oceanic bank was sanctioned bcos of ''non performing loans'' as said by Lamido, why is it dat 1st Bank was not sanctioned? Lamido is acting out a script and time will soon tell. Reports have it dat he is ready to also sack Jim Ovia of zenith, Atuche of PHB, Spring Bank MD etc. Has lamido bothered to check out what is happening in Unity Bank?

Truth is always bitter on the tongue of 9jas. The culture that the rich must always be above board no matter the atrocities committed has been entrenched into our national fabric. The points above are facts which most of us are not comfortable with. In Nigeria, bankers live an extravagant lifestyle. Our top bankers compete with musicians, actors when it comes to popularity. There is no way they won't misappropriate depositors money no matter how rich they are in order to sustain their inordinate taste.

I suspect that there are some agents of the 'Ibru Foundation' on this forum. Next is in the business of reporting NEWS information. Cecilia Ibru is the more popular figure amongst the axed CEOs and as expected has garnered more attention that the rest of 'em. Next, you've got OUR backs. Keep doing what you are doing!

WHAT ARE WE SAYING HERE? IT SEEMS THAT SANUSI LAMIDO SEES THE SACKED CEO AND THIER BANKS(MRS IBRU INCLUSIVE) AS A TREAT TO HIS OLD GENERATION FIRST BANK OR HOW ON EARTH CAN HE BEHAVE LIKE THAT CUTTING OFF THE HEAD WILL NEVER BE THE SOLUTION TO AN HEADACHE. FOR YOUR INFORMATION I AM A SHARE HOLDER IN ALMOST ALL THE BANKS (ALL THE 5 BANKS INCLUSIVE), YET SANUSI WAS WRONG IN DOING THAT.YOU CAN IMAGINE HE BASED HIS DECISION ON AUDIT OF AS AT MAY 31, 2009, WHAT HAPPEN BETWEEN MAY AND AUGUST 14, 2009. BEFORE HIS APPOINTMENT HE WAS AN MD OF 1ST BANK, DOES IT MEANS HE DID NOT GIVE OUT LOAN IN 1ST BANK. NOT ONLY THAT, SOME OF THE DEBTOR CLAIMED THAT THIER LOAN IS PERFORMING. LET US ASSUME HE IS DOING IT IN GOOD FAITH THEN HEAD MUST ALSO ROLL IN CBN BECAUSE SOMEBODY SUPERVISES THOSE BANKS. SECONDLY WHY IS IT THAT LESS THAN 50% OF THE BANKS AUDIT WERE CONCLUDED? 10 BANKS OUT OF 24 BANKS.WHY NOT CONCLUDE THE WHOLE AUDIT OF ALL BANKS AND RELEASE THE RESULT AT THE SAME TIME. ACCORDING TO SANUSI THE FOLLOWING BANKS HAVE NO CASE TO ANSWER: FIRST BANK, GT BANK, DIAMOND BANK, STERLING BANK AND UBA. YOU CAN SEE 1ST BANK WAS AMONG BUT UNION BANK WAS NOT. LET WAIT AND SEE WHICH CEO WILL BE NEXT! TILL THEN

I feel something fishing is going on here. Someone must have stepped on d wrong or big toe. Government, media, nigerians are watching!!

@Majiri - Are you saying that BOFIA allows a bank to give out a loan without adequate collateral because of the dire needs that will be met? If an oil importing company doesn't payback because of the slide in crude price, should the bank not fall back to the collateral? Abi the money na awoof? There are 1001 reasons for a loan to become very hard to repay, especially in nigerian economy. But that should not be the business of the bank. All it should strive to do is to see that the money is repaid, Shikena! if we shld all fold our arms and let the bank fail When the thing fails, who go borrow them Zenon and the like money? You are also saying she was doing a whole lot of good by giving N8 Billion to a poultry farm when it was clear that even if dem fowls begin shit diamond, e go hard to repay the N8 Billion. We no fit see the poultry site for 9ja since dem dish d money. We know she has been a very nice person to you. We thank God for her life on your behalf. That doesn't mean you should see black and call it red.

Reading some of the comments here, no wonder why the likes of James Ibori stride the corridors of power with impunity and why the AG sees nothing wrong in his hidden agenda of impending nolle prosequi!

Sanusi keep up d good work.

God has used Cecilia Ibru to give jobs and help people gain all kinds of working experience. She might have made this mistake but it does not make her a criminal. Granted her mistakes and inability to seperate politics and tribe have led her to this sad state but it does not give NEXT reason tot out junk news to see a paper that still needs to make a name for itself! NEXT! NEXT! NEXT! y'all need to be careful with ur news peddling. The fact that she rose from being a housewife should not be used as an insult but as praise anywhere anyday because you once praised her and she was once an icon to our daughters and sisters. Next, This is not the end......why not go hunting for hotter gist n stop boring the general public?

Personal attacks on Mrs Ibru and any other CEO's are unvessary. Journalism must always be fair and truthful. Too many innuendoes and halftruths flying around. What we need are facts. Leave the rumours and disparaging remarks to the likes of City People.What do her pearls have to do with the price of fish in China?

@Gbenga A are you wondering why NEXT is sinking its teeth into his? Hmmmm let us all take note, it will soon show Nigerians are mean people. We like the downfall of others. Go on NEXT go on

This is pure politics..... I hope Sanusi Lamido knows what he is doing cos this move is so wrong.

NEXT, you people are funny oh. So you really expected Madam to hang around and face the music? Do you know what life will be like for a 60-something year old luxury madam in a Nigerian jail cell. Madam, please dont look back, RUN!

@silence do good. 1.Well, let me declare my interest here. Apart from the fact that my youngest sister is a Branch Manager @ oceanic bank like hundreds of others, I have never met or benefited anything from the Ibru Clan. 2. You guys don't seem to get it. The colateral in most oil transactions are usually the product itself. Once you make a contribution of say 30% the lender is supposed to be adequately covered as prices shd ordinarily not fall below that margin unless there is a very abnormal situation which ordinarily shoud not manifest in the usually short circle of such transactions; b/w 30 to 90 days. This is a standard lending practice all over the world. 4. N8 billion to a poultry farmer? which farmer? were u d credit officer? what is the Transaction Dynamics? U wrote like a banker, pls give me a break. 5. Nobody has attempted to give me a valid answer to my puzzle. Are the MD's of Bank of America, Little Rock, Royal Bank of Scotland, Leyman Brothers, Merril Lynch etc all in jail or being hounded by security agents in their countries? I need more answers.

I do not see any personal attack by NEXT they are only doing what other newspapers in Nigeria are afraid to do.

He (or she) who fights and runs away, lives to fight another day.

What is all this mama, mama talk, What did she show as per Social responsibility, and am not talkng about tashere eye service donations.. was she really a woman for the poeople. Please all this relations and friends should stop posting here.

@IdiotSlayer According to ThisDay, Akingbola has left the country, not a peep about that. Why not investigate that instead of just picking on the "housewife." The article itself, after it repeats broad speculation about Mrs. Ibru's alleged attempts to flee says - "However, none of these events, widely publicised as they are, have been substantiated." Further publicizing acknowledged rumours is not fair journalism. As I said, the facts are damning enough, there is no need to add spice to the equation. I continue to appreciate the bulk of Next's coverage of the crisis, but let's leave the yellow journalism to S*itty People.

This is directed at Anthony. I wonder why something like this could come out of someone. The American Banks as we all know gave money to ordinary citizens, thousands of them though all the credits went bad. But the reverse is the case here in Nigeria, the CEOs gave money not only to some 'high class' individuals but also to themselves through manipulation of books. I don't think you know how difficult it is for a genuine small scale business man to access a loan from a NIgeian Banks. Were these monies evenly granted to people, our economy wil be better for it and the concentrated risk of giving all your money to few individual would have been averted.

Moderator, people like @ Dare shd not be allowed to post anything here? hear him '' were these monies evenly granted to people'' This is the dumbest post I have read here today. Pls delete this immediately.

thumps up sanusi!

ALL SAID AND DONE, DOES IT MEAN THAT CENTRAL BANK DID NOT RECEIVE THE FIGURES FROM OCEANIC BANK BEFORE ALLOWING THEM TO HOLD THEIR AGM? WE ARE STILL WATCHING.

Majiri, let us analyse ur arguements vis-a-vis facts on ground? Facts: 1,The crash of crude oil prices is it to the benefit of the importers of petroleum products? Has the price of these products reduced in the Nigerian market? Where are the losses from? (That will be applicable only if you talk of the upstream sector-crude oil exploration & production. In fact, such investment ideally are long-term-five to Twenty years or more.) 2,There were no corporate governance failures @ lehmans, Merill lynch etc. Sure if there were any of sorts they will be prosecuted. Remember Enron and worldcom? Speculation: Frankly, I am not sure of what is going out there, you know the usual Nigerian complex-the more you try to examine issues;the less clearly the subject matter becomes no FOI. Obviously there are lapses, as a lot of folks on this forum and others have pointed out. The issue of CBN approach is another point of discourse. The inital thoughts of any self-serving Nigerian when in dire situation is to bring in ETHINICITY to the discourse to sway people to his or her side, proven altrocities nothwithstanding. Albeit,I strongly admit that some ethnic groups are highly marginalised. Let me divulge my take on this whole issue, though this is rather premature, i am still studying the Nigerian complex. There are squabbles between the big, fat thieves and this is a way of one doing down the other,which every Nigerian should be grateful for. Remember the Ribadu issues-that he was after OBJ's enemies. But those so-called OBJ enemies are positively-confirmed corrupt, so why not? At least, fewer rogues milking the country. Think about it, you & i dont have the resources to fight these thieves, our only prayer or rather the way God will answer our prayers is for them to turn against one another. Let me offer more insight before i sign-off on this. Do you know the main sponsor of Tompolo,Government, the war-lord of Gbamaturu Kingdom? You think that man that most people think cannot hurt a fly is that docile afterall? Even if he were to be docile that woman with shrieking voice wont have any of that. Nigerians, wake up to issues going on around you...

Anthony O.has said it all..this is what our government suppose to do,not to crucify the executives of those banks.There are so many ways to kill a rat.lets just stop this trauma its affecting the economy.This people in question has done a lot through the help of the ex CBN governor Mr Soludo to revive the calamity that befall the Banking sector in the past.

@ Majiri - BOFIA and BASEL II allows for reassessment of collateral to be done at times when the collateral seems not to cover the amount involved after disbursement.ZARM POULTRY & FEED MILLS LTD was given 8,374,879,000 (naira, not cedis oo)and the loan became non-performing. There is no golden- egg-laying chicken yet in Nigeria to show for the huge amount borrowed. It appears you didn't take time to go through the list. MD's of Bank of America, Little Rock, Royal Bank of Scotland, Leyman Brothers, Merril Lynch all resigned when the bubble burst and they hadn't taken a safe risk position. Has any bank MD resigned in the past years? Or are you telling me that all these banks don't have risk management departments to tell them they had shot beyond their targets? Mama and the other 4 knew they were sitting on dynamite boxes, but they refused to resign so the banks can get help. Na only Africa I see say ppl dey die for throne, even bank MDs. You seem to have swatted away the fact that 30% of the loans went to her family as stated earlier. How about that? You seem to have waved the

...Lets help her rise again (Michael Patrick) i think i'll go wit your word bcos no body knows 2morrow and nobody knows wat all those critizing Mama does in their individual closets. lets live matter. just pray God 2 show her His infinite mercy. Mama, God will see u thru. you're a daugther of Zion.

anti majiri thank u for your civil respone. It is unNigerian to attempt to analyse issues without inputing ulterior motives. Let me respond thus: 1. Are you aware that the price of A.G.O crashed from N130 per litre or more to about N70 per litre at some point towards the last quarter of last year? The price of petrol is fixed but not so for others. NNPC still subsidize PMS but for the other products you are on your own, no cushion. The price of crude determines the price of all oil products. Again most of these products are purchased via confirmed irrevocable Letters of Credit and hence you cannot back out if prices have moved against you. If you keyed in at $575 per metric tonne and by the next day the price tumbles to $250 per metric tonne you cannot go back and negotiate. You take your loss. In the oil market, profits are usually high and losses could be mind blowing when they occur. 2. Poor Corporate governance? How? Lets be specific. Let us have the facts? U cant just say poor corporate governance and seven days after there is still no specific instance mentioned by the CBN. If the CBN can use a debtors list compiled in May 2009 to sack bank MD's two months after, what do u call that. Why shd I have faith in anything that comes from such a body.

3 things to ponder on: A.) They CEOs involved have not been proven guilty at any court of competence and are not criminals yet. CBN's actions showed some hidden agendas. I believe in a system where thorough invetsigations are conducted before making any pronounciation. It is typical of nigerian authorities to harras b4 judgement. B.) Though i am not encouraging abscondment, but with the current situation, the people in question might be victimized unnessarily even before a case is charged to court for fair hearing. One of the business guru in this country once ran away for some months during the previous administration over NITEL issues. If he hadn't, they would have destroyed his business empire all because of propaganda in high places with their EFCC watch dog! C.) I believe that mr Mallam should have applied quality wisdom (which is very expensive) in handling this matter. All he had done so far showed a fowl play. What if they had to properly investigate the case and complete all investigations so that there is no room for manipulation for other banks whose status are yet unknown. Sacking Mr. Tunde Lemo is a propaganda. He wouldn't be there to help in relevant investigation. Mr Mallam please take note; there are better ways of doing thing rather than raising unnecessary tension. I am not blaiming NEXT for anything cause their publication has raised this topic for discussion. Thank you

@Majiri, 1)pls note that the global fall in oil price has not brought about a commensurate (if any at all)fall in PMs, AGo etc in the nigerian market. So what BULLCRAP are the importers talking about as their excuse for not paying up!!! Infact, the fall in oil price has increased their profit margin(s). They (importers) were just not bothered...if they ever intended to pay.. (at least some of them) 2) For crying out loud how can we expect CBN to finish auditing all the banks before taking a decision? Sanusi's move is HIGHLY PROACTIVE cos in cases of an epidemic the first move is to quarrantine the obviously sickly and commence treatment (Biology 101) and that is what Sanusi has done in this case. 3)Since when did it become an insult or derogatory to be called a Housewife. Abeg leave NEXT alone and face the issues. Peace!

Silence Dogood 1. Reassesment of which colateral? You have attended too many risk mgt courses, pls come back to reality. 2. My argument has never been whether they shd resign but have they commited a crime for which they should b hounded into jails? D Risk Dept of HBOS advised management that all the so called derivatives they were holding were worthless papers and he was sacked for being an alarmist, does that make the MD of HBOS who is now one of Gordon Brown's top advisers a criminal?

these pipu have a bigger agenda that transcents oceanic or intercontinental you pipu are just not seeing beyond your nose the issue at hand is bigger than cecilia and the other Mds these are growing concern those pipu are always on banks books as debtors and none fo the banks av folded up wen sanusi was d MD of NAL merchant bank he had a lot of them on his books NAL never folded up rich pipu are always in debt to make more money it doesnt mean the wont pay back they are never liquid,they have so many projects ongoing what i am saying is i dnt trust sanusi the sincerity of his actions is in doubt but he was able to find very good excuse undeniable excuse to hang these pipu to and proesecute a hidden agenda lets wait and see that is my own feeling now i may be wrong but i will cross leg and watch havent we seen in the past wen banks culdnt release their audited results for two yrs or more bcos it wasnt good enough for CBN approval even at that none of such banks folded up our loan portfolio is nt good but the action taken by him is nt bcos of that abi u wan to tell me they are protecting depositors if u want to protect depositors,u wont be hasty in making decisions like that bcos it will make sure the bank collapse d same depositors they are killing with poverty with all their fraud and inhuman govt styles and policy how many times have they(the five banks)failed to meet their obligation to the depositors.it doesnt make sense to examine some banks and leave out some other ones.....it reeks of power drunk recklessness and selfish interest.in nigeria its difficult to seperate biz from politics bcos it will destroy you.

@ Majiri - Yes I think reality is that the bank needs about N450 billion to function properly, abi? Reality is that she has to approve all these loans to her cronies or else she would be hounded and jailed, abi? Reality is that the lendings in HBO went not to a select few but to anyone who merits to get a loan, abi? Reality is that if you get sacked for a good cause, you will get a better job and become a visionary when what you are raising alarm on becomes reality abi? Reality is that it is better to tow the right path and be at peace than to allow your hard earned reputation be rubbished by security operatives. Though it may sound like fiction, this is what happens when risk management recommendations are flouted. So how do I get to your reality, Majiri? A place where Investors' funds turn to tissue paper.

Thanks to Mallam Sanusi.He is a man in deed.it is wise for nigeria to come to havinf just Five Banks.What happened to mrs ibru and others will serve as deterant to other guys in banking sector.The people concern should called to order.

Thanks to Mallam Sanusi.He is a man in deed.it is wise for Nigeria to come to having just Five Banks.What happened to Mrs Ibru and others will serve as a deterant to other guys in banking sector.The people concern should be called to order.

My problem with Nigerians is that they are not worth fighing for. Can you imagine some people castigating newspapers for reporting what actually happpened unlike cooked up stories.@ Anthony like someone rightly said, mortgage loan is different from loans obtained by the Otedola's, the Dangote's among others. Mortgage loans benefit the mass majority of the people, while in the Nigerian contest, very few people (elites) are the beneficiaries of this so called non performing loans. With the comments going on here, I just wonder what will happen to any man, who take it upon himself to attempt to extricate this country from the clutches of corruption, poverty and bad government, via a revolution, becuase you people are not worth fighting for and you are likely to continue in your poverty and bad government. I shake my head

i think majiri has benefited alot from the ibru's. there is a saying that when elders see another man child misbehave and do not correct him/her. some day that child will become a terror to the society. How can one person take loans of 30% of loans advanced? For what did She use the money for? talking about corporate governance, mrs ibru surrounded herself with unqualified staff who gave her wrong advise, her children occupied sensitive positions without experience, one of her daughters after NYSC was promoted to AGM, whats that! How can she dismiss staff without disciplinary planel to hear them out. Gross abuse of Office.Lets not be selfish about this. The woman was too ambitious, Her family told her to go and look after her sick husband, she refused, wanted High society LIfe. How can we say she is an icon. Supplies of all inventories in the bank was done by her sister with inflated prices, IS THIS NOT FRAUDLENT AND A WAY TO SIPHONE DEPOSITORS FUNDS.Greed is what caught up with her. She goes about parading herself a born again, how do you reconcile personal loan of N16billion. All properties housing branches are bought in her children name, IS THIS NOT FRAUDLENT? INTURN LEASE IT AT VERY HIGH RENTALS. IS THIS NOT ANOTHER MEANS TO SIPHONE FUNDS? did all these american CEO's behave like this? Lets get professional and aviod sentiments. Next you guys are doing great. Some corrupt Nigerians dont like the truth.

I will like to say here that I live in North America in the past two years and while in Nigeria I have never shaken hands or met with any of the Ibrus (including mama) on one-on-one. No doubt Sanusi has tried but he went too far and it is difficult to think or believe that there is no hidden agenda somewhere. Let me say here that when Soludo came in and he advocated for N25 BB per bank and he gave all the financial analysis that Nigeria will be better for it, I opposed it. But most Nigerians fell for it. Soludo and Obasanjo had their reason for doing that which most Naijas did not know. I would not like to go into the reasons here. We now know better. Nothing has changed. The CEOs took advantage of Nigeria and they were not alone. Our rulers are doing the same thing. A northerner posted a comment on the 5 banks and how Sanusi resigned from UBA. This was in one of NEXT's articles last week. I made my comment too by asking him some questions and I left my e-mail address. He never replied. Finally, I will like to say that I was and still indebted to one or two banks in Nigeria based on my margin loan. We all fell for it when the stock prices were moving up. Come to think of it, I don't even bank with Oceanic.

Agalachaa must come back.

This is a good avenue to release all the tension and anger you have but I assure you a bigger story will come along and every one will forget this like a bad memory.... I atill believe in my country Nigeria!

CECILIA IBRU WAS NEVER INTERESTED IN CONVENTIONAL BANKING PRACTICES SHE WAS PURSUING CORRUPT GOVERNMENT OFFICIALS ENCOURAGING THEM TO STEAL MORE AND USING ALL KINDS OF FINANCIAL CROOKEDRY AND FRAUD TO COVER THEIR EVIL ACTIVITIES....THE WORST PART IS THAT SHE NEVER REMEMBERED THAT THE MONEY SHE WAS MAKING SHAKARA WITH WAS NOT HERS BUT THE ACCUMULATED EARNINGS OF THOUSANDS OF POOR DEPOSITORS...WHAT A HEARTLESS DEALWOMAN

I guess all Oceanic staff have being instructed to come on this blog and defend their sacked CEO....

Criminals, most bank M.D's in Nigeria. She (Mama or whatever you call her) brought her jobless younger brother from America and made him the M.D of Oceanic Homes. All they do is to rob the poor and enrich their cronies. Her relationship with the Ibori should be thoroughly investigated.

To me it is all politics.Sanusi has got his own agenda.This is an attempt to rubbish Soludo's hard work.The situation had not gone bad to the way Sanusi bloated it.It a matter of time before we realised the truth.Sanusi was too much in a haste.See the lots of mistake in debtors list.Sanusi should advise FGN to pay what is due to Transcorp for the revocation of Nitel's sales and subsequently transcorp will be able to pay the debts.

CBN should tell us what is happening to unity bank which has not made its account public for the last two years.FGN is owing Rockson engineering company that is executing power project and how can we expect this company to meet its loan obligation with these banks.FGN is owing Transcorp 51% stake in Nitel.Please can we advise CBN Governor to advise his master to pay these organisations before returning money to Treasury in December.FGN/CBN should pay contractors as at when due.Let us go to the root cause of the problems rather than running after Cecilia.Pursue the debtors,recover the money and sanusi should probe his staff on the boards of these banks. In the future the report of the examiners of these banks should be made known to the affected CEOs and ask them to defend themselves in the interest of fair play than rushing to press/public.

i wonder why oceanic bank staff should defend a woman who enslaved them to work as though they were in the farm. they should better know that GOD has delivered them from the hand of a female dictator. If she has the fear of God, will she fight with OSCAR IBRU. the first son of michael Ibru, chasing them from what their father already gave them. I think she was power drunk. I certainly know that the war is on right now in the family. Hope she knows that those militants will be ready to deal with her. The story of this woman is that of a secretary who seduced the master to sleep with her and took advantage to start bearing illegal children. How do you reconcile when she went to a pastor and was told to separate from her so called husband becos of what the bible says about taking another woman's husband, she simply refused. I think all this is mere nemesis. Hope she will be able to bear it. CBN should probe how she was able to acquire so much shares, making her the single marjority shareholder, were did she get funds from? A former HOUSEWIFE? i guess it was mere internal fraud to remain afloat, her Control department headed by maria odanmen became so devilish and powerful that they unilaterally sack any staff not on the side of ibru, what kind of bank, when human resources are mere dolls, everything about disciplinary measure is unilaterally done by so called CONTROL UNIT. They became the killer squad set up by cecilia ibru in oceanic bank. Now that EFCC invites internal auditors of five banks, lets see how her friend maria odanmen can escape it, She compromised too much, did not tell MAMA the truth as an experience auditor, therefore she should be punished along side with CECILIA. At this point i think Oscar and others should sue her to stop using Ibru as her surname. As far as they are concerned, she is not the legal wife of michael Ibru. Nigerians rise up and speak in one voice. corruption, no matter how you coin it, is BAD. We should stop supporting EVIL. Sanusi did the best for the interest of Common Nigerians who has suffered from the past mistakes. NEXT keep the flag up, dont mind pro ibru people like majiri, campaigning. Continue to spread the real news and not edited with truth hidden.

Majority of the comments make one reach the conclusion that most Nigerians are illiterate.In seeking out the EFCC and confirming that rumours of Ibru's arrest are false, it behoves on NEXT to tell us exactly what thise rumours were in the first place. And despite her status in the country, her erstwhile position and the events that led to this must be included, because this may be the first thing on the bank crisis that some people are reading. Such a balanced concise and well-written report gets bad press like this? Too bad, Nigerians, too bad!

You can RUN! but you cant HIDE!

Sanusi should learn from the recent past. Where is Ribadu, El Rufai etc He should just do his job and leave Mama Ibru alone. Face the debt issue and not Mrs Ibru. We unfortnately do not yet understand that we are now part of the global village. This is our share of the global economic melt down. I think I will stick to foreign press since our press is so far behind in understanding and analysis. Mike

PLS I WANT TO ASK U ALL A SIMPLE QUESTION? HAVE U ALL ASKED 234NEXT.COM WHY THE HYPE ABOUT CECILIA AND OCEANIC BANK. FIVE BANKS WERE INVOLVED AND THEY ARE FOCUSING ON ONLY ONE CEO AND ONE BANK. MAYBE OCEANICBANK REFUSED TO GIVE THEM(234NEXT.COM)A LOAN FACILITY. PLS LETS NOT PERSONALISE ISSUES. 234NEXT.COM PLEASE LEAVE THE WOMAN ALONE!!!!!!!!!!! SHE IS NOT THE ONLY CULPRIT, WHAT ABOUT OTHER BANK CEOS THAT WERE SACKED I.E FINBANK,INTERCONTINENTAL,AFRIBANK AND UNION BANK???

You people should the woman alone and you people know that she is a house wife and also a business woman thank you. And to EFCC you people shold leave the woman a alone.

ICARUS the answer to your question is simple: she is the noisiest of all. she was all over the place looking for attention and now she is getting it.

Mama will surely bounce back. It is only a matter of time. I will advise contributors and Next to leave her and oceanic alone. They should face more urgent issues like power, closures of industries, collapse of the educational system,fake electral system, poverty, idle legislators and a confused and inept PDP government.

you are looking for mrs ibru what of our honourable in national assembly that they are taking millions every week. please leave mama alone is a matter of game.

if the mama claims to be clean she should come out of hiding. most of the monies are return monies. most of the companies owing oceanic are onwed by the mama. some of the directors advertised are stooges and are innocent but stupid. may the mama reap the fruits of her labour both good and bad. no be curse.

I think some of us intend to remain servants to people like CECILIA, how can ICARUS be defending a woman who stole from depositors and we are saying she will bounce back. This is why corruption is high in this country. lets be focused and know what we intend to achieve in future. sanusi wants to sanitized the banking industry and some people are accusing him. Do we think that CECILIA has two heads or more intelligent than most of us. She can never bounce back, i dare anyone. She has lost all the fame, Maybe i wish ICARUS will setup a company and invite CECILIA to be CHAIRMAN. this will demarket that company seriously. A thief is a THIEF, either SMALL or BIG. they should be treated the same way. please if you know you support corruption, visit EFCC on monday to bail those CEO'S. our future is been tolled with by a few greedy NIGERIAN pen robbers. i hail 234next. Dont mind those without focus.

Jim, when a macabre cocktail of politics, business and impunity have ensured only 5 banks and a few elite debtors account for 40% of the whole country's non-performing loans, do you think none of this has an effect on power, poverty, education, infrastructure....exactly where did you leave your senses?

bill gates DROP OUT from university ... michael dell DROP OUT from university ... cecilia ibru HOUSEWIFE graduated from ... Focus should be achievements not DROP OUT and HOUSEWIFE

What went wrong in Zimbabwe? Brother Nigerians IT IS NOT HAPPENING ONLY IN NIGERIA!!! http://levi-mhaka.blogspot.com/2008/03/gideon-gono-wrong- person-for-central_10.html We got a governor who behaved like a new American president who replaces all Democratic-aligned senior staff, if he is Republican. Out went about 300 RBZ staffers through retrenchment, in comes over 3,000! We pledged him all the support until got drunk with the power and media attention (which he pays for). We did not know he will become all ministers in one. We did not know that he was a hot air balloon. We compared this new man with the previous central bank governors whom we considered dry, aloof and insensitive to the needs of the ordinary people. As a growing nation, we did not know that the position is highly conservative by nature demanding a lot of restraint in public interaction and publicity. Although the appointment is made by the office of State President, who has political interests and considerations, the position of a central bank governor is not a political one like that of a government minister, nor should it be politicised. For purposes of public integrity and credibility, the incumbent is, therefore, expected to steer clear of politics and politicians. But in Zimbabwe, we have a central bank governor who is politically charged, manipulative and who, despite half- hearted denials, obviously has an eye on political office. Speculation is rife that he plants stories in the State- owned newspapers about the risk of physical harm to both himself and his family. There have never been prosecutions following such dramatic events as the alleged arson on his farm, the hijacking of his 4x4, with his son inside. The newspapers concerned never interviewed the son, as would be expected of such a sensational story. They never followed up on the burning of the farm-house. Considering him he was not different from a corporate lawyer or accountant in a banking environment. Working as a corporate executive in an engineering firm does not make one an engineer.

Alea, abi na alele you call yourself. What kind of gibberish are you writing? This is a shoddy attempt to show off any iota of intelligence or propound a conspiracy theory. It would be laughable if not for the seriousness of the matter on the ground. GO AND TELL YOUR MAMMA CECILIA THAT THESE SMOKESCREEN ATTEMTS AT COVERING CRIMEWILL NPOT WORK THIS TIME!!NIGERIANS ARE WAKING FROM THEIR SLUMBER, THANKS TO PEOPLE LIKE NEXT!!!

i have watched and studied the way we as nigerian go about demonizing the CEO and ED of the five banks,yes these people have done something wrong but this wrong is about bad governance,bad decision no one yet has been accused of embezzling money,probably somewhere in the whole issue some collected backhand cash or some malfease so lets wait for them to be investigated and those found culprable brought to book, being an MD in a bank entails more than just keeping depositor money for them, its a business of making profits,giving interest to depositor,dividend to shareholders and because of competion within this industry it sometimes means MD's make highly risky investments in other to achieve these goals its still no excuse for what MD's did but we have more serious issues,the list of debtors are already published lets follow this with keen interest but not make it the major issue that will make or break nigeria, the nigerian society as a whole needs serious overhaulind, yes its a step in the right direction but pls stop this overfloggin of the banking issue.i don't have a full understanding of the whole financial gibberish but i see the decision of the CBN governor as one which was not well thought out,finacial institutions depend on the perception the society has about it,information determines how people perceive these institution, the CBN gov with all his education and experience should have known these and gone about the banking reforms in a different manner,com'on we have seen these same things in the current western financial system why don't we not borrow a leaf from there. well i guess we have to wait and see how things unfold this is Nigeria so we might be jubilating over the messiah to early considering how i felt about soludo's reforms.

President is a wise man, he will be able to see through the smoke screen of johnson osakpolor and like are creating here.

All thats happening now came to everyone as a surprise.but,i am going to comment in in two ways. 1,to lamido,y did he release part of the report and jurgement?i think he should hv wAITED till he finished all then break the newS toghether. 2,to the sack of CEO'S.Yare u aprticular abt Ibru,wat abt others?ANYWAY MY BELIEF IS THAT SOME PEOPLE'S PRAYERS IS BEEN ANSWERED.Y,THE RATE AT WC WORKER ARE BEEN FRUSTRATED IN OCEANIC BANK B4 THE SACK IS ALARMING.ANY MISTAKE U MAKE THAT IS REPORTED U GET SACKED,WORKING IN A FRUSTRATING ENVIROMENT,SACKING PEOPLE WTOUT THOURGH INVESTIGATION.WELL,CHANGE IS ALWAYS DIFFICULT FOR WE HUMAN BEEN BUT I AM PRAYING FOR THE BEST FOR OCEANIC STAFF,BANKING INDUSTYR AND NIGERIA AT LARGE.THE NEW MD'S GOD'S WISDOM WILL BE AVAILABLE FOR THEM.(AMEN)

Oh Boy see yans! Ya'all are "Overkilling it". Djinee & Jesse'd be proud!!!

I don't understand some contributors on this site. Why all these sentiments? As a law abiding citizen with nothing to hide, if the law says you should show yourself for some questions, why a week after you are yet to do that? Then, will it be wrong to conclude that you indeed have somethings to hide? Let Akingbola and Ibru show themselves, they have the money to hire the late Williams sef, so let them stop hiding like petty thieves and come out. Let Oceanic come and explain all the allegations of conniving with Ibori to steal Delta State money. Cecilia has been playing politics with Oceanic (other people's money), because she was a conduit for siphoning money of Delta, she was helping in running and putting forward candidates, let her come out and tell the world the allegations are not true. As for Akingbola who claims to be a Pastor, we know the average Nigerian Pastor, the private jet loving pastors, the VGC staying pastors who take from the poor and live larger than life. Let him come out of hiding and stop shouting Due Process. If he actually followed Due Process in giving out the loans the EFCC claimed he gave out, let him come. Put sentiments aside all ye commentators and face reality. Oceanic and the rest banks would have made people to commit suicide had CBN not stepped in on time.

if as much press coverage was devoted to the 16 billion dollar energy scam by now we naija wil av better power supply.......tel d F.G to do its work and stop d witch hunting.......

i like and respect this woman a lot,however i have one question if she is innocent why is she on the run???

I will answer your question Akugbe-Myers. She is on the run because her lobbyists are busy in the back now running to the presidency to lobby and plea bargain even when the matter is not in court yet. It is their usual style. At the end of the day, they will forfeit something, come out smile before newsmen and say all is well. Ask yourself, what has happened to Orji Kalu, Ibori, Igbinedion, etc cases? So, now you know why she and Akingbola are still in hiding. Yar Adua is coming back from lesser Haj today, from tomorrow, Aso Rock will be busy. I am very sure a top Pastor (you know who) will go on behalf of Akingbola and the almighty Ibori, odidigborigbo 1, WILL LEAD Cecilia's plea bargain team. He has no choice anyway. Now you know all ye people sounding off. My wife's life saving is in Oceanic, hanging on the balance. I was lucky to have seen the signs long ago. First Lady of Banking ko...

Cecilia Ibru, Cecilia Ibru, Cecilia Ibru ! How many time did l call you, nhhhh. Thrice l hear you say. Now tell me.... where did you hide all the N10 Billion DMP Funds {Directorate of Military Pension Fund} given to Oceanic bank as the Lead bank in 2002 for onward disbursement to 5 other participating to pay all the retired and retiring Ex-military officer.....Where are all this money because were told you only paid out 1.5billion so where is the 8.5 billion, please govt should investigated this because so many of my military died before and during that payment and Oceanic refuse to pay most of us and the family of the dead soldier who fought in Liberia, Sierra Leone, Sudan ETC. I watch as you bank declared billions of profit with your balance sheet showing a robust of capital reserves in billions from 2002 to 2008, whats the make up of this reserves??? Cecilia, the blood of these soldier and their family are on your neck because these people live in penury and abject poverty till date. Can Next investigate this and please NEXT continue to keep up the pace with your 'TELL IT AS IT IS JOURNALISM' You are already a household name so you dont have to impress no one. Cecilia and all Senior mgt of Oceanic bank l am waiting for your response.

Breaking news. Mrs. Ibru has reported to EFCC. shame to all of you haters

WHERE IS WALE BABALAKIN WHO BUT MENY PEOPLE IN PROBLEM BY OWN THEM MILLIONS OF NAIRA IS HE NOT IN THIS COUNTRY? LIFE MRS. IBRU ALON IF YOU CAN PEAK THIS MAN THANKS

was wale babalakin not jailed in the 9s by the failed bank tribunal, i think in connection with group bank or something? can somebody confirm to me please