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Prince
507 Posts |
 Posted - 09 Aug 2011 : 01:05:30
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Governor Sanusi, the head of Nigeria's Central Bank is at it again. After forcing several banks to restructure and jailing some bank executives, Sanusi is now nationalizing three more banks.
Trouble is, these banks have branches in Gambia, what will become of the Gambian branches? Will they go under or is the Nigerian Federal Givernment about to own a chunk of Gambia's banking industry.
Let those who know tell us...
Would any Bantaba member keep significant parts of their monies with these banks?
http://www.bbc.co.uk/news/business-14448694
http://gambia.bankphb.com/general/index.php
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buba
57 Posts |
Posted - 10 Aug 2011 : 10:59:26
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Prince,
I work for a Bank here in Gambia (not a Nigerian owned Bank). However, i can tell you that what the Governor of CBN (Central Bank of Nigeria), Mr. Sanusi did was to avoid what we call in the Banking Industry a 'systemic failure'. Put it simply, the potential collapse of many more banks as a result of one or more going under.
Regarding your second question, yes it is perfectly safe for Bantaba Members to Bank with that Bank as it is fully capitalised.However,prior to the takeover,i would not have advised anybody.
May i once again stress that i am not an employee and never had been one for Bank PHB, but i feel i should shed light on the concerns raised as a member of the Banking Fraternity and also as a registered member of this forum. |
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Prince
507 Posts |
Posted - 11 Aug 2011 : 04:29:31
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Thanks for the clarification Buba. I was a little worried that people could lose a significant part of their net worths to banks failing to adequately capitalized themselves.
quote:
However, prior to the takeover,i would not have advised anybody.
How can a man on the streets know a bank's capitalization status?
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