According to reports,the merger is as a result of the shock created in
their assets and balance sheet sizes in the face of declining oil prices.
However the names of the banks involved was not mentioned.
Does anybody know? Where are Banker BV's
*wink*
Yes I know, but I won't tell you
ReplyDeleteAmerica will know
DeleteLol.. Ade who provoked you? Pls tell us their names if you know.Hoping my bank is not among shaa.
DeleteIt may get worse!
DeleteIs not about the total numbers of banks we have in the country that matters, but their capital base and capacities. Some banks are just too poor, even before oil price fall.
DeleteIf we will only have five banks in Nigeria and effective, no p. We dont need to have 26 telecommunication companies to live well, the few we have here are effective to some extent. The same thing applies to bank.
Though in a short run many people will lose their jobs but the long run effect and benefits cannot be overlooked.
I no no the banks o....
And some shallow minds will start blaming APC. Please blame dwindling oil prices and corruption of past leadership which led to TSA.
DeleteWell, now pple will knw d bank dat is d first, no be to dey paint and recruit fine girls upandan. Old soldier never dies
DeleteWell, now pple will knw d bank dat is d first, no be to dey paint and recruit fine girls upandan. Old soldier never dies
DeleteBv cocoz should know
ReplyDeleteDear I don't know.
DeleteI'm even scared for my own bank but what I do know is that 2016 is my year of From Glory to Glory
Y'all shld correct me if I'm wrong but I feel banks merging won't affect ur funds in the affected banks.
DeleteYou shld be worried if the headline had read --- banks are about to close up/fold up.
Fcmb will be among, they transffered my account from one branch to another, so im suspecting them
DeleteI'm sure Sterling bank will be among. That bank wan die
DeleteCocoz I believe you....Chei. ...my bank o
DeleteYou're right Elena
Delete@anon 13:15 please your account is transferred from one branch to the other due to merger of branches in the same location and this doesn't mean that Fcmb is having any difficulty. Thank you
Delete@anonymous you don't know FCMB well if not you will come here to show up ignorance. That bank is as strong as any the best bank we have in Nigeria.
DeleteWhere una dey? Tell us.
ReplyDeleteWhere una dey? Tell us.
ReplyDeleteOdiegwu!!
ReplyDeleteOdiegwu! chai.. Lord help the employees of the supposed banks.. There's going to be massive sack of human personnel
DeleteSome people will still say *is this the change we voted for?*
ReplyDeleteMorenhardship as they promised us in 2016. God win
ReplyDeleteThey will merge to retrench. God save the poor.
ReplyDeleteGod should save us cos they want to add to the numbers of those job hunting
DeleteA telling you Nzube. May God help his people.
DeleteHmmmn.
ReplyDeleteThankGod i dnt hv shishi in any bank.
Lmao
DeleteWhat???
DeleteBwhahahahah hahahahahahhaah
DeleteNawa,e no go easy o.
ReplyDeleteNa wa oh. The truth is dat Nigeria started digging her own grave when it solely depended on oil. Let's take America for instance, they don't produce oil and they have crude reserve that can take them for the next 100 years. Let us look at Uae, they utilized their oil and created world trade centre. Tourism is one major income of the Emirates today.But our leaders choose their stomachs over our future.
ReplyDeleteUSA is one of the largest oil producers in the world. Please correct yourself.
DeleteU are wise.
DeleteI get your drift but just to correct a point....America produces oil even to the tune of 3MMBPD just before the price of oil crashed which was a deliberate act by OPEC to hurt the E and P business for non-opec members.
DeleteLol... Stomach infrastructure
DeleteThank you but you will be surprise that some foolhardy here will blame Buhari. Thee leaders are just bush bunch of selfish wicked people who doesn't have the heart for the nation and Nigerians in them.
DeleteNne, USAA produces crude oil.
DeleteI understand what you're talking about though.
Actually, America is set to start exporting crude for the first time in 40 years and with the sanctions lifted in Iran, we are in deep ish. I guess we have India and maybe China. Even then, if we don't take steps to diversify quickly and actively, we are screwed!
Deleteplease... USA have oil reserve.. they don't produce..... they are the major reason we are in this mess... they have been exporting oil into their country, reserving it and not using it.... then suddenly they stop importing into the country and started exporting and supplying... major issue too much petroleum in the market... waiting for opec to rationalize the amount of petroleum pumped into the market... pardon my error
DeleteUSA produces oil. Infact it is the third largest oil producer, Russia is first and Saudi Arabia second then The United States. Pls educate yourself before arguing blindly.
DeleteInstead of saying what u all don't know about the US, why don't u just Google bikonu
DeleteAnyhow u want to put it, Americans have used heir brains. Human Capital Developemnt. Brian's are used to develop the economy. We have mass cases of brain drain and lack of investment in our citizens and corrupt politicians.
DeletePlease what do u expect?
And a lot of people will be sacked!!!!!!
ReplyDeleteI will be out by then........I cannot come and go and die biko.
2016 is coming with a lot of challenges..but where there is a casting down,there will be a lifting up for us.
ReplyDeleteGEJ spoke widely about austerity measures,fuel subsidy etc. It is not a joke guys.
Investments are fast declining,foreign bodies do not want to bring more businesses,hence the frequent trips by our President.
Mr President or his campaign managers used the several woes our country was passing through to make campaign promises thinking it was child's play... the oil price,the dollar rates..these are things no president can change.
Oil prices cannot be reduced or increased by a country..
Dollar rates are affected by a lot of factors....we are plagued by terrorism..We are trading with dollars in Nigeria..Foreign investors are packing up and leaving. Who wants to be stuck in a country that has a section clamouring for another country(Biafra) or a sect churning out suicide bombers like it I going out of fashion(Boko Haram and others)
These above mentioned factors cannot be over emphasised.
Save save save! Cut down on those frivolities,except you have a tap that gushes money.
God Bless Nigeria.
Iphie dearest, you are a very intelligent woman!
DeleteU took words outta my brain. Can we be friends?
DeleteWanna start licking ur ass
Ooh iphie i could suck your pussy for this comment. You are too intelligent
DeleteIphie...
DeleteI had to read your comment twice.
*off to carpenters place to make my saving box*.
No time.
Iphie....a million likes
DeleteWise saying@iphie
DeleteThis is the most sensible comment I have read since buhari became president. Iphie u r very smart.
DeleteWell said Iphie
DeleteIntelligent analysis! Good points. If only he knew b4 making those promises. It's a difficult one for naija but God will surely see us thru.
DeleteOne line..."if dem send u to school, enter class". Iwotago!
DeleteIphie dearie...I got hot rough cake n pastries for u where do I send it to?
Happy Sunday.
I love Iphie... she is officially the smartest chic on this blog
DeleteLovely write-up madam
DeleteIphie where are thou my adrenaline gushes for smart gals lol kudos babes ¡
DeleteYes this is an intelligent woman who married an intelligent man.coz I noticed some people here don't know anything they just come here to write the dumb opinion of their boyfriends and husbands.
DeleteBest comment ever, nobody want to be associated with Nigeria except for the thieves who don't care, and almost all big countries need investors to survive. The problem of Nigeria is very very deep which can't be solve by any Govt in 4yrs, accordingto my own observation issues in Nigeria will take nothing less than 7-8yrs for Nigeria to be properly fixed with iron hand
DeleteWell stated!
DeleteIphie nwannem God bless you for this comment.
DeleteThank you, I learnt some thing new.
DeleteIt is one thing to know the truth, it is another thing entirely to admit it.
DeleteThanks Iphie for your honest and objective analysis.
Hmmm...I hope Gtb and first bank is not among oooh..I don't want story DAT touch ooh
ReplyDeleteAgain!
ReplyDeletePlease ooo Bankers in the House, I Need A Bank Job oo
ReplyDeleteGtbank takes regularly.
DeleteWill be keeping my money under my bed till they decide which banks are involved..don't want stories that touch....stella I'm back...and u must enjoy me
ReplyDeleteJuicee ChicChic,Stella u must enjoy me is back
DeleteWelcome back..
Chizoba,Ezenwanyi,Genny La baby you pple,pls show face missing your comment
Juicee ChicChic,Stella u must enjoy me is back
DeleteWelcome back..
Chizoba,Ezenwanyi,Genny La baby you pple,pls show face missing your comment
Your money is small that's why...
DeleteThanks stellamaris darling....where's mama nnuku?
DeleteWelcome bk o! Stella must enjoy you
DeleteOp rat no dey ur house sha
Deletenawa!
ReplyDeleteSPEECHLESS.....
ReplyDelete#ONE OF A DOPE..
Oghene Ose..... Nigeria is becoming something else! News have it that from January one can't use their naira atm abroad, is this fair??
ReplyDeleteIt's happening already
DeleteAlready enacted with some banks. It's so stupid because they are saying you can use your dollar denominated card but you can't find it because you can't pay money in. Crazy cos SME owners like me are suffering!!
DeleteIt's happening already oh. Almost got stranded. Smh
DeleteWatching in 3d
ReplyDeleteAmen to your prayer iphie
ReplyDeleteNice insight, 2016 requires planning and prayers
Another merge? In a space of how many years? Na wa o! Which way nigeria?
ReplyDeleteNa wa
ReplyDeleteGod watches over His own, of a truth hard times waits but God is bigger. Bubu the magician over to you.Gej failed but you won oyaaa do the do now.
ReplyDeleteBrilliant, Divine-inspired words @ Iphie dearie.
ReplyDeleteMay God direct aright out footsteps.
@ I phie dearie gud insight
ReplyDeleteThere will actually be a change of plan in 2016
God have his way
May God help us
ReplyDeleteJuicee ChicChic gud to hav u back, I missed u lyk I missed fanta Chapman of d good old days.
ReplyDeleteWit her epic signout "Stella you must enjoy me". Hahaha. Guy is cray like DAT. Welcome back Juicee.
DeleteLet some ignorant Nigerians keep blaming Buhari for the woes that befell the country. In a sane country people will take to street with serious protests calling for corrupt politicians to be arrested probed and ill gotten wealth returned to nations account. But here, we'll rather prefer to suffer and smile, support corrupt leaders just because they're from our region or religion. Point of correction @Iphie dearie GEJ was screaming austerity towards the end of his regime when his eyes got cleared. When they were busy partying he never thought of it when we were enjoying oil boom he never thought of investing and diversifying the economy.
ReplyDeleteMy people fasten your seat belts for 2016 cos it's gonna be ride.
The solution is to support the government and remember no matter how you hate the president he'll be here till 2019, shun ethnic manipulations, cut your coats according to your size and above trust in God.
Dearstan. Na siddon look I dey for this blog. People only type comments to please pea brain folks. Iphie is just playing to the gallery. All the monies and exposure we hear and see is from which government. When advice was been offered all we heard was "na our pickin or our broda". Which campaign promises. Didn't Jonathan also make fathomable promises. Listen to world news mba, read; too long or boring. Someone just typed a myopic view and you see lazy ass liking comments as if their lives depend on it.
DeleteThank you for this jare
DeleteLovelace,
DeleteMy comment was in no way political. If you have to share your view(which unfortunately you did not do) by bringing people down...that means you are immature.
Playing to the gallery for what to happen?smh!
Has that thing started again? Why so mean?
who is making comparisons here? I am sharing the information I think will help people prepare for what we are experiencing and you run in here screaming murder!
To crown it all,you go further to insult people. I have ignored you in the past,but I see that thing that happens to you in the morning decided to befall you this night!
Since you read,why the hell didn't you discuss something out of your pea sized button of a brain?
You think you know,but you know nothing! Stop hoarding knowledge. I am open to corrections,I have learnt one or two things from those people you insult.
Stop this,it doesn't become you..i have ignored you severally in the past..not anymore. In your haste to quickly perch on where you saw iphie's comment.. you quickly concurred to the fact that Gej's govt didn't try to diversify into Agriculture,and you are the genius here.
@DearStan...I don't want to know what either of them(past and recent presidents) are screaming.. I am merely concerned about citizens like you and i..We are the ones that suffer the backlash of any wrong decision or looting..
Sleep tight.
Okay how is Iphie's comment myopic! The economy is in shambles and it will only worsen before it improves which is what she basically did. How does pointing what administration did go or bad help d people of this blog who need information to make better decisions?
DeleteThe GEJ govt is dead and gone so why cry over spilt milk? The issue now should be a way for BVs to survive the impending hardship so why hit someone who's suggesting ways just to score cheap points?
We all know who amd what is responsible but now is not the time to point fingers. Its time to saddle up amd face the task of surviving this and learning from it (since we didnt learn d last time it happemed in IBB's era). It's all about the average Nigerian surviving 2016 not blaming or absolving bloody politicians.
My only problem lovelace with your comment is the 'playing to the gallery' part.
DeleteIphies comment is basic. So basic that any adult should be thinking along these lines and perhaps have even far deeper insight as to how we can remedy them.
When you get 'amazing' 'insightful,'devinely inspired thinking' as a response to that kind of comment...well I'm almost tempted to think that the problems of this country are even beyond God.
I said almost.
Saw the epistle for me. Iphie I never knew you where harboring ill feelings towards me. Do I have the monopoly to insult people. That is why I say you play to the gallery.
DeleteI guess you are the immature lady by trying to weep up sentiments. Just because I do not share your view which is shallow and myopic, you decided to show your unpoisnous fangs to rattle me. Please try harder you ain't started yet. Kindly read my comment under Stan and see why I won't go down that road again with your likes. Your view was not political, the post is what again. Trying to share what information that Nigeria is in a difficult situation caused by Buhari's campaign promises. You are concerned about the citizens indeed.
When I see a comment which is close to my view I should be crazed as you are to type the same thing. Must I post a comment just to stay relevant. In your blind fury to attack me, you typed what is not true; I perched on your comment to second your view. Where if I may ask.
I alluded to the fact that we learn everyday on this Blog. I have never portrayed my self as Mrs know it all so why would I hoard knowledge when you concluded I don't know anything. Iphie respect yourself and don't try to start something you can't handle.
The Economic situation have we not discussed it several times. Nigeria as a country is she immune to Global economic manipulations and political power play. So why will I type epistles or bore people with what they can read on their own and assimilate just to score cheap popularity. I leave such News information to Stella to post that is why we visit her blog.
Since the pea brain part is hurting you which I think you are part of,for trying to strike when there is no danger.
Eyah
ReplyDeletePls some1 shud spill the banks lemme begin to tk desperate measures b4 soap enters my eyes. I cnt shout mbok.
ReplyDeleteN0 be my m0uth una g0 hearam. But I will just abbreviate the names its up t0 u t0 dec0de. M , S , F, the rest will be t00 abvi0us.
ReplyDeleteGod please save ur children 4rm modern day hardship
ReplyDeleteYes we are in trouble economically. Banks have to merge to survive. Especially smaller banks whose capital is tied up in Nigerian investments like loans, fuel importation etc. Imagine a bank with 40bn naira capital base 2yrs ago ($266.6m @150naira to d dollar), convert same $40bn in 2015 @ 250naira to d dollar bcoms $160m. TSA account has reduced parastals hiding 45 accounts in 1 bank. Its is even better the banks merge bcos they cant afford to fail, no safety net. The govt is too broke to bail them out so they better consolidate and secure depositors funds and shareholders investment.
ReplyDeleteThere is fire in the mountain. Crude fell because OPEC & Iran felt too big to cut production when the prices started dropping after US started playing games with oil and now here we are at $40p/ barrel. Oil companies are downsizing, banks will downsize even govts (fed & state will downsize). The only safe employment now appears to be FMCGs... So far.
This what happens in a service economy like ours, importing like it's no man's business how will d Naira not depreciate? How else can u strengthen the naira except by earning more forex through exports but of course we only export oil.
He who has sense, let him tighten his belt and cut unecessary expenses. 2016 is the year of wisdom!
If your bank was affected by the TSA. You need a new bank
ReplyDeleteOk points noted
ReplyDeleteI should never have commented because Bvs should have known these basic things.
I could have seen this post and pass so I don't score "cheap points".
Maybe,i could have typed "noted" or wait,i should have consulted you for an intelligent input since mine is "basic"????
You just don't have any point to make,you are more shocked that I decided to respond today.
If after reading that simple comment I made up there,you deduced that Buhari's campaign promises caused our hardship..i seriously cannot help you there. Read that thing again,this time,remove war from your heart..remove malice.Have an open mind.
Contrary to your opinion,i don't drop comments to please anyone.
Bikonu let's merry,I am sorry Lovelace if my comment offended you,it should have,for you to refer to it as suitable for pea brained people. So sorry. Hugs?
Loll Iphie but you are PETTY sha! Lolll
DeleteWisdom really is not by age. Smh