The shakeup of the last few weeks in the banking sector,has left many bewildered! Some of the noticeable giants in our banking sector were all exposed.Huge debts and according to CBN they were about to go the LEMANN BROTHER's way.
We are carefully waiting for the 'diagnosis' report of the remaining Banks (wish it be extended to he MFBs).My fear actually is that most of our major Banks are sick.Come to think of it,if Union bank-one of the older banks-is sick,then the rest of the older bank needs serious 'medical check-up and medication and I smell foul play if First Bank is giving a clean 'financial' bill!
I personally think that the financial fraud allegation leveled against Ibru and Akingbola(dunno much about Nwosu,but I do know that he worked his sock off to get finbank to the enviable height it has attained) is a big JOKE!
Yes they gave out bad loans, yes they invested in wrongs business-no thanks to the capital market downturn and global recession,but they are certainly not frauds- No Sir! And if they are guilty of any crime,then their board of Directors are certainly as guilty as they are.
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