Nigeria: Nationalised Banks - Shareholders to Sue CBN, NDIC, AMCON
Vanguard (Lagos)
August 10, 2011
The federal government's decision to take over three of the eight rescued banks has thrown the Nigerian Stock Exchange in an embarrassing situation that the shareholders of the three banks, Afribank, Bank PHB and Spring Bank are moves to bring an action against the mass of the exchange for failing to protect their investment.
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"The CBN had given September 30 to recapitalize banks, but the investing public woke up Friday to hear that the three banks were acquired ..."
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Sanusi Sanusi Lamido acting on a script written by the Islamic North Cabal (see below) and it does so as if he is the head of state in a military dictatorship. The reason he did not wait until the deadline of September 30 is illegal because he feared he was arrested. He fears that time is running against him.The president and other cabinet members can finally wake up and start asking questions.
The agenda of the Cabal
In March 2008, Mallam Bello Falalu, then CEO of Unity Bank, has acquired a reputation of a statement to the credit reported in the journal PUNCH. Mallam Bello Falalu presented a paper entitled "Nigeria: A country, four economies" a day earlier at the leadership conference organized by the newspapers of leadership in Abuja. In the document, Mr.Bello accused the West regions South and South-East of the country to control the lion's share of the economy of the nation at the expense of the North and others. NIGERIA SAYS HE would not know peace until and regional economic imbalance was canceled. He said "The South West with an area of 76,852 km square and a population of 25.2 million now owns and / or control 60 percent of the country's industrial capacity, 44 percent of banking assets, 67 percent of insurance assets and is home to the country three deep water ports of Apapa, Tin Can Island and Roro. ".
Northern Islamic hostile business environment. Sharia and ethnic cleansing drove the few thriving businesses there. The area is in such dire straits that no reasonable investor put his money there. Without a change in mentality and a setback in the Talibanization of the region, while government investment will go to a bottomless pit. In short, NORTHERN ECONOMIC sharia is a pit bottom. How then does the cabal intent to "balance the imbalance." For the construction of three sea ports, to Kano, Sokoto and Maiduguri or heavy investment in the area??. These tasks are impossible unsuccessful.
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In March 2008, Mallam Falalu Bello , the then CEO of Unity Bank , gained notoriety for a statement credited to him reported in PUNCH newspaper. Mallam Falalu Bello presented a paper titled “Nigeria: One Country, Four Economies” one day earlier at the
When the single tenure issue came to the fore, for instance, The Punch newspaper screamed on its front page of July 29, 2011: “Single tenure, not my idea – Jonathan” It transpired that what the president did was to explain how the single tenure
He was the managing director of Punch Newspaper from 1985 to 1987; the managing director of Triumph Publishing Company in Kano from 1980 to 1983; and the political editor of Daily Times Newspaper from 1973 to 1977. Adamu is a 1966 graduate of Phillips
third-largest economy, Punch reported, citing Roberts Orya, the bank's managing director. Agriculture was allocated 33 billion naira, while minerals will get 9 billion naira, with the balance allocated to services, the Lagos-based newspaper said.
'Bank PHB, Afribank, Spring Bank nationalised,' said the Nation newspaper which quoted the Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Ibrahim Umar, as saying the revocation became necessary because the affected banks had
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