Topic: CBN Governor Sanusi is Simply creating Unemployment with his Banking Reforms

Originally Posted by Wondaboi2010

I strongly say CBN Governor Sanusi is creating more unemployment in the country with his bank reforms/ cashless society. The most recent now is acquizition of Oceanic Bank by Eco-Bank with Over 100 staffs losing their jobs. Intercontinental Bank done same same previously sacking more than 100 staffs. Where is this country heading to please?

Dude u r soo correct...couldnt agree more...d policy is rili cosin problems of unemployment in d nation. An article i reviewd about unemployment and underemployment in nigeria stated dat 3 out of every 5 graduate wif good jobs and high payin salaries r employed by d banks.

N for correction, it was 1500 dat lost deir jobs durin d access/intercontinental merger..

God help Nigeria graduates...one love!

Originally Posted by Wondaboi2010

I strongly say CBN Governor Sanusi is creating more unemployment in the country with his bank reforms/ cashless society. The most recent now is acquizition of Oceanic Bank by Eco-Bank with Over 100 staffs losing their jobs. Intercontinental Bank done same same previously sacking more than 100 staffs. Where is this country heading to please?

Dude u r soo correct...couldnt agree more...d policy is rili cosin problems of unemployment in d nation. An article i reviewd about unemployment and underemployment in nigeria stated dat 3 out of every 5 graduate wif good jobs and high payin salaries r employed by d banks. If dis stats is correct, den Naija graduates are in a more terrible situation. D CBN policy wuld make it rili difficult to get jobs in banks n dos workin dere would tend to find it hard holdin on to deir jobs cos simple mistakes culd make a bank staff face d door.

N for correction, it was 1500 dat lost deir jobs durin d access/intercontinental merger..

God help Nigeria graduates...one love!

Nigeria always luv to copy wat other nations are doing. But one thing they dont know is dat we are not only at a different level of development as those countries, the stucture of our economy and population is different from theirs. Hence, what works for them may not work for us. Its high time we start adopting policies that are suited to our the structure of our economy and population. Sanusi policies though good but are not suitable cos we have not attained the level of development needed to practice them. Hence the reason for so much job loss resulting there from.

Originally Posted by viro

Nigeria always luv to copy wat other nations are doing. But one thing they dont know is dat we are not only at a different level of development as those countries, the stucture of our economy and population is different from theirs. Hence, what works for them may not work for us. Its high time we start adopting policies that are suited to our the structure of our economy and population. Sanusi policies though good but are not suitable cos we have not attained the level of development needed to practice them. Hence the reason for so much job loss resulting there from.

u r soo rite...understandin d environment bfor implementin a policy is an essential key to development. D policy may have posotive goals bt hw well does it stand wen comparin to d negative side of it...wat i knw for good is dat a nation dat has high unemployment rate is nt doin well in any sense.

Nways God help us

And the most disturbing fact is "Nobody is checking Him". He does, implements it and gets away with it even while the negative impacts are being felt!

Have U guys heard of credit risk,do U know d consequence of big banks failing? Please,be objective n long sighted.

Had it not been for his reforms do you guys know how many banks that would have failed? Do you also know how many people would have lost their hard earned money as a result? One bad thing about us, so called educated Nigerian youths, is that we don't care to find out or do research on the pros and cons or should I say the benefits of a reform or policy before we come up to castigate because we are too, intellectually, lazy! If i may ask, how many of us read economic/finance/business journals, newspapers and listen to news? ... very few! You guys should just keep quite because you don't know anything; you don't know what is happening in the financial/banking sector of our economy. Sanusi is doing a good job.

I wonder how most people think. Had it not been for his reforms do you guys know how many banks that would have failed? Do you also know how many people would have lost their hard earned money as a result? One bad thing about us, so called educated Nigerian youths, is that we don't care to find out or do research on the pros and cons or should I say the benefits of a reform or policy before we come up to castigate because we are too, intellectually, lazy! If i may ask, how many of us read economic/finance/business journals, newspapers and listen to news? ... very few! You guys should just keep quite because you don't know anything; you don't know what is happening in the financial/banking sector of our economy. Sanusi is doing a good job. It is better for 1000 people to lose their jobs as a result of a reform than 10,000 or more people losing their jobs as a result of an entire bank failing. Imagine a big bank like UBA or FirstBank failing. Do you know how jobs would go? 'Guys make una use una head here oh.'

Originally Posted by davo3286

Had it not been for his reforms do you guys know how many banks that would have failed? Do you also know how many people would have lost their hard earned money as a result? One bad thing about us, so called educated Nigerian youths, is that we don't care to find out or do research on the pros and cons or should I say the benefits of a reform or policy before we come up to castigate because we are too, intellectually, lazy! If i may ask, how many of us read economic/finance/business journals, newspapers and listen to news? ... very few! You guys should just keep quite because you don't know anything; you don't know what is happening in the financial/banking sector of our economy. Sanusi is doing a good job.

Almighty Man, U know alot about the Banking Reforms, why don't u educate us more! But before you proceed can u tell me why despite the CBN monitoring and auditing of daily bank transactions, these banks yet fail, these banks suddenly turn weak and CBN predicts their folding up. And for your friend who mentioned Credit Risk, Has he ever heard about the word "Unemployment Rate"?
You don't go to market to buy Car tyres when u own a Keke Napep. And while these Keke works very well on the Bad roads already but u wanna change it simply cuz u saw d cars in d western world being used!

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I'm puzzled by d arguments of all and sundry,as regards CBN banking reforms.Ironically,you are all right to an extent.Altough am an advocate of Keynesian thoery,ders no hard and fast rule to economic policies.on one hand tackling youth unemployment is crucial to overcoming poverty, restoring political and social stability, and for fuelling sustainable economic development in Nigeria.The reform programme advocated by Sanusi on the other hand,rests on four cardinal point: enhancing the quality of banks, establishing financial stability, enabling healthy financial sector evolution, and ensuring the financial section contributes to the real economy.But,taking u down on memory lane,macroeconomic instability caused by large and sudden capital inflows, major failures in corporate governance at banks, lack of investor and consumer sophistication, inadequate disclosure and transparency about the financial position of banks, critical gaps in regulatory frameworks and regulations, uneven supervision and enforcement, unstructured governance and weaknesses within the CBN, and weaknesses in the business environment,were the root cause of the banking crisis.The big question now is,should AMCON be public funded?is one size fit all requirement d best for the banking industry? In summary,In my own perspective,the Government rather than Sanusi reform should be balme for unemployment in Nigeria,bcos ders neither a condusive environment nor demand-managemnt policies in dis part of d world.what we av is corruption!!!coruption!!!coruption!!.May God help us all.