SHORT UPDATE ON NIGERIAN BANKS

Banking is about confidence and trust, therefore depositors money should be invested wisely. The turn of events in Nigeria in the past one week has really brought jittery to the hearts of bankers, a profession sought after by Nigerians. It is no longer business as usual.

The Economic and Financial Crime Commission declares wanted the former MD's of Intercontinental Bank Plc, Mr Erastus Akingbola and Oceanic Bank Plc, Mrs. Cecilia Ibru. The where about of these former bank executives cannot be ascertained yet.

Stakeholders in these banks are really angry at the turn of events, they are in support of the sacked executives, whereas public opinion is majorly in support of the Central Bank of Nigeria's Governor, Mr. Lamido Sanusi, though other say it was too hasty to sack as there are other banks yet to be audited and investigations have not being concluded.

The flamboyant lives of some of Nigeria Bank executives call for scrutiny because the convoys of MD's of banks is like that of state governors, with uniformed men and plain cloth security agents guarding them, it is also noted that there are five banks in Nigeria which the MD's have private jets though for official use but converted to part time family use. A bank has helicopter pack in one of its building in the heart of Lagos. Although Nigerians do not believe that it is actually depositors money that is providing so much luxuries for bank MD's.