CBN Sacks Nigerian Bank CEOs
Posted August 14, 2009 · Charles O
Following a report by Sahara Reports that the CBN has sacked a number of Nigerian bank CEOs, a lot of discussion arose about whether this was part of the “Northern Agenda” to witch-hunt southerners and to generally re-colonize the south. There was also a lot of general applause for CBN governor on this action…
BUT: Nigerians are incredibly apt to ask the wrong questions. The appropriate question to ask is this: Does the CBN have any statutory authority to intrude into the private sector in this manner? Unless the banks are owned by the government, how can the CBN legitimately “sack” private sector bank CEOs?
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Comments
thansk for the post! very interesting!
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This whole thing is purely political, I can bet my life on it. There is no single truth in the mouth of our so called leaders (Government), Starting from the Presidency, the Toothless Backing Dog (EFCC), Senate and every other arms of our government. If they tell you to run you should better stop, and if they tell you to stop you better run for your dear life. I’ve never seen an insecure country like Nigeria. Infact, Iraq and Afghanistan is more secure than Nigeria. In this country you are on your own, always expect the unimaginable any time. If they are telling us the truth, why leave other banks out? They are all guilty of the same offence. I pity the innocent bank CEOs.
Added by adetutu on Aug 23 at 08:20 PM