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  #9481 (permalink)  
Old 29th November 2012, 02:17 AM
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Default Re: The Banks

The Sun News Only 5 banks are healthy – NDIC

another panic to set in ... then, the marginal banks will become unsound! The circle never ends!
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  #9482 (permalink)  
Old 29th November 2012, 02:32 AM
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Default Re: The Banks

Strictly speaking, Imported Inflation is a Balance of Payment (BOP) issue, unrelated to Output Gap induced inflation. This distinction is important as the efficacy of monetary policy differs significantly in its attempts to address inflation depending on which of these two is identified as being the source of inflation.

CBN are apparently of the view that Imported Inflation is a BOP issue. On this ground, they aim to achieve disinflation by having a high Monetary Policy Rate (MPR) that will attract Foreign Investment Flows which could led to appreciation in the value of the Naira. There is another option available for attaining this as well i.e. the removal of CBNs Forex Monopoly, but thats a point being made weekly by LES LEBAs decade strong SAVE THE NAIRA campaign.

Being a central bank with a single mandate, inflation management, its difficult to see why CBN would pursue any other strategy in the medium term anyway. For I am sure our fellow countrymen, and their foreign colleagues and associates, at CBN are aware of the impact a high MPR has on economic growth and unemployment.

What a high MPR will continue to do is sustain our import dependent economy since it makes it difficult for us to build the capacity of our local economy to meet the aggregate demand. This point brings us back to the source of inflation in the Nigerian economy.

I think even before imported inflation, there is a core inflationary presence in our economy that is an Output Gap related issue. Where aggregate demand exceeds aggregate supply the ground is fertile for inflation. It is the unsatisfied demand that importation seeks to meet and this then exposing the economy to instances of imported inflation and BOP problems.

Resolving the Output Gap problem described above is not the work of CBN, not with its current mandate and MPR tool. These are not sufficient enough for the task. This problem requires the creation of an environment businesses can thrive in, an environment that aims to produce as much as possible locally to meet the local economys demands where it is best placed to do so and an environment that encourages investment, which is ultimately the engine of growth. CBNs can only assist in one of these with current tools, and even in that area encouraging investments, the tool is not as potent as is usually thought, look at the developed economies, near zero percent interest rates and investment growth is still negative.

In conclusion, CBN are playing a safe game. If the remit is to manage inflation, their current strategy should achieve this.
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  #9483 (permalink)  
Old 29th November 2012, 12:04 PM
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Default Re: The Banks

2 banks terminally sick - NDIC
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  #9484 (permalink)  
Old 29th November 2012, 12:11 PM
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Default Re: The Banks

Quote:
Originally Posted by solo66 View Post
Hold brake to buy bank shares be that.
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  #9485 (permalink)  
Old 29th November 2012, 01:17 PM
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Default Re: The Banks

Quote:
Originally Posted by solo66 View Post
I think NDIC is also terminally sick. Why are they reacting to a 2011 situation one year later, and publicizing it like this?
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  #9486 (permalink)  
Old 29th November 2012, 01:27 PM
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Default Re: The Banks

Quote:
Originally Posted by manemi View Post
I think NDIC is also terminally sick. Why are they reacting to a 2011 situation one year later, and publicizing it like this?
they simply do not have shame
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  #9487 (permalink)  
Old 29th November 2012, 01:35 PM
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Default Re: The Banks

Quote:
Originally Posted by SpecNomics View Post
Strictly speaking, Imported Inflation is a Balance of Payment (BOP) issue, unrelated to Output Gap induced inflation. This distinction is important as the efficacy of monetary policy differs significantly in its attempts to address inflation depending on which of these two is identified as being the source of inflation.

CBN are apparently of the view that Imported Inflation is a BOP issue. On this ground, they aim to achieve disinflation by having a high Monetary Policy Rate (MPR) that will attract Foreign Investment Flows which could led to appreciation in the value of the Naira. There is another option available for attaining this as well i.e. the removal of CBNs Forex Monopoly, but that’s a point being made weekly by LES LEBA’s decade strong SAVE THE NAIRA campaign.

Being a central bank with a single mandate, inflation management, it’s difficult to see why CBN would pursue any other strategy in the medium term anyway. For I am sure our fellow countrymen, and their foreign colleagues and associates, at CBN are aware of the impact a high MPR has on economic growth and unemployment.

What a high MPR will continue to do is sustain our import dependent economy since it makes it difficult for us to build the capacity of our local economy to meet the aggregate demand. This point brings us back to the source of inflation in the Nigerian economy.

I think even before imported inflation, there is a core inflationary presence in our economy that is an Output Gap related issue. Where aggregate demand exceeds aggregate supply the ground is fertile for inflation. It is the unsatisfied demand that importation seeks to meet and this then exposing the economy to instances of imported inflation and BOP problems.

Resolving the Output Gap problem described above is not the work of CBN, not with its current mandate and MPR tool. These are not sufficient enough for the task. This problem requires the creation of an environment businesses can thrive in, an environment that aims to produce as much as possible locally to meet the local economy’s demands where it is best placed to do so and an environment that encourages investment, which is ultimately the engine of growth. CBNs can only assist in one of these with current tools, and even in that area – encouraging investments, the tool is not as potent as is usually thought, look at the developed economies, near zero percent interest rates and investment growth is still negative.

In conclusion, CBN are playing a safe game. If the remit is to manage inflation, their current strategy should achieve this.
Please correct me if I am wrong, I am not an economist. What you are saying in English is that we cannot hold CBN accountable for the stunted growth as that state Gov wanted us to believe.

More will need to be done in the areas of making the environment conducive for investment by addressing poor infrastructures, security and corruption (Sir Nosa2 won't like this).

Money can come from anywhere, the huge investment required to get the manufacturing sector working again need not come from our local banks, so what's all this noise about high MPR discouraging lending to the real sector.

MTN and some other multinationals could afford to borrow from low interest rate economies and their investments protected by our CBN defending the naira against inflation and exchange rate risks as it does currently.
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  #9488 (permalink)  
Old 29th November 2012, 02:04 PM
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Default Re: The Banks

Quote:
Originally Posted by solo66 View Post
Even if I have my reservations about some banks in the system, I think The NDIC must be living in the backwaters of time if they used the phrase 'terminally ill' to qualify any two banks in Nigeria @ 2012. Where was this same NDIC pre-August 14, 2012?

We keep castigating SLS for rightly raising alarms, as and when necessary, only to cry wolf when there is none. We must learn to be courageous enough to say things as we see them like Sanusi does. That is the only way we can improve the state of this country called Nigeria.

Last week, I watched AIT TV "Focus Nigeria" programme where two federal paliarmentarians (one from the North and the other from the South-South) were discussing their just-concluded jamboree on constitutional amendment. It was clear, from how the two 'honourables' spoke in discordant tunes that the whole exercise is a farce. Now, if Sanusi had spoken in the open against that jamboree, people would have called him names. I expected the so-called 'Civil Society groups' of Bakare and even Soyinka to be up in arms against the waste of public funds in the name of constitution review, but it was not to happen.

Remember we have had "visions" 2000, 2005, 2010? It is now vision 2020. What about "7-point agenda"? Remember Sanusi, at his screening session in the Senate in 2009, said it was unattainable? How far now? We have come to a point of no return in the manner this nation has been mismanaged that if no had decisions are taken now, in terms of defining our road map and meticulously implementing same, this country will most likely sink even before 2020.
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  #9489 (permalink)  
Old 29th November 2012, 02:05 PM
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Default Re: The Banks

Quote:
Originally Posted by afolabi27 View Post
Please correct me if I am wrong, I am not an economist. What you are saying in English is that we cannot hold CBN accountable for the stunted growth as that state Gov wanted us to believe.

More will need to be done in the areas of making the environment conducive for investment by addressing poor infrastructures, security and corruption (Sir Nosa2 won't like this).

Money can come from anywhere, the huge investment required to get the manufacturing sector working again need not come from our local banks, so what's all this noise about high MPR discouraging lending to the real sector.

MTN and some other multinationals could afford to borrow from low interest rate economies and their investments protected by our CBN defending the naira against inflation and exchange rate risks as it does currently.
Bros,

In 1999 with the deluge of small small banks it was ok, but now with our 'mega banks' it would be a big shame if we keep going to other countries to borrow money to invest in Nigeria...haba, what would the banks be doing with money?
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  #9490 (permalink)  
Old 29th November 2012, 02:10 PM
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Default Re: The Banks

Quote:
Originally Posted by babs_o View Post
hold brake to buy bank shares be that.
w u
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  #9491 (permalink)  
Old 29th November 2012, 02:51 PM
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Default Re: The Banks

Quote:
Originally Posted by netotse View Post
Bros,

In 1999 with the deluge of small small banks it was ok, but now with our 'mega banks' it would be a big shame if we keep going to other countries to borrow money to invest in Nigeria...haba, what would the banks be doing with money?
Hmm... Total asset base of Nigerian banks = N15 - N20 trillion

Infrastructure gap in Nigeria = N120 trillion.

All the best in funding investments in Nigeria with your "mega banks".
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  #9492 (permalink)  
Old 29th November 2012, 02:52 PM
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Default Re: The Banks

Quote:
Originally Posted by Oracle View Post
w u
I know the meaning of w

There are two us. Which one? The first or second u?
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  #9493 (permalink)  
Old 29th November 2012, 03:03 PM
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Default Re: The Banks

Quote:
Originally Posted by knightofdelta View Post
I know the meaning of w

There are two us. Which one? The first or second u?
There are three Us. The first is strong but the last U was what I was referring to.
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  #9494 (permalink)  
Old 29th November 2012, 03:18 PM
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Default Re: The Banks

Quote:
Originally Posted by Oracle View Post
There are three Us. The first is strong but the last U was what I was referring to.
Are you guys talking about Wema and Unity banks
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  #9495 (permalink)  
Old 29th November 2012, 03:31 PM
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Default Re: The Banks

Quote:
Originally Posted by nosa2 View Post
Are you guys talking about Wema and Unity banks
No mind us. We just dey play mind games. I be scoffield and KOD na agent Mahone!
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  #9496 (permalink)  
Old 29th November 2012, 04:35 PM
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Default Re: The Banks

Quote:
Originally Posted by knightofdelta View Post
Hmm... Total asset base of Nigerian banks = N15 - N20 trillion

Infrastructure gap in Nigeria = N120 trillion.

All the best in funding investments in Nigeria with your "mega banks".
I wasn't trying to say the banks can fund the gap o, my point was that in 1999 banks had to have NGN2billion, in 2012 it's NGN25 billion, we should be able to do more now than we could back then, if we cant, what's the point of increasing the bases?

I'm out of my water when it comes to finance 'things' so I wont try and form like I know...

Last edited by netotse; 29th November 2012 at 04:40 PM.
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  #9497 (permalink)  
Old 29th November 2012, 05:15 PM
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Default Re: The Banks

Quote:
Originally Posted by Oracle View Post
No mind us. We just dey play mind games. I be scoffield and KOD na agent Mahone!
Who be agent Mahone? If you no careful Obatala go blast your left nyansh...
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  #9498 (permalink)  
Old 30th November 2012, 01:33 AM
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Default Re: The Banks

@afolabi27

Quote:
Please correct me if I am wrong, I am not an economist.
Mesef no be economist, nah condition dey make crayfish bend. We must understand what is going on.

Quote:
What you are saying in English is that we cannot hold CBN accountable for the stunted growth as that state Gov wanted us to believe.
Absolutely. Has SLS is recently reported to have said in the businessday online article posted in the Economicwatch thread by hispy99, the central bank is responsible for (price) stability. If we abandon that function because were pursuing somebody elses job, we will lose it.
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  #9499 (permalink)  
Old 30th November 2012, 04:29 AM
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Default Re: The Banks

CBN, banks in talks to cut charges
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  #9500 (permalink)  
Old 30th November 2012, 10:55 AM
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Default Re: The Banks

Quote:
Originally Posted by solo66 View Post
Nigerian banks are financially stable – CBN

http://www.channelstv.com/home/2012/...medium=twitter

Who is telling the truth?

Last edited by manemi; 30th November 2012 at 11:01 AM.
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