The Poor State of Nigeria's Financial Institutions

It took courage of Sanusi to expose the distardly state of almost all our financial instituions. At a time when we thought the issue of unhealthy banks were over, the issue resurfaces again. The poor, incompetent and unexposed management style of our so-called bank czars has yet again raised the issue of the downgrade of merit especiually in sentive institutions like Nigeria's financial institutions. In the absence of a willingness to give local talent a fair chance, the only option left is the eventual take-over of our financial institutions by foreign banks.Another issue that is yet to be properly adressed is the role NDI OKEREKE, the NSE czar, played in this shameful situation that almost led to a systemic collapse. What teh hell was she thinking when she allowed uncontrolled and unmonitored IPOS by many banks. I gues she had her fair share of this unregulated process.The Nigerian govenrment better sit up before we are drawn back into the dark days of indebtedness. In all i praise the braveness of the CBN in bailing out our financial institutions.This discussion is to be continued. Your comments will be greatly appreciated. Thanks Gerald