Nigerian Times

Nigeria: Apex Bank Chief is Man of the Year    Mr. Sanusi Lamido Sanusi , the fearless governor of the Central Bank of Nigeria (CBN) has been named the Man of the Year by Nigerians Report , the premier news blog of the most populous country in Africa. Nigerians Report described Mr. Sanusi as “A ‘sanitary officer’ to bank on for cleansing the stench in our banking stables” and commended him for his laudable sanitization of the Nigerian banking industry; for having the conscience to do the right thing which his predecessor, Mr. Chukwuma Soludo failed to do; particularly the sacking of corrupt CEOs and executive directors of mismanaged banks.  Mr. Sanusi’s disclosures of the sharp practices by Nigerian banks rattled the general public, embarrassed the bankers and disgraced the celebrated billionaires as big debtors siphoning millions of dollars as loans to enrich themselves and many of the banks were rendered insolvent.  The erudite risk management expert is se...

3 Nov 2011 11:04 Africa/Lagos Big Banks at Risk on "Bank Transfer Day" New data from The Harris Poll shows that Big Banks could learn from credit unions on delivering an exceptional customer experience PR Newswire NEW YORK, Nov. 3, 2011 NEW YORK, Nov. 3, 2011 /PRNewswire/ -- Big Banks may be vulnerable to losing customers to credit unions on November 5th, Bank Transfer Day, where according to social media, tens of thousands have signed up to drop Big Banks in favor of joining a credit union. While credit unions enjoy best in class customer retention rates (87% Extremely/Very Likely to Continue), the nation's largest banks fail to engender the same degrees of loyalty from their customers. For example, only two in five of Bank of America's customers are extremely or very likely to continue (40%), as are less than half of JP Morgan Chase's customers (46%) and just over half of Wells Fargo/Wachovia's customers (54%). (Logo: http://photos.prnewswire.com/prnh/201005...

20 Sep 2011 15:35 Africa/Lagos Survey Indicates Banks Are Starting to Recover Crowe Horwath LLP releases findings from its 2011 Financial Institutions Compensation survey PR Newswire OAK BROOK, Ill., Sept. 20, 2011 OAK BROOK, Ill., Sept. 20, 2011 /PRNewswire/ -- Shifting priorities, modest salary increases and even rising turnover are all indicators that banks are beginning to recover from the recent economic downturn, as reported in Crowe Horwath LLP's 2011 Comprehensive Financial Institution Compensation Survey. In 2011, the average salary increase for officers and non-officers was 2.4 percent. (Logo: http://photos.prnewswire.com/prnh/20090902/CL69632LOGO ) The survey, which compiled data from 280 U.S. financial institutions, is conducted annually by Crowe, one of the largest public accounting and consulting firms in the U.S. Now in its 30th year, the survey found the top human resource priorities for the year are retaining employees, developing employees and motivating better ...

The World Bank has noted that Nigeria is at a crossroads in a special Growth Employment and Markets in States (GEMS) Project report. The country can choose to tackle the distortions that have reduced incentives for investment and productive activity and move towards sustainable and diversified growth. It can also build on islands of success and promising cluster initiatives and enclaves that can then pull along the rest of the economy (successfully achieved in China and India) or it can ignore the reform imperatives and pay the price of having a highly distorted, rentier economy, once oil prices fall. Click here for the full report Tweet

In loving memory of Tayo Aderinokun.the MD/CE of the Guaranty Trust Bank Plc who passed on to eternal glory on Tuesday June 14, 2011, in a Hospital in London, U.K. The Economics of Nigerian Film, Art and Business ~ by Tayo Aderinokun The world has continued to marvel at how Nigerians "manufacture" and "fabricate" scores of movies in a week. It is reported that but for India, Nigeria produces more movies in quantitative terms than any other country in the world. As joint stakeholders in the development of our motherland, I hope that my presentation today on the "social economics" of the movie industry will provoke processes that could move the industry forward. In the course of this presentation, I will be inviting you to join me as we journey through the past, the present and the future of the Nigerian film industry. There is a saying that today is tomorrow’s yesterday, in other words, where we are today is a reflection of our past and a foreshadow of our...

President Umaru Musa Yar'Adua of Nigeria I have decided to support the decision of President Umaru Musa Yar'Adua to put an end to illegal oil bunkering in Nigeria and stop the loss of over $20 million illegal crude stolen from Nigeria each day. But the Alhaji Umaru Yar'Adua must be ready to prosecute the trial of the criminals who are engaged in the blood oil trade from the Niger Delta to Abuja. Oil Rig in Nigeria We know the oligarchy that is responsible for this oilgate. They are both in the public sector and private sector. Many of them are in the Nigerian Armed Forces and the ruling People's Democratic Party (PDP) of President Umaru Musa Yar'Adua and many of them are on the Boards of Directors of the leading banks in Nigeria. I am ready to expose them, but Let him be ready to sack them and arrest them for public trial. Enough is enough!

What Did You Achieve For The Benefit Of Nigeria In 2007? What did you achieve for the benefit of Nigeria and the rest of the World in 2007? This question is directed at all Nigerians. As the year 2007 ends, it is only natural to reflect on what happened in your life and the lives of others in Nigeria and the rest of the world. How did you fare as a citizen of Nigeria? My focus is not on how much money you made for yourself or your family, but how much contributions you made for the benefit of your community and the rest of humanity. Greediness is actually the root of corruption the cankerworm of destruction that has made Nigeria one of the most corrupt and poorest countries on earth. The acquisition of status symbols of luxury and prestige are not achievements for the benefit of Nigerians, because they do not contribute to the development and advancement of Nigeria. They are just your own trophies and you can celebrate them nevertheless, but if they are not important, relevant, and sig...