Daily Independent (Lagos)
6 November 2008
Contrary to the sanguine predictions by key market operators and government officials, the Nigerian banking and finance sector is far from being immune to the turbulence in the global financial markets.
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the cbn should set a targeted shareholders funds level for all the banks. before they can start going to town, paying out huge sums of thier profits to shareholders,as dividends, they must meet these targets, and ensure that depositors funds can be protected by their shareholders fund. how can nib of those days, make a profit, with one branch in nigeria, that first bank could not acheive with 100 branches? and nib paid out twice the shareholders funds in its first year of operations? thats bull. i am as usual, CAPITAL G.C.