NDIC's clean bill of health on Nigerian banks

Posted by Olaolu on February 20, 2009 at 07:46:09:

I'm really surprised at the confidence which most Nigerian institutions still give to our economy. NDIC in a similar tactics to Soludo has declared that Nigerian banks were safe. Only time will tell how true this is really. On Soludo's case, his predictions were not exact or rather far from truht when he said that we would not be affected. Many Nigerian who still preferred to keep hold onto assets which were considered safe in cases of economic instability woke up learning that they lost millions to the global recession sweeping from the United States. Now i wonder if people would be naive again to believe any financial predictions coming from a government agency like the NDIC. We just learnt recently form the CBN that the govt does not have any fund for a bail out and i wonder where investors would run to if unfortunately, banks start collapsing. God forbid.