WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2011-01-04 Time: 17:00:05 Posted By: News Poster
As Nigerian banks warm up to embrace the 2011 financial year, a finance expert and shareholder activist, Alhaji Gbadebo Olatokunbo has said that the year would mark a better beginning for the proposed monoline banking in the country.
He said 2011 will be a year of repositioning and refocusing for the sector, stressing that the full attainment of the three categories of banking-international, national and regional banking would be achieved within the year, adding that the year would equally witness national economic growth.
Speaking weekend with Daily champion in a telephone interview, Olatokunbo noted that 2010 was a year of recovering from bad dreams for the financial services sector, adding that the banks are now well positioned to do business.
According to him, the monoline banking model would position Nigerian banks on a better position to do business and move the economy forward, adding that there is need for the proper regulation of banks in order to avoid a repeat of the past recorded mistakes.
He said the ongoing recapitalization may again ginger activity in the capital market, even as he noted that the stock is market gradually attaining to a new era and would normalize before the end of the year.
Daily champion recalled that within the first quarter of 2010, the Central Bank of Nigeria (CBN) had released a draft proposal of its new capital base for the three categories of banks that may be licensed for operation.
The draft proposal indicates that banks that will operate as national banks will maintain the current N25 billion minimum capital bases, while those that will operate as international banks will be required to have a minimum capital base of N 100 billion. Also, banks that would operate as regional banks will have a minimum capital base of N15 billion. According to the review proposal, regional banks will be allowed to operate within a geographical scope of a minimum of five and a maximum of 10 neighbouring states and must have the word “regional bank” added to their names.
Meanwhile, key prudential requirements of capital adequacy, minimum qualifying capital to risk weighted assets ratio is pegged at 10 per cent, with a regulatory lending limit single obligor limit of not more than 20 per cent of shareholders’ funds, SHF. For national banks, requirements permissible include taking current, savings and term deposits, provision of finance or credit facilities, dealing in foreign exchange, and acting as a settlement bank.
While regional banks may take deposits and perform the above functions, they cannot act as settlement banks. CBN’s definition of a commercial bank in the proposed arrangement is “any bank whose business includes the acceptance of deposits withdrawable by cheque (BOFIA 1991 as amended).
CBN stated in a draft circular signed by J. O. Ajewole, Ag. Director of Banking Supervision, that: “As part of its strategic initiatives for reforming the financial system to enhance the quality of banks, ensure financial system stability and promote the evolution of a healthy financial sector, the Central Bank of Nigeria, is currently reviewing the Universal Banking Policy. In this regard, a draft “Review of Universal Banking Model” is hereby released as exposure draft to the industry for comments/inputs.
According to the CBN governor, mallam Sanusi Lamido Sanusi, having a sound financial system in any country is very critical to economic growth, adding that theoretical and empirical evidences confirm that Financial Sector development is growth enhancing.
Original Source: 
Original date published: 3 January 2011
Source: http://allafrica.com/stories/201101030640.html?viewall=1