The health of Nigerian banks and your financial security

There has been stories in the press lately and rumors in the grape vine about the insolvency of most of the nigerian banks. Surely, a strong banking system that engenders trust and confidence in market players is critical to economic growth and development . However, without transparency there can be no trust. Several questions beg for answers: how much toxic assets are on the books of nigerian banks; can we rely on their reports to determine theis health? Does the CBN have the infrastructure and political will to ensure transparency? Is there collusion between CBN and the banks?

I will be discussing these issues and more on my blog- oluomojuyigbe@blogspot.com next week. Check in and leave a comment. For now we can only guess which bank is solvent. I have made my own conjecture, I advise you do the same or better still consider using the piggy bank!