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!
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