BNW

B N W: Biafra Nigeria World News

Home |   About Us |   Contact Us |   Members |   Search |   Subscribe |   Disclaimer |   THE GUARDIAN CONSCIENCE, NURTURED BY TRUTH LAGOS, NIGERIA.     Sunday, August 01 2004   news   editorial/opinion   politics & people   sports   arts   ibru center   agro care   sunday magazine   Guardian Chat Click to join the chatroom Mergers And Acquisitions (M&A;) As Creative Destruction Sir: In The Guardian Opinion Poll (GOP) on the N25 billion capitalisation for banks, an overwhelming majority of the respondents were in support of the initiative of the new CBN governor. This support mirrors the perception of banking by many ordinary Nigerians. Banks and banking, especially of the new generation hue, seem to exist only for the rich and powerful. Loan facilities are only given to people who already have connections and assets making it difficult for others to step into "Prosperity Street". The people with access to bank loans make up the clique that restrict access to economic information and collude to make profit at the expense of the general populace and economy. Critics of the governor's revolutionary initiative present a picture of scavenging, whereby big, greedy and grasping banks pick on small and weak banks in the name of Mergers and Acquisitions (M&A;). The critics accuse the governor of trying to destroy the banking industry in Nigeria. On that score, the critics are right. But M&A; is a kind of creative destruction. The type that defines the function of the undertaker, who decently buries perfumed corpses. The professor-governor has lectured Nigerians on the fact that in the end M&A; will ensure a more productive economy. Nigerians understand him and hence the overwhelming support in the GOP. *Maduabuchi Agbo, Lagos. � 2003 - 2004 @ Guardian Newspapers Limited (All Rights Reserved).  Powered by dnetsystems.net dnet�

	BNW News
Voice of Biafra | Biafra World | Biafra Online | Biafra Web | MASSOB | Biafra Forum | BLM | Biafra Consortium
	© 2001 BNW BiafraNigeriaWorld  Privacy Policy ---------------------------------------------------------------------------------- Powered by ACENetwork ----------------------------------------------------------------------------------
	Axiom PSI Yam Festival Series, Iri Ji Nd'Igbo the Kola-Nut Series,Nigeria Masterweb