Ninety-two U.S. banks have failed so far this year, while the big names, e.g. Citi, are being propped up by government's money (through a long list of monetary instruments) to stabilize their economy.
Huge non-performing loans are hurting the US banks. Same in Europe. Nigeria is no different, except for our Crab Mentality (esctacy in pulling down people at the top), and other agendas.
For the records, I support criminal/civil prosecution of bank execs, if the law has been broken. However, it appears that naija bank chiefs got caught in a worldwide frenzy.
There were numerous options open for SLS to pursue in his commendable quest to strengthen the system; but he chose the most devastating to the system. Now, naija Letters of Credit (a capstone of international trade) are a piece of junk, and it is just the beginning of the bomerang.
Radicalism suits the Boko Haram enclave, not the CBN's Governor's office.