Since my last letter to Prof. Charles Soludo, the governor of Central Bank of Nigeria CBN on his reformsI have approached the matters arising with the late Bola Ige's Siddon look attitude. With the reinforced backing, from his headmaster Uncle Sege on the irreversibility of the reforms. Soludo has a wide smile playing on his face these days at all functions, saying in his heart I told you I have always on very financial and economic related matter stated I am neither an expert on finance, nor an economic guru. However I am a Nigerian with COMMONSENSE and who believes that the inaction or action of those who have arrogated themselves the status of financial whizkids and economic witches have effect on the already poor masses. Since the diagnosis and prescriptive remedies of Charlie the economic pin I have watched with amusement of a deaf and dumb boy who caught his mom with a stranger on bed. When his father came home, the poor young boy was at loss as to how to effectively communicate his discoveryafter many attempts, the boy ceased trying. The father on the hand, thinking he had got the message asked his wife why she was sick and rolled all round the bed sheets without trying to get the neighbours help her get the doctor? As of today, Standard Trust Bank, Guaranty Trust, Zenith Bank, Diamond Bank, Oceanic Bank, Trade Bank and who knows next have all gone public one way or the other. This I say very mildly is a Nigerian phenomenon survival of the fittest. Dont forget the whole shares are always over subscribed. The capability of these banks to meet shareholders obligations in the forthcoming years against the backdrop of public trust and not necessarily confidence in performance is a matter rather left than discussed. To God be the glory. In the last quarter, no bank has declared a loss of any form; miracles are indeed happening the Soludo and the Nigerian way. Let me bore us. Take a look at these, Afribank ups dividend by 33.5%, Global Bank posts 949 million Naira profit, a 55% increase. Union Bank pays 15.3 billion Naira in five years. National Bank of Nigeria Ltd. profits rise by 200%. First Atlantic wins AFREXIM award. Intercontinental Bank Plc gets AA rating. Lead Bank repositions. Hallmark targets 50billion Naira shareholders fund by 2011. First Bank targets 100billion Naira shareholders fund by 2008. First Bank may acquire Lead Bank. Oceanic Banks performance tickles stockbrokers. Access Bank unveils post consolidation plan for shareholders. City Express Bank to raise 6billion Naira capital through private placement. Assurance Bank reaps fruits of restructuring, Platinum Bank strategize for consolidation. Trade Bank offer over subscribed. Painfully these success tales have not translated to any tangible positives for the Nigerian economy or the masses. I am even forced to recollect the wonder banks era. To crown these fantastic headlines, is the well-reported merger moves of Gulf Bank, Hallmark, Universal Trust, Lion Banks and All States Trust Bank to form a First Consolidated Bank. They have signed a memorandum of understanding with each presenting its books to a consortium of expert consultants for scrutiny for a period of three weeks. Its too early in the morning to say what the evening would look like. In Nigeria we are sensational people. On the pages of newspaper and on the airwaves, there is hardly any sick bank. Our insincerity is again gallantly on display. The fall of the great Savannah Bank is now history. The demise of Societe Generale Bank is a Sakaki kill, like Savannah we are told is a Jim Nwobodo crime. Several banks are having various underground problems. However each day presents another goody goody tale and offers. Like I have constantly asked will 25billion Naira recapitalisation be sufficient come December 2006, will the face of banking in Nigeria change, will the so-called Mega Banks not also become medium scale industries sooner or later. The banking space can accommodate all and sundry and still stand, with the perceived successes of most banks despite their anti 25billion Naira stance earlier is a display of our no shaking stand, a testimony to our we will overcome hymn. No one has told me that our banks have started granting loans to small-scale industries. They fast profit of the forex market is still sweet. Its far profitable to grant Mazi Galadima a multi business importer and destroyer of the economy a loan at unheard of interest rate than a poor no collateral farmer. Marketing technology in the banking sector is an issue for a day when I will not allow sleeping dogs lie. The painful life female bankers are going through is a testimony, not that I sympathize with them, as whatever one puts up with is a matter of choice. On your marks set go increase your lipsticks, let your backside roll harder and we reach compromise on my bed, I will then see how much I can assist the bank with. We shall overcome this onethat is the song on the lips of bank executives.Soludo I am yet to see your Harvard textbook theories work the magic. Nigerians are waiting to see the bank of consolidation | 
