Nile Commercial Bank branch manager suspended over cash shortage
By Isaac Vuni
April 29, 2009 (JUBA) — The Nile Commercial Bank (NCB) branch manger in Juba was suspended by the Government of Southern Sudan with four other officials, allegedly for pinning the bank’s money woes on senior government figures who had failed to re-pay loans.
NCB on the whole was politically initiated by the ‘New Sudan’ administration in 2003. The branch in question was established in 2007 and was linked to the Southern Sudan Legislative Assembly through a US$10 million contribution.
The bank included operations conducted through Stanbic Bank of South Africa to Kenya Commercial Bank.
The indefinite suspension derived from the Southern Sudan council of ministers’ emergency meeting held Monday over NCB’s mismanagement.
Marta Michya, the suspended branch manager, had alleged that some figures in the Government of Southern Sudan had borrowed “huge amount of money but failed to repay.”
“Hence we told our clients to wait until the borrowed money is paid back” Michya explained, adding that the money was loaned out without proper collateral.
But on Monday the council of ministers directed the governor of the Bank of Southern Sudan to audit and take necessary action to pay clients of NCB.
The announcement this month that NCB has run out of cash was seen as a clear sign of the deepening financial crisis facing the semi-autonomous region. On Monday the head of Sudan’s Assessment and Evaluation Commission, a body set up to monitor the implementation of the 2005 peace agreement and interim institutions, said “The revenue of the government in the South this year is expected to be 68% lower than last.”
(ST)
Mathiang
Nile Commercial Bank branch manager suspended over cash shortage
This is ridiculus. pure dictationship exists in southern sudan. Is the NCB manager suspended because of what ? she speaks the truth ? where is the money. The Goss is pure dictationship. my concerns why should they rushed to conclusion of suspension, is it going to solve what ? All branches of NCB are complaining that they run out of cash flow. so the Goss should first explain, where is the money ? and for God’s sake, if the manager is suspected of stealing the money than rule of the law should be applied accordingly, but the suspension will not explains where is the money in the bank ???????????????? Goss too a shame to admitted the truth. corruption is going starting from the very top upto the bottom.
Augustino
Nile Commercial Bank branch manager suspended over cash shortage
Hi, councile of ministers were where you all this time?.
your action is well appreciated all over by the south sudanese in sudan or out of sudan. we banks need tough and correct corporate governance. this is the starting point i gave a credit on this action taken against managers who took their responsinlities in granted. go ahead by punishing who bring corruptions in our nation.
we need a fresh start.
thanks
augustino in australia
Busta
Nile Commercial Bank branch manager suspended over cash shortage
NCB branch manager is fake!!!!!!!!!
How did the NCB branch Manger gave money to Government official without proper procedures. Even look at the people who are working in all NCB in Equatoria are fake as their Manger with little Education background.
Let the fake NCB manager and her husband Dinka officials go and serve their imprisonment.
Fake people of Equatoria and thievies.
Micheal Kerkuei
Nile Commercial Bank branch manager suspended over cash shortage
WHOSE MISTAKE IS IT; GOSS SENIOR FIGURES OR NCB MANAGER?
I am forced to ask the above question on hearing that the famous NCB has run out of cash. The manager of NCB is not far from the truth. There exist some shameless figures in the government of southern sudan who take public money home, but unfortunately don’t get satisfied with it. They go as far as teasing the bank managers in the name of loan.
The bank manager in this context is very right. I would publicly announce these culprits if I were him. I am at this point asking NCB manager to do so because this is costing him his job!
The bank manager should understand that his manpower is not competent enough and this could be another contributing factor to this great mess. The bank staff, unlike others, should be well-informed on their job. They should be properly trained on how to handle money in a way it does not get lost easily.
Bitten twice shy; it is high time unreliable borrowers be stopped and competent staff be sourced.
New Sudan oyee! NCB Oyee! NCB Founder Oyee!
postmortem
Nile Commercial Bank branch manager suspended over cash shortage
Suspending the branch manager is not the solution. This bank was not established with clear intentions and lacks capacity and skilled manpower to manage it til it graduates into a modern banking institution in Southern Sudan.
Very many companies in Southern Sudan are “sham” and risks winding up very soon because of poor management and clear procedures for borrowing and giving loans.
For NCB, you can shamefully see from its LOGO “NCB Guarranteeing Quality Services” and you feel a pity. Where is the quality service they preach when you cannot pay me back what I gave you to keep? You better keep your money in the house.
Every bank has the right to use money deposited in its custody but has one serious obligation to “pay its client/customer on demand of his/her money”. This is not happenning now and that is why there is a breach of that obligation and the customers can now think of going to court unless the council of ministers’ directives are effected.
I pity those creditors and shareholders who may not realise their cash and shares very soon because I am certain that this bank is lingering towards collapse as the Governor of the Bank of South sudan once said. The option is to petition the High Court for liquidation so that the court appoints a liquidator who will manage this Bank until it regains and pay back creditors by following the loans.
Share holders could also petition court for winding up so that the assets of the bank are valued and payments made to creditors and ceases to exist.
Banks giving loans and mortgages need to have clear rules and procedures to be able to regulate its business and realise profits. You need serious legal advisors to draft for you such and also to have them in the committee when deciding who should be given loan and what is he putting for the bank to rely as security bfor the loan.
The process should be transparent because this is business and the aim is to maximise profits. The whole bank needs restructuring even if it means hiring experts. It has lost credibility and it will be staggering til its collapse which is inevitable unless serious measures are taken.
Otherwise it was another experience in Southern Sudan worth undergoing post mortem analysis.
Othogomoi
Nile Commercial Bank branch manager suspended over cash shortage
shameful to hear that Governemt official took loan and cannot pay it.let them be taken to court for trial,if not be put into prison.if they are doing such things how can they administer the government
Joseph
Nile Commercial Bank branch manager suspended over cash shortage
This financial crises will show all corruption for the stander of the Government of Southern Sudan (GOSS) not Nile Commercial Bank (NCB) Alone.
I could remember when current minister of information was appointed as minister of finance he change a manager and brought a white man for contract due to this corruption and luck of experience.
This issue of Nile Commercial Bank exist since it was established, it was raise due to financial crises.
Issue of borrowing it’s there in ministry of finance, people create a project and minister usually approve and they divert the budget to their private business and no investigation.
GOSS open you eyes.
J DUOL CHOL
RED ARMY INTERNATIONAL
Nile Commercial Bank branch manager suspended over cash shortage
Indeed, it is once another shame on the Nile commercial for aquandering clients money. It is a really shame if the bank will not be able to clear the deposits of its clients before it will close down officially.
Something sticky about Nile,Goss must put in place rescuing plan to help retain jobs and spur business on all levels. This is the only Bank the people of the South Sudan has put their trust on. It is regretable. Bankruptcy is belied by long queues of clients waiting for payment. I urge the government of South Sudan to bailout the Bank and liquidated it afresh. Wise person will take to heart, the comment posted by concern citizen.
Thanks
KingTaharqa
Nile Commercial Bank branch manager suspended over cash shortage
The Africans, and specially the Sudanese People, North, South, East, and west, didn’t understand the root of all these evil that is befalling US.
The Leaders are incompetent, void of honesty, and integrity, and wisdom was not found in them.
Blood sucking VAMPIERS, steeling and feeding on blood, and the food of the poor, and the oppressed everywhere in sudan, and NO one will come to our rescue.
The governments of sudan, before, and after independance,are focused in inriching themeselves, and the thier immediate family members. They are NO Leaders, you can call them thieves with big guns the rule of law they never knew, not even at thier parents homes No Ethics, No
And you know, as we all know Our Leaders (so we call them, because we believed thier lies) HAVE NO LOVE for the People, nor for the Country. I still wonder why we Keep them. Most of our leaders need to Join El bashir in the ICC. If the head of state (Sudan, or South Sudan)(Darfur, and the Nuba are No Sudanese) based on how they divided power, and wealth only between themselves; if they can steel, then simply they can’t, and will not say, or do Nothing, just like now, and before, and will be Until we get us some new Leadership. they stole the puplic wealth, and now they are steeling private money. (they say who is going to stop us) what a shame Let them all be prosucuted
This is the people that exchanged Justice with Poly-Tricks
MY HEART GOES TO THE INNOCENT OF MY PEOPLE
But Judgement will overtake them sooner or later I Trust on Him only
Wad Juba
Nile Commercial Bank branch manager suspended over cash shortage
That is just so sad and disturbing. The suspendeding of Mrs. Martha and the other NCB officials suggests that GoSS government officials are corrupt and clearly trying to cover their own necks.
No wonder people like that fellow who got busted with 3 million at the airport in London was a GoSS official, what a shame and disgrace.
GoSS must stop using innocent civil servants as scape-goats just because they spoke out the truth and called a spade, a spade.
Cheers!
Simon Puok Nyang Tutjiek
Nile Commercial Bank branch manager suspended over cash shortage
Hello dear, what happened with that money Nile commercial bank is nothing realted to dictorship of anything related with bad government the south but there is litle thing that you people had never spoken about. The suspension of manager is a good move of rule of law to be exercise on culprite who doesn’t follow their job properly as he did. You imagine how come he gave out the whole money as a loan and he clams to be a manager,how and what kind management he had been practising so far and which school does he obtained his management?
This is totally rubish suppose not him alon to be suck,it should goes to everybody who is currently in GOSS and that is simply because some government official doesn’t know there work.They are just there by chance grafting the public funds for their own famileis, that is why they sent their child outside the country.
Thanks
Dr.wolcie
isee
Nile Commercial Bank branch manager suspended over cash shortage
The thing done is done we will get nothing on blaming this thing on this guys except learning from this is and I think many people have learned not to keep their money in the bank(that is not good lesson) now lets take yei for the moment people are really freighted by this and they don’t trust no bank and it has affected the newly opened bank KCB so that is not the point I want to talk about.
People are really suffering by this thing children are not going to school, people are hungry and many people have business collapsed and they wrote in the wall be patient. I want the GOSS to do something about the people who are suffering maybe give aid or loan so that it can pay its customers or the NCB instead of shutting the door ask for so global aid to make this thing go away cause in few days you don’t give the money to the people they will suffer more .
And people you are making this as a political thing and it is not suppose to be like this is known to be mismanagement and we off course have inexperienced people in the post this should be amended so my point is no use to cry on spilled milk and try do to some thing for the innocent people who are suffering. maybe we open an account in of the trusted bank and contribute some thing so that we can help those who have been hurt by this .