waice6571:
I have the opportunity of making enquires from some of this commercial banks for project sponsorship. Believe me, they lack virtually all the experties and counsels required for a start up business. But excellent in telling you your business idea can not work.

One of them told me they are not financing long term business.
I asked for clarification: she replied that, any project that falls between 2weeks and 12weeks and max 20weeks can only be considered and must be strictly trading.

I got an international funder for the project but the banks blatantly refused me BG (Bank Guarantee) citing $/# disparities as the issue.

Another funder demanded for equity participation of which, I didn't have 1/10th of it.
I went back to the bank to know what is likely to happen in case I miraculously fulfil my new founder's request.
The lady told me that, I will provide the bank with 120% of the total sum of the contract as collateral before they can take possession of the fund.
What next? Put the contract file on the shelf and hope for a brown new headway.

Nigeria banks are in to kill any business opportunity with their needless and endless policies. EXCEPT LOOTING AND STEALING BUSINESSES.

Note: some of the encounters can not be shared on a public forum for the reasons best know to me. But all true to life.

I had to check again to be sure I was not the one that wrote this.

The reality would soon set in for them though . . . actually it is already. They only finance oil cabals.

The CBN is largely to blame though.

I've since conceded all my borrowings to my foreign banks where I'm charged as low as 2-5%/annum.

And that too with the insanely epileptic xchange rates, is a trickish one.

989900:


I had to check again to be sure I was not the one that wrote this.

The reality would soon set in for them though . . . actually it is already. They only finance oil cabals.

The CBN is largely to blame though.

I've since conceded all my borrowings to my foreign banks where I'm charged as low as 2-5%/annum.

And that too with the insanely epileptic xchange rates, is a trickish one.

babdap:
If First bank goes bankrupt, I wonder what will happen to almost if not all the banks in Nigeria.

realjoker:





As expected from the sons of prediction.
This is their normal trait, wail unnecessarily, shout Daura President, just to gain cheap popularity and garner likes from their co wailers and hence paid from their paymaster.
Is not you and your wailing wailers co-mourners suffering from the hangover of an election of over a year lost that have been fighting tooth and nail calling for the devaluation of the naira with Fayose being at the helm of affairs of being the Chief Mourner?
When we were warning you wailers that many banks will pack up, many States will go bankrupt and many Firms will retrench if the Naira is devalued since many of their debts are in dollar denomination and from foreign lenders mostly eurobond, imf lond, loans from world banks which they will need extra 60% Naira to service this foreign debt you start calling BUBu Daura President, you started calling our honourable Minister
of Fin. puppet and compare her with aunty Ngozi voodoo economic who was a monumental failure and call we the patriotism citizens Zombies abi.
Now the day don done you started singing a different song and trying to shift the goal post abi.

TippyTop:
[s][/s]

You're not forced to come to the politics section, if you're tired of the bitter truth, I suggest you head over to the the Romance section.

vivalavida:


Same way u were shouting the infamous sai baba pre-election period and garnering like like it was running outta fashion.

Meanwhile it is sons of PERDITION and not PREDICTION

nwaanambra1:
like first bank like every other bank in Nigeria - they only invest where the profit will be astronomical without stress.

they all refused to invest in the youths - they all failed to encourage entrepreneurship. People with great ideas that will amount to great profits in future where denied loans. they where all interested in giving loans to mighty companies with or without insurance.

The day of reckoning is here for all the financial institutions. like the President said during inauguration - in his government, you reap what you sow, its time for hard-work to be appreciated.

First bank and the rest of them can still retrace their steps before its too late for them.

waice6571:
I have the opportunity of making enquires from some of this commercial banks for project sponsorship. Believe me, they lack virtually all the experties and counsels required for a start up business. But excellent in telling you your business idea can not work.

One of them told me they are not financing long term business.
I asked for clarification: she replied that, any project that falls between 2weeks and 12weeks and max 20weeks can only be considered and must be strictly trading.

I got an international funder for the project but the banks blatantly refused me BG (Bank Guarantee) citing $/# disparities as the issue.

Another funder demanded for equity participation of which, I didn't have 1/10th of it.
I went back to the bank to know what is likely to happen in case I miraculously fulfil my new founder's request.
The lady told me that, I will provide the bank with 120% of the total sum of the contract as collateral before they can take possession of the fund.
What next? Put the contract file on the shelf and hope for a brown new headway.

Nigeria banks are in to kill any business opportunity with their needless and endless policies. EXCEPT LOOTING AND STEALING BUSINESSES.

Note: some of the encounters can not be shared on a public forum for the reasons best know to me. But all true to life.

nwaanambra1:
like first bank like every other bank in Nigeria - they only invest where the profit will be astronomical without stress.

they all refused to invest in the youths - they all failed to encourage entrepreneurship. People with great ideas that will amount to great profits in future where denied loans. they where all interested in giving loans to mighty companies with or without insurance.

The day of reckoning is here for all the financial institutions. like the President said during inauguration - in his government, you reap what you sow, its time for hard-work to be appreciated.

First bank and the rest of them can still retrace their steps before its too late for them.

nwaanambra1:
like first bank like every other bank in Nigeria - they only invest where the profit will be astronomical without stress.

they all refused to invest in the youths - they all failed to encourage entrepreneurship. People with great ideas that will amount to great profits in future where denied loans. they where all interested in giving loans to mighty companies with or without insurance.

The day of reckoning is here for all the financial institutions. like the President said during inauguration - in his government, you reap what you sow, its time for hard-work to be appreciated.

First bank and the rest of them can still retrace their steps before its too late for them.

TippyTop:


Talking of bad luck, did you suffer like this under his administration? Buhari is bad luck personified, there's a reason God prevented him from ruling for 30yrs. We disobeyed God by voting a cattle rearer, managing the lives of his citizens like he does his cows.

waice6571:
I have the opportunity of making enquires from some of this commercial banks for project sponsorship. Believe me, they lack virtually all the experties and counsels required for a start up business. But excellent in telling you your business idea can not work.

One of them told me they are not financing long term business.
I asked for clarification: she replied that, any project that falls between 2weeks and 12weeks and max 20weeks can only be considered and must be strictly trading.

I got an international funder for the project but the banks blatantly refused me BG (Bank Guarantee) citing $/# disparities as the issue.

Another funder demanded for equity participation of which, I didn't have 1/10th of it.
I went back to the bank to know what is likely to happen in case I miraculously fulfil my new founder's request.
The lady told me that, I will provide the bank with 120% of the total sum of the contract as collateral before they can take possession of the fund.
What next? Put the contract file on the shelf and hope for a brown new headway.

Nigeria banks are in to kill any business opportunity with their needless and endless policies. EXCEPT LOOTING AND STEALING BUSINESSES.

Note: some of the encounters can not be shared on a public forum for the reasons best know to me. But all true to life.