I think its time to join the NPF, too much brain to steal

@ Safariman,
I agree with you that it will be hard to make reasonable projections in an economy like ours, but 40%  ? that's quite high. but then with the state of our economy that's justified .

for sure the police are not debt collectors and i don't understand why they are being asked to do this.

safariman

every big loan in nigeria banks is fraudlently issued becos even the loan officers that approve the loans also according to a source, take a percentage from the borrower. dont knw if this is true or not. each bank should have its own recovery department, and also should have external agencies who should be able to recover the loans on their behalf.

all banks in developed countries be it uk, america. all have recovery departments, external companies who recover debts on the behalf .

axeman85:

safariman

every big loan in nigeria banks is fraudlently issued becos even the loan officers that approve the loans also according to a source, take a percentage from the borrower. dont knw if this is true or not. each bank should have its own recovery department, and also should have external agencies who should be able to recover the loans on their behalf.

all banks in developed countries be it uk, america. all have recovery departments, external companies who recover debts on the behalf .

Those that call Yaradua clueless, for sure, know what they are talking about. The man is clueless in the right sense of the word because he continues to display his ignorance in every aspect of governance.
As you rightly pointed out each bank has a collection department that goes after the recalcitrant and intransigence borrowers. And where their efforts meet a road block, they can always farm out the collection to outside collection agencies to help recover the hardcore loans.
I do not think you have to work in the bank to know this. Besides, he (Mr. Yaraclueless) has been around for more than 50 years to know the basic banking procedures.
The collection should be left to the banks to carry out. If they lack adequate manpower to go after the debtors, they could use the help of outside collection firms to recover the loans for them. That will ensure more employment for folks who are presently unemployed.
The police have their responsibilities and functions under the constitution. It is to secure the lives and properties of the citizens. Asking the police or other security agencies to go after the debtor will create a void in the provision of security for the people. The IG has complained for the umpteenth time that his men are doing jobs for which they are not statutorily empowered to do. Mr. Yaradua should help the IG to succeed in his job.

A likely scenario:


Policeman: Chief, I be Sergeant Obinna from Panti Station

Debtor: Hey my brother, how you dey?

Policeman: I dey well sir. Na we boss send us come o. Dem say u owe intercontinental bank N5 billion naira. say make we come see u talk how you go pay back.

Debtor: heheheheheheh my brothers, no mind those useless bankers o. which yeye money? my brother make una siddon shak hennessy. I dey come (enters his bedroom)


(Sergeant Obinna giggles at Corporal Hamidu ) Olboi, this na correct man o. Make him arrange us sharp sharp. Na to enter village go complete my house o. Chai e no go better for the bank. dem wan recover money. man pikin dey roast inside sun

Hamidu: Obi, no be small tin o. chai my wives go hear am today! especially that tolotolo leg one wey no respect me. I go sack them appoint new wives! money don land!

(Chief emerges from his bedroom, brandishing a pump action gun)

AND they took to their heels

[color=#000099][/color] [b][/b]When the wise speak the fool tend to listen as the words enter thru 1 ear and escapes thru the other ear. Mrs Clinton lashes them some strokes they have tend 2 be on their toes, just watch it's only 4 a while and the acting will just vapourize.
Debt recovery indeed!!!
QUESTION: All the debt OBJ recovered 4rm SANI where is it?

Who's fooling who?
Who said people don't know who's sapping the banks dry.
Go ask the Dangotes, Andy Ubas, and Otedekos of this World. Dangote alone owes Intercontinnental #35biliion, and I heard the CEO got into trouble because he "disrepectfully" asked to be paid back.
You know the rest of the story.

Who are we kiddin' anyway?i think Yaradua meant to say EFCC and not NPF.
Anyways,me don't think anything can be recovered cos' all the debtors run the political circles.This is plain kids talk

[size=28pt]i think Yaradua meant to say EFCC and not NPF.[/size]

Na now wey I truly taya for 9ja. Everything na police? Husband and wife dey fight, na police go settle am. Child abuse story, na police. Hol am wetin u carry, na police. Vehicle particulars, road worthiness, driver license, spare tyre etc still na police, house on fire, na police AND NOW BANK LOAN RECOVERY. me still never understand wetin police got to do with debt recovery sha.

God bless Nigeria (after the death of all the corrupt leaders and followers).

AaaYyyyMenNnnnnn

I think with the new I.G, we may witness a positive change. He is under presure to perfom to merit confirmation, and he doesn't seem to have the antecedents of corrupt tendencies.

Just give the police some money, and they will do a good job, useless fools

Good job for the police. In about 6 months, another probe panel would be set up to see which police officers illegally enriched themselves from these exercise.
God bless Naija!