We were told by major general buhari(MGMB) that he had to called his bank manager and immediately he was able to get the 27 million naira loan to purchase the nomination form.

Having worked in a financial institution for few yrs,i know the long process one has to pass through to obtain any form of loan,no matter who u are.

No bank in nigeria gives out loan without a decent collateral with all forms of securities to the said collateral confirmed.

We are told that buhari does nt have properties due to the fact that he isnt "corrupt"(a debatable issue).now the question is ," what tricks did he used in getting the loan from d bank and how does he intends paying back?

NB:
No bank manager can single handedly approve a loan beyond million naira.

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Ur attention are needed

He used his integrity.


"so much depends on reputation; guard it with your life"

APC and borrow borrow attitude. ....even borrow money to buy form hmmmm who go pay back, with which money?

kolawaxxy:
He used his integrity.


"so much depends on reputation; guard it with your life"

Use integrity to borrow money for bank haba Nigerians Haba.

lmao....

Integrity as a collateral

What is your bussiness on dat.

This is corruption personified for a man that claims he wants to fight corruption. A man that cannot follow due process is not fit to be a leader.

And tomorrow, we cry of failed banks. A Loan of N27m without collateral?

We need to know this bank because they can dole out N300m for his campaign without collateral.

#dorofreshair

gebest:
What is your bussiness on dat.

Don't mind them. These TANDroids are ridiculously pedestrian in thinking. When did affairs of private banks serving their customers now become an issue for the Jonathanian amebos to put their ignorant mouth into? Lest some people know it , discretionary waiving of collateral requirement is still an acceptable practice in banking. I guess every supporter of GEJ has now become the bank manger of Buhari's bank.

In every nation of the world, where there is a credit checking system in place, loans are given without collateral based on the good credit score of borrowers and ability to meet repayment. In Nigeria there is no formal system of credit scoring or credit checking in place and banks can use their discretion to honour loan request from their reputable and long-standing customers. I am just appalled by Nigerians and their penchant for mindless hatred of others to the extent they will stand logic on its head trying to look for infringements and crimes that have not been committed.

nigerianvenom:
We were told by major general buhari(MGMB) that he had to called his bank manager and immediately he was able to get the 27 million naira loan to purchase the nomination form.

Having worked in a financial institution for few yrs,i know the long process one has to pass through to obtain any form of loan,no matter who u are.

No bank in nigeria gives out loan without a decent collateral with all forms of securities to the said collateral confirmed.

We are told that buhari does nt have properties due to the fact that he isnt "corrupt"(a debatable issue).now the question is ," what tricks did he used in getting the loan from d bank and how does he intends paying back?

NB:
No bank manager can single handedly approve a loan beyond million naira.

The short answer is: NIGERIA!

The loan was given to GMB based on personal recognition...I guess personal recognition is enough collateral

Just wondering I don't pray such happens, what if the GMB kicks the bucket today what happens to the repayment of the 27million loan he collected

I guess the bank would classify the loan under bad debt, since he got it based on personal recognition...

nigerianvenom:
We were told by major general buhari(MGMB) that he had to called his bank manager and immediately he was able to get the 27 million naira loan to purchase the nomination form.

Having worked in a financial institution for few yrs,i know the long process one has to pass through to obtain any form of loan,no matter who u are.

No bank in nigeria gives out loan without a decent collateral with all forms of securities to the said collateral confirmed.

We are told that buhari does nt have properties due to the fact that he isnt "corrupt"(a debatable issue).now the question is ," what tricks did he used in getting the loan from d bank and how does he intends paying back?

NB:
No bank manager can single handedly approve a loan beyond million naira.

You claimed to have worked in a financial institution before and you don't know that the most important of the 5C's of credit to look at when considering a loan request is CHARACTER and not collateral. You really don't need to claim what you are not just because you want to malign the personality of someone else.

seunmsg:


You claimed to have worked in a financial institution before and you don't know that the most important of the 5C's of credit to look at when considering a loan request is CHARACTER and not collateral. You really don't need to claim what you are not just because you want to malign the personality of someone else.

Thank you. Discretionary approval of loans, without the demand for a collateral ,is still a valid banking practice worldwide. Yet we can trust some Nigerians to display their penchant for fraudulent behaviour which sees them arguing that the earth is flat and that babies come out of the human nose as long as such inanities fit with the agenda they are pursuing.

Is it not ridiculous some are trying to indict Buhari of wrongdoing when they do not even know, minimally, if this is an unsecured loan? Do some people appreciate that , universally, a collateral is not required for an unsecured loan? It is just troubling how some folks fail to see that they are portraying Nigerians as unintelligent m0r0ns with their attempt to establish a point which is not valid to begin with.

fitzmayowa:
The loan was given to GMB based on personal recognition...I guess personal recognition is enough collateral

Just wondering I don't pray such happens, what if the GMB kicks the bucket today what happens to the repayment of the 27million loan he collected

I guess the bank would classify the loan under bad debt, since he got it based on personal recognition...

Bro, don't let these charlatans fool you into conceding what is not even the case. They do not know the sort of loan Buhari obtained and the terms. Rightly so because Buhari does not have to explain such to anyone even as a lot of Nigerians like to overstep their boundaries and disregard limts of intrusion into the affair of others. Talks of 'collateral' is entirely misplaced because it stands to reason that Buhari obtained an unsecured loan. Worldwide, it continues to remain the case that a collateral is not required for an unsecured loan. Should Buhari then have to come out to explain the terms of his personal loan to Nigerians? Which of us is obliged to do this? Abeg some folks could go and sleep if they are jobless. This desperate attempt to paint Buhari black, with ignorant and pedestrian insinuations, is amusing to say the least.


http://www.investopedia.com/terms/u/unsecuredloan.asp

DEFINITION OF 'UNSECURED LOAN'
A loan that is issued and supported only by the borrower's creditworthiness, rather than by a type of collateral. An unsecured loan is one that is obtained without the use of property as collateral for the loan. Borrowers generally must have high credit ratings to be approved for an unsecured loan.


Also called signature loans and personal loans.

seunmsg:


You claimed to have worked in a financial institution before and you don't know that the most important of the 5C's of credit to look at when considering a loan request is CHARACTER and not collateral. You really don't need to claim what you are not just because you want to malign the personality of someone else.

My friend keep shut?
Ur character has nothing to do with getting loan from any nigerian bank,rather ur possession does.
If it was base on character, religious leaders will be first to be considered.stop writing what u know nothing about.

From my understanding
GMB uses the said bank possibly for his pension
From my little knowledge of bank load/overdraft. GMB is entitle to such money as his pension allows can be siezed and used by such bank

From my understanding*
GMB uses the said bank possibly for his pension
From my little knowledge of bank load/overdraft. GMB is entitle to such money as his pension allows can be siezed and used by such bank

seunmsg:


You claimed to have worked in a financial institution before and you don't know that the most important of the 5C's of credit to look at when considering a loan request is CHARACTER and not collateral. You really don't need to claim what you are not just because you want to malign the personality of someone else.

Your attempt to cover this fraud failed woefully. List the 5C's of credit here and you will be shocked that your man didn't meet 2 of those criteria. And Yes, Collateral is one of the C's.
Ok, Lets look at them

. Character - Integrity( Lets say he has this)
. Capacity - Sufficient cash flow(He is deficient here)
. Capital - Net worth.(He certainly doesn't have this)
. Collateral - Assets to secure the debt.()
. Conditions -

The credit process is flawed.

#dorofreshair

Ibnsultan:
From my understanding*
GMB uses the said bank possibly for his pension
From my little knowledge of bank load/overdraft. GMB is entitle to such money as his pension allows can be siezed and used by such bank

Bro, you do not even have to make this point to these ignorant TANdroids and mischief-making Jonathanians. The bank in question handle the financial affairs of GMB on behalf of GMB and not on behalf of Nairalanders or other Nigerians. The bank will be privy to the real financial standing of Buhari we all are not and that they are not at liberty to disclose to ordinary Nigerians.

If the bank, based on the information available to themas Buhari's banker, are happy to take the risk and offer GMB an unsecured private loan then what is all the noise about? This is why we still have ALUU-style summary execution of innocent Nigerians going on in our Nation i.e the sheer obtrusive savagery and malevolent ameboism of many Nigerians. I simply don't know how it is a concern for Nigerians that Buhari obtained a personal loan let alone some try to insinuate he has done wrong doing so. The heights of unrefined and uncouth behaviour.

Ibnsultan:
From my understanding*
GMB uses the said bank possibly for his pension
From my little knowledge of bank load/overdraft. GMB is entitle to such money as his pension allows can be siezed and used by such bank

Is overdraft not tied to commensurate income? How much is his monthly pension vis-a-vis N27 million naira loan? What is the tenor of the loan? And at what interest rate? Is the loan even going to be used for anything productive i.e. that will yield commensurate income?

Judging from Buhari's history, is this loan for party nomination form not akin to borrowing money for lottery? Who will pay this loan when Buhari, as expected, loses the election woefully? Is Buhari banker a cattle rearer?

This obsession with Buhari will definitely send some people to the ER.

What's your frigging matter with a purely confidential transaction between a private citizen and his bank? Na wa o.

dunkem21:
This is corruption personified for a man that claims he wants to fight corruption. A man that cannot follow due process is not fit to be a leader.

And tomorrow, we cry of failed banks. A Loan of N27m without collateral?

We need to know this bank because they can dole out N300m for his campaign without collateral.

#dorofreshair

This post smacks of ignorance. If the bank deems Buhari as a low risk customer and gives him such a loan, that is the bank's business and not yours.

This is quite different from the billion naira loans which violated CBN guidelines and bankrupted several people.

Gbawe:


Bro, you do not even have to make this point to these ignorant TANdroids and mischief-making Jonathanians. The bank in question handle the financial affairs of GMB on behalf of GMB and not on behalf of Nairalanders or other Nigerians. The bank will be privy to the real financial standing of Buhari we all are not and that they are not at liberty to disclose to ordinary Nigerians.

If the bank, based on the information available to themas Buhari's banker, are happy to take the risk and offer GMB an unsecured private loan then what is all the noise about? This is why we still have ALUU-style summary execution of innocent Nigerians going on in our Nation i.e the sheer obtrusive savagery and malevolent ameboism of many Nigerians. I simply don't know how it is a concern for Nigerians that Buhari obtained a personal loan let alone some try to insinuate he has done wrong doing so. The heights of unrefined and uncouth behaviour.

Ok o. If he didn't want our noise, he would have just kept shut with the deal with his bankers. This childish behaviour is annoying.

I hope you also keep quiet if GEJ takes unsecured loan of N1b from CBN.

#dorofreshair

Man know man method was applied! with no due process wetin be Dat corruption

[size=18pt] You are directing this to wrong audience.
BROS, GO TO THE BANK AND MAKE YOUR ENQUIRIES.[/size]

PointB:


Is overdraft not tied to commensurate income? How much is his monthly pension vis-a-vis N27 million naira loan? What is the tenor of the loan? And at what interest rate? Is the loan even going to be used for anything productive i.e. that will yield commensurate income?

Judging from Buhari's history, is this loan for party nomination form not akin to borrowing money for lottery? Who will pay this loan when Buhari, as expected, loses the election woefully? Is Buhari banker a cattle rearer?

Don't worry urself about payment. Its been taken care of. Thanks for ur Concern
#TeamGMB2015

nduchucks:


This post smacks of ignorance. If the bank deems Buhari as a low risk customer and gives him such a loan, that is the bank's business and not yours.

This is quite different from the billion naira loans which violated CBN guidelines and bankrupted several people.

How different is it from those that violated CBN guidelines?

Tell me please!

skyfall:
This obsession with Buhari will definitely send some people to the ER.

What's your frigging matter with a purely confidential transaction between a private citizen and his bank? Na wa o.

ALUU savages the lot of them. Entirely private matter between Buhari and his bank. Yet trust some Nigerians never to know their place while they go around making themselves into an obtrusive nuisance to others.

nigerianvenom:

My friend keep shut?
Ur character has nothing to do with getting loan from any nigerian bank,rather ur possession does.
If it was base on character, religious leaders will be first to be considered.stop writing what u know nothing about.

No need arguing with a daft and dull financial expert who does not even understand that character is one of the most important point to look at when considering a loan request.

@dunkem21 when considering a loan request, a customer does not have to posses all the five qualities you listed. There is an existing customer to bank relationship that plays a very key role. And like I said earlier, character is more important than collateral. How did you come to the conclusion that Buhari has no capacity to repay the loan? The banker that appraised the loan request granted it because he was satisfied that he has the capacity to pay back. I wonder why you Jonathanians are crying over this matter when the bank is not complaining.

Gbawe:


Bro, you do not even have to make this point to these ignorant TANdroids and mischief-making Jonathanians. The bank in question handle the financial affairs of GMB on behalf of GMB and not on behalf of Nairalanders or other Nigerians. The bank will be privy to the real financial standing of Buhari we all are not and that they are not at liberty to disclose to ordinary Nigerians.

If the bank, based on the information available to themas Buhari's banker, are happy to take the risk and offer GMB an unsecured private loan then what is all the noise about? This is why we still have ALUU-style summary execution of innocent Nigerians going on in our Nation i.e the sheer obtrusive savagery and malevolent ameboism of many Nigerians. I simply don't know how it is a concern for Nigerians that Buhari obtained a personal loan let alone some try to insinuate he has done wrong doing so. The heights of unrefined and uncouth behaviour.

thanks. SaTANs don't deserve our time
#TeamGMB2015
#pray for our troops

Ibnsultan:
Don't worry urself about payment. Its been taken care of. Thanks for ur Concern
#TeamGMB2015

Worry myself?
You should be worried about your bungling principal!

Buhari hadly talks, but each time he does, he shoots himself in the leg! He is more clueless than he actually looks! You folks are on a long thing selling this unlettered cattle-herder, who has no properties, to Nigerians as messiah!

dunkem21:


Ok o. If he didn't want our noise, he would have just kept shut with the deal with his bankers. This childish behaviour is annoying.

I hope you also keep quiet if GEJ takes unsecured loan of N1b from CBN.

#dorofreshair

Highly incongruous and inane comparison. Central banks do not disburse loans to individuals. GEJ can therefore not have any type of loan from the CBN. Nigeria can and that would be fine. Did Buhari go to the CBN (lenders to Government and other banks) for a loan or did he go to a Private bank which is allowed to provide unsecured loans to its customers which includes private individuals like GMB?