davodyguy:
This is very wrong.

Yes, its to fight NPL, but all loans should be collateralized at the same amount borrowed.
Hence, when there's a default, the collateral can be foreclosed. This is why we have legal mortgage

Collecting collaterals will not work for all classes of loans. Collaterals in this case is also very dicey.

Moreover, CBN also debited banks for not giving out enough loans recently. I think in this light CBN should protect the banks' position by giving them this right.

mercyviv:

Try to remove him from office and see another wave of secessionists agitation by our fellow compatriots from the SE, hinging it on marginalization, lopsidedness in appointments, victimization of a certain tribe and its people etc
Meanwhile...
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Is Emefieli from Southeast? Why do you lots always involving Southeast in your misery

Good. This is how it's done in advanced world.

OLisaMacaulay:
I borrowed from palm credit I have not paid ooh, hope they will not touch my life saving

This rule was specifically made for people like you,especially those who use codes to borrow from bank thinking they can stop funding the account with the said bank and run to another bank.

davodyguy:
This is very wrong.

Yes, its to fight NPL, but all loans should be collateralized at the same amount borrowed.
Hence, when there's a default, the collateral can be foreclosed. This is why we have legal mortgage

You wrote nonsense. Collateral is not liquidity to banks. You think it's easy for banks to sell collateral to recover their money instantly. Go to AMCON website, you will see so many collateral put up for sale for several months and no buyer yet.

What is collateral? Colateral refers to assets which could be liquid or not. Cash in other banks inclusive.

davodyguy:
This is very wrong.

Yes, its to fight NPL, but all loans should be collateralized at the same amount borrowed.
Hence, when there's a default, the collateral can be foreclosed. This is why we have legal mortgage

From alot of comments above, it appears a lot of people have a criminal mindset....

So you want to borrow money without paying back....which kind of nonsense is that....Infact not just that, you have money to pay in another account but refuse to settle your debt......

Funny this is what nigerians do to each other, you borrow someone money they will refuse to payback, until the whole thing turn to fight......

TERRIBLE ATTITUDE

genkins:


Where is your location?

We are young MSC candidates in unilorin.
Check out a universal one-stop online market we have created already
www.kwarasell.com

Virus99:


Its a universal market ground.

You can buy, you can sell, book hotel, rent, rent school hostels, buy traveling and transport tickets etc.
We are focusing especially on bringing Pharmacies and Restaurants online. So people can easily buy from their favorite Pharmacies and Restaurants from their home or office. While we handle the delivery.

We also have "Konekt" where we bring skills closer to needs.
Like coming online to look for a plumber or carpenter or electrician when you need one.

And just yesterday we developed "Ktunes" and interface where people can stream and download their favorite songs and videos.

How much do u expect from a partner? And I am assuming there is going to be a need for an office space n coy reg sooner than later.

Stillthebest:


How much do u expect from a partner? And I am assuming there is going to be a need for an office space n coy reg sooner than later.

We have reg the company

And yes we partitioned about 3 rooms in our house to serve as office
Don't laugh at us
We are just young graduates trying to change the world.

OLisaMacaulay:
I borrowed from palm credit I have not paid ooh, hope they will not touch my life saving

they will quick credit is already doing it.

Virus99:


We have reg the company

And yes we partitioned about 3 rooms in our house to serve as office
Don't laugh at us
We are just young graduates trying to change the world.

Will email you.

Stillthebest:


How much do u expect from a partner? And I am assuming there is going to be a need for an office space n coy reg sooner than later.

We have perfected all plans. And in fact people are already opening shops on the site.

All we need now is to launch our App.
Get delivery means.
Employ talented and dedicated persons.

We are looking for first round of investment. So we are offering up 20% of the company. At 250 thousand for each %.

hisexcellency34:
Economy can't improve with Emefiele in charge as Governor of Central Bank. The man knows nothing like his oga at the top

it's obvious you don't know anything.

Is CBN ready for Legal implications of all these?.
Are loans,especially before this CBN directives not legally binding as you cannot change goal post in the middle of the march
This is beyond NL here,the truth be told, much as I quite agree that it is wrong to rob Peter for Paul by many unscrupulous Customers, all over the world banks are being challenged in the Court of Law.Any way,Appeal Courts and Supreme Courts-the Bars and Bench over to you.

davodyguy:
This is very wrong.

Yes, its to fight NPL, but all loans should be collateralized at the same amount borrowed.
Hence, when there's a default, the collateral can be foreclosed. This is why we have legal mortgage

You don't know what you are saying.

We are too fraudulent to be handled with kid gloves.

Why borrow from one bank and go hide your money in another bank?

This is what major businesses do and then hide behind the wall of lawyers and courtrooms.

Who needs collateral when there is adequate measure for recoup.

Lets help our economy.

KngGezy:
Hmmm

Nawa oo

Which kain policy be this nau?

I always knew that this BVN stuff is anti-business. It is not to secure funds but to further impoverish the people. A link connecting multiple accounts together. It has always got me thinking

Now the Govt started with the 2% charge on bank transactions above 500 thousand. Then this, a broad daylight robbery!

So what if I default and the little cash in my other a account is what I am using to source for funds and upkeep. Then by the time the bank takes all the money left with me. Then the reason I obtained the loan is destroyed and the bank's interest is still there.

Is that not Instant and Quick One way to Bankruptcy

Modified: A lot of things is wrong with this country. But then if you cant help alleviate the problems. Then why add to it? Toks cars are gradually becoming unaffordable for the average earner thanks to the closing of borders and imposition of taxes. New cars are dreams, only politicians, super rich and companies can afford it. Now Entrepreneurs cant find solace in bank loans, because with this loan condition The Business is Failed Ab initio (from the beginning)

If you have no integrity, then don't borrow.

It is your warped thinking that make banks put lots of road blocks in the way of honest business people.

MiztaYouneek:
Wait. It seems many members of this forum are uneducated or just lack common sense. Sometimes a lot of comments just doesn't add up to what a post is about and its usually based on condemning anything they read. I think the owner of the site and the moderators should do a better job to screen comments that are always based on unnecessary ranting.

Is there any form of development that can happen without a change in certain policies or ways of doing things. If we all stick to that particular way of life we are used to and still complain about it, then there is a change to such policy to bring development and we still complain then we the masses have a big problem being that we hardly spend time to think about the positive aspect of any new development but quickly rush to exhibit our ignorance by condemning it.

If we continue in this matter and line of thinking then I will be forced to say that we all deserve an iron hand government like this government of PMB who pushes whatever they deem fit to bring a positive development without having to listen to what the masses say because the masses say a lot of trash sometimes out of ignorance.

Thank you.

jeffizy:
This is not in the interest of the populace.

The thieving populace you mean

aybabz101:
A good one from the CBN. I passionately believe that an average Nigerian is a corrupt individual regardless of his or her status.

Most of these customers come to Bank A to seek credit advances and loans; Bank A agrees and approve the credit facility. They will then move both the loan and their savings to Bank B and neglect Bank A thereby increasing Bank A's NPL's.

Now, no such thing; with the aid of BVN and NIBSS they must repay their loans regardless of the bank they put their monies in 9ja. No more audio money......

Which bank do you work with?

Alexgeneration:
I thought these loans comes with collateral?


Or are the banks issuing loans without collateral?

Collateral is nothing in a corrupt system.

You think its easy for banks to realise a collateral on default?

The policy is perfect.

Afterall, the fintech lenders are already using BVN to fish out defaulters.

And you lot are not complaining.

Mutemenot:
The CBN also approved that the clause permitting the banks to apply this measure should be part of loan agreements to all customers.

Good measure but with the above clause, the the current defaulters won't be affected . Our banks needs more legal strength to enable them give loan easily, cos most banks are afriad of bad loans

Actually it does.

It is targeted at them.

Is there no way Seun can edit some comments before they are been posted here. Some ignorant commentors are just writing trash here.

davodyguy:
This is very wrong.

Yes, its to fight NPL, but all loans should be collateralized at the same amount borrowed.
Hence, when there's a default, the collateral can be foreclosed. This is why we have legal mortgage

this is the best way. Let bank withdraw their money and leave your balance for you.

Bluntemperor:
Is CBN ready for Legal implications of all these?.
Are loans,especially before this CBN directives not legally binding as you cannot change goal post in the middle of the march
This is beyond NL here,the truth be told, much as I quite agree that it is wrong to rob Peter for Paul by many unscrupulous Customers, all over the world banks are being challenged in the Court of Law.Any way,Appeal Courts and Supreme Courts-the Bars and Bench over to you.

Common sense.

You cannot be proven to have enough to pay back a loan and still have a point.

Once there is a law or policy, everything will fall in place.

All these court shenanigans will end.

is a simple sturv

NORSIYK:


Is Emefieli from Southeast? Why do you lots always involving Southeast in your misery

but idiotic pigs claim delta to be part of SE

MiztaYouneek:
Wait. It seems many members of this forum are uneducated or just lack common sense. Sometimes a lot of comments just doesn't add up to what a post is about and its usually based on condemning anything they read. I think the owner of the site and the moderators should do a better job to screen comments that are always based on unnecessary ranting.

Is there any form of development that can happen without a change in certain policies or ways of doing things. If we all stick to that particular way of life we are used to and still complain about it, then there is a change to such policy to bring development and we still complain then we the masses have a big problem being that we hardly spend time to think about the positive aspect of any new development but quickly rush to exhibit our ignorance by condemning it.

If we continue in this matter and line of thinking then I will be forced to say that we all deserve an iron hand government like this government of PMB who pushes whatever they deem fit to bring a positive development without having to listen to what the masses say because the masses say a lot of trash sometimes out of ignorance.

Pple get comprehension problem.
Why will u owe a bank and be keeping money in another bank with deliberate refusal to pay your debt. BVN all the way

So what if I default and the little cash in my other a account is what I am using to source for funds and upkeep. Then by the time the bank takes all the money left with me. Then the reason I obtained the loan is destroyed and the bank's interest is still there.... You av said it all.

KngGezy:
Hmmm

Nawa oo

Which kain policy be this nau?

I always knew that this BVN stuff is anti-business. It is not to secure funds but to further impoverish the people. A link connecting multiple accounts together. It has always got me thinking

Now the Govt started with the 2% charge on bank transactions above 500 thousand. Then this, a broad daylight robbery!

So what if I default and the little cash in my other a account is what I am using to source for funds and upkeep. Then by the time the bank takes all the money left with me. Then the reason I obtained the loan is destroyed and the bank's interest is still there.

Is that not Instant and Quick One way to Bankruptcy

Modified: A lot of things is wrong with this country. But then if you cant help alleviate the problems. Then why add to it? Toks cars are gradually becoming unaffordable for the average earner thanks to the closing of borders and imposition of taxes. New cars are dreams, only politicians, super rich and companies can afford it. Now Entrepreneurs cant find solace in bank loans, because with this loan condition The Business is Failed Ab initio (from the beginning)

davodyguy:
This is very wrong.

Yes, its to fight NPL, but all loans should be collateralized at the same amount borrowed.
Hence, when there's a default, the collateral can be foreclosed. This is why we have legal mortgage

Well said my brother..

Check Union Bank. De give loans to customers more than every other bank at the moment

Virus99:
We need a loan so bad for our tech startup.
We already created our web and App.

Pls I will appreciate to work with anyone. Or any info about getting a start up loan from banks or Angel investors.
Thanks.

That's the last option. No bank will run after your other bank account for a slight delay or change in circumstances beyond your control
That's after series of engagement and dialogue.