u r right though its a very effcient form of communication

we aspire to a form of a language that is so dynamic and changes everyday
while looking down on our original langauages


lol is now in the websters dico

soon some naija words will enter engrish

peteafrik88:

Nice write up... If FG go fit jux nake "Pingin" lingua franca for dis country. Easy assimilation of info will b guaranteed even in our skools...

Very detailed explanation,thanks a lot.

Knowledge is power. I now know what to explain.

entertaining =AI. educative = AA. informative = First Class. kudos@op

@OP

Well done!!! You deserve at least 30 gbosas

good

b) He has a GTB Master Card. I have one too and we use it to "do shopping" when we travel outside.
Are you by any stretch of imagination implying that he pays for a JCB or Digger with a GTB Master card?
I am talking about over [b]500,000 Pounds! [/b]Master "Debit" card is meant for small purchases, not importation of Equipments.
Such is done by "forex transfer" through a bank.

Lastpage, now you provide added information which would've been useful from the onset. I might add though that I would be amazed if your friend did succeed in purchasing up to 500,000Gbp in one fell swoop and credit same to his account for onward transfer overseas as this is in breach of CBN regulations, which you seem to know well offhand.
Largely, the post by yazmin provides the proper means through which the goods ought to be paid for. Lessons learnt .

Yazmin:

In as much as your post serms revealing, it suffers depth and critical reasoning while being highly skewed when analysed by those who know the workings of the banking system.
In Nigeria people hardly take time to read through documents before consumating transactions. Therefore they most likely would come back claiming ignorance of points clearly stated out in the documents executed. Hence the popular saying that 'if you want to hide something from a blackman, put it into writing'.
My dear friend, foreign transaction (trade) differs from local purchase in many ways.
If your friend had taken time to go through the domiciliary account form he filled to open his account, he would have cleatly read where the bank states that the customer is responsible for funding such account[/b]s by means other than 'over the counter purchase'.
If your friend wanted the bank to purchase and make payments for him, certain documents yo evidence the trade cycle are needes (form m, pro forma invoice, insurance, ccvo, nafdac or SON certificate , validated TIN e.t.c depending on the type of transaction neing carried out). With these, the bank can debit your friends naira account and settle in any currency he so wishes it to be.
Banks pays school fees on behalf of their customers month in month out in similar ways by debiring local naira and settling the school abroad in any currency without the customer looking for 'mallams' to change currencies.
[b]Depending on the mode of payment required by your friend's busines partner (either T/T or LC or ITLC), would also affect the bank's level of involvement in sourcing your foreing fumds for you.
However, you made good points here. The bank staff are meant to educate your friend on why they cannot pay straight from his account due to the duocuments he tendered while advising him to source for hard currencies from the parrarel market (if he cannot provide sufficient documentation to enable the bank buy on his behalf).
Direct involvement by the staff with these 'mallams'
Would decrease customer confidence with such bank. In most banks this is a greviuos offence punishable by dismissal as it makea the banks loose income and integrity.
You may warn such staff to desist from such actions or threaten to report him to management and you would see his response as such actions are carried out by staff for the personal kickbacks from these mallams to the detriment of the bank.
I have been in this business both as a banker and importer, and have worked closely with GTBank recently in my business (and have been so satisfoed with the international trade procedures)thus the above analysis.

Kindly desist from sentimental reportage, ask more queations, read terms and conditions better while asking for its interpretation from experts and please note that international yrafe is very complex and you may nees an expert to guide you through especially if you are new to it.
Wait until your goods get to the nigerian ports for clearing or customs part, then you would conclude that the bankers are indeed saints....lol!!!!
Peace!!!!

@Yazmin:
You are very daft, to put it mildly.
You went on a foolish, nay unsolicited "lecture" that has no bearing on what l wrote and your post is ridulled with silly conjectures and assumptions, just to make you sound intelligent.

For example;
*where did l tell you that my cousin does not have the necessary papers to back-up what he wants to pay for and why did you assume so ....just to justify this fraudulent act by bank staff?

*Again, how do you consider buying building equipments like Diggers, JCB from the U.K. ...... a LOCAL PURCHASE?
Are you high on something or what?

*Again, how does" paying for capital goods" (on a bank's customer's behalf) to be imported from the U.K translates to "funding" his domiciliary account for "expenses" like buying articles like clothing on a foreign trip?
Did you read my post at all or do you suffer major comprehension issues?

*I clearly stated in my post that "He wants the bank to do a "bank-2-bank" funds transfer as payment (l have bought vehicles and paid through my bank, from my own Domm account in the past now?) ...and here you are still making conjectures by saying "depending on how he wants the purchase funded"?
C'mmon, what exactly are you driving at?
If you are a staff of GTB and you want to come here and defend your fraudulent activities (by no means limited to GTbank alone, as almost ALL Nigerian banks undertake this "round-tripping" and it is with the knowledge of their CEO and head of Forex, as that accounts for a major part of their balance sheet) ...then come out openly instead of spewing rubbish like a dyslexic child!

*I have listened to the recordings again and no time did the bank staff complain about the documents he presented to back up his intended payments and here you are on one hand claiming he did not present documents and in the same breath saying the bank staff should have educated him that he should present the right document! How do we rate this level of deliberate stewpidity, on your part?

Finally, the part l highlighted in red ink shows that[b] you are completely naive and out of depth, about what you are talking about, assuming there are no hidden agendas in your post.[/b]
If not for anonymity on Nairaland, which l cherish very much, l would have let you in on my person and you would certainly swallow all your words.
Even when you listen to the questions l was asking the Branch manager and his staff, you will quickly understand that l have enough "working experience" in that industry and l can authoritatively tell you that l have sat at meetings where Bank CEO encourages the head of forex to channel the "officially purchased forex".... to Bureau De Change Mallams.
Both the Head of forex dept and the "Oga at the Top" you are asking me to report to, are both-in on the scam!

If you talk about "selling mint Naira Notes" to those who "resell it in the open market" for a small profit, then l can concur that, that one is limited to the level of the "cash officer and branch manager".

Please, l never asked for your advice and it is curious to see the way you are crying and bleeding over this, except you have an interest in the matter?
Maybe that is what you do in your office, right? Well, take it from me, CBN will certainly be on your neck very soon as l am going from Branch to branch, bank to bank, collecting and documenting my findings for the Apex bank.

Fold your arms, hold your breath and relax. Its not your problem ( ) so dont cry more than the bereaved.
I am not interested in your back and forth as it adds no value of any sort to the discuss because it is obvious you are either obfuscating the truth or you are clueless.
Either way, you will be wasting my time.

Lastpage!

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The job is a continous one as we distribute from Lagos (our Head Quarters) across Nigeria to our various warehouses (Abuja, Kano, Kaduna, Benue, Kogi, Imo, Akwa Ibom, Cross River, Bayelsa, Edo, Delta, Oyo, Osun, Ondo, Ekiti, Kwara, Anambra, Rivers, Ogun, etcetera).

Call: 0803-054-6462-Pastor Cyrus Jesunifemi (generalcyruss@yahoo.com) for details.

lastpage:

@Yazmin:
You are very daft, to put it mildly.
You went on a foolish, nay unsolicited "lecture" that has no bearing on what l wrote and your post is ridulled with silly conjectures and assumptions, just to make you sound intelligent.

For example;
*where did l tell you that my cousin does not have the necessary papers to back-up what he wants to pay for and why did you assume so ....just to justify this fraudulent act by bank staff?

*Again, how do you consider buying building equipments like Diggers, JCB from the U.K. ...... a LOCAL PURCHASE?
Are you high on something or what?

*Again, how does" paying for capital goods" (on a bank's customer's behalf) to be imported from the U.K translates to "funding" his domiciliary account for "expenses" like buying articles like clothing on a foreign trip?
Did you read my post at all or do you suffer major comprehension issues?

*I clearly stated in my post that "He wants the bank to do a "bank-2-bank" funds transfer as payment (l have bought vehicles and paid through my bank, from my own Domm account in the past now?) ...and here you are still making conjectures by saying "depending on how he wants the purchase funded"?
C'mmon, what exactly are you driving at?
If you are a staff of GTB and you want to come here and defend your fraudulent activities (by no means limited to GTbank alone, as almost ALL Nigerian banks undertake this "round-tripping" and it is with the knowledge of their CEO and head of Forex, as that accounts for a major part of their balance sheet) ...then come out openly instead of spewing rubbish like a dyslexic child!

*I have listened to the recordings again and no time did the bank staff complain about the documents he presented to back up his intended payments and here you are on one hand claiming he did not present documents and in the same breath saying the bank staff should have educated him that he should present the right document! How do we rate this level of deliberate stewpidity, on your part?

Finally, the part l highlighted in red ink shows that[b] you are completely naive and out of depth, about what you are talking about, assuming there are no hidden agendas in your post.[/b]
If not for anonymity on Nairaland, which l cherish very much, l would have let you in on my person and you would certainly swallow all your words.
Even when you listen to the questions l was asking the Branch manager and his staff, you will quickly understand that l have enough "working experience" in that industry and l can authoritatively tell you that l have sat at meetings where Bank CEO encourages the head of forex to channel the "officially purchased forex".... to Bureau De Change Mallams.
Both the Head of forex dept and the "Oga at the Top" you are asking me to report to, are both-in on the scam!

If you talk about "selling mint Naira Notes" to those who "resell it in the open market" for a small profit, then l can concur that, that one is limited to the level of the "cash officer and branch manager".

Please, l never asked for your advice and it is curious to see the way you are crying and bleeding over this, except you have an interest in the matter?
Maybe that is what you do in your office, right? Well, take it from me, CBN will certainly be on your neck very soon as l am going from Branch to branch, bank to bank, collecting and documenting my findings for the Apex bank.

Fold your arms, hold your breath and relax. Its not your problem ( ) so dont cry more than the bereaved.
I am not interested in your back and forth as it adds no value of any sort to the discuss because it is obvious you are either obfuscating the truth or you are clueless.
Either way, you will be wasting my time.

Lastpage!

Though you have presented salient points you do not need to descend to the name calling and insults.

rusher14:
Though you have presented salient points you do not need to descend to the name calling and insults.

My apologies.
He actually insulted me verbally in his earlier post thus l gave him a dose of his own medicine but as you rightly observed, l need not come down to that level.

Tx.

Lastpage!

lastpage:

My apologies.
He actually insulted me verbally in his earlier post thus l gave him a dose of his own medicine but as you rightly observed, l need not come down to that level.

Tx.

Lastpage!

If you read throughy post, I never threw jibes at you or your friend.
I gave version of how I go about such trade and how to tackle those bad elements in the bank.
I clearly stated what is needed for the international trade ur friend wanted, I doubt I made reference to his trade as a local one as posited by you.
Wish you best in your trade.....but me daft Come down to my level.... Quite funny dou.
Not to shout my praises, online forums actually does disguise identities. I pray meet physically someday so i could host you for just a day or two in Nigeria.
Peace bro.....peace!!!!

Just wanted to offer some clarifications as regards the so called scam that you reported in your earlier post vis a vis Yazmin's input.

Bottom line is that your friend cannot do that transaction over the counter (aside the fact that he is personally responsible for the funding of his dorm account).

It is surprising that your friend wanted to do that volume of transaction without know the proper channel to take. He was trying to import goods into the country and would need to do proper documentation (Form M et al) through the bank.
The bank will handle the entire transaction (including moving the funds to pay abroad) but the bank must show (CBN) proof of how the forex was spent otherwise they will be in trouble with the CBN.

Paying mortgage abroad is even simpler than buying goods, yet no bank will use the bank's forex to make payment for anybody until you complete the required doumentation.

The mallam part is the only sore point because the bank should have left your friend alone after providing the requirements to handle his transaction. It does not mean the bank has a business relationship with the mallam, that arranagement exist due to the peculiarity of our situation. Some of us would not like to go buy fake forex from one mallam in town, we prefer those known by the bank where we don't even handle the money lest it is fake.

lastpage:

My apologies.
He actually insulted me verbally in his earlier post thus l gave him a dose of his own medicine but as you rightly observed, l need not come down to that level.

Tx.

Lastpage!