So sad.. I am about go start a career in a certain bank. Being apprehensive already.. Please which other career paths can I redirect to?...

oscar_XXX: So sad.. I am about go start a career in a certain bank. Being apprehensive already.. Please which other career paths can I redirect to?...

u dont need to be sad, the key thing is for u to have a target on when to leave but the earlier the better. what are the skills that u acquire in a bank that would be required in any other industry, answer is non. in banking u either work in operations or marketing. in marketing u just go about running after other peoples money and when u achieve a set target, the goal post is shifted. operations all u do is post credit and debit on a software that a primary six student could do if taught or coached. the other areas in banking include auditors /control, IT, etc

oscar_XXX: So sad.. I am about go start a career in a certain bank. Being apprehensive already.. Please which other career paths can I redirect to?...

what course did u study in school

My advise to ur brother is for him to borrow d money and offset d loan, as someone earlier said most if not all banks has a data base now where called d CRC burea where everyone who is indebted r stored dis can even affect traveling to certain countries n mostly accesssing loan from any oda bank, another tin is dat most banks don't pay any form of gratitute to formal employees d most u get is one month salary dat is if u give dem a months notices to dat effect, some ppl r asking him to go 4 is annual leave, wat of if he has already gone for it so he can b d one even owning d bank for d loan allowance he has been paid, correct me if I'm wrong but most govt organisations u hav to work 4 like 3 if not 6 months b4 ur paid ur salary dat is der will accumulate all d money 4 dat duration den pay u once after d 3 or 6 month period.
Best bet he should borrow n pay

0000000: some Government agencies like the CBN will not even allow you resume for training until you come along with a letter of non indebtness/clearance from your former employer -they state it clearly in your offer for employment (though there is a way round this hurdle). While some Banks e.g Ecobank ll not pay you dime as gratuity until you serve them for 10yrs.
The easiest way I think is to raise cash and offset the loan with his present employer.

I resigned from the bank after 4 years 7 months even with a month notice of resignation. I wasnt paid a dime save for a part of 13th month which ideallu is part of your salary and you cant assess it till December. If you dont give a month notice, you will still be required to refund a month salary to the bank. You can only be paid gratuity if you have used up to 10 years in the system.

oscar_XXX: So sad.. I am about go start a career in a certain bank. Being apprehensive already.. Please which other career paths can I redirect to?...

I wish you well in your career but the truth is be planning to leave once you resume work. Be ready to lose friends and be prepared to sacrifice your time for your new work. You will be required to work on weekends depending on which unit you are, and I pray you are not made to work as a teller as cash shortage can distabilise you. All the best.

Most employers think they are smart...but there are smarter employees!

I worked for more than 10 years in a bank and got no terminal benefits. I knew I wouldn't get so it wasn't a surprise. What surprised me was the amount they paid me for my huge accrued leave which helped to reduce my indebtedness.
They held onto my reference until I paid them off, that was before it was converted to commercial loan in 6 months.
I learnt from friends in telecommunications that they don't pay gratuity or terminal benefits either. It seems to me that only the oil majors and good govt agencies do.
I am still a fan of the banking industry because during my post NYSC era they seem to be the only industry that can employ a common man on merit and pay you a handsome salary.
Nigeria is way too difficult and corrupt but God is helping us.

I am in the same situation with the op. I resigned and was allowed 3 months to pay of though with a guarantor. Thereafter to continue paying at commercial rates. It is shocking though that I have not been paid since September at my new place and no information regarding that but I have no regrets cos I was only being used to recover debts wth no career path for a lawyer of almost 9 years and counting.

I think termination without benefits is wrong. Those in this boat should seek good legal advice.
This usually requires a lot of work and most folks are not willing to do.
Thank God for the internet on E-libraries.
1) Find out the industry standard on these issues from CBN and Labour laws.
2) Find out the BANK policy on this.
3) Even for contract staff, find out the policy of the contracting company on this.

Most times these big boys act on the ignorace of their staff.

You can do your research or get a good lawyer (and be ready to pay) to do it for you.
If you have a strong case, trust me, NO BANK will want to go to court for this kind of thing. The threat of a case is enough for the Managers at HQ to run around and settle.

As for the dude that want to quit without paying back the loans. That is FRAUD. It EFCC or Police get involve, you will not be in a good position. You can re-negotiate the loan terms and spread out payments. Also, it will be bad for your GUARANTORS because the bank will hold them responsible.

NOTE:
- No ONE goes to jail for repaying loans slowly. They may use jail to threaten you but if you have a good and honest payment plan, there is no case provided you are paying so they don't harras your GUARANTOR.

- On the other hand, running away with debt is a crime and is punishable by law.

Solupeace: My cousin just got a ministry job which he feels it's better than his current banking job. Kindly advise on the best way to go about since he has an outstanding loan that he doesn't have money to offset.

Ask your cousin to request the ministry to domicile his new salary account with his old bank, that way they can make agreed deductions from source.

OR

pay outright.

You have not mentioned the name of the bank. If it is a private bank then your decision is right. But if it is State Bank of India, then you should not leave unless you get higher post than your current post. SBI gives more monetary benefits than ministry in equivalent post. ( A SBI clerk gets much more than a LDC in state/ central ministry).
You have two options regarding the staff loan- either pay off or conversion to public loan. If you can't pay in future bank can treat you as a defaulter and take steps according to law including attachment of your property.

State Bank of India gives Gratuity, Contributory Providend Fund( own+ employer contribution) ,Leave encashment upto 8 months if anyone completed minimum 5 years of service. To get full pension , 25 years( or 20 years when employee attain age of 55 yrs) of service is required. Don't compare SBI (govt of India owned) with any other bank. One who completed 7 years with present gross 40000, gets nearly 5 lac if it reigns.
Few people still leave SBI because they get higher posts in other jobs. But for similar post, SBI is best among all in all respect ie money, career.
To resign bank having loan, you have two options: 1) liquidate it & 2) convert it to public loan if permitted by the bank.

I am sorry to bring my own problem to this thread. I need an urgent advice. I worked in a New generation Bank as a full staff for 8yrs and I rose to the level of cash management officer. I had always worked very dilligently with full dedication to my job. In 2013, my Dad was critically ill and we needed to send him abroad and we needed money. I was not qualify to obtain a loan from the bank since I still had one running. I then approached a registered money-lending company ( from whom I had borrowed money in the past and pay back), who lent me N500,000.00 with a total interest of N160,000.00 making N660,000.00 for 6months. Meaning I will be repaying N110,000.00 monthly for 6months. That was on October, 2013. I was to commence repayment on October 26th. The lender did not take any physical collateral, they only took a guarantee from one of my junior coleaque, a lady who was very loyal to me. She issued an undated cheque signed, why I gave 6 posted cheque to be presented for repayment on salary day. Of course, my salary could comfortably accomodate the debt.

On 17th of October, I authorized a wrong transaction that resulted in a loss of USD15,000.00 to the bank, and concidentally, it was posted by this same Teller. I was summoned to Head-office on 19th of October, my Account locked, kept in Head-office till January 2014 and refused to pay salary, eventually, I was sacked in the first week of January, 2014. The lady was also summoned to Head office and suspended for a month but resumed back.

The bank paid me no entitlement and since then, I have been on the street. I have a family to run. I was in the system till January 7th 2014, yet the last salary received was that of October, 2013. As a result of this, I could not meet my obligation to my lender. They contacted me through phone and I explained the situation of things to them.

Since I left the bank in 2014 January, Life has been seriously unbearable. Infact, myself and my family have gone through serious hunger! I had tried to get another job, but to no avail. I had try businesses, but for lack of capital and other factors, it has not really work. I have been leaving like a pauper. My wife is not engaged. She has HND in Accounting, , I discovered she is not employable. I don't know why I did not notice that through courtship. I guess I was blinded by love. I wish to help her overcome the challenge, she does not seem to see it as a problem and besides, she beleive there is nothing she can do to solve it. The problem is that she cannot read. i mean she cannot read at all. I still wonder how she managed to graduate. She is a very beautiful and look classical and executive. She cannot also converse in English. She cannot write.

Now to the loan issue, because of my financial situation, I have not be able to repay anything from the loan. The company keeps calculating and adding interest on monthly basis and they stopped contacting me. They wrote a stinker to the bank regarding my guarantor. It was written to HR and HR passed it to the branch manager. I was called and wrote a letter to the lender to give me a little time, yet they did not stop harrasing the young lady and blackmailing her. Last month, they were in her office and they had to force N40,000.00 out of her. This is a lady on a salary of N120,000.00. She cried as she paid the money. This month again, they will be going to her office tommorrow, to force money out of her. Meanwhile she had a shortage in the course of the month, she had to pay 60,000.00 from her own money. I am jusy tired of the whole stuff. Now, they are claiming the whole outstanding amount now is N1.2million because of the interest they have been calculating.

Meanwhile, one of the newly appointed Honourables in the national assembly just offered me an appointment as a Legislative assistant, I never know what to expect, but I understand their salary is not much.

Pllease, I need your candid advise on how to solve the whole issue, most especially that it should not cost the lady that assisted my out of trust her job and embarrasment at work and also how I can handle therepayment considering there new intimidating figure and they keep mounting interest on monthly basis. Thank you.

betafuture:
I am sorry to bring my own problem to this thread. I need an urgent advice. I worked in a New generation Bank as a full staff for 8yrs and I rose to the level of cash management officer. I had always worked very dilligently with full dedication to my job. In 2013, my Dad was critically ill and we needed to send him abroad and we needed money. I was not qualify to obtain a loan from the bank since I still had one running. I then approached a registered money-lending company ( from whom I had borrowed money in the past and pay back), who lent me N500,000.00 with a total interest of N160,000.00 making N660,000.00 for 6months. Meaning I will be repaying N110,000.00 monthly for 6months. That was on October, 2013. I was to commence repayment on October 26th. The lender did not take any physical collateral, they only took a guarantee from one of my junior coleaque, a lady who was very loyal to me. She issued an undated cheque signed, why I gave 6 posted cheque to be presented for repayment on salary day. Of course, my salary could comfortably accomodate the debt.

On 17th of October, I authorized a wrong transaction that resulted in a loss of USD15,000.00 to the bank, and concidentally, it was posted by this same Teller. I was summoned to Head-office on 19th of October, my Account locked, kept in Head-office till January 2014 and refused to pay salary, eventually, I was sacked in the first week of January, 2014. The lady was also summoned to Head office and suspended for a month but resumed back.

The bank paid me no entitlement and since then, I have been on the street. I have a family to run. I was in the system till January 7th 2014, yet the last salary received was that of October, 2013. As a result of this, I could not meet my obligation to my lender. They contacted me through phone and I explained the situation of things to them.

Since I left the bank in 2014 January, Life has been seriously unbearable. Infact, myself and my family have gone through serious hunger! I had tried to get another job, but to no avail. I had try businesses, but for lack of capital and other factors, it has not really work. I have been leaving like a pauper. My wife is not engaged. She has HND in Accounting, , I discovered she is not employable. I don't know why I did not notice that through courtship. I guess I was blinded by love. I wish to help her overcome the challenge, she does not seem to see it as a problem and besides, she beleive there is nothing she can do to solve it. The problem is that she cannot read. i mean she cannot read at all. I still wonder how she managed to graduate. She is a very beautiful and look classical and executive. She cannot also converse in English. She cannot write.

Now to the loan issue, because of my financial situation, I have not be able to repay anything from the loan. The company keeps calculating and adding interest on monthly basis and they stopped contacting me. They wrote a stinker to the bank regarding my guarantor. It was written to HR and HR passed it to the branch manager. I was called and wrote a letter to the lender to give me a little time, yet they did not stop harrasing the young lady and blackmailing her. Last month, they were in her office and they had to force N40,000.00 out of her. This is a lady on a salary of N120,000.00. She cried as she paid the money. This month again, they will be going to her office tommorrow, to force money out of her. Meanwhile she had a shortage in the course of the month, she had to pay 60,000.00 from her own money. I am jusy tired of the whole stuff. Now, they are claiming the whole outstanding amount now is N1.2million because of the interest they have been calculating.

Meanwhile, one of the newly appointed Honourables in the national assembly just offered me an appointment as a Legislative assistant, I never know what to expect, but I understand their salary is not much.

Pllease, I need your candid advise on how to solve the whole issue, most especially that it should not cost the lady that assisted my out of trust her job and embarrasment at work and also how I can handle therepayment considering there new intimidating figure and they keep mounting interest on monthly basis. Thank you.

Hmmm.... I don't know what to say, but have you informed the Most Senior Advocate? No matter what may be your matters, He is the only one that can settle them.

Glory be to His name in the highest!

I had a loan when i resigned. Collect new appointment letter then resign, its no news. They will work out your debts and benefits..

Wanna tread on this part. Thanks.

Keneking:
Most employers think they are smart...but there are smarter employees!

I don't work in a bank but in a company, and I want to resign immediately my annual leave terminates by next week. I also have a running loan which I want them to offset from my terminal benefit. But, my company doesn't pay people till after about 7 months. Please, that period of waiting for them to pay, what will the bank do because they won't be seeing their monthly pay back as usual? I don't want to use my new salary to offset.

.