₦airaland Forum

Mystical888:
Dear House,

My niece works with this microfinance bank.

It happens to be one of the best we have in the country now, rubbing shoulders with the likes of First bank MFB and the likes.
However, the policies of this institution are quite difficult to keep up with.
One wonders why these expatriates come into our territory and have a field day, trampling on the rights of our graduates all in the name of “there are no jobs out there”.

They conveniently set up sweat shops and put our fellow Nigerians at the helm of affairs, to ensure they carry out their bid to the letter i.e not conforming to the stipulations of the Labour laws of the host country.
1) For instance, she has been trying for a transfer to a branch close to her home for the past 6 months to no avail.
2) She currently leaves home as early as 5 am in the morning and arrives at 11pm sometimes (for a lady about to settle down in holy matrimony).
3) She has the usual monthly targets to think about too, failure to meet up will have her shown the way out.
4) Allowances are reduced at the slightest provocatio, to reduce running costs and stay in business.
5) Promotions don’t come as at when due unless you have a relative(s) in the system (Husbands or their colleagues are best bet). If you like, spend ten years in the system, you must have earned so much for the organisation either by “hook or crook” before you can move to the next level.
6) Monthly salary of a loan officer who has put in 7 years into the organisation and rakes in on the average, 5 Million naira monthly in disbursements or 18 numbers of loan seeking small business owners is less than 100k.

You may think my knowledge of this facts and figures are not entirely accurate so I hope nairalanders who have information can share on here, so we can be better informed about the situation or maybe members of staff of the organisation who can make a change can effect those changes.

The world is a global village now with internet and social media, Nigeria cannot be left out in benefitting from its rewards.

WIt is sad that an organisation can look so good on the outside but is actually a workshop of sorts, an anti-labour organisation where emotional turmoil is the order of the day.

Looking forward to comments and contributions.
Front page please!!!

ultron12345:
(1) What is wrong with monthly targets.
Nothing is wrong with monthly targets, as a matter of fact targets or timelines are supposed to spur a professional into achieving deliverables in record time.
Sometimes, volume/amount to be achieved against a certain period of time.
Can be set by the individuals themselves, their supervisors or the organisation as a whole.
However, when the targets are set to stifle the abilities of the individual and kill their passion for the job what happens?
You may also want to ask if those unrealistic targets can be set by these foreign nationals in their own countries and for their own countrymen.
They are here and have the ability to do what they do because there are flaws in our system.
There’s poverty in the land and our people are willing to do whatever they can to earn a living at the detriment of their sanity.


(2)Allowances are reduced at slightest provocation? what do u mean by "slightest provocation". I don't know about the bank, but most firms have a policy where there are sanctions for various offences, such sanctions may include allowance deductions. So look up the bank policy on this, and if the deductions do not conform to d policy, then u can make complaints.
Allowances in general.
These are pre-agreed allowances that were embedded in the offer letter upon signing the contract of employment.
Except that the system has left the Nigerian employee at the mercy of the employers, we have the Labour and employment law which gives exclusive jurisdiction to the National Indutrial court (NIC) to try labour and employment disputes.
We have Employee compensation Act which is meant to protect the Nigerian from disputes as stated earlier.
A breach of agreement by law is illegal.


(3)The bank is under no obligation to transfer you whenever and wherever you like. They have the right and discretion to accept or decline ur transfer request. Have u thought if the bank needs extra staff at the branch u want to transfer to.
This is acceptable in organisations where it is preferred for employees to seek cheap accommodation far away from their branches to make ends meet.
This only happens in Shitty organisations where the customers are placed as priority far above the employees that do all the hardwork.
Where it is acceptable for defaulting customers to beat up/harass employees as far as the customer is ready to settle their outstanding repayments as previously agreed.
Yes, they have the right. But when there are 5 branches in your neighbourhood but you have to travel 40 kilometres to get to your assigned branch where a transfer cannot be approved.
And indeed there are other staff who also want to be transferred from where you’re seeking transfer to.


(4)What are the requirements for promotion. You said b4 u move up, u must have earned so much 4 d bank by hook or by crook. From this statement, I deduce that promotion is tied to performance. Do u want the bank to promote u when u haven't met the requirements which in this case is an outstanding performance, should the bank be promoting people who perform poorly, should they promote (or even retain u self) u when u earn nothing for the bank. You make it sound as if promotion is compulsory for everyone whether they perform well or not.

Do you have work experience Sir?
I mean from being an employee of a reputable organisation.
Then, you should know that promotions are a part of your career.
It is necessary for your organisation to promote you at least every two years or you’d be due to be shown the way out.
How would you resume in an office for years and not get promoted?
And of course you would have performed to be allowed to stay for that long.
So if you haven’t been promoted where you work Sir, please discuss with you line manager.
The fact that you have targets means you either meet them or leave, if you’ve stayed for seven years then you deserve to be promoted.[/color]


[color=#000000](6)There is nothing wrong with you earning 18k while bringing trillions of dollars to the bank for the past 25 years as long as you were preinformed of everything by the bank before taking the job. Before u took the job weren't u informed that u will be earning less than 100k. If it wasn't okay then why did u accept it in d first place.

I agree that you can earn 18k for 25 years and not get a Salary review.
A salary review should take care of the incidence of inflation on an annual basis.
How do you cope as a professional if you don't at least get a salary review annually with the inflation rate of this country?
I am forced to believe that you need help from the shackles of bondage where you currently work or how can one explain your arguments?

Please be real and support the obvious.
It's 2017 not 1983 Sir.
You need to wake up to the realities of the millennium.[color=#990000][/color][b][/b]

Mystical888:
There you go!
You've got it all wrong.
And it's not about me ultron, like i said earlier it's my niece who is involved.

edoman2016:
I even believe AB microfinance bank has better working conditions compared to others. The fact is Nigerian graduates are lazy and have entitlement mentality. They don't want a job with monthly targets and that's why they hate marketing jobs. Nigerian graduates just want to sit in office, gossip and play around like civil servants.

Mystical888:
@ultron12345
Have you found a lasting solution to this your Microfinance bank challenge?
See link below?
https://www.nairaland.com/3889118/how-microfinance-banks-deal-debtors

Its a daily challenge for credit/loan officers that work in these institutions.
They face different risks on a daily basis wiith defaulting customers.
Sometimes, they have to "ensure payment" using their own meagre earnings when their clients fail to pay at month end.
Hope you see why their working conditions need to improve.

Mystical888:
Gladly my dear!
If you have 10 customers for instance and one of them is suppposed to pay a sum of 30k at the end of January.

If for one reason or the other, the customer doesn't show up to make that payment it will affect your portfolio.

Your par goes up, your appraisal goes bad and you could get a warning letter if it continues.
To avoid such embarrassment or the risk of losing your job, you ensure payment by settling the client's monthly repayment on his behalf with your own personal funds.
When you rush at getting many clients for the company you also risk having many defaulters among them.
You also risk having bad loans and clients whose repayments pike up at your detriment.

So, what you regard as income is actually a means to recycle loans and pursue unscrupulous Nigerians around town trying ernestly to avoid repaying a loan.

Mystical888:
Gladly my dear!
If you have 10 customers for instance and one of them is suppposed to pay a sum of 30k at the end of January.

If for one reason or the other, the customer doesn't show up to make that payment it will affect your portfolio.

Your par goes up, your appraisal goes bad and you could get a warning letter if it continues.
To avoid such embarrassment or the risk of losing your job, you ensure payment by settling the client's monthly repayment on his behalf with your own personal funds.
When you rush at getting many clients for the company you also risk having many defaulters among them.
You also risk having bad loans and clients whose repayments pile up at your detriment.

So, what you regard as income is actually a means to recycle loans and pursue unscrupulous Nigerians around town trying ernestly to avoid repaying a loan.