Pefuele:

N8.8m(approx) to the nearest tenths

For the details you posted above, you have N4,961,644 as balance and it clearly shows you don't have enough money in the account.

Goodness! Time2Win. I did not look the figure well o. I actually took the total credit for N406 million. Thank you for this. Am I to believe the total credit is N406,689,020 for the six month period?? If yes, then I was right with my assessment of the cause of his refusal.

Time2win:


What's the deficit on your i20? For this details you posted, you have N4,961,644 as balance and it clearly shows you don't have enough money in the account. Highest scholarship giving by University of new haven is 50% and deficit is 22,405$ unless you were given provost assistanship.

fairheart:
Goodness! Time2Win. I did not look the figure well o. I actually took the total credit for N406 million. Thank you for this. Am I to believe the total credit is N406,689,020 for the six month period?? If yes, then I was right with my assessment of the cause of his refusal.

He thought the huge inflow will cover for the insufficient funds. It doesn't work that way. His deficit is 8.8m and he is presenting Statement of account with less than 5m in it. That's the reason for the refusal.

Time2win:


What's the deficit on your i20? For this details you posted, you have 4,961,644 and Clearly shows you don't have enough money in the account. Highest scholarship giving by University of new haven is 50% and deficit is 22,405$ unless you were given provost assistanship.

I just checked that now.
Could that be an error from the Bank.
Cos I actually collected it From the Account officer .

Pefuele:

I just checked that now.
Could that be an error from the Bank.
Cos I actually collected it From the Account officer .

How much is the balance left. That can't be an error

Time2win:


What's the deficit on your i20? For this details you posted, you have N4,961,644 as balance and it clearly shows you don't have enough money in the account. Highest scholarship giving by University of new haven is 50% and deficit is 22,405$ unless you were given provost assistanship.

I thought he said closing balance was 36m.
This is obviously the cause of refusal.

Time2win:


For the details you posted above, you have N4,961,644 as balance and it clearly shows you don't have enough money in the account.

I will look this up and correct immediately..

You get on the paper what is in the banking system based on available balance. What is the statement current balance?

Pefuele:

I just checked that now.
Could that be an error from the Bank.
Cos I actually collected it From the Account officer .

fairheart:
You get on the paper what is in the banking system based on available balance. What is the statement current balance?

something smells fishy in the statement. softwork lag I presume!!!

If this is the case, which I still strongly doubt, then he must have been saved from a ban!

Samuelpluto:


something smells fishy in the statement. softwork lag I presume!!!

fairheart:
You get on the paper what is in the banking system based on available balance. What is the statement current balance?

The statement current balance is N33,941,657.44
Infact,I used it to request my i-20 in April and the available balance was correct when I checked that time on this.
I will have him speak with the AO to check this.

Alright.

Pefuele:

The statement current balance is N33,941,657.44
Infact,I used it to request my i-20 in April and the available balance was correct when I checked that time on this.
I will have him speak with the AO to check this.

He didn't include the opening balance of the period, which should be at about 32 million. Credit and Debit flow as we no only accounts for inflow and outflow. Except if you are saying they pay less attention to the opening balance of the account

Time2win:


What's the deficit on your i20? For this details you posted, you have N4,961,644 as balance and it clearly shows you don't have enough money in the account. Highest scholarship giving by University of new haven is 50% and deficit is 22,405$ unless you were given provost assistanship.

Difference between total credit and total debit over a period of time would NOT always result into the current balance on the account.

Pefuele:

The statement current balance is N33,941,657.44
Infact,I used it to request my i-20 in April and the available balance was correct when I checked that time on this.
I will have him speak with the AO to check this.

Did you go to the bank to collect the statement of account yourself?

Kindly check the opening balance of the statement, Please guys kindly throw more light on what they were evaluating. They don't pay attention to the amount in the account?

Pefuele:

I just checked that now.
Could that be an error from the Bank.
Cos I actually collected it From the Account officer .

AspiringPHD:
Difference between total credit and total debit over a period of time would NOT always result into the current balance on the account.

Says who? Except there is an opening balance

Samuelpluto:


something smells fishy in the statement. softwork lag I presume!!!

Nope,I confirmed the balance through someone working in the fund transfer department.
I will have him speak with the AO on this.

segunbolawole:
He didn't include the opening balance of the period, which should be at about 32 million. Credit and Debit flow as we no only accounts for inflow and outflow. Except if you are saying they pay less attention to the opening balance of the account

This makes more sense

Let the applicant tell us the opening balance, the balance. We could tell what is wrong if it is actually the statement. But I hope he do his own findings and get things right.

AspiringPHD:
Difference between total credit and total debit over a period of time would NOT always result into the current balance on the account.

AspiringPHD:
Difference between total credit and total debit over a period of time would NOT always result into the current balance on the account.

You're right.


I just confirmed this .

Time2win:


Says who?

You have to add the opening balance to the difference between the total credit and total debit to get the current balance on the account.

What is the opening balance of the statement of account? Before you go and ask AO, check that.

Pefuele:

The statement current balance is N33,941,657.44
Infact,I used it to request my i-20 in April and the available balance was correct when I checked that time on this.
I will have him speak with the AO to check this.

AspiringPHD:


You have to add the opening balance to the difference between the total credit and total debit to get the current balance on the account.

Much clearer now

segunbolawole:
What is the opening balance of the statement of account? Before you go and ask AO, check that.

Opening Balance is:N28,980,013.85

AspiringPHD:


You have to add the opening balance to the difference between the total credit and total debit to get the current balance on the account.

Mehn you are correct .I learn this today. Thanks.

Just like in cash flow diagram.
The intial cost is left untouched...
Other cash flows are on top of it.

Pefuele:


Opening Balance is:N28,980,013.85

If this is the opening balance, my analysis earlier is wrong. You have sufficient funds in the account. Don't know if there is lump sum that might have triggered V.O attention. They frown at lump sum too

AspiringPHD:


You have to add the opening balance to the difference between the total credit and total debit to get the current balance on the account.

Mehn you are correct .I learn this today. Thanks.

Torh.... So, that strikes out Time2win's conclusion. So, what could be the issue with the SOA? cause I must say, I I feel that was the stumbling block, but I maybe Uncle/Aunty sponsor, or Credit and Debit Flow being close, and she presumed it is fund used for his business.... I'm just saying o...

Pefuele:


Opening Balance is:N28,980,013.85

Time2win:


If this is the opening balance, my analysis earlier is wrong. You have sufficient funds in the account.

I just chatted him now seff.He said the current balance is now over N40m...lol
Oil money...

Pefuele:


I just chatted him now seff.He said the current balance is now over N40m...lol
Oil money...

You need to check lump deposit over a small period of time, they frown at it most times.

segunbolawole:
Torh.... So, that strikes out Time2win's conclusion. So, what could be the issue with the SOA? cause I must say, I I feel that was the stumbling block, but I maybe Uncle/Aunty sponsor, or Credit and Debit Flow being close, and she presumed it is fund used for his business.... I'm just saying o...

It is a personal account.
Business account is different it can't bear the name of the person.Though they were transactions in it but is unrelated to his business.More like Normal ATM withdrawal, deposit,buying PMS and the likes