Welcome development for pipo like lapo

Koolking:
Raise your hands if you don't understand this incomplete story

If you failed to pay Bank A what you're owing them, and you had funds in Bank B, processes would be initiated to get you pay Bank A the loan from your deposits in Bank B.

erons22:

E con be like say you want chop another ban.

guyklju:
Another One: N*ked Video Of Nurse Crying Hard During S E X Inside Toilet Go Viral (Video)

This is believed to be leaked by the guys who banged her in the video and according to reports the police are in search of the boys.

Download&Watch the video Of Her Here

Mods this is a hacker account.

He uses it to hack people's phones..

Please disable and block.

adecz:


We go begin hide money inside
mattress, soak away or underground
inside farm...


This govt, na to just dey target hustling or
struggling people without improving the
lot of anybody.

From one attack to the other.

Dem wan ban importation of food wey common
man dey take manage, but still continue
to import fuel.

Buhari is just a failed leader, with no
compassion.

Please, I am not understanding oo!
What is bad in this policy?
Do you intend defaulting on your loan? If not then why worry

charlsecy:
If you failed to pay Bank A what you're owing them, and you had funds in Bank B, processes would be initiated to get you pay Bank A the loan from your deposits in Bank B.

as simple as ABC!
I can't understand why people want loan they do not intend paying back. If I have my way I will add prison term for whoever default on a loan and still kept money in another account!

guyklju:
Another One: N*ked Video Of Nurse Crying Hard During S E X Inside Toilet Go Viral (Video)

This is believed to be leaked by the guys who banged her in the video and according to reports the police are in search of the boys.

Download&Watch the video Of Her Here

See mumu

sinkhole:
as simple as ABC!
I can't understand why people want loan they do not intend paying back. If I have my way I will add prison term for whoever default on a loan and still kept money in another account!

You're thinking on one side of the bridge alone.

Nigeria doesn't have bankruptcy laws.
You defaulted in a loan doesn't mean you committed a crime. It just means you have no capacity to pay back at the agreed terms. Apart from just diverting funds to illegal or unauthorised use, there are other ways a debtor may not be able to pay back. There are loss of job, loss of business and even government policies.

When we have proper bankruptcy legislation in this country, then this new directive is very much welcome.

How about those who divert to other accounts in order to stay alive? Anyways, in this part of the world, we put the cart before the horse when formulating policies. I'm not surprised.

Besides, the Government can bailout big corporations and banks with tax payers money but will hunt, with impunity, the tax payer when he defaults. That is mean governance if you ask me.

Dis is good bcus it will encourage banks to loan u money without getting scared and without too much protocols. So if you like borrow and don't work hard to pay it back, you cant run anywhere except u want to keep ur whole life money in ur bedroom and thief go come collect ahm finally � �

Koolking:
Raise your hands if you don't understand this incomplete story

What they are saying is that if you get a loan from Access Bank for instance and your loan has been on default, they will automatically deduct your debt from any other bank you have money at

sinkhole:
Please, I am not understanding oo!
What is bad in this policy?
Do you intend defaulting on your loan? If not then why worry

The interest rates are atrocious &
murderous, between 30 to50% per annum
excluding various spurious charges.

People are pushed to the wall & still
take these loans in order to struggle, yet
government also puts difficult roadblocks
at every point....... default becomes inevitable.

It is not workable at law. I cannot have a contract with GTB and link their card to a loan site, just to wake up and be debited from my first bank account. My contract with the loan company didn't authorize such. I don't know why government institutions think they are above the law. Let the lenders take the borrowers to court and seek for garnishee orders

adecz:


We go begin hide money inside
mattress, soak away or underground
inside farm...


This govt, na to just dey target hustling or
struggling people without improving the
lot of anybody.

From one attack to the other.

Dem wan ban importation of food wey common
man dey take manage, but still continue
to import fuel.

Buhari is just a failed leader, with no
compassion.

You borrow. You no gree pay. Them follow you, you dear complain, de call government names...

Only thieves or evil minded people complain of such innovations.

useurkidney3121:

What they are saying is that if you get a loan from Access Bank for instance and your loan has been on default, they will automatically deduct your debt from any other bank you have money at

charlsecy:
If you failed to pay Bank A what you're owing them, and you had funds in Bank B, processes would be initiated to get you pay Bank A the loan from your deposits in Bank B.

Good incentives then. Thanks for the clarity

Good move.

Rotjijatau:
Good development..... But it should be subject to the debtor/customer's approval

Which approval? Which debtor will approve that. All that is needed is a court approval.

adecz:


We go begin hide money inside
mattress, soak away or underground
inside farm...


This govt, na to just dey target hustling or
struggling people without improving the
lot of anybody.

From one attack to the other.

Dem wan ban importation of food wey common
man dey take manage, but still continue
to import fuel.

Buhari is just a failed leader, with no
compassion.

Did you collect debt and refused to pay back? If not, what's your complain about.

Goddys:
It is not workable at law. I cannot have a contract with GTB and link their card to a loan site, just to wake up and be debited from my first bank account. My contract with the loan company didn't authorize such. I don't know why government institutions think they are above the law. Let the lenders take the borrowers to court and seek for garnishee orders

Well aaid

zomoears:


You borrow. You no gree pay. Them follow you, you dear complain, de call government names...

Only thieves or evil minded people complain of such innovations.

Who thief pass? Customers or banks?

Dem collect 1k to give you ATM card,
every month dem dey collect about 15O
for that card, whether you use am or not.

That is just the simple programmed monthly
stealing from millions of customers.

Their staff are even worse; raiding customers
accounts like herdsmen.

CEOs like Saraki, Cecilia Ibru, Intercontinental Bank oga,
etc were all rogues parading as CEOs,
stealing shareholders monies to
finance spectacular lifestyles.

They connive with Governors & ministers
to defraud States, who are then unable to
pay salaries or deliver the so-called dividends
of democracy.

Mr man, park well...... You are too
innocent & naive to understand.

deleo16:
Not only that people will pay VAT for every online transaction will commence soon

they should start taxing senators and stop giving import waivers to cronies, firs should do their work well stop punishing poor Nigerians for the taxes you cant collect from politicians.

EtovalAutomobil:

Mrs Aishah Ahmad though my female candidate and Oga Godwin Emefiele my male Candidate for the CBN job should realize that Nigerians are one of the smartest people in the world.They would either ship their deposits out of the country or find a pseudo account that is not link to them to operate.The real bone of contention is the interest rate,how can you be charging customers 28% interest rate when they borrow and be given them 3% when they save ,does that really make sense...the interest rate is too high jare.

where you forced to save your money with the bank?Why don't you invest your money and get higher returns....lol

landsngcom:


Did you collect debt and refused to pay back? If not, what's your complain about.

What's your stress, are you planning to default on loan obtained? Economic saboteur spotted.

EtovalAutomobil:

Mrs Aishah Ahmad though my female candidate and Oga Godwin Emefiele my male Candidate for the CBN job should realize that Nigerians are one of the smartest people in the world.They would either ship their deposits out of the country or find a pseudo account that is not link to them to operate.The real bone of contention is the interest rate,how can you be charging customers 28% interest rate when they borrow and be given them 3% when they save ,does that really make sense...the interest rate is too high jare.

Exactly

Rotjijatau:
Good development..... But it should be subject to the debtor/customer's approval

Will whose approval did the debtor default, that his/her consent should be sort to offset his/her indebtedness?

who fit loan me 50k?

Since I am the one in charge of payroll.. Na to dey pay myself cash remain be that..

Union bank loan no go kill me

EtovalAutomobil:

Mrs Aishah Ahmad though my female candidate and Oga Godwin Emefiele my male Candidate for the CBN job should realize that Nigerians are one of the smartest people in the world.They would either ship their deposits out of the country or find a pseudo account that is not link to them to operate.The real bone of contention is the interest rate,how can you be charging customers 28% interest rate when they borrow and be given them 3% when they save ,does that really make sense...the interest rate is too high jare.

You clearly don't understand why interest rate on loan is high and yield on savings account is low. On interest rate on loans, a lot a factors come to play such as cost of fund (where the fund is coming from). Other key factors are MPR, CRR ( which prevent banks from loaning out a percentage of their deposit), e.t.c.

For interest paid on deposit, it can be higher depending on how long you want to keep the deposit. Say fixed or call deposit. Assets are usually matched to liability. Mind you, your money if left in the vault is a liability on the bank as bank pay insurance, handling charge, vault charge amongst other charges. It's only useful when they loan it out and some factors highlighted above wont let banks loan out all the deposits.

I think i should stop here.

ExAngel007:
The Central Bank of Nigeria (CBN) and commercial banks in the country have agreed that loan defaults will be settled using deposits made in other banks.



Addressing journalists after the Bankers Committee meeting on Monday, Aishah Ahmad, CBN’s deputy governor, financial services system, said the directive is to encourage banks to increase lending.


More to follow…

https://www.thecable.ng/breaking-cbn-banks-loan-defaults-settled-deposits-other-banks

Ok

That's fair enough sir. The truth is if you want return fix the money. That will give them confidence to trade with the money.

Why will someone borrow and refused to payback... If u faill how will they pay investors

EtovalAutomobil:

Mrs Aishah Ahmad though my female candidate and Oga Godwin Emefiele my male Candidate for the CBN job should realize that Nigerians are one of the smartest people in the world.They would either ship their deposits out of the country or find a pseudo account that is not link to them to operate.The real bone of contention is the interest rate,how can you be charging customers 28% interest rate when they borrow and be given them 3% when they save ,does that really make sense...the interest rate is too high jare.

winnah:
That's fair enough sir. The truth is if you want return fix the money. That will give them confidence to trade with the money.

Why will someone borrow and refused to payback... If u faill how will they pay investors

Really I don't think anyone want to borrow and not pay but sometimes things happens that are beyond control.