GamalNasser:
Didn't the banks do their risk and collateral analysis before handing out loans to these Jet owners ? I don't think the govt should get involved in the prosecution of toxic or bad loans from the perspective of the customer but rather should investigate why Nigerian bank risk analysis are so porous that people can huge loans with clearly no projection or collateral to back it up ... It's clearly Corruption between bank management and their cronies to steal depositors monies , a person I personally was able to get a loan of over a billion naira from a bank using a fake banana island C of O ofcourse in cahoots with management of the bank , after 3 years when that management had left he was picked up by the EFCC and spent 3 months with them and since then has been a free man even though I don't have the details of how he got free

loans are given to padis

GamalNasser:
Didn't the banks do their risk and collateral analysis before handing out loans to these Jet owners ? [b]I don't think the govt should get involved in the prosecution of toxic or bad loans from the perspective of the customer [/b]but rather should investigate why Nigerian bank risk analysis are so porous that people can huge loans with clearly no projection or collateral to back it up ... It's clearly Corruption between bank management and their cronies to steal depositors monies , a person I personally was able to get a loan of over a billion naira from a bank using a fake banana island C of O ofcourse in cahoots with management of the bank , after 3 years when that management had left he was picked up by the EFCC and spent 3 months with them and since then has been a free man even though I don't have the details of how he got free

You can't take huge loans without collateral, there always a collateral....
AMCON had to buy over 3trillion worth of toxic debts to ensure banking sector stability and save thousands of jobs which would have resulted had the banks not been bailed out. Having bad and toxic loans is NOT a bad thing as banks make provisions for it in their books, what is alarming in Nigerias case is the huge level of non performing loans.
Corruption and Politics plays a huge role also.

12Monkeys:
This Emefile is an idiot.

So a business man borrows from the bank to invest into the economy under his private liability company.

Govt Policies under the dullard screws his investments and his company goes bust.

Why blame business men who invested

The useless CBN and Buhari govt are to blame.

Besides, these banks are killing the eonomy with their loan shark rates.

Emefile should consider reducing the lending rate as that is the major thing fueling inflation in Nigeria.

How can banks be lending at 35%

Have heard about the term offer and acceptance.its only Nigeria the so called bigmen and business men borrowed my and your money spent it on women, cars and others .moreover do thinks the CBN does not know people who are unwilling to repay loans and bad debts cause by govt policies because both monetary and physical policies were drafted by CBN

itsme01:


many times loan interest outgrow the collateral, and sometimes the collaterals loose values in a case where the collateral is the company in question and the CEO simply diverts the loan to other ventures while watching the business go bankrupt and he enjoys the loan

and to quite frank, the reason bank give loan is to acquire "wealth beyond the original loan" the profit gives them fund to pay salary of workers, give shareholders dividends and run the banks buying diesel and internet

so CBN vs Loan defaulters who are "Big Men" in the long run favours the masses whos money are tied to this banks, making a case for the defaulters is just funny because ordinary people don't even access loans this days

Every loan has a tenure.

If it can't be repaid for whatsoever reason during the life time of the loan it becomes a bad debt.

The banks will then move to confiscate the collateral which naturally would be worth at least equal to or more than the loan plus interest on it.

And stop making the banks look like some peasant cooperatives. Banks are not poor or owned by the poor.

The masses deposit is a small fraction of their funds.

Banks make money out of your deposits in that a savings will eventually lose money from their sundry list of charges or devalue naturally due to hyper inflation.

This reminds me of how same GTB wanted to force then ECONET to give them shares in their company and a sit at the board of directors over a loan extended to them. ECONET refused and ended up being sold to offset the loan. Same gimmick GTB tried with Innoson.

Bankers are crooks and Emefile has been pandering to them ever since he became CBN director

No CBN Governor has introduced and approved more levies on depositors than this Emefile.

Just seize and not announce

Now they'll start parking in Ghana

Loose lips sink ships

The CBN Governor is speaking yayampo!!!!

You never jam person wey sabi hide money

Wickedfacts:


He is a PDPigg from the SE. Double jeopardy.
Their only job is to support thieves, criminals and looters of all kinds.

You are very correct.

You just said the truth, the whole truth and nothing but the truth.

Story! So if I come up with a viable business proposal will I be given loan? I don't think so. Their loans are only meant for the rich.

CBN, I need N2b loan for the health sector, to pay in 40 years. Any hope of getting this without any collateral?

Same CBN that can't hold commercial banks responsible when a failed transaction isn't reversed within 24 hours.

valentineuwakwe:

https://punchng.com/well-seize-private-jets-belonging-to-loan-defaulters-cbn/

Isn't that the first thing to do.
CBN come take resetting Slap.

12Monkeys:
This Emefile is an idiot.

So a business man borrows from the bank to invest into the economy under his private liability company.

Govt Policies under the dullard screws his investments and his company goes bust.

Why blame business men who invested

The useless CBN and Buhari govt are to blame.

Besides, these banks are killing the eonomy with their loan shark rates.

Emefile should consider reducing the lending rate as that is the major thing fueling inflation in Nigeria.

How can banks be lending at 35%

These loans are not loans of 3 or 5 years ago.
There are banks that are not existing anymore but they were sold with their liabilities. What do you want the new owners to do... leave the debtors?

The government knows what to do. It's just lack of political will because the defaulters r still powerful people in the society.

itsme01:


many times loan interest outgrow the collateral, and sometimes the collaterals loose values in a case where the collateral is the company in question and the CEO simply diverts the loan to other ventures while watching the business go bankrupt and he enjoys the loan

and to quite frank, the reason bank give loan is to acquire "wealth beyond the original loan" the profit gives them fund to pay salary of workers, give shareholders dividends and run the banks buying diesel and internet

so CBN vs Loan defaulters who are "Big Men" in the long run favours the masses whos money are tied to this banks, making a case for the defaulters is just funny because ordinary people don't even access loans this days

Thank you for making him understand.
What most don't understand is that these loans were gotten from the deposits of the masses who are also denied access to loans.
Someone blamed Buhari, he forgot that if the CBN fail to intervene we might start seeing banks folding up and customers deposits failing.

The NDIC and AMCON have done a good job so far but these men are still misbehaving by running to the public space to cry witch hunt when they know they are at fault. The ignorant individuals will start shouting without understanding that this fight is to protect their little deposits in various banks.

FemiOyewoleGCFR:

The CBN has given all commercial banks in Nigeria a directives to give out loan to entrepreneurs who wants to do business without an option of receiving collateral.

Bros it shouldn’t end there, the lending rate should not exceed 10% at most. And cbn should enforce it, as an entrepreneur who wants to venture into a business it’s easier for you to get US citizenship than getting a loan from a Nigerian bank, so how do they encourage startups?.

Kfed4ril:



Bros ur shouldn’t end there, the lending rate should not exceed 10% at most,

Yes, I know about that

Wickedfacts:


He is a PDPigg from the SE. Double jeopardy.
Their only job is to support thieves, criminals and looters of all kinds.

Lol
And you support Buhari, Ganduje etc
Funny

Me that don't have up to 1k in my Bank Account, where will they see the money kwanu, CBN Are Joking ooooo

Let them sell assets and pay nah..

You sef wey dey give loan for discombobulated economy, use your head.

I didn't know this economy was like this till I entered business.

Some bankers will just be throwing around depositors funds in the name of loan.

This present regime cannot fix the economy.

SpyAC:
abeg how much Dem dey sale this keke bus safe, I wan use am for my private car, so that this sars guy go let me rest kwanu

Then you are a YPlus

Simplyleo:

You are very correct.

You just said the truth, the whole truth and nothing but the truth.

Welcome back, patriot.

You have my blessings... seize any and all assets in their names if it will repay our yams. Selfish bastards!

Isoduwa:



Then you are a YPlus

lol, wished i new hw to do it

Let banks deal with their problems. Sebi dem no fit trust young guys struggling to improve his small biz by giving them small loans, they should deal with their Billionaires that they trust.

Wickedfacts:


He is a PDPigg from the SE. Double jeopardy.
Their only job is to support thieves, criminals and looters of all kinds.

Bros u harsh o. Do u know him

Goood

RaptObserver:
Story for the gods...who is "driving private jets"?

Do you 'drive' or "fly" in private jets?