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SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances (17106 Views)

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Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by HRMK: 1:38pm On Jan 10
why are nigerian politicians so dubious?what happens when #administrators of such accounts show up?litigations

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Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by nedekid: 1:39pm On Jan 10
blinking001:
SERAP should keep their mouths shut. They talk too much. They know nothing about good governance. If borrowing is what's going to make our country move forward then our President must borrow. I'm sure the president Buhari led administration is already working on modalities to pay back these loans. Enough of the wailing already....
Then lend them your own money to move the country forward.
Do not touch other people's money dead or alive. The dead have next of kin. Get their consent and should the decide to give, pay interest where required. Ie bonds.

3 Likes

Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by Brushstrokes20: 1:40pm On Jan 10
The redundant coupist and cohorts are common criminal s!
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by Zoomx: 1:40pm On Jan 10
GamalNasser:
You can't borrow someone's money without the persons permission , doing this is outright armed robbery...Dormant account is a faux there is nothing like that ..No account can be said to be abandoned when all accounts have Next of Kin ...why are banks not informing next of kins as the law suggest

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Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by 12inchess: 1:44pm On Jan 10
Hahaha. Na so stealing dey start. Why would you borrow without knowledge of the owner?
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by larrybabanla(m): 1:47pm On Jan 10
blinking001:
SERAP should keep their mouths shut. They talk too much. They know nothing about good governance. If borrowing is what's going to make our country move forward then our President must borrow. I'm sure the president Buhari led administration is already working on modalities to pay back these loans. Enough of the wailing already....
na God go punish u,.its obvious non of ur family member had ever opend an acct in their miserable lives, oloriburuku animal

2 Likes

Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by kingbee90: 1:47pm On Jan 10
blinking001:
SERAP should keep their mouths shut. They talk too much. They know nothing about good governance. If borrowing is what's going to make our country move forward then our President must borrow. I'm sure the president Buhari led administration is already working on modalities to pay back these loans. Enough of the wailing already....

You sound very dumb.

1 Like

Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by Newman224: 1:52pm On Jan 10
blinking001:
SERAP should keep their mouths shut. They talk too much. They know nothing about good governance. If borrowing is what's going to make our country move forward then our President must borrow. I'm sure the president Buhari led administration is already working on modalities to pay back these loans. Enough of the wailing already....

Clown. Modalities to pay the loan you say. All the ones they have been borrowing how many have they paid since
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by zeusdgrt(m): 1:54pm On Jan 10
blinking001:
SERAP should keep their mouths shut. They talk too much. They know nothing about good governance. If borrowing is what's going to make our country move forward then our President must borrow. I'm sure the president Buhari led administration is already working on modalities to pay back these loans. Enough of the wailing already....
30k paid apc e rat.Foolishness is an office and I can see u are occupying it very well.

1 Like

Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by lammygloooooooo(m): 1:55pm On Jan 10
So even Nigeria bank not safe again . make una kukuma use everybody for Nigeria collect loan. Abi kekuku ta gbogbo Nigeria so u can get enough money u are looking for. Orisirisi
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by Gabbriell: 1:57pm On Jan 10
Korllami007:
So person wey go prison go come back and he no go meet him money for account. This was how Lebanese government started borrowing money from dormant accounts and they graduated to borrowing from active accounts.


Over 70% of Nigerians are not even government workers. So the day Nigerian government will dream of borrowing from peoples active accounts without their permission is the day the will see the other side of Nigerians.

Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by Freemasonry: 1:58pm On Jan 10
Next level of unprecedented corruption is what this is.

This president is a disaster.
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by eneyoduke(m): 2:03pm On Jan 10
grin

Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by viyon02: 2:07pm On Jan 10
kambili999:
ewwww chimooooo cry
yeah, that is just the fact, my advice for you my dear, just do whatever you can do to get out of this country, because very soon it will be very difficult to survive. Because very soon no loan will be given to Nigeria from any international body or any country and the country is being finance my loans, so your leaders will just automatically leave the country quietly leaving you behind.
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by SweetCunt97(f): 2:07pm On Jan 10
GamalNasser:
You can't borrow someone's money without the persons permission , doing this is outright armed robbery...Dormant account is a faux there is nothing like that ..No account can be said to be abandoned when all accounts have Next of Kin ...why are banks not informing next of kins as the law suggest
We can all see how useless APC is under the leadership of buhari! These worms will suck Nigeria dry!

1 Like

Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by NewDelhi(m): 2:12pm On Jan 10
PassingShot:

An account that's dormant for 6 years is suggestive of the death of the owner or holding a slush fund.

Either way, the govt is more entitled to it than the banks who are using it to make personal gains. If the govt use such funds to build infrastructures and boost the economy, it's for our common good.
Dumb. What if the person is in jail or out of the country.

1 Like

Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by SweetCunt97(f): 2:12pm On Jan 10
blinking001:
SERAP should keep their mouths shut. They talk too much. They know nothing about good governance. If borrowing is what's going to make our country move forward then our President must borrow. I'm sure the president Buhari led administration is already working on modalities to pay back these loans. Enough of the wailing already....
The one they borrowed from China, dem don pay back? Doesn't take a dunce to realize these northern illiterates are embezzling our common wealth.
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by gypsey(m): 2:14pm On Jan 10
tunapawizzy:
na so stealing go start,,, borrow dormant account balance ...dey will graduate to borrowing money that have not been used in 30 days
yep!! And then after that they will start borrowing from the accounts that has not being used for 2 week, then 1 week and .... next thing they will start going into people's houses searching for more money, searching their wallets and purses in the streets and borrowing that also.


Nigeria is a failed nation, this is the country some of her people were mocking America recently

1 Like

Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by tunapawizzy: 2:18pm On Jan 10
gypsey:
yep!! And then after that they will start borrowing from the accounts that has not being used for 2 week, then 1 week and .... next thing they will start going into people's houses searching, searching their wallets and purses in the streets and borrowing that also.


Nigeria is a failed nation, this is the country some of her people were mocking America recently
Abeg no kill me with laugh o...
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by gypsey(m): 2:19pm On Jan 10
grin grin grin I have never in my 38 years on earth heard that a country's government are borrowing money from their citizen's account, let alone without permission. Ridiculous!!


I think they might be after those accounts with looted funds in them. cheesy E don red, like some Nigerians would say.


What would be next? searching people's houses for money?

Nigeria is doomed.
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by MartinsD12(m): 2:19pm On Jan 10
Tobbydhayor90:
SERAP asks Buhari to drop plan to borrow dormant account balances, unclaimed dividends

....



https://serap-nigeria.org/2021/01/10/serap-asks-buhari-to-drop-plan-to-borrow-dormant-account-balances-unclaimed-dividends/
Shame to all the people who are supporting this clueless Buhari, see where una land us
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by gypsey(m): 2:20pm On Jan 10
tunapawizzy:

Abeg no kill me with laugh o...
grin grin na you start am oo!!
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by knowhowk: 2:26pm On Jan 10
God Which Direction ?
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by dominic17: 2:46pm On Jan 10
Supporters of the bad governance continue until the day your account balance will be borrowed without your knowing.
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by Evercurious(f): 2:48pm On Jan 10
PassingShot:

If I was a crook like your uncles and aunts, I would not be supporting the govt to "take over" those suspected funds.

I say una too dumb!


SUSPECTED FUNDS INDEED. YOU ARE A CRIMINAL LIKE YOUR FATHER BUHARI

2 Likes

Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by Latvin: 2:56pm On Jan 10
PassingShot:

The Finance Act 2020 which was recently signed by the president has become the law provided it does not contravene any part of the constitution. You must remember that this was passed by the NASS.

I have provided you with a link to that of US law on Dormant Account.

Thanks as you have provided insights into why this is being done and not the over simplistic narrative from majority of us including in this case SERAP itself.

As you said, people are not concerned that the banks themselves are currently using these funds free of charge to fund their private enterprises or other ventures that do not contribute necessarily to growing our economy. The banks themselves can't wait to declare accounts dormant for reasons stated above. So if govt steps up to say, look you banks and unclaimed dividend managers should borrow these funds to govt to help close the infrastructure gap, what is wrong in that? If that will help us reduce our foreign borrowings, what is wrong in that?

Mind you, the govt is not confiscating the funds. It will pay a decent interest in consideration of using the funds. Whenever owners or next of kins step forward to claim those funds, they will have access to their funds for sure.

Section 44 of the constitution quoted by SERAP said towards the end...'except in the manner and for the purposes prescribed by a law'. That law is the Finance Act 2020 passed by NASS.

I agree that govt should do more in reducing cost of governance and cutting waste. That can be done in parallel.
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by Latvin: 2:58pm On Jan 10
dominic17:
Supporters of the bad governance continue until the day your account balance will be borrowed without your knowing.

Nothing of such will happen, its only scare mongering. Seek to understand the issues.
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by dominic17: 3:11pm On Jan 10
Latvin:


Nothing of such will happen, its only scare mongering. Seek to understand the issues.
You never can tell Nigeria government can do and undo anything.I don't trust them at all.
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by sugarleen: 3:17pm On Jan 10
I need help, I need a job, graduated 11 years ago without a job and no capital to start a business either. Feeding is an Herculean task. 3147410299 fbn is my account. 08125239689 is my number. God bless.
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by Latvin: 3:35pm On Jan 10
dominic17:
You never can tell Nigeria government can do and undo anything.I don't trust them at all.

Yes there is trust deficit with govt due to years of misrule. However if you take time to analyse the way Buhari is going about this infrastructure revolution, you will clearly see a different pattern and approach compared with how previous govt has gone about them.

The loans are put in the hands of those that directly build infrastructure. Check the way beaureacracies and corrupt middlemen and politicians are bypassed to reduce corruption. From the rail infrastructure provided directly by rhe Chinese to Siemens Power deal struck directly with Siemens and German govt to proceeds of bonds paid directly to road contractors etc etc. That is why those projects are being delivered timely and within budget.

This govt is also fighting the corrupt processes it inherited from the past govt e.g port reforms that eliminate expensive middlemen and concessionaires, power distribution companies that failed to deliver according to contract etc etc

Just take a look with an open and unbiased mind and you will see a clear and progressive direction
Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by obailala(m): 3:46pm On Jan 10
GamalNasser:
You can't borrow someone's money without the persons permission , doing this is outright armed robbery...Dormant account is a faux there is nothing like that ..No account can be said to be abandoned when all accounts have Next of Kin ...why are banks not informing next of kins as the law suggest
But thinking of it, banks do this all the time (i.e. take the funds you deposit and use same for business) without you even knowing it. Most important thing is that whenever the owner of the funds decides to withdraw their funds, the bank would provide the cash.

If there's any party that should be worried about this, it's the bank whose access to liquid cash would be reduced. But then again, lending is the standard business of banks; they lend the cash from their vaults to the govt and then the govt pays back with interest.

1 Like

Re: SERAP Asks Buhari To Drop Plan To Borrow Dormant Account Balances by Autherga(m): 3:48pm On Jan 10
With the way the government is going, it is to keep your money in your house or better still dig hole for backyard Bury.

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