Azidol:


Irrespective of who is giving the loan. Amount to be paid every month is too much. Imagine paying 6051x60 = ₦ 363, 060. So you collect ₦250,000 to pay back ₦363,060?

leonJunior:
I have been paid. I did my documentations last week but am still having issues accessing the fund. I have tried the *371# Lapo ussd code but it’s saying I cannot transfer to other banks. Pls people that have received earlier how did you access your funds?

SamJoshybobo:
I also did my own documentation last week at LAPO Bodija, Ibadan branch but the account has not been open let alone disbursement


Can I open account with LAPO online and later go to their nearest Branch for documentation?

If am to go for documentation, like how should I take along to be deposited into my account when opened?

And what category of loan should and amount should I apply for? As in household, etc? And amount I may likely to get on time? Thanks.

leonJunior:
I have been paid. I did my documentations last week but am still having issues accessing the fund. I have tried the *371# Lapo ussd code but it’s saying I cannot transfer to other banks. Pls people that have received earlier how did you access your funds?

cybertyrant:
it is not as if they are begging you, afterall na you find them come, business is all about profit, if you divide it by 5 years, you will be paying 23k per year in interest, how about paying your loan back before that time, o boi find chair siddon, even if the money is free, some people wont be able to utilize it, they will use it f-ck ashawo, go club, buy iphone, no business initiative, an average business minded person can multiply that money 10x in 5 years, mtchew, ordinary small car wash dey make 200k plus per month, please reject spirit of poverty and all its forms, leave your comfort zone, pray that GOD delives you from spirit of fear, amen

SamJoshybobo:
It's not thier money. Federal Government is just using them for disbursement. Let call a spade, a spade. If the payment is as explain, then it's nothing but extortion. Interest is meant to be 5% regardless of the amount.
If unfair to take advantage of people because they need your service

cybertyrant:
it is not as if they are begging you, afterall na you find them come, business is all about profit, if you divide it by 5 years, you will be paying 23k per year in interest, how about paying your loan back before that time, o boi find chair siddon, even if the money is free, some people wont be able to utilize it, they will use it f-ck ashawo, go club, buy iphone, no business initiative, an average business minded person can multiply that money 10x in 5 years, mtchew, ordinary small car wash dey make 200k plus per month, please reject spirit of poverty and all its forms, leave your comfort zone, pray that GOD delives you from spirit of fear, amen

cybertyrant:
can you hear yourself?, just because you know some english words doesnt mean you have to use them, now you disgrace yourself, define extortion? Disbursement? Advantage?, all used incorrectly, IT IS NOT BY FORCE, there is no bank giving loans at 5%, mention one, no one is taking advantage of anyone, this business not awoof, no bank will even give you loan to pay in 5 years, how do you expect them to pay salaries, fees, taxes, rents, utility bills, renew licenses and run maintainance, it is for business minded people not borrow or free but loan, people are making it and multiplying that money, they are not lazy youths, it is not extortion because its not their money

cybertyrant:
can you hear yourself?, just because you know some english words doesnt mean you have to use them, now you disgrace yourself, define extortion? Disbursement? Advantage?, all used incorrectly, IT IS NOT BY FORCE, there is no bank giving loans at 5%, mention one, no one is taking advantage of anyone, this business not awoof, no bank will even give you loan to pay in 5 years, how do you expect them to pay salaries, fees, taxes, rents, utility bills, renew licenses and run maintainance, it is for business minded people not borrow or free but loan, people are making it and multiplying that money, they are not lazy youths, it is not extortion because its not their money

Emmyzdon:


Will you just keep quiet Cybertyrant or whatever your name is. If you are a LAPO worker or a desperate person, that doesn't mean you should force what's bad down on people's throat. The loan being given is by the Federal Government and not Lapo. It is Federal Government's money not LAPO's. Nobody came to apply to LAPO for money, Federal Government said open account with and get your money. They shouldn't capitalize on the fact that the Federal Government is using them to disburse the Loan to exploit people. So, allow people to speak up when they are being exploited. You're not the one who is going to help them pay back the loan.

SamJoshybobo:
If you lack information regarding certain topics it's better you don't comment on such issues. If you don't talk no one will know the level of your foolishness. We are not talking about regular LAPO loan here and LAPO is not the only microfinance bank used for this NYIF. Dear cyberTRYANT, before your next show of stupidity read about NYIF and the role of MFBs. Google is your friend. If any MFBs attempt to abuse thier privilege, we're going to drag them including their enabler.

cybertyrant:
point of correction, lapo loans are 60% interest per year so i dont know what you mean by capitalise on it lol, they are not begging anybody, contact nmfb for information, stop rambling and face the reality lazy youth, them no help una wahala, them help una still wahala, nawa oo

cybertyrant:
Lol, no be by force to apply for nyif and npower, others are collecting their own without making noise

SamJoshybobo:
If you follow the thread you'll understand why there is noise regarding his/her own. Charging 9% for what's meant to be 5% (according to the post) is nothing but exploitation.
What is the correlation between loan and Npower in this context.

SamJoshybobo:
See hardworking adult with poor level of reasoning. Read what you type and corelate it with what he said, does it make sense to you?
It's federal government that's providing loan to help small business to alleviate the negative effect of Covid-19 hence the reason for low interest and long payment duration. During application, 5% was stated there as interest on any month. This has been follow by LAPO (according to those who has received thier own) and other MFBs. Someone came here to explain a suspected fowl play and you're defending stupidity with your foolishness.
No one ask you about LAPO interest rate. The rate is high that's why he didn't apply for LAPO loan

cybertyrant:
POST THE SOURCE WHERE NMFB IS SAID 5% PLEASA

cybertyrant:
see fustration pro max, no be me say make you miss nyif etc, stop ranting like a rabid dog, it is by choice to take it or leave it, it is not by force, terms and conditions are subject to change without notice to benefactor, like i said no be by force

xiitu:
My question still is;

CAN I STILL APPLY YET??

CAN I STILL APPLY YET??

CAN I STILL APPLY YET??

CAN I STILL APPLY YET??

CAN I STILL APPLY YET??

Epistasis:
The question on my mind is, did any beneficiary get the loan at 5% interest rate?. We need people to share the content of the agreement signed with Baobab or NPFMfB with us here so that we can be sure whether the interest rate is 5% or 9%.

Emmyzdon:


Point of correction, it is Federal Government's loan and not LAPO's. Nobody came to beg LAPO for loan. The Federal Government is just using them just like other MFBs to disburse the Loan. So, LAPO shouldn't capitalize on it to exploit people.

Emmyzdon:


Will you just keep quiet Cybertyrant or whatever your name is. If you are a LAPO worker or a desperate person, that doesn't mean you should force what's bad down on people's throat. The loan being given is by the Federal Government and not Lapo. It is Federal Government's money not LAPO's. Nobody came to apply to LAPO for money, Federal Government said open account with and get your money. They shouldn't capitalize on the fact that the Federal Government is using them to disburse the Loan to exploit people. So, allow people to speak up when they are being exploited. You're not the one who is going to help them pay back the loan.

Stephen038:
Pls has anyone received his/her loan from LAPO for those that did their documentation two weeks ago

Epistasis:

I dont think the account has been opened yet.

Bobbyjay001:


Can you believe I visited about 3 branches of LAPO yesterday in Akure, all claimed they don't register people for NYIF loan. Do I have to go to Ibadan to get this done?

Stephen038:
My account has been created

Emmyreal4:
you can transfer to another account, I have transferred mine via app