Ok

What I’m still baffled about is why these guys always opt for taking loans first. Why not think of how funds can be generated. Can’t these guys be innovative?

They don't need to drag with them... Let it be deducted from their monthly allocations governors are one of the problems of this country

Hotshisha:





VP Osinbajo must keep shut on this with all due respect


Governors must pay back this loans and bail out funds

That Obaseki must payback every penny FG gave him, especially before Edo election

Hell Rufai must pay since he is busy sacking innocent workers

Osun, Kogi, Abia and Imo State must explain what happened to the bail out funds, Paris loan refund and loan taking. After all they never paid workers salary or pensioners

.

You need brain examination because e be like say your head no correct

WorldRichest:


You need brain examination because e be like say your head no correct

You wey your head correct go take loan and no pay back and see what happens

These governors nawa for them ooo
Pay minimum... Majority said no.
We are hearing now that they are recommending well above 300naira per litre of petrol.
Now again they don't want to repay their loans...

Watch it, if the CBN doesn't shift stance..the governors will support increment of pump price to above #300/l and encourage multiple taxes on their citizens just to make up the allocation.
They have nothing upstairs to think of revenue generation.

If the CBN shifts, the bulk of the money will be paid by the next adminstration since majority of the governors are second term in office thereby leaving the next adminstration with little to use for project implementations and funny enough these same governors will still be the one to call out their successor for their inability to carry out capital projects...


Nigeria na comedy centre......

Seniorwriter:
Budget & loan repayment that can't translate to economic or better lifestyle for the citizens. SMH @ these Charlatans!

Very anyhow leaders.


We need young visionary leadership.

@SeniorWriter

Let me tell you something. Central Bank of Nigeria grants loans to all sectors. These loans are disbursed through micro finance banks. The policy is it must be a single digit interest per annum. So, the highest one pays is 9% per annum.

One guy approached me to help him with business plan to apply, and I did. All for him to tell me to be a guarantor for the loan. Of course, I didnt mind at first. I made a 5 million naira plan and he said his contact in the micro finance bank asked him to make it N10 million request. I was shocked. "But you don't need up to that amount", I told him. And then he started telling me that his contact will deduct 1 million naira for himself from it as bribe, meaning he is left with N9 million. I was shocked. These are same Nigerians complaining they cannot pay commercial banks 20% after one year. But can pay 10% of the loan upfront before taking the loan, and then carry over 9% compound interest. Nigerians like people who will exploit them. The term "national cake" is loud in most financial organizations.

I made further research and realised that these loans are not paid back. Osinbajo is just wasting his time formulating useless strategies and granting loans here and there. This is why Buhari is going back to collect more loans when he has no way to check what he is spending. This Buhari is a curse. I pray the next president is not APC so Buhari can be jailed. The man is highly incompetent. Buhari needs to be jailed again. Imagine people are praising IBB for kicking him aside in 1985, and even blaming him for not blowing his head off with Ak47 so we dont face this calamity called Buhari again. I think IBB messed up. By now, Buhari should be manure for our crops instead of this problem we are in.

Bro, Nigeria is seriously bleeding. The person who takes over after Buhari is in serious problem. This Buhari has finished Nigeria. I am telling you. It is not that bad under Jonathan. Buhari is a cur.se to Nigeria

Vice president yemi Osinbanjo is the most vibrant personality in the president Muhammadu buhari administration....

Let the lazy governors pay back immediately. No need for any intervention.

PeaceJoyLove:


Let me tell you something. Central Bank of Nigeria grants loans to all sectors. These loans are disbursed through micro finance banks. The policy is it must be a single digit interest per annum. So, the highest one pays is 9% per annum.

One guy approached me to help him with business plan to apply, and I did. All for him to tell me to be a guarantor for the loan. Of course, I didnt mind at first. I made a 5 million naira plan and he said his contact in the micro finance bank asked him to make it N10 million request. I was shocked. "But you don't need up to that amount", I told him. And then he started telling me that his contact will deduct 1 million naira for himself from it as bribe, meaning he is left with N9 million. I was shocked. These are same Nigerians complaining they cannot pay commercial banks 20% after one year. But can pay 10% of the loan upfront before taking the loan, and then carry over 9% compound interest. Nigerians like people who will exploit them. The term "national cake" is loud in most financial organizations.

I made further research and realised that these loans are not paid back. Osinbajo is just wasting his time formulating useless strategies and granting loans here and there. This is why Buhari is going back to collect more loans when he has no way to check what he is spending. This Buhari is a curse. I pray the next president is not APC so Buhari can be jailed. The man is highly incompetent. Buhari needs to be jailed again. Imagine people are praising IBB for kicking him aside in 1985, and even blaming him for not blowing his head off with Ak47 so we dont face this calamity called Buhari again. I think IBB messed up. By now, Buhari should be manure for our crops instead of this problem we are in.

Bro, Nigeria is seriously bleeding. The person who takes over after Buhari is in serious problem. This Buhari has finished Nigeria. I am telling you. It is not that bad under Jonathan. Buhari is a cur.se to Nigeria

I'm not surprised...i run an outfit that helps street traders or small scale entrepreneurs secure loans from two of my Microfinance clout.
We get the repayment of the loans because they are closely monitored unlike the incompetent VP method of giving unscrupulous random tradermoni created for massive looting sake....i can assure you that CBN gave most of the allotted Funds to the all time Corrupt Government officials through those microfinance banks...very little gets to the public space so that #10m your person got is like a drop of water from the ocean.
These people allocate in Billions so imagine how much has been already misappropriated before peanuts are allowed to reach the public or citizens that already are exposed to the chop I chop syndrome of the past & present clueless administration!

Nigeria needs young visionary leaders.
Once we have that forget about the debts owed...money is easy to accumulate when there is constant inflow and proper money management policy in place.
We have the natural and human resources to pay up in just 2years.
We generate billions of naira daily from tax and commercial activities.
Let me give you an insight: Lets assume we have an active population(working / earning class) of around 20million out of the postulated 200+millions...if each person buys a recharge card of #100 daily the telcos are mandated to remit about #2 to Government...that's around 40million on recharge card alone not to talk of consumables Companies like FCMG firms that have to pay import duties ét al before remittance of a particular tax value for every product bought from them.
Not to bore you our Government makes monies up to a tune of 5 -10 Billions on a daily but most of it is misappropriated in the past and this present clueless useless administration is worse off because they lack visionary technocrats in the helms of affairs and the nepotism in appointment by Buhari has worsen the situation!

However there will be hope if we as youths can in our little way exercise our voting rights on a credible young visionary leader from any party.
We need to go for scrutiny of background and positive impacts of the aspirants com 2023!!!
Many young persons are already taking a cue behind YDP (Youth Development Party) and I'm positive they'll present credible aspirants for the major political positions!


@SeniorWriter

Explain.
When you can't even check the spate insecurity in Nigeria.

I beg, Nairalanders, look at my sigy below and see how you can be of assistance in your own small way.
God bless you for caring.

This is very bold step taken by the Vice President to resolve the loan repayment. Personally, I believe the governors should have a proper plan in place concerning repayment of loans. The CBN governor has stated his concern about auditing but why do the governors want a deferment? They should pay and stop this deferment talks.

TheRareGem1:


[s]The same VP that is taking the charge in the matter should keep shut... Abeg if you no read the context, your comment is useless. No offence v[/s]

Shut Up and Be Quiet. Loser!