thebosstrevor1:


A credit system is not a good system and also not good for the country's balance book

if we have a credit system that also means more debt for the government because they have to continue printing money to give bank access to cheap money at the end of the day, the bubble will go bust and you end up becoming more poorer and debt slaves

FFS!

You know what? Just stick to political arguments please.

Freethinker87:


FFS!

You know what? Just stick to political arguments please.

i am so happy you wrote this because it shows you know nothing about a credit based system.

a credit based society brings about a credit, business and financial cycle, that is why the world is in a global financial crisis today.

you are more prone to default due to shock and contraction of the credit based system

thebosstrevor1:
The loan apps promising free money and so called low interest captivated many poor Nigerians, they became debt slaves to the loan apps, Now Tinubu want to totally enslave us with debts and make the bankers more richer, create a banking dynasty and make debts be able to pass on from generation to generation, while the bankers milk us all dry.

I know many Nigerians love that credit system even without understanding that forever they will be slaves to the bankers and government whose hope is to lower your standard of living and make sure you are a slave to them.

just shut up, it is better I collect loan to build my house than reaching 60 years without a house.

ElSudani:


Eeyaa, you don't know what credit rating is all about. Credit rating doesn't mean you have to take any loans. It is just a rating system to determine if you are credit worthy or not.
If your credit rating is bad it is either you don't get a loan or you get one at very high interest. If your credit is good you get a loan at more favorable rates.

So what is cassava and agbado rating?

Reinaldo:


So what is cassava and agbado rating?

That is how long you can survive on mkpurumiri without food.