omowolewa:
Even debtors are not paying, is that not corruption?

Ask LAPO

Omo LAPO dey hear am .

Why doesn't he want to talk about Lagos in this context?

So lack of credit facilities made you turn Lagos to your personal wallet?

How?
This doesn’t make any sense in all senses

Saintinoo:


The things you listed their are so sweet and talk God you said in a developed economy, Nigeria is an underdeveloped country, making loans available for civil servants shouldn't be their priority.

In growth models, there are stages of Economic growth, Nigeria have not reached that stage. What we need now is loans for SMEs and other manufacturers that will boost the economy and create more Jobs, when we leave the stage of take off to stage of mass consumption, then we can talk about credit facilities for civil servants.

Ever heard of "Onward cooperative society" before?.....it was only through their credit scheme, my mum was able to afford a basic 3bedroom house while in active service as a "Teacher"....

Government is still the largest employer of labour in our country today, a credit facility where repayment can be deducted from source( salary) will allow almost everyone to escape the poverty line....You will bear me witness that one of the largest expenditure of an average Nigerian is rental cost, a credit scheme like a mortgage often provide you shelter at a much lower rate that the rent you would have paid for the same building at the same location. It's a win-win situation, you get a roof above your head and Government recoup their profit as interest over a long period of time depending on your means-tested capacity to draw down...

Moreover, my submission was to show how corruption can be fought with credit facilities...A Government worker who can attain a house, a car and still afford to meet his other needs as a result of credit facilities will have little or no reason to indulge in corruption. Most working class people here, don't have more than a house, two family cars and their life to manage and I tell you what, nobody actually need more than that.....

Yes na. When only one man will carry money meant for millions of people in a bullion van.

Tinumbu eyes betrays him. Onye anya ukwu.

Arelyn:
Credit facilities such as Mortgages, Car loans, personal loans, Educational loans etc are certainly the way to go to attain luxury in most developed countries everyone wants to "Japa" to.....Availability of both soft loans and hard loans will reduce dependence on bulky cash transactions; a precursor for corruption) which means individuals only need to find a regular and steady means of paying back a predetermined amount then other secondary needs can be achieved with ease

You can try to deny it but a large number of Nigerians in the diaspora who have a house to themselves today or will buy in future can only achieve it through a mortgage and you don't need to be in the most glamorous of all jobs to own a home in most of these countries because individuals are means-tested before loans are handed to them and such loans are protected with different forms of insurance ( mortgage insurance, life assurance, income protection insurance etc.)

He has a genuine point and liberals like me love to hear alternative solutions to the status quo and not the normal shenanigans our politicians dish out to appeal to emotions. I guess this submission and the widening of the tax bracket are different ideas that are not common for politicians to come up with...

In those economies you mentioned.. What is their unemployment rate?
Secondly what is their minimum wage?

Do you know that 85 percent of Nigerians living inside Nigeria don't even have addresses?

These loan apps that every are complaining of howfar with them? Are they not shutting down?

You don't seem to understand the nation you are from..

Even the guys who loaned funds last year will have to forfeit almost half of their funds due to devastating devaluation..

Make loan available but you don't even pay them their salary.. How dem go take service the loans..


Tinubu you b better mugu

Arelyn:


Do you understand the term "means-tested"....If you carefully read through my submission there was no where mentioned credit facility is available to every tom, dick and harry....We are talking about one of the ways to reduce corruption and credit facility is one of them

There is no need to submit yourself to moral and ethical scrutiny if you know there are legitimate easy way to attain your luxuries..If I want a new iPhone, I don't need to steal from people, scam people or involve myself in other morally destabilising ventures when I know there is a system in place where I can pay as little a means-tested amount over a period of time to achieve it

Means tested.. From where?! Is it not the govt that still pays them?

Example.. If u are giving loans will you give to lecturers that have been out of job?..


Or the Nigerian soilder that Oga will block his salary..


Credit facilities can never fight corruption.. In Nigeria Nigerians will find a way to destroy the system..


Only relevant laws can fight corruption..


Nigeria unfortunately is lawless

Arelyn:


We have them but they are limited to only the big sharks that can afford to pay the excessive interest rate..Accountability is the number one problem but If these measures are targeted at those who receive their salary straight from Government coffers, we will be putting a large amount of people on their path to financial freedom and a good amount of those people won't see the need to indulge in any morally or ethically wrong venture to put a roof above their heads, that way some amount of corrupt practices will be shelved, which was what Tinubu was trying to say in that short clip

I stopped at the bolded since it seems you don't kniow that is already available to them, the problem is the bank charges and the interest rate which is controlled by the inflation rate.
Whichever way you look at it, it has to be well handled else it will plunge our financial institutions into crises. Banks used to do it before but I don't know about now, they used to give their staff loans and deduct from their salaries. IBTC bank used to give loans to individuals with a verifiable and reliable means of income. I don't know if they still do it now., the challenge is ability to pay

lexy2014:


How does availability of credit facilities nip corruption in the bud?

What is the cause of corruption in Nigeria?

You’ve lived in a 3rd world country all your life, so it won’t make sense explaining it to you. Go ahead and vote Peter Obi and his phantom numbers. It’s people that collect advice from mad people that truly fit you guys in that country.

GoldenisSilence:



In those economies you mentioned.. What is their unemployment rate?
Secondly what is their minimum wage?

Do you know that 85 percent of Nigerians living inside Nigeria don't even have addresses?

These loan apps that every are complaining of howfar with them? Are they not shutting down?

You don't seem to understand the nation you are from..

Even the guys who loaned funds last year will have to forfeit almost half of their funds due to devastating devaluation..

I understand your point and relate with your database and address system inadequacy but my submission is entirely focused on Government using credit facilities to reduce the rate of corruption.Government is largely the biggest employer of labour at the present moment, there is nothing wrong in the Government creating a credit facility for those it employs to allow them attain their luxuries as they will be made to pay means-tested amount from their salaries...

Often time what causes people indulging in corruption is the bulk cash system that we operate..You need cash to buy land, you need cash to buy phone etc but if their is a credit system where you can access Government money which you pay back at a means-tested( suitable and convenient) rate, individuals can attain their luxuries...It will be difficult for people in the private sector or unemployed to do this but when theirs is a trusted system on ground, people will key into it..

Spare a minute. Pray 4 Yoruba (Nigeria)
Authority for Vengeance

By the authority Of Jehovah OurHolyFather
who art in Heaven
You are the God of vengeance
Holy God of vengeance,
We call upon your name
Your name is Sacred forever to be kept Holy

HOly Lord
How long will the wicked terrorist be allowed to kill Nigeria Citizens ?
Yes How long will terrorists be allowed to speak with ignorant arrogance over your Authority (Church)
How long will these evil people boast? They kill Yeshua people every day by day, hunting soul thou claim as Yeshua Lamb.

on sunday 5th. of June year 2022 in Yoruba motherLand of ondo state Nigeria terrorist killed over 50 people in a Catholic church while worshipping in the presence of the HolyLord
yes this is pure evil
and this acts of terror continue to this present hour

indeed the Lord will not be mock

They kill innocent widows and children
yes they murder many orphans like me in cold blood
for their Jihad

“The HolyLord is very slow,” they say
why even bother to spare His Worshippers

Arise, Holy Judge of the earth. let Yahshua glorious justice shine forth! in this Evening
Give this evil proud authority what they deserve.


Dear HolyLord Jehovah oppose those who oppose Yoruba Nation.
Fight those who fight every your faithful believers
Put on armor, and take up shield.

Yeshua come down to Nigeria in this evening to see the suffering the Nigerian Government Authority is inflicting on the poor people.

HolyLord Lift up spear and javelin on those who attack Yoruba with violence
Bring shame and disgrace on evil men trying to kill Christians in Nigeria

turn them back and humiliate the authority who want to harm Nigerians.
Blow this terrorist away like chaff in the wind

. Make their path dark and slippery, with the angel of the Lord pursuing them. SouthNigeria did the devil no wrong, but he laid traps to destroy our Glorious destiny

By the Authority Of Lord Yeshua we bind the devil authority afflicting Kemi Afolayan
Yes we the Sons of the HolyLord command the perfect healing of Kemi body in this evening So be it Amen

Copyright
HolyLord Yeshua

Is this not laughable?
One of the grand patrons of corruption is mentioning corruption in a speech.
Nigeria is actually a comedy centre of the world.
In a sane clime, Tinubu would ve been roting in jail for corruptly enriching himself.
Are you talking about drugs?
someby that used drug money to buy Lagos and now wants to use Lagos money to buy Nigeria.
I laugh in Spainish.

lexy2014:


How does availability of credit facilities nip corruption in the bud?

What is the cause of corruption in Nigeria?

If you know that you can get capital to start a business, car and house mougage via a friendly loan facilities and pay back with a friendly interest that covers with long rage to sustain your business in the market place....Then why would you think of stealing or take a bribe?

AnonPoet:

https://www.youtube.com/watch?v=LnmWg5wZp20

Asiwaju spoke extensively on widening the tax net to include people like himself instead of increasing VAT and ensuring that credit facilities become a thing in Nigeria if we are to truly nip corruption in the bud. He had earlier maintained this same stance in his 9th colloquium https:///JZjWRGpTN1

https://twitter.com/Mario9jaa/status/1538161123110924289?t=xrNwXB1nxwlwR_d87Tj-Dg&s=19

Now that is a real solution....not quoting outdated statistics of other nations.....the credit system is what makes western nations attractive....remove it and it will be just like present day Nigeria.....

As long at the institutions are robust to make it work Nigerians may finally see the joy of living

For instance, buying a house will not require you to pay have and pay the whole cash but take a mortgage based on your credit history. Same for car, education etc.

Then the gap between the rich and the poor will be non-existent because everyone is able to enjoy the same things largely. So whether you took your car on credit or bought it with cash everyone gets the access to own a car, so no big deal except in the type of car. Then people who are not thieves will not need to steal out of pressure to survive or enjoy the good things of life.

Hope you gerrit now.

Samskid310:
Lack of credit facilities as how?
Is Lcredit a joke to you

Aufbauh:
This man really sabi economics.
If not for his age/health concern to me, non of the presidential aspirants is close to him in capacity and deliverables.

No one thought of this as deterrent to corruption even in the past. This is a classical case of thinking outside the box by BAT.

simply shows how naive you are. Between you and our politicians Who are corrupt in this country? And between you and our politicians who need credit?

mycar:

I stopped at the bolded since it seems you don't kniow that is already available to them, the problem is the bank charges and the interest rate which is controlled by the inflation rate.
Whichever way you look at it, it has to be well handled else it will plunge our financial institutions into crises. Banks used to do it before but I don't know about now, they used to give their staff loans and deduct from their salaries. IBTC bank used to give loans to individuals with a verifiable and reliable means of income. I don't know if they still do it now., the challenge is ability to pay

Thankfully, you and I agree there is a possibility and I know it was there many years back but the banks are their for profit as they are privately owned, so their interest rates are high... I know of these not for profit organisations such as the building societies and credit unions in UK and Ireland established by individuals bonded by similar interest and partly subsidized by Government to ensure the delivery of these credit facilities at a competitive rate better than that of the bank's rate...We have cooperative societies in Nigeria that are doing exactly the same thing but they are only member funded and they provide credit facility like mortgages and the likes

phemmyfour:
Millions my foot!

Olodo
Go back and read my post

Those employed cannot afford credit facilities with their peanut. Graduates are out there chasing Npower 2yrs contract program

You lost it more and more. Listen to yourself even if you don't have data you can use your head to capture some few things. How many workers do you think FG is paying? + 36 states + private companies+ SMES owners + Artisans? Must you be working for someone b4 you can have access to credit. Are u not exposed to know that you can get credit even as student.

matrix199:
Tinubu keeps giving old age bad impression.

Hhahahahaahaahahha
Hahahahhah

AnonPoet:

https://www.youtube.com/watch?v=LnmWg5wZp20

Asiwaju spoke extensively on widening the tax net to include people like himself instead of increasing VAT and ensuring that credit facilities become a thing in Nigeria if we are to truly nip corruption in the bud. He had earlier maintained this same stance in his 9th colloquium https:///JZjWRGpTN1

https://twitter.com/Mario9jaa/status/1538161123110924289?t=xrNwXB1nxwlwR_d87Tj-Dg&s=19

and they say this man is intelligent!
Am utterly disappointed.

Firstly, those that engage his party in vote buying, do they look like people who can make a credit system work?

GoldenisSilence:



In those economies you mentioned.. What is their unemployment rate?
Secondly what is their minimum wage?

Do you know that 85 percent of Nigerians living inside Nigeria don't even have addresses?

These loan apps that every are complaining of howfar with them? Are they not shutting down?

You don't seem to understand the nation you are from..

Even the guys who loaned funds last year will have to forfeit almost half of their funds due to devastating devaluation..

His comment was aimed mostly at public service. Government is the largest employer in the nation and those employees definitely have addresses and would hardly ever default on loans. Even if they expanded it to the public at large, the NIN implementation and BVN will shut down most people's willingness to scam loan companies. It is one thing to scam loan apps, it is another to scam the government.

lexy2014:


How does availability of credit facilities nip corruption in the bud?

What is the cause of corruption in Nigeria?

You dey mind the idiot...
The causes of corruption will help us in finding the solutions..

Our constitution is one of the major cause of corruption....
Na that book dey enrich this fools called politicians

Arelyn:
Credit facilities such as Mortgages, Car loans, personal loans, Educational loans etc are certainly the way to go to attain luxury in most developed countries everyone wants to "Japa" to.....Availability of both soft loans and hard loans will reduce dependence on bulky cash transactions; a precursor for corruption) which means individuals only need to find a regular and steady means of paying back a predetermined amount then other secondary needs can be achieved with ease

You can try to deny it but a large number of Nigerians in the diaspora who have a house to themselves today or will buy in future can only achieve it through a mortgage and you don't need to be in the most glamorous of all jobs to own a home in most of these countries because individuals are means-tested before loans are handed to them and such loans are protected with different forms of insurance ( mortgage insurance, life assurance, income protection insurance etc.)

He has a genuine point and liberals like me love to hear alternative solutions to the status quo and not the normal shenanigans our politicians dish out to appeal to emotions. I guess this submission and the widening of the tax bracket are different ideas that are not common for politicians to come up with...

Arelyn, you are very on point with your intelligent submission.

@the bolded; they're not only uncommon to the politicians but also to majority of Nairalnders who have been abusing him for what they don't understand.

His age is what I'm concerned about. For me, it's the only downside.

AnonPoet:

https://www.youtube.com/watch?v=LnmWg5wZp20

Asiwaju spoke extensively on widening the tax net to include people like himself instead of increasing VAT and ensuring that credit facilities become a thing in Nigeria if we are to truly nip corruption in the bud. He had earlier maintained this same stance in his 9th colloquium https:///JZjWRGpTN1

https://twitter.com/Mario9jaa/status/1538161123110924289?t=xrNwXB1nxwlwR_d87Tj-Dg&s=19

Who is EFCC Magu? I hope he is in Nigeria

hush15:
and they say this man is intelligent!
Am utterly disappointed.

Firstly, those that engage his party in vote buying, do they look like people who can make a credit system work?

In that case why did GSM work, why implement BVN, NIN etc? Vote buying has been in existence since 1999, nothing new. Man was talking about how avergae civil servant cannot afford to buy a house on their salary and why they must turn to corrupt ways in order to afford basic shelter. Wahala plenty for 9ja, no president can solve corruption but at least they should not be as useless as Buhari.

olusma23:


Also all these Loan institutions in Nigeria needs to reduce their interest rate to atleast maybe 10% per annum.

E.g Imagine a loan of 100,000 with interest of 30,000 in just a month is so crazy.

Reducing interest rates will make the naira lose value and most Nigerians don't like that.

GoldenisSilence:
Make loan available but you don't even pay them their salary.. How dem go take service the loans..


Tinubu you b better mugu

Which salaries Tinubu dey owe?

abbey621:
His comment was aimed mostly at public service. Government is the largest employer in the nation and those employees definitely have addresses and would hardly ever default on loans. Even if they expanded it to the public at large, the NIN implementation and BVN will shut down most people's willingness to scam loan companies. It is one thing to scam loan apps, it is another to scam the government.

Please can you share this statistics source. Thanks

someone taught him this thing

Aufbauh:
This man really sabi economics.
If not for his age/health concern to me, non of the presidential aspirants is close to him in capacity and deliverables.

No one thought of this as deterrent to corruption even in the past. This is a classical case of thinking outside the box by BAT.

With this broken broke economy
Or which one
The question is how do we generate fund not about corruption, the economy is broke