AntiMarxist:
Larry Fink is ruling Nigeria .

President Tinubu no be everything from BlackRock you go take.

This is pure Jewish ursury that only ends up bankrupting society .

The student loan thing is pure evil .

Yet there are many people in the comments thanking Tinubu for this. They can't see past their noses.

UncleAyo:
A welcome development



https://nta.ng/2024/04/24/president-tinubu-approves-takeoff-of-consumer-credit-scheme/

Tinubu is like the devil.
The devil will never give you anything for free.
When he gives you one, he takes two in return from you.

shugamummy:
Which work will you be doing to prevent you from defaulting? Think deep before you respond oo

Well to start with, nobody is forcing you.

Also mortgage payments are done iver 30-35 years, so that is a long time.
So people pay money they would have paid towards rent as mortgage instead.

You need a steady income to enjoy this.
If you default, it affects your credit score and the bank can also reclaim the property.

About the job you need to do to enjoy this?
Anybody in the middle class should be able to.

meum:
A country without proper data of her citizens? Let’s see how it goes


Think before you quote me.

Didn’t you see the report where people have been reported with two(some multiple) NINs? Go & look for that news

Do the unbanked in the society have BVN?

Most people with BVN are experiencing issues with mixed up data.

Even the network providers & banks are still asking their subscribers/customers to come & update their numbers/accounts with information that was already given to them years ago.

Is that what you call proper data in a country? Next time think before you quote any comment.

Your argument is a zero sum argument. Even if Nigeria has only 5m people with ID, the project is worth starting. We don't have to cover everyone before it starts. Kinks will be ironed out, teething issues will be addressed. That's how robust projects are built.

As of December 2023 104m Nigerians had NIN. If that's not a good enough figure to start, I don't know what is.

Someone should just summaries this coz I don't even understand

Blaze14k:


I just told you banks are doing that already.. this is simply a mortgage scheme for everybody to access. I run a business and I know how these things work. It's a mortgage stop trying to confuse yourself

Mortgage refers to Real Estate, stop arguing what you don't know.
On the other hand this one is about everyone using a credit card like in developed countries, this is different from ATM which is a debit card, you must have money in your account to use your ATM card but with this one you can buy goods with it and pay instalmentally, everybody will have a credit score depending on how good they perform in repayment, this credit score will be very important because it will be considered before you can access more credit facilities and other organizations that want to work with you will consider it to determine your credibility.

vannessa7:


Mortgage refers to Real Estate, stop arguing what you don't know.
On the other hand this one is about everyone using a credit card like in developed countries, you buy goods with it and pay instalmentally, everybody will have a credit score depending on how good they perform in repayment, this credit score will be very important because it will be considered before you can access more credit facilities and other organizations that want to work with you will consider it to determine your credibility.

How many times will I say that banks do this already. Besides mortgage is not all about real estate.

BreconHills:


Your argument is a zero sum argument. Even if Nigeria has only 5m people with ID, the project is worth starting. We don't have to cover everyone before it starts. Kinks will be ironed out, teething issues will be addressed. That's how robust projects are built.

As of December 2023 104m Nigerians had NIN. If that's not a good enough figure to start, I don't know what is.

You guys always rush to google to get figures. 104m with NIN abi? National Identification filled with double registration & mistakes with the data. I still maintain we need to work on our data because it’s not good enough. The idea might be a good one, however, if it must work well, we need to get our database right

meum:

You guys always rush to google to get figures. 104m with NIN abi? National Identification filled with double registration & mistakes with the data. I still maintain we need to work on our data because it’s not good enough. The idea might be a good one, however, if it must work well, we need to get our database right

No sir, no database is fool proof. The NHS database in the UK has been hacked many times, there are even cases of people collecting benefits using identities of others. In spite of this the NHS has not stopped working for a second.

Data scrubbing, cleaning and usage go hand in hand. BVN registration as of March 2024 is 61 million plus. Triangulate NIN, BVN and you get significant data verification.

Nigeria has started from somewhere no matter how modest.

BreconHills:


No sir, no database is fool proof. The NHS database in the UK has been hacked many times, there are even cases of people collecting benefits using identities of others. In spite of this the NHS has not stopped working for a second.

Data scrubbing, cleaning and usage go hand in hand. BVN registration as of March 2024 is 61 million plus. Triangulate NIN, BVN and you get significant data verification.

Nigeria has started from somewhere no matter how modest.

You seem to forget that this is Nigeria where data scrubbing, cleaning and usage aren’t done. Embarking on new registration is more profitable for our leaders because it’s an avenue to enrich themselves. If you’ve not heard about the new NIMC registration with payment integration then go look for it.

From National ID card to BVN to NIN yet if a need for data arises there is limited information available

AntiMarxist:
Larry Fink is ruling Nigeria .

President Tinubu no be everything from BlackRock you go take.

This is pure Jewish ursury that only ends up bankrupting society .

The student loan thing is pure evil .

I grab what you are saying,but without this have we fared any better??

meum:
A country without proper data of her citizens? Let’s see how it goes


Think before you quote me.

Didn’t you see the report where people have been reported with two(some multiple) NINs? Go & look for that news

Do the unbanked in the society have BVN?

Most people with BVN are experiencing issues with mixed up data.

Even the network providers & banks are still asking their subscribers/customers to come & update their numbers/accounts with information that was already given to them years ago.

Is that what you call proper data in a country? Next time think before you quote any comment.

You can’t benefit from the scheme unless you have a regularized account, it is simple, this will encourage people to do the needful to be able to access the credit, why do you guys criticize policies without giving it a chance to kick off first? besides, it’s not for everyone!

Good development. And in addition to all the hopefully achieved economic benefits, Nigeria can leverage credit scores and history in its drive to document and record Nigerians in database.

erumena:


You can’t benefit from the scheme unless you have a regularized account, it is simple, this will encourage people to do the needful to be able to access the credit, why do you guys criticize policies without giving it a chance to kick off first? besides, it’s not for everyone!

I’m not against the policy. I’m annoyed with the system. It’s not for everyone you said? Wait until you apply for it with your BVN or NIN & they tell you it was unsuccessful because your data on the online application form doesn’t match your BVN/NIN records or your BVN/NIN records can’t be found.

Credit scheme for country wey goods and services no even dey available?
Fuckinnng clown of a fake president.

Melagros:
COMRADES, this act will not benefit a common man in the streets

Not surprised with your comments. Most obidients are illiterates.

Thank you for educating me. Please I heard you mentioned middle class, also educate me which class of jobs exist today in the present Nigeria that you classified as middle class. How many persons go home every month with a salary that's more than the price of a bag of rice? How many of them can afford to buy foodstuffs, and feed comfortably without borrowing till month end? And and at same time have 45k left to pay for mortgage every other 4 weeks? Are we being insensitive to people's plights or what?

HBB1:



Well to start with, nobody is forcing you.

Also mortgage payments are done iver 30-35 years, so that is a long time.
So people pay money they would have paid towards rent as mortgage instead.

You need a steady income to enjoy this.
If you default, it affects your credit score and the bank can also reclaim the property.

About the job you need to do to enjoy this?
Anybody in the middle class should be able to.

shugamummy:
Thank you for educating me. Please I heard you mentioned middle class, also educate me which class of jobs exist today in the present Nigeria that you classified as middle class. How many persons go home every month with a salary that's more than the price of a bag of rice? How many of them can afford to buy foodstuffs, and feed comfortably without borrowing till month end? And and at same time have 45k left to pay for mortgage every other 4 weeks? Are we being insensitive to people's plights or what?

Nobody if forcing you oga.

If you don't want it, then don't take it.

Only a very uninformed person will despise credit.
Europe and America run on it.

Your alternative is to hustle to build a house for 30 years and hope to God you don't die soon after moving into it.

What I am literally saying is that the jobs you used to classify as middle class in the 90s have literally disappeared. Unless you are a politician, yahoo boy, or drug Lord. How many persons means of livelihood currently depends on monthly salary. If you cite America at least cite their minimum wage and compare and contrast. Even avergae Bank workers can't afford to build a 3 bedroom bungalow in this country with with with their salary. Let's admit that things have literally gone from bad to worse so we can stop digging more holes while inside the pit

HBB1:


Nobody if forcing you oga.

If you don't want it, then don't take it.

Only a very uninformed person will despise credit.
Europe and America run on it.

Your alternative is to hustle to build a house for 30 years and hope to God you don't die soon after moving into it.

shugamummy:
What I am literally saying is that the jobs you used to classify as middle class in the 90s have literally disappeared. Unless you are a politician, yahoo boy, or drug Lord. How many persons means of livelihood currently depends on monthly salary. If you cite America at least cite their minimum wage and compare and contrast. Even avergae Bank workers can't afford to build a 3 bedroom bungalow in this country with with with their salary. Let's admit that things have literally gone from bad to worse so we can stop digging more holes while inside the pit

Doctors, Bankers, Engineers, mid-level civil servants...are middle class.

About mortgages, if you an afford rent, you can afford your mortgage payments.
You only need to save towards your deposit.

This scheme (for starters) is made for civil servants, which is admirable.

Or what do you suggest?
People should start building their houses in their 50s or 60s?
Do you know what the life expectancy in Nigeria is?

Please make it make sense naw

I am telling you that the so called Engineers have nothing to Engineer, banks have no money to bank apart from politicians and people don't go visiting doctors when they are sick anymore due to price or Augumentin rising to 52k. There is no one in the civil servant whose take home is 60k or below that does not owe the next food vendor in the neighbourhood. Get the message, the people are so poor that they can only hope to feed from the crumbs shared by politicians every election cycle. How many people in your neighbourhood have paid their house rent and electricity bill in the past 3 years peacefully and on time?

HBB1:


Doctors, Bankers, Engineers, mid-level civil servants...are middle class.

About mortgages, if you an afford rent, you can afford your mortgage payments.
You only need to save towards your deposit.

This scheme (for starters) is made for civil servants, which is admirable.

Or what do you suggest?
People should start building their houses in their 50s or 60s?
Do you know what the life expectancy in Nigeria is?

Please make it make sense naw