₦airaland Forum

threadstone:
Bosss caam daan na. In this forum

People will offend you.

People may insult you (MAY)

People will get on your nerves.

But be the bigger dude.

Show us say your name no be feem trick.

Easy tiger.

Oh far from it. I’m neither angry nor offended. I’m just surprised. I won’t recommend or advise someone else what I won’t do.

I have been drawing people’s attention especially those who have not submitted to be clinical and avoid LVO. I don’t want that experience for them. It is a horrible experience and so far only few have admitted it here.

Don’t get caught up with the joyful news of PPR. The duration between when you submit till you get your PPR can be traumatic when your application is in LVO. This is a FACT.

Avoid it!

prideandjoy:
Okay.

I didn't agree with your thoughts doesn't warrant the bolded.

Well I meant no harm but trying to clarify that suspicion means doubts or concerns. Also, getting an ADR from LVO means they have concerns - in fact it is written as the first paragraph

- For us to continue processing your application, please provide the followings -

Kontagious:
I go with this line of thought.

Even if asked for updated POF, I believe you can present the Statement of Account for the period asked, then add the T-Bills certificate. Your statement of account will show the debit for the T-Bills and of course no corresponding credit to show the T-Bills has been liquidated.

If you did 91days from the start, calculate for yourself what you have lost with the money just sitting ideal – well, your bank is silently thanking you for it though. Then imagine what you will be loosing for every day your application is still under review.

Changing the POF does not matter to me so far you are presenting the POF in your name and in acceptable format. To dot all I’s and cross the T’s, you can add a one page letter why you are presenting T-Bills certificate with the SOA. I don’t think you will be penalized for that. My opinion.

cc:Geebaby10

SMH - For LVO to ask you for updated POF means they already have concerns with the POF you previously submitted. In fact, if LVO request for ADR from you, they have concerns and they want you to clear their doubts.

Why would you advise this person to do this? Would you do the same? Have you ever received an ADR from LVO before? I know of someone who submitted POF and claimed he sold land, they asked him to go and get the land deed and the person is still searching for land deed.

Why would you advise someone to do what you won’t do.

prideandjoy:
I disagree with you.

What do you mean by raising suspicion? It's her money and she can 'invest' in whatever she wants as long as it is still available. Problem is that we have misunderstood the meaning of "proof of funds" . It basically means you have money to sustain you till you get a job as a new immigrant - they don't want people borrowing money and being stranded when they relocate and all the wahala that comes with not having money to fend yourselve and family (including stealing lol)

I think a lot of us here either lack English comprehension or are just too quick to react. I have read advice here that those offering it would not implement themselves.

An applicant submitted POF as Fixed deposit certificate and in the case LVO requires further proof, he/she resubmit the same POF as Tbills certificate, would that not raise suspicion? In case, you lack some English comprehension, suspicion does not literally mean rejection but doubts, which can necessarily be cleared by proper explanation.

To the affected person, please hold one a little bit. Immediately you get you PPR, nobody can ask you nothing again. You can utilize your money the way you want. When someone advises you to do this; ask them if they would do the same.

PS - Proof of fund is documentary evidence of availability and ownership of fund and when the documents previously submitted changes - it should raise suspicion.

geebaby10:
Hello I'm currently on NA2 (since 16 August) and my file is at LVO.

My question is this. I used fixed deposit for my POF. Can I invest that money in t-bills now? I know that people can use t-bills from the start but I am not sure if it makes sense to change the structure of my POF now given how annoying LVO can be to request for updated POF.

At the same time I didn't expect my application to last this long and I am loosing money by allowing funds just sit in the account earning almost nothing.

Fixed deposit should earn you interest. To address your concern, leave the money in the nature and form in which you submitted proof. Changing it to Tbills and LVO requesting for further proof may raise suspicion.

Hang in there. It’s possible you are yet to reach the average minimum of 6 months. LVO will respond and they do usually within the average of 2 - 3 months after they receive your application.

I have reviewed my post that created a lot of backlash and identified the reason. I should have use the modal verb “may” but rather erroneously used “will” expressing certainty - which isn’t my intention. Whilst I am not angry, I wish to apologize and I understand the reason for his/her outrage. I’d probably react the same, maybe not in entirety, but would express some sort of displeasure.

However, in order to buttress my point, it is preferable to go above the minimum requirement to avoid unnecessary scrunity. The ADR trends issued by LVO recently tend to follow a particular order and many applicants tend to find it frustrating and traumatic.

I remember earlier on that there was a huge debate about POF and whose account the amount should be domiciled in (PA or Spouse, if necessary). That debate was bitterly argued and even IRCC was brought into the picture and the misunderstanding was corrected in August 2017. Now, POF can also be in the account of accompanying Spouse. Why I cited this example is to show that IRCC keeps updating their requirements and that their requirements isn’t even cast in stone. However, when you read their code of practice which specifies what each program assistant, case analyst and visa officer should do, you begin to get a clearer overview. I encourage everyone to download it. It is on their website.

Finally, reviews are carried out on the uniqueness of an application. That is why some application go to Local Visa Office for further review and others proceed to Ottawa and are churned our quickly. Hence, it is not ideal to base your application on the advise of a previous applicant. Whilst the applicant may provide a generic framework, the outcome may not be the same.

dfanz:
I had UK refusal, got schedule ADR but was processed in Ottawa.

I have come to realise that there are no rules with CIC.

Schedule A is not for Visa denial. It is for personal history. The reason you got schedule A as ADR was because there were gaps in your personal history dates

MissAG:
Hi guys, I am a silent follower and have submitted my application but have a few questions
1. Is it every person that was refused a uk visa that is transferred to LVO even though the said visa was later given and I have gotten two other visas since then.
2. My husband also had a UK student visa refused but has gotten other visit visas, will our application be transferred to LVO because of this even though I am the PA
3. Is a Schedule A form always requested when one has a refused visa?

Apparently, a majority of applications transferred to LVO were denied a Visa at one point in their life. Honestly, it is not 100% conclusive, but based on simple narration, it appears Visa denial may be one reason. Another reason may also be long involvement or contractual involvement with entities in the United Kingdom. That’s may also be another theory. Which ever the case, LVO is know for thorough review of applications.

Schedule A is not necessary for Visa denial. In fact Schedule A is primarily for personal history of addresses for 10 years and the reason why people get Schedule A as ADR is because they have observed gaps while you were filling in your personal history.

There is a Statutory Declaration form where you swear and that is where you are asked if you have ever been denied a visa. If you choose No and actually the answer is yes, that’s a serious offense and may attract a 5 year ban on all Visa classes in the future.

If you have been denied a visa in the past, state the reason, the type of visa (student, tourist or medical visa), the date you were denied (if you can remember) and if possible the attached the letter of denial to your application on the LOE row.

PefHouse:
Hi Boss13,

The bank account statement for POF I intend to use is different from the account were my salary was paid (reflected by work payslips I would present), is this ok?

That’s not a problem. The request for salary account is just additional proof to show that you either work in your company - this is mainly for Eligibility

Your POF can be in a separate account (your personal account). Submit the 6 months statement. If there are any huge inflows, explain them via LOE.

Rather than submitting salary account, it’s preferable to submit payslips. Payslips also indicates that at certain points during your employment, you received a certain sum of money and some deductions such as NHS, Tax etc were deducted.

PefHouse:
Ok Thanks.

Lastly, can I hire someone say in the uk, to help me request for the information, do you think this is far fetched considering its over 6yrs ago.

Do you know of anyone that can help?

Can the person get you the information? If it is Canada house, London, I doubt if they would allow such person access. Access to the embassy is very limited and only on an invitation basis.

If you cannot remember the reason, don fret. Indicate you were denied a Visa, state the type of visa and include you cannot remember the reason for the visa refusal. But if you can remember the date, include it and if you can’t remember, don’t fret either.

dupyshoo:
I agree with this line of thoughts.

That's why I always advise people to submit bank statements that show one's salary. The fact that someone submitted only FD/Tbills and got quick PPR does not mean everyone will be that lucky. The sample of applicants we see/hear about is small.

I know of some people that London VO called for interview and were asked about their jobs. Some people were even asked to submit photos. So, everyone should be prepared for ADR, which in my own opinion is not bad.

However, I won't advise too much docs as well as it can be counter productive. Submit reference letter and pay slips (if you can). If you are asked for ADR, provide the required information. If you can't provide the docs required, make sure you provide alternative docs and good reasons why you can't provide the required information.

I am glad you are aware that some applicants were asked to send pictures of themselves in their office. Hence it is not a hogwash. Even some applicants were asked to submit wedding and family pictures. When you see these requests, you wonder where they are driving at with this. Typically it exposes the uniqueness of each application.

I am afraid to say that too much documentation is not counter productive. If you have a fantastic scanner that can reduce the resolution of document, but still in readable format; please attach as many supportive documentations you can find to support your application. For instance; paystubs/payslips supports your claim as a genuine in terms of employment- it shows that you received monthly payment from your company and likewise monthly deductions as tax. Employment letter also justifies when you started employment and supports the reference letter. If you are fortunate that your employment letter and reference letter were signed by the same person, you definitely remove all doubts in terms of Eligibility and Work Skills.

PefHouse:
Thanks. So can I give a range of options as my reason for denial, It is limited to one of three reasons can I state all 3reasons and say its one of these reasons?

Yes state them concisely, if you can remember the date include them. After that, worry not.

temitope06:
Morning guys, please read this especially those that haven't submitted their applications. Boss13 stretched his opinions a bit to the panic causing state but he's telling the truth. The idea with every aspect of your application is to convince the VO beyond reasonable doubt that you are telling the truth. The picture taking part is very far fetched but i'm telling you that if you submit only a Reference letter and your application ends up in the London VO office, chances of them asking for adr is 80%. I am in a London whats-app group and a lot, i mean a lot of ppl were later asked for payslips, tax clearance and account showing salary deposits including me. A lot were asked for 1 year of payslips and salary deposits, over 50 ppl have been asked for this which i know of. I was even asked to resubmit a more recent bank statement so they can ascertain that my gift deed was not a fugazi. London VO don't mess around o. This is not to put ppl in panic mode but this is the reality, try and submit payslips along with salary deposits if you can, believe me it will make you sleep better. Some timelines here are very lovely, 19 days, 2 months etc but London VO? 8 months full there, the average is like 6 months, my ppr came at 5 months plus and ppl were saying it was fast. I can't even begin to talk abt ppl's cases here cos i'm not authorized to do so and they will know it's me. Bottom line is be proactive, be ready, if you're not asked, lucky you but be prepared.

Thank you Temitope. They won’t understand till they finally land there. You know I don’t know how to be pretty with words. I just can’t mince words.

hiscules:
Boss13 are u for real or are you just seeking attention?

CIC requirements are not that burdensome nau.

Why my brother ,why?

I am not an attention seeker. I don’t need it. I have friends who are currently unhappy and I don’t want that number to increase. If I can say something to assist - why not.

I would have loved to screen shots messages but it is unethical and a violation of their privacy. Some of them are here too and some are still in denial that thorough review is being carried out on their application.

bigfido:
Sir, I am self employed and it is boldly written on CIC's website that the bolded document is what a self employed person should submit. I did over syllabus sef with it (but I did not submit pictures in the office and in front of our company sign and commendation letter and my clients hugging me letter) by submitting tax clearance and vat certificates. Today is day 51 post AOR. Submitting what is required by cic is the priority. It is that simple. Stop giving people who have done the right thing heart attack. My friend that submitted just reference letter from his dad's chamber where he works without website ati bebelo got ppr in 21 days. It is not cast in stone. Stop this panic reaction you are giving people. It's unfair to say the least.

Sir, you should be able to separate sarcasm from holistic picture. I was only elaborating on being clinical. I know people who submitted pictures (nothing wrong with that other than it being funny).

My intention is not to create panic as I have seen that those who have submitted are a bit worried and honestly my advice is actually not for you - you have submitted and it is out of your control. It is meant for those who are in the process of submission. Hence I think it is obviously wrong for those who have submitted to critique.

Those who have not submitted have a choice. They can choose to be clinical or do otherwise, but to tell them to do as you do - IS WRONG. For example, your friend is a lawyer and works in a chamber as an employee. You, probably a lawyer working for yourself - Both your application are very different.

IRCC continues to insist that each application is unique and decisions are made based on the uniqueness of the application. I have painstakingly downloaded the IRCC code of practice and read a large amount of it (it is on their website). The validity of your application is strongly based on their requirements and supporting documents made available and where there are obviously doubts, additional documents will be required and other methods utilized to reach a decision.

In conclusion, especially for those who choose to read and interpret differently, all I have been saying is to avoid stress and emotional trauma; package your application clinically in order to get your PPR within the shortest possible time. Please note that I never mentioned that those who are delayed will not get PPR, but that waiting period is a traumatic experience, where a lot of people begin to question their God.

The Immigration Minister has recently released his plan for next year with the view of reducing the processing time. This is also evidenced by the lower period of having medical pass and some applicants are getting their PPR within 2 weeks. As at now, the average time for processing normal application is 3 months. Any thing other than that moves to various Local Visa Offices for further review. Please save yourself from such situation.

Cheers!

behati:
I actually thought you were being sarcastic with your original post. Boss, this is not the TRUTH. A reference letter in CIC format is very sufficient for this process. If you feel like adding extras, that's entirely up to you.

What is a CIC reference letter format? Are you aware people submit reference letter in plain sheet of paper and they still get PPR. The first thing is to understand the purpose of the reference letter and on the account of reading some many GCMS notes from multiple applicants from different countries; it is prove your A11.2 - Eligibility. To show that the work skills depicted in that reference sheets is actually true and comparable to the applicant NOC; adequate.

Submitting only reference letter may be sufficient for an ExxonMobil staff but not sufficient for an Ade & Sons Limited staff for eligibility purpose. Both companies are different in terms of reputation. So telling an Ade & Sons limited staff to submit only reference letter to justify his/her eligibility would be grossly insufficient.

It is equally the same as asking a self employed individual to submit only reference letter without supporting it with business registration documents, tax clearance, payslips and a sample of invoiced document (to show the work he/she has done in the past).

4wearegreat:
Please let us endeavour to avoid use of derogatory words . . . . . . .none of us here is a skilled/expert VO. All advice are based on individuals experience, perception, research and interpretation of details.

Thus whilst some people comment may contradict your position, that doesnt make them wrong, nor make your position right.

Boss13 only proffered her own 2cent. the final decision as regard the documents to submit is up to each individual.
using derogatory words could discourage others from making valuable contributions.

Whilst I thank you for coming to my defense, I am not mad at that. It’s a typical Nigerian weakness of not owing up. I do not wish him ill.

I am saying this because I have seen firsthand the emotional trauma this experience can create. The first shock is when 50% of your AOR group getting PPR and no significant movement in your application. The next shock is to realized that your application is still residing at CIO for 3 months and they are not willingly to talk to you.

Avoid these stress and be clinical. That your friend or neighbor said reference letter was sufficient for him/her doesn’t mean it will be sufficient for you. Every application is unique.

Your friend or neighbor may be working in a reputable multinational company and you work for a local company with or without a functional website. There may also be a huge demand for their work skills in Canada. Their NOC may not be the same with yours. Their profession may not be regulated unliked yours that is regulated.

XX01:
I reject this in Jesus name! He will have swift movement, amen!

I wish him to have swift movement. But I don’t want this to turn into I serve God more than you situation, because there are lot of people still waiting - that doesn’t mean they serve the devil. There are also a lot of people who have gotten their PPRs too.

My advice was not for those who have submitted because there is nothing you can do other than to wait. Some people are fortunate to get lenient Case officers/Program Assistants in CIO who carry out initial reviews and forward to Ottawa; others may not be that fortunate as their application will be thoroughly scruntized and then forwarded to a Local Visa Office for more review.

My main is to draw the consciousness of those yet to submit to be clinical with the documentations they are providing so that it enables an independent officer to form a conclusion quickly. Thus, saving the applicant considerable time and emotional stress.

PefHouse:
Can someone please shed more light.

What if I dont know nor remember what the reason for refusal was? And I dont have a rejection letter.

Is there a way I can find out this information?

Plus what if the visa was refused at the London visa office for a Visa application to canada. I honestly cannot remember the reason?

What do u advice?

Unfortunately, you have to state the reason why you were denied a visa. It’s acceptable that you may not have the refusal letter, but the reason is important.

I know there is information sharing between Canada and most western embassies, like the UK, US, Australia, New Zealand etc but I don’t know how detailed the information sharing is. I also remember that the US has a public website where you can see those denied a visa and for entrants and exit of the US.

It will be very vague to just indicate you were refused a visa without stating a reason, that may require the VO to investigate further and as a result increases time delays. If the visa denial was from Canada House, London, then your application will definitely move there. You can be honest and say you don’t know why you were refused a visa especially if the reason was not communicated. LVO should be able to spool your application and see the reason.

bbaby84:
Guy please shift joor... you have come again with your one way traffic. That's how you came and argued about POF, now it's reference letter.
Please go back to your WhatsApp group with your all knowing attitude. Stop making the thread long with your unnecessary arguements.

I don’t argue. I tell you TRUTH. Whether you like it or not. I didnt say it to please anybody. I have submitted. I have gotten my PPR and I didn’t experience ADR trauma. What I have said is from other people’s experience. While others are glad they got PPR in record time, some are still stuck waiting for an officer to review their application.

If you want to do it the popular way or your friends way - Go ahead

sleekysilk:
Did you say EFCC, Ok, na IRCC. Abeg make una no use laugh kee me. @Boss 13, abeg why will one need to try soooo hard to prove a genuine work experience? Ayam not understanding again o...

It is your duty to prove that you work or worked in an Organisation and not the VO. A genuine work experience is relative. It is relative because to someone who understands your work environment, he/she will be able to relate properly, but for someone who doesn’t understand your work environment- how do you prove that your work experience is genuine? You have to be objective as possible.

I have a family friend who applied last year SINP PNP. SINP approved the nomination. However, the application is still stuck with London for over a year. This family friend has given up. I know of someone else that was asked to go and get the original business registration of the company where she works. She is not even the owner of the company.

A11.2 Eligibility is very important. You must provide sufficient documents for both the program assistants and VO to conclude objectively that you worked in your company and your documents are genuine. Hence your reference letter is genuine.

I think it will be unfair of me to read that reference letter is sufficient enough for A11.2 (Eligibility) and I won’t say anything. What I have come to understand in this journey is that if you approach it with a lazy attitude, there are some VOs that will address your laziness.

I keep repeating - you don’t want to go through the emotional trauma of not seeing any significant movement in your application and when you send a mail, the response is that you should minimize communication. Canadians are subtle with insult. Trust me, you don’t want to experience that. You don’t want to be on the phone and a CPC agent is telling you that he/she cannot see your file and your file is wide open on their computer screen.

Some people are fortunate, but not all will be. Save yourself that trouble of worries, less sleep, lack of concentration, unnecessary anger and package your application like a professional.

kissoflife:
What if I only have payslips available to me. should I attach for the whole duration of my employment in addition to the reference letter? I am using past experience and I already got my reference letter

If you feel that’s okay for you, don’t hesitate. I printed 2 years payslips. Don’t forget employment letter, confirmation letter, if you have job duties add it. If you were in a project, print the mail and add it. Add every relevant document to support your application. Trust me you don’t want your application to be delayed.

There are experience people on this forum here and they know what I am saying is raw TRUTH.

XX01:
I put only my reference letter and nothing else. Yet my application was in record time. If they need more info, let them ask.

I don’t know what you mean by record time. If you have gotten PPR; good for you. Not all program assistants and Visa officers are that lenient. A11.8 Eligibility is very key, reference letter is not sufficient enough. Reference can be issue on a plain sheet of paper and my grandmother can sign, but to authenticate the reference letter you need other supporting documents. Most people who just provide reference letter end up getting ADRs and then comes the complicated part of tax clearance, 6 months payslips and even CAC business registration, maybe your company website is not functional.

I will also not rule out the fact that your application will first be delayed at CIO - 2 or 3 months before being sent to London instead of Ottawa. London don’t joke. Go and ask people whose files are in London and the emotional trauma they experience daily.

Save yourself that time delay and troubles. Over gather your documents and get your PPR within a short period of time.

My 2cent is for those who are yet to submit. For those who have submitted only reference letter. Go and hold your God and begin to fire prayer for your file not to be delayed.

Hamiltondreamer:
Are you being serious please . Honest question because all I added was a reference letter with all the required specifications.

Only reference letter? Hmmm. Your application will be scrutinized and delayed. You might even get an interview.

Newmum0615:
On a serious note, I will be getting reference letter from my employer but I will need to add other supporting docs. My case is quite peculiar. Our company merged with another company and based on that we were issued new employment letters and some years of our service shaved off from our records. The ref letter will bear the new advised date of resumption, so to proof that I have the number of years I am claiming, I am planning to add:

1. Old employment letter
2. New employment letter
3. Confirmation letter
4. Promotion letter
5. Copies of some official mails sent by me in the course of my work during the period
6. Letter from my immediate supervisor attesting to the fact that I actually worked at the company before the stated time on my ref letter + her complimentary card.
7. Old payslips from the months removed from my records.

I hope they are ok and I am not overshooting it? Cos if not for the peculiarity, I was only planning to add reference letter and nothing more. I kuku tire for the situation.

No you are not overshooting. You are even undershooting. Include the following

- Recent payslips which should include tax deductions
- tax clearance
- a copy of the mail sent to staff about the merger
- if possible, a newspaper publication of the merger
- your old and new business card
- statement of account (salary account). Do one year
- statement of account (where your POF is residing)
- your old and new staff ID
- Your reference letter from HR

I want to add something vital. Don’t be in a hurry to submit your application. You can be in a hurry to get ITA, that’s okay. However, to submit, don’t rush it. Take your time, gather your documents, review them closely. Because it’s not be quick submission. Each application is treated uniquely.

blessings2017:
Letter of employment is not mandatory. What's mandatory is Reference letter.

Hmmm - you are joking with fire here. Please attached your employment letter, your promotion letter (if you have), letter of confirmation, letter of redeployment (if any), commendation letter (if any), payslips, tax clearance certificate, pictures of you at work, pictures of you at the facade of your office and the office logo is conspicuously displayed, a copy of your staff ID card and then your reference letter.

The above is not up for debate. You are clearly informing the program assistant and the Visa Officer that you actually work in your Organisation. Even if you had worked in different organizations - the above should be used for your present work place. It will solidify your application that you are sincere. Also, if your company’s website isn’t working; please go and beg the MD to resuscitate the website (though with the above you can clear doubts). Also, try to see if your company is actually registered on CAC website.

What I have written above - not everyone did it and they were successful. However, nobody will tell your how emotional traumatic it is waiting because your eligibility is yet to be confirmed. To save that time, please get the above

Iumezinwa1:
For those that have had previous UK and US visitor visa refusal and gotten PR, what did you put as your reason. Was it a short explanation or long story.

I have been denied UK (once) and US visitor Visa ( twice, although i eventually got a US visa in Nov 2016).

please help

You need to be very careful with this else you will experience delays in your application and that maybe traumatic especially when your application mates starts getting PPR.

Explain concisely why you were denied the visa. If you have the visa rejection letter attached it. Also state it in your letter of explanation. Also draw their attention that you were successfully granted the visa later on.

When you are done and have submitted. Start praying to your God that the program assistant in CIO is passionate enough not to hold your application and send it to London. London is known for thorough checks and hence waste a lot of time. However, you would still get your PPR

esosa4real:
ALBUM TITLE: "CIC CHRONICLES"
ARTIST NAME: DR. XOSA aka "I must blow'�

Track 1- Collabo (aka IELTS jam ECA) ft vcole
Track 2 - Issa Draw feat IRCC
Track 3 - Police is your Friend feat Alagbon
Track 4 - Arab Money feat @kyaggy
Track 5 - The wait begins feat @ugoiyke
Track 6 - Canadian Love
Track 7 - Don't wanna wait in vain for ur Love
Track 8 - CIC, the more u look, less u see!
Track 9 - Speed kills feat @Speeddarlignton ���
Track 10 - CIC AWOOF
Track 11 - CIC WHY EVILS
Track 12 - CIC do Ojoro
Track 13 - Chill Pills feat @Mummyjaygirls
Track 14 - Norgo Scotia oh!
Track 15 - London Bridge: Falling down
Track 16- All bone na bone says d patient dog
Track 17 - Haba, I nor do again
Track 18 - No man knoweth the hour nor day
Track 19 - Hope feat @40manlappy
Track 20 - Hope remix feat @rashidat malcolm, soulbroda, uche, olu et al
Track 21 - Desperate Measures feat @adegirl & Lala
Track 22 - Aiye le ibosi o (To God be the Glory) feat Tope Alabi
Track 23 - HYPERTENSION feat London VO whatsapp
Track 24 - PPR FALL ON ME feat @DAVIDO

So as i promised months ago, this is my 24 - track album dedicated to cic and it's relatives (nairalanders and whatsappers) on this wonderful day of my PPR!!
Ppr mall yaff come...... i am I the music studio.....I yaff blow!! ����������

Dr Esosa I can see you have gotten the golden mail. Please kindly inform the WhatsApp group because some of us are unaware.

Congratulations on your news and your marriage too

just2endowed:
If the income or profit comes from investing in risk free securities such as government securities etc, then the economy is doom. And these huge profits comes from the criminal ideas from the cbn governor.

Let's me give u guys example. As at last year, the cbn ban individual investors from investing in treasury bills if they do not have minimum 50 million naira to invest in primary market from the initial 100,000. These gives banks to take control of TB in primary market, and in turn sell to individuals investors in the secondary market after they have profit from it,and these business is traded everyday.

For others that keep there money In the banks, these banks will use ur money to buy these security in these risk free securities and there by making up to 18% on TB or government bonds after paying peanut of 5% as Interest on deposit

Do you mind CBN, rather than encourage a spending policy; they increased interest rate on treasury bills encouraging Banks to divert funds to purchase them. This same CBN has created about 5 exchange rates in this country. Who would see Treasury Bills at 15% and still go to fixed term deposit in a bank at 8% - it can't happen.

douchesnozzle:
All these paper and accounting profits are just posted to enrich the major shareholders which are the executives. The owners with majority of the shares would only make money when they post high profit so that a higher percentage can be shared among the shareholders. A major question that should be asked is are the banks following the prudential guidelines as provided by Banking and other financial institutions act BOFIA. Does this profit transmit to the growth of the economy and welfare of the staff in this organization? A lot of these banks posting high accounting profit have a lot of bad loans which are not fully provisioned. The prudential guidelines demands that a 100% provisioning is done for a bad loan but most of these banks still provision 50% with the hope that the loans can still be recovered. This practice isnt sustainable in the long run, but the major shareholders don't care, they are there to make the money and jump ship when things go south. That's why we still have men sitting in the board of major organizations who have ran other organizations aground.

Whilst I agree with you, I believe that CBN Bank examiners visits these Banks and review their books. I am also wondering how come the Bank made a 100 billion in a recession. It does make economic sense. How did it generate this profit? Which sectors did it lend to? Businesses are dying and Banks are posting profit. The economic is in recession and Banks are posting profits. It doesn't follow at all. That is why I agree with you.