₦airaland Forum

okoroemeka:
it is Nigerian debt,so the country Nigeria will pay the debt ,oduduwa and biafra did not collect any money and their name is not on the debtors book

The loan will always say Nigeria and succeeding entities

maynia:
Enaira not naira.
I’m sure no b only naija get that word “naira”. It will have a meaning somewhere else.
And the topic is enaira not naira

Oya which other meaning does Naira have?

When Nigeria stopped using pounds, Obafemi Awolowo chose the name "Naira". It is entirely owned by Nigeria and does not exist anywhere else

How can a private company trademark "Naira" which is owned by the federal government? The company would lose the case because they should not have been registered by CAC in the first place.

Aidejay:
WHEN THEY COME TO NIGERIA WE CALL THEM "EXPATRIATES"
when Nigerians go to their country they call us Immigrants, migrants.

That's because they intend to go back.

Immigrants don't intend to leave after migration

AntiChristian:


28 years only for murder? This system is just wasting our funds feeding more prisoners!

He ought to be killed ASAP if found guilty!

Why not apply for the job of executioner?

You guys scream for the state to kill without considering the fact that it's people that would have to do the state sanctioned killing at considerable expense to their mental health.

Capital punishment and indeterminate sentences should be reserved for very, very extreme cases, especially in cases where the culprit plead not guilty

Most of their good players play for Netherlands instead of their own country.

Betboss:
I have never paid any tax on my amazon earnings. Do you reside in the US?

Which earnings? If it is Amazon KDP, you must pay tax.

Nigeria does not have a tax treaty with the US so you must pay witholding tax on certain types of income. If you were South African, you will only pay 10%. As a Nigerian, you pay 30%.

Travel agents have made people to not know the difference between Cyprus and North Cyprus

HOW'S that a camera? Abi na guilty conscience dey worry OP

By the Isreali law of return, anyone who has jewish ancestry is allowed to emigrate to Isreal and become a citizen. Any Igbo that believes he is a Jew should try to do this. That is when you would understand that Igbos are more genetically related to Yorubas and Ijaws than Jews because you would be deported at point of entry.

It is inferiority complex that keeps making some Igbos claim they are Jews.

People should remember to read before they comment o

It is an Igbo man that wrote the book.

emae009:
how do you know does are wants?
The point you're overlooking is that it's different for everybody.
If I ask you what you need right now, do you actually think it'll be the same as mine.
If I say I need money right now to go flex at Disney land, it might sound like I'm stupid to you when I should use that money for a whole lot of things (that right there is the problem, the whole lot of things you will come up with is from your own reality, not mine as you don't know what and what I have or want or need). which is my point in the first place

That's the problem here. You people don't understand the difference.

Needs are largely universal. They are not subject to individual whims.

emae009:
are you the owner of the many to know what they need?
People collects old cars and pay insane about for it.
People prefer weird shit like dominatrix and BDSM.
People are different, so are our need and wants. You can't use your own reality and generalize for everybody.

Those are wants.

That they pay insane amounts for it dioesn't mean they need it.

You need a phone. You don't need the latest iphone. You want it.

LibertyRep:
Anyone thatcan genuinely and conveniently afford it should buy it.
Saying ' no one on earth' is a lot of exaggeration.

It is not an exaggeration.

Need is what he said.

The iphone 13 is not curing anything and it is merely a marginal improvement over iphone 12 which is just one year old. There will also be iphone 14 in another one year. Why many may want it, they obviously don't need it.

Jackgriffo:
How'll someone know the difference between EFCC & kidnappers?

Efcc wears red jacket

Ayemileto:
Majority of USA debts are owed to themselves.

Like one government agency owing another government Agency OR one Government agency owing a public or private company.


This narration that USA has the highest debts in a bid to defend Buhari does not make any sense, because you can't compare a country owing most of their debts to themselves, to one owing most of their debt to other countries.

Also the US largely owes money in its own currency which can easily be offset by quantitative easing (aka money printing) whereas Nigeria is owing in foreign currency which must be paid back with scarce export earnings. It is a recipe for failure if those loans are not channeled into projects with serious multiplier effects. Why borrow money to temporarily buoy the Naira or to fund cash transfer programs or roads/railways that do not make economic sense?

Them go soon message Nigeria contacts.

membranus:
https://www.reuters.com/article/jp-morgan-moves-venture-capital-idUSL2N27L0AR

JP Morgan is a global Integrated financial holding company with a VC arm. They are not doing alternative investment (which is what venture capital and private equity are) with customer deposits but with capital provided by LPs (Limited Partners).

membranus:
Have you ever heard of venture capitals firms set up across the globe, which are another form banking and financial credit source. Their major focus for credit provision are technological start ups.

You are quoting me talking about VC firms when I already highlighted that in my post. Did you even read my post before replying?

VC firms are not banks as they do not accept deposits from the general public and they generally provide equity mostly. In cases where they provide credit,it is in the form of hybrid securities such as convertible debt or preference shares.

By the way,next time read before replying

membranus:
So in your own view it is those little funds they contributed to their inspiration that make them the big technology giants they are today.

Why don't you dig deeper and reel out their debt profiles with banks before they become the cash cows they now are.

There are always a beginning for any business, and in a sane climate, banks are always willing to help any customer with a good business plan.

Banks don't provide loans to start ups.

Stop saying what you don't know.

VC firms are the ones who provide funding for startups.

Banks only provide growth capital after you have proven viability and even so, most bank loans are collaterized or based on particular projects cashflow.

Kaiser20:
Give those idiot loans they will not payback. Refuse them loan they will complain that the government is not helping the youths to grow businesses.
How can someone approach a borrower without any collateral, gets a loan then refused to payback
They will not pay also their landlords.
Poverty have continued to stay permanently with some persons until they change their attitude of. ...give me, give me. give me.. give me.

Sorry, these are not the type of loans that help grow businesses. These are usurious loans. The companies can't even put their actual interest rate on their Google play page because Google would remove them from the playstore if it is known they charge such interest. We are talking 50-60% weekly interest here and you are talking about business growth.

adetayoonas:
They will get the license if they don't have.
There is a global standing instruction
Pls let us stop encouraging loan defaulters.

U are only wasting your time if u sue them for privacy violation cos it wasn't by force they gave u d loan. U asked for it. So pay ASAP.
Your attitude to default on loan is not good at all. Go and pay your loan.
Haba. Why are we like this in this country?

It is quite sad to see people even encouraging this bad act. Loan is why Europe, America and Canada grows but people in Nigeria are great defaulters even some of our politicians.

I encourage people to default on loans like this.

They are unlicensed and charge 50% interest for 5 days and you expect people not to default? 50% for 5 days is over 3500% annualised. That's worse than Shylock and the more people dare to them to do their worst, the better for the country. 40-60% weekly interest is not what the country needs financially. These apps are owned by Chinese Shylocks who at the end of the day would pay any exchange rate to convert their gains to dollars and repatriate it, worsening the exchange rate problem.

To any borrower, the moment they message your contacts NEVER EVER pay back. They are not going to undo the reputational damage so you would be stupid to pay back.

As for that fellow saying they will beat the borrower, quit being stupid. The cost of that is higher than the value of the loan. They actually have little to no legal basis for recovery which is why their sole stock in trade is threats, emotional manipulation and social shaming.

Their interest is so high that even if half their borrowers don't pay, they will still be swimming in cash.

Ofadaman:
His other banks will be debited if he has money in it, that's how it works now. Its a current CBN mandate to most banks, if you are a chronic debtor, they can flag your bvn and send to the CBN, NIBSS will force debit all accounts linked to your bvn to repay the loan amount.

This is not true. These are not banks and do not have any CBN license to do this.

smasher1:
These person has no reputation to protect. He's trying to see the worst thing the company would do. Not knowing that whenever you default, your bad credit file is hosted and and financial institution in Nigeria would see it especially, when you need another loan in future.

Again not true. These particular set of companies don't even record their loans with credit rating agencies because their loans break usury laws.

ezegold4we:
They will not arrest u, all they will do is to put your account details And bvn number under automatic credit to Their account,

The only thing that will stop u From paying them is two things,one is if you are no Longer existing on Earth and The second one is if you stop Making use of all ur bank accounts becos that bvn number u gave to Them is linked to all ur account's,

Finally try and pay becos Right now, Ur Bill is increasing on a daily basis due to extra interest being accmulated

Actually, lots of people get away without paying.

They can't use your BVN to do direct debits as they do not have a banking license. CBN did not license them so they can't use the CBN's system to get back the money. That's why you see them relying solely on social shaming as the way to recover their loans.

My sympathies would never be with companies charging 2500% APR annualised. They are getting up to 500k interest yearly from a 14k loan. That's usurious.

mu2sa2:
Many people take these loans thinking they can get away without repaying - awoof, they call it. But how wrong they are! With Bvn and Nin, you can run but certainly can't ever hide. Op just pay back the paltry 15k - there's no escape route for you to dodge repaying your loan. At worst, you may try your luck with crowdfunding to free yourself.

Their licenses are not from the CBN so they actually can't deduct the money the way all of you are saying. That's why they resort to those threats. They are money lenders and not banks.

Akwa United would lose away

Now that it has been officially denied, we can be certain that the idea was infact mooted

Ned Nwoko won't be happy

nick50:
It's not a rule but a fact...the meat serves as an apertiser..if u eat d meat first u can't be able to finish d food that's why our parents thought us to to eat d meat last

Are you sure you know the meaning of appetizer? Appetizer is eaten first. Maybe you meant dessert