₦airaland Forum

pluto09:
Can you pls post a link to where I can download lapo financials result for the past 5years.
I need to see your result before I make my contribution.

please check my Signature!

emmanuelewumi:
It is advisable to take your funds to Zenith, GTB, UBA, Access, FBN, Stanbic IBTC, and other healthy banks.

Unity has a negative shareholders fund of over N220 billion, could not pay dividend in the last 9 years, becareful of banks, financial institutions, microfinance banks etc who offer outrageous rates on savings that are well beyond the industrial average.

Check out banks that went under, a year or two before they collapsed they were always offering outrageous rates on deposits, history always repeat itself.

Healthy institution aren't just synonymous with DMB's alone. The likes of Oceanic,intercontinental, Diamond banks comes to mind.. The proper advice would be to carry out due diligence.

emmanuelewumi:
Nobody who is informed and worked hard for his money will be so stupid to put his N50 million in a microfinance bank, most especially if the fund is 50% or more of his total liquid fund.

You should be able to convince with facts and proof not mere personal inclination. Good luck with your endeavors though!

emmanuelewumi:
The question was not directed at you, but to the person who wanted to put N50 million in a microfinance bank.

You have not been able to provide any logical reason why investors shouldn't in MFB's. Your only logical narrative is that nothing good can come from the word micro.

ahiboilandgas:
i rather be fighting with tenates up and down than fix in microfinance bank and teir 2 or teir 3 bank ( unity bank and co)

An investment where you have to fight with tenant just so you get your ROI is a bad one. The only consolation is the physical property which remains no matter what.

emmanuelewumi:
Defunct Oceanic Bank, Intercontinental bank, Bank PHB and others had far more than that before they went under

They went under because of the high amount of Non-performing loans which over time, led to the eroding of their capital...The major reason banks fail is Poor loan management ,Non bank business activities e.g (Depositors funds were invested in Oil sector of the economy)and corruption..Oceanic Bank went under largely due to misappropriation of depositors funds. Management matters a lot when it comes to banking. Lapo Mfb has come a long way. 30 years of existence isn't a fluke. When it come to risk management, we lead the park. Our record is open for all..

emmanuelewumi:
I hope the N50 million is just 20% of your capital?

Our capital currently sits @ 19billion +.shareholders fund is 3.5billion.

salford1:
Seems My niggi Whyte is getting brushed to the side again.
Even If Fury ask for 50-50 with AJ, he deserves it. He is a tested fighter than duckling Wilder
It's staying in Britain no matter what. Finally, no more ducking.

I don't think Eddie is honest! We shouldn't expect any unification fight soon. Joushua would rather fight Pulev than step in the ring with the Gypsy king.

salford1:
hmmm. We shall see.

salford1:
The same Whyte that the bum squad has been avoiding for like two years.
Packer you call a jonnyboy

Was Wilder sleeping when AJ was gathering the belts

Just wait till you see the body language of AJ's camp about unification! Fury will call him out but, there will be excuses.

Tonnyray:
Loud it bro. The way we tend to run our own down is pathetic.

Our own ? Whose own?we are talking Professional boxing, you are talking patriotism! Stop the bias and face reality!

salford1:
overhyped you say. compare all his fights with WIlders record.
Dude did not pick up those belts on the street.

The only real heavy weight AJ has ever fought is Klitschko ! Whyte,parker,Ruiz,Takem are what you call Jonnyboys

Openbusiness:
Smh, AJ has a better chance to defeat Fury than Wilder. Fury's punches can't damage AJ but AJ has the boxing skill sets to destroy Fury. AJ will defeat Fury and become unified heavyweight champion of the world. You wait and see

I wish I share your optimism.. I have been a fury fan since he ended klitschko's decade reign as champ..AJ was even lucky against klitschko.if only that fight had taken place 2-3 years earlier. AJ is over hyped!

Fineman87:
Haha, a third fight is necessary. A careful study of tonight's match by Wilder's team would suffice to prepare for rematch. The question is Why did Wilder get tired easily? Because big Fury was resting on him.

The added fury weight paid off.

salford1:
Aj wont go for wilder. They were never on the same class to begin with. His american media only hyped him.
There is a reason he keeps fighting bums instead of coming to Europe to fight real fighters.

Aj never ducked anyone. Wilder wanted 50-50 and Ajs team wants none of that. AJ is the money maker not Wilder.

AJ ducked, take it or leave it. AJ stand no chance against either of this two heavyweights. AJ will be knocked out plain.

seunmsg:
The Gypsy king is back! Now that the Wilder boom is out of the way, let’s have Joshua vs Fury. Two real champions.

You call AJ a real champion ?

salford1:
We told all these wilder fan boys that Deontey had been fighting bums to rack up wins.
The match is a walk over for Fury

don't mind them!

ahiboilandgas:
i was permanently doing fixed deposits at 6 percent with banks in 2008 , in 2015 i did 5 on treasury bills we are used to poor rates and good rate cycle ...if i put 50m in micro finance bank i go get heart attack....my friend own a micro finance bank around surulere i know how poorly manage and weak finance the bank is ...

SOME Deposit money banks failed CBN stress test last year but that doesn't mean all banks are at risks!. Just like DMB's, we have different categories of Mfb's..That your friend has a poor risk management system in his bank doesn't mean all Mfb's are poorly managed! When it comes to risk management in the micro finance space, Lapo leads the park. We are 4x more capitalized (19billion) than the regulatory threshold of (5billion) all thanks to steady increase in profitability of the bank. As at the end of third quarter 2019, we were sitting on 5billion naira profit before tax. When last year's report is out, I will be willing to provide the full report or share links to the report. But if you have other reasons why people shouldn't invest in a top tier Mfb please do share,we are all learning.

Donbrig:
Thank you sir, I have some details about them already. I hope I can negotiate rates with them if I choose Term depost savings?

There is room for negotiations though it depends on the sum you intend to invest with.

Donbrig:
@fineguy11, I shall be opening an account with LAPO in their head office in March/April. I intend to transfer about 50m into that account, pls apart from fixed deposit, what other investment options are open for customers? I am not in Nigeria at the moment, but I should be in Benin by next month.

There is the 6billion naira 2nd series bond we plan to issue via our subsidiary in the capital market but I have little info about that for now.

iamloyalty:
I went to Fidelity, Standic banks and the offered 3% for 31days, 4% for 91, & 6.5 for 365 percent respectively. some of the banks are as low as 2.2.

3%per annum or 3% of what you fix ?

Donbrig:
Lapo rates are not bad. Can they also do treasury bills on your behalf like other traditional banks? I am also considering opening an account with them, LAPO head office is very close to my house in Dawson Road Benin City.

No we cant, Regulatory restrictions!

Sagaciousd1:
Hi Richard, I am quite sure you did not get the question @ojes... asked. He wanted to know if you guys finance transport business and stand as an arbitrator in that line.....The truth is, LAPO does not but a subsidiary does. The partnership between LAPO and those Solar companies are completely different game. @Ojesymsym, work into any LAPO branch, you will be directed to MISS, a subsidiary of LAPO where you will have a seamless dealings in getting your desired transaction done. If you are in LAGOS, do visit LAPO head office in Oregun where you will be directed to a representative of MISS. Safe

You are 100% correct. Thanks for the clarification.

Go to any LAPO office to access credit.

They took her phone and left theirs ?don't believe this narrative.

kristien4:
Can I get your whatsapp number?

yes,check my signature.

ojesymsym:
Hi, do you guys have a program where people can use your bank to invest in transport business where you guys stand as the arbitrator between the driver and the investor, since you guys have the experience for fund recovery?

Yea we have something like that. but you will have to discuss with the business development manager. Either @ the Lagos or Benin head office. We are currently in partnership with Oando,and about 3 different solar firms! so yes,its possible.

kristien4:
what's your I.D.? drop it.. because I intend fixing by months end when my T.B drops.

Please tell them,Richard@Epe branch. They know what to do.

prestige2013:
What is Ur rate for 1m for a tenor of 6months?

9.5% per annum. 1m for 180 days gives you 42,750 after WHT.

kisszhira:
Just pray you don't fall into the hands of MMM in the name of MFB.

Take advantage of our rates and get good return on investment...A bank regulated by CBN is not a ponzi scheme..please do your research and stop negativity.Our income statement and credit ratings are available for anyone who needs them!with that you can make a well informed judgement..

kristien4:
I just opened an account with Lapo microfinance today, their rates are good. The only part I dnt like is they don't have a designated ussd code and a bank app. Every other thing checks out.

we will be launching a new Banking software next month..This will usher in lots of innovations including the app and ussd code..if you indend fixing funds please use my I'd as referral so it counts for me

doublestar21:
Those amount must it be daily or monthly, because I saw Amount/day. Pls clarify me. Thanks

The tenor is stacked against different rates..The tenor/duration determines the rate you get. If u fixing 100k for say a month, u get 6% PER ANNUM. If you fixing for 1 year you get 7% per annum.