₦airaland Forum

Onboard1:
Knowing that no one has defaulted till now, what strategies do you have in place to recover your funds should someone defaults?
What form(s) of collateral do you accept?
For someone who is not and has never been in banking sector, how do I start getting customers?
Thanks

U don't need all the customer,but one trusted person that will refer u to others and surprisingly,that is what actually worked for me. For recovery,very simple.
U must have someone to guarantee the loan for u and often check on ur customers to ensure things are going as promised.

ndidigood:
The biz can thrive mainly in south east or among easterners BC they are biz oriented.

Not really,I was born in Lagos and had only lived in my state of origin in just 5years of my studentship,and ever since been living in the North where I do work and still do my business.

jossy26:
Whao, quite impressive sir, please I want to ask, how did you arrive at the interest rates you charge your customers and is the business run through an app or just simple manual paper processing?

Manual and nothing more!

Nigsrdumb:
Impressive, here's the part I don't get, how did you secure 4 landed properties in Abuja? Within 8 years of capital growth from 1 to 35 mill?

Just curious because some people with 100 mill can't access properties that easy

Compounding is just the magic.

9jatriot:
1M to 35M in less than 8 years? This is very impressive o.
Give us small lecture na as oga Ema de give for stocks.

My brother that is the power of compounding, sometimes I could do a business that will last for only two days,and I will collect my interest as if is one month.
Just like the one I transacted two days ago,two days business and I got same interest sharp sharp. This business is not stock nor TBill and there is not exact way to explain it other than mentoring.
Pls,permit me not dish out all the secrets here...I will find away to private chat u. Am in a party now thanks till we chat.

kunleweb:
Ibo power super power.


Brilliant. I like this money growth story. What more do I like, the part that states do not listen to people as people would talk you down. I've never seen Nigerians applaud any venture as a good one to invest in. There's always a sad tale to hear when one goes about asking questions what to do. But like you mentioned. The right mentors, the right connections, the right processes and things would fall in place. This is a forward thinking writeup which I applaud and second. And not our typical " dem go collect your money run theology", no garri seller, would leave his shop and run due to a 40k loan. None. I rest to highlight and empasize that every venture needs a success formula. Many tines businesses nose dive or fail, its a lack of blueprint/success formula or like of adhering to laid down principles.

Just one person referred me to others. And most of these guys are worth more than what I give them.
Never u back down but believe u can.

jossy26:
Hello, can you please share details of how you were able to do this?

I joined the banking industry in the year 2012 where I met a colleague who joined from a bigger bank,although I joined as a graduate trainee while he joined as very senior officer.

One blessed day I engaged him in a talk on how we could have side hustle added to our salary,he said everything boils down to Capital for which he had none due to the project he had at hand. I quickly asked like how much are we looking at and he said at least a million naira. And lo and behold,I had just N360,000 as a fresh graduate. He requested I bring the cash and that was how we started,he showed me how to draft the agreement and how to recover funds from customers.

The first cash we gave out happened to be my money and the interest was shared on a 60/40 basis but as time went on,I was reinvesting my interest and the money kept coming.

2016, I resigned my appointment, because the stress was getting out of control and my mentor had already left to join another bank being a professional and very intelligent at his work.

That was how it has been ever since 2012 and currently, i have very solid customers base through referral that I can transact business without going to their offices or even meeting them. To further preserve my capital, I was able to secure about four landed properties in Abuja one in my village.

The loan business is very lucrative,as I have introduced my wife into it and my younger brother is coming on board.
Caveat is; get a mentor and have a targeted market and u will succeed. Do not listen to people as many will talk u down.

Funny enough no one has ever owed me since over 7years.

Abia state is in a sorry state. Surprisingly, our people in that state don't seem to understand that Abia state has been milked dried by all current and past governors of the states.

There is no road without potholes in that state,roads are tinier than it used to be. The only business in the state is Keke business and nothing more.

The government officials in the state behave like cultist and night criminals...God will help them but I thank God say Orji Uzor Kalu is in prison. Two more to go.

Sealed because of their debt to Ecobank.

juniorrate:
Have anyone try some idea like “Personal Loans Lending” let me say u have 100mills as ur capital and u want to be lendin out to collect percentage. so since commercial Bank is givin out loans like 27%. then get a good lawyer and give out loan at 12-13% and set many requirement the lender will need to met + collateral..........

have anyone try such thing and how is the success bcz i believed the judiaciary system is shitt in Nigeria

I have been doing it for the past 7years and today,I am absolutely fulfilled.
I actually started very low in 2012 and I have been able to grow my capital to the tune of 35million.
The inflow has been consistent for all these years.
Caveat is; do not give above 10% otherwise u might loose all ur cash and another thing is that u have to be mentored before u can venture into this kind business.

I started it while working in the Bank and I had to resign because I got another job that was less stressful.
U could do it if u are interested.

Very soon this guy will be eliminated just like the FBI killed 2pac and Biggy Smooth alias notorious BIG.

Anything that will affect the state should be taken off.

I pity u and I pray u better come to ur senses quick...before fire go catch u.

DaudaTheSexyGuy:
Of all the married women I have banged at least 50% are from Imo State

U sounded like a fool...not because u banged ladies but married women. However,what makes u think u are a super star?
Learn and pray for wisdom,I am sure it'll profit u.

Islamic countries are the reason why the world is in confusion...e.g Saudi Arabia known for beheading,Yemen terrorism, Iran and Iraq joint terrorists controlled by two major leaders Ali Khomeini and Ali sistani.
Somalia alshabab, central African republic also known as CAR has been destroyed by Fulani just like Nigeria,Mali, another toureg terrorist in part of Mali and the sahel. Syria completely annihilated by the Assad's family. Egypt has been battling with Muslim brotherhood for many years and has increased since the fall of President Morsi.

Sudan, this is the only country in Africa that nurtures and educate radicals islamic fundamentalist. These radicals had been drafted to fight in both Yemen and Libya wars. Palestine and Pakistan. All the big terrorists in the world are either hiding in the mountains around Pakistan and Afghanistan border eg alzawahiri a former colonel in the Egyptian army who became a no 1 man in Alqaidar after the death of Osama bin Laden and many more.
And these are the reasons why the world is still not at peace

He might be right,this is only Minister who could confront the cabal unlike Fashola who was just afraid to sack them.

So long am a citizen of Nigeria,no pressure nor intimidation will make me vote u in the next Presidential election.
If u like jump back to PDP rubbish. This is how we have fared under Buhari lawless leadership. No one respects the law but a lord over the law.

BafanaBafana:
Have you ever eavesdropped on policemen discussing?
All they talk about is money and nothing else -
-how one wants to be posted to somewhere so that he can be getting "something"
-how that guy was a fool and refused to settle oga and they stopped posting him out.
-Another will be bragging on how he doesn't take nonsense as he collects nothing less than 2000 naira when he confiscates a keke napep.
-How one oga collected someone's money for promotion and retired the next week.
- How they love mopol because they cooperate e.g if mopol sees someone on the road with large amount of money they can just finish the person and take the money and also finish off any of their colleague that tries to claim holy and oppose them.


All these things I have heard with my own ears

U are on point...my brother, I have only seen one responsible officer's son since I was born.
And that was in 2007.
When I interviewed the guy,he said his father refused to take bribe till he retired and that was the only secret and further inferred ,that his younger ones are also doing great in their places of work.
Other ones, is either they died on duty,children are prostituting,the son is either agbero in Lagos wife is remarried and annoyingly,some police fathers can't keep one wife.
Concubines every where and talks irresponsibly.
Abeg make I rest jor, police matter just tire everybody for we country.

emmanuelewumi:
Better to be diversified by having multiple streams of income.

There is a popular saying on Wall Street that says " stocks make you rich but bond keeps you rich".

That is why Investments that give continuous residual income are very good eg real estate, dividend paying blue Chip stocks, bond, structured and well managed businesses.

My late grand mother died in 1997, but her property at Shipeolu St Shomolu Lagos still generates rental income of over N4 million, 23 years after her demise.

The rents collected are invested in stocks, bonds, money market funds,Invested in buying other properties, used to finance the post graduate studies of her grandchildren and equally created the seed capital which her grandchildren used in starting their businesses after graduation.

It is my prayer that we will also leave a lasting legacy for our loved ones and children.

Oh what a mother! Pray to be like u. I have equally purchase such a property for my unborn grand children close to Abuja airport.
I want to be celebrated by my own grand children. May her soul continue to rest in complete peace with God.

Amen!

PENCHANTMARTINS:
Haha �. Funny bro. You might want to change the "horseband" to "HORSEBANG" �

That is the right word my dear brother.

Ifyjos:
Yes please don’t judge him being poor is not permanent, I know that some day he will owe houses and many cars by God grace

By being a drunk,abeg make I see road.

Just pray he does not use u for ritual soon.
God cannot bless that kind of man that will destroy others and sees nothing evil in it.

And for u,u are already finished!

The part that got me weak is that,the said man abi na lover has no apartment of his own still squatting.

Me already hated u even before I finished reading ur epistle...at 15 u carry belle and u are still proud of this stupid drunken master who u claimed to be ur horseband.

In fact I am so ashamed of u...let me just keep my cool.

Rubbish fucker,u don't even know that ur so called horseband and not husband raped u judging by law.

Poverty of the mind is the major wahala in this republic called Nigeria.

Cheato64:
I and Oma have dated for more than 2yrs, I intend getting married to her. When we started dating she told me from onset her genotype is AS. I taught I was AA because I did the test when I was like 10yrs.

We decided to go for HIV test just to be sure even though we had unprotected sex. On doing the HIV test, the attendance whom we didn't ask, checked our genotype, performed all the test because she taught we were couple and since it's an Anglican Church hospital and we came together, it means we are planning to get married.

The result came out HIV negative for both of us, blood group O+, while she's AB and genotype we were both AS. She insist we call it off, 2yrs courtship just like that.

Oma is a nicest person I have ever known after my mom, she takes care of me, I eat healthy, I don't repeat clothes both inner and outer wears. She makes sure I work out regularly, I don't do house chores yet my friends envy me whenever they come visiting.

Name any good thing Oma has it. Now Oma has moved on but I can't, I kept on looking for a lady like Oma, now I understand why most men talk trash about Nigerian women (no offense) and when I meet a lady the first thing I ask is her genotype.

I can recall I asked a lady her genotype even before asking for her name. I can't keep a relationship all I think about is my sweet Oma. She has moved on so she claim but we still talk and she told me she has a man right now even though we still sextexting, we talk how much we miss each other it's been over 6 months since we last saw, she relocated to delta while am in Enugu.

I invited her which she decline but invited me which I accepted I intend going this weekend and I will ask her to marry me, if we get married there is a possibility our first 2 children won't carry the sickle cell anemia. My friend is telling me not to do it but my mind is made up.

Na people like u use Nigeria dey play bet naija.
How can u test the debt of of River Niger with ur two legs.
If u like marry or not,just don't forget to write us after the two babies.

Awol1:
And there was no Hausa among the cabals?

Only a Yoruba man and an Igbo woman.

Las las na 2023 everything go end.

I am Igbo but I can tell u with confident that,that Igbo woman is very terrible and absolutely corrupt like his Yoruba counterpart.

The minister was very right and has done what we have been clamouring for since last two years.

Go to open university and read a course and come out...school na school.
My younger brother did a part time in a polytechnic in Lagos state and today he is a boy with a government office in Abuja. No NYSC but a discharge certificate yet he has crossed over this Nigerian way of thinking.

School na school. Remember u have to be flexible in the kind of courses u chose. If one hard to get look for another one. After all Doctors and nurses too are all searching for Jobs.

In the name of God who is the creator of heaven and earth and most merciful.
I will not say anything against Pastors and especially the fake ones,but if u read ur Bible u don't need any man to deceive u.

Christians should know that we are not following father Abraham,Moses and John the Baptist. But the true one called by the most high to reconcile us with God. Who is Jesus Christ!

However, if they want to collect tithe and all what not, they will quote the old testament, but if u want to do what is in the old testament, they will say old things have past away,but collection of tithe is not among the old things.

The way the country is going shows that everything is going the yahoo way,I expect this guy above to be in his office working and here u have him talking about first fruit and tithe even when no one is sure of getting his salary this January when school fees is at hand.

Judgement day is going to be full of surprises. Because the level of unrighteousness is getting of hand and no one is preaching about it,the country is being ravaged by same Christians and Muslims pillaging and stealing from the coffers and no preacher is saying anything. Let's talk about holiness and righteous living.

9jatriot:
Great idea. But, Nigeria has a peculiar problem of trust. You can't count the number of people that have had their hands burnt from such ventures

I don't disagree with u,but Ahi,did it and the question should have been,how did he achieve it?
And another is,u guys will write an agreement which will cover every details,down to inheritance,transfer and many more. My brother am just advising oh.
For me,I know it is very possible just with a renewed mindset.

Mine was N20,000.

One of the reasons why Lebanese in Nigeria keep making money as if they own Nigeria is because of the power of pulling resources together...the Chinese people are better at it.

With all the millions and expectations on this platform, I expect many guys here to come together and formed a company that will metamorphosed into a bigger organisation in few years time. Ahi,once told us how him and his guys built a 150million worth of filling station in Nigeria.

U guys are worth more than this,with the coming together of just ten persons pulling the sum of say 20million each or less,can set up a mega business that will rake in more than 500million in fives year. To add to this,some fuel stations now combine gas station eatery and shops in the same vicinity and many more.

Rather than having all ur cash stuffed in one venture where rates are going down,u can as well initiate this crowd funding business ideas and before u know it,a partnership is born.

Hmmm...Nigeria!