₦airaland Forum

PunterTim:
There has to be a notification before any amount that massive is transferred!

No. There doesn't hv to be. If it's yours it's yours. Notification to who?

PunterTim:
Only if you do it illegally!

define illegally

This thread has me in stitches.

I remember when I was in your shoes. Good luck to everbody

Truth234:
Where does the money they used to offset non performing loans comes from? The article mentioned two factors forex scarcity and global economic slowdown. Oil glut led to forex scarcity in Nigeria, the 120 billion is part of operating capital which is clearly started in the article.

Please look at it from a bigger picture.

Don't believe everything you read in an article. Journalists are not accountants or finance experts. I'm a chartered account.

To answer your question, you do not use money to offset non performing loans per say. Basically when a bank gives a loan, they expect to get it back. That loan is an asset to a bank and is recorded in their accounts as an asset. Not an expense. When it is observed that the loan is not likely to be repaid, a provision is made and expensed in the accounts. The loan is also removed from assets and it becomes an expense.

The oil price drop lead to oil companies defaulting on loans which lead to banks experiencing non perfoming loans which has resulted in the huge provision which has resulted in the huge drop in profits

Truth234:
@Bolded, yet their gross earnings surged 4.9 percent without MDA money.

Where did the statement says scarce forex is the sole reason? The statement simply says scarce forex and global slowdown, if you are a student of economics you should know that all these banks rely on oil companies (huge fund)a lot and a plunge in that industry is meant to affect them.

Another cogent fact you are missing is that in 2014 the bank recorded N481.8bn gross earnings, when conditions were more favourable and in 2015 that things were more difficult their gross earnings surged 4.9 percent to N505.2bn.

Now lets factor in exchange rates during the two period, naira was 150-155 to a dollar in 2014 and was raised 5 times in 2015 to 197-199 a dollar, that is around 33 percent increment. Which translate to higher exchange rate for the same transactions in 2015, so forex play pivotal role in this report. Again forex scarcity began in July, it was on 3rd of August that CBN restricted 41 items from accessing forex at official rate in order to reduce pressure on foreign reserves.

Sir I don't just write, I look into facts and analysis it to the best of my ability.

the main reason for the decline is not forex or MDA funds.

The bank made a provision of almost N120 billion towards non performing loans as a result of over exposure to the oil sector.

We all know what's going on in the oil sector at the moment. If you go through the accounts you will notice that both gross earnings and operating earnings actually went up. The sizeable provision expense is the reason for the huge decline

dasphinx1:
Sorry, Uber started operations in Abuja first. Lagos aint got to be the first all the time... There are other cities in this country also. ✌

Uber has been in operation in lagos for about 2 years

Abuja just started two weeks ago

That's why a lot of you fail jamb and waec and can't find job.
Read the post properly. Its obvious the baby isn't his and the girl also isn't his gf. He was just joking which he clearly stated.

Some of the so called good girls can't even have a simple conversation with a guy. To them every guy is the devil and only wants to get take them to bed. How will anyone get attracted to them enough to marry them?

Most of them stay in church and at home expecting the husband to fall from heaven.

The so called runs girls are very friendly, social and easy to talk to and associate with.

It doesn't take a genius to figure out who is likely to get married quicker

sexytyga:
ehn you go fear bank manager now effc must hear dis forming eediot

Lol stay there.

Your mates are busy stepping up you are here doing class captain

Dont get ur shitee together

Bastard

I'm a banker.

I'm 23

I earn over 400k a month

That's all I'll say on this matter

OkunrinMeta:
Is there still room to apply. And how? Please quick answers , would appreciate it

Go to the website and submit your application

They dont advertise jobs. U hv to drop an unsolicited application

Be patient. No need sending emails. It may take a while but they will get back to you.

Guess they have changed from PST to SHL. Maybe because people were failing lol. PST was no joke. I passed but everyone else i know failed it.

The next stage which is a case interview is even tougher than the test

You should book and appointment and both of you should go and get proper advice from a gyneacologist/obstetrician. Also do a full range of tests before you go any further. That's all.

.

.

chukychris92:
Please guys I need your advice I am yet to go for my Nysc and just got an invite for the text scheduled next week. Still waiting for my Statement of result which hopefully would be out by next month. I don't know what to do right now please advice me.

If you are able to get all the documents you need and you are well prepared then do the test. Because once you pass the test even if you don't have NYSC it will be recorded that you have passed. Once you are ready you just send an email and they will resume the process for you.

I did my aptitude test in Feb 2014 and I passed. I started NYSC in March 2014 and finished in Feb 2015. I then had assessment center and interview in July 2015 because I had to wait till there was space in the unit I wanted. If you apply for a unit like audit it will be shorter. I have resumed almost one and a half years after my aptitude test which I wrote even before NYSC

I disagree. Most people send the same cv for every job posting online. How will you get the job when your cv sent to a bank is better suited to manufacturing?
I have seen CV's that I wont even give a job to if I was in that position. That and many other reasons are why people don't get jobs through online search.
Some people leave it late to apply. The job posting usually has the date of posting on it so you can tell if it is outdated.
Most jobs are filled on first come basis. If you apply on the last day and they already have enough then there is nothing they can do for you.

I'm a recent graduate. I resumed work at one of the big four accounting/auditing firms 2 weeks ago. I got job offers from 2 of the big 4 and an international bank making three job offers. Still in the final stage of the recruitment process for another one of the big four though I don't need that job anymore. I never submitted a hard copy CV. These were gotten from online applications

If you tailor you cv appropriately and ensure you even meet the criteria before applying and follow the instructions then you will definitely get success

Hiploko:
u mean their training or induction?

Training

The graduate program starts on the 27th of July

kaboninc:
Hey...

So how was the interview? Heard it was a case kinda interview.

Yes it's case interview

PrivateRyan:
Okay nice. Wats d time diff btw when u had ur first interview and d partner's. Wish u d best

2 weeks

.audit

Uspadora:
Hello guys! Please, for those that have had their first stage interview, was it with the HR department or with managers from other departments. Please, I need responses urgently!! Thanks..

Both. Someone from hr will be there as well as managers from the dept you applied to

.

Those of us that have done mckinsey pst will tell you its the toughest ever. Dont bother practising with calculators o. Calculators arent even allowed in the main test. Dunno how I passed. Got dropped after first round Interview

donkunzman:
Have minimum of 5Cs in O' Levels in one sitting, graduate with 2:1, start NYSC then you can apply to any Big 4 firm of your choice.

Deloitte won't look at your application until you complete nysc