₦airaland Forum

stuffs2002:
Ask me again.

Besides, why are you changing mouth. Didn't you say all were Muslims before?

Abeg stop changing mouth just because I proved you wrong

Do u know what "Almost all Islamic terrorist organizations" means?!... go back and read my statement again, I like fruitful intellectual discussions, buh if u are tryna be a dim wit I will ask u politely not to ever quote me again.

stuffs2002:
Hahaha 🤣 🤣

Nothing to wonder anything. You are just too brainwashed.

Here are just a few of mostly Christian terrorists organisations

* Lord's Resistance Army (LRA)
* Liberation Tigers of Tamil Eelam (LTTE)
* Irish Republican Army (IRA) and Splinter Groups
* Far-Right and White Supremacist Networks
* Aum Shinrikyo
* Kahane Chai / Kach

Please which of them was funded by US?

stuffs2002:
Lol.. many of you are so naive but full of hatred.


Osaman bin Laden was trained and armed by the CIA

The CIA is the number one financier of terrorism in the world. The CIA also goes about the world arming terrorist organisation

Why always Muslims, why are they not arming Christians, yes!..US funded Bokoharam (see U SAID), must y'all be the useful pawns?

Have u ever wondered why?

Almost all Islamic terrorist organizations got their training in Saudi Arabia... including Osama Bin Laden

Recently Traore was warning most of them that when to Saudi to learn Sharia Law not to return to the country when done.

If u want to solve Nigerian's terrorism problems, first extract and analyse details of those that went to Saudi to learn Sharia Law from 2000 till date and u would've solve 90% of Nigerian's terrorism manace. They practice a healthy form of Islam but teaches all Africans Muslims wahabism and sharia law.

How many alamajiris are in Saudi?

How?

Is this an admission bullion van politics is the only thing Tinubu knows?

He learnt from his President, they need to release him immediately.

Unless they arrest his President first!

Rutherinspace:
That's not quite correct. It’s misleading information, and there are others like you who don’t fully understand policies but just throw out inaccurate information.

Under the CBN Prudential Guidelines for Microfinance Banks, a loan does not become Lost simply because it is 90 days overdue.

Once a loan is 90 days past due, it is classified as non-performing and placed on non-accrual status. At that point, the bank should stop recognizing interest as income and transfer any accrued but unpaid interest to Interest in Suspense. However, the loan is not yet classified as Lost.

Please note that interest ceases to accrue as accounting income once the loan becomes non-performing at 90 days, not because the loan has been classified as Lost.

Unfortunately you are abysmally smart, please which class does Non- performing loan exceeding
90 days fall under?

My argument is if the bank followed the guidelines, there's no way the book balance will be 9m

creativejagaban:
You got it wrong.

It is never lost. It means that the company should stop recognising it in the books for the moment, but that does not mean they should not take every measure possible to recover it.

Are you saying that everyone who owes a bank should just decide not to pay back for 90 days and then the loan will be 'lost'

Then imagine what other coconut heads like the girl would do to our financial system!


Tinubu till 2031.

Unfortunately the whole concept of Loan being lost flew over ur head, nonetheless, I don't mind being societally useful...a loan being lost means the loan has not been serviced (paid as at when due) for a period over 90 days, which means the bank beings d burden of providing for it in full pending when the loner(defaulter) pays.

With the context, my argument is that the loan shouldn't have gotten to 9million had the bank stopped accruing interest after 90 days as required by CBN guideline.

pinkygurl:
9.6/1.2=X8
9.6m over 800% ritualistic interest on 1.2m loan, that should stop accruing interests after day 90 . Even 50% interest on 90days loan is outrageous. These unscrupulous loan apps need to be delisted.

It's unheard of, this simply barbaric...my vex is that Nigerian Govt are allowing them do this to their citizens, in US interest rates is btw 4.5 - 5% per annum across all financial sectors, no one dares violates SEC approved rates. Chinese loan sharks are all over d place charging arms and legs to an already impoverished populus and no one is saying anything, not our national assembly....no one!

Fixed:
You are very correct. The loan should have been classified as "Lost" and interest should no longer accrue after 90 days. While the Microfinance bank is obliged to write off the loan in their books, they are still permitted to recover the loan including realizing any tangible collateral collected.
However, microfinance banks do not presently have access to GSI which banks use to recover their loans from the borrowers accounts held with other banks.

I was informed Loans app with Financial Services Licence has access to GSI platform. I will double check through all my sources and get back to you.

Teymanhenry:
Stop this cap. She definitely signed or agreed a contract with easymonie before collecting the loan. Instead of counseling on people to learn how to pay debts or use loans for business rather than buying wigs and phones you are here seaking about the law.
Kindly remember that Placing a loan on nonaccrual status does not erase your legal obligation or change your loan contract

The contract is defective then, I pray she engages me to engage Opay, I will furnish u with the outcome. It's wrong to continue accuring interest on a lost loan. Simple!!

Don't get me wrong she will definitely pay her due, but not in excess of 90days post default, maybe in addition to interest and penalties.

Moreso, the loan app can waive all the interest and penalties and recover their money, it all depends on her Lawyer/Accountant.

Rebelutionary:
Now this is inaccurate...yes after 90 days the loan is classified as lost but does not automatically mean that interest stops accruing on the loan going by your contractual agreement with the loan app.

The CBN regulations stipulates that the interest after 90 days can no longer be classified as income on the books of the loan app because there's a chance they won't collect but doesn't say that interest won't accrue on the loan.

Calm down with the rant abeg!

Please #FACTCHECK before replying that's if you need to.

Is unearned interest ever classified as income in the books of the bank?... what do u mean by "loan being classified as income the books of the loan app", do u even know the difference between loans, interest in suspense and earned interest?.

You are the one that needs to get ur facts right.

Interest are not earned in advance, that ur loan app is deducting ur interest up front doesn't make it right, it's violated CBN guidelines, again, a lost loan doesn't continue to accrued interest "it's lost" and fully provided for pending when it's recovered.

All dis nonsense can only happen in Nigeria where ur Govt have sold y'all for individual ambitions, the fact that you guys still excuse their excesses makes it's more disgusting.

That's wrong, a loan stops accruing interest the moment it's lost.

This violate CBN guidelines for Microfinance Banks which opay falls under, once a loan is overdue by 90 days it's classified as Lost at which point interest stops accruing.

Unfortunately we are in a useless country where laws, rules and institutional guidelines doesn't matter, everyone does as they like.

To top it off, we've a useless Govt that has rewarded everybody except Nigerians...

Chinese loan sharks all over the place charging as much as 700% per annum on loans...Nigerian Govt rewarded them with GIS interface that allows them debit any account linked Via BVN to recover such insanely flawed interest bearing loan.

PS: That a loan is "Lost" in the books of the bank doesn't mean the loanee will not pay, it only means interest will stop accruing, my argument is that the gal's loan should never have reached 9million.

Retire in Peace ?...abi he meant to say rest in pieces?

What will happen to the innocent blood they've shed stealing the people's patrimony.

P.O if this maggot infested brown teeth druglord is not ending up in prison I'm not voting for u!

Imagine, challenging a Governor in his own State.

This tout doesn't know his place, power drunk!

Where are those celebrating that Otti endorsed Tinubu's reelection?...full time OTP

Tinubu is the most unpopular President in Nigerian history, with only 37% of total valid votes he emerged as the President (despite all the rigging and manipulations, despite offing server)

Tinubu will never win 2027, Come and donate your tears

Thieving Government.

Tinubu wants to finish Nigeria kpata kpata, he knows he's leaving next year

Citizens execution is now the new normal.

First it was a Corper, taken out in his own room like planned assassination, now it's harmless and armless women, APC and her e-rats bandits una well done ooo, food don done time to defend another nonsense.

Abeg I want to ask, how many IPOB members have the Fed Govt given amnesty and rehabilitated?

Abi the program is not for agitators with lesser crimes...it's exclusively for Boko haram and Bandits?

They are packing the money to influence election.

INEC officers to become billionaires by February 2027

Referee no gree help...one fact is obvious, without Ref ojoro Messi is just a good average player!

One fact is obvious with this match... without Ref assistance Messi is nothing, at a point I was even doubting if his on pitch.

How they want take buy votes if the people are well fed and productive on their own?

Few hours after seeing US Congress votes against Thiefnibu Corrupt Government and the body language of US Government.

Thiefnibu is gone!

A new Nigeria is POssible

79%?...WTF

That's like over 173 million people and they want to build mega city in Abuja for 2.1trillion naira

Peter Obi is coming

Muslim - Muslim ticket is dead on arrival

Jokers!

There might not be elections next year

If only ghosts were real

The dead has no voice

In japan they make dwalf stature (not taller than hips length) of bad and corrupt leaders in public places and allow people slap and curse them as they are passing.

Nigerians can emulate this pending when we secure death penalty laws for them.

End SARS will look like child's play compared to what's brewing, the risk this administration is taking only suggests one thing...they are enemies of Nigeria and it's possible Tilumbu is not a Nigerian. No one knows his parents, siblings, school mates or even childhood friends.

They are out in full force to destroy Nigeria.