Are you referring to me sir? Yes sir pls i need ur reply thanks.

Thermythorpe:
if not for the high unemployment rate in the country,these loaning institutions would never thrive..
Is it how you toil to mobilize customers abi d way dey deduct customers defaults from your salary abi d late hours of work,omo u go wan kpensh on top d job..
Op,Just plan ur exit abi escape route from first day of resuming work..
keep the hope alive
God go bless us all !!.

Unto how much self?

That job as a credit/loan officer will turn you to another person entirely. It is pure madness both in office and on field.

Bebson007:
Are you referring to me sir?
Yes sir pls i need ur reply thanks.

Ok sir, from my own little knowledge, we have 3 types, it depends on the one you want to start; we have
1) Unit microfinance bank; it requires at least 200million naira as start up. It's not permitted to operate by opening branches or money centres apart from the main office.
2) State microfinance bank; requires a minimum of 1billion naira in the capital base to start, it requires approval by the CBN to operates in the same state when a new branch wants to open.
3), National Microfinance bank; requires the highest cash as startup capital of 5billion naira and it can operates in all States of the country although it must be approved by the CBN for each branch that is to be opened.

kabanayol9:
I get you, we are in this together, GOD no go shame us.

Amen brother

captainking:
This is the Most irrelevant question I have come across this year..

Any job that puts food on the table is not a bad job..

Work for a while.. Save..and move on... If you ain't happy with the job..


Besides.. Some loan officer jobs pay more than commercial bank jobs..
I speak from experience.

Bros it isn't the most irrelevant question sir, i love doing legit jobs to put food on my table but if the working conditions aren't favourable, you mentioned something of moving on when one's is tired, how do you intend to do so, when some of this loan institutions tied you down stylishly by saying your debt profile must not be above 5%, money you gave out to customers o, do your findings before reaching conclusion sir.

Bro some mfb gives individual loans. I knw alot of their staffs salary has been pinned down due to overdue. And who told u bad debts are written off after 6months? Those monies are recovered it might take time.

Did u browse this write up? U can start small even with 5hundred thousand or 1 million. I thought u are into d system. I needed some raw information.

kabanayol9:
Unemployment has really dealt with this country called Nigeria, to me i think the easiest job offer to get as a nigerian graduates who do not know oga's at the top is the job offer of a loan/credit officer, i just wants us to share our opinions about this, will you accept the offer considering the troubles the job entails?
You give out loans to men and women who does business and they are to pay back either on a weekly or monthly basis, to collect money � sweet die, to return am as they have promised is a problem, even it does happen amongst us either with our friends or families when they seek for monetary help and you help them with it, it is when they are to return your money back to you, they start giving you stories and excuses of non repayment.
Would you advice someone who doesn't have a job to accept such offers? thank you.

Every credit should be backed up with an agreement, possibly with a lawyer or police involvement .

[quote author=Bebson007 post=101309789][/quote] I'm just kidding though

LAPO affiliate can relate...

Happy Sunday by the way...

mrnairaland1:
Most ladies will thrive here, but most guys will be frustrated out of job

So, a chronic defaulter will stop being one because a lady just happened to be his/her account officer
You no wise. Your 'likers' inclusive

I am currently working as an LO. there is cool cash if you work hard. and the job is hyper frustrating

kabanayol9:

Bros it isn't the most irrelevant question sir, i love doing legit jobs to put food on my table but if the working conditions aren't favourable, you mentioned something of moving on when one's is tired, how do you intend to do so, when some of this loan institutions tied you down stylishly by saying your debt profile must not be above 5%, money you gave out to customers o, do your findings before reaching conclusion sir.

Bro.. No loan company can stop you from resigning.. I have been in credit and loans for 7 years and have worked with 4 finance firms officially and 1 unofficially.. It's true..some don't pay so well.. Esp those unit mfbs that disregard employees welfare...state and national mfbs or finance houses are a great place to work..
All the Same... Carefully study the offer.. If it's true that you can't resign if your debt profile or PAR is above 5%..then that's pure slavery...
I would like to know the name of the finance firm or mfb thats doing this.. I want to check something...

patriotic007:
Ignorance....get more information on what you are saying so you don't say what you don't know... Microfinance operation is tailored to counter all those things you mentioned...1)the borrowers are grouped into unions which are independent and self selective.they hold meetings every week and they have leaders and secretary.they bear most responsibility of defaulting members.Also the unions have a purse or account which they fund independently for such purposes and they even go after defaulting members on their own or you can accompany them if you wish 2) nobody deduct a borrower's loan from your salary or else you are involved financially in the loan.normally chronic defaults are written of 6 months are the expiration of the loan tenure,.

Don't call him ignorant!

You seem to be working LAPO or Grooming MFI

Well this is the strategy most MFIs uses which still boils down to same thing OP is pointing out, whether Union purse or not the job is stressfull.. As a Credit Officer or LO you have to indulge in frequent loan drives because not all leaders and secretaries want to dent their image for a company that don't pay them a dime except stipends given to them by fellow clients..

So OP, you are right, the job is extremely hectic, but not all the time,if you are lucky to work for some the biggest MFIs in Nigeria their pay is manageable(Mostly above 70k) you can still do it.. Just seek for advice from a good source.


There is always a way around everything

hakeem4:
No, but I can do the job of a pallbearer, it is very lucrative in this administration.

What do you mean by pallbearer .explain more pls

Henryifi:

What do you mean by pallbearer .explain more pls

Don't you use Google sir.

I did that job for just 3 months n it was like 3 years. Had to run for my life.

I almost lost my manners n beliefs as my colleagues were always telling me gentility wouldn't work on d job,. It was terrible.

I remember a particular customer who continuously defaulted told me one day "u better be careful if u want ur parents to still continue seeing you" . The Mama na all those diabolical women n my boss never wanted to follow me see her yet they were always deducting from my salary.

I ran n left my money with them self. The job isn't really advisable. It brings the worst out of u.

Gubularaska:

Unto how much self?

for peanut ooo
the thing tire me

Thermythorpe:


for peanut ooo

the thing tire me

Quote litigator. Me and am be discuss one time. I go remind am if e still vacant.

If you can't operate like Carbon does, it's not loan but extortion

Will like to discuss with you please sir. I need counsel on matter like this

tradepunter:
I don't know why you guys sweat over load repayment.

Your due diligence is bad in the first place because you all use the same format and the person in charge of the due diligence are not passionate, because they just wanna make their cut.

Due diligence is more like intelligence gathering in a covert manner, forget legalities.

The moment you ask for loan is the moment you risk profile comes active. Meaning you are fair game to any form of due diligence outside the normal standard one.

Lemme bust you guys head, we handle a case... The guarantor connived with the applicant to present a forged document against an asset that was to be used for a loan of 45 million.

The overall boss as an old risk analyst from DIA reached out... On investigation the plan were all mirage because it had a chain of flow to make it appear real.

In summary covert intelligence gathering was used to uncover lots of lots of set up that a risk analyst won't see...

Loan business have created an ecosystem that includes professional forgers... One of which was busted by covert investigation.

choice17:
Why not?
The most important thing is to do your due diligence before issuing loan to anybody and have legal backings to tackle defaulters.

I'm with you on this. I presently work as a Loan Officer.

Can you please put me through on how to involve the police or military on debt recovery ?

jimmyolasun:
I presently run a microfinance institution and I can boldly say never will I accept the job of a loan officer. sometimes, I pity the staffs whenever I go round to check how they faring in all branches and I eventually had to sign an agreement with the police and soldiers to assist in loan recovery so to ease the stress the LO face on field..

naa, the business dey lucrative for someone like myself tho.. naa cool cash

I really and seriously doubt it...

Sewa90:



Dear Op,I work as a loan officer,been working as a loan officer for two years now and I have colleagues that have spent more than 6 years,everything about this life is a risk you know
It is not as bad as you think though it depends on the organization and the location,for me it’s better than staying at home,I do my proper verification before giving out any loan

same here ma'am. Do your due diligence before giving out a loan

No

Bebson007:
Did u browse this write up? U can start small even with 5hundred thousand or 1 million. I thought u are into d system. I needed some raw information.

That is Cooperative and credit society or investment company.

toyinsalammy:
I did that job for just 3 months n it was like 3 years. Had to run for my life.

I almost lost my manners n beliefs as my colleagues were always telling me gentility wouldn't work on d job,. It was terrible.

I remember a particular customer who continuously defaulted told me one day "u better be careful if u want ur parents to still continue seeing you" . The Mama na all those diabolical women n my boss never wanted to follow me see her yet they were always deducting from my salary.

I ran n left my money with them self. The job isn't really advisable. It brings the worst out of u.

Thank GOD for your life, some CO's/LO's ain't that lucky, you really know how bad the job is.

Arkmanbuddy:


What company was that? I also almost got employed at Baobab Mfb for a loan officer. How I got rejected is still baffling.

Long time ago actually. 2013. With Lafayette bank or so.

Gubularaska:



Quote litigator. Me and am be discuss one time. I go remind am if e still vacant.

litigator

kabanayol9:
Unemployment has really dealt with this country called Nigeria, to me i think the easiest job offer to get as a nigerian graduates who do not know oga's at the top is the job offer of a loan/credit officer, i just wants us to share our opinions about this, will you accept the offer considering the troubles the job entails?
You give out loans to men and women who does business and they are to pay back either on a weekly or monthly basis, to collect money � sweet die, to return am as they have promised is a problem, even it does happen amongst us either with our friends or families when they seek for monetary help and you help them with it, it is when they are to return your money back to you, they start giving you stories and excuses of non repayment.
Would you advice someone who doesn't have a job to accept such offers? thank you.

mr man these kind work is for agberos,i shout run for your life,run for your unnecessary stress, run from quick depression