Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption - Politics (4)

Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption - Politics (4) - Nairaland

Nairaland Forum › Nairaland General › Politics › Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption (30097 Views)

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Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by Aqesimitta: 7:13am On Jul 30, 2022

If you wanted to borrow money from bank they ask for guarantor, may be three or two
If you default, it's the guarantor that will face the music

That's why people are careful not to do guarantor for people nowadays
Shark loans have noose neck breaking interst rates. If you don't pay by their stipulated time, their interest will keep soaring sky high

Nobody cares about anybody

Everybody cares about me and only me

No bank operates single digit interest rate, all of thrm are double digits, 39, 35, 33percent

They don't care whether you live or die. That's your own problem

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Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by watchindelta(m): 7:15am On Jul 30, 2022

Rilwayne001:
Countries like USA live heavily on a good credit system.

You don’t need to have money before you build a house or drive a good car. All you need is a job and a good credit score, and there’s available credit system for you that gives you these house on mortgage payment, give you car to pay on credit and pay installmentally from your salary and infact, most tertiary institutions in the USA are on credit for the students.

So on this, he’s right.

he's not right because it what they called stand minimum wage and nigeria don't have it! Let nigeria government fix that first before talking sayarn. Aba

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by Fujiyama: 7:16am On Jul 30, 2022

Arelyn:
He has a genuine point and liberals like me love to hear alternative solutions to the status quo and not the normal shenanigans our politicians dish out to appeal to emotions. I guess this submission and the widening of the tax bracket are different ideas that are not common for politicians to come up with...

^^^
Even a broken clock is right twice in 24 hours.

He has not made any earth shattering or groundbreaking points. These things have been said for decades.

What people do is important, not just what they say. The candidate is not an unknown quantity. He has held public office before. There is only one set of questions surrounding him: Does he pass the integrity test? Does he pass the transparency test?

Anyone can be an advocate for widening the tax net. Or setting up a credit based economy instead of a cash based one. Nothing new there - first year finance and economics students know these things. For this candidate, the key question is whether he will build institutions and the answer, unfortunately is "no".

The facts are there. Did he publicly declare his tax returns while in office? Did he declare his assets publicly while in office? What has he done to 'domesticate' the Freedom of Information Act in his state? And so on.

He is not the right man for the job.

1 Like

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by just2endowed: 7:16am On Jul 30, 2022

iJhoe:
That's very far from the truth

People like him-- politicians are the best source of corruption. They had even institutionalized corruption in Nigeria

Eg given power to agbero to collect free money

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by sp2002(m): 7:16am On Jul 30, 2022

omowolewa:
Even debtors are not paying, is that not corruption?

Ask LAPO

Na me you dey shade o �

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Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by Okoroawusa: 7:18am On Jul 30, 2022

I am BATified

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Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by nnamdi640: 7:19am On Jul 30, 2022

deji17:
Makes lots of sense. This is the real economics.

What sense does it make. Why holding Lagos State on ransom if truly he believed in what he preached

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by Skodiswayze(m): 7:20am On Jul 30, 2022

donbrowser:
Read you won't, watch video, you won't. Hatred has blinded you.

Price of goods have quadrupled in the last 7 years. Wages and salaries has been stagnant(some even take half pay) for years now. EscoBAT says he wants credit facilities to be available, isn’t that stupid? How do they pay back when there’s no means.

This man needs a better time with his grandkids, not with the presidency. Old Demented Fool.

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by lexy2014: 7:20am On Jul 30, 2022

henryobinna:
I don't know he is even talking about corruption. Someone that's been fingered multiple times on corruption allegations.

The cause of corruption is also the cause or enabler of many of other Nigeria's problems and that is lack of accountability. Nobody is held accountable or very few people are held accountable for their crimes which is not good. It's the same reason a police man would tell you; he will shoot/kill you and nothing would happen.

That is it.

Brilliant write up. You are absolutely on point.

1 Like

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by mycar: 7:21am On Jul 30, 2022

Tareq1105:
Are you blaming their gullibility? You know all these Obi people are indomie children with little or no knowledge of good governance. I agree with them about the state of the nation but they don't think deeply and that's the mistake millions of Nigerians made in 2015. I mean this "kick and go" support for Buhari and APC took advantage of it not knowing that our man knew next to nothing. The same mistake is about to be repeated by these children. Capacity and experience is very key and that's what would inform my final decision next year.

Think it through, how can government give you loan without an assured means to pay back, those that qualified have always gotten a loan, banks are even begging people to come and collect a loan but the challenge is paying back. Job security is another thing. Anybody giving out loan must have the means to get their money back.
If you make it less secured, they will lend money to their family and friends knowing that you cannot default without been jailed and that itself is another avenue for corruption.
Think well or ask any banker you know

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by IfnobeGod20(m): 7:22am On Jul 30, 2022

Giving credit facility can not stop corruption in Nigeria. Let us first ask ourselves, why are those that have enough money still embezzling our common patrimony up and down?
For corruption to be nip in the bud, there's need to create enabling environment, create job opportunities and most importantly let there be attitudinal change. 70% of Nigerians are not patriotic at all. What is meant for a community, one person would won't to pack everything, not because he doesn't has but the greed in him/her.
Give loan to everyone, if there is no enabling environment, the money will fly away and repayment will be difficult. Why on the average, some are corrupt, not because they are not earning well but they want to meet up with taste because their income cannot meet up with demand. If such man is giving loan, the money given will drain because of bad economy.
So giving loan to curb corruption is secondary. The primary issues should be consider before the secondary.

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Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by lexy2014: 7:23am On Jul 30, 2022

Rilwayne001:
Countries like USA live heavily on a good credit system.

You don’t need to have money before you build a house or drive a good car. All you need is a job and a good credit score, and there’s available credit system for you that gives you these house on mortgage payment, give you car to pay on credit and pay installmentally from your salary and infact, most tertiary institutions in the USA are on credit for the students.

So on this, he’s right.

How will all these nip corruption in the bud?

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by nnamdi640: 7:25am On Jul 30, 2022

LordGuru1:
That's very true.

What is truth about what he said. A corrupt man will always be corrupt even when he has all the access to the credit facilities in whole world. He is a case study

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by niel63(m): 7:26am On Jul 30, 2022

Credit facilities? Really?

Another loan sharks in disguise.
This is Nigeria.
Credit facilities that weren't put in place when we had refineries and other export products to sustain us.

Na 2023 we wan start Credit facility. Una try well well. No politician is a Saint. I just hope to see a better Nigeria.
Let the best man win.

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by 27Pushing30: 7:27am On Jul 30, 2022

lexy2014:
How does availability of credit facilities nip corruption in the bud?

What is the cause of corruption in Nigeria?

I’m guessing you did not even bother to watch the video

Abroad everyone has a credit card from the waiter I’m the restaurant to the fortune 100 CEO.

An African girl once did a vid saying “they say Africans are poor but if you see an African with an iPhone know that he paid for it 100% but a fin you see with an iPhone most likely bought it using credit card … so who is poor?”

What she did not realize is that credit means the guy isn’t looking for who to use for ritual so he can get rich

That credit means he isn’t looking for who to steal from so he can eat

That credit means he isn’t looking for motorist to fine for a traffic infraction so his family can eat

In developed countries almost everyone is on CREDIT

4 Likes

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by Babachukwu: 7:28am On Jul 30, 2022

I don't know what you see, for me I saw that old man reading a written script

1 Like 1 Share

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by phemmyfour: 7:28am On Jul 30, 2022

Emir01:
Are millions of people not genuinely employed in Nigeria from government workers to multinational companies? What's your point? This is not a container economic discussion.

Millions my foot!

Olodo
Go back and read my post

Those employed cannot afford credit facilities with their peanut. Graduates are out there chasing Npower 2yrs contract program

1 Like 1 Share

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by yahmohy27: 7:28am On Jul 30, 2022

seguno2:
The clueless agbado man should STFU if he does not know that his failure to employ people to provide government services like free education for all children, utilities like water in every building, facilities like primary healthcare centres with enough personnel etc is responsible for widespread corruption.

Is like most ipob are always online for their brother to always win online oo! As if they don't have work or open their shops in the morning and then stay glued to their phones and laptops

2 Likes

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by shinealight(m): 7:29am On Jul 30, 2022

lexy2014:
How does availability of credit facilities nip corruption in the bud?

What is the cause of corruption in Nigeria?

Apply common sense, my friend. If you can walk into a mortgage bank and take a loan of N100million at a mere 3% interest per annum to buy your dream house without having to bribe the bank manager, would you think of doctoring government papers in your office to siphon away Pensioners’ savings because you want to provide a home for your family? huh

4 Likes

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by Arelyn: 7:29am On Jul 30, 2022

mycar:
Where will you get the collateral from or don't you think that we have such in place, what of the interest as banks would want?

We have it in place but you have to be qualified to access it which most Nigerians are not qualified for.

You can't just give a loan to someone that cannot pay. My bank is even begging me to collect a loan which I turned down.
The inflation rate won't even allow lenders to give out loans too

There are unemployed people everywhere in the world and that's why credit facilities are means-tested. If you don't have the means to pay for it, you can't get it...

There are millions of Government workers who are unable to get a roof over their heads but earn enough to afford to contribute 30K to 50K every month to pay over a long period like 30-35years to have a house to themselves. Credit facilities will ensure they can buy whatever they can afford to pay over some time. It is so funny that people can use this facility to buy something as stupid as a Phone and repay over 12-36months depending on what they can afford to pay, that's why it is always means-tested and not collateral dependent as we presently have in Nigeria.

The unemployed will have to get a means to attain regular income, an okada driver, a bus driver etc will comfortably own home if credit systems are in place unlike the present situation where individuals need to raise a bulk amount to buy land, raise another to do foundation and the cycle goes on

3 Likes

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by AdeniyiA(m): 7:30am On Jul 30, 2022

More like saying "I couldn't get credit while in office that's why I engaged myself in corrupt deeds"

Is like Buhari traveling abroad to give lecture of fighting insecurity.
Talk is cheap sad

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by InvertedHammer: 7:32am On Jul 30, 2022

/
Check out those saying he is intelligent without even the slightest clue about what the man was bleating about.

Banks advance credit facilities to those who "qualify". The question is: How do millions of "unemployed" or "underemployed" youths access credit facilities? Or should banks hand out money to people because Tinubu says so? Tinubu is living in lala land.

Tinubu is putting the cart before the horse. Economy and Employment are the priorities now. Apparently his speech was aimed at those doing well in the society. I guess the best he can do for the unemployed still remains agbado and cassava.

/

1 Like

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by etrouble: 7:32am On Jul 30, 2022

lexy2014:
How does availability of credit facilities nip corruption in the bud?

What is the cause of corruption in Nigeria?

Only those with brains will understand. It's beyond your reasoning

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by Tywo2018: 7:34am On Jul 30, 2022

Tinubu mehn Pa mi naw.. wink

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by descarado: 7:35am On Jul 30, 2022

Arelyn:
Credit facilities such as Mortgages, Car loans, personal loans, Educational loans etc are certainly the way to go to attain luxury in most developed countries everyone wants to "Japa" to.....Availability of both soft loans and hard loans will reduce dependence on bulky cash transactions; a precursor for corruption) which means individuals only need to find a regular and steady means of paying back a predetermined amount then other secondary needs can be achieved with ease

You can try to deny it but a large number of Nigerians in the diaspora who have a house to themselves today or will buy in future can only achieve it through a mortgage and you don't need to be in the most glamorous of all jobs to own a home in most of these countries because individuals are means-tested before loans are handed to them and such loans are protected with different forms of insurance ( mortgage insurance, life assurance, income protection insurance etc.)

He has a genuine point and liberals like me love to hear alternative solutions to the status quo and not the normal shenanigans our politicians dish out to appeal to emotions. I guess this submission and the widening of the tax bracket are different ideas that are not common for politicians to come up with...

That is absolutely a hogwash.
You access credit facility when you are employed and has way of paying in the West.
If you fail to meet up, you will be penalised. More problem for you.
In Nigeria, where is the work?
Millions are unemployed.
You don't take the cart before the horse but that's what he is doing already.
As long as production and exportation remain zero in Nigeria, a dollar will become 1k very soon. Simple basic economics.

China was nothing 30 yrs ago.
We still boast, we don't want made in China but the same made in China has made them the world's second economy.
What do you produce, nothing.
Even aba people that are producing, ethnic hatred stiffled their growth from the centre.

Nigeria is number one globally in throwing lavish party. We waste more than we make.
You are giving out loans to people that is not captured on database?

If you are part of his team, tell them to write better proposals for him as this is a total f.

Each state has strength, he should capitalise on that. That is the message he should be sending. Message of hope and excitement.

That is why obi is gaining momentum.
For the first time, the poor people in the North felt they are part of the system and are eager to work even though they are not educated.
The world has more nonskilled workers than skilled workers.
Give them hope not coming every 4 years to use them under the disguise of religion after bribing They are tired. As long as those in power continue to practice politics of exclusion, Nigeria will never get better rather it will be worst. No country has ever progressed with that. Just a matter of time for the masses to come for the elite. Uprising starts any day and Nigeria is not immune to it. It take just one little nudge

Dust your sociology and psychology textbooks and read. It's no miracle. That's how the developed countries emerged.

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by lexy2014: 7:35am On Jul 30, 2022

shinealight:
Apply common sense, my friend. If you can walk into a mortgage bank and take a loan of N100million at a mere 3% interest per annum to buy your dream house without having to bribe the bank manager, would you think of doctoring government papers in your office to siphon away Pensioners’ savings because you want to provide a home for your family?

With your common sense, you haven't answered the simple questions.

How does availability of credit facilities nip corruption in the bud?

What is the cause of corruption in Nigeria?

The accountant general that stole 81billion naira, is it because he didn't have a home for his family?

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by Weezy463: 7:35am On Jul 30, 2022

Aufbauh:
This man really sabi economics.
If not for his age/health concern to me, non of the presidential aspirants is close to him in capacity and deliverables.

No one thought of this as deterrent to corruption even in the past. This is a classical case of thinking outside the box by BAT.

why are u thinking like dis?

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by lexy2014: 7:36am On Jul 30, 2022

27Pushing30:
I’m guessing you did not even bother to watch the video

Abroad everyone has a credit card from the waiter I’m the restaurant to the fortune 100 CEO.

An African girl once did a vid saying “they say Africans are poor but if you see an African with an iPhone know that he paid for it 100% but a fin you see with an iPhone most likely bought it using credit card … so who is poor?”

What she did not realize is that credit means the guy isn’t looking for who to use for ritual so he can get rich

That credit means he isn’t looking for who to steal from so he can eat

That credit means he isn’t looking for motorist to fine for a traffic infraction so his family can eat

In developed countries almost everyone is on CREDIT

You haven't answered the simple questions.

How does availability of credit facilities nip corruption in the bud?

What is the cause of corruption in Nigeria?

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by lexy2014: 7:36am On Jul 30, 2022

Aufbauh:
This man really sabi economics.
If not for his age/health concern to me, non of the presidential aspirants is close to him in capacity and deliverables.

No one thought of this as deterrent to corruption even in the past. This is a classical case of thinking outside the box by BAT.

How does availability of credit facilities nip corruption in the bud?

What is the cause of corruption in Nigeria?

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by rusher14: 7:37am On Jul 30, 2022

Kobicove:
Nigerians have a culture of not wanting to repay debts...this is one of the reasons why access to credit is highly restricted in this country

Nobody likes to pay debt, even in advanced countries but there are ways to ensure they do.

Garnishing of wages is one.

Risk of jail term is another.

Re: Tinubu: Lack Of Access To Credit Facilities Is A Major Cause Of Corruption by BATified2023: 7:39am On Jul 30, 2022

lexy2014:
How does availability of credit facilities nip corruption in the bud?

What is the cause of corruption in Nigeria?

when u have enough to sort your bills n u can always pay later u will never think of stealing at work or bribery

Just imagine u need urgent 100k n it’s very important to get it,if there’s availability of credit facility u can always approach credit facilitators n get d cash but imagine in a situation u can’t access credit anyone who gives u an offer of corruption u will surely go for it

What it means is that if u have many options to solve your problem u won’t think of stealing

I hope I made sense

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