₦airaland Forum

Itsrm:
The days when bankers were doing real banking. When last did anyone beg you to open an account with them?

Now they just sit back and make easy money.

real banking?

not sure how hustling people to open account translates to real banking, unless those people are unbanked to begin with.

GloriousGbola:
People were not meeting target, oga at the top sent general warning email and someone forwarded it out of the company and it went viral

https://www.nairaland.com/722543/access-bank-md-aigboje-aig-imoukhuede


I read that AIG took the public beating then hired some forensics guys to track down who sent out the email.

Omo!

I've actually heard stories of how toxic he can be, but I din't know it got this bad. I think it's actually unprofessional for him to have used the words " It shall not be well with them...." E no make sense at all.

That being said, those who leaked the memo also got what they deserved. Even though na 2011 with few people having a full understanding that origin of such mails can be traced; it still doesn't excuse their unreasonableness. U dey use office computer share office classified memo give outsiders. Na ment be that.

At least blackberry dey reign for 2011 wella, dem for just snap the mail and share the snapshot if dem wan show their friends(Cos I believe whoever shared the mail must have planned to share with a friend or relative to show the kind of pressure he is faing at work, not knowing the thing will go viral and embarass oga at the top).

Itsrm:
The days when bankers were doing real banking. When last did anyone beg you to open an account with them?

Now they just sit back and make easy money.

Banking has evolved beyond what it used to be. The advent of FinTech's, modern microfinance banks and even new & existing commercial banks embracing IT solutions for banking services is why u don't see anybody coming to beg u to open account with them.

Bandidos(spanish series)

https://driveseed.org/file/5TSfx0QXAL

9/11 documentary

https://driveseed.org/file/0lMwlu31AN

the cold war documentary

https://driveseed.org/file/MWnxaxc6Ai


Blueraydick

iamoyindamola:
You can't even leak sensitive information like this
These guys are just stupid by default, true or false this kind information is very risky
Everyone knows the terrorists don't value their own lives

Exactly. Look at the way they killed that lady that had first class from ABU when her parents were not forthcoming with the ransom for her and her sisters whom were kidnapped in Abuja.

GloriousGbola:
real banking?

not sure how hustling people to open account translates to real banking, unless those people are unbanked to begin with.

It's from that same hustle you get people who are loaded with cash to open accounts and do your fixed deposits. It's when they open accounts you get to sell your loan offers to them. So it's real banking.

These days, banks don't even like fixed deposit or your deposit in savings account. They call them high cost funds. They prefer low or no cost funds like current account deposits. They know there's easy money to be made elsewhere.

iamoyindamola:
Bandidos(spanish series)

https://driveseed.org/file/5TSfx0QXAL

9/11 documentary

https://driveseed.org/file/0lMwlu31AN

the cold war documentary

https://driveseed.org/file/MWnxaxc6Ai


Blueraydick

Thank You.

BlueRayDick:
Banking has evolved beyond what it used to be. The advent of FinTech's, modern microfinance banks and even new & existing commercial banks embracing IT solutions for banking services is why u don't see anybody coming to beg u to open account with them.

No, I disagree. It's because they are no longer reliant on getting new bank accounts as they used do.

I remember when it used to be a thing to celebrate bankers who bring in accounts with huge money to the bank. They will send a mail and copy all staff nationwide.

These days, they no longer do it.

What does it mean to be middle class?

And how much do you have to earn in Nigeria right now to fall under middle class

Itsrm:
It's from that same hustle you get people who are loaded with cash to open accounts and do your fixed deposits. It's when they open accounts you get to sell your loan offers to them. So it's real banking.

These days, banks don't even like fixed deposit or your deposit in savings account. They call them high cost funds. They prefer low or no cost funds like current account deposits. They know there's easy money to be made elsewhere.

i am not sure it is about easy money so much as it is about actual value.

GloriousGbola:
i am not sure it is about easy money so much as it is about actual value.

It is. Look at it this way, why will I collect your money, give you fixed deposit at 13% and use your money to buy treasury bill from the government at 20% when I can pool money from current account holders that I'm not paying interest and earn the entire 20% to myself.

Or I can just buy fx with it and make all the money to myself from devaluation.

If that was not the case, then I'll have to make people open accounts, give them loans they may end up not paying and suffer losses.

liveLongNprospa:
What does it mean to be middle class?

And how much do you have to earn in Nigeria right now to fall under middle class

You've been following the arguments on twitter.

In my opinion, if you have a car, can send your kids to decent schools, feed properly and can afford most basic things you need then you're a middle class earner.

I'll put the amount between 400k-1m monthly.

Itsrm:
No, I disagree. It's because they are no longer reliant on getting new bank accounts as they used do.

I remember when it used to be a thing to celebrate bankers who bring in accounts with huge money to the bank. They will send a mail and copy all staff nationwide.

These days, they no longer do it.

Bankers still get target to get new customers and they still try as much as they can to meet them. At least they still lambast people who don't meet targets at MPR meetings.

What I'm saying is that banks nowadays make money from different channels that were not available to them in the past. Some of the commercial banks have their own fintech like Wema's alat, GTB's squad, etc that competes with other Fintechs as payment solutions which earns them more income. Banks like Accessbank, UBA etc have overseas branches in the UK and other countries. The group does not need to send marketers to come knocking ur door every week like Jehovah witness before they make money nowadays.

That's the point I was trying to make.

Itsrm:
You've been following the arguments on twitter.

In my opinion, if you have a car, can send your kids to decent schools, feed properly and can afford most basic things you need then you're a middle class earner.

I'll put the amount between 400k-1m monthly.

Car is a luxury why not change the car to a house that is your own
Not paying house rent is a better peace of mind than owning a car you will surely be spending on

iamoyindamola:
Car is a luxury why not change the car to a house that is your own
Not paying house rent is a better peace of mind than owning a car you will surely be spending on

lolz

House gangan is the luxury. Do u know what it takes to build a house in Nigeria today? If u can afford to pay ur rent as at when due and fuel a car that belongs to u; then u doing well in middle class.

U go need years of serious savings to even think of digging foundation in Nigeria of today, if not make e no be say na yam u go later plant for that ground wey u dig o

BlueRayDick:
lolz

House gangan is the luxury. Do u know what it takes to build a house in Nigeria today? If u can afford to pay ur rent as at when due and fuel a car that belongs to u; then u doing well in middle class.

U go need years of serious savings to even think of digging foundation in Nigeria of today, if not make e no be say na yam u go later plant for that ground wey u dig o

To get a good car in today nigeria you will be needing from 5m
Are you saying with 5m you can't buy land and build 2 bedroom bungalow with it?

iamoyindamola:
Car is a luxury why not change the car to a house that is your own
Not paying house rent is a better peace of mind than owning a car you will surely be spending on

I don't see cars as luxuries. I think it's a necessity.

Secondly, a lot of people including myself belong to a school of thought that it's a waste of money building a residential apartment. It will probably cost me my rent of 50-60 years to build a decent 2 bedroom apartment in PH today. Why will I want to do that?

So one can be a middle class earner and either cannot afford to build his own house or it doesn't just make financial sense to do it.

iamoyindamola:
To get a good car in today nigeria you will be needing from 5m
Are you saying with 5m you can't buy land and build 2 bedroom bungalow with it?

I read somewhere cement alone will cost you 3m in todays Nigeria to build a 2 bedroom apartment.

Itsrm:
I read somewhere cement alone will cost you 3m in todays Nigeria to build a 2 bedroom apartment.

Wetin happen na
Cement 3m to build house

Itsrm:
I don't see cars as luxuries. I think it's a necessity.

Secondly, a lot of people including myself belong to a school of thought that it's a waste of money building a residential apartment. It will probably cost me my rent of 50-60 years to build a decent 2 bedroom apartment in PH today. Why will I want to do that?

So one can be a middle class earner and either cannot afford to build his own house or it doesn't just make financial sense to do it.

hmm, so you don't like to be confined in your own space and privacy 🔏?

iamoyindamola:
Wetin happen na
Cement 3m to build house

At 8000 per bag, that's 375 bags. Anyway, like I said, I read it somewhere. Anything building is not my forte.

seankafor:
hmm, so you don't like to be confined in your own space and privacy 🔏?

At the cost of 50-60 year rent, no way.

I mean, I can't because of privacy even though important spend my rent of 60 years to build a house.

Itsrm:
You've been following the arguments on twitter.

In my opinion, if you have a car, can send your kids to decent schools, feed properly and can afford most basic things you need then you're a middle class earner.

I'll put the amount between 400k-1m monthly.

400-1m?
Interesting.
But what about holidays? Like travelling to another country atleast once a year. Should that be impossible for a middle class family? Is 1m salary capable of paying for that especially if you have kids?

iamoyindamola:
To get a good car in today nigeria you will be needing from 5m
Are you saying with 5m you can't buy land and build 2 bedroom bungalow with it?

[color=royalblue]Buy land where?
[/color]

liveLongNprospa:
400-1m?
Interesting.
But what about holidays? Like travelling to another country atleast once a year. Should that be impossible for a middle class family? Is 1m salary capable of paying for that especially if you have kids?

In my opinion, travelling and vacation is not middle class lifestyle. At least, not in this country.

I know people tend to use general definition of middle class families forgetting those abroad can take 50 dollar flights for those vacations.

Our reality here is different. If we can also take 50 dollar flights between African countries then most middle income earners can afford that.

izzou:
[color=royalblue]Buy land where?
[/color]

Are there no land in epe, ajah, ikorodu again

iamoyindamola:
To get a good car in today nigeria you will be needing from 5m
Are you saying with 5m you can't buy land and build 2 bedroom bungalow with it?

Take it from me as someone who was actively involved in a residential building project between may to September 2023( It was to complete an already roofed uncomepleted building project o) ; N5m will not do shit for u in Lagos as far as building a 2 bedroom is concerned.

Do u even know how much u will do aluminium window? Sharp sand truck, red sand truck, bags of cement, blocks...etc

Omo, u better go use ur N5m buy camry make u dey enjoy ur life

liveLongNprospa:
400-1m?
Interesting.
But what about holidays? Like travelling to another country atleast once a year. Should that be impossible for a middle class family? Is 1m salary capable of paying for that especially if you have kids?

They play no be only holidays na vacation

BlueRayDick:
Take it from me as someone who was actively involved in a residential building project between may to September 2023( It was to complete an already roofed uncomepleted building project o) ; N5m will not do shit for u in Lagos as far as building a 2 bedroom is concerned.

Do u even know how much u will do aluminium window? Sharp sand truck, red sand truck, bags of cement, blocks...etc

Omo, u better go use ur N5m buy camry make u dey enjoy ur life

Iamoyindamola this was like an updated price about a month or two ago o

And for ur information , land for places like Mowe sef wey no be Lagos don dey reach like 8m

BlueRayDick:
Take it from me as someone who was actively involved in a residential building project between may to September 2023( It was to complete an already roofed uncomepleted building project o) ; N5m will not do shit for u in Lagos as far as building a 2 bedroom is concerned.

Do u even know how much u will do aluminium window? Sharp sand truck, red sand truck, bags of cement, blocks...etc

Omo, u better go use ur N5m buy camry make u dey enjoy ur life

whicj camry dem deg buy for 5m

BlueRayDick:
Bankers still get target to get new customers and they still try as much as they can to meet them. At least they still lambast people who don't meet targets at MPR meetings.

What I'm saying is that banks nowadays make money from different channels that were not available to them in the past. Some of the commercial banks have their own fintech like Wema's alat, GTB's squad, etc that competes with other Fintechs as payment solutions which earns them more income. Banks like Accessbank, UBA etc have overseas branches in the UK and other countries. The group does not need to send marketers to come knocking ur door every week like Jehovah witness before they make money nowadays.

That's the point I was trying to make.

same way we no longer buy credit from recharge card sellers, but via app. i think it is more a sign of a happy evolution.

https://www.nairaland.com/7854247/fixed-deposit-interest-rates-banks

fixed deposit may not even be worth it at those rates