₦airaland Forum

Wetin dey cause the depression? No be loan you collected the government collect back?

Dishonest folks everywhere

Will the Loan not yeild interest...

Orhzuorh

Students Open ur brain now concerning student loan

Imagine the guy doesn't even know how loan work.
Like I will always say, Nigerians don't like paying debt.

Aeroplane11:
WHy didn't he pay back the loan all this while?
Very funny and dishonest folks

imagine the guy evening towing the blackmail route of may Nigeria never happen to u even when he's d wrong one here

smartemperor042:
This also happened to my friend.

There were no clear cut directives on how to repay the loan.

Moreover, why not split the money in batches?

This is so terrible!!!

2020 to now is 5years .Go to any of the new generation bank and loan such amount.that amount deducted as interest over 5years is what most of the banks will take for just a year loan.
Am sure baba was aware of the terms and conditions but thought it was a free money and never considered the condition of issuing out the loan

If you take a loan and you refuse to pay back on due date, your account with another bank will be debited of the loan amount with the interest accrued. No hiding place for loan defaulters again

Chilipepper:
A Nigerian tailor has lamented bitterly after receiving a debit alert of N580k for a COVID-19 loan he took years ago. He said the money removed from his account was more than the loan he had taken. How much he borrowed years back is in the comments.

Photo Credit: Facebook/Zubi Con Cept

Are they father Christmas? It's called interest

Nigerian no de pay loan.

See this illiterate JJC

Sharpsharp00123:
So this guy wasn't expecting them to collect interest right?

These people have been so grounded in their insensitivity that he took a loan n never bothered to pay and when the money was debited all he has to say is "may Nigeria never happen to u"

So can this guy try this in saner climes?

I don't even blame him, check d name n see where he is from first

They blame Nigeria for everything n play victim even when they are wrong

You don't know some Nigerians. They think differently.

This is one of the benefits of loans. Take 400k loan in 2020. Pay back 580k in 2025, leaving the creditor with the burden of inflation. You should be grateful that you're paying back only 580k as against #2m (if we account for inflation).

Aeroplane11:
WHy didn't he pay back the loan all this while?
Very funny and dishonest folks

cho cho cho cho

you don't even know the process of paying back the loan.

See why a senior school leaving certificate is the minimum requirement for any individual?

Terrible? Smh

smartemperor042:
This also happened to my friend.

There were no clear cut directives on how to repay the loan.

Moreover, why not split the money in batches?

This is so terrible!!!

was he told it was interest free loan? The amount is even smaller .
Most Nigerians who benefited from this Nisral loans mistook it for free money with no intention of paying back yet we blame government for retrogression .

Accummulated interest , abi it is interest free loan, so you think it is free money abi, na God catch you

Chilipepper:
A Nigerian tailor has lamented bitterly after receiving a debit alert of N580k for a COVID-19 loan he took years ago. He said the money removed from his account was more than the loan he had taken. How much he borrowed years back is in the comments.

Photo Credit: Facebook/Zubi Con Cept

Sharpsharp00123:
So this guy wasn't expecting them to collect interest right?

These people have been so grounded in their insensitivity that he took a loan n never bothered to pay and when the money was debited all he has to say is "may Nigeria never happen to u"

So can this guy try this in saner climes?

I don't even blame him, check d name n see where he is from first

They blame Nigeria for everything n play victim even when they are wrong

Even your parents debit

Check your surname first

Chilipepper:
A Nigerian tailor has lamented bitterly after receiving a debit alert of N580k for a COVID-19 loan he took years ago. He said the money removed from his account was more than the loan he had taken. How much he borrowed years back is in the comments.

Photo Credit: Facebook/Zubi Con Cept

It is not just Nigeria that happened to him, rather it is the unfortunate gathering called APC that happened to him.

Squeezing out money from the poorest of the poor to provide luxuries for themselves and loot instead of employing civil servants and paying them well to deliver basic services and utilities to the people.

Is it just tribalism that has made us sink so low for these leaders looters to exploit us so much?
Or there is someting else to it



https://www.youtube.com/watch?v=dMWUS1W_ITc?si=NZZPNaKIEW4_1DnB

chisomkachy:
Nigerian President Bola Tinubu’s first supplementary budget includes a fleet of SUVs for himself and his wife, a presidential yacht and the renovation of his villa amid a cost-of-living crisis for some of the poorest people in the world.

The proposal — which seeks additional funding beyond the annual budget approved by Tinubu’s predecessor — comes as the government asks Nigerians to persevere through pain caused in part by a raft of economic reforms ushered in by the new president. Africa’s most populous country faces rampant unemployment, soaring food prices and a plummeting currency.

Federal lawmakers approved the president’s request for extra spending on Thursday, but eliminated the provision of 5 billion naira ($6.01 million) to buy a presidential yacht. Instead, they doubled the allocation to a student loan fund to 10 billion naira, according Abubakar Bichi, chairman of an appropriations committee in the House of Representatives.

The lawmakers approved 1.5 billion-naira proposed to purchase SUVs for the office of First Lady Oluremi Tinubu — an amount larger than that allocated to many individual federal colleges. The supplementary budget also proposes almost 6 billion naira to purchase SUVs for the presidency — more than the amount initially allocated to fund a student loan program for poor families.


https://www.bloomberg.com/news/articles/2023-11-02/nigeria-budgets-for-suvs-and-yachts-amid-economic-hardship

diabeticdeals:
Terrible? Smh

You or your friend is a pathological liar.
The method of payment was clearly spelt out. But for BVN , none of these defaulters will pay back a dime.

smartemperor042:
This also happened to my friend.

There were no clear cut directives on how to repay the loan.

Moreover, why not split the money in batches?

This is so terrible!!!

There is a procedure for repayment
Mfb distribute the loan and they are in charge of collections
I took the loan too
If someone is paying when due eg 10k per month
GSI will not mount your account

Acidosis:
This is one of the benefits of loans. Take 400k loan in 2020. Pay back 580k in 2025, leaving the creditor with the burden of inflation. You should be grateful that you're paying back only 580k as against #2m (if we account for inflation).

You are amongst the few commenter with a valid sense of reasoning.

Nothing suprises me, he a facebook user, those family nobget sense at all.

Emeskhalifa:
Those ones wey use their own buy IPhone, wahala dey be that o

They were stupidly smart. iPhone as increased in value than before, I bet they will sell now for almost same price they bought it.

Somebody should let him know that 580k was debited because there wasn't any balance left in his account.

They will surely come back once his account is funded

Sharpsharp00123:
So this guy wasn't expecting them to collect interest right?

These people have been so grounded in their insensitivity that he took a loan n never bothered to pay and when the money was debited all he has to say is "may Nigeria never happen to u"

So can this guy try this in saner climes?

I don't even blame him, check d name n see where he is from first

They blame Nigeria for everything n play victim even when they are wrong

It is not about interest self, the people who connect my guy collected about 200k when he got his.
Plus many of them flex the money, even we that the convid-19 made to loss self didn't get anything.

You paid back more than the loan you took because you’re expected to pay the principal amount plus interest.

Connoisseur:
Somebody should let him know that 580k was debited because there wasn't any balance left in his account.

They will surely come back once his account is funded

Makes sense

Loan is not a grant !! He needs to stay sharp ..🤔