₦airaland Forum

COZA:
400k in 2020 is worth 1.6m now… be grateful that they took just 580k

This is batch one amortization of the loan.
Subsequent batches are coming.
They are monitoring the account.

How can you take a loan without thinking of repaying it?
The worst thing is that most of these people do not take loan to fund investments.
They take loan to fund entertainment.
If you actually takes loan to fund investments, you will try to repay it so that another can be granted to you.

Nwanem do you collect loan or not? If yes then what do you mean by "pray Nigeria never happen to you"?

When you are collecting the loan were you not smilling? Then pls pay back and should they over-debited you go to their office and do the minus-plus then balance them than seeking unecessary noise on social media for those who can't reason independently called obidient to started insulting Tinubu ba?

Go pay your loan.

ZUBY77:
Were you expecting them to take less than the loan instead?
It is such people that puts VDM in trouble

How comes VDM here again?

Enemy of truth...

NothingDoMe:
Nigerians don't like to pay back their loans. Even the federal government has been begging foreign nations for debt cancellation.

But yet the Federal Government has never defaulted on a bond: NGN or USD.

What do you think a bond is if not borrowing.

May Nigerian commentators never happen to you.

datola:
They debited you N580k on N400k since years back The loan is almost interest free self.

Nigerians and mindset about loan

Very cheap loan, 12% interest rate if there was no devaluation of the naira.

But with Tinubuconomics, the interest rate is actually negative 16%.

They will still take more, see the acc balance - they just cleared it.

datola:
They debited you N580k on N400k since years back The loan is almost interest free self.

Nigerians and mindset about loan

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?

[s]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[/s]

you are more of a problem in Nigeria than him. You turn everything to tribalism, insulting a tribe unnecessarily

You should thank your God that it was not taken by scammers. Loan of 5yrs supposed to have generated revenue much more than the premium.

A 400 thousand naira given when desperately needed worth more than a million.

You even get luck say they still remain #237 there

BreconHills:
But yet the Federal Government has never defaulted on a bond: NGN or USD.

What do you think a bond is if not borrowing.

May Nigerian commentators never happen to you.

Since we are in the spirit of prayers, may Nigeria happen to you. 😁

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!!!

Don't mind them. That loan was given to people during the lock down. No known path for repayment. You know Nigerians with jealousy when they missed out on something, you would think that they're being patriotic honest

U mean d Loan dat connected people got?
U were credited 400k, how much did ur connect get?

When he collected this money nobody knows but when it's time for payment everywhere is noisy,,, you are even lucky you have the money to pay back your loan. Some are there making effort to pay back but no way

knowing someone who experienced this, after my research and from what i know as at that time. some so called agents came in and told them it was a grant and took percentage of the money up to. 50 percent and did not tell them it was a loan, so at the end of the day if they got 500k they paid 200k to the agent who decieved them.

The allow am so bulk money worth the amount to enter azza,lol

Did he come online to tell us when he collected the loan? So loan is to come with zero interest

Some people even paid N500k to CBN staffs and more to secure these loans 😭 because they were told the loans were free

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

They're not done. They're waiting for another 300K to enter your account before they strike again

Teymanhenry:
Where in the Loan documents was it mentioned that the whole capital plus interest would be paid at once?
They never sent anyone at repayment form ?

True, they gave me 500k and never sent me repayment plan. I wanted to pay back the whole amount same year 2021 and I sent them mail, but they never responded till date

lol…I dey always thank God say I no collect this money that year

Na loan you take no be borrow you borrow. You must pay interest.
The loan company are even fair to him.

This man doesn't know how the banking system works.

It has nothing to do with "Nigeria".

If you borrow 100k, they will extract their pound of flesh on top.

Psoul:
This is batch one amortization of the loan.
Subsequent batches are coming.
They are monitoring the account.

How can you take a loan without thinking of repaying it?
The worst thing is that most of these people do not take loan to fund investments.
They take loan to fund entertainment.
If you actually takes loan to fund investments, you will try to repay it so that another can be granted to you.

The worst are the ones who take loan to pay tithes.

VillagePipu:
They should have brought masquerade or drums to inform you to pay back.

Nah bro. Every loan company gives you are loan profile with an account to pay to.
This will enable you know when to pay and how much to pay. The profile/schedule should guide you in case you plan to liquidate the facility .I know this very well because I've worked as a loan officer in a financial institution for years.

apelikirk:
the loan interest as at when given was 9% but Tinubu gave the directive to CBN to increase the interest to 18%. The loan given to you was 450k but after taxes and other deductions, it amounted to 400k but on their system it's 450k. I am a victim too. They gave me 750k loan but I was given 710k, now the total sum for me to pay back is about 885k. They deducted 530k from my account without my consent which got me into depression 🫥. Last year they took over 80k from my account while this year they've deducted 420k.

So you were actually expecting them to come ask you for permission before deducting the money you were owing them?!

BreconHills:
But yet the Federal Government has never defaulted on a bond: NGN or USD.

What do you think a bond is if not borrowing.

May Nigerian commentators never happen to you.

Any country that defaults on a bond will be automatically downgraded by all credit rating agencies and will most likely never be able to get fresh loans from international finance organisations!

GetMeRight:
Don't mind them. That loan was given to people during the lock down. No known path for repayment. You know Nigerians with jealousy when they missed out on something, you would think that they're being patriotic honest

E be like say you sef follow collect the loan that's why you dey vex

SamuraiXXX:
E be like say you sef follow collect the loan that's why you dey vex

I no dey vex because I collected loan, I dey because of the holier than thou pretentious comments here. Loans got me where I'm today, I can't joke with loans any day, any time

janeedema:
COVID-19 loan?? Interesting.

Something that is supposed to be a form of relief and grant. International NGOs would be In serious surprise to know this.

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

For period of 5year your loan of 400k got you an interest of 180k and you are complaining. You must be an ungrateful wretch.

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

Of course, those head slammers can be ungrateful for Africa.