₦airaland Forum

SamuraiXXX:
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!

Well yes. But that didn't stop Ghana, Venezuela, Zimbabwe snd a host of others.

Countries dont default because they don't want to pay, they default because they can't.

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

the money was in the account and they were supposed to be liquidating it monthly but they didn't do that but rather started deducting in bulk.

When these people were getting this covid loans, none of them shared this information. Most of us only got to know when their accounts were debited since they never intended to pay back. So what do you now want us to do about this?

apelikirk:
the money was in the account and they were supposed to be liquidating it monthly but they didn't do that but rather started deducting in bulk.

They must have been told the modality of the repayment but since they wouldn't take honourable path of paying back on their own, the government then needed to do the needful.

Loan and not a grant, he should be arrested for not paying on time.

apelikirk:
not per annum but the interest rate for the whole sum given. It was 9% but Tinubu increased it. After they deducted 420k from my account, I went to NIRSAL office and I was clarified that I still have a deficit of about 370k or thereabout.

It is 9% per annum.
It was previously 4% but increased to 9% before Tinubu's administration came into office.
You may need to reconfirm the info you are working with.

Nothing is free even in free town

apelikirk:
the money was in the account and they were supposed to be liquidating it monthly but they didn't do that but rather started deducting in bulk.

So you think those guys are f.ools, they know that if they decide to deduct the money piecemeal most Nigerians who took the Covid-19 loan will go and clear all the money in their bank accounts after the first installment is deducted

SamuraiXXX:
So you think those guys are f.ools, they know that if they decide to deduct the money piecemeal most Nigerians who took the Covid-19 loan will go and clear all the money in their bank accounts after the first installment is deducted

you think maybe it is my first time of collecting loans?