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Peter Obi, a presidential aspirant on the platform of the Nigeria Democratic Congress, has contrasted the lending practices of British banks with what he described as Nigeria’s collateral-dependent banking system.

Obi made the remarks on Friday during the Spier Dialogue 2026 in Cape Town, South Africa, where he addressed members of the Nigerian community before his scheduled appearance at the pan-African governance forum. I lived in the UK, my brother. I did business in the UK. Very successful business. I went to the bank. I told them the schools I was from, Cambridge and Oxford, and they gave me money.

They didn’t ask me about my parents. They gave me this loan based on my intellectual capital, and I paid them back,” he said. Obi added that the same opportunity would not have been available to him in Nigeria. In my country, I wouldn’t get that type of loan. They would have asked me to go and bring my dead mother and father, their properties and all of that,” he said.

He used the remarks to restate his broader argument about governance, drawing a distinction between leaders focused on transactions and those committed to building functional institutions. People always believe that every politician is the same because they believe governance is all about transactions. What we want is people that will make the society work,” he said.

In a post on X announcing his arrival in South Africa, Obi described the forum as “an important event centred on the future of Africa and the urgent challenges facing our continent and the globe,” covering governance, democracy, economic inclusion, and leadership.

In a post on X announcing his arrival in South Africa on Friday, Obi described the Spier Dialogue as “an important event centred on the future of Africa and the urgent challenges facing our continent and the globe. He said the forum addressed issues including governance, democracy, economic inclusion, urbanisation, migration, and leadership.

Africa’s future should not be characterised by poverty amid abundance or by division instead of development. It is time for us to transition from consumption to production, from divisive politics to politics built on competence and compassion, and from mere promises to tangible progress that serves everyday citizens,” he wrote.

https://punchng.com/uk-banks-gave-me-loans-based-on-educational-background-not-collateral-obi/I'm

Let him continue to disgrace himself with his shameless lies.

So it is your dubious third class that they judged you being an intellectual and then gave you a loan without any collateral.

Which bank in the world over gives out loans without collateral ?

My love for this man keeps growing by the second
His consistency and down to earth demeanor is incontrovertible.
Even his ardent haters cannot point out any flaws except for concocting stories about this man.

FSBoperator:
Tell him to show you the bank in the UK that gave him a collateral free loan after seeing his third class worthless degree.

One of his ardent haters just proved me right
Go and verify

Obi is/was a board director in a Nigerian bank...


How many such loans did his bank give out on these conditions?


What did fidelity bank do differently from other Nigerian banks?

ratcock:
My love for this man keeps growing by the second
His consistency and down to earth demeanor is incontrovertible.
Even his ardent haters cannot point out any flaws except for concocting stories about this man.

Tell him to show you the bank in the UK that gave him a collateral free loan after seeing his third class worthless degree.

brain54:
Obi is/was a board director in a Nigerian bank...


How many such loans did his bank give out on these conditions?


What did fidelity bank do differently from other Nigerian banks?

Obi was once a ceremonial chairman of Fidelity bank.
At no point in time was he the MD.
Secondary Nigerian banking system is regulated by the apex bank the CBN.
As a result, the banks cannot act outside the dictates of the CBN.
Your question should be directed to the CBN.

FSBoperator:
Let him continue to disgrace himself with his shameless lies.

So it is your dubious third class that they judged you being an intellectual and then gave you a loan without any collateral.

Which bank in the world over gives out loans without collateral ?

Banks in other climes do give loans to individuals...

Without collateral if you pitch your business ideas with them and they think the idea is sellable and buy into it.


Even in Africa countries like Ghana banks are almost begging people to take loans.


So obi is right on that part.



It's Nigeria that everything becomes difficult and different. And such normal things in other places becomes an aberation and I don't know why!

brain54:
Obi is/was a board director in a Nigerian bank...


How many such loans did his bank give out on these conditions?


What did fidelity bank do differently from other Nigerian banks?

Air peace is what it is today because of fidelity bank


When it comes to business support fidelity is top

But hey hope u know CBN sets interest rate not banks

Yorubaskullmine:
Obi was once a ceremonial chairman of Fidelity bank.
At no point in time was he the MD.
Secondary Nigerian banking system is regulated by the apex bank the CBN.
As a result, the banks cannot act outside the dictates of the CBN.
Your question should be directed to the CBN.

Cbn can determine the interest on loans etc...



But cbn can not give the banks specific conditions to give out loans. That's the bank's risk to take. Not cbn!

Yorubaskullmine:
Obi was once a ceremonial chairman of Fidelity bank.
At no point in time was he the MD.
Secondary Nigerian banking system is regulated by the apex bank the CBN.
As a result, the banks cannot act outside the dictates of the CBN.
Your question should be directed to the CBN.

Which bank gives loans without collateral?

mrvitalis:
Air peace is what it is today because of fidelity bank


When it comes to business support fidelity is top

But hey hope u know CBN sets interest rate not banks

Sure. Interest rates is different from specific conditions like collateral...

mrvitalis:
Air peace is what it is today because of fidelity bank


When it comes to business support fidelity is top

But hey hope u know CBN sets interest rate not banks

Air Peace that was rumoured to have been floated using diverted funds meant for Niger Delta militants amnesty program during GEJ's tenure ?

brain54:
Sure. Interest rates is different from specific conditions like collateral...

You mind them.

The issue Giringori should have harped on was the high interest rates and not some phantom zero collateral backed loans

brain54:
Banks in other climes do give loans to individuals...

Without collateral if you pitch your business ideas with them and they think the idea is sellable and buy into it.


Even in Africa countries like Ghana banks are almost begging people to take loans.


So obi is right on that part.



It's Nigeria that everything becomes difficult and different. And such normal things in other places becomes an aberation and I don't know why!

Big fat lie.

You are talking about venture capitalists .

Banks operate on a risk management level with the loan insured in the case of the loan failing .

Current system is AI driven and not down to whatever rubbish your Agulu Messiah is dishing out lambas

mrvitalis:
Air peace is what it is today because of fidelity bank


When it comes to business support fidelity is top

But hey hope u know CBN sets interest rate not banks

I don't know how air peace was set up...


Or how it benefited from fidelity bank. But you mentioned only one business out of thousands out there.


Nigerian banks are generally known not to give loans. Even with collateral you would still struggle to get loans. With exceptions of high end politicians and contractors ofcourse.


Small scale business and ideas- who are those really in need of such loans for start ups are left to their fate. Sometimes even with collateral!

FSBoperator:
Air Peace was floated using diverted funds meant for Niger Delta militants amnesty program during GEJ's tenure

Hope you have a solid prove to this nonsense you stated? Hope you are present when the funds where being diverted and how much exactly was being diverted by whom?

You guys will just open mouth and be talking nonsense. If they pick you up now you will be calling your ancestors.

FSBoperator:
Big fat lie.

You are talking about venture capitalists .

Banks operate on a risk management level with the loan insured in the case of the loan failing .

Current system is AI driven and not down to whatever rubbish your Agulu Messiah is dishing out lambas

Venture capitalists are different...


Banks in other climes do give loans without collateral... every bank accesses the level of risk involved before giving out loans based on these risks involved.


More than 60/70% of business running where I am currently operate with money from bank loans with hardly any collateral.


They only look at your financial books, see what you can generate or your revenue and give you loans based on that record- without collateral

What the banks are interested in is your ability to pay back the loans and not your collateral. Collaterals are only used in extreme cases especially with more risk prone businesses.


Like I said it's only in Nigeria that everything is different and difficult.


I can even access loan facilities here as a foreigner if I want. These are basic things people in other countries enjoy that are far from the reach of average Nigerians!

brain54:
Venture capitalists are different...


Banks in other climes do give loans without collateral... every bank accesses the level of risk involved before giving out loans based on these risks involved.


More than 60/70% of business running where I am currently operate with money from bank loans with hardly any collateral.


They only look at your financial books, see what you can generate or your revenue and give you loans based on that record- without collateral!

Every loan is insured by the banks with an insurance firm.

The insurance company are the final debt liquidators if the loan fails and will be the ones to go after the assets of the debtor.

Banks do not care on what kind of business you are into.

All they want to know is if you can repay the loan granted under the terms stated and what guarantees by way of collateral do you have to present in case you can't repay the debt.

Venture capitalists are the guys you meet if you are looking for who to invest and partner with you.

Banks are only interested in earnings on interests accrued on their loans and their capital back .

brain54:
They only look at your financial books, see what you can generate or your revenue and give you loans based on that record- without collateral!

And you think this how banks operate?

70-80% of new businesses fail.

No bank is going to partner with you without having assets on ground.

You might think because you are not required to brink documents of your property as collateral, but the banks will use debt recovery firms to squeeze out every asset you have through a legal backed foreclosure on your entire assets.

The only way to save yourself from this is to file for bankruptcy which most American businessmen have done .

brain54:
I don't know how air peace was set up...


Or how it benefited from fidelity bank. But you mentioned only one business out of thousands out there.


Nigerian banks are generally known not to give loans. Even with collateral you would still struggle to get loans. With exceptions of high end politicians and contractors ofcourse.


Small scale business and ideas- who are those really in need of such loans for start ups are left to their fate. Sometimes even with collateral!

If you don't know how they helped popular air peace how would you know the rest

If you don't have fact about something then don't talk about it it's better to just shut up

We have free Ai tools, we have google free too.. Before you talk on a topic u know nothing out research

FSBoperator:
And you think this how banks operate?

70-80% of new businesses fail.

No bank is going to partner with you without having assets on ground.

You might think because you are not required to brink documents of your property as collateral, but the banks will use debt recovery firms to squeeze out every asset you have through a legal backed foreclosure on your entire assets.

The only way to save yourself from this is to file for bankruptcy which most American businessmen have done .

Oga you are just arguing back and forth...


Even bringing unnecessary details into the matter. Did anyone say the banks just give loans without knowing the risks involved or no debt recovery system in place?

Is debt recovery the same as collateral before giving out the loans? Or you don't know what collateral means?

mrvitalis:
If you don't know how they helped popular air peace how would you know the rest

If you don't have fact about something then don't talk about it it's better to just shut up

We have free Ai tools, we have google free too.. Before you talk on a topic u know nothing out research

Continue making unsubstantiated claims ...


And presenting them as facts. I don't base my arguments based on beer parlor talks. Which is why I clearly told you I wasn't informed on the specific matter.


The crust of what I said you didn't address but shutting down the entire argument. How many businesses have fidelity bank given loans to apart from airpeace if it is true they received loan and not beer parlor talk?


That's the core of my argument!

It's good you didn't mention any bank lest they come out to debunk the claim

brain54:
Is debt recovery the same as collateral before giving out the loans? Or you don't know what collateral means?

Debt recovery involves going after assets of the debtor if he fails to honour his loan obligations..

Is that not what collateral serves in a loan agreement ?

Trying to reason with you obidients is an exercise in futility.

Banks loan to only people with good credit and assets to match the loan being offered.

Did Obi say he attended Cambridge and Oxford or na blogger add that

FSBoperator:
Debt recovery involves going after assets of the debtor if he fails to honour his loan obligations..

Is that not what collateral serves in a loan agreement ?

Trying to reason with you obidients is an exercise in futility.

Banks loan to only people with good credit and assets to match the loan being offered.

Collateral is bring something of value before I even consider your idea and give you loan...


I may not even care how you intend to pay back... just give me anything that is worth the value of the loan I am giving you 3 times over.

Not everyone has valuable collateral even when they are into business. Just what they have the potential to generate.


When they are educating some of you you would be going around and round in circles arguing for the sake of argument. What concerns obidients now with what I have been saying?


Is good credits and assets the same thing as collateral? And you think you are not the one arguing in exercise in futility and wasting my time?

brain54:
Collateral is bring something of value before I even consider your idea and give you loan...


I may not even care how to pay back... just give me anything that is worth the value of the loan I am giving you 3 times over.

Not everyone has valuable collateral even when they are into business. Just what they have the potential to generate.


When they are educating some of you you would be going around and round in circles arguing for the sake of argument. What concerns obidients now with what I have been saying?


Is good credits and assets the same thing as collateral? And you think you are not the one arguing in exercise in futility and wasting my time?

Trump was convicted in a NY Federal circuit court for inflating his assets so as to secure financial loans from several banks

You present your net worth to banks when processing a loan.

The bank assesses your risk level based on past loan repayments (credit score) and marches it with your stated assets.

The system in the US is different from dropping documents of properties and in the event the loan fails the bank will notify the insurance company who will begin the recovery process..

The only way an individual can wriggle free is to declare bankruptcy which prevents the recovery company from touching your assets for the next five years. During this period, you won't have access to loans.

If the recovery company sees you declared assets are far lower than what you declared, they will charge you to court for fraud.

There is no where in the world a bank will loan to you without anything on ground to recover their debt.

FSBoperator:
Trump was convicted in a NY Federal circuit court for inflating his assets so as to secure financial loans from several banks

You present your net worth to banks when processing a loan.

The bank assesses your risk level based on past loan repayments (credit score) and marches it with your stated assets.

The system in the US is different from dropping documents of properties and in the event the loan fails the bank will notify the insurance company who will begin the recovery process..

The only way an individual can wriggle free is to declare bankruptcy which prevents the recovery company from touching your assets for the next five years. During this period, you won't have access to loans.

If the recovery company sees you declared assets are far lower than what you declared, they will charge you to court for fraud.

There is no where in the world a bank will loan to you without anything on ground to recover their debt.

Thanks for adding another useless information...


Bye!

brain54:
Thanks for adding another useless information...


Bye!

Pls show us one case banks loan without collateral?

So why is your Fidelity bank not giving customers loans based on their educational backgrounds only? Peter Obi and lies are Siamese twins.

Name the UK banks