₦airaland Forum

omenka:
What Gringori is implying here is that, IF he, for instance, becomes the president of Biafra and his government approaches a lender with a demand of, say, £10000, and the lender approves and pays the money into the governments account, the government hasn't taken a loan of £10000 until they spend £10000!!

YET, someone sits somewhere and tell me this man is "intelligent" and remains the saviour Nigeria desires!

Good grief. 😪

The finance he explained is beyond your mental capacity
You'll never understand it

causewahala:
You seem not to know those pipu. . . wayo full their head.

Where I work, they used to over budget, at the end of the project, they will now return millions to the company as cost saved. The whites discovered this and instituted a rule that further occurrence will be deemed as incompetent project costing, na so the thing die down, if you know how many of them got promotions through this fraudulent act ehn, fear go catch you?

You people are ignorant sha. It is an overdraft facility. You can only pay interest based on what you draw down. If he didn't draw down he doesn't owe anything

zoghys:
Is this guy for real?. Is he aware of debt servicing and interest payable on borrowed money. Sincerely am disappointed OBI is saying this to the whole world and at this critical period in his campaign.

Do you know what an overdraft is? If you draw down on it, you will pay interest, but if there was no draw down you don't owe anything.

Kdon2:
This obi is a con man. But Nigerians done wake up this time around. E go shock him😜

. You are advertising your ignorance.

Parachoko:
Don't let Peter Obi fool You

The FG can't force a loan on a State

If a State no apply, the state won't get a kobo from the money

FG can't get a loan and send it to all the 36 States. Each State will apply to get the funds

Obi applied to get the fund, thats why the FG sent it to the Anambra State Government

Did you go to school at all?...Go and educate yourself on how World Bank loan works before yapping nonsense...

Irony1:
Do you know what an overdraft is? If you draw down on it, you will pay interest, but if there was no draw down you don't owe anything.

Overdraft allows you to make more withdrawals than what you have in your account while a bank loan is an agreed amount payable into your account from your bank or lender. Please show that you understand the matter been discussed before making any aimless comment.

This is why one should not take advice from a madman.

VanuatuWycombe:
Ogbeni, gb’enu dake. Very illogical and irrelevant rêãsön!ng here.

Who told you this is a case of overdraft? Does Anambra State bank with international lenders or FG that borrowed it money for ecological and health reasons?

Does DMO record bank overdraft as debt?

How does that borrowing amount to overdraft?

Kpele o, £1,000 overdraft UK man.

Odoyo, we have to constantly do these basic analogies maybe you data boys can get sense

tishbite41:
The finance he explained is beyond your mental capacity
You'll never understand it

Ok oh.

Giringori voodoo economics

The more you see , the less you see.

Irony1:
Do you know what an overdraft is? If you draw down on it, you will pay interest, but if there was no draw down you don't owe anything.

Overdraft because Anambra open current account with World Bank abi

Una go explain tire

Mrexcell:
Obi is actually technically correct.

After denying that he took loans, he’s now saying he didn’t spend it.

Just say he’s technically lying.

Bank will charge you interest whether you like it or not. This is what soludo has been saying

You mean you borrowed money only to be left without using it for the purpose of borrowing it, and then pay interests on it?

This is the most f00lish presidential candidate in the history of this country.

ogolemati:
you would have been happy he shared the money to touts

the ones he’s sharing money to here are what?

mycar:
You ended up typing nothing, like you said, I tried but it was quite beyond your comprehension. since you ended up saying nothing. I actually don't have time to respond to "nothing"

That means you have nothing up there that would have helped you comprehend. Like master, like boy!

dheilaw1:
the ones he’s sharing money to here are what?

you are an old member, your level supposed they incharge of like 4 busstops tuale sir .the agbero chairman una union smuggled into aso rock has wrecked the economy

But you are the very ignorant one here. It shows you and your ilk are only interested in scoring cheap political point. You did not read or choose to ignore the fact behind the funds by world Bank.
Let me share it you. The World Bank and your FG selected some states for some developmental needs and funding which Anambra State was one. Unless you are saying he should attract development to his state.
But the argument is that he didn't draw on the loan till he left because his time was up.

FSBoperator:
Overdraft because Anambra open current account with World Bank abi

Una go explain tire

BATified2023:
so if I borrow 5 million naira from u n I didn't spend it for 10 years

That means I am not oweing u n u have no right to tell anyone I took money from u.

That's what obi is implying.


I know for sure if this exact scenerio happens to u in real life the person go collect but here u are supporting it cos u want your brother as president so anything he says u must defend it

It's sickening bro

I keep telling your likes that you all should go back to school and learn economics because you all sound very shallow.

There's a different between an normal conventional loan and a financial overdraft. Normal loans as you referred here will count as debt whether or not the borrower uses the funds or not, but in overdraft —which is what Obi is referring to here because that's how States or multinational institutions operate, you're not liable to pay for anything if you haven't drawn down the funds, and you're only liable to pay interest on the amounts of funds you've drawn down, the current finance minister Oyedele explained this in a press conference sometime ago and your likes were hailing him, apparently you were hailing what you didn't even understand... Which is very sad.

Let me water it down to the level you can comprehend what's going on.

Assuming you have a Palmpay account and you log into the app and go to the loan section, the amount that you see that you're entitled to borrow from Palmpay is an overdraft that has been approved for o your account, Palmpay will not charge you interest if you didn't draw down the funds into your Palmpay account. That money will be there accruing no interest until you draw it down to your account and you will only pay interest on the amount you took.

Do you understand or I should water it a little bit more?

Geometrix:
But you are the very ignorant one here. It shows you and your ilk are only interested in scoring cheap political point. You did not read or choose to ignore the fact behind the funds by world Bank.
Let me share it you. The World Bank and your FG selected some states for some developmental needs and funding which Anambra State was one. Unless you are saying he should attract development to his state.
But the argument is that he didn't draw on the loan till he left because his time was up.

Shatap.

The World Bank offered Nigeria loan assistance for certain projects to be executed by the state govt .

The FG wrote to all states to apply for said loans if they are interested.

Anambra under your obi applied for said World Bank facility and was granted same facility.

The money landed directly into Anambra bank accounts and the only thing the FG was expected to do from then on is ensure deductions are made from FAAC allocations to states that keyed into the World Bank facility to be deducted and paid back .

You guys think you can spin something as obvious as a loan guarantee by the FG for a loan taken by states from the World bank

You can lie to yourselves all you like but it won't change the fact that your obi is a pathological liar .

wonlasewonimi:
Odoyo, we have to constantly do these basic analogies maybe you data boys can get sense

Dhàftt Obidients’ analogies.

Go and and put diapers for old man you are assigned to. Sebi that’s the where you make £400, after all charges and taxes.

Parachoko:
So shey The Agulu Fraud collect a loan of 500 Million or not?

And he left hundreds of billion or not?

FSBoperator:
Overdraft because Anambra open current account with World Bank abi

Una go explain tire

Oga stop uttering rubbish. WB gives a credit line and if you haven't made a draw down, it doesn't reflect on you.

Irony1:
Oga stop uttering rubbish. WB gives a credit line and if you haven't made a draw down, it doesn't reflect on you.

See this trader .

omenka:
What Gringori is implying here is that, IF he, for instance, becomes the president of Biafra and his government approaches a lender with a demand of, say, £10000, and the lender approves and pays the money into the governments account, the government hasn't taken a loan of £10000 until they spend £10000!!

YET, someone sits somewhere and tell me this man is "intelligent" and remains the saviour Nigeria desires!

Good grief. 😪

Peter Ounwuabasi Gregory Obi is a fraud! Fraudster!! Lies so frequently he has lost the ability to distinguish between a lie and the truth. When he speaks a lie he is himself properly so called! Peter Obi shares the same respiratory organ with the devil. Peter Obi and the devil the father of lies are siamese twins.

blackmantis:
I borrowed money on palmpay, I have not yet spent it oh. But they have started calling to remind me to pay back my debt.

I think I can relate.

Ofcourse, if you haven't spent it, just return what you borrowed without a day further. Thats not debt...

VanuatuWycombe:
Pele o Teller Officer at Fidelity Bank, Onitsha Main Market Branch 1. TOD is what you feel is to educate your people. TOD ko, TOLD ni.

Overdraft CAN last up to 12 months but it lasted for 8 years in Obi’s government and the monthly interest is being paid till today. Obi that had money saved every month was still taking overdraft.

Show us the document that says the money borrowed is overdraft, Mr. Assumer General of Obi. Sebi Obi released some banking documents a few days ago. Highlight where any of those termed investments equate overdraft.

Na your follow-follow Obidients you educated. I am hundreds of years ahead of you in finance and anything.
And if you doubt it, display your cv here and I will display mine here and certificates.

Stop wrapping a rotten gift for us. We don’t want Obi.

I have no further reply to you

Except interest only accrue on the money he drew, then I can agree with his position.

Else, it is hard for me to swallow.

Parachoko:
According to the Fraud, Just because you have not spent from the loan in your account, then it's not a loan and Palmpay dont have the right to ask for it when it's time for you to start paying

Do you know the meaning of drawdown?

When certain high-value loans are approved, the lender does not release all the funds to the borrower at once. There is often a progressive drawdown per loan agreement. This means that a ₦10m loan may have for instance 5 drawdowns of ₦2m each over a specified duration, for instance, 10 years.

If for instance, you have a loan of ₦10m APPROVED for you, but has only had ₦2m released to you as at today, you are only in debt of ₦2m + any fees, and not the approved ₦10m, because you can wake up tomorrow and decide to terminate the loan.

Capiche?

tranxo:
Do you know the meaning of drawdown?

When certain high-value loans are approved, the lender does not release all the funds to the borrower at once. There is often a progressive drawdown per loan agreement. This means that a ₦10m loan may have for instance 5 drawdowns of ₦2m each over a specified duration, for instance, 10 years.

If for instance, you have a loan of ₦10m APPROVED for you, but has only had ₦2m released to you as at today, you are only in debt of ₦2m + any fees, and not the approved ₦10m, because you can wake up tomorrow and decide to terminate the loan.

Capiche?

What's the correlation between my comment and yours?


So is the #2 million that was sent a loan or not?

KingOfAmebo:
Did you go to school at all?...Go and educate yourself on how World Bank loan works before yapping nonsense...

You wey go school should Educate me nah

What's wrong exactly?

Did Obi get a loan or not Chukwuma?

Parachoko:
What's the correlation between my comment and yours?


So is the #2 million that was sent a loan or not?

Was anyone arguing it wasn't a loan?

Do you ever know what the "loan" debate was all about or you are just bent on trying to say that Obi actually had a debt?

WHO SOURCED these loans?
What were the total APPROVED amounts of these loans?
What were the TENURES for these loans?
What were the DRAWDOWN arrangements?
WHAT AMOUNT was actually drawn down during Obi's tenure?

If you can wrap your head around these questions, then you may be able to understand the loan debate better.

Stop that one tract mindset. What's being discussed is bigger than you can comprehend.

But try sha. Miracles still happen.

tranxo:
Was anyone arguing it wasn't a loan?

Do you ever know what the "loan" debate was all about or you are just bent on trying to say that Obi actually had a debt?

.

So what's your point gan gan because my point is that The Fraud took a loan from the FG