₦airaland Forum

Adesiji77:
Don't conclude so fast...if banks have to publish the names of all their chronic debtors, newspapers would not be able to publish any news/article for that day or even days. There are so many smaller debtors in our banks ranging from salary account holders to different shades of SMEs.

What happened is this: most banks benchmarked their list to say "from N50m and above", "N20m and above", and so on. Besides, CBN has compelled them to publish list of delinquent loans on a quarterly basis. Cc: manie

@Adesiji77
With the clarification you just made, I guess things are even bloodier than I had imagined across the sector!
Little wonder, the banks are frequenty needing and approaching the markets for more capital.

Welder:
Onasanya is not going in 2016, he is going soon. Infact a new GMD will take over before the end of this year.

The next AGM is in 2016, so he will not be on the board when the next shareholders' meeting takes place.

manie:
I needed a loan of about N1million to be repaid in 100 days, I have a good security but my loan was not approved as at when due only for them to call me today when I have succeeded in getting fund elsewhere.

I guess my account officer read my comments about FBN on Nairaland and www.stockmarketnigeria.com,.

manie:
FBN under the management of Onasanya and his cohorts is nothing to write home about, how can they give a loan of $400 million to an organisation and the loan is not performing, whereas average customers who need loans of N5 million and below are unable to get their loans approved.

I learnt FBN exposure to the Oil and Gas sector runs into Trillions of Naira. The management and board of the company needs to be investigated by EFCC.

make dem come de monitor 80 projects of how much profit from dreamer entrepreneurs when they have tried and tested loanees (at least they thought they were)

oil and gas na sure banker

manie:
They are the major financier in the Oil and Gas sector, their loan exposure to that sector is over N1 Trillion, how can a proactive management be concentrated to a sector.

They will not finance manufacturing, agriculture, infrastructure, affordable real estate, small businesses etc. Instead of giving a loan of $400million to a company, it makes sense and it is a good risk management policy to give such a huge to loan to 10,000 promising small businesses at an average of N8million loan per business

profit maximisation
minimum effort maximum profit
they don't care about ppl that don't care about themselves

manie:
FBN will definitely get out of this, but the top management and directors of the company needs to be shown the way out of the company. We the shareholders cannot allow insiders to ruin our investment in this great company.

Hahahahahaha, you which shareholders. you make me laugh.

1.2 milliom shareholders
1.2 million of una do not control up to 30% of voting power

mikolo80:
make dem come de monitor 80 projects of how much profit from dreamer entrepreneurs when they have tried and tested loanees (at least they thought they were)

oil and gas na sure banker

I am not telling them to give loans of N8 million to young enterpreneurs, but to established and promising small businesses. A small business that has a business relationship with a bank for a minimum of 2 years and has sufficient collateral to back up the loan application ought to have such loans granted.

mikolo80:
Hahahahahaha, you which shareholders. you make me laugh.

1.2 milliom shareholders
1.2 million of una do not control up to 30% of voting power

The institutional investors, foreign investors, pension fund administrators and retail investors surely have more than 60% shares and the class of invstors are not happy with how insiders are ruining the company.

Why do you think Onasanya is leaving in December? His retirement in December is to create a soft landing for him. UBA of all banks even did better than FBN.

manie:
The institutional investors, foreign investors, pension fund administrators and retail investors surely have more than 60% shares and the class of invstors are not happy with how insiders are ruining the company.

Why do you think Onasanya is leaving in December? His retirement in December is to create a soft landing for him. UBA of all banks even did better than FBN.

and who are these 'mysterious' institutional investors. e pass fellow banks, insurance companies, even the oil moguls join. guy all na scam.as far as I am concine those 20something % need to mobilise themselves and invest in the agric and the manufacturing and services and forget about investing in banks.and they control the other 80%

manie:
I am not telling them to give loans of N8 million to young enterpreneurs, but to established and promising small businesses. A small business that has a business relationship with a bank for a minimum of 2 years and has sufficient collateral to back up the loan application ought to have such loans granted.

9 out of 10 businesses fail in five years
(or so they say and that's what the banks run with)

400 million divided by 5 milliom is 80.and I would advise

personally I'd advise these small biz's to hit the stock market up for funding cos banks are creeps all over the world

mikolo80:
and who are these 'mysterious' institutional investors. e pass fellow banks, insurance companies, even the oil moguls join. guy all na scam.as far as I am concine those 20something % need to mobilise themselves and invest in the agric and the manufacturing and services and forget about investing in banks.and they control the other 80%

Shareholders' records are open for you to know the Institutional investors, or come to the next AGM in Abuja. Why is Onasanya retiring, if not for the loss of confidence in his ability to run the bank.

mikolo80:
9 out of 10 businesses fail in five years
(or so they say and that's what the banks run with)

400 million divided by 5 milliom is 80.and I would advise

personally I'd advise these small biz's to hit the stock market up for funding cos banks are creeps all over the world

If 9 out of 10 businesses die within 5 years, why cant they fund businesses who have succeeded in the weathering the storm for more than 5 years. Don't be surprised that some of the companies that were given the mega million loans are actually less than 5 year.

Why give a company without pedigree multi-million dollar loans, but they are not willing to give businesses that have been running for 5 years or more loans of N20 million and below.

mikolo80:
9 out of 10 businesses fail in five years
(or so they say and that's what the banks run with)

400 million divided by 5 milliom is 80.and I would advise

personally I'd advise these small biz's to hit the stock market up for funding cos banks are creeps all over the world

You can finance your business through equity or debt, if you are familiar with the requirements for the listing of your shares in the stock exchange you will realise that it is easier to get a loan from the bank than to meet the rigorous listing requirements of the Nigeria Stock. Exchange.

Nigerian Stock Exchange is not for SMEs, maybe Private Equity companies that invest in them provided they can easily exit as at when due.

Note that businesses with assets of N20million to about N1billion are classified under Small and Medium Scale enterprises, while those below N20 million can be classified under micro businesses.

mikolo80:
and who are these 'mysterious' institutional investors. e pass fellow banks, insurance companies, even the oil moguls join. guy all na scam.as far as I am concine those 20something % need to mobilise themselves and invest in the agric and the manufacturing and services and forget about investing in banks.and they control the other 80%

Who told you that they do not have investments in agriculture, manufacturing, Phamaceutical, foods and beverages, real estates, money markets etc.

manie:
Who told you that do not have investments in agriculture, manufacturing, Phamaceutical, foods and beverages, real estates, money markets etc.

Huh?

manie:
You can finance your business through equity or debt, if you are familiar with the requirements for the listing of your shares in the stock exchange you will realise that it is easier to get a loan from the bank than to meet the rigorous listing requirements of the Nigeria Stock. Exchange.

Nigerian Stock Exchange is not for SMEs, maybe Private Equity companies that invest in them provided they can easily exit as at when due.

Note that businesses with assets of N20million to about N1billion are classified under Small and Medium Scale enterprises, while those below N20 million can be classified under micro businesses.

I am very sure you don't even know the requirements. ignorance na bad thing o

manie:
If 9 out of 10 businesses die within 5 years, why cant they fund businesses who have succeeded in the weathering the storm for more than 5 years. Don't be surprised that some of the companies that were given the mega million loans are actually less than 5 year.

Why give a company without pedigree multi-million dollar loans, but they are not willing to give businesses that have been running for 5 years or more loans of N20 million and below.

those that survived don't need or want loans again

mikolo80:
I am very sure you don't even know the requirements. ignorance na bad thing o

Please educate me, I want to drink from your fountain of knowledge. I know you are an Investment Banker who have suceeded in packaging the listing of SMEs on the Nigerian Stock Exchange.

manie:
Shareholders' records are open for you to know the Institutional investors, or come to the next AGM in Abuja. Why is Onasanya retiring, if not for the loss of confidence in his ability to run the bank.

so because of 2 k dividend 1 milliom ppl will pay 15 k to come to Abuja. you NY friend have a beautiful mind

mikolo80:
those that survived don't need or want loans again

Tell me something, Dangote has survived 30 years and surely he does not need funding again according to you.

manie:
You can finance your business through equity or debt, if you are familiar with the requirements for the listing of your shares in the stock exchange you will realise that it is easier to get a loan from the bank than to meet the rigorous listing requirements of the Nigeria Stock. Exchange.

Nigerian Stock Exchange is not for SMEs, maybe Private Equity companies that invest in them provided they can easily exit as at when due.

Note that businesses with assets of N20million to about N1billion are classified under Small and Medium Scale enterprises, while those below N20 million can be classified under micro businesses.

stop lying. 500 K to 5m is small business classification so micro would be 50 K and below

mikolo80:
so because of 2 k dividend 1 milliom ppl will pay 15 k to come to Abuja. you NY friend have a beautiful mind

I am sorry, I though you are one of us who attends AGM. By having a long term focus and investing regularly your 2k dividends can tur to 200k or more in a matter of years.

mikolo80:
stop lying. 500 K to 5m is small business classification so micro would be 50 K and below

I have heard so, who will approve funding for a N5million business on the Nigerian Stock Exchange.

mikolo80:
stop lying. 500 K to 5m is small business classification so micro would be 50 K and below

Ignorance is very bad.



https://en.wikipedia.org/wiki/Small_and_medium_enterprises


Check CBN or NASME website


The Central Bank of Nigeria defines small and medium enterprises in Nigeria according to asset base and number of staff employed. The criteria are an asset base between N5 million and N500 million, and a staff strength between 10 and 100 employees

manie:
Ignorance is very bad.



https://en.wikipedia.org/wiki/Small_and_medium_enterprises


Check CBN or NASME website


The Central Bank of Nigeria defines small and medium enterprises in Nigeria according to asset base and number of staff employed. The criteria are an asset base between N5 million and N500 million, and a staff strength between 10 and 100 employees

The classification of SME as businesses with assets of N5million to N500million by CBN and NASME was made when the Naira was exchanging to the dollar at less than N100.

manie:
I am sorry, I though you are one of us who attends AGM. By having a long term focus and investing regularly your 2k dividends can tur to 200k or more in a matter of years.

how many years? I dare you to answer that question. (you won't cos you're lazy mentally)

manie:
I have heard so, who will approve funding for a N5million business on the Nigerian Stock Exchange.

o my lord. you don't even know q how sick exchange works yet you're arguing like say aruma oteh na your sugar mummy

it is the potential shareholders that will 'approve'so long as it's less than 300m. you better start using your net access to read more than u talk

manie:
Ignorance is very bad.



https://en.wikipedia.org/wiki/Small_and_medium_enterprises


Check CBN or NASME website


The Central Bank of Nigeria defines small and medium enterprises in Nigeria according to asset base and number of staff employed. The criteria are an asset base between N5 million and N500 million, and a staff strength between 10 and 100 employees

she you know that this is how ppl fail waec. just writing lots of words without passing boy information. where does the small and medium start 5 or 500 m

manie:
Who told you that they do not have investments in agriculture, manufacturing, Phamaceutical, foods and beverages, real estates, money markets etc.

who has investments, bank or institutional investors

manie:
Please educate me, I want to drink from your fountain of knowledge. I know you are an Investment Banker who have suceeded in packaging the listing of SMEs on the Nigerian Stock Exchange.

nope Just a fellow Nigerian who has spent last 15 yrs thinking of how to develop our country without waiting for govt.

requirements for second tier market

cac registration
name and addresses of directors (basically your family members and rep of investors)
tax returns for 3 yrs (no be naija)
audited account for 3 yrs (you suppose get Padi wen study accounting)
company valuation(amount you want to raise) less than 300 m

for 3rd tier market however
it's 2 yrs account and tax info
and 200 m limit

I don't think we have serious investment bankers in Nigeria

manie:
Tell me something, Dangote has survived 30 years and surely he does not need funding again according to you.

you suppose understand where I de go na
no be every pesin de read literally na
no be court of law we de na