fineguy11:
Will forward the report to you soonest!

I believe everyone of us here, need access to that report.

kristien4:
Wow.. I'm stopping over at unity bank first thing tomorrow morning. I hope I can sleep well tonight.. make the bank no go close up before tomorrow morning..��

E b like say u dey among #30BillionGang . I can't stop wondering the value of this your life savings but abeg no go have nightmare o . Ur money no go erase before tomorrow. Lol. Btw, keep that money in an MMF account and sleep well. Biko.

emmanuelewumi:



How much will they realise from the sales of the property, before they start building up their capital and retained earnings. The bank will need a minimum of N350 billion. It is on life support courtesy of CBN, FG and Northern States governments

i cant predict but the have a sky scrapper in kano 24 floors and ever Lga in north

Here is another one from CBN.

CBN restricts withdrawal of foreign currency deposits

What this means: If a bank customer made an electronic transfer of $5,000 into his domiciliary account and later goes to the bank to make a cash deposit of $10,000, making a total of $15,000 in the account. Such customer can only make withdrawals from the account in the manner/medium he used to make the deposits into the domiciliary account.

It means if the bank customer needs to make a payment of $12,000 or initiates a transaction of $12,000, he can only pay $5, 000 through electronic transfer and the reaming $7,000 would have to be paid in cash.

The new CBN directive comes as a surprise to Nigerians as shown in their responses to the tweets on Saturday. Now, Nigerians are left with making cash deposits into beneficiary’s account or instead of taking cash, the beneficiary request for a transfer to be made into such account given is future or current need for the money.

For more....

https://nairametrics.com/2020/02/23/cbn-restricts-withdrawal-of-foreign-currency-deposits/

Ikjosh04:



I believe everyone of us here, need access to that report.

I will share it with everybody,once I have it.

unite4real:
Here is another one from CBN.

CBN restricts withdrawal of foreign currency deposits

What this means: If a bank customer made an electronic transfer of $5,000 into his domiciliary account and later goes to the bank to make a cash deposit of $10,000, making a total of $15,000 in the account. Such customer can only make withdrawals from the account in the manner/medium he used to make the deposits into the domiciliary account.

It means if the bank customer needs to make a payment of $12,000 or initiates a transaction of $12,000, he can only pay $5, 000 through electronic transfer and the reaming $7,000 would have to be paid in cash.

The new CBN directive comes as a surprise to Nigerians as shown in their responses to the tweets on Saturday. Now, Nigerians are left with making cash deposits into beneficiary’s account or instead of taking cash, the beneficiary request for a transfer to be made into such account given is future or current need for the money.

For more....

https://nairametrics.com/2020/02/23/cbn-restricts-withdrawal-of-foreign-currency-deposits/

Na waoh.

seyisanya:
E b like say u dey among #30BillionGang . I can't stop wondering the value of this your life savings but abeg no go have nightmare o . Ur money no go erase before tomorrow. Lol. Btw, keep that money in an MMF account and sleep well. Biko.

Lol.. thanks man. I never join the 30BG yet. Na the small one wey we get we dey try secure. What's the current rate on mmf.

unite4real:
Here is another one from CBN.

CBN restricts withdrawal of foreign currency deposits

What this means: If a bank customer made an electronic transfer of $5,000 into his domiciliary account and later goes to the bank to make a cash deposit of $10,000, making a total of $15,000 in the account. Such customer can only make withdrawals from the account in the manner/medium he used to make the deposits into the domiciliary account.

It means if the bank customer needs to make a payment of $12,000 or initiates a transaction of $12,000, he can only pay $5, 000 through electronic transfer and the reaming $7,000 would have to be paid in cash.

The new CBN directive comes as a surprise to Nigerians as shown in their responses to the tweets on Saturday. Now, Nigerians are left with making cash deposits into beneficiary’s account or instead of taking cash, the beneficiary request for a transfer to be made into such account given is future or current need for the money.

For more....

https://nairametrics.com/2020/02/23/cbn-restricts-withdrawal-of-foreign-currency-deposits/

The storm might indeed be gathering! Turbulent times ahead.

pluto09:



What you have there are not the exact audited reports.

However, I can find some useful information from the review by the rating agency up to 2017( no report for 2018 and 2019)
If what we have there are true reflection of the bank operation performance, I will like to say that lapo is doing well.

You will do well if you can post more of your bank financial reports as this will help many to form an opinion devoid of sentiment and generalization...

Don't get carried away with what ever is been shared as report.The only report I can tell you is that lapo has been closing offices in some states in the last two years living those who opened account in this states stranded.That mfb bank is one chance.

Biafran4life:
Don't get carried away with what ever is been shared as report.The only report I can tell you is that lapo has been closing offices in some states living those who opened account in this states stranded.That mfb bank is one chance.

The bank operated in a regulated environment.
The audited accounts have to be scrutinized and approved by the CBN before being released to the public.

For you to gauge the health of any bank,either mfb or dmb, there are key metrics you look for and not what people are saying which might be sentimental.

CAR, Liquidity ratio and NPL ratio are very important and if those ratios among others are very solid I will gladly do business with that bank.

Don't let rate alone be the determining factor for investing your money in any investment window. Also consider Safty of your funds, Do your due diligence and be sure you are ready for the risk involved. Most cases high rate/returns is associated with high risk. And sometimes it's very difficult to recover from casualties caused by high risk eventualities. Let's be well guided.. God will bless our hustle

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The High Yield Investment Note is aimed at investors looking to save funds for long periods with periodic interest payment and high returns. Minimum entry sum of N10,000,000.00 (Ten Million Naira Only) and an effective interest rate of 10%. The product, which has a one year tenure, has taken into cognisance that you may require some income during the period, hence, we have provided for interest to be paid either monthly, quarterly or bi-annually depending on your requirements.

Check Signature for more info.

Why choose investment One?

Following the Central Bank of Nigeria initiated reforms in the banking industry, our erstwhile parent company; Guaranty Trust Bank Plc divested its shareholding in the company. The company was acquired by selected investors, management and staff of Investment One.

Founded in 2007, Investment One (formerly GTB Asset Management Limited) commenced business in 2008.

Regulated by the Securities and Exchange Commission (SEC).

Which fidelity bank branch was that please?

iamloyalty:
Fidelity and Standic offered 6.5 for 365 days, for me is better than allowing cash to lay fallow for nothing.

Biafran4life:
Don't get carried away with what ever is been shared as report.The only report I can tell you is that lapo has been closing offices in some states in the last two years living those who opened account in this states stranded.That mfb bank is one chance.

No iota of truth in what you typed mate, you must be referring to some other bank not LAPO . You will do us well if you name the affected states.

On d topic of mfb. A friend mentioned d mum saw one of d mfb advertising high interest rates some years back. When she received her gratuity to d tune of several millions, she invested. So at d end of d day, nothing was recovered despite calls upon calls. I still follow up to see if anything has been recovered up till now. Unfortunately nothing now.

vinc:
On d topic of mfb. A friend mentioned d mum saw one of d mfb advertising high interest rates some years back. When she received her gratuity to d tune of several millions, she invested. So at d end of d day, nothing was recovered despite calls upon calls. I still follow up to see if anything has been recovered up till now. Unfortunately nothing now.

Is the said mfb still in operation, and what is the name of this mfb?

emmanuelewumi:


It is advisable to take your funds to Zenith, GTB, UBA, Access, FBN, Stanbic IBTC, and other healthy banks.

Unity has a negative shareholders fund of over N220 billion, could not pay dividend in the last 9 years, becareful of banks, financial institutions, microfinance banks etc who offer outrageous rates on savings that are well beyond the industrial average.

Check out banks that went under, a year or two before they collapsed they were always offering outrageous rates on deposits, history always repeat itself.

take this advice seriously, as i have withnessed first how this banks/microfinance banks go under after investing customers monies in risky deals and end up crumbling after a few years

osato45:
take this advice seriously, as i have withnessed first how this banks/microfinance banks go under after investing customers monies in risky deals and end up crumbling after a few years

what is the name of the bank you have lost funds ? Be specific.

Good day fellow investors ,I am an ardent follower of treasury bills thread here though I hardly but I must confess this thread has been of great contribution to my financial life.But it is a pity that the investment option is no longer viable and obvious the government wants us to go into physical business to create jobs.Though not minding I have decided to go into a business that am very convinced of its viability which details I don't want to go into here.The business requires about 4 million naira to start and I will be able to raise 2 million naira on my own.I need someone that can provide me with a loan of 2 million naira for 2 years with a maximum interest of 20%.Please this is a genuine call with my integrity fully committed.I am ready to provide such person with whatever collateral that might be required.my digit zero eight one six six zero five nine five two zero

jayjay1512:
Good day fellow investors ,I am an ardent follower of treasury bills thread here though I hardly but I must confess this thread has been of great contribution to my financial life.But it is a pity that the investment option is no longer viable and obvious the government wants us to go into physical business to create jobs.Though not minding I have decided to go into a business that am very convinced of its viability which details I don't want to go into here.The business requires about 4 million naira to start and I will be able to raise 2 million naira on my own.I need someone that can provide me with a loan of 2 million naira for 2 years with a maximum interest of 20%.Please this is a genuine call with my integrity fully committed.I am ready to provide such person with whatever collateral that might be required.my digit zero eight one six six zero five nine five two zero

Start small with your 2m first and see if the business grows, if not, its not a good business.

Honestly, nobody here would be stupid enough to give 2m to you to do a business you just want to start.

OgogoroFreak:
Start small with your 2m first and see if the business grows, if not, its not a good business.

Honestly, nobody here would be stupid enough to give 2m to you to do a business you just want to start.

QED. Thank you.

fineguy11:
what is the name of the bank you have lost funds ? Be specific.

it was a microfinance bank in benin, i cant remember the name, they were under efcc investigation some years back and thus closed shop since then i haven't kept track with them again

OgogoroFreak:
Start small with your 2m first and see if the business grows, if not, its not a good business.

Honestly, nobody here would be stupid enough to give 2m to you to do a business you just want to start.

Have you sold your car, sold your land to invest in your dream, have you stepped down into a cheaper neighbourhood in order to save funds because of the financial demands from your new business.

The first set of people that will invest in your business are your wife, children ( they are the main shareholders) your brothers, sisters, neighbours, parishioners, old school mates, professional colleagues and other people who can vouch for your integrity, experience and knowledge of the business.

I will advise you to open a business account with the nearest microfinance bank or bank, build your business transactions history, after 6 months you should be able to apply for a loan. Although the interest rate from microfinance banks can be as high as 35% and higher.

jayjay1512:
Good day fellow investors ,I am an ardent follower of treasury bills thread here though I hardly but I must confess this thread has been of great contribution to my financial life.But it is a pity that the investment option is no longer viable and obvious the government wants us to go into physical business to create jobs.Though not minding I have decided to go into a business that am very convinced of its viability which details I don't want to go into here.The business requires about 4 million naira to start and I will be able to raise 2 million naira on my own.I need someone that can provide me with a loan of 2 million naira for 2 years with a maximum interest of 20%.Please this is a genuine call with my integrity fully committed.I am ready to provide such person with whatever collateral that might be required.my digit zero eight one six six zero five nine five two zero

where is that lapo guy oya come assit...no only hawking for fixed deposits

ahiboilandgas:
where is that lapo guy oya come assit...no only hawking for fixed deposits

Interest rates from microfinance banks will send him out of business, he should be looking at a minimum of 3% per month or 36% per annum.

emmanuelewumi:



Interest rates from microfinance banks will send him out of business, he should be looking at a minimum of 3% per month or 36% per annum.

It will probably be higher...
They give loan as high as 5% per month.

osato45:
it was a microfinance bank in benin, i cant remember the name, they were under efcc investigation some years back and thus closed shop since then i haven't kept track with them again

You might be referring to SBDC. They operated as a unit licensed mfb.

ahiboilandgas:
where is that lapo guy oya come assit...no only hawking for fixed deposits

We don't give credit to start up's . Only those with existing businesses. Let him start with his 2m and grow his business .

pluto09:



It will probably be higher...
They give loan as high as 5% per month.

Yes on a reducing balance. We have some loan product that are lower 2.5% per month.

fineguy11:
We don't give credit to start up's . Only those with existing businesses. Let him start with his 2m and grow his business .

Is this the official policy of Lapo as regards startup businesses and is there an official notice or instruction to this effect?

Wickedfacts:


Is this the official policy of Lapo as regards startup businesses and is there an official notice or instruction to this effect?

You need to have a pedigree and track record in your line of business before seeking for funds from financial institutions.

If you have highly liquid collateral, this requirements might be waived at the discretion of the loan officer.

You can't have N10 million worth of FGN bonds, and you need N4 million loan for a start up business from a bank. There is 60% probability that the loan will be granted even though the business is a start up

fineguy11:
You might be referring to SBDC. They operated as a unit licensed mfb.

2m gone