Sholapey:
Akin, I didn't post it to object or to spoil his bidding. I posted it for him not to get scammed by unknown because I am the owner and that's the only agent I gave the property to manage the adverts. The asking price is clearly stated on his jiji page and the company webs.

Kind regards!

Oh I c, you've done well. May almighty God continue to bless you.

Nice one.
but non be naija, when microfinance bank starts disturbing them, they will come with their wives and lie on the bare floor begging you to get the bank off their back by paying off the loan that they promise to pay.
They can also involve pastors, imams, mutual friends, elders etc to apply pressure on the person directly on even through your wife.
Except you are already getting known as a tough guy, and not one kind hearted gentleman, it is generally better not to loan out money at all and the best way to ensure this is to avoid having temptation money hanging around in your account otherwise they will put the fear of God in you and you will release the money even after swearing not to.

MrMcJay:


Do microfinance bank have this facility?
Not all, but some individuals approach banks to lend to specific persons through the MFB.
It's a private arrangement between the lender and the MFB. The bank makes money without investing a kobo. Besides, it increases the books.

Do they have an option of where the borrower says he will pay in 6 months, that their own loan kicks in at the expiration of the 6 months when the borrower said he was going to pay? This way, the MCFB will be serving as a sort of guarantor for the loan.

The idea behind this is to protect the lender from unserious borrowers. If the borrower knows the money belongs to the lender who is also a friend, he won't pay. But if he knows it belongs to the MFB and they would not hesitate to mess him up if he defaults, he would behave.

Akin3891:


Oh I c, you've done well. May almighty God continue to bless you.

Amen, same wishes thanks.

Nigsrdumb:


I have just mailed you. My contact number is in the email.

Please add me via WhatsApp to discuss further.

I will check n add you shortly.

ojesymsym:
Nice one.
but non be naija, when microfinance bank starts disturbing them, they will come with their wives and lie on the bare floor begging you to get the bank off their back by paying off the loan that they promise to pay.
They can also involve pastors, imams, mutual friends, elders etc to apply pressure on the person directly on even through your wife.
Except you are already getting known as a tough guy, and not one kind hearted gentleman, it is generally better not to loan out money at all and the best way to ensure this is to avoid having temptation money hanging around in your account otherwise they will put the fear of God in you and you will release the money even after swearing not to.

Actually, there is no begging in this matter because the borrower doesn't know you are actually the lender and you don't feature in the loan documentation. The lender believes the money belongs to the MFB since he's dealing directly with the MFB.

The best security is not lending him the 10m but giving him what you can afford without any need for him paying back.

Barrytone:
Help a friend, am lendng 10m at 10% to a colleague and am only asking for cheques written on my name for the 3 instalments he wish to pay back. My query is if those cheques are enough security.

ojesymsym:
Nice one.
but non be naija, when microfinance bank starts disturbing them, they will come with their wives and lie on the bare floor begging you to get the bank off their back by paying off the loan that they promise to pay.
They can also involve pastors, imams, mutual friends, elders etc to apply pressure on the person directly on even through your wife.
Except you are already getting known as a tough guy, and not one kind hearted gentleman, it is generally better not to loan out money at all and the best way to ensure this is to avoid having temptation money hanging around in your account otherwise they will put the fear of God in you and you will release the money even after swearing not to.

You don't understand the scenario, he only used his influence to make sure the loan application was granted by the microfinance bank, even though he is the underground provider of the fund

Yes, I now understand that I was thinking differently.
What I was thinking of is a scenario like this: Mr Tony my very good friend comes to ask me for 10M, I have that amount but I also know the risk of lending out that money even though Mr Tony is a good guy generally.
So, I tell him I cannot give him that kind of money directly but if he is sure he can pay, we can use a financial entity (microfinance bank or any arbitrator) as our gateway. I don't mind paying administrative fees
So, we approach this entity and if he says he will pay in 12 months, the loan will be interest free for those 12 months if he really pays. If at the end of the 12th month he does not pay, the financial entity pays me the money and then upgrade that friendly loan from me into a loan that they now directly gave Mr Tony. From that point, interest rates and harassment can now begin while I have my money intact. That was the kind of scenario I was asking exist.
I guess this is different from the scenario that MrJay is talking about.

emmanuelewumi:



You don't understand the scenario, he only used his influence to make sure the loan application was granted by the microfinance bank, even though he is the underground provider of the fund

ojesymsym:
Yes, I now understand that I was thinking differently.
What I was thinking of is a scenario like this: Mr Tony my very good friend comes to ask me for 10M, I have that amount but I also know the risk of lending out that money even though Mr Tony is a good guy generally.
So, I tell him I cannot give him that kind of money directly but if he is sure he can pay, we can use a financial entity (microfinance bank or any arbitrator) as our gateway. I don't mind paying administrative fees
So, we approach this entity and if he says he will pay in 12 months, the loan will be interest free for those 12 months if he really pays. If at the end of the 12th month he does not pay, the financial entity pays me the money and then upgrade that friendly loan from me into a loan that they now directly gave Mr Tony. From that point, interest rates and harassment can now begin while I have my money intact. That was the kind of scenario I was asking exist.
I guess this is different from the scenario that MrJay is talking about.

Interest-free loan for 12 months? I doubt if any financial institution would agree to this. They are also in business to make profit.

The principal and interest are calculated and a repayment plan not exceeding 12 months is agreed upon. Also, if he defaults, the bank won't give you the principal from their own pocket, they would only step in to recover. In fact, once he misses any payment, they would start showing him Hell.

ojesymsym:
Yes, I now understand that I was thinking differently.
What I was thinking of is a scenario like this: Mr Tony my very good friend comes to ask me for 10M, I have that amount but I also know the risk of lending out that money even though Mr Tony is a good guy generally.
So, I tell him I cannot give him that kind of money directly but if he is sure he can pay, we can use a financial entity (microfinance bank or any arbitrator) as our gateway. I don't mind paying administrative fees
So, we approach this entity and if he says he will pay in 12 months, the loan will be interest free for those 12 months if he really pays. If at the end of the 12th month he does not pay, the financial entity pays me the money and then upgrade that friendly loan from me into a loan that they now directly gave Mr Tony. From that point, interest rates and harassment can now begin while I have my money intact. That was the kind of scenario I was asking exist.
I guess this is different from the scenario that MrJay is talking about.

How can a loan facilated through a financial institution be interest free?

What is the motivation for packaging the deal?

MrMcJay:


Interest-free loan for 12 months? I doubt if any financial institution would agree to this. They are also in business to make profit.

The principal and interest are calculated and a repayment plan not exceeding 12 months is agreed upon. Also, if he defaults, the bank won't give you the principal from their own pocket, they would only step in to recover. In fact, once he misses any payment, they would start showing him Hell.

A bi ooo


It happens if it is a long term project, but such can't be packaged by a microfinance bank.

Eg the Dangote Refinery project, might not pay interest for a certain period of time, such loans can run for 5 years and above , they can even have a clause that the transaction should run the term. That is Dangote can't decide to liquidate the loan under 3 years. The documents to the assets of the business will also be in the custody of the financiers which will be a group of banks

LOL... I was thinking since it is not really their money that we are starting the transaction with.

But your question is valid though, what do they stand to gain in all of these assuming the guy really pays before time. However, the game changes if he does not finish paying by the end of the tenor, don't you think so? since it will now be loan from the bank and no longer from the lender.

MrMcJay:


Interest-free loan for 12 months? I doubt if any financial institution would agree to this. They are also in business to make profit.

The principal and interest are calculated and a repayment plan not exceeding 12 months is agreed upon. Also, if he defaults, the bank won't give you the principal from their own pocket, they would only step in to recover. In fact, once he misses any payment, they would start showing him Hell.

emmanuelewumi:



How can a loan facilated through a financial institution be interest free?

What is the motivation for packaging the deal?

ojesymsym:
LOL... I was thinking since it is not really their money that we are starting the transaction with.

But your question is valid though, what do they stand to gain in all of these assuming the guy really pays before time. However, the game changes if he does not finish paying by the end of the tenor, don't you think so? since it will now be loan from the bank and no longer from the lender.

You don't get it. It is a loan and interest must be paid.


The guy seeking for our advise is getting an interest on the N10 million.


Who gives an interest free loan of N10 million, with the associated risks involved. As bad as Treasury Bill is, he will still get like 250k on his money in 12 months

Oh okay, point noted.

emmanuelewumi:



You don't get it. It is a loan and interest must be paid.


The guy seeking for our advise is getting an interest on the N10 million.


Who gives an interest free loan of N10 million, with the associated risks involved. As bad as Treasury Bill is, he will still get like 250k on his money in 12 months

Barrytone:


Mind retardation might be right but am global with just my phone, others, no no, I am the proud king of the Jew that knows the power of jewism. I have groomed system men that don't doubt my efficacy in street matters and are always updating their new crew. In general, I have sympathizers, been with them close to half a century. In the peak of kidnapping, I was there with them and was a catalyst to reduction in armed robbery so why should I leave a place I made safe to an unsafe haven that I don't know bedrock of their ruggedity. Too old to run the streets for information, in my village information comes to me.

try and visit Lagos boat club or register as a club member in civic centre....or ibb golf club or apapa club and role with the real street and economic gangsters of Nigeria ...

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Update

FGN bond coming up on the 22nd July...3 bonds are re opening while 1 is New issue. Below is the details:

N25,000,000,000 - 12.50% FGN JAN 2026 (10-Yr Re-opening)*
N35,000,000,000 - 12.50% FGN MAR 2035 (15-Yr Re-opening)*
N35,000,000,000 - FGN JUL 2045 (25-Yr New Issue)*
N35,000,000,000 - 12.98% FGN MAR 2050 (30-Yr Re-opening)*

Yield should be around 8-9% for the new issue.

Any investor investing 100M can exit at any time.

emmanuelewumi:



A bi ooo


It happens if it is a long term project, but such can't be packaged by a microfinance bank.

Eg the Dangote Refinery project, might not pay interest for a certain period of time, such loans can run for 5 years and above , they can even have a clause that the transaction should run the term. That is Dangote can't decide to liquidate the loan under 3 years. The documents to the assets of the business will also be in the custody of the financiers which will be a group of banks

If he wants to defer interest, no bank would even answer him.

Dangote's loan was a syndicated loan of 3 Billion USD from 10 Nigerian banks and 2 foreign banks. I don't know how long he got as moratorium on that. But I know he got 650M USD from Afrexim bank with a 5-Year moratorium.

Imagine lending out 3 Billion USD at 330 Naira per Dollar and then getting paid back 3 Billion USD when Naira has reached 500 per dollar. Also, the interest would be in dollars.

Logictinz:
Good day house. Please how do I withdraw my money in FBNQuest? I have been trying to redeem through the app but keep failing.

Why did it fail? I redeemed @ past 12 am on Friday and I received the funds on Saturday night. Make sure you input your pin number correctly and if you've forgotten, reset it on the apps settings.

ahiboilandgas:
try and visit Lagos boat club or register as a club member in civic centre....or ibb golf club or apapa club and role with the real street and economic gangsters of Nigeria ...

I have invite from friends to join ibom golf club but as a village boy it's not worth my time. Ask me what I enjoy doing and not what I should do because my financial status changed. I enjoy everything I am doing now, I am okay with my plans so far and accomplishment of the plans. May I inform you that I meet up my yearly target before March of every year, despite covid, am even targeting my 2021 target. What else should make me change a winning formula. All I need is time and I will achieve my goal. To me, the key is contentment, contentment is meeting your goals and aspirations. I never set goals that are not achievable and don't change targets until the entire process is completed. I still have 12 years for the present financial plan to expire then I can think of something else. Clubs or favours from people are not part of that plan. I stick to my game before I go faint for national assembly when question time come. That prof is a member of several club but I guess his life will never remain the same. Na from club cultism and fraternity go come. Peace of mind is golden and can't be traded. I remain a low life kingpin provided my soul enjoys it.

emmanuelewumi:



You need additional security. You need an agreement to that effect. You might need a lawyer to draw up an agreement, which will be registered and deposited with the nearest high court
.Do you have to go this route?...


Why can't you direct him to the nearest bank or loan him an amount you can decide to write off eg 500k or any amount you are comfortable with

Talking about loan, my account officer called me for a dumb loan first bank is offering fixed income customers including TB customers, they call it cashback loan. You fix xx amount for 0.03%, then liable to get a loan worth 90% amount fixed. You pay 5% + 0.03 at the end. I just smiled, you want me to use my money do bizz then pay you 5.03% for that.

Akin3891:


Talking about loan, my account officer called me for a dumb loan first bank is offering fixed income customers including TB customers, they call it cashback loan. You fix xx amount for 0.03%, then liable to get a loan worth 90% amount fixed. You pay 5% + 0.03 at the end. I just smiled, you want me to use my money do bizz then pay you 5.03% for that.

Funny people.

Barrytone:


I have invite from friends to join ibom golf club but as a village boy it's not worth my time. Ask me what I enjoy doing and not what I should do because my financial status changed. I enjoy everything I am doing now, I am okay with my plans so far and accomplishment of the plans. May I inform you that I meet up my yearly target before March of every year, despite covid, am even targeting my 2021 target. What else should make me change a winning formula. All I need is time and I will achieve my goal. To me, the key is contentment, contentment is meeting your goals and aspirations. I never set goals that are not achievable and don't change targets until the entire process is completed. I still have 12 years for the present financial plan to expire then I can think of something else. Clubs or favours from people are not part of that plan. I stick to my game before I go faint for national assembly when question time come. That prof is a member of several club but I guess his life will never remain the same. Na from club cultism and fraternity go come. Peace of mind is golden and can't be traded. I remain a low life kingpin provided my soul enjoys it.

Good for u but dont courage or promote the village thing to young people......

Well said my guy.

Barrytone:


I have invite from friends to join ibom golf club but as a village boy it's not worth my time. Ask me what I enjoy doing and not what I should do because my financial status changed. I enjoy everything I am doing now, I am okay with my plans so far and accomplishment of the plans. May I inform you that I meet up my yearly target before March of every year, despite covid, am even targeting my 2021 target. What else should make me change a winning formula. All I need is time and I will achieve my goal. To me, the key is contentment, contentment is meeting your goals and aspirations. I never set goals that are not achievable and don't change targets until the entire process is completed. I still have 12 years for the present financial plan to expire then I can think of something else. Clubs or favours from people are not part of that plan. I stick to my game before I go faint for national assembly when question time come. That prof is a member of several club but I guess his life will never remain the same. Na from club cultism and fraternity go come. Peace of mind is golden and can't be traded. I remain a low life kingpin provided my soul enjoys it.

Sholapey:
People that borrow with no intention to pay back always set traps for their beneficiaries. Just like what end the life of founder of Gokoda.

True my sister, there are risks attached to doing good sometimes. The gokada guy was lenient with his assistant to pay back but he took his life instead. It take some people time to realise that you are all you've got

I no get 50millon . if Abioilandgas and barrytone and sholapey them fit borrow me sha

XiaoLi:
Update

FGN bond coming up on the 22nd July...3 bonds are re opening while 1 is New issue. Below is the details:

N25,000,000,000 - 12.50% FGN JAN 2026 (10-Yr Re-opening)*
N35,000,000,000 - 12.50% FGN MAR 2035 (15-Yr Re-opening)*
N35,000,000,000 - FGN JUL 2045 (25-Yr New Issue)*
N35,000,000,000 - 12.98% FGN MAR 2050 (30-Yr Re-opening)*

Yield should be around 8-9% for the new issue.

Any investor investing 100M can exit at any time.

XiaoLi:
Update

FGN bond coming up on the 22nd July...3 bonds are re opening while 1 is New issue. Below is the details:

N25,000,000,000 - 12.50% FGN JAN 2026 (10-Yr Re-opening)*
N35,000,000,000 - 12.50% FGN MAR 2035 (15-Yr Re-opening)*
N35,000,000,000 - FGN JUL 2045 (25-Yr New Issue)*
N35,000,000,000 - 12.98% FGN MAR 2050 (30-Yr Re-opening)*

Yield should be around 8-9% for the new issue.

Any investor investing 100M can exit at any time.

Hmmm 25-30 yrs tenor?? Even 5 yrs too long for me!!

alezzy13:


Hmmm 25-30 yrs tenor?? Even 5 yrs too long for me!!

There is a secondary market for the investment

Barrytone:


I have invite from friends to join ibom golf club but as a village boy it's not worth my time. Ask me what I enjoy doing and not what I should do because my financial status changed. I enjoy everything I am doing now, I am okay with my plans so far and accomplishment of the plans. May I inform you that I meet up my yearly target before March of every year, despite covid, am even targeting my 2021 target. What else should make me change a winning formula. All I need is time and I will achieve my goal. To me, the key is contentment, contentment is meeting your goals and aspirations. I never set goals that are not achievable and don't change targets until the entire process is completed. I still have 12 years for the present financial plan to expire then I can think of something else. Clubs or favours from people are not part of that plan. I stick to my game before I go faint for national assembly when question time come. That prof is a member of several club but I guess his life will never remain the same. Na from club cultism and fraternity go come. Peace of mind is golden and can't be traded. I remain a low life kingpin provided my soul enjoys it.

Very good and I really appreciate your outlook about life, what are the books that shaped your thinking and philosophy ?


Currently reading " Secret" by Rhonda Byrne

Akin3891:


Why did it fail? I redeemed @ past 12 am on Friday and I received the funds on Saturday night. Make sure you input your pin number correctly and if you've forgotten, reset it on the apps settings.

Wow, thanks a lot. I just did. I was inputting the wrong pin. I just reseted the pin as you suggested and it worked.

Thanks @ Oga Emma, for your reply too.

I appreciate you guys.

Akin3891:


True my sister, there are risks attached to doing good sometimes. The gokada guy was lenient with his assistant to pay back but he took his life instead. It take some people time to realise that you are all you've got

You see what I mean my brother... PA that's like right hand.
Evil hearts are experts at fooling others with their smooth speech and flattering words. Sadly, they're people who are close to you.

Sholapey:
You see what I mean my brother... PA that's like right hand.
Evil hearts are experts at fooling others with their smooth speech and flattering words. Sadly, they're people who are close to you.

As the PA he knows everything about his boss, his Investments, account balance etc. The PA has an entitlement mentality to his boss wealth...

He stole about $90,000 from his boss, he believed the guy should be able to write it off ..
People who worked for their money won't do that

The PA spent the money on frivolities, which is very common among us ie Africans