₦airaland Forum

Thank you. I am grateful.

lavylilly:
That requirement is likely due to the bank's need for a guarantor with a stable income and a certain level of credibility. In Nigeria, the civil service uses a grading system, with levels 8-14 corresponding to senior officers and directors. The bank likely considers individuals in these levels to be reliable guarantors due to their:

- Stable income
- Job security
- Higher rank and credibility

By requiring a guarantor in this category, the bank ensures that someone with a reliable income and social standing will vouch for your loan repayment. This reduces the risk for the bank and provides an added layer of security for the loan.

I hope this clarifies the requirement! Let me know if you have further questions.

Hello pls, as part of the criteria for my employment in a microfinance bank, I was told to ensure I get a Civil Servant on Level 8 – 14 or above as my First Guarantor. Pls , can someone enlighten me on this pls.