₦airaland Forum

LAPO microfinance bank who claims to help the poor, is number one exploiter of the poor and illiterates.

Scenario: You borrow N100,000; with a monthly interest rate of 2.2% and another 1% imonthly contribution

Before you are given the loan, you pay administrative fee of 10% and insurance fee of 0.5%. Assuming you choose a tenor of 6 months, here is the break down of everything on N100,000 loan.
Admin fee is 10% of N100,000 = 10,000

Insurance fee is 0.5% of N100,000 =N500.

You must pay N10,500 Upfront before you're given the N100,000.

After you are given the loan, this is what you would be paying monthly:

2.2% x6 months x N100,000 =

13,2% X N100,000 = N13,200 interest

plus

1% monthly contribution is 6% for the 6 months tenor

6% X N100,000 = N6,000

So, add the loan, the interest and the minthly contributions

You get N (100,000+13,200+6,000)

= N119,200

Your monthly instalment is N119,200/6

= N19,867
N119,200 +N10 ,500 (Admin/insurance

= N129,700.
You pay N29,700 interest on N100,000 Loan in 6 months

29.7% interest rates in 6 months and approx 60% annually.

LAPO LAPO, tell me how you lift prople out of poverty whereas you are making them poorer.

Reazest:
Please I need partner in my Forex carrier. Fund is needed to excel in trading. My partner will be well paid. Guarantee. No story. I will sign an agreement with you.

chingle5:
This post is too long .... I wonder how people hv the time to read through long post And still comment

Sameazy15:
Pls does that mean am incompetent ?

sellers4buyers:
I have two performing buyers who needs agregate of 1,400mt of sesame monthly on fob or CIF basis.

Price: very competitive
Origin: Nigeria, Niger or Chad
Payment mode: CAD bank to bank or customer to customer

If you are interested as an exporter, kindly get in touch via my signature.

If you are also interested as none exporter, you can as well get in touch, we can work something out.

Cheers.

biznezman40:
Hello fellow nairalanders, your candid pieces of ideas are needed here. I am a young man with 100k which I don't want to squander. Please advise me as to what business I can start with this amount of capital.

BigJoe19:
The visit isn't important or useful to the average Nigerian.

LoveToRead:
From the way they were spending, it was obvious money was not a problem. They asked me to pick two pair of shoes that were my size. I declined but Steph insisted.

'Come on, Alex. How could we buy all these for ourselves without any for you? We're one.'

I gave in and chose two pairs of Bruno Magli shoes - one black, one ox-blood color.

After the shopping, we went to Tantalizers and ate to our satisfaction.

I particularly took notice of the fact that Steph would not stop locking her eyes with mine. I pretended it was all coincidence. Not to be left out, I bought food for Mr. Taju, the driver. It was early evening when I got back to my apartment. I whistled to myself in bliss.

The following day was Sunday and I was in the church early for the first service. At the end of the service, I was at the exit of the church when I met the parish pastor.

'Good morning, sir,' I curtsied.

'Good morning.' I went past the man, but he called me back.

'Young man,' he said. 'I got a message from the Lord about you just now. The Lord says the level He has for you is not where you are now. He says He will take you to very great heights. However, you must be careful.

The Lord says you should be careful about women and lusts. The Lord says woman will lift you up, but if care is not taken, woman will crash you irredeemably. Watch out.'

I thanked the man of God for the message and left for home, wondering about the message. Later that afternoon, Enny came around. She did not stay for long. Her behavior continued to give me some concern. But it was good she did not stay for long.

Less than thirty minutes after she had gone, Madam B was in the house.

‘Enny left not long ago,’ I informed her.

‘I see. How’re you, Alex?’

‘I’m fine.’

For inexplicable reasons, we were not using words of endearments for each other. I decided to keep things as she wanted them. Again, we had passionate time together. Madam too did not stay for long. After about an hour, she left.


* * *


That same day, about six p.m., I had another visitor. This one was an unexpected one. The bell of my apartment was buzzed; and to my surprise, Steph was at the door.

'Steph?' I couldn't hide my surprise. 'What are you doing here? Where's Sophia?'

'Are you going to let me in, or are you gonna be interrogating me?' She smiled and corked her head to a side.

'Oh, please come in. Sorry about that. It's just that I was very surprised.' I opened the door wide for her to come in.


https://publish.okadabooks.com/book/about/the_sugar_mum_the_steamy_version/35123

nwaezeemmanuel:
I suspect Photoshop

Yahksbiz:
how can a relationship be without kiss, hug and sex....... can a guy do this?

I don't think she is asking for too much, but she will like to see you prove the love you got for her.

dfrost:
Pierce Brosnan - Most romantic Bond ever

StagethemTVee:
Live and Let Die was my first of him

BadRadio:
Chances are, he or she will beat the living daylight out of you. U might even find yourself in the army guardroom.


Is domestic violence or brutality avoidable?

IKWUADA:
I need answers,.
why don't girls toast boys they like

olorire24:
Marriage of these days are built on fantasies rather than reality...
Furthermore,failure of either one or both couple to fulfill his/her obligations of marriage could lead to it

dhope:
I doff my � for you. I would appreciate if you can show me how you go about mini export of agric commodities. I prefer ur kind of guidance to some folks who never buys and sells anything in their life but be compiling virtual ebook for sale here. Thank you

dfrost:
And so?

When all of these guys tell these stories (no shoes, akara boy, corn seller), what will those that really passed through these ordeals now tell? I'm waiting for that one wey e papa buy fast car give, to come tell us as she and her sisters sell dodo kire for Epe. Nonsense and Fashlock.

czarr:
Dem no dey ever kiss for film, but na dem get the highest case of rape for the world. na still dem like to dey masturbate for social media dey take dickk pics dey send our girlfriends...na still dem invent kamasutra sexxx positions. This people hypocrisy na special made.

babakb:
All the Caribbean countries don't really have much to offer except you become a citizen.


With 150,000 USD you can buy citizenship there so that you enjoy visa free status to all Europe, and other developed countries.

Kaymus:
Binary options trading is real! You just need to learn simple ways and strategies for winning and not the hard ones you were taught. Besides Binary.com's minimum time limit is never helpful and may not favour you. I teach two reliable practical strategies for winning trades on the binary options platform on a one-on-one basis. You can meet me in Lagos or on Watsapp. I have taught more than 30 individuals within and outside Lagos who contacted me here on nairaland. You can reach me on my Watsapp line: zero eight zero eight zero three two six three two seven or call me on my MTN line: zero seven zero three one two eight two six one four. Terms and conditions apply!
Shalom!

Sinzzle8:
I'm already tired of wasting money on binary.com and I'm already losing hope.Do people really make money on binary.com I would like to know.Making money is becoming really hard nowadays.I have lost so much in binary trading and it's so frustrating and depressing.