That Shell woman should be arrested by the police she was part of the scam!!

Also get a north American qualification on something.

I don't know about any other part of the world but as for north America. Be sure you can drive well. With this skill you are likely to achieve in 3yrs what it takes many to get to in 10yrs. Also the willingness to work and not think you are smarter than others.

Backfornow:

It might be more helpful to you if you ask specific questions that you are wondering about. Credit is such a big subject.

I don't actually have any questions to ask,just open to learn new stuff. I agree that it is a big subject and will take a look at the links you have provided.

Aretha Franklin.......

I think the most important thing to discuss on this thread for starters is credit. What it is ,how to maximally utilise it especially for our people. I have met people who have been here over 8years and didn't seize it to quickly propel them eco comically. When we got here last year I was told that it takes 2years to build credit,but from my 9month experience I see that the person [though he has lived here for 14yrs didn't know about it]. In my exactly 12months here I know that if understood and used right it can open doors to a good level of living. Anyone that knows about this subject please shed lots of light to us. I am willing and hungry to learn all I can. I also noticed in many threads that there is always a lot of emphasis on employment. Are there any entrepreneurs here ? If we have any please drop lessons, people like me are hungry to learn.I dey wait eagerly......

Hmmmmmm......this story and pictures appear staged to me.

He should thank his stars they didn't attack him.I don't blame the fellow that tried to escape though.

The man can't read and all this talk is just an attempt to spin reality. He is more of a block head with fake degrees. They should tell us why they made him IGP from commissioner of police kano. I really wonder the job he did for the APC government that he was rewarded this way. I hope there isn't a relationship with the INEC COMMISSIONER who was burnt to death with his family under suspicious circumstances. Anyway, God dey.

OP, I see that you are a man of faith.I would sincerely counsel that you continue to build you business on your own. In sincerity I don't see how your further interaction with BOI will not end in a disaster. People have from individual effort built big businesses in Nigeria without doing anything shady and I don't see any reason why you can't achieve the same. There must be a better way to do the business you are engaged in. All that may be required is for you to spend quality time thinking on a different approach from what you are presently doing.I wish you all the best in your endeavour. There is a spirit in man and the inspiration of the Almighty gives them understanding.

Another poorly thought out policy!!! In a country where teachers are not even qualified to teach!!!!! This is going to set us back 100years!!!! Kaduna state comes to my mind.....smh.

I think we need to get this right not just for the OP but for others in the future. In Nigeria, adoption is a legal term when a couple is involved in taking a child over. It doesn't apply here because the OP is the biological mother of the child. I think for immigration purposes she can migrate with her son especially as he is a minor.I don't think our law recognizes the adoption the OP is suggesting. The son is a step-son to her husband hence can be granted immigration visa on that basis.

anitank:
Good Morning people. Please experts in the house I need an urgent reply.

I got married recently but had a son already. My husband wants to adopt my son legally so that he can file his papers for easier and faster migration into the US. My son will be 10 this August.

Searched everywhere on google on the adoption process but didn’t find suitable information. Please how do I go about this??

I think the question really is where is your son's biological father in this? If no one is contesting or likely to contest then there is no talk of adoption as he is your child and your husband can give him his name. It's another matter if the biological father is both in the picture and providing care and support for the child!!!!! Any attempt at taking off without the bio. father's permission may hamper your intended process if he gets wind of it and reports, it may be reported as kidnapping. I am not a lawyer but I have seen similar situations.

LaudableXX:

You are the one that needs a clearer understanding of how BOI operates, and how intervention funding is supposed to work. Did you read his post properly, before you even passed your comments? Of what use is 'intervention funding,' if such funds are never released to the applicants or prospective beneficiaries, who have actually qualified for it?

Or didn't you see this part, in his post or you just chose to deliberately ignore it, in order to make your snide remarks? kindly pay particular attention, to the portions highlighted in bold type.

Na wa oh!!!
Nigeria is just wasting away.
Sooo much potential and many idle hands.
When will we get these very simple things right?
You can imagine even China with its giant industrialization strides is actively supporting new initiatives using this same means and we don't want to do it right.
It's really sad.

deenee:



I have read both and even the comments from others and this is my final conclusion. The op didn't do his own due diligence before applying for the loan because everything he has complained about is on the boi website. They have stated it clearly that they won't give direct cash but rather pay directly to suppliers and the fees he is complaining about are also clearly stated on their website so it funny that he is complaining about it.

You are the person not reading. The OP didn't say he was expecting direct cash. He wrote explicitly about his suppliers and their locations in Nigeria!!!!
You must understand that institutions in Nigeria especially those cash backed or bankrolled by government have the best policy documents or framework upon which they operate. A close look will show you that they are set to fail because right in there a loophole is deliberately created to exploit the system for selfish purposes and hence weaken it and make it ineffectual.
The BOI has staff that go on regular, costly training both local and international for the purpose of helping will be beneficiaries with their business plan development and even practical on the site/field support. So why in world would any external body require to be accredited with additional cost burden on the business owner?
An answer to this question will be appreciated. Thanks

deenee:




Pls go to the boi website and read it very well. Yes what he does as bdsp is very much legal and names of approved bdsp is on the boi website.

Even cbn works with bdsp on thirty anchor borrowers and cbn. Msme programs for appraisal and post monitoring and evaluation.

Jeez people don't even read again at all.

You missed the point.
The reason why those institutions are not functioning properly and are corrupt is your so called bdsp!!!!
If you are a good b dsp you go look for clients in the private sector!!!
You see many of the staff on the pay roll were hired and are still being hired to do this job yet they expect entrepreneurs that want government low interest loans to hire external private sector entities? It's our Nigerian thing and why we are not growing yet claim excellence.
Everyone claiming to be financial experts but only exploiting contacts and cliques and nepotism to line their pockets and bank account. Lol at accredited bdsp!!!!! We just keep deceiving ourselves. Job for the boys!!!! Shame!!!

marvin906:
who the gods want to kill they first make mad

Exactly what came to my mind.

Adexyolu:
I very much understand your frustration, but i will like to categorically state here that BOI is not a fraud. My Firm is a partner wit BOI and we have successfully generate loan facility for many organizations from BOI amounting to Billions of Naira. Although... There requirements are quite much and the process can be a bit strenuous. All you need is to get a good BDSP ( Business Development Service Provider) to work with. Talking about the fee, There are 3 different fees you need to pay before you can have access to the money.
1 Appraisal Fee which is 1% of the total loan and is non refundable. You will have to pay it at approval
2 Commitment Fee which is also 1% of the total loan, it is also non refundable. You will pay it after you have receive your offer letter before the money will be deposited with your bank. That is if you are using Bank Guarantee.
3. Legal fee which is between 2-5% depending on what guarantee you are using. If you are using bank guarantee, it will be lower than 1%, but if you are using Property as a collateral, then legal fee will be between 2-5%. It is also non refundable.

All these fees is a must if you ever want to obtain a loan from BOI and you must have been told by your BDSP before commencing the process for the loan.
Also let me note here that BOI loan of 10% interest rate is the lowest of all the financial institution in Nigeria. And also it comes with a monotorium of 6-18months. That mean for that period, you will only be paying interest alone for that monotorium period.
Also...BOI only fund purchase of equipments or working capital. They disburse the fund directly to the equipment suppliers unless you are using a Bank guarantee, before they will disburse the money to your bank.
There are still other information i cannot share here, but if you need more clarification, you can hook me up.

So in effect your company is a middle man organization?
Is this legal? Or permissible?
In Nigeria an agency that is structured to deal directly with the public using middle men only means CORRUPTION!!!!
You are promoting the things that are dragging us back as a people.
Without doubt your company is going to get a big slice of the money the entrepreneur requires to run the business. Little wonder why they will eventually default.

maasoap:


Mine was CBN-Sterling Bank YEDP Programme.
Loan of 3 million naira was cut to 2 million naira. This was besides my pledge to contribute 1 million naira to the project of 4 million naira.
Moratorium period was cut from 3 months to 2 months.
Money was to be paid to equipment suppliers after the purchase which could be difficult to achieve with the suppliers.
Initially, I was to submit my degree and NYSC certificates to the bank pending the time I would pay off the loan. But when the offer letters and agreement documents were sent to me, they changed everything completely. My guarantors would submit the documents of their properties and all their account numbers alongside my certificates.
I didn't even bother to go to my guarantors or contact my account officer again. Dead end.
If anyone is interested in viewing the documents, I can send it.
All the money I spent up to that stage just wasted like that. Including tips given to inspection officer.

Now, if this is reality it is a sad situation. This is how initiative is killed in Africa!!! But you must encourage yourself and make a move somehow don't let those devils kill your dream!!!

I know for certain that the payment is official and BOI is knowingly collecting these funds when they don't intend to fund the equipment or supplies needed by those businesses applying.
I am particularly interested in this subject because I see people in government and I see that no one cares about Nigeria and we are a nation of great people and wasted potentials. Very GREAT waste I tell you.

Henrysat:
As a staff of the Bank, I can assure you that if indeed you've been dealing with the Bank all you need to get this issue resolved is a call to the customer care unit. No staff of the Bank is allowed to collect a penny from you until you accept the offer letter. Kindly drop your complaint with the customer unit 07002255264/customercare@boi.ng

Are you suggesting that the 1% non-REFUNDABLE payment isn't official? Please I want an answer to this question. Thanks.

traeces:


Whatever the proposal/business feasibility I submitted, it was reviewed by various staff of the bank at different levels and judged feasible before my application got approved so I don't see how a presentation of my business plan to you changes anything

Thank God you didn't fall for that nonsense talk.
What does this man's proposal have to do with anything.
Think!!!!! Nigeria is in infancy!!!!!
Many things will work if we want to work them.
You don't need to steal the OP's idea, think yours out!!!!!

muzzol:
OP, first of all, everybody knows that BOI does not give money to investees, rather they do asset financing, so your outcry shows that you didn't investigate the conditions attached to the facility before applying....secondly, all what you wrote as callous acts from BOI are well stated in their website as conditions precedent to accessing their facilities, so if anyone is to be blamed, i think it should be you, who did not investigate or ask your financial advisor before applying for a facility. Moreover sir, as someone suggested above, i think it is important you share with us what you proposed to BOI in your business plan and the pre-application form you filled. Next time sir, involve your financial advisor (a professional) in issues involving financing of your business.......a poster above did an intelligent thing by seeking for angel investors to finance his start-up......the truth is that nobody anywhere in the world will give you money to kick-start a project without you bearing the risks....you shouldnt expect BOI to give you their money and still bear all the risks (which risk can be more than their money they gave you?)

I am doubtful if you know what is going on there. In fact one of the conditions my friend was given was to engage a so called Professional and he smartly asked them to recommend one. The fellow he got was cunningly milking him of money. Thinking of it all now just made me laugh like I do each time I hear these two words said together of anyone in Nigeria : "financial professionals ".I know it is generalizing but I also know it is wisdom to be guarded anytime ANYONE says that to me.... lol!!!

Sosqui:
This is really sad... But the 1% non refundable fee is a fraudulent one collected by the branch. I will advice you report them to their Management copying CBN. They must refund you the money.

Thank you

Bro, not branch oh.
Headquarters was where my friend had his transaction.

Hmmmm
OP unfortunately that organization is just a fraud. A friend of mine had a similar experience with them. He is a business man who had grown his company from scratch and thought he could expand to fulfill his dreams with the BOI only to lose about 3Million naira to them plus a lot of time wasted and funds expended flying on a regular basis for several months between Abuja and Lagos to the headquarters of his bankers to fulfill some purposely inserted impossible clauses in the terms for the loan.
You can imagine they asked him to pay that NON-REFUNDABLE deposit even when they knew they were not going to give him the facility. If not for God and his tenacity to move on. The guy for done go village!!!!
BOI is just a fraud!!!!
Sad situation in Nigeria where institutions that should support entrepreneurs just frustrate and sabotage them. Worse yet steal from them!!!.

What is the purpose of this "battle"? Common good or corruption?

eezeribe:

Star-studded indeed,no wonder you don't know the past tense of 'mark'....

You are a very wicked someborry!!!!!!!!