₦airaland Forum

kunleweb:
Besides hooliganism what can these folks offer a metropolitan society. An urban society needs creative ideas to thrive and this isn't one of them.

Sanwo Olu isn't fit nor ready nor understands what creative leadership means.

This kinda sheet is what happens when a society doesn't have a rank and file system where nobles can ascend the productive ladder to emerge leader

What a Waste of bullion van

Come up wothh creative ideas for radical societal transformation and leave the thrash for LAWMA. Even the borehole thief ex governor was far more innovative than this

Don't you agree with me FarahAideed Raccon NaijaMutant Bridget95

Healthserve, stop talking nonsense.

Sanwo-olu isn't fit for creative leadership but it's you who has never engaged in a profitable enterprise that now understands creative leadership?

There's something called Waste Police which was introduced by Fashola, they took care of miscreants like this and arrested those disposing refuse illegally. I'm sure you are ignorant of this.

Next time, you shut up your mouth and think.

prolifik83:
verify information before you comment, go online and see for yourself.

Are you sure you have an idea of what you're selling?

Rubbiish:
He is not ranting!
Is this checkiaut alternate moniker??
Please sound reasonable
Don't u know the op reputation is at stake??
7 days is more than a enough to terminate someone's job.
Please if u have nothing reasonable to say shut up!

You're very daft and bereft of commonsense.

I'm not only his alternate, you can call me Chekitaut himself.
Since the OP has been ranting here, has he gotten his money?

I told the OP to drag Chekitaut to places that law enforcement agents would treat his fuk up and collect the money in full, you're here typing nonsense. Boy, better give yourself brain and stop talking nonsense here.

OP, you are taking this matter too lightly. Nairaland can't help you and Chekitaut obviously doesn't care about his reputation. Take him up and recover your money. No one ever recovered his money cos the culprit was dragged on Nairaland.

igbizen:
Your opinion though- not bidding on anyone.

Take a chill pill.
He never said it's binding on everyone.

chigo4u:
There’s no need continuing with this argument. At this point you have to believe whatever you choose to believe while I do mine. It’s very obvious you don’t want to learn. Gracias

Likewise.

Best of luck.
Bye.

chigo4u:

You were talking about people using grants to carry prostitutes and also people not being able to repay their loans in that post, maybe you should read again.
You also mentioned cbn taking the idea of blocking the loophole to other areas. Do you even understand the points you make here?

If my arguments fly over your head, I am not responsible for your inability to comprehend.

chigo4u:
Someone told you earlier that cbn does not have power to make criminal laws did you miss that?

Have you read the CBN Act? No. You're relying on hearsay and incorrect information. Have you ever heard of delegated legislation?

Read the CBN Act as well as the BOFIA Act. They provide clarity as to the functions and powers of the CBN.
Read sections 30 and 33 of the CBN Act.
They can make regulations and ascribe criminal liability to defaulters.

OyiboOyibo:
Below is the full list of states and their HIV prevalence rate.
States
HIV prevalence (%)
Abia 2.1
Adamawa 1.2
Akwa Ibom 5.5
Anambra 2.4
Bauchi 0.5
Bayelsa 1.9
Benue 5.3
Borno 1.2
Cross River 2
Delta 1.9
Ebonyi 0.8
Edo 1.9
Ekiti 0.8
Enugu 2.0
Gombe 1.3
Imo 1.8
Jigawa 0.3
Kaduna 1.1
Kano 0.6
Katsina 0.3
Kebbi 0.6
Kogi 0.9
Kwara 1.0
Lagos 1.4
Nassarawa 2.0
Niger 0.7
Ogun 1.6
Ondo 1.1
Osun 0.9
Oyo 0.9
Plateau 1.6
Rivers 3.8
Sokoto 0.4
Taraba 2.9
Yobe 0.4
Zamfara 0.5
FCT 1.6
HIV prevalence rate according to Zones
Zones HIV prevalence (%)
South-South 3.1
South-East 1.9
South-West 1.2
North-Central 2.1
North-West 0.6
North-East 1.1

Funny guy. Listing alphabetically instead of according to prevalence.

No. 5 in Nigeria
Here is the source
https://paradisenews.ng/38071/cross-river-5th-hiv-prevalent-state

chigo4u:
Someone using loan to buy tbills and someone unable to repay his loans, is it same thing? Oga you no get talk biko

Which loan?
Regular loans by financial institutions or this special Anchor Borrowers loan that is the subject of discussion?

Or you think they are the same thing?

That's why I told you to stop analysing issues like a petty trader.

chigo4u:
Millions of people have been convicted for drug offenses in Nigeria, the law against carrying drugs is very explicit. Stop comparing apple and oranges.
These are entirely two different things. Stop arguing blindly

But the law against diversion of agric loans isn't explicit until they write it in your native language, abi?

You said if it was a crime, they'll be arrested. I pointed out examples of narcotics and traffic offences. Offenders aren't deterred.

EmptyCoconutHead:
and ur state is number what?
u better shut that gutter u call mouth.
unam ikot

Don't argue against facts.
Your state has a huge HIV prevalence. Your rants are ignored.

You forgot to post the price.

Cross River state is no. 5 in HIV prevalence in Nigeria.

RIP in advance to those who would accept the foolish offers.

Fhemmmy:
Here is the objective of Anchor, lets figure it out together:
Increase banks’ financing to the agricultural sector
 Reduce agricultural commodity importation and
conserve external reserves
 Increase capacity utilization of agricultural firms
 Create new generation of farmers/entrepreneurs and
employment
 Deepen the cashless policy and financial inclusion
 Reduce the level of poverty among smallholder farmers
 Assist rural smallholder farmers to grow from subsistence
to commercial production levels

You haven't answered the questions.

Is the Anchor borrowers program a grant or a loan?
Do the regulations which govern the program penalise diversion or not?
The contract you sign before accessing the funds, does it state the purpose and conditions of grant or not?

igbizen:
Are you reading people’s comment at all, or you are just blinded with your own side of the discus. This thing was quietly going on for years until it was invaded nation wide- that was when it became immoral or illegal according to you. My point is if few people had continued doing it and govt was getting a sizable tax, they won’t revise any shit. Same with this topic we are discussing. They should stop blocking people from investing in Tbill and arrest them instead, that’s when it becomes illegal. Pls try and understand other people’s view.

Okay

chigo4u:
You always end up confusing yourself because to be frank you don’t have any point, you have left the main issue now to talk about people who couldn’t repay their loans

You obviously still don't understand what I'm saying.

Even if it means using drawing stones and sticks to explain it to you, I'm willing to.

chigo4u:
If it’s a fraud arrest them and take the to court, it will not be a fraud because you decide it is. Most of you calling it fraud would still engage in it if you had the opportunity. That’s the typical Nigerian self righteous hypocrite for you

Carrying drugs is illegal. Does it stop people from carrying drugs?

The fact that people pass one-way and don't get arrested doesn't mean one-way driving is illegal.

You lack the capacity to state what is legal or illegal, that's the function of the regulators. They have stated what is illegal in their regulations.

If you are ignorant of that fact or you want to be a scapegoat to test the spirit and letters of the law, that is entirely a different ball game.

igbizen:
And mind you while I was enjoying it for the first year, some of my colleagues were like it is illegal, you will be arrested. It was too late when they discovered that it was actually legal. They only did for two months b4 the policy was revised. Meanwhile some of us don use an buy land and other things... be there shouting it is illegal

Why did you stop? You should have continued so that you can test the regulations na.

As at when you engaged in that act, there was no regulation against that act.
As at then /when the Anchor Borrowers Scheme was established in 2016, there have been regulations against diversion.

The same way the regulatory body put in rules against that act is the same way the regulatory body of the Anchor Borrowers Scheme put in rules to stop people like you from diverting funds.

zamirikpo:
FRAUD......its simple fraud.
Even the banks are involved because their are certain requirements and follow ups that should be done. But they compromise.

Agric loan is Agric loan. By the letters of the law.

All this people talking about whether it's a loophole, illegal or immoral are the same people that voted bubu.

That's how one man used grants given to him for research to be carrying prostitutes.

Some people think they are smart, until they get into trouble and use all they've made to fund litigation.

This idea of not allowing debtors buy Tbills, they would soon extend it to several areas. That's when you would see that bankruptcy laws are very much active in Nigeria.

When your loan term has expired and the loan remains unpaid or unserviced, when can't buy fuel with your ATM card, people would start understanding that actions have consequences.

LSETF by Lagos State Government gave billions of Naira in loans to entrepreneurs in Lagos. As at today, they have more than 3,100 defaulters. Lots of the people got loans of around 5M each.

Fhemmmy:
Before we can condemn all these in entirety, we will need to read the fine prints, but them, how much fine prints do we have in Nigeria, because what "Unauthorized" mean to one might not be what it meant to other, but it will be defined by those that made the law . . . .We can't and shouldn't knock people based on half baked facts . . . .Do the fine prints list what are unauthorized?
If i apply for an 100M Naira agricultural loan and i am given, invested 50M into agriculture while the rest goes into Tbills, have i done something illegal and unauthorized?

So, what you are asking is if diverting part of the funds is illegal?

Why don't you read the regulations yourself since you don't agree with what I posted.

Fhemmmy:
BDC is to facilitate trading, business and economy, is selling to terrorist any of the aforementioned? I think we are comparing apple to banana, not even orange

So, why are BDCs compelled to comply with CFT regulations?

Have you ever seen a BDC licence sef?

RUGAgbuogidia1:
Why post only Proforce products? I thought u mentioned Innoson

Those military trucks are produced by Innoson. You can't even recognise what you're fighting for.

Fhemmmy:
There is a huge difference between grant and loan, if you given a loan, the giver is more interested in repayment and not the usage .... while great to use for purposes of securing the loan, a good business person knows when and what to invest in.

Let me ask you, is the Anchor borrowers program a grant or a loan?
Do the regulations which govern the program penalise diversion or not?
The contract you sign before accessing the funds, does it state the purpose and conditions of grant or not?

igbizen:
Do you know why it’s done that way, because the guy wants to pay minimum tax. Did he go there because of business transaction, no! He tries to evade tax by using tax avoidance. Guys stop all these illegal sh*ts. The loophole was provided and people used it. Otherwise if it’s illegal they would have been prosecuted by now, instead they are trying to close the loophole- be wise!

Did you see the CBN regulations I posted in the previous page?
Did you see where they wrote prosecution there?
Can they prosecute you for something that is not illegal?

Don't carry private sector ideas into government business. They are different scenarios entirely. Hillary Clinton was nearly boiled alive cos she used her private emails for government business.

igbizen:
Loopholes are tricky. Imagine a US investor, because it is in the law that when you travel for investment purposes and have a proof of such transactions then you can include such expenses under company expenses. So what he does is whenever he goes for his yearly vacation, two to three days to come back he does a business transaction and ties all the vacation expenses to business expenses. So my question, according to this trending discussion, is it immoral or illegal? �

Private company, no problem. It's part of your company expenses. That's why I was saying that private sector expenses would be deemed fraudulent in the public sector.

We are talking about government funds here. Understand the difference. That's why I told the other guy that he should not carry petty trading mentality into government business. The regulations there are stricter.

Ordinary using your private email for government business can cause you serious problems.

Donbrig:
Tax evasion is a crime, while tax avoidance in not a crime. Lol, you guys are becoming too informed and educated in this forum, too much of everything is bad Ohhh.

Do you understand the difference between tax evasion and tax avoidance?

igbizen:
I love every bit of this write-up. A friends company today gives loans to staff every four years to purchase cars, but staff rather invest it and manage their old cars. So is that illegal?

Are the funds government funds?
You are comparing loans by a private company to its employees with government money disbursed and regulated by the CBN.

If you obtain a facility from a bank for business, you can use it to marry a new wife or flex, provided you pay back, no problem.

What we are talking about is not your regular loan, but the Anchor borrowers loan. There is a reason why the rate is in single digits as opposed to double digits.

Sirnuel:
I am suspecting guilty conscience, he has probably collected bribe but his conscience would not allow him deliver wrong judgement

His conscience allowed him collect bribe, but his conscience didn't allow him pervert justice.

You too reason am. Is that a sensible statement?

Apitch:
Nothing is illegal about using loan to do TB, Before now(that's if it's still not happening), these banks approach you to give you loan, whether you need it or not and they will term it expansion of your biz, knowing that you are capable of paying back. I've seen plenty of it and it's not illegal, everybody is playing safe but due to over subscription, they want to put an end to it.
Once upon a time, your TB cert can be used as a collateral. Tell me it was illegal too

You can collect bank loans at 25% to do Tbills at 13%, that's your loss. However, we are talking about the CBN anchor borrowers scheme.

I posted the regulations guiding it. You run foul, you're penalised.

chigo4u:
It’s also just like someone getting BDC license from cbn and selling to another person. Is it stealing? I can list several similar instances of these

Is it government money they used to float the BDC or which kind watery example be this? Different sectors, different regulations, same regulator. Is that too hard for you to comprehend?

I think I now perfectly understand your point of view. You see things from a basic trading perspective as in buying and selling. You don't factor in regulatory compliance . Don't carry that mentality into regulated businesses and sectors.

You don't just buy the BDC license, you acquire the underlying legal entity. It involves change of directors, secretary, CBN's approval, etc. I have a colleague who just acquired a microfinance license for a fintech after the back and forth with CBN. You think it's like buying spare part in Ochanja market or Ladipo? Okay na.

Go and sell BDC to someone who gets involved in terrorism financing. Your last seen on Nairaland go long like anything.

chigo4u:
What laws makes it illegal? While haven’t cbn seized those monies instead of now regulating it since it’s illegal?

Stop talking about what you don't know, it's been illegal since the scheme started in 2016.

The CBN's Regulation, specifically the Anchor Borrowers Guidelines as regards the Anchor Borrowers Scheme regulates it. See the attached pictures, those are the penalties for diversion both by disbursing institutions and loan beneficiaries.

Maybe your next argument would be that diversion of funds is immoral but not illegal.

chigo4u:
You ended up making it about your self and your integrity so that’s why we said it is immoral and not illegal!
Tax evasion is a crime, tax avoidance is not?

Anyway tax avoidance or whatever you call it is also immoral

And please these are loans that are repayable, it does not mean they get the money for free!

You obviously don't understand what I've been saying.

You're arguing that it is immoral and I'm telling you that based on our laws, it is fraudulent and illegal. Or is fraud immoral but not illegal?