raycomray: Money lending is a lucrative business in Delta State where I do part of my business. Money lenders here own a lot of landed property and other assets. But, they are generally viewed as Shylock business men. I was told that you dont need professional accounting or managerial skills. You only need a powerful JUJU/WITCH DOCTOR as your mentor or "Special Personal Assistant"-otherwise people you lend money to can "delete" you anytime.

-lanredo:
Thank you for your response. I have little experience in Banking, like 2yrs but with a community bank very lo time ago, I've little experience too in finance, revenue generation, consultancy etc. with some ability to keep financial/accounting records manually. And I'm a very good marketer apart from having HND in Banking & Finance with small proffessional exams CIBN PE II. With these small knowledge I'm sure with mannual I can float on the water!
So sir you can give me the basis.

Tcrack: are you serious at all? you want to lend money to nigerians. you will never get your money back.if you talk about project financing, that it understandable. but lening money. ol boy, you had better looked for a different line of business.

princey83:

LOL...they are in developed countries as well, they are called loan sharks - unsecured lending and their APR on loans is in the 2000's. They lend money to people with bad credit history. It's gonna be worse in naija.

Ty207: Nigerian don't call it money lender they call it micro-finance bank/soft loan lender and others!.....they lend out money to petty trader...i have one in my area that started 5years ago now they have over 200branches in Nigeria.....the business is highly profitable, if you want to succeed in that business stop calling it money lender cos Nigerian don't like hearing that name...
make it Advance

Ozedy: I am the president Standard Life ORganization. We empowered rural women financially and we have 100% repayment history. Though there is special method we adopt called group presure methodology but that is with special training. I would advise u to start as NGO where financial empowerment be one of the aim. This is so because to start as full flesh micro finance u will need alot to put in place and too much search light we be on u. Starting as NGO, you go to CAC to obtain avalability form where u search for ur proposed company name. Then u need to puplish the aim and objective of ur company in 2 national newspaper. U 'll get other details from CAC. Don't just be scared, it is a good business, most especially if you have the right training and knowlegde. Incase of inquiry call 07064950668.

-lanredo:

I must commend your comment...wonderful and helpful I thing I will work on your suggestion.I will like to discuss with you better pls expect my call or better pls let me have your email add

With the coming on stream of the various Credit Bureaus, the issue of unknowingly advancing loans to companies and individuals with bad credit has been larger taken care of. In Nigeria, I am not aware of any intentional lending to bad debtors except it is a loan restructuring.

Money lending aka loan sharks
It will never work in a country like Nigeria,
Reasons -:
Lack of companies that would credit check your customers
Lack of Proper electoral databases, to verify customers existence
Nigerian present framework does not allow for such
Etc etc etc