NDIC will pay with interest based on verification. keep all your documents properly. it might take a year. I was in this same position years ago.Don't be afraid.

Give me a call am a legal practitioner.

I just perused through CBN and NDIC websites, alas, I didn't find the micro finance institution listed there.


Yes I was too non challant that I bothered less looking it up before making up my mind, a hard lesson for me.


At this point, I think ''self help'' would suffice.

[quote author=eezeribe post=55877067]Microfinance banks in Nigeria are worse than ponzi schemes.they disappear without notice.I would rather save my money in a saving box or piggy bank than patronise these one man businesses.
Next time,even if your twin brother or sister pressurises you into opening an account with a MFB,do not accept.

Apply.. .. .. .. .

There are still MFB that have proved their credit worthiness over the years, know one since 1995 and up till now there hasn't been any case like that.. So bro my only advise for you is that before putting your money in MFB try to know about them because it's very easy for them to WdUp.. . not all MFB are fraudulent.

dongidz:
Give me a call am a legal practitioner.

No offence, but really

Are u saying this happened just last month? Cuz there head office in ENUGU here is no more in existence since last year Dec

before you conclude on all Microfinance bank...... have you heard of LAPO Microfinance Bank?

Give me the gal number I will recover ur money for u

Cesc001:
this guy's has been operating since 2013 (that was actually when I knew about them) and were doing well, all this problem just started when they expanded into a micro finance bank

Eyaa, its just very unfortunate DAT it happened when you had a business with them.get a good lawyer if possible do some arrest. Your case is fightable unlike me that has ventured into an untraceable and unknown business.

ContAct CBN customer care email, do a quick Google with that. CBN will mandate them to answer your query urgently.

And i was thinking of taking my school fees, to deposit with them in a year...... thank you for this post, i have learned from your mistakes.

same thing Global Micro Finance Bank did to my brother here in Port Harcourt

well with the little xperience i have in microfinance cos i work with them. if any boss who has been present in a particular branch is no more available. either of these would have happened (1) either the man (owner) has absconded with people's money or (2) hes been tranfered from the branch. if the 2nd is ur case , he might not have enough time to talk to that ur friend cos he will be working tirelessly for the growth of the new branch he is. but if no is ur case, the only solution u need now is to get the man's number from that ur friend and then give it to another woman who can talk maturely like an elderly woman so that she would tell the man that she got his number through the people working with him in the branch and she requested to see the boss before she can invest a huge amount of money like that. through that u will know that the day u set ur eyes on the man is the day u will collect ur money with interest. my advise though

This is what you'll have to do...

Go to any of their branch or main office tomorrow and check if they have NDIC sticker on their door or anywhere... If they have, your money is safe, you just have to report to NDIC, if they don't (which I doubt they will considering what you just said)... Console yourself and move on cuz you have been scammed! The managerial staff and heads are all groups of scammers the field officers are just pawns used to achieve their aims.

Take heart bro.

jonero4:
CEO ksley mega vision NFB

I knew him from Adam
I can take you to his house in the village.

in Ezeagu?

Please Nairalanders where can I get loan of 30k,its really urgent. Wud pay in a month's time

HAVE ANYONE HARD OF (HASALM MFB) HERE IN ABUJA. I HAVE MY MONEY THERE. SHOULD I BE WORRIED ?

tiredface:
HAVE ANYONE HARD OF (HASALM MFB) HERE IN ABUJA. I HAVE MY MONEY THERE. SHOULD I BE WORRIED ?

Do a quick check on NDIC website. If you don't find them listed there, I'm afraid you will have to act fast!

@da3pu0 I appreciate your advise. Thanks

Tomjazzy2:
Hello all,

Please it happened that a friend who was employed by a micro finance bank in Port Harcourt earlier this year, Ksley Mega Vision Micro Finance Bank, Aba road branch, talked me into patronising them.

Honestly, I was a bit relunctant at first, but after much persuation from her, particularly after making me understand what she would stand to gain if I invested in them, I decided to give it a trial.



Suffice it to point out here that she said that once I start saving with them, I can not have access to any part of my money with them within three (3) months, after which I can then be paid my capital, and any accruable interest.



To cut long story short, its been more than three months now, but sadly, there is no hope in sight with regards to my capital alone, talk more of interests.

This friend was honest enough to have given me heads up with regards to her fears about the firm. She opened up some time last month and explained to me how she feared that customers may find it difficult collecting their monies when the time is due.


As we speak, the management of this micro finance have gone totally blank on their field workers. They have stopped communicating them like they used to. The only managerial staff in their branch office could be said to be a mere ceremonial manager, who neither knows her left from her right.


I have visited them severally concerning my money but the case seems hopeless. It's obvious from all observations and investigations that they currently lack the financial capacity to off set all liabilities. What is even more anoying is the seeming gap in communication between the main managerial staff-- all of which I understand have since travelled out of the state to God knows where-- and the field workers/marketers who are still very much accessable.




Please, what practical steps can I take in recovering my funds with this irresponsible micro finance bank? They claim to be registered (though I am yet to independtly verify this), but how can I verify this?

If they are indeed registered, isn't there a process I could follow to get my funds back?



Please, lawyers, financial experts, and any one who has experience in this kind of issue should help me profer possible solutions. Thanks




N/B: some friends have adviced I get the police involved and lock up the available marketers since they are all accessable, but I don't think that is the right thing to do.

go and report dem to NDIC u moni go cm out sharply,cos dem fear NDIC pass witch

Please gurus in the house I want to ask about shares gotten through private placement. KAJOLA to be precise. How do I go about getting my money back?. Can anyone tell me which body to call? Any help will be appreciated

So sorry for your loss. I just created a new account as a lawyer but unable to reply to this thread with that account. The below is my advice.

1. Get the company's full name and RC No. and do a corporate search from CAC. It will cost about N5-N10k including legal fees or more depending on the lawyer you approach. As at the last time i checked the required official fee paid to CAC is about N2k. But personally I wont collect anything less than N10k. The purpose of this search is to identify the people behind the company and their contact details, the last time they filed annual returns [which is proof of an ongoing concern (business)], the kind of business they were registered to operate in (eg. financial), etc.

2. If they are not registered with CAC (which i doubt), then your best bet is to go through the advice that someone gave about pretending to invest huge sum to fish out the Manager or better still go through the marketer.

3. If they are registered, check the last time they filed annual returns. Get the contact details of the Directors and first subscribers and follow up on that. Then you can decide to sue for recovery of funds. This involves litigation.

4. Alternatively, you can use Police (probably SFU). but let this be your last option because by law The Police is not saddled with the responsibility of recovering debt.

5. Whatever you do, try not apply force so that at the end of the day you and the police will not be sued for breach of someone's FHR. Because my brother, the law is could be (permit me to say) trickish.

I hope that helps in addition to other advice you intend applying.

I know somebody that lost more than 600k to this particular microfinance bank he he had told me early about his intention i would sound him the warnings, me if i hear micr.... 👼👼👼

sfinkzslot:
I know somebody that lost more than 600k to this particular microfinance bank he he had told me early about his intention i would sound him the warnings, me if i hear micr.... 👼👼👼

Wonderful

Just get your documents and go meet a lawyer. He wud help you even if u don't hav money u can agree on a percentage he wud get after u hav won d case coz it's not expensive suing at all those area courts n a lot of lawyers are waiting for that opportunity. The judge wud summon dem based on prooof of evidence n if d idiots refused to pay d court wud ask police to catch one of their cars o other property n sell. Even if it's police case and u dunno how to go o police is refusing to abide by d law contact me I wud giv u tips .FYI I'm in Abuja. All these nonsense wud stop if people learn to report these criminals
@Tomjazzy2

Cesc001:
in Ezeagu?

Please what happened to the guy you earlier mentioned?

The one that claimed to know the CEO to the village, I can't seem to find his monicker anywhere

Tomjazzy2:



Please what happened to the guy you earlier mentioned?

The one that claimed to know the CEO to the village, I can't seem to find his monicker anywhere

me too haven't heard from him

Cesc001:
me too haven't heard from him

Do you have any ideas where the man lives, especially his home address?

Tomjazzy2:



Do you have any ideas where the man lives, especially his home address?

he lives in Enugu