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Nairaland Forum / Nairaland / General / Business / CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers (36318 Views)
12 Banks To Pay N499b CBN Fine For Loan Policy Breach / American ATM Dispenses 100$ To Customers Instead Of 20$ / MTN Nigeria Signs N200bn Loan Agreement With 12 Banks (2) (3) (4)
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Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by chukzyfcbb: 11:42pm On Oct 03, 2019 |
They prefer to give loans to FG and states via Bonds amd Tbills since GOVT won't default as much as these Customers, lol Goan Ask FirstBank how they fared with the Loans given to the Oil tycoons kola aluko and co ![]() I Can't blame them tho, that's why the Non performing Loan ratio of most them spiked over the years and almost got thier operations crumbing in addition to the implementation of tsa No be one of the reason Diamond merger happened ![]() No blame them mbok, money no dey the country to trust customers with loans ![]() 5 Likes 1 Share |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by TwoBottles: 11:44pm On Oct 03, 2019 |
docadams: Well, I've never heard about it. Besides; the interest rate is too high. 2 Likes |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by damola1: 11:45pm On Oct 03, 2019 |
How much be their profit if a bank lost 100b�� 3 Likes 1 Share |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by Kelvin30286063(m): 11:46pm On Oct 03, 2019 |
I'm particularly happy that GTB is among. They are the most stingy bank in Nigeria! I've been actively running 2 accounts with them for 12 years and I needed loan last month yet they refused me just because I'm not government worker. Does being a salary earner mean you have to work for a specific organization! I own my company so that doesn't make me a salary earner! Mad goats! 16 Likes 2 Shares |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by AgreatMan: 11:47pm On Oct 03, 2019 |
Nice |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by damola1: 11:47pm On Oct 03, 2019 |
Kelvin30286063: That’s why they started giving loans now o . Though to salary earners |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by buzorcharles(m): 11:49pm On Oct 03, 2019 |
1 Like |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by Kelvin30286063(m): 11:53pm On Oct 03, 2019 |
damola1:Well that's the problem, not everyone earns salary. Some of us own our own business. 4 Likes |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by AceVentura: 11:56pm On Oct 03, 2019 |
The right word is penalized/ sanctioned not fined. The money is only going to their cash reserve ratio (CRR). 5 Likes 1 Share |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by Boyooosa(m): 11:57pm On Oct 03, 2019 |
geesilver:Check d list agian and modify |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by Ashmark(m): 11:59pm On Oct 03, 2019 |
People are just here making comments. They don’t understand anything about the policy. It is not a loss to the Bank. The money will be taken from the banks deposit with CBN and when they comply it will be returned. 12 Likes 1 Share |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by streetfabulous: 11:59pm On Oct 03, 2019 |
It's not a FINE. Every bank has a cash reserve with CBN which is not available for use. CBN by statute reserves a percentage of banks total deposits. So CBN is saying banks must lend a minimum of 60% of their deposits. If the banks fail to meet this requirement, CBN will take more of the banks deposits to reserves. This will not favour those banks because cash reserves doesn't earn interest for the banks however the banks are still obliged to pay interest on these deposits to customers. As the banks meet or exceed the criteria, these funds will be released back to them. 21 Likes 2 Shares |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by Nobody: 12:00am On Oct 04, 2019 |
ezewealth:Requirements kee?? ![]() ![]() I just dialed *426*11# and them slap me the loan pronto... ![]() Now na how to pay back be the koko ![]() ![]() 5 Likes 1 Share |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by engrsyer(m): 12:01am On Oct 04, 2019 |
They better tell renmoney to stop collecting that their 35% interest 2 Likes |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by ehissi(m): 12:01am On Oct 04, 2019 |
TwoBottles: It was banks they said that they fined not Ajo or daily contribution biko...... 7 Likes 3 Shares |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by budaatum: 12:09am On Oct 04, 2019 |
ezewealth:Well, since they now have to beg you to take it or pay CBN fine, I see them lowering interest rates eventually. 3 Likes |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by SoNature(m): 12:10am On Oct 04, 2019 |
agarawu23: That's why they are called Investment banks You shouldn't be an ingrate Many banks will never do that 2 Likes |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by zimakod(m): 12:13am On Oct 04, 2019 |
Where is Polaris bank? |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by Agugbadin: 12:13am On Oct 04, 2019 |
This does not make any economic sense, what if you don't have genuine borrowers and the risk involved in lending to wrong persons. 1 Like 1 Share |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by adebopo: 12:23am On Oct 04, 2019 |
liohan:. I disagreed with you. I'm sure you know they can't charge interest on most loans as other banks. 1 Like 1 Share |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by highbee02: 12:32am On Oct 04, 2019 |
I wonder y STANBIC Ibtc is not in the list, they told me they were not giving loan when I approached them. |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by PlanBIncome(m): 12:33am On Oct 04, 2019 |
I operated my GTBank account for years with millions on annual turn over. I decided to ask for loan this year, guess what? They said they can only give loan to current account holder who have operated the account for at least one year. Some times I ask why we are so wicked to ourselves as a people in this country. These are banks that charge ridiculous fees for useless reasons yet can not offer loan to the customers they steal from. Thank you CBN for stealing it from them in other way. 4 Likes 2 Shares |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by leo1234(m): 12:34am On Oct 04, 2019 |
omonla10: Have you heard of GTB quick credit? You should be eligible for loan of 5 million without collateral if you actually make turnover of 10 million monthly. 6 Likes 1 Share |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by Solowiz(m): 12:38am On Oct 04, 2019 |
Omo see figures 1 Like 1 Share |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by businessnow: 12:38am On Oct 04, 2019 |
That i do not agree with you,i also bank with GTB and my turn over for a month is half of your turnover and i was able to get 4m in less than 3mins without talking to my account officer and the interest rate is %1.75 even though i did not need it i just wanted to see if there new Quick Credit loan offer works and it does. Talk to your account officer if you have a cooperate account. omonla10: 4 Likes 2 Shares |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by SenecaTheYonger: 12:41am On Oct 04, 2019 |
agarawu23: Lmfao. Them no wan chop fine. 1 Like |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by contigiency(m): 12:44am On Oct 04, 2019 |
I am fully in support of this fine, because these banks make it look like a no no and unimaginable seeking loan from them. You must be highly connected, know somebody who knows somebody, be a big player in your industry, ready to accept high interest rate they offer etc before they can con consider you eligible to be given loan. Even when the monetary and fiscal authority watchers makes money available through CBN to intervene in some sectors of the economy, these banks will still not give it to those people the money was meant for. 1 Like |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by KIDfurniture(m): 12:47am On Oct 04, 2019 |
My turn over is now 300 million .. they no send .. I go just use my statement get visa next year . omonla10: |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by businessnow: 1:05am On Oct 04, 2019 |
With your turn over embassy will beg you with Visa all you need is partnership or be a country representatives for a similar business outside of Nigeria, my company represent 2 different companies here in Nigeria they are from UK and France and that has take me to UK for business meetings more than 10times and France 4 times..i did not beg for the Visa the turn over did the job. KIDfurniture: 1 Like |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by Nobody: 1:06am On Oct 04, 2019 |
Commentor: Your comment didn't make any sense. If anyone understood you, the person should explain. At best, you described yourself, empty, without sense and hateful. When making comments on a public forum next time, ensure that you are imparting others with knowledge. 9 Likes |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by ASHLAND(m): 1:09am On Oct 04, 2019 |
That is exactly the trick. And there will be competition of interest rate among the banks budaatum: 3 Likes 2 Shares |
Re: CBN Fine 12 Banks N499b For Not Giving Out Loan To Customers by Nobody: 1:09am On Oct 04, 2019 |
When you need money, they won't give you, when you don't need money, they will be disturbing you to take. 1 Like |
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