ahiboilandgas:
When taking out loans for business Dont spend from anticipated incomes or dont suddenly assume a new life style ...banks and finance house should train borrowers on this important aspect of financial managements which the black man lack ....

They don't have to train them, experienced loan officers know how to identify disciplined and frugal borrowers.

They can have an informed opinion about the borrower by observing your statement of account for the past 12 months

emmanuelewumi:



Please who gave him the zero interest loan? I need it

...is base on connections..truck dealers and transporters are a family.....i pick daf 95 xf for 8m from.Alh Bleep and credits and pay back 8m no interest....

We lend money to government. Politicians chop and issue more securities and take more loans to pay us. While the debt profile continues to rise to unsustainable levels until everything bursts in the future.

We give money to some fund managers that make some not so good investments (or tie up the funds in illiquid investments) but keep on marketing aggressively to raise more funds and liquidity to pay clients that are asking for their money now. Or beg clients to keep rolling over hoping to fix the issue before yawa gasses in the future.

We invest in the stocks of some companies with very questionable corporate governance practices (that many shareholders do not know about)but continue raising money to pay dividends. If people know the kind of accounting manipulation that go on in some of these companies, they will japa.

Then we have the NSE. We buy secondary shares but in order to make gains, we must sell to a sucker who must lose for us to make money. If this sucker is smart, he sells to another sucker. Somebody must win and somebody must lose.

My point is ponzi dey everywhere. If only people knew that some of their ‘correct’ investments are Ponzi schemes in disguise waiting to explode

emmanuelewumi:



They don't have to train them, experienced loan officers know how to identify disciplined and frugal borrowers.

They can have an informed opinion about the borrower by observing your statement of account for the past 12 months

not all ...IBplc loaned out 1bn naira (trading facility) to A.....resource ltd and observing the turn over from the firm accounts it ended in tears (2006)....seevral young oil marketer's got such facilites in 2006/7 .....Jag oil (10bn ) gtb ,rahammiya 40 bn , A resource 1 bn . AS .R 800M , IMAD 10BN and many more .....the loan officer needs training too ....

ahiboilandgas:
He couldn't not explain ....so we started checking all his payments.....2m advance for BMW.x3 ,1m advance payments for Peugeot 307 for wifey, 1m expense to brother for .marriage expense , 1m to cousin for marriage .....so I stop checking ....and concluded Nigga was forming rich and was outspending revenue ...

The problem is that most Nigerians always equate cash flow as profits. They think the account balance of the company is personal money.

Some years ago, a former colleague told us a story of his sister's poultry business. After his degree, he stayed with his sister while searching for a job. So he decided to help the sister manage the poultry business as she was complaining she was not making any returns from the poultry business. The guy decided to observe the business and discovered that the sister was always dashing uncles, aunts, church members etc eggs, chickens etc. At the end of the month, she will claim that there is no profit made. What did the guy do?. Anytime the sister tells him to give somebody any of the products, he will register it against her name. At the end of the month, he went to the sister and told her she is owing the business such an amount. The sister shouted saying that how can she be owing her own business. After further talks, the guy suggested an experiment of placing the sister on a salary or allowance and at the end of the month, there will be a net off of what she used as goodwill. After the first month, the sister's eyes were opened and from then onward, she became very careful is dashing out the poultry products.

emmanuelewumi:



They don't have to train them, experienced loan officers know how to identify disciplined and frugal borrowers.

They can have an informed opinion about the borrower by observing your statement of account for the past 12 months

The bolded is very true. Also, it is very rare to see business loans without adequate collateral or personal guarantees of the directors. In the past, yes. Today, not common.

The SEPLAT and Access issue would have been a one chance for Access if they were not smart enough to get the personal guarantees of Cardinal’s directors.

ahiboilandgas:
not all ...IBplc loaned out 1bn naira (trading facility) to A.....resource ltd and observing the turn over from the firm accounts it ended in tears (2006)....vral young oil marketer's got such facilites in 2006/7 .....Jag oil (10bn ) gtb ,rahammiya 40 bn , A resource 1 bn . AS .R 800M , IMAD 10BN and many more ...the loan officer needs training too ....

Insiders abuse, nothing more than that.

Lazyyouth4u:


Boss, we lend money to government. Politicians chop and issue more securities and take more loans to pay us. While the debt profile continues to rise to unsustainable levels until everything bursts in the future.

We give money to some fund managers (no names mentioned o) that make some not so good investments (or tie up the funds in illiquid investments) but keep on marketing aggressively to raise more funds and liquidity to pay clients that are asking for their money now. Or beg clients to keep rolling over hoping to fix the issue before yawa gasses in the future.

We invest in the stocks of some companies with very questionable corporate governance practices (that many shareholders do not know about)but continue raising money to pay dividends. If people know the kind of accounting manipulation that go on in some of these companies, they will japa.

Then we have the NSE. We buy secondary shares but in order to make gains, we must sell to a sucker who must lose for us to make money. If this sucker is smart, he sells to another sucker. Somebody must win and somebody must lose.

My point is ponzi dey everywhere. Some Ponzi schemes are carried out by people in correct Armani suit with all kinds of educational qualifications so we hail them and continue to be fooled until kassala burst. Meanwhile, na the same ponzi dem dey run with our yahoo yahoo ogas.

The way some people are excited about MBA inevitable collapse makes me feel like they were really considering investing in it but are very happy it didn’t work out or else they would have missed out on a profitable investment opportunity.

If only they knew that some of their correct investments are Ponzi schemes in disguise

Bolded text, just say Investment One with your chest.

Lazyyouth4u:


The bolded is very true. Also, it is very rare to see business loans without collateral or personal guarantees of the directors. In the past, yes. Today, not common.

The SEPLAT and Access issue would have been a one chance for Access if they were not smart enough to get the personal guarantees of Cardinal’s directors.

The chairman and CEO of Seplat are major shareholders of Cardinal.

I learnt the chairman of Seplat is the landlord of the head office of Seplat. Cardinal used the loan to execute a contract for Seplat.

Seplat chairman and his issues with Bank sha, few months ago he sold his shares worth N10 billion to pay debt incurred on a real estate Investment after the case was dragged to the court

ojesymsym:
Una wan go dash another country 135 million naira because of passport? It's okay

and will continue wailing

Grupo:


Bolded text, just say Investment One with your chest.

No na. Haba. There are so many fund managers in Naija na.

Lazyyouth4u:


I feel very sorry for any non-medical Nigerian professional that wants to leave his or her Naija job and ‘expatriate’ to the Caribbean Islands or Central/Latin America in search of greener pastures.

Even SA and UAE, if you don’t find a good job from Naija, no try to expatriate there to go find professional job o. Dubai even better sef. You go hear ween for SA

No mind them. i sorry for those earning in that bracket that wants to take the "expatriate advice"..."Advice is the only free thing one can give becos u dont use it"

emmanuelewumi:



Insiders abuse, nothing more than that.

JAG GLOBAL RESOURCES LTD
4,157,568,000
JAMILU ABUBAKAR
NONPERFORMING
30.....in 2006 I went visiting Jamilu in his v.i office and went on a cruise/boat ride with him I heared rumours that he now a billionare so i went there after the boat ride and I was about to go ...he gifted .me xXxX million i kept looking at the cheque in disbelieve.......the banks didnt have the expertise in oil and gas trading and where using random staffs that where coming from the regulated Ago markets to the liberalized one .which huge risk of price fluctuations....they fiance the importation of Ago in millions of dollars and when cargo arrive...crude oil have crashed and Ago price has half .....sell at a loss or keep to icur 10k usd demurage daily .....

The banks including the almighty Gtb with all their risk analysis could not see this coming .....zenon lost 50bn and otedola almost committed suicide......Jamilu now late also.. how did the huge human resource with tonne of accounting certification failed in risk analysis....poorly Manage bank (yes ) ...but Gtb .....so banker are not as smart as you think .....

Always resist the urge to shalaye on a faceless forum. Nobody cares. #audio

Everything goes well untill Ahib talks and then blood pressure goes high.

9jatriot:
Everything goes well untill Ahib talks and then blood pressure goes high.

theoritcal expirence is different from real life expirence.......we learn from real life expirence not long academic eassy .....been paraded

ABU suppose flog some ogas wey dey claim graduate of their institution sha. Correct flogging o

Lazyyouth4u:
Always resist the urge to shalaye on a faceless forum. Nobody cares. #audio

You are not a Lazyyouth4u but a productive youth full of insight and I will recommend you to members of Nigeria Parliament and Buhari to make you Minister of forensic and security investigation, I want you to dig deep into the past records of all the criminals in Nigeria( politicians and citizens with questionable wealth) from 1979 till date, all those found to have made Nigeria a cesspit of poverty and darkness, should be arrested, jailed and the keys thrown into the Atlantic Ocean

AngelicBeing:
You are not a Lazyyouth4u but a productive youth full of insight and I will recommend you to members of Nigeria Parliament and Buhari to make you Minister of forensic and security investigation, I want you to dig deep into the past records of all the criminals in Nigeria( politicians and citizens with questionable wealth) from 1979 till date, all those found to have made Nigeria a cesspit of poverty and darkness, should be arrested, jailed and the keys thrown into the Atlantic Ocean

Na you sabi

Nice

Goel:

Haryana

ahiboilandgas:
The banks including the almighty Gtb with all their risk analysis could not see this coming .....zenon lost 50bn and otedola almost committed suicide......Jamilu now late also.. how did the huge human resource with tonne of accounting certification failed in risk analysis....poorly Manage bank (yes ) ...but Gtb .....so banker are not as smart as you think .....

Very true.

Lazyyouth4u:
We lend money to government. Politicians chop and issue more securities and take more loans to pay us. While the debt profile continues to rise to unsustainable levels until everything bursts in the future.

We give money to some fund managers that make some not so good investments (or tie up the funds in illiquid investments) but keep on marketing aggressively to raise more funds and liquidity to pay clients that are asking for their money now. Or beg clients to keep rolling over hoping to fix the issue before yawa gasses in the future.

We invest in the stocks of some companies with very questionable corporate governance practices (that many shareholders do not know about)but continue raising money to pay dividends. If people know the kind of accounting manipulation that go on in some of these companies, they will japa.

Then we have the NSE. We buy secondary shares but in order to make gains, we must sell to a sucker who must lose for us to make money. If this sucker is smart, he sells to another sucker. Somebody must win and somebody must lose.

My point is ponzi dey everywhere. If only people knew that some of their ‘correct’ investments are Ponzi schemes in disguise waiting to explode

This is even done in the best compnaies in the world, so it aint no news in Nigeria

ahiboilandgas:
When taking out loans for business Dont spend from anticipated incomes or dont suddenly assume a new life style ...banks and finance house should train borrowers on this important aspect of financial managements which the black man lack ....

Bank will not do it

Are u are trader, transporter , importer , salary earner, finance expert , or investor .....write ups should be about your field .....not some endless long economic theories ......more of real life situation not some paper analysis ....how u invested Bleep millions in this and this are the out come , expirence and lesson learnt....

If writers must talk about immigration or not ....then write about your personal expirence migrating to canada not some theoritcal reasons .if u migrated and failed write about it , if it some one u know write about it ....if u can't create topic for discussion with real expirence then keep theories to the class room

Leezah:
Bank will not do it

that's why the have huge loan defaults .......

Ahiboilandgas I need to contact you pls?� Need your wise counsel asap

A person here converted 100k euro to invest i in fixed income around 2017 now convert back the person at 500+ resulted in huge loss .....this are the type of practical experience wanted , a factory owner wrote about how the Indians turn around his business.........this are lesson .....but long academic theories and yarn up on yarns make the thread a class room ....

megafaraday:
Ahiboilandgas I need to contact you pls?� Need your wise counsel asap

please write here too much players haters some good head they here ..i really cannot help u outside the forum any more.....

E be like say fight wan start inside this place.