…There are no banks inBANKING Nigeria, we have loan-sharks managed by MLS not MD’s.
MLS meaning – Money LAUNDERING specialists.
I have never seen a bank with a sustainable commercial banking policy.
The interest rates for instance is crazy…
A sign of lack of or little in terms of regulations.
If a lender is not exposed to risk why charge very high-interest rates?
Hey the borrower will only transfer his cost of borrowing to is customers and you have high inflation caused by the commercial banks.
Must people borrow with collateral, which is what pawnshops and loan sharks do.
While many just walk into banks and borrow because they know the MD who will get a percentage from a loan which will not be paid back, leaving bank customers to suffer the consequences.
MD’s just go into consumer savings without questions asked.
How on God’s earth can Elumelu be worth $4 billion or more dollars?
I guess while everyone was asleep at the wheels and buffoons running the country.
Look, at the moment we have a President of the Senate who ran a vibrant bank ( Societe Generale) to the ground, today he is one of the most vocal people in the country.