Digital Lending in Nigeria – FCCPC Guidelines 2024

Digital Lending in Nigeria - FCCPC Guidelines
Digital lending in Nigeria FCCPC Guidelines. There's no doubt that the world has gone digital. There has been a notable quantum leap in the advancement of technology. Digital lending in Nigeria has become the norm of the 21st century, but most people don't know what digital lending is, why it is important, or why you should be involved in it. In this article, we will discuss extensively what digital lending is. The most important aspect of this article will be our discussion of what the FCCPC guidelines are and how it affects digital lending in Nigeria. Stay tuned and pay close attention. Digital Lending in Nigeria Imagine you're stranded, and you need an urgent loan to seek out yourself or your family. Imagine you need a fast loan but don't have the collateral to take this loan from the bank; what would you have done in these...

5 Instant Loan Apps Without BVN in Nigeria (Updated 2024)

5 Instant Loan Apps Without BVN in Nigeria
It is easier to get a loan without collateral than without BVN. This has to a great extent created a lot of bottlenecks for persons seeking on how to apply for a loan in Nigeria. The Bank Verification Number (BVN) is a crucial and critical requirement for obtaining loan. The BVN is a special biometric screening and identification system used by banks to check and control unlawful and illegal financial activities. Following the Central Bank Of Nigeria Act 1958 which views BVN as a secured means of curbing financial crimes or fraud in the banking system, the BVN is unique to each citizen across all the banks in the country. Now here's the burning question, Can I Get Loan Without BVN? Yes, you can get instant loans without BVN. There are different applications and websites that offer instant loans without BVN. While some may just...

How to Start a Mini Importation Business in Nigeria

How to Start a Mini Importation Business in Nigeria
Starting a mini importation business in Nigeria can be an exciting venture that doesn't require a lot of resources. It's like buying goods from other countries, like China, and selling them here. In this guide, we'll break down the simple steps you need to follow to kickstart your own mini importation business. You'll learn how to find profitable products, order them, and sell them for a profit right here in Nigeria. What is Mini Importation? Mini importation refers to a business practice where individuals or small entrepreneurs import goods or products in relatively small quantities from foreign countries, typically China, to sell in their local markets. Unlike large-scale importation, mini importation involves smaller shipments and is often done by individuals or small businesses. It has become popular due to the ease of online sourcing,...

Real Estate Developer Loans in Nigeria Explained

Real estate developer loans in Nigeria are pivotal in fueling the growth and development of the country's real estate industry. As the demand for housing continues to rise, developers face the challenge of acquiring the necessary funds to bring their projects to fruition. This is where real estate developer loans come into play, offering a lifeline of financial support specifically designed for real estate companies and developers. These loans provide developers with the means to acquire land, construct residential housing estates, and develop the essential infrastructure needed within these communities. By unlocking access to capital, real estate developer loans serve as catalysts for progress, enabling developers to contribute to expanding the housing market and providing affordable housing options. Real estate is a time-honored and...

Outstanding Loan – Everything You Need to Know

outstanding loan
Have you ever come across the term "outstanding loan"? Well, fret not if it's new to you because we're here to break it down in a super easy-to-grasp way. Imagine you borrow money from a bank or a lender but haven't paid it all back yet. That's when your loan becomes "outstanding." It's like when you borrow your friend's cherished video game but haven't returned it. Until you hand it back, it remains "outstanding." This article will cover everything you need to know about an outstanding loan. What Is Outstanding Loan? An outstanding loan is basically a loan that you still have to repay. Imagine you borrow some money from a bank or a lender to buy something like a car or a house. Now, that borrowed amount is the loan. But here's the thing: you don't pay it all back at once. Instead, you make regular payments over a period of time. So, if...

How to Borrow Airtime From MTN in Nigeria

How to Borrow Airtime From MTN in Nigeria
Are you in dire need of airtime and don't know what to do? Look no further, as we bring you the solution you've been searching for. In this article, we will guide you through the simple steps on how to borrow airtime from MTN, one of the leading mobile network providers. Say goodbye to the hassle of running out of airtime, and say hello to uninterrupted communication with MTN's convenient borrowing feature. About MTN MTN, or Mobile Telecommunications Network, is a popular telecommunications provider that has operations in many nations in Africa and the Middle East. Thanks to its enormous network coverage and cutting-edge services, it has established itself as a household name in the telecoms sector. MTN provides its customers with voice calls, SMS, mobile data, mobile banking, value-added services, and many other services. Customers can...

First Edu Loan – What You Should Know

first edu loans
First Edu loan is a loan scheme specifically designed for school administrators and owners to help finance and grow their citadel. If you are a school owner who wants to know more about the First Bank First Edu loan, we encourage you to carefully read this article as we explain everything you need to know and how to apply. Overview Of First Bank First Bank Nigeria is one of the most popular and top-leading banks in Nigeria. It is well known as the apex bank of West Africa. It has existed since 1894 and has over 126 years of delivering top-notch financial services to individuals, businesses, and corporate bodies. They boast over 20 million customers with over 50 outlets in Nigeria. In their bid to serve their customers better, First Bank Nigeria drafted a lot of loan schemes to help individuals meet their needs, businesses, and...

Letter of Credit – Everything You Need To Know

letter of credit
One of the challenges faced by International traders is the issue of distance. Sometimes the buyer (importer) and the seller (exporter) may never get to see each other, and there is a need to ensure that each party gets whatever they bargained for, especially the seller. This is where a letter of credit comes into play. In this comprehensive article, we shall extensively discuss this important document, its importance, and everything you need to know. Keep reading! Overview A letter of credit (LC) is an important document ensuring the seller receives his or her payment. It is usually given by the buyer to the seller through the bank. With this letter, the buyer is rest assured that his payment is guaranteed both in due time and in the right amount. Most of the banks that help prepare this document charge a fee. This means that banks do...

Long Term Loans in Nigeria

long term loans in Nigeria
Long term loans are one of the three categories of loans (short, medium, and long-term) offered by banks and other financial institutions in Nigeria. It is worth noting that loans have been of great help to individuals and businesses in Nigeria. With loans, individuals can foot their bills while businesses can easily match up to the competition in the market. In this article, we will extensively discuss long-term loans in Nigeria, where to get them, and how to apply for long terms loans in Nigeria. Kindly read down. Overview Long term loans are loans that take a more extended period to get repaid. This means that it may take more than five years to repay long-term loans. To get a clearer picture, let's explain using a business. Business A needs funds to purchase plants and machinery and finance a project. Instead of waiting until...

How to Apply for Covid 19 Loan in Nigeria

How to Apply for Covid 19 Loan in Nigeria
The global economy has been profoundly affected by the far-reaching consequences of the COVID-19 pandemic, sparing no nation from its impact. Nigeria, like many other countries, has faced significant economic challenges. To alleviate the financial burden individuals and businesses face, the Nigerian government has introduced COVID-19 loans. In this article, we will guide you through applying for a COVID-19 loan in Nigeria, providing valuable information and steps to access this financial support during these challenging times. Who Is Eligible To Apply For COVID-19 Loans In Nigeria? Hospitality, which includes accommodation and food services Health (pharmaceuticals and medical supplies) Agricultural value chain activities Airline service providers Trading Manufacturing and value addition Any other income generating...