David Hundeyin exposes banking malfeasance in our MBA Forex intervention suit
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On 28 June 2021, the Nigerian Securities and Exchange Commission, working with the Office of the Attorney-General of the Federation, secured a conviction (read court judgment and sentence here) of Bara Finance and Investment Limited for violating Section 54(6) of the Investment and Securities Act, 2007. No pronouncement was made by the court on the SEC’s request for […]
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I ended Part 1 of A – Z of Garnishee Proceedings at the point where the garnishee order nisi is served by a court bailiff. You need to get the timing right when it comes to serving the order nisi. You will need good intel if the garnishee is a bank. By law, once you serve a garnishee order nisi on a person who you allege is holding money belonging to a judgment debtor, that order only attaches the money in the hands of that person AT THE DATE AND TIME THE ORDER IS SERVED ON THAT PERSON. Learn more of the A – Z of Garn...
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In my last article on 8 Ways to Locate Missing Debtors (hyperlink article), I talked about using garnishee proceedings as a last resort when all other efforts have failed to produce the debtor. Let’s walk through the process together.
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Did you invest in MBA FOREX and your money is now stuck with no clear path to getting it back? There is hope.
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Most people in the Banking space are more familiar with KYC – Know Your Customer than KYD – Know Your Debtor! The task of loan recovery becomes a herculean task when and where the Debt Collector or Recovery Officer has little or no knowledge about the debtor. The effort put into loan recovery cannot fully […]
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There are ways of locating a missing debtor. Most recovery agencies have several debt collection tactics they use to recover debt more efficiently and overcome common payment issues. One of those tactics is called skip tracing.
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In over 25 years in the field of debt recovery in Nigeria, I have found that the most difficult debts to recover are consumer or individual-owned debts. Recovering money owed by a limited liability company is not too difficult if the company is still doing business. All it takes, usually, is getting the company name […]
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We see this scenario all too often – were marked “net 30 days” and, for the entire shale boom, they were always paid timely or at least within the next month. But now your customers are asking for net 60, 90, even 120 day schedules, which your company simply cannot float. This is the reality […]
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