Nigerian Seminars and Trainings

Search all upcoming seminars, conferences, short management courses and training in Nigeria and around the World

business logo

Excessive Bank Charges Training: Calculation Techniques and Recovery Process

By: Tom Associates Training  

Lagos State, Nigeria

02 - 04 May, 2018  3 days

Follow Event

  

NGN 125,000

Most often, businesses do complain that accuracy of finance costs (Bank charges) to them is not clear or transparent.  The financial costs (bank charges) take prominence in amount in the annual audited financial statements. There are dangers inherent in allowing banks to burden organisations with arbitrary charges. 

This training is for finance staff of organizations to be able to calculate, ascertain and recover excess bank charges wherever they exist. Participants will also learn the process by which to make it impossible for a bank to debit their organizations' and personal accounts arbitrarily in the future. 

Many company executives think that the monthly bank reconciliation statements prepared by their staff are enough for the integrity of their bank account positions.  Some executives are even of the opinion that the statutory auditors would have taken care of this during the annual audits.  A bank reconciliation statement is merely aimed at agreeing the bank statement with the bank account kept by the company.  Calculation and Recovery of Excess Bank Charges require people to be specially trained.

Highlights

  • Advertent and inadvertent inflation of interest on granted facility by applying higher rates than agreed
  • Advertent and inadvertent delaying/suppressing of cash/cleared cheques until some days after lodgement
  • Haphazard arrangement of transactions on monthly bank statements value dates which  can make it virtually difficult for untrained customers to decipher excess charges on their own
  • Delays in effecting downward reviews of interest rates when applicable
  • Failure to credit customers' current accounts with interest on credit balances
  • Reporting process to the Financial Policy and Regulation Department of CBN and many more

Course Contents

Day One

  • Legislation Relating to Bank Interest and Fee Charges
  • Literatures reviews
  • Calculating Overdraft Interest Payments
  • Overdrawn Limit and the Implications
  • Calculating Loan Interest and Fees

Day Two

  • Charges on Short-term Finance
  • Charges on Equipment Lease Rentals and Fees
  • Charges on Commercial Papers
  • Accounts Having Credit Balances
  • Bank Statement and Value Date Order

Day Three

  • Pressing for refunds
  • Writing and Reporting Overcharges
  • Pressing for Refunds/Recovery.
  • Reporting Process to CBN Financial Policy and Regulation Department
  • How to avoid straining established banks cordial business relationships
  • Appreciation of Financial Cost Savings.
5/7 Alade Lawal Street, Off Ikorodu Road, Anthony Village, Lagos. May 02 - 04 May, 2018

Registration: 08:30:am - 09:00:am

Class Session: 09:00:am - 04:00:am

NGN 125,000.00
(Convert Currency)

Mr Abiodun Toki 08033019120

3 – 4 participants: 5% discount 5 or more participants: 10% discount
Related Courses
Key Account Managers Training Key Account Managers Training

4 days, 28 - 31 Jan, 2019 

2019-01-28 12:01:00
Lagos State, Nigeria

Tom Associates Training

Key-Account Managers Training teaches participants the relevant marketing, selling and relational skills needed today to grow and keep an Account for life. Managers of Key Accounts should be ever so ...

Building and Sustsaining a Succesful Enterprise Course Building and Sustsaining a Succesful Enterprise Course

4 days, 23 - 26 Nov, 2018 

2018-11-23 12:11:00
Lagos State, Nigeria

Tom Associates Training

This Building and Sustsaining a Succesful Enterprise Course represents the following Set right strategy Beat powerful competitors Get funding for new growth initiatives Be relentlessly innovative. ...

Hit the Ground Running as a New Manager: Get Fast on the Right Track Hit the Ground Running as a New Manager: Get Fast on the Right Track

4 days, 22 - 25 Jan, 2019 

2019-01-22 12:01:00
Lagos State, Nigeria

Tom Associates Training

Once a newly promoted manager earns a new level of authority and responsibility because of  technical skills, attitude and potential displayed, he/she must master different skills to help ...

Essentials of Sales Administration Course Essentials of Sales Administration Course

3 days, 23 - 25 Jan, 2019 

2019-01-23 12:01:00
Lagos State, Nigeria

Tom Associates Training

This Essentials of Sales Administration Course will discuss the following: DAY ONE Preparation of Sales Documentation Processing of orders Processing invoices for sales transactions Checking ...