Governance & Operational Guidelines
The policies, risk frameworks, internal controls, and disbursement rules governing JAM-Fortune Financial Services Ltd.
Lending & Receivable Standards
Our day-to-day operations are strictly bound by the agreements and guidelines approved by our board of stakeholders.
Loan Disbursement
Soft credit facilities are granted to prospective loanees if they meet the terms and conditions stated in the Loan Agreement/Application form, which must be duly signed by the applicant. Interest rates are determined by prevailing economic realities.
• Salary Earner / Paramilitary: Deductions made via direct source (salary). Rate: 5.5% to 7.5% per month depending on the establishment.
• Traders & Artisans: Collateral required (vehicle particulars, post-dated cheques, or land documents). Rate: 20% to 25%. Limit: N10m. Max duration: 6 months.
Account Receivable
Loan repayment must be receipted, and a receipt for the payment receivable must be issued, stating the exact amount paid and the outstanding balance, if any.
Note: If repayment of the loan is through bank transfer or by cheque deposit, the bank statement sent will serve as a receipt if any dispute arises.
Debt Recovery Guidelines
The firm shall use informal methodology and means for the recovery of outstanding loan debts where there is a default.
✔ Step 1: Knowing your customer's predicament
✔ Step 2: Persuasion & dialogue
✔ Step 3: Friendly approach & out-of-court settlement
✔ Step 4: Referral to constituted authorities (as final resort)
Legal Memorandums (MOU)
The firm shall leverage all financial service components as stated in our Memorandum of Association.
In Microfinance lending, our immediate constituency shall be civil servants and Nigerian Police Personnel, wherein a formal Memorandum of Understanding (MOU) has been established with such departments.
Statement of Account Requests
We prioritize records transparency. Customer’s personal ledgers and statements of account are generated and disclosed to customers upon written request.
To submit a request, clients can reach out via the official channels or apply through our Online Form.
Liquidity Controls & Risk Frameworks
Our financial frameworks assure creditors and stakeholders of absolute safety, complying with federal lending standards and ANMFIN regulations.
Cash & Liquidity Management
- Mandates regular cash forecasts (e.g., quarterly) to manage borrowings and idle cash.
- Includes daily monitoring of cash inflows and outflows to maintain liquidity ratios.
Bank Reconciliation Controls
- Requires daily matching of bank transactions against internal records.
- Enforces segregation of duties between the person preparing the reconciliation and the bank signatories.
Operational Risk Framework
- Establishes methods to identify, assess, and monitor risks arising from people, systems, or external events.
- Utilizes a Risk Matrix to prioritize high-probability/high-impact threats for urgent action.
- Employs Key Risk Indicators (KRIs) as early warning signs of potential losses.
Regulatory Compliance (AML/CFT & KYC)
- Mandates rigorous "Know Your Customer" (KYC) processes and ongoing transaction monitoring.
- Requires regular reporting of operational losses to senior management and regulators.
- Establishes clear delegation limits for expenditure and contract approvals.
- Ensures independent internal audits to verify that established controls are functioning as designed.
Administrative & Service-Specific Procedures
Our organizational stability relies on rigorous governance protocols spanning accounting, budgeting, HR and continuity plans.
Service-Specific Procedures
Banking & Loan Processing:
Defines account opening protocols to adhere to regulatory and data security standards. Outlines systematic creditworthiness checks for loan applicants, including income stability and past repayment history.
Budgeting & Planning
Planning begins at least three months before the fiscal year-end, engaging all department heads for revenue and expense assumptions. Templates are standardized to ensure reporting consistency across the organization.
Human Resources Operations
Guides the calculation of payroll, tax deductions and net pay issuance. To secure client funds, we mandate rigorous background checks for all employees placed in financial roles.
Business Continuity & Disaster Recovery
We mandate periodic testing of plans to ensure the firm can operate during severe disruptions, protecting both depositor records and active credit ledger lines.
Experienced Professionals Welcoming You Anytime
“At this end, Jam-Fortune Ltd welcomes you anytime. Our staff and top management are all experienced professionals, meeting all your financial needs with merit and polished integrity statutory effect in major priority growth of your business or investments, in order to build a global economy for our dear country.”
God Bless You. God Bless Jam-Fortune. God Bless Nigeria! 🇳🇬