Dear fellow nairalander, the way many microfinance bank staffs humiliate there customers when there is default in the repayment needs to be checkmate by the government, most of the cases have heard, they usually acted like law enforcer, and take laws in there hand. Humiliate there creditor in his or her working place and even goes to his or her house to create nuisance, ‎
A similar experience was reported to me by a friend who happen to be a victim of a microfinance located in ajah lagos to be precisely, name withheld for now. ‎
My friend collected a loan of one million naira from them sometime arround March 2018,for the period of 6month, he was able to make the repayment for the first 3month without any delay, the forth month, business ware not forthcoming the way its expected, and the repayment was delay for like 12days, the man went to there office to explain they should give him small time for him to be able to raise the money, that same day, the vehicle he drove to there office was impounded, the vehicle was not belong to the man, neither use the vehicle as collateral for the loan, they went to his office carry some of the tools he uses to make production, despite written them official for either restructure of the loan or an extention. They went to his house shoulted on top of there voice, lies to his community members that the man his owe them morethan 2years n his owe them morethan one million, when actually the loan just elapse a month and the remaining ballance was just 208,000naira (two hundred and eight thousand naira)then.
The man recorded the way they came to his house, ransacking his house, all this happen with the supervision of the branch manager of the particular  microfinance in ajah.
Am attaching the video for the Nigeria to see. ‎
The man as alrady pay above the principal loan he collected, he had paid 1,170,000 naira(one million one hundred and seventy thousand naira) so far and there balance remain 158,000naira(one hundred and fifty eight thousand naira), they are still holding on to a vehicle that doesn't belong to the man.
The vehicle they forcefully and illegally  impounded is morethan one million naira in value. They even threatened to sell the vehicle then, to the extend of putting for sale on it inside there compound.
They have taken all the tools he uses for production in his factory, render him incapacitated so that he willnt be able to pay.
This is just one man story, so many people are suffering similar humiliation from this microfinance people.
Please note, amnt saying defaults in an agreement is justifiable but in a case where your lender is also making you incapacitate so that you willnt be able to pay the money. 
Government need to look in to the activities of all this micro finance bank.‎
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