Don't blame Buhari this time

Nigerians have bad attitude towards repayment. Right from the so called big men to the common folks on the street.

Very bad of the bank. There are more salient ways of recovering bad loans without engaging in acts of criminality. The officials involved in this nefarious act should be arrested and prosecuted. It would serve as a deterrent to other Mfb's that still engage in this primitive and callous method of recovering funds from defaulters.

Maxymilliano:
I believe there are terms and conditions attached to the loan which obviously she skipped while appending her signature to the loan application.

Default in loan repayment comes with penalties, while in equal vein, detaining the debtor without any legal pronouncement is against the law, as the company could be held liable for kidnapping/abduction.

Most microfinance banks are barely surviving the harsh business clime

So, kidnapping is a consequence of loan default?

There is poverty in the land unfortunately.

vibre:
So premium times can't just pay the money and let the woman go home. Instead they are only interested in writing story

You are wicked

Is Premium Times a charity organization?

See country

K

Very painful.Poverty is a bad thing.

How can I get her number so I offset the debt for her.

Maxymilliano:
I believe there are terms and conditions attached to the loan which obviously she skipped while appending her signature to the loan application.

Default in loan repayment comes with penalties, while in equal vein, detaining the debtor without any legal pronouncement is against the law, as the company could be held liable for kidnapping/abduction.

Most microfinance banks are barely surviving the harsh business clime

But what if it was part of the T&C

People will think it should be overlooked but truth is everyone should always strive to repay a loan.

MrMcJay:
If the family of this woman can manage this issue very well, they would make a fortune from the stupidity of this Microfinance kidnapping institution.

A good lawyer will make fortune outa this. Cooperate organization taking the laws into their hands is oil well.

This is the type of case afe babalola ought to be chasing but he preferred to turn the law upside down.

It's well.



Check siggy

kestolove95:
21k abi 21milion? I don't get it"Abduct"

. since 21k is too small to u, then pay it on her behalf.

Arrant nonsense! on top 21k forward me her account details ASAP

MrMcJay:
If the family of this woman can manage this issue very well, they would make a fortune from the stupidity of this Microfinance kidnapping institution.

Theory!

idyllic2012:
How can I get her number so I offset the debt for her.

The most sensible comment here!!


Op, can you share her contact??

Beautifulgirl:
. since 21k is too small to u, then pay it on her behalf.

Women

vibre:
So premium times can't just pay the money and let the woman go home. Instead they are only interested in writing story

They are journalists and are doing their work, and not charity organization.

If they start meeting the delinquency obligations of everyone they write about, they will soon run out of business.

I need to help her.

eni4real:
The most sensible comment here!!


Op, can you share her contact??

idyllic2012:
I need to help her.

Op should do the needful!!

eni4real:
Women

. Woman? do u know that the staff that helped her to obtained that loan job may be in danger?

Let me give you expo ma'am.

Pay the 21k immediately then sue them for abduction, claim damages of #1million.

You have made a profit of 979k. Then pay your lawyer a 100k.

Don't thank me, I do this out of love

Omihanifa:
Set awon sokoloan how can the bank detain her because of 21k

those soko loan people are bastards.. my brother collected loan from tnem one time.. 14k.. they sent messages to almost all his contacts.. even called my threatening

Kingpele:
. Why seek for loan when u don't know how to invest it in other to yield dividends, if u don't have a workable plan please don't take a loan, What u can't give yourself before the loan don't do it when u get the loan cos is not even your money... Practice finicial discipline if u wanna grow your money...

You haven't tasted life. I pray you should so that you can understand the pains of the woman.

Roon9:
Hmm.. Which way Naija



For just 135k you could get a 1kva Inverter, 100AH rugged deep cycle battery, 150w panel and a 30A controller + installation. The system would serve 10hrs daily on basic loadings. Call on us now!

Can it carry fridge ? I need a budget on what can carry fridge, 4 bulbs, fan, tv and dst tv decoder . Solar preferably

In March 2014 I took two loans from first a lady that was introduced to me by my neighbor (500k) and another FCMB bank staff (500k) at 20% interest each.

Business was doing fine so no issues paying interest (100k x 2) every month.

I religiously paid interest for good 11 months ( 1.1m) capital not included separately to both women . (2.2m)

Then business started suffering after some few contracts that didn't go well.

Before the end of the 12th month, i quietly approached creditors to re-negotiate loan payment that there was fire on the mountain but they refused and started threatening fire and brimstone.

The first lady took matters more seriously at first and this was how it went;

Lady 1 started threats of kidnap etc. Anytime my phone rang, it was either lady 1 or her hired impostors raining threats because she later started saying the money she gave me belonged to a cooperative society.
At one time, a man claiming to be a very senior army officer and husband to one of the women I collected their cooperative society money called to threaten me and I quietly told him I did not have any financial transaction directly with him, his wife or any cooperative society for that matter since from day one, the women i collected loan from never mentioned any cooperative society or any name close to it in our transaction. I told him my phone had an automatic recorder and that I'd recorded our conversation for future use after listening to all his threats and he immediately hung the call.
One day, some group of men and women stormed my office claiming they were members of an unnamed cooperative society and demanded for their monies immediately.

They gave me three options;
1. Their money in full 800k (by this time we were in the 13th or 14th month in arrears)
2. That I gently followed them to only God knows where
3. I issued them a cheque which should clear the very next day.


Well at this point, I knew i had no other option than to also play smart.
I agreed to option 3
As soon as they left, I wrote a letter to my bank instructing them not to honor the issued cheque.
I also ensured I had my acknowledgment copy stamped received from the bank.
I knew they wanted to present it and later claim i issued a dud cheque.


Then I called my lawyer.
We wrote a petition to the CP alleging threat to life etc

By the next day, they went to the bank and the bank turned them down.

They called again with further threats
Few day later, they got a call from the police inviting them over concerning the transaction and my petition. They all ran only woman i transacted with couldn't escape. (I included all mobile numbers that'd called me in the petition). As soon as they heard Police, all their lines became unreachable or switched off.


Appointment day at the police came and lady 1 also came with a female lawyer.

After reading my petition to them and writing their own statement, they admitted there was a financial transaction and when asked to produce their cooperative society details and license, they also admitted that they didn't belong to any cooperative society and therefore not licensed.

They also admitted their threats but claimed it was only to scare me. INTERVIEW CLOSED...!!!

The Police immediately started preparing papers to transfer matters to Court after confirming the whole truth and called them wicked after collecting over 200% of their money.

They attempted to bribe OC but he refused (i respected the NPF from that day) he was so upset and felt so sorry for me.

Woman was on her knee crying and calling her Pastor Husband who refused to show face.
Female lawyer couldn't say a word at a point. She just carried chair and sat down.

I went outside with My lawyer and pleaded with him to speak to OC that we were not interested in pursing case in court.
That we wanted to just save my head, unmasked the identities of the ones threatening me etc

That all we wanted was re-negotiation of loan and nothing more.
20% Interest should stop and we pay the capital only and case close

OC shouted at me 'Oh so you want to still pay them abi?
Young man if you don't know what to do with your hard earn money you can take it to the motherless home ok?


Finally, we settled that we should all go and that I'd paid enough I shouldn't be compelled to pay any dime anymore but If I wished to, it was at my own stead. If they called me again concerning the transaction or threaten me then I should report back to the station.

They never called again and on my own, I paid them 200k to make peace.
They later told me they had to path with 100k to bail her from the station.

prekumohtim:


Can it carry fridge ?

Lol! No sir

Nawa someone should reach out to her

Globalruns Group can bail her with the funds.

Powersurge:
Nigerians have bad attitude towards repayment. Right from the so called big men to the common folks on the street.

Aswear down!