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Nairaland Forum / Nairaland / General / Business / Nigeria Takes Action Against Unregistered Online Money Lenders (13528 Views)
FG Clamps Down On Online Money Lenders Over Breach Of Customer's Rights / Online Loan Apps: 7 Digital Money Lenders Shut Down By FG / Why You May Lose Your Unregistered Online Business! (2) (3) (4)
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by Cutehector(m): 6:06am On Aug 23, 2022 |
EnglandAmaka:they do. I still get whatsapp messages. |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by GardenOfGod(m): 6:10am On Aug 23, 2022 |
Let me take your concerns issue-based.... 1. Yes they are the reason people take loan from them... Why? Because it is in human nature to be easily enticed and lured to simple and less stressful solutions to their enormous problems and challenges... Those fin tech companies made themselves a worthy avenue to lure them by their simple and stress-free method of issuing loans. 2. I can't blame the banks because banks are regulated by government. These loan companies are not regulated and that makes their activities illegal. No matter how legit a business transaction seems, if it is run illegally, it is against the laws of the land. They should be prosecuted for invading peoples privacy and using exorbitant interest rate against official CBN approved rates. That's my take. IamMobisola: 8 Likes |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by President2001(m): 6:14am On Aug 23, 2022 |
When are they going to clamp down on Jumia quick loan 1 Like |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by mprtuary: 6:52am On Aug 23, 2022 |
nairalee:stop forming oga. I believe u are also owing atleast a loan app 3 Likes 1 Share |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by IamMobisola(f): 6:53am On Aug 23, 2022 |
GardenOfGod: How about they take them out completely? |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by IamMobisola(f): 6:54am On Aug 23, 2022 |
mprtuary:Not everybody patronises loan apps especially when commercial banks are there 1 Like |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by DonBenny77(m): 6:57am On Aug 23, 2022 |
nairalee:Keep quiet the unregistered apps are illegal criminals, stop speaking of what you don't have experience. If someone give you a loan to repay in 7 days and starts harassing you with threats just after 5days. Messaging your family that you are a criminal on the run even before the loan defaults. They asked for it 7 Likes |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by nobilie: 7:06am On Aug 23, 2022 |
nairalee: For your information, it is criminal to charge not just high but ridiculous interest. "You" capitalised on the hunger in the land know that people will still come to access the loan out of durex. If people knew their right and have been sueing you, govt doing what it should, most of you loan comp shd be closed down and owners in jail. Is it right to blackmail a lender who borrowed say N4000 and request for and extention? I say "you" cos i believe you are one of them. You tell people that lender is a criminal (dont do business with him/her. In a country? 6 Likes 1 Share |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by IamMobisola(f): 7:09am On Aug 23, 2022 |
nobilie: Maybe federal government should close all loan apps for good. 2 Likes |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by Dharmiejoe(m): 7:12am On Aug 23, 2022 |
nairalee:I see you are an advocate for these criminal lenders. Just pray you don't experience a major emergency that will resort to taking their high interest loan for a short duration. Then you will see how friendly they are wen u don't pay on time. Opportunist company thriving on the impoverished state of the country to cause more hardship 5 Likes |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by watchindelta(m): 7:25am On Aug 23, 2022 |
Useless country with devilishly citizens. |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by nairalee(m): 7:27am On Aug 23, 2022 |
nobilie: On one hand you realize the importance of the apps in helping people in distress on another hand you want the companies to close down. I agreed the companies have their flaws but I insist the major problem is Nigerians and their bad attitudes. Even here on nairaland I've seen many brag that they'll collect loan with zero intention to pay back 1 Like 1 Share |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by danniyal(m): 7:27am On Aug 23, 2022 |
nairalee: Can you tell us why these Chinese companies you are trying to defend operates from hideouts without any physical location? 3 Likes |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by nairalee(m): 7:28am On Aug 23, 2022 |
Dharmiejoe: I agree with u they need to change some of their policies but we also need to rebuke Nigerians that apply for these loans with zero intention to pay back |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by nairalee(m): 7:29am On Aug 23, 2022 |
mprtuary: Kill the messenger. Ignore the message |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by proff010: 7:31am On Aug 23, 2022 |
They did embarrassed themselves not me oo because shishi am not paying them after contacting my contacts for a loan that is yet due. 4 Likes |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by danniyal(m): 7:34am On Aug 23, 2022 |
nairalee:Nigerians don't pay loan yet we have the largest concentration of loan sharks in the World with new ones coming up on playstore everyday 1 Like
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Re: Nigeria Takes Action Against Unregistered Online Money Lenders by danniyal(m): 7:38am On Aug 23, 2022 |
Most people trying to defend this illegally either don't fully understand the extent of the crime these Chinese men are committing or are employed by them. A single app has more than 600 agents according to reports 1 Like |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by vincentbravo(m): 7:47am On Aug 23, 2022 |
Some of them like AJELOAN will trick you by sending you an amount of money to your account without you applying for the loan. They will tell you that it's a system error disbursement and ask you to pay the money back with interest. Forceful loan under heavy duress. And if you don't pay interest, they will be threatening of sending messages to your contacts. Criminals. 1 Like |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by MrFollowFollow(m): 8:00am On Aug 23, 2022 |
kingsways: There is no loan company or Nigerian bank that charges a daily interest rate of 6%. Stop spreading lies |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by MrFollowFollow(m): 8:02am On Aug 23, 2022 |
danniyal: Those who borrow without intention to payback are the real criminals here! 1 Like |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by MrFollowFollow(m): 8:07am On Aug 23, 2022 |
danniyal: The reasons are as follows 1. Most of the work is done online so all the staff do not have to be in the same location 2. Disclosing their office location would mean that they would have to spend more money on security because most people would assume that they store a lot of cash in their offices just like most banks do |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by yeyebrity: 8:10am On Aug 23, 2022 |
Hmnn…Omoh, I was doing my own personal research and was alarmed by the number of loan apps we have on google play store. Most of them have no physical addresses and one company can run up to 5 loan apps. For instance, Cash Bean belongs to Palmcredit and they are both loan apps on google play store. Cash Dey operates in a manner that suggests they could be scammers. No website or physical address, no customer care to chat up and no email address. The only phone contact they have is a dead line. They have good reviews from other countries but users in Nigeria claim that after repayment, they will still keep deducting via the linked card. And since there is no means to contact them, you are left to your fate. The whole blame should be attributed to the incompetence of CBN. I am positive that some CBN workers have a stake in most of the loan apps. If not that, then how did they become licensed? 1 Like |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by MrFollowFollow(m): 8:25am On Aug 23, 2022 |
IamMobisola: You should tell the government to increase the quality of life so that it's citizens do not need to depend heavily on loans to augment their salary which has been rendered partially useless by runaway inflation! 1 Like |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by nobilie: 8:26am On Aug 23, 2022 |
nairalee: Loan business is big business everywhere in yhe world from ages till date. In early times, people give their children as slaves when they are unable to repay loan. But that was then. If properly regulated, those ready and willing to work by the rules will remain and make big money. Do u kmow how much telecom coys are making from borrowed credit/data? The amount is huuuuuge. Borrowing is not a "bad" thing as people have biz ideas needing money to execute. Govt is borrowing, banks and even this evil online loan companies borrow from banks. See, people are very very hungry in Nigeria. They collect salary to repay loan and borrow again. People must borrow and it is more in troubled countries with bad leadership. Nigeria will soon be reformed and a better nation emerge. 3 Likes |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by danniyal(m): 8:32am On Aug 23, 2022 |
MrFollowFollow: I didn't ask you pls. I am done arguing with you, Go and continue your loan shark work. I wish you all the best |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by danngnews: 8:33am On Aug 23, 2022 |
EnglandAmaka: Who told you that? |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by MrFollowFollow(m): 8:37am On Aug 23, 2022 |
danniyal: I did not reply for your benefit alone, replied for the benefit of other people who do not know |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by danniyal(m): 8:39am On Aug 23, 2022 |
God will save Nigeria from these Chinese criminals 1 Like
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Re: Nigeria Takes Action Against Unregistered Online Money Lenders by floflo12: 8:43am On Aug 23, 2022 |
IamMobisola: Seems you work for one of the loan sharks or perhaps one of the owners. How many people with no salary accounts has been able to get loans from banks? 1 Like |
Re: Nigeria Takes Action Against Unregistered Online Money Lenders by danniyal(m): 8:44am On Aug 23, 2022 |
These are Nigerians,(our own brothers and sisters) the Chinese are using to destroy our economy. The country is in a mess and we all victims, the Chinese capitalised on that. You can never justify a crime. 2023 is here, let us all vote wisely. Nigeria will be great again 2 Likes
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Re: Nigeria Takes Action Against Unregistered Online Money Lenders by IamMobisola(f): 8:45am On Aug 23, 2022 |
floflo12:Lmao. So we aren't free to Air opinions again. Let FG shut down all the loan apps then, make everybody rest. |
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