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Are Micro Lenders Really Diabolic? - Business - Nairaland

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World Kustomers Shares What They Think About The Future Of Micro-lenders Nigeria / FG Clamps Down On Online Money Lenders Over Breach Of Customer's Rights / ‘Breasts On Lantern’: Agonies Of Borrowers Of Nigerian Micro-credit Loans (2) (3) (4)

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Are Micro Lenders Really Diabolic? by HisMajesty1(m): 6:50pm On Feb 24, 2020
Obviously, there's a proliferation of micro lenders in Nigeria today, particularly on the internet. They grant loans to salary earners and business people alike provided you supply certain details about yourself that probably are verified. The issue now is that i have been hearing stories that these people jinx ( or Jazz) their money. Once you borrow, you continue to borrow hopelessly without any plan to stop.
You become fixated in borrowing their loans to literally survive and you become a slave to sourcing for money to repay their loans to then borrow again while developing acute HBP in the process. I heard they use juju to cast spell on their funds and put people's names in their jinx dragnet. Any clarification, objection or information will be appreciated.
Re: Are Micro Lenders Really Diabolic? by HisMajesty1(m): 6:57pm On Feb 24, 2020
Lemme add that a cousin of mine who once worked with a popular micro-finance bank in Nigeria whose headquarters is in the South-Southern part of the country said his branch manager once told him that most micro-finance banks take their cash infront of deities to cast spells that will keep any borrower in perpetual business with them. You can't stop borrowing even if you want to stop.
Re: Are Micro Lenders Really Diabolic? by Omihanifa: 7:57pm On Feb 24, 2020
I don't know about them been diabolic but as regards the issue of struggling to pay back Thier loans it's as a result of these reasons

* Very high interest rate ( most of these fintechs) charges high rates on their loans eg (sokoloan and renmoney) imagine borrowing 5k to pay back 8k in 15days undecided and 350k to pay back 500k.

* Most Nigerians live on assumptions ( they borrow believing when it's time to pay miracle will happen

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Re: Are Micro Lenders Really Diabolic? by hakeemhakeem(m): 3:28am On Feb 25, 2020
When come to registered mfb no I have 6years experience whatever money received from repayment was given out as loan on daily basis if the money wasn't enough a person will be send to withdraw cash at the Bank but when cashless was introduced we gives cheque to individuals and two loan official and the branch manager were signatory.
Re: Are Micro Lenders Really Diabolic? by laurel03(m): 3:47am On Feb 25, 2020
HisMajesty1:
Lemme add that a cousin of mine who once worked with a popular micro-finance bank in Nigeria whose headquarters is in the South-Southern part of the country said his branch manager once told him that most micro-finance banks take their cash infront of deities to cast spells that will keep any borrower in perpetual business with them. You can't stop borrowing even if you want to stop.
its a white lie .... let me tell you the truth Nigerians dont like paying back loan and many people collected the loan for no reason. Ok why is it that if you borrowed people money directly why do they find it difficult to pay back Abi personal money too is diabolic?

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Re: Are Micro Lenders Really Diabolic? by HisMajesty1(m): 4:34am On Feb 25, 2020
Omihanifa:
I don't know about them been diabolic but as regards the issue of struggling to pay back Thier loans it's as a result of these reasons

* Very high interest rate ( most of these fintechs) charges high rates on their loans eg (sokoloan and renmoney) imagine borrowing 5k to pay back 8k in 15days undecided and 350k to pay back 500k in
* Most Nigerians live on assumptions ( they borrow believing when it's time to pay miracle will happen

You have a point though, but there are people who can swear by the fact that there's some sort of diabolism in their operations. But then, what do I know?
Re: Are Micro Lenders Really Diabolic? by HisMajesty1(m): 4:36am On Feb 25, 2020
laurel03:
its a white lie .... let me tell you the truth Nigerians dont like paying back loan and many people collected the loan for no reason. Ok why is it that if you borrowed people money directly why do they find it difficult to pay back Abi personal money too is diabolic?
Then it definitely must be a payback problem. Nigerians really find it hard paying back money with the same energy and vibe they borrowed it with.
Re: Are Micro Lenders Really Diabolic? by Nobody: 12:40pm On Feb 25, 2020
HisMajesty1:

You a point though, but there are people who can swear by the fact that there's some sort of diabolism in their operations. But then, what do I know?

Don't be fooled, sokoloan is surely diabolical. It is a known fact. Pls, Pls and Pls stay away from it!!! They are set out to destroy and add misery to people's lives.
Re: Are Micro Lenders Really Diabolic? by HisMajesty1(m): 3:32pm On Feb 25, 2020
Rudewhitelondon:


Don't be fooled, sokoloan is surely diabolical. It is a known fact. Pls, Pls and Pls stay away from it!!! They are set out to destroy and add misery to people's lives.
Hmm... This is serious.
Re: Are Micro Lenders Really Diabolic? by Tijani009: 8:23am On May 11, 2023
HisMajesty1:

Then it definitely must be a payback problem. Nigerians really find it hard paying back money with the same energy and vibe they borrowed it with.
Somebody borroded money i was surpose to use as part of business from me because if his emergency, been 5 months up till never paid back, nigerians dont like paying back loans , but when i go ready for am, life go hard to he third generation

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