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.

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.

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 and 350k to pay back 500k.

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

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.

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?

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 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?

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.

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.

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.

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