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Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion - Business (4) - Nairaland

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Data Protection Bureau Fines Soko Loans ₦‎50 Million For Data Breach / Soko Loan Has Finally Defamed Me (pictures) / Sokoloan Set To Shutdown, After Paying ₦10 Million NITDA Fine (2) (3) (4)

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Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by ttobizz(m): 1:27pm On Aug 19, 2021
pek:
If I told you I understand your write up, I would be lying

My man maybe a translator might help o. The guy must be a Taliban grin

1 Like

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by Mrlouis: 1:27pm On Aug 19, 2021
alarm4:
Pls do not fine paylater,quick check and Branch .....this App are good

But the rest of them below !!!
9credit,
Ncash,
Xcredit,
Haloocredit,
Easynaira,
Easycredit,
Cashlion,
Fastmoney-soko
Fastcash,
Gocash-soko
9ja cash-soko
Okash,
Lcredit
Palmcredit
All need to be fined 10b for damages of privacy invader

DEM SUPPOSE FINE YOUR ENGLISH TOO. KAI

1 Like

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by CYBERWEAVER(m): 1:29pm On Aug 19, 2021
grin

I get joy �
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by CYBERWEAVER(m): 1:29pm On Aug 19, 2021
I get joy �
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by Yewandequeen(f): 1:33pm On Aug 19, 2021
[quote author=alarm4 post=104958791][/quote] sowi.

The law suit is well deserved. I have gotten couple of messages too about people I don't even remember, probably my customers sha. I was very pissed tht I had to reply the message if they will redeem the person's image after the person eventually pays back. It's really a bad thing from them.
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by kelbranty(m): 1:33pm On Aug 19, 2021
Oyerinde16:
Nitda is wrong on this, Soko takes loan from people(investors) and banks in millions with heavy collateral, they break it down and give people without collateral, they gave the terms of the loan, you accept, they credit you, once you fail to honor the agreement, they have the right to enforce what you agreed in the terms. If you contact your account officer at soko loan before time, they will restructure the loan and give you more time, however if you fail to contact, acknowledge the reminders then they go ahead to your contacts. Its not their fault, they have loans and obligations to meet as well. Its not their fault that you are unfortunate not to honor what you agreed, if you had refused any of the terms during registration process, you will not get the loan, you checked agreed on all the box and still defaulted and don't want anyone to know you are owing, its just like someone defrauding a bank, when u are caught you now say nobody should know because they were not there when you defrauded them, my guy u n huspuppy have things in common.

I have only one question.
Does the contacts (I call them guarantors) on one's phone have any say in the loan process before it is disbursed, that is, do they have the right to say "that guy is a criminal, he won't pay back so don't give him loan. If you do, don't call me when he defaults"

3 Likes

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by kelbranty(m): 1:35pm On Aug 19, 2021
Beancounter94:


They messaged me. And like I said loan paid in three days. No need to contact guarantor

Thank God you paid o... They would have called you "criminal on the run" by now �
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by Hotstew(m): 1:35pm On Aug 19, 2021
Simeonjoe1:
How are we stealing people's contact?
But the customers read the terms and conditions before applying for loans.

Nigerians are always used to getting things free, they still want to ransack this one. Pls could we get our money back if we don't follow this due process.

Did you read the part where the people called are not a party to the loan?

3 Likes

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by Emeskhalifa(m): 1:38pm On Aug 19, 2021
revived:
Good
Very very good

These bast*rds go about defaming people because of useless amount they offer as loan.

Blame the oni gbese that refused to read their terms and conditions yet went ahead and clicked agreed simply coz he needed loan
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by TOPCRUISE(m): 1:38pm On Aug 19, 2021
This is good news to chronic debtors that borrow without intention to pay back
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by sonsomegrigbo: 1:39pm On Aug 19, 2021
Joysticks:
I think before one access their loan he/she might have seen their terms and conditions which is defamation,but the oni gbese will ignore to read it because he/she is desperate to access the loan.


Hope you have read terms and conditions of posting comments on Nairaland and other social media sites

2 Likes

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by EmmaLege: 1:40pm On Aug 19, 2021
ope oooo. werey people grin grin grin grin grin
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by Nobody: 1:40pm On Aug 19, 2021
Oyerinde16:
Nitda is wrong on this, Soko takes loan from people(investors) and banks in millions with heavy collateral, they break it down and give people without collateral, they gave the terms of the loan, you accept, they credit you, once you fail to honor the agreement, they have the right to enforce what you agreed in the terms. If you contact your account officer at soko loan before time, they will restructure the loan and give you more time, however if you fail to contact, acknowledge the reminders then they go ahead to your contacts. Its not their fault, they have loans and obligations to meet as well. Its not their fault that you are unfortunate not to honor what you agreed, if you had refused any of the terms during registration process, you will not get the loan, you checked agreed on all the box and still defaulted and don't want anyone to know you are owing, its just like someone defrauding a bank, when u are caught you now say nobody should know because they were not there when you defrauded them, my guy u n huspuppy have things in common.
if you think what they're doing is the right thing, then why didn't they win the case, the truth is there is government policy guiding every business sector in every country so ths loan companies cannot just formulate their terms N conditions without considering the guide lines given to them by the government.

The companies knows that what ever rules they give some must collect loan in Nigeria
Another reason is they know that there in little or no checks on business in nigeria,policies are made with little or no compliance.

8 Likes

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by seyz91(m): 1:42pm On Aug 19, 2021
cheesy
dudusky007:
Na so them send message give me say make I stay away from 1 mr john..... say na thief,him run with dia money and a criminal. I laf because I no say na dia way.. and to all those giving all this loan app ur bank personal details..your details is no longer personal. that's the reason you can receive unknown debit from unknown location
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by precioussamuel: 1:42pm On Aug 19, 2021
Useless set of people, they deserve worst..make God no allow me catch any of there workers I go beating change there ambition..

6 Likes

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by adelaja70(m): 1:42pm On Aug 19, 2021
Beancounter94:


Would the loan company have sent messages if they had it defaulted for some time.

I have defaulted twice in loans from Branch. Both times we cane to an understanding and the loan was paid off with 3 days of the deadline

Let people take loans when they know they have the means to pay them back ready. It is that simple. If someone did not pay you back on time would you keep quiet and allow him or her to continue? Or won't you make noise?
It's like you are trying to dodge the issue. With all the defamation of xters some will not pay and heaven will not fall. What happens to negotiating with the defaulters first before you assassinate his xter? Sokoloan don't do that...

9 Likes

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by Nobody: 1:42pm On Aug 19, 2021
Emeskhalifa:


Blame the oni gbese that refused to read their terms and conditions yet went ahead and clicked agreed simply coz he needed loan
but now the company has lost 10m for not following government regulations

1 Like

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by Nobody: 1:43pm On Aug 19, 2021
precioussamuel:
Useless set of people, they deserve worst..make God no allow me catch any of there workers I go beating change there ambition..
this one loud
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by MzBertty(f): 1:43pm On Aug 19, 2021
Solo loan can embarrass somebody anyhow.....my uncle borrowed money and used my number as guarantor...they sent toxic message and call(me I block their number sha)

1 Like

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by seyz91(m): 1:43pm On Aug 19, 2021
cheesy
post=104957570:
Good for them for their sometimes overzealousness and at the same time, our citizens should learn how to pay the debt they borrowed at due time.

Some borrow with the mind of never wanting to pay back their loan.
Criminal attitude, you see their comments online here like
"Me, I go just borrow and throw away the SIM CARD for life, they will never find me or locate me"
Just imagine that!
Even things as small as MTN #100 recharge card.
Sick attitude.

Be the CHANGE you wanna see.
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by seyz91(m): 1:44pm On Aug 19, 2021
cheesy
wunmi590:


The joy on their debtors would know no bound now cheesy
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by adelaja70(m): 1:45pm On Aug 19, 2021
kelbranty:


Thank God you paid o... They would have called you "criminal on the run" by now �
Branch is different but sokoloan will start calling immediately...
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by seyz91(m): 1:45pm On Aug 19, 2021
cheesy
KingTom:

You're the only wise person on this thread. You took a loan and now you do not want to pay back and you expect them to clap for you? grin
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by belteshazzar013: 1:46pm On Aug 19, 2021
This is not right but some people are just evil.
Soko loan sent a text to me reporting a friend of mine of not paying back a loan obtained from them. I thought soko loan over acted until this same friend borrowed money from me and refused to pay me back and also cut connections between us.

2 Likes

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by wunmi590(m): 1:46pm On Aug 19, 2021
seyz91:
cheesy

I dey tell you brotherly grin
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by drsibz66(m): 1:49pm On Aug 19, 2021
Beancounter94:


Would the loan company have sent messages if they had it defaulted for some time.

I have defaulted twice in loans from Branch. Both times we cane to an understanding and the loan was paid off with 3 days of the deadline

Let people take loans when they know they have the means to pay them back ready. It is that simple. If someone did not pay you back on time would you keep quiet and allow him or her to continue? Or won't you make noise?

So becos hasnt paid your loan he is now a fraudster and thief? For God sake its a loan . Go and kill your debtor na and tell the judge in court that you commited murder becos someone refused to pay what you loaned.
Debtors have a right too .

9 Likes 1 Share

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by FalseProphet1(m): 1:49pm On Aug 19, 2021
Emeskhalifa:


Blame the oni gbese that refused to read their terms and conditions yet went ahead and clicked agreed simply coz he needed loan
Oga I had to go and read the terms and conditions of soko loan because of this thread, it is no where stated in their terms and conditions that they will send malicious messages to you contact. If it was clearly stated there, no body will fine them. You guys should use your head for once

17 Likes

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by ikllbrokehoes(m): 1:54pm On Aug 19, 2021
Wahala for who dey borrow loan

1 Like

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by AuroraB(f): 1:54pm On Aug 19, 2021
Lagosfinder:
[s]Their debtors we store numbers of services they need

They would start bombing those services with messages

When this service never knew the debtor[/s]




Meanwhile if you need any type of apartment on the island
Wether to buy, rent or shortlet
Contact Us today for best deals
Does this comment make any iota of sense to you And some iti 'liked' this undecided

1 Like

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by bigjackass: 1:57pm On Aug 19, 2021
Simeonjoe1:
How are we stealing people's contact?
But the customers read the terms and conditions before applying for loans.

Nigerians are always used to getting things free, they still want to ransack this one. Pls could we get our money back if we don't follow this due process.
If you have to call or text their contacts, simply tell them the plain fact that they borrowed money and and are yet to return it. Texting contacts that someone is a criminal on the run with company's money and he should be avoided is wrong and there is nothing you can say to justify it.

7 Likes

Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by Newboss(m): 1:59pm On Aug 19, 2021
Who go collect the fine? Government or the victims? We know say na government. Yeye dey smell
Re: Soko Loan Fined ₦10 Million By NITDA For Privacy Invasion by yusluvad(m): 2:01pm On Aug 19, 2021
Finally finally people go fit get space to rest/breath be that...

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