In August, I received a text message that made me very angry.

TREAT AS URGENT AS YOU ARE INVOLVED AND HES UNWILLING TO PAY!!!!! Your Friend/Relative, NAME: *** Phone: 080******** has failed to pay back the loan HE took from NINE CREDIT. We advice you reach him and urge him to make payment today AS HE IS NOW AVOIDING OUR CALLS. The company would be taking LEGAL ACTIONS and other unfriendly measures against him. he would be publicly disgraced on all social media platforms before reporting him to the NIGERIAN POLICE FORCE AND CREDIT BUREAU OF NIGERIA as this is a FRAUDULENT ACT. NOTE: You are getting this message because he gave us your number as an EMERGENCY CONTACT. We have your information, you can as well tell him to remove you if you do not know about this LOAN. NINE CREDITLEGAL TEAM.

This message infuriated me and I immediately picked up my phone and called the person in question.

Me: guy you no try, you no try! I dey vex.

Person: (confused) wetin I do na?

Me: how you go carry my name go put as guarantor and you no tell me. E no make na.

Person: (more confused) guarantor.

Me: baba no just carry that leg with me. I go forward you message when dem send me now now. You no borrow money?

Person: (seems to recollect) oh I don pay na. Them no suppose message anybody. Besides I no use you as guarantor.

Me: (still angry) why dem come send me SMS?

Person: I no understand. Abeg no vex.

I lock up

In September, this time it was a call from a 5 digit number.

I thought it was DSTV because when my sub wan expire, na girl when get fine voice dey call me for reconnection sturvs.

I picked up.

Voice on the phone: Hello, is this Jeffarie?

Me: It's Jeffrey, no spoil my name.

Voice: your friend or family member (name withheld) with 080****** used you as guarantor.

Please do note that if he doesn't pay up, he'll be arrested and you'll be arrested as...

I don vex hang up.

I dialled the offending individual. I was now really really angry.

What kind of mumu trend is this one. Where people now collect loans and use other people's names without their consent.

Them no get sense?

The mumu companies when dey issue loans without collateral, them no wise too?

He picked up and was very surprised.

He swore that he did not put my name as a guarantor on any loan app.

He confirmed that yes he borrowed and defaulted a week ago but he has paid back in full.

This really surprised me.

One mind said that they're lying but the other one said bro, you'll never know if they're telling the truth with such a negative attitude.

So I rested.

I don't know if any of the above scenarios has happened to you.

The common denominator between both of these cases are loan apps.

Dear lord, they're everywhere. Their ads are so intrusive.

I have heard people on the bus, on the street, inside Keke, talking about how they feel pressured to use them.

Loan apps are the new craze in town, from CreditMesan, to Sokoloan, to Branch, to Opay.

These apps have come out of nowhere, promising to do the impossible.

Offering free loans without collateral. Them no born the bank well when go try am.

That was where my suspicions began.

I am a very suspicious person, always have been.

After reading through the fine print of their T&C's which many people never bothered to read.

Omo, I told myself, that I would never use such apps.

Or any credit facility of the sort.

The app permissions are scary, they require access to nearly every thing on your bloody phone.

A IT guru known as Tolu Ogundipe analysed Sokoloan app and found that there are embedded software in the app.

The software crawls through your phone, collects data and sends it back to a remote server somewhere.

So the people who borrowed from them, did not need to give them my phone number.

They already had it!

That in itself is scary!

These apps could access your gps and turn on location wherever you are...

People are willingly installing malware on their phones because of loans.

And some famous Nigerian YouTubers are endorsing them!

Jesus F. Christ!

If you have such an app on your phone. You've installed legalized malware on your phone.

Your antivirus won't see it and it will continue sending your contacts, your sms, maybe even install a keylogger software on your phone.

What you choose to do with this information, is up to you.

No broke goakee borrow from apps

Lcredit jus dey send me sms, say ma come borrowe.. I don tire for this loan apps matter

Flamees:
No broke goakee borrow from apps

Lmao

The5DME:
Lcredit jus dey send me sms, say ma come borrowe.. I don tire for this loan apps matter

Anywhere I see this message, na to report as spam and block!

Immediately.

Op i always love ur write ups. Expository i must say. Keep up the good work.

Enigma2049:
Op i always love ur write ups. Expository i must say. Keep up the good work.

Thank you

Thanks. Those werey.

Azurevermillion:
Thanks. Those werey.

You're welcome.

Thanks alot
I am not entirely innocent on this.
I use carbon and make sure I pay back before my loan is default.
But the access these apps have is scary.
The info they take is worth more than their loans.
But we can't blame our brothers and sisters.
We are underpaid in this country, and when we run out of cash what do we do.
Nobody wants to take a loan of 30k and pay 40k but what choice do they have?
Besides we have people that are supposed to protect us from things like this and they are doing nothing.

possibilita:
Thanks alot
I am not entirely innocent on this.
I use carbon and make sure I pay back before my loan is default.
But the access these apps have is scary.
The info they take is worth more than their loans.
But we can't blame our brothers and sisters.
We are underpaid in this country, and when we run out of cash what do we do.
Nobody wants to take a loan of 30k and pay 40k but what choice do they have?
Besides we have people that are supposed to protect us from things like this and they are doing nothing.

I have always questioned the source of that their money my brother. Nobody just throws money like that away without some form of gain.

These people are just mining our data for free and then we're paying them for it.

Why? Because we're vulnerable and the people supposed to protect us have turned a blind eye.

One stupid loan app has been disturbing my life for like a month now with text and calls saying I should help get across to a former classmate of mine who refused to repay his loan. I wonder what's my own problem or I was there when they both decided to loan each other money, I last saw the dude 14yrs ago by the way.

Tokskob2008:
One stupid loan app has been disturbing my life for like a month now with text and calls saying I should help get across to a former classmate of mine who refused to repay his loan. I wonder what's my own problem or I was there when they both decided to loan each other money, I last saw the dude 14yrs ago by the way.

Report as spam and block.

Na my new tactic be that.

Imagine now, like this like this, them don hack that guy phone dey read e contact list.

Chai!!!

Must you show your atheism to the world? I forgot you are proud... What's the meaning of Jesus f Christ??

Nice write up.
These credit providers need to renegotiate the loan and stop harrassment, but what do I know? In time of desperation you can sign anything. The painful part is the payback process and interest (I once took 450k that turned to 800k refund, my eyes cleared sharply)

Anyways I told myself I won't install any of these loan apps again no matter how bad things are.

thelegend1:
Nice write up.
These credit providers need to renegotiate the loan and stop harrassment, but what do I know? In time of desperation you can sign anything. The painful part is the payback process and interest (I once took 450k that turned to 800k refund, my eyes cleared sharply)

Anyways I told myself I won't install any of these loan apps again no matter how bad things are.

Only the interest rates don immediately make me run with full speed

atheistandproud:


I have always questioned the source of that their money my brother. Nobody just throws money like that away without some form of gain.

These people are just mining our data for free and then we're paying them for it.

Why? Because we're vulnerable and the people supposed to protect us have turned a blind eye.

They know nobody will install if they decide to develop their app in another form

possibilita:

They know nobody will install if they decide to develop their app in another form

Exactly!

I can't remember the last time I read Ts and Cs of apps, very bad habit that needs stopping.

Thanks for this post. This is very insightful

thelegend1:
Nice write up.
These credit providers need to renegotiate the loan and stop harrassment, but what do I know? In time of desperation you can sign anything. The painful part is the payback process and interest (I once took 450k that turned to 800k refund, my eyes cleared sharply)

Anyways I told myself I won't install any of these loan apps again no matter how bad things are.

how did you now pay?

Kuda overdraft is the best
I swear down
It has been a life saver for me
Though, I'm limited to 10k with interest of 30naira everyday..
Let assume you paid 5k,the interest will be 15naira...

Jacku:
how did you now pay?

Through the skin of my teeth!
Unless it's a health issue or matter of life or death, then avoid those loans with the fear of God.

Simple 25k loan can deny one a visa.

thelegend1:


Through the skin of my teeth!
Unless it's a health issue or matter of life or death, then avoid those loans with the fear of God.

Simple 25k loan can deny one a visa.

hmmmm.. Nawa o

This kind of post will not make front page, only Tonto, snake, tribal warfare and Co will grease front page.

When you search the forum about this app, you'll see the agony people you use them are passing through. The pressure, guilt and remorse are daunting. It is something I never even pray for my enemy.

En get one wey be migo wey just send me message to use ussd in my mtn line, it was so simple to be true cos no app was used and I wasn't asked for contacts and every other thing. Don't know how much they can do with bvn though very very risky but I tried it out with *561# and it was successful but I paid back immediately and begged whatever spirit that brought that never to come by me again in this life.

Those people all work for some chinese money bags who exploit the Nigeria economic atmosphere preying on how bad our economy is as they know some people will break under some economic difficulties.

OkukoIgbo:
When you search the forum about this app, you'll see the agony people you use them are passing through. The pressure, guilt and remorse are daunting. It is something I never even pray for my enemy.

En get one wey be migo wey just send me message to use ussd in my mtn line, it was so simple to be true cos no app was used and I wasn't asked for contacts and every other thing. Don't know how much they can do with bvn though very very risky but I tried it out with *561# and it was successful but I paid back immediately and begged whatever spirit that brought that never to come by me again in this life.

Those people all work for some chinese money bags who exploit the Nigeria economic atmosphere preying on how bad our economy is as they know some people will break under some economic difficulties.

See the bolded part, that has been my suspicion from day one.

I was telling my guy, that them never born the bank well when go give you loan without collateral in Nigeria.

So the money has to come from elsewhere.

Na another slavery/colonialism we dey wan dance enter.

atheistandproud:
In August, I received a text message that made me very angry.

TREAT AS URGENT AS YOU ARE INVOLVED AND HES UNWILLING TO PAY!!!!! Your Friend/Relative, NAME: *** Phone: 080******** has failed to pay back the loan HE took from NINE CREDIT. We advice you reach him and urge him to make payment today AS HE IS NOW AVOIDING OUR CALLS. The company would be taking LEGAL ACTIONS and other unfriendly measures against him. he would be publicly disgraced on all social media platforms before reporting him to the NIGERIAN POLICE FORCE AND CREDIT BUREAU OF NIGERIA as this is a FRAUDULENT ACT. NOTE: You are getting this message because he gave us your number as an EMERGENCY CONTACT. We have your information, you can as well tell him to remove you if you do not know about this LOAN. NINE CREDITLEGAL TEAM.

This message infuriated me and I immediately picked up my phone and called the person in question.

Me: guy you no try, you no try! I dey vex.

Person: (confused) wetin I do na?

Me: how you go carry my name go put as guarantor and you no tell me. E no make na.

Person: (more confused) guarantor.

Me: baba no just carry that leg with me. I go forward you message when dem send me now now. You no borrow money?

Person: (seems to recollect) oh I don pay na. Them no suppose message anybody. Besides I no use you as guarantor.

Me: (still angry) why dem come send me SMS?

Person: I no understand. Abeg no vex.

I lock up

In September, this time it was a call from a 5 digit number.

I thought it was DSTV because when my sub wan expire, na girl when get fine voice dey call me for reconnection sturvs.

I picked up.

Voice on the phone: Hello, is this Jeffarie?

Me: It's Jeffrey, no spoil my name.

Voice: your friend or family member (name withheld) with 080****** used you as guarantor.

Please do note that if he doesn't pay up, he'll be arrested and you'll be arrested as...

I don vex hang up.

I dialled the offending individual. I was now really really angry.

What kind of mumu trend is this one. Where people now collect loans and use other people's names without their consent.

Them no get sense?

The mumu companies when dey issue loans without collateral, them no wise too?

He picked up and was very surprised.

He swore that he did not put my name as a guarantor on any loan app.

He confirmed that yes he borrowed and defaulted a week ago but he has paid back in full.

This really surprised me.

One mind said that they're lying but the other one said bro, you'll never know if they're telling the truth with such a negative attitude.

So I rested.

I don't know if any of the above scenarios has happened to you.

The common denominator between both of these cases are loan apps.

Dear lord, they're everywhere. Their ads are so intrusive.

I have heard people on the bus, on the street, inside Keke, talking about how they feel pressured to use them.

Loan apps are the new craze in town, from CreditMesan, to Sokoloan, to Branch, to Opay.

These apps have come out of nowhere, promising to do the impossible.

Offering free loans without collateral. Them no born the bank well when go try am.

That was where my suspicions began.

I am a very suspicious person, always have been.

After reading through the fine print of their T&C's which many people never bothered to read.

Omo, I told myself, that I would never use such apps.

Or any credit facility of the sort.

The app permissions are scary, they require access to nearly every thing on your bloody phone.

A IT guru known as Tolu Ogundipe analysed Sokoloan app and found that there are embedded software in the app.

The software crawls through your phone, collects data and sends it back to a remote server somewhere.

So the people who borrowed from them, did not need to give them my phone number.

They already had it!

That in itself is scary!

These apps could access your gps and turn on location wherever you are...

People are willingly installing malware on their phones because of loans.

And some famous Nigerian YouTubers are endorsing them!

Jesus F. Christ!

If you have such an app on your phone. You've installed legalized malware on your phone.

Your antivirus won't see it and it will continue sending your contacts, your sms, maybe even install a keylogger software on your phone.

What you choose to do with this information, is up to you.

Are you a Christian now?