JimiJunji:


Never seen anyone as high as 30%. But if you as an individual can't pay the high interest why still go on to borrow? They aren't forcing you to borrow.

Nigerians can never take responsibility for their actions, don't be surprised.

JavaScript90:
he just want to kill these SMEs. Nigerians don't like paying back loans. how to do you expect the loan companies to get back their money without collateral

The same way Branch, fair money and carbon have been surviving without spoiling peoples reputation.

harsysky:
When you begin to wonder how daft our lawmakers are, you will suddenly develop migraine. You can never hear or see them come up with mind-buggling ideas to drive the nation forward; it's always ways to kill someone else's business.

Does he want the so called online loan companies to fold up because to him they are charity organization?

Alabi getat!

Aswearugaaad

Bro calm down. Those loan companies are something else. One of 'em silly firms have been sending me messages on WhatsApp that one Bode wey I never see for more than 6 years now took a loan and I'm his guarantor and all that shit.

Wetin concern me and pesin wey come collect una stupid, terrible, horrible, no-good, very-bad, excessively-inflated-interest loans?

[s]

Calitoscassius:
Don't bet! Simple!

[/s]

Don't take loans! Simple!

Incandescent:
Waiting for you to move the motion against poverty, betting and gambling before fooling around Mr Baba Ijebu jnr.



Nobody forced anyone to collect money from loan sharks branded as lending companies.

If you are sane enough to collect, you should be saner enough to repay the damn loan.

... If they default on the loan repayment, you tarnish their image for defaulting and they lose their job as a result, how will they repay the loans? Or u didn't think about that? Maybe you should consult Google..... Loan default is not a criminal offense...... Defamation of character on the other hand is a criminal offense punishable by law.... So who is now the criminal

Pimine:

Aswearugaaad

Bro calm down. Those loan companies are something else. One of 'em silly firms have been sending me messages on WhatsApp that one Bode wey I never see for more than 6 years now took a loan and I'm his guarantor and all that shit.

Wetin concern me and pesin wey come collect una stupid, terrible, horrible, no-good, very-bad, excessively-inflated-interest loans?

Infact I don't even know some of the names they do send me.

adebayo3449:

Most of them have borrowed money from friends and family without refunding it.
While others, just want to borrow with the intention of not paying back

.

hyfr:
The wise would wonder how a criminal is publicly admonishing other lesser criminals, later they toast to success and mock a whole nation.

olisefom:
But that's the only way they can get there money from majority of Nigerians.

A country where people don't care about what they signed or promised. In fact, most Nigerians don't have plans to repay loan...they see loan as an inflow.

God will help the loan companies that will agree to operate under "gentle man" conditions.

Most Nigerians...?
Where do y'all get your stats from or are blanket generalisations envogie in Nigeria now?
Y'all make out Nigerians to seem a pretty hopeless bunch and I really ain't inclined to doubt yer much with the sorts of viewpoints I've been reading on this forum these past few days.

But facts is blackmail has no place in a sane society.

adebayo3449:

Most people don't have the intention of paying back.
We just have many bad people in this country.
Some people are even more corrupt than our politicians

That's a lie bro. Look at it this way and I'll be frank with you. Those loan sharks know that you cannot pay back that loan on 7 days. See, no one will collect loan and payback in 7 days with an interest rate of between 30% to as high as 40% in some apps. They give you a loan or 10k to pay 14.5k in 7 days. If you aren't desperate then you will never collect such a loan.NEVER. So the loan companies will push you to apply for that loan and the day money is disbursed will be day 1. Now from day 5, they will start calling you like 5-6 times a day and day 6, the calls will increase to about 10 times. On the day that you are to make repayment, they will start to threaten you and calling you. Sometimes if you don't pick the call or number isn't available, they will call your contacts and blackmail you. If you aren't able to pay on due date, they start to roll out messages to your contacts in batches. They know you can't pay but there aim is to let your contacts be aware so that someone in your contacts list can bail you out. That's the concept and once they bail you out and pay, they will send messages to you to apply again and the process goes on and on. They don't care about you, they just want to destroy you and get there money. This is a wrong business model

DoggoneDogg:
He should move a motion to shut down bet companies that manipulate customers' tickets in order to dodge hooge payouts first.

Please enlighten me. How can a staked ticket be manipulated?

Emeskhalifa:
Before they blame the loan apps they should,

1. blame the OniGbese wey go collect loan without intention or preparation of how to pay back.

2. Are the defaulters daft? Or they can't read? Didn't they see terms and conditions? Yet went ahead to agree to all the terms of the loan platforms?

3. Is like most of us don't understand that most of these loan apps are someone's business. They have bills to pay, staff to pay and all that.


How then are they going to get their money back when there was no any collateral on ground before loan was issued to OniGbese?

Why should any company issue out loan without collateral in the first place? Doesn't it sound fishy to you?? Doesn't it sound like they r desperate to give out the loans. Dont they know the risk involved before they started?? Let's ask ourselves these questions.

PrinceOfLagos:
Akin said , One Sokoloan company sent him message that someone on his contact list collected loan and used his name as guarantor.

And that the sokaloan company been calling and sending him threatening messages. But unknown to Sokoloan, the man they've been calling and insulting s a serving senator.

who made him a senator

This one is just a populist bill. Akin should focus more on bills compelling debtors to pay.
How else do you expect the loan companies to recover their funds? Nigeria is a unique market and requires radical measures to get people to pay.
Just last week I got text concerning my car painter. I called him because I was about to give him a paint work worth 100k. I told him about the text and that I was uncomfortable paying him any advance.
Omo, the next morning I got text from the loan company explaining it was a misunderstanding and the my painter was a good guy
My guy had rushed to go pay his debt!

Hmm,but it all depends on the harassment, let not forget that,the owner also need the money, so let also protect their own interest as well. But you can still read how a cheating man jump from a storey building down, as he trys to escape from the woman husband
https://jovinletter.com/2021/11/09/man-caught-cheating-jump-down-from-storey-building/

ChiSun27:


Please enlighten me. How can a staked ticket be manipulated?

You never see where dem change yur 1X to X2 or to NG.

I dey take screenshot now.

You I think you are one of there stupid works that black mailing God will judge you people
]

Good move.... It's high time alot of companies begin to take responsibility for their wrecklessness..... A loan default has never been regarded as a criminal offense... It's a civil issue and even if you go to court, the hugest that can happen is that they will ask you how much you can be remitting till the money is complete...... Character assassination on the other hand is a criminal offense but these loan agents don't care... They call you criminals before your contacts and make you lose business deals, relationships, marriages and even lives are lost in the process.... Also, the terms and conditions stated clearly that the reason for demanding access to one's contacts is for the sole purpose of credit evaluation..... There is no where it is written on their app that in the event of a default, you will be tagged a criminal before the whole world...... Sharing privacy information with 3rd parties without due authorization from people is a serious crime and that's what all these agents are doing.... So in a nutshell, they are the ones committin the crimes and not the loan defaulters... There are some loan companies that will never message people's contacts no matter how long one defaults... Rather they make it difficult for you to access loans in the future which I think is a fair punishment for loan defaulters but these other loan sharks go an extra length to label people fraudsters and even in some cases include their family members... They advertise their loan as 30 days duration but after registering, they offer you 7-14 days and because guy man dey desperate, guy man must collect loans to survive....... They need to leave all together..... People have died and many more will die if nothing is done about loan sharks

PrinceOfLagos:
Akin said , One Sokoloan company sent him message that someone on his contact list collected loan and used his name as guarantor.

And that the sokaloan company been calling and sending him threatening messages. But unknown to Sokoloan, the man they've been calling and insulting s a serving senator.

I thought you are intelligent... at least by be on nairaland day and night...how is Akin Alabi a Senator. Reading this piece of news before fabricating your comment could have saved you from this embarrassment.

AnonPoet:

https://leaders.ng/akin-alabi-moves-motion-to-stop-harassment-by-online-loan-providers/

instead of advising those debtors and defaulters to meet up with repayments schedule, this country will never settle

JavaScript90:
he just want to kill these SMEs. Nigerians don't like paying back loans. how to do you expect the loan companies to get back their money without collateral

Who said they should give out loans without collateral?

adebayo3449:

See my Oga, I personally don't support interests.
My point is, most people saw that. Infact some people don't really need money.
They just take the loan with the intention of not returning it.

See this

lol....okay, lets keep asside those who collect the money for stupid reasons... there will always be case like that and i think just like banks, these loan apps are insured too (not sure) for case of bad debts, but for real, there should be regulation in that sector

seyz91:
shut up and read the whole scripts then you will understand better

dont just rush to comment

your chicken brain must have translated texts to Vn

The loan companies are fraudulent by their interest with exception to few of them...if they are actually genuine they will go through the right process.. register with necessary government agencies...most of them except few like carbon and fairmoney,they can't even report their defaulters to credit bureau why because they are not credible themselves...if you're giving loan without collateral and you're not bank that can petition cbn and have them ransack all your bank's such company should verify their customers houses and place of work.. some of them like Ren money does it..how do you think lapo is still in business... I ll rather encourage them to do the right thing..and not support rubbish

Iliveforever:


It’s people like you I’m sure is owing them. Did anyone force you to borrow??
If the bet9ja owner you’re covering up do his part to better the life of those he’s representing, do you think anyone from his contact will borrow??
Instead of you to caution him, you’re encouraging defaulters, just pray you don’t own such company one day so u don’t see what these loan companies are passing through.

Nigerialabalaba:
God bless u

How and what companies are notorious?

streetsoldier1:



lol....okay, lets keep asside those who collect the money for stupid reasons... there will always be case like that and i think just like banks, these loan apps are insured too (not sure) for case of bad debts, but for real, there should be regulation in that sector

I agree with you.
I don't even support interest money in anyway.
It only keep you poor.

DoggoneDogg:
He should move a motion to shut down bet companies that manipulate customers' tickets in order to dodge hooge payouts first.

Winning tickets can't be manipulated

I like this guy's style of representation at the assembly, the youths should focus more on the legislature instead of the presidency straight out, many more exposed youths at the assembly can bring about the change we said we want

Benwallt:
Winning tickets can't be manipulated

Better start taking screenshots from now on

Ammishaddai:
It seems he has been a victim of these loan companies

not neccesarily.
I personally have been inuadated with calls from loan companies on people i dont know. And the calls are recorded calls. they just call u about someone u sureteed and give a name. u dont even know who the person is and not even in your contact list and they start threatening you for surteeing the person. And u cant even ask how? Person apply for loan from them and provide a surety mobile no, and they dont even contact d said surety. And when the person that borrowred defaults, they start harrasing you and say u are a surety. Surety how? Do u have any document from me agreeing to surety the person?

impressive

PrinceOfLagos:
Akin said , One Sokoloan company sent him message that someone on his contact list collected loan and used his name as guarantor.

And that the sokaloan company been calling and sending him threatening messages. But unknown to Sokoloan, the man they've been calling and insulting s a serving House of reps member..

Lol...