thegreencoal:
You banned Crypto. You blocked Twitter. Now you want to block decentralized loan apps. It looks like the Federal Government of Nigeria is determined to cripple to economic success of her own people. Which kind government be dis?

Mrbenny001:
if you see 2 weeks you're very lucky...most of them is 6 days..but they will write 7 days after 4 days they will start messaging your contact... terrible

Ernchibyke:

But nobody forced you to collect the loan.
You went to play store, same you downloaded the app, same you signed up, same you requested the loan and granted permission to your contact and same you agreed to 50% interest in 2weeks.

They are just doing business, stay away if you don't like the way they do business

DubaiLandLord:
I expect the Government to prosecute instead of closing down.

By the time two or one is use as an example, the rest will adjust or close down

matrix199:
It's about time!

Imagine giving loans to pay back in 2weeks with 50% interest. That's not even a shark loan, that's a killer whale loan.

matrix199:
It's about time!

Imagine giving loans to pay back in 2weeks with 50% interest. That's not even a shark loan, that's a killer whale loan.

Boladdsox:


They don't even know the people behind most of those apps. It will be hard to prosecute them.
My question is how they intend to shut down an app online? If it's not registered prior by CAC and doesn't have a physical office? Would they approach Google like they did Twitter? I hope they are familiar with the operating laws of these apps host before they go for kangaroo style.

JavaScript9091:
This administration is very clueless on policies. This is how they are killing startups due to misguided public sentiments.

Nigerians should learn how to pay their debts. Remember that when you urgently need money, no bank will come to your rescue without collateral which you probably don't have. Las Las na Nigerians wey dey write petitions go cry pass

chrisxxx:
This government like chasing shadows.
Why leave commercial banks that are giving loans at cut throat rates? In other countries interest rate is a single digit some close to zero. Here in Nigeria it is about 30%. This rate is what the loan sharks are leveraging upon. If the rate is reduced at commercial bank level every other similar business will adjust.

matrix199:
It's about time!

Imagine giving loans to pay back in 2weeks with 50% interest. That's not even a shark loan, that's a killer whale loan.

matrix199:
It's about time!

Imagine giving loans to pay back in 2weeks with 50% interest. That's not even a shark loan, that's a killer whale loan.

FalseProphet1:
Abeg they should shut them down, those people are just criminals taking advantage of poor Nigerians.

Imagine loaning a person in need money with over 45% interest for a duration of 6days, then going ahead to tag him a criminal when he can't meet up with the payment date. Aren't they the criminals?

Buhari's clueless leadership just brought suffering to Nigerians.

They should shut them down and leave the reasonable ones to keep running.

I see loan sharks going extinct by next year.

This I have seen.

DubaiLandLord:
I expect the Government to prosecute instead of closing down.

By the time two or one is use as an example, the rest will adjust or close down

TruthinAction:
It is rather better to shut down this government due to excessive borrowing and gross leadership imcompetence.

Johnnico1:


https://dailytrust.com/fg-to-shut-down-money-lending-businesses-over-violations

Misterone:
I can feel your pain. No food for lazy man. The time of chop i chop is gone. You have to work to earn your money.

thegreencoal:
You banned Crypto. You blocked Twitter. Now you want to block decentralized loan apps. It looks like the Federal Government of Nigeria is determined to cripple to economic success of her own people. Which kind government be dis?

TruthinAction:


So, borrowing every two months in a country that is so blessed is the way forward? Your sin is greater than that of the presidency who is attempting to sink this nation for their selfish gains.

mfm04622:


Not possible! Even Dangote dey owe. Even US govt dey owe. Debt is a fact of life

mauriceju2:
They are stealing not lending, 50% in 7 or 14 day is stealing or slaving, a man will give anything in exchange for his life, don't blame the poor[ who borrow to escape hunger, why will you take advantage of the poor, 50% in 7days? That is wickedness, the government have a duty to protect it citizen quote author=solacong post=108863771]Many Nigerian are very backward in thinking, they said shutdown and many are happy? What happens with putting regulations in place to avoid violation. When there is no law, there is no constraints they said.

Shut people's investment and businesses in the name of governance?

The borrowers that are shouting good move, who ask you to borrow, were you given the Money by force?

This country sha, Lord please send us Help

DispatcherLagos:
if demand can't be controlled, why do they want to eliminate supply?

mfm04622:


There must be consequences for breaching the Data Privacy laws.
Only those who breach the law will be shut down, not all