crystalpapers:
And I dey owe okash. Ijoya ijoya

is okash not owned by opay?

They should also ban Wema bank.
They use their bank for fraud with reckless abandon.
How can u pay into an account number that has no address?

BAN WEMA BANK!

Pastorsmile:
Long over due.!!! My phone's are bombarded daily with people's pictures, phone numbers and details of so called loan defaulters.
Is this how we are going to continue?
If some one owns and hasn't paid, I think there are much saner ways to go about it.

The thing now, is that individuals have abducted the uncultured method. If they carry out hasn't received their orders, the next you see is, your pic and information on relatives phone's.

How come u know a lot of people who are debtors?

Abeg make collect my shares before u end their markets

You seemed to have made some sense....May be just 2% sense. Which survey did you conduct to tell you only Nigerians are indisciplined when it comes to loan repayment?
You leave the real issue of u registered businesses making peoples lives miserable. People have committed suicide coz of these idiots and you think you make any sense?
When u give out a loan, you already assume the risk of not getting it back. Meanwhile, being unable to repay your debt isn't a crime anywhere in the world. It's just unfortunate

Yancy:
Nigerians & indiscipline. SMH
A lot of people are very happy about this development. These companies offer their services to help in times of emergency yet people intentionally collect loans when they know they won't pay back. If people paid back loans then they won't have had to use drastic measures to get it back. Some will borrow money from you & will not pay back at the agreed time. Here in the west, you can't try that sh*t. You go pay the money with interest complete. No be credit history? e go always wait for you for front.
It amazes me that as the Government builds, yet people vandalise. Speaks alot about we as a people. Then we complain that the country is toxic. When the loan guys close down, next time when you need urgent 5k, please go & meet the government you're complaining to. Yeye dey smell.

Here's one of the Useless Soko loan agent number 07048479171, this girl is very rude and can disturb 4 Africa. Pls kindly call her and sympathize with her folks.

Truly spoken like a child. Better not lend anyone any money you cant part with. Nothing in life is guaranteed

MadamVanessa:






Nice one if it's true.

This thing has plunged a lot of people into pitiable debt.

But I don't know how someone can loaned money and find it very hard to pay back on the agreed date. When the loan company start disgracing them, they start crying foul. Some of them will run to nairaland to seek for help. Very stupid and uselesssss people infact thieves. I don't blame loan companies at all for their actions.

MadamVanessa:





Nice one if it's true.

This thing has plunged a lot of people into pitiable debt.

But I don't know how someone can loaned money and find it very hard to pay back on the agreed date. When the loan company start disgracing them, they start crying foul. Some of them will run to nairaland to seek for help. Very stupid and uselesssss people infact thieves. I don't blame loan companies at all for their actions.

Tell yourself the truth and face it. Is it ethically right to loan money on interest of 50% in 7days and then additional 2.5% per day in the case of default. Their business method is not human at all and they are the cause of their problem. Only a desperate individual will take such loan and there is a higher chance he will default.

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mrvitalis:

It's not my fault u can't comprehend

This argument started with him saying intimidation and threat are not used to recover loans

I asked him to go look how repossession is done because stalking , Intimidation ,threat are all used ...the idea of repo is to shame the defaulter

If u can't link the two point it's not my business

Oh please, just shut up.
You've been occupying space typing nonesense.

BluntTheApostle:


Sokoloan is there. But they now go by many names, including Go Cash and Fast Money.

Their office has been locked up as we speak.

Their workers had the audacity to stop the agencies involved in the sting operation from leaving, but the police fired into the air, and cleared them.

All their equipment have been seized, and their office locked up.

The FCCPC are in collaboration with NITDA, ICPC, and the Nigerian Police.

There was no need shooting a single bullet there.

Just publish their office address and leave the rest for their customers.

hhahahh im happy i have borrowed from all of them chaiiii

Is okash not owned by opay?

Yes

lifenija:
u need dik in ur life

That's all you can offer?

Really

Bbbw:
Really

its true i tried repaying on easycredit its showing me error illegal params

NGArmyTerrorist:
They can either go to bank for loan now or go hungry because they're never a good neighbor! Those who thought that the loans they collected will be wiped out, rejoice not. All your data, everything in your phone are still with them, no escape!

The report states that there illegal loan operators account has be frozen, their laptops seized and offices shut down . Meaning the loan companies are no longer in possession of debtors information .

And with banks frozen, which account will debtors pay back loan they collected ?

The possibility of the government wiping out debtors information from the seized computers are 90% sure .... So it's a win win situation for the debtors

MadamVanessa:





Nice one if it's true.

This thing has plunged a lot of people into pitiable debt.

But I don't know how someone can loaned money and find it very hard to pay back on the agreed date. When the loan company start disgracing them, they start crying foul. Some of them will run to nairaland to seek for help. Very stupid and uselesssss people infact thieves. I don't blame loan companies at all for their actions.

Spot on!
U access a loan app, read their terms and conditions, know their interest rate and due date and went ahead to apply for the loan..
Isn't it an act of cheating when u started complaining about the things u have read when the due date arrive?
I've seen people who are so dogged about not paying their loans back, not that they don't have but they just wanna cheat.
Thousands of youths are reasonably employed by these loan companies, I wonder what their fate will be if these companies are shut down, instead I think some standards and regulations should be given to these companies instead of outrightly shutting them down..

PrinceOfLagos:

The report states that there illegal loan operators account has be frozen, their laptops seized and offices shut down . Meaning the loan companies are no longer in possession of debtors information .

And with banks frozen, which account will debtors pay back loan they collected ?

The possibility of the government wiping out debtors information from the seized computers are 90% sure .... So it's a win win situation for the debtors

And that's good right?
Thousands of people are rendered jobless while debtors that read the terms and conditions before going ahead to borrow go scot free..
Nemesis will catch up with the bad party between the loan apps and the borrowers..

Dagrace01:


And that's good right?
Thousands of people are rendered jobless while debtors that read the terms and conditions before going ahead to borrow go scot free..
Nemesis will catch up with the bad party between the loan apps and the borrowers..

The loan operators are criminals for operating illegally in the country, not paying tax to the government and also for collecting high interest rate from loans issued to people..

They deserve what the got

]How come u know a lot of people who are debtors?

Iam into some TV and radio programs and the phone number is usually mentioned during our programs.

Dagrace01:


Spot on!
U access a loan app, read their terms and conditions, know their interest rate and due date and went ahead to apply for the loan..
Isn't it an act of cheating when u started complaining about the things u have read when the due date arrive?
I've seen people who are so dogged about not paying their loans back, not that they don't have but they just wanna cheat.
Thousands of youths are reasonably employed by these loan companies, I wonder what their fate will be if these companies are shut down, instead I think some standards and regulations should be given to these companies instead of outrightly shutting them down..

What stop them from doing the right thing by operating legally,imagine a loan firm with over 800 staff yet is not registered with CAC,no physical address, no paying of tax,imploys dubious loan recovery methods by name shaming defaulters. I abeg FG did the right thing,those employees affected should look for a befitting job after all they have been hiding their identity to avoid public lynch.

MadamVanessa:





Nice one if it's true.

This thing has plunged a lot of people into pitiable debt.

But I don't know how someone can loaned money and find it very hard to pay back on the agreed date. When the loan company start disgracing them, they start crying foul. Some of them will run to nairaland to seek for help. Very stupid and uselesssss people infact thieves. I don't blame loan companies at all for their actions.

You must be one of their agent bastard, it's possible that you might not be able to pay on the due date that iss why there is over due charges and penal charges and upon All this the companies still go ahead to defamed in as little as 1 day default upon the over due Interest they have put and I can tell u categorically that most people that get the loan want to pay back but the way the agents will disgrace you just fir 1 day default is not nice

unitysheart:
It is long overdue.

Don't rejoice yet, it's Nigeria. These Chinese mafias have the money, they will just bribe their way through this and resume their illegal business as usual.

May be the Loan Companies are being owned by Russians... LOL!

Dagrace01:


And that's good right?
Thousands of people are rendered jobless while debtors that read the terms and conditions before going ahead to borrow go scot free..
Nemesis will catch up with the bad party between the loan apps and the borrowers..

It shall not be well with the jobs they have. Is that one a job, a job you will unneccessarily insult people for no reason anjob u will defame people And u call that one a job

PrinceOfLagos:

The report states that there illegal loan operators account has be frozen, their laptops seized and offices shut down . Meaning the loan companies are no longer in possession of debtors information .

And with banks frozen, which account will debtors pay back loan they collected ?

The possibility of the government wiping out debtors information from the seized computers are 90% sure .... So it's a win win situation for the debtors

So You think debtor's data are stored on their laptop computers only...

Those companies have their headquarters in China, France, India etc. That's were their servers and debtors data are.

To effectively clamp them down, the FG has to work with banks and payment solutions providers such as Paystack Flutter wave, monify etc. to block thea0 transmission of repayments and disbursements.

Better still, they should just intensify efforts towards locating their hideouts, when their operational bases are found, no need going there to arrest anyone or sieze anyone's property, just alert the general public and watch how Nigerians can resolve issues in the African way.

olaboy33:
Even with the stability of digital banks over the years, I still have troubles keeping substantial amount with them.

Not because they are not to be trusted, but because the Nigerian government can wake up tomorrow and give a policy these banks would not be able to survive.

≈≈≈≈≈≈≈≈≈≈≈≈≈≈≈≈≈≈≈≈≈≈

By the way, those online banks were shut down because they were operating illegally.

If you can get a loan from a duly registered loan app from the comfort of your phone with no collateral, accepted their terms and conditions, there is no reason you shouldn't pay back your loan.

Whatever legal means they chose to recover their loans if you default, after accepting their conditions, you shouldn't complain of.

Okay, what FG is saying now is that some of them are using loan recovery methods that are not legal

Useless loan companies. Yesterday I borrowed 18k from one of the loan companies to pay back 25k in a week. How na? Abegi, me pay back? Mcheeeew

The worst a loan company should do to you is to lower your credit score not shaming you its NEVER proper

Aderewah:
Lol. What about their loans?

We no go pay them again be dat naa.

Why should we make payments to a company operating illegally in our country.?