Walkee:
I like the way our federal government is ordering these big techs. They used to form James bond in USA during Trump era

Ademola47:
So if FG 'close' their shops now, what will happen to the money the loan apps have borrowed people? Will FG compensate them? Or they will bear the brunt of the dearth of restitution?

In as much as I don't like the excesses of the loan apps, I also don't like creating unnecessary hardship for people. FG can't just cripple their business like that.

Ademola47:
So if FG 'close' their shops now, what will happen to the money the loan apps have borrowed people? Will FG compensate them? Or they will bear the brunt of the dearth of restitution?

In as much as I don't like the excesses of the loan apps, I also don't like creating unnecessary hardship for people. FG can't just cripple their business like that.

Maybe they should have properly registered themselves and also not employ thugs as loan officers

Kubernetes:
They should also mandate the legal loan apps to reduce the interest rates like the way commercial banks are charging

KingSatan:
Nigeria is a circus.

Her Leaders, Clowns.

Her People, weak spectators.

As long as Nigeria continues to overlook the demands in critical sectors of the nation such as the educational sector. We will continue to produce presidents/leaders who issue strange orders.

Strange orders that shamelessly define how undemocratic, uncivilized, underdeveloped, retrogressive and uneducated we are.

temptnow:


Do you think Google know Nigeria exist?

The only people that think Nigeria is important is you Nigerians.

Up till now Twitter doesn't even have you people's time.

Festus Keyamo and Femi Adeshina fooled you all that Twitter has agreed to share database with Nigeria and open office. It's going to a year now still nothing

Sharing access to database with Nigeria, do you know how crazy that sounds to these Oyibo companies. Of all countries in the world, it's Nigeria they will share data with.

airsaylongcome:


Lol....y2arw joking right? How many people taking loans from these apps will qualify for a loan from a bank. Even a Microfinance Bank will not lend to them. To take a loan from a bank you drop a collateral with value far in excess of your loan. These Loan apps are giving out unsecured loans which is very very risky. High risk, High returns

GloriousGbola:
This is going to be interesting.

Especially after the twitter fiasco

This government is actually stupid enough try to chase out Google and apple in a bid to appear tough.

Is this how the foolish telecoms minister thinks he will develop the app space

And this clown who was copying and pasting warnings about trojan banking apps does not know that android is open source and you can install apps from outside the Google play store?

These clowns do not understand that the end users of loan apps know exactly what the apps will do and give permissions to the apps to access contacts?

Las Las the govt of dashing out 5k 5k is looking for another way to collect cut from app developers under the guise of regulation.

Also, Buhari is doing the exact same thing putin is doing, ensuring no serious foreign investors will come to Nigeria.

Rather than address the big elephant in the room - the dishonesty of Nigerians, they are disturbing Google and apple.

Kobicove:
The FG has no authority to give orders to companies that are not within Nigeria's jurisdiction

Walkee:
I like the way our federal government is ordering these big techs. They used to form James bond in USA during Trump era

LZAA:

But are operating on NIGERIAN Soil

derecho:
No doubt Google will oblige the FG if they report.There's no need to order.

Mycometp3:
Easi moni still dey give loan ooo as of today I saw someone that took loan from them so make fed no dey give us audio order

WowSweetGuy:
Those Chinese shark loans have made bastard money from Nigeria in these past few years. Forget the defaulters because most are less than 10k or even 5k...before you increase to a credit limit to borrow up to 100k u must have been repaying with their outrageous super interest within each 7days or some increased to 10-14 days. Imagine borrowing 6500 and paying 10k in 7days

I was in their spider web for long and I had to borrow from one to pay another...I later found out some like sokoloan owns like 7apps....so what all these entails is that you are working hard daily just to be repaying all your life and even selling your hard earned stuff to meet up to avoid defamation. No matter how hard you enrich them,the DAY u delay,their useless Nigerian slaves will start insulting....using your selfie picture u took while accessing the loan to write criminal or even RIP and send deformatory messages to all your contacts

Don't pity these mean Chinese sharks. They are so greedy and wicked! Nigeria is d head of 419 in the world,they should teach Chinese a lesson

FindX:


We don carry their money dey soft.

Ademola47:
So if FG 'close' their shops now, what will happen to the money the loan apps have borrowed people? Will FG compensate them? Or they will bear the brunt of the dearth of restitution?

In as much as I don't like the excesses of the loan apps, I also don't like creating unnecessary hardship for people. FG can't just cripple their business like that.

KingSatan:
Nigeria is a circus.

Her Leaders, Clowns.

Her People, weak spectators.

As long as Nigeria continues to overlook the demands in critical sectors of the nation such as the educational sector. We will continue to produce presidents/leaders who issue strange orders.

Strange orders that shamelessly define how undemocratic, uncivilized, underdeveloped, retrogressive and uneducated we are.

Revolution2022:
What is the fate of loan apps who are yet to recover their loan?

Uchesis:
Pls they should list the apps. E get why

EmptyGarden:
They should go for debt cancellation while they're at it.

2mercy:
From Previous thread
https://www.nairaland.com/7026234/fg-shuts-illegal-online-banks



https://punchng.com/fg-orders-google-apple-to-deactivate-illegal-online-banks-loan-apps/

Ademola47:
So if FG 'close' their shops now, what will happen to the money the loan apps have borrowed people? Will FG compensate them? Or they will bear the brunt of the dearth of restitution?

In as much as I don't like the excesses of the loan apps, I also don't like creating unnecessary hardship for people. FG can't just cripple their business like that.

ademidedavid:
I smell one government official has borrowed money online and planning not to repay


Oga government go and repay your loan at sokoloan, xcredit, branch, fairmoney,palm credit etc.......they will not stop calling until you do the needful sir

Walkee:
like I said earlier, your problem is Inferiority complex. I think it's not just that but ignorance is also a huge part of it. Norway have huge gas reserve and it's closer to European countries, have you heard anyone mentioned anything about them? What of USA, Canada Algeria, Egypt and Turkmenistan you think they don't have gas reserves?
Can Nigeria connect pipelines to Europe to supply them gas? Nigeria produce 1.2m barrels per day, that's fairly respectable.

Because people in the North don't speak English doesn't mean they are illiterate. Northerners speak Hausa, even in school. On Facebook they speak Hausa same as Twitter. You don't really know much.