NIGERIANS from all walks of life have continued to patronise loan apps despite their unconventional ways of recovering their money.

These loan apps act as platforms where you can get quick loans with no collateral other than providing a bank verification number (BVN) and a request to allow pictures and contacts on a potential customer’s phone.

*Yemisi (not her real name), a resident of Ojo, Lagos, told The ICIR in a chat that despite being warned by friends and relatives about the risk of borrowing money from the Loan Apps, she still went ahead.

“I was warned by several people to avoid the Loan Apps, but I still went in. They almost killed me; I nearly died; they sent horrible messages to all my contacts. At one point, they told my contacts I was a fraudster. Please, I don’t even want to remember,” she said.

Yemisi not only took a loan and regretted it but also introduced one of her friends, Mummy Wura, to the loan facility.

Mummy Wura, in a chat with The ICIR, said she got a loan from CreditAll, and it’s a miracle she is alive to tell the story.

“At a point, I develop high blood pressure. They will call me every day in the morning, afternoon and night, threatening me, even though I promised to pay them in due time.

“They gave me a loan of N60,000; I was expected to pay N80,000 within a month. I defaulted for two days, and I saw hell,” the mother of two said.

According to her, she also borrowed from Carbon Loan App, which claimed they paid money into her account, but she did not see the money.

More victims of the loan app shaming strategy narrate their experiences.
Another victim, Precious, narrates her experience to The ICIR in a chat.

“My name is Precious. I got a phone from Easybuy; I bought the phone on credit. During my payment, I was opportune to apply for a loan.

“So, early this year, January to be precise, I collected another loan.

“The plans I had in paying up the loan were aborted. So, I had to start struggling to pay up.

READ MORE HERE: https://www.icirnigeria.org/nigerians-continue-to-patronise-loan-apps-despite-crude-ways-of-fund-recovery/

Anyone who has no means of paying back shouldn't take a loan. Most defaulters are mostly unemployed people of those without any means of paying back the loan.

Romanoff:
Anyone who has no means of paying back shouldn't take a loan. Most defaulters are mostly unemployed people of those without any means of paying back the loan.

recommend a good loan app for me abeg i have borrowed from all the ones on playstore

abba09:
recommend a good loan app for me abeg i have borrowed from all the ones on playstore

I don't borrow from any of them. So I can't give recommendations.

But why you self dey borrow excessively? You done even exhaust the ones wey dey playstore.

Why would someone pay 80k for 60k loan? The interest is too much, that's witchcraft.





BTW most Nigerians are chronic debtors, once you loan them money to pay back is a problem. They won't hesitate to even kill you if they have the opportunity, very wicked beings!

When you ask for your money you will hear "na debt I owe I nor kill person"......I would rather throw my money into the ocean than loan it out to some people.

Before you loan your money out to anybody make sure it's the amount you can forget about Incase the person doesn't pay back. If a friend ask for a loan of 100k for instance I would prefer to dash the person 10k and have peace of mind instead of inviting unnecessary hypertension upon myself.

Romanoff:


I don't borrow from any of them. So I can't give recommendations.

But why you self dey borrow excessively? You done even exhaust the ones wey dey playstore.

a man gotta make his living

abba09:
a man gotta make his living

Okay o