AhmedGhost:


Na smart guy. But hope Dem no get his pictures?

Spiritualsdeeps:
You are right.. loan Apps and loan Sharks are bigger than the Government Jare, Na DEM own Nigeria ,they can do anything dem like and also on play store, no dem owns it..


Play play na hin una dey.. Wetin b d name of ur own loan shark self

Hotice085:


Since no be FG de implement the action but Google, Ogbeni forget story.

tiswell:
dem get,but dem Neva call any of his contacts nor used his pic.

more than 1yr now.

MichaelSokoto:

wats d meaning of "refuse to pay back?"

who dey refuse to pay back if dey offer better repayment terms?

ivolt:

Where you forced to borrow the money?
You went to Playstore, download the app, registered and apply for a loan
with no threats employed in any of this process.

You have family and friends who can give you loan with zero interest
but you chose a profit driven company instead for obvious reasons.

You also have your normal banks who would also not give you loan without collateral.

No loan companies will give you a non-collateral loan at a normal interest rate.
Never.

nedekid:

You are right.
The issue is most Nigerians are dubious by nature and will never payload even with a fight. It's not only here oh. A paddy in the uk told me of another friend that collected 50k gbp loan from bank, and took the money to naija, never to pay back. That after 5 years your records will be cleared. That is allegedly the UK banking laws.
Lend your paddy money and see if he will pay you, one told me last last, I should take him to police.
3 weeks ago, I needed urgent 100k. Tried gt bank, forwhere, they said it has to be salary acct. Tried Zenith, that one, seems it is only to themselves they give loan, tried Fcmb, the said mine was company account, it has to be personal account. A whole me could not get 100k from regular banking.
I went to some of these apps eg carbon and fairmoney I had used years ago. The kind of extra info they were asking for, I kukuma japa.
What basically I am saying is that those loan apps with tighten up, the regular banks will not give money. Relatives, friends and family will not give money because them no want quarrel.
So where do folks now get urgent money to solve pressing issues?

danniyal:

99% of loan shark agents are on nairaland. I pray God provide decent jobs for you guys

Yukov:
Opay has been calling me for the some days now to repay loan I did not take and have never taken in my life.

Wahala

LagosFirstSon:
This loan apps criminals will soon run away from Nigeria

Don't patronize them

Josbreed:
When this policy is fully implemented, I will borrow N200,000 and will not pay. Buhari borrowed money, and refused to explain hiw Nigeria will pay it back. Nobody is talking about that. I am following Buhari footsteps.

alezzy13:
Nigerian don't like repaying their loans, hence the crude methods being used.

Mrvictorwrite:
Honestly these loan apps increases every single day, with one stupid name, the last thing I'll do is to patronize them.
















Chat me up for your Loans. I am a money lender

einsteine:


You are obviously one of the jobless youths they employed as collection agents.

If you weren't, you would have understood that these apps are commiting crimes. Have you heard about usury laws? There is a limit to the amount of interest you can charge. In Lagos state, this is set to a maximum of 100% APR. This loan apps charge 30% every 7 days which is about 1500% APR, over 15 times the maximum rate. They also break the cybercime act by engaging in cyberstalking and privacy violation. Yet here you are claiming they are profit seeking. Being profit seeking does not give you a right to break laws. Scammers are profit seeking too.

Yukov:
Opay has been calling me for the some days now to repay loan I did not take and have never taken in my life.

Wahala

Fearyourcreator:

Make loan app too dey do plus and minus go na... They can't expect people to pay that much interest easily ... People wey no wan pay before... Thief dealing with thief... Online loan app vs Nigerians

Ayojideonline:


Palmpay is not a loan app, They operate as a digital bank, just like Opay. Yes they give out loans, but are in partnership with a physical microfinance bank in Nasarawa state. Very much close to Abuja. It's the microfinance that gives out loans. Enjoy

ivolt:


You sound like an illiterate.
Lagos does not set interest rate or APR, CBN does.
Also, there is no such thing as usury as far as Nigeria is concerned.

Moreover, this loan companies are not commercial banks.
You either ban them entirely or leave them alone.

Since they are committing crimes, why not run to your well-regulated commercial banks?
Oh, you can't because they don't trust you and won't give you a dime unless you have collateral.

Stay off loan apps if you can't pay the interest.

lazynairalander1:

God abeg ooo🤲, let's not start the week with confusion.

sweerychick:
profit driven criminals you mean? How can you ask someone to pay back a loan with almost 50% interests and at an outrageous rate within 5 days where's that done, not only that you invade the persons privacy and sending unsolicited messages tagging them and their family Criminals. Anyways I blame the mor0ns that keep patronizing those criminals.

lazynairalander1:
Palmpay customers will like this. 😂🤣

ivolt:

The reason the interest rate is so high is because many people don't plan to pay and never pay.
So, the people that paying the price for the defaulters.