₦airaland Forum

jimmyolasun:
No red flag for loanapp o.. once we know say you be loan shark, we collect your money and we no go pay you ... Go report us give efcc

How to know if they were loan shark, I need free money.. 😭🤑

Googledotcom:
People open companies using the current challenges of an environment. They've seen that some Nigerians are broke, and they can actually milk out more money from desperate Nigerians who don't have means of surviving a temporary challenge.

Milk what? They give you an alternative to the banks who will never give unsecured loans even secured ones.
When the loan companies take money from fixed deposit investors, from regular banks at over 20% and then take the risk to give the money at higher percentage to Nigerians who naturally will not pay debt even at gun point, don't you know the interest rate will be high to cover all the risk and cost of those that will be bad debts, the cost of handing over bad loans to debt revovery agents to use unconventional means to get back their money?
Oga loan apps money is not for merryment, it is not for investment or to chop and clean mouth. It is for those that have steady income but need to cover immediate expenses based on guaranteed income on a later date to pay back. It is not to chop and say God will provide when the payment date reaches.
I believe when one has good credit history, and they see you are not a risky customer, interest rates come down. Eg I currently have 91k from opay for 2 months and the interest is 9k total.

Sonofgod1990:
The last time this loan app helped me was when I took the risk and borrowed 70k from them and I used the 70k Play 5 odds on sportybet and I won,,,,
I withdraw the money from my sporty account send am to my ecobank account before 1 second they don comot the money that I borrowed from them. They tried for me dat time I no go lie

You take big risk, what if the money nor enter you come loss.. ?

nedekid:
Milk what? They give you an alternative to the banks who will never give unsecured loans even secured ones.
When the loan companies take money from fixed deposit investors, from regular banks at over 20% and then take the risk to give the money at higher percentage to Nigerians who naturally will not pay debt even at gun point, don't you know the interest rate will be high to cover all the risk and cost of those that will be bad debts, the cost of handing over bad loans to debt revovery agents to use unconventional means to get back their money?
Oga loan apps money is not for merryment, it is not for investment or to chop and clean mouth. It is for those that have steady income but need to cover immediate expenses based on guaranteed income on a later date to pay back. It is not to chop and say God will provide when the payment date reaches.
I believe when one has good credit history, and they see you are not a risky customer, interest rates come down. Eg I currently have 91k from opay for 2 months and the interest is 9k total.

That is true... We pray we don't go broke... Is really hard this period.. yeah.. well we move..

Curious345:
But at least you go to the bathroom with your phone , they see your nudes too

Do you go to the bathroom naked just to position your phone in a manner that captures your body?

The highest the phone can capture is your face if you are using it to type or watch videos while pooping

airsaylongcome:
Are you telling me that the CBN approves loan apps that charge 180% per annum as interest?

Plus is the CBN the one in charge of credit score?

There is a limit on the cbn regulated ones but the loansharks are not regulated and charge up to 50% of what you borrow to be repaid in 6 days. No be juju be that?
Even some registered ones like palmpay and opay chargers interest way more than cbn limits and start charging default fees of 2% daily from the next day repayment is due.
Cbn says moratorium of two weeks before you can charge overdue penalty.
CBN only penalize microfinance bank but look away from these online loans even when they obviously violate the rules.
When I was working with a mfb, cbn use to harass the hell of us but the same thing is what these MMOs are doing and getting away with it.

OgbeniOja1:
The one I would love to talk about is how owing loan apps are messing with a lot of young men's credit scores. And young ones don't know they think it's funny owing them. Some people have owed loan apps to the point that they have been blacklisted by CBN due to the apps reporting them. One day in the future they will need to take a bank loan or FG loan for something serious and find out how bad their credit score is. Also some will have money sent to their accounts for something else wiped to clear outstanding loans and interest in the nearest future.
Abeg avoid loan apps. Join a cooperative instead.

Only registered loan apps can do this.

Sonofgod1990:
The last time this loan app helped me was when I took the risk and borrowed 70k from them and I used the 70k Play 5 odds on sportybet and I won,,,,
I withdraw the money from my sporty account send am to my ecobank account before 1 second they don comot the money that I borrowed from them. They tried for me dat time I no go lie

Are you saying they withdrew the money automatically same day you loaned it or on due date?

airsaylongcome:
I don't take loans from these apps, but I'm thinking if they are not registered with FCPC then that's more incentive to take a loan from them and default forever

Apart from defamation, there's nothing unregistered loan apps can do defaulters since they are operating illegally.

Procashtips:
Are you saying they withdrew the money automatically same day you loaned it or on due date?

They withdraw it immediately I loaded money into my account...

Goldbw122:
You take big risk, what if the money nor enter you come loss.. ?

That why it's called risk

One of my Guy once said
Take d risk and join the billionaires

Procashtips:
For a phone laying down flat?

What are they going to be seeing if not the ceiling?

u dey mind the guy

He think say we be otey

Curious345:
But at least you go to the bathroom with your phone , they see your nudes too

Aboi how old are you?

Kingpele:
The truth is that these loan Apps are trying to make money too ,if u don't want embrassment avoid them at all cost ,is better to sale off properties than to borrow from this loan Applications ...but if u don't have properties to sell then ask for help from family and friends..because I have helped one friend last three months, thr lady borrowed roughly 30k but before she reached out the debt have accumulated to 100k ,this guys started cursing every one in her contact ,I received the text too....but then later she returned my money because I collected something from her as collateral....

Bad Guy what did you collect

Curious345:
Loan apps can switch on your phone camera and microphone to record you without your knowing. Even while you're naked they can see you

The confidence with which you are spewing lies here is shocking!

Curious345:
But at least you go to the bathroom with your phone , they see your nudes too

More lies...

JuanDeDios:


Is this true?

___
9 more characters needed

Don't mind that liar!

airsaylongcome:
I don't take loans from these apps, but I'm thinking if they are not registered with FCPC then that's more incentive to take a loan from them and default forever

Whether they are registered with FCPC or not does not invalidate the fact that you owe them.

If you borrow are refuse to pay back then it means you're a dishonest person!

So are you trying to tell me that if you borrow money from your friend or brother you will refuse to pay back the the loan simply because the person who lent the money is not a bank!

The interest rates of loan app is too much even if u borrow 700k to pay 1.2m and u catch one big money the next day na still 1.2m u must pay..very annoying.

Sonofgod1990:
They withdraw it immediately I loaded money into my account...

Even when your loan wasn't due?

I have taken loan from Okash , but couldn't pay on the D-day , so I ran into interest of #2,500...

I was called by one of the agents that if I can pay the whole money and #1500 of the interest, that he can take me off from the debt, gladly I sourced for money and paid off, asked the agent to show me where he has removed my account, he said he has done it....this happened in September 2023 when I was duped ..

Then in June 2025, one Okash agent called me that am owing their company the sum of #25,000 being accumulated interest for my not paying the whole #2500 , so the #1000 left of my Interest accumulated to #25,000..

Imagine such nonsense, so I asked her, why did you wait from September 2023 down to June 2025 to start calling me of your app that I have deleted and forgotten I ever used since 2023, she said they didn't want to be bothering me of the interest, and they had to leave it until it accumulated to #25,000 from #1,000 as I noticed the former agent that ran the stuff for me didn't do anything but just scammed me ..

I have warned them to stop calling me on phone that am not paying any Fadden, they had to resolve with credit bureaucracy that I should try ans pay half of the money ....

Paying half of what I dont know how it accumulated

Why didn't they inform me when the money rose to #2,000 Or even #5,000

Why #25,000 That they had to start calling me to pay them

Please do well to run away from those people, they do help but their help is that of the Devil ...

IamAtAnger:
Which sane person goes to bathroom with phone?

The guy who love to self service with his hands

MarkNsukkaBread:
Whether they are registered with FCPC or not does not invalidate the fact that you owe them.

If you borrow are refuse to pay back then it means you're a dishonest person!

So are you trying to tell me that if you borrow money from your friend or brother you will refuse to pay back the the loan simply because the person who lent the money is not a bank!

Looool! Your analogy is very incorrect. For you to give out commercial loans, you have to meet certain regulatory requirements. A Loan shark that isn't registered, is already dishonest. So why are they crying about someone else being dishonest?

Taking a loan from my brother or sister is not a commercial loan.

🤣🤣🤣

PapaNnamdi:
If Dem don record how me with garri and groundnuts dey discuss before I chop Dem, na Dem go clear the loan by themselves,

ayyoughurt:
It’s very important to know what you want to chook her hand into. Urgent financial needs can leads to destruction if care isn’t taken. It’s funny to me because I had earlier check on fair money to lend 300k few minutes before I entered the site, was just laughing when I saw the post. Was like this is for me. Total repay of 300k is 800k+. Nobody tell me log out myself because I was just thinking in my head, that this is outrageous and ridiculous. And I wan pay rent today/tomorrow 😂

Caveat Emptor
Beware of Fair Money
Fair Money Is Not Fair. Run Run Run🏃‍♀️🏃‍♀️🏃‍♀️

I have never taken a loan from that source before. What I have learnt is that those who take loans from them deserve the treatment they get. At some point in my life, it was a challenge to recover not less than ₦250k given to various people as a loan. Some of those people borrowed money from loan sharks and never decline in paying back because they don't want embarrassment. One of them who borrowed ₦50k told me that he forgot. Yet, he was paying the loan and interest on other loans. I'm sorry, I think most of them deserve to be dragged. My pastor once said that most people who ask for a loan don't plan to pay back. My mum also told me in 1988 never to loan what I can't give, but I didn't listen. I have learnt to say NO to people now. When I have I give.

These are loan sharks.

They are predatory usurers who capitalize on desperation to lure people into debt traps. They count on people defaulting so they can keep adding up the penalties to the interest which, when added to the loan amount, equals upwards of 80% of the loan.

They're making a killing... literally and metaphorically.

Sonofgod1990:
That why it's called risk

One of my Guy once said
Take d risk and join the billionaires

Or become really broke that you will be very scared to take the risk again 😂

Don't mind me I'm just trying to complete the quotes for you

highoctane:
Caveat Emptor
Beware of Fair Money
Fair Money Is Not Fair. Run Run Run🏃‍♀️🏃‍♀️🏃‍♀️

😂, definitely but I think branch is the most easiest one to borrow from... Followed by easy money

Loan Apps are devils gift to Nigerians. They used deceptive advertisement to lure innocent people into obtaining tempting loan far different from what's is on the app.. Please keep those video ads and asked them to meet you in court if you're currently in bondage with them. They operate illegal business & I don't care if they're approved by CBN. All na corruption. I personally know someone that borrowed 496k from EaseMoney Opay loan after several borrowings to build credit score. He finally was able to get a limit of 496k. Guess what? This person is currently battling with life situation as he could not pay back the loan. His business failed, properties gone and bad energy everywhere. I noticed that Satan used the loan as a spiritual loophole to dry him up financially using his weak foundation as a launch pad. Everyday 1% keeps adding up as late penalty fees thereby bringing his total debt on Opay to 3.4 million up from the original 589k he took for a 1 month duration. The incessant automatic phone calls, threat and text messages is what brought down his health.

For those of you currently trapped in this web of loan bondage, call your loan shark managers and agree on a term to pay up your original loan amount. Make sure there's an official agreement and ensure your account is showing you're no longer owing debt after clearing the original loan. Failure to do this, you're doom because this demons have your details and can break into your account unsolicited in the future. [b]Lots of Nigerians were owing NEPA and DISCOs several millions of naira through estimated billings and today those debts are wiped up forever. Apply same method to clear your debt with loan sharks. [b]When dealing with the devil, you used force and not begging. Loan sharks are in the same league as Nigerian politicians some foolish citizens worship day and night. I call them demons because how on earth will you charge an interest of 30 - 50% monthly for loan?

They are responsible for the high failure rates of businesses due to high interest burdens and tensions meted on their borrowers. If you lend your money to a loan shark as fixed deposit for a year, you will not earn more than 10% APR. If earning profit was that easy, why are they not offering Nigerians 30% monthly interest on deposit? LOAN SHARKS business template is worst than wickedness, blood money & gambling combined. They used intimidation, impersonation, fear and greed to financially enslaved Nigerians.

They have killed a lot of Nigerians through high blood pressure & rendered family hopeless. The guy I'm talking about was now looking like a skeleton. Most of these popular loan apps you know are owned by same operators & they keep changing names & flooding the internet with ads. That's is to tell you how stinkingly rich they have exploited Nigerians. Example EasiMoni and Okash are the same.

My conscience will not permit me to add interest whenever I'm privileged to help those in genuine needs. Fleeeeeeeeeeee from loan app Nigerians.

Goldbw122:
😂, definitely but I think branch is the most easiest one to borrow from... Followed by easy money

Easy or Easi moni

Curious345:
Loan apps can switch on your phone camera and microphone to record you without your knowing. Even while you're naked they can see you

You mean for transsion phones.

Samsung and Apple has high end security and unauthorized restrictive features.


No loan app can invade ya privacy easily