FG Finally Takes Action Against Online Loan Apps -FCCPC

By
Economic Confidential
-
FIRS

FG Finally Takes Action Against Online Loan Apps -FCCPC

The federal government of Nigeria has finally taken steps to crackdown online loan apps parading as lenders in Nigeria.

The federal government says online loan companies have caused a lot of damages in the country through invasion of people’s privacy, breaching Nigeria’s data laws among others.

Federal Competition and Consumer Protection Commission (FCCPC) reports that, the FG has written to Apple and Google stores to shut online loan apps down so that people will no longer be victimised.

Also Read: FCCPC Demand Legal Action Against Illegal Digital Finance Firms

FG says “In addition to what you are seeing here today, the FCCPC has also issued multiple orders today. Two of them are going to vendors: Apple and Google stores where some of these apps are available. We have asked them to shut these companies’ apps down so that people will not be victimised anymore.”

Also, many Nigerians have blamed some Nigerian commercial banks for accommodating these shylock loan companies.

In line with this thought, FG has also asked these banks to freeze the accounts of illegitimate loan companies. “Secondly, some of them (the orders) have gone to the bank, asking them to freeze the accounts used by these people.

These criminal loan sharks that parade google playstore have become experts in blackmail and blatant invasion of peoples privacy. They have been accused of employing different types of mannerless and uncultured characters as workers”.

The federal government have also insisted that most of them are illegally operating in Nigeria. Therefore, the FG through an Inter-Agency Joint Regulatory & Enforcement Task Force of FCCPC, NITDA, ICPC has raided some of the loan sharks offices in Lagos state.

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125 COMMENTS

        • This idiot people will ask when is your payday you will say on 31 of every month the will give you a loan to pay back in 7days, whit supper high interest, is that not Wickedness the worst is that they will start their alarm a day before the due date, anybody that work whit sokoloan should go and tell them that I said they will not see that 11k again if they like let them send my name and pictures to CNN or AJEZERA I will not pay it until they beg me and send apology messages to all my contacts if not they should kiss their money bye bye

          • Your loss not thiers
            When you saw the high interest why did u continue when you can’t meet up, you people will see it is high and still going ahead like they had a gun yo your head to take the loan then after you can meet up y you will come online and be saying all sort of rubbish they don’t give salary loan the due is clearly stated on the app before the loan will be granted and if you wouldn’t be able to meet up don’t take it rather than complaining of high interest which you were fully aware of before going ahead but out of desperation majority will go ahead and after they have defaulted they’ll start looking for excuse to justify their incompetent attitude.

        • There are alternatives account number on the app for payment and collectors are allocated to clear the payment on the due dates if you are not paying from the app
          But y’all customer make it hard later on go online and Tag Loan companies as a bad organization

          • Hello see your staff are mannerless am saying it openly. I never defaulted and I was blackmailed. It’s gave me a trauma and you know what. The guy who treated my record as defaulter called me and abuse me like. A thief , chronic debtors etc beside you people calling others bad name are the real thief, I will remind you later. Because of the overage you want to collect on your customers. You blackmailed me when I don’t owe you. I laugh for him. What a bad training you gave to your staffs.

          • You’re a very stupid person. Continue to talk cos of the stupid job you’re doing. Fraudulent tax abi na debt collector that won’t die well

          • what about those sending messages on your due date and blackmailing u after payment. what about insults very early on ur due date ? Will thess devil’s send apologies for defamation. are justifying that defamation is right?
            Does that mean u are guilty of these too?
            What about deciving u to pay part to stop interest and you discovered you are still gonna pay double of the loan after part payment?

        • This loan lenders are fraudsters, invaders, hoodlums so to mention but a few. They had already made it difficult for people to be able to pay back by getting high interest rate. No one wishes to obtain loan, but if the need warranty, why not?? I’m no one would have the intention of not paying back. Life is all about risk and money wait for nobody. But the truth is that the loan apps themselves are criminals. Is it when you defamed people’s identity, calling and sending harassment that will make them pay?? Infact it is really really annoying and life threatening. Many people carerer as been ruined that way. How do you pay when they ruin your life??? I don’t think there anything wrong defaulting, it’s a normal thing and it will still remain normal. Infact, banks would have put many of us in prison who had or have access to millions for business. Kudos to the legal banking system. Commercial bank please do your assignment right, so to kick these hoodlums out of market. If any Try such with me, all I tell them is let the harassment settle my debt. Since you know how to collect your repayment better than I can. They should be thrashed out.

        • Hello if you look at the good side look at the bad side , sincerely speaking at times does loan apps helps in case of emergency because sometimes it’s hardly to get money from your fellow so called Friends and family.
          The disadvantage of it is that the loan is at high interest sincerely speaking because if bank are giving you loan the interest will not be as huge and the loan tenor is not pleasant just imagine 20k to be paid in 14days with intrested of 7850N this is wickedness, listen to me those people collecting that loan they have no other alternative they just do it to survive or to clear and emergency financial matter related issues.
          If I may as you who what’s to be a debtor? Is only a fool that want that and if someone collected the loan when he comes to pay back that’s when he/she will discover that the loan is at high interest and the person will began to think other wise,some will pay some will not “instead of the company to please with the debtor speak in a good and understanding manner they will go ahead abusing thier customer or send a message to all contact of an obscene instead of tell that person to return which they have give him /her or lower the interest they will be busy accumulating the loan adding some amount to it .so please let federal government should just shut them down down kawai

      • If not that you’re dumb…why is there overdue charges, isn’t it for those that can’t pay on the due date…. Yet you people will add overdue and still be calling contacts for nonsense

    • They have reck my business, I av been paying and paying and everyday dey keep adding 3000 naira everyday… It like a never ending repayment loan. Naira plus and cashlion, addmoney… Gotoloan.. and dey are removing money daily from my account even after blocking my card.. pls we plead the federal government to help us orphans and other kids running small business. For years I av been in prison on unfinished loan.. I got 12 thousand nairA and at d end of the day I have paid almost with all my business. My store is empty.

      • Same thing happened to me, at a point i decided not to pay anymore, they called and send messages to my contacts but i don’t care, thank God i didn’t develop high blood pressure cause of their treats.

        • You are only trying to get away with your own evil
          Why take a loan and not pay up on due date?
          Why let it accumulate so much before paying 🤦‍♂️
          Blame yourself not any loan app
          People who pay back are not complaining
          The only complaints is the high interest.

          • People should Rob the bank because they borrow money ? That’s madness borrow to pay back in Seven days to you it’s makes sense ?

          • The cause why people find it difficult to pay is because of your high interest 7000 to pay 12000 for 6days is it good.u borrowed to solve problem and you people are adding more problem

          • every loan workers are criminals on their own. Why are ur demons so mannerless that a day to due date they already insulting debtors. Why are they hiding there identity. why will the copy another company legal name and logo.?
            Why the black mail and they still demand that u pay? Why will you give loan of 10k credited 5600. and as for payment of 11500. sir is this not demonic? Those working in this organization are all criminal and let me tell u. you are not doing legal work. you are not different from fraudulent people. stop defending what is wrong.

  3. Federal Government should finally hear our cry because this people are still operating and they are criminal and devilish in nature who join and came about to kill the nation and destroy all….we don’t need them in Nigeria they should pack and go other countries,,,someone I know committed suicide because of them…e.g of the loan shark.9credit,sokoloan,vcash,gocash,9ja cash,fastmoney,deloan,cyclycash,cashsea and so on.

  4. Mint loan, flash cash, docredit, Afri cash, cash naira, pro cash, hcash, hi kash, cash sea, 9cash, evemo, ncredit, cash mall, found one, flash cash, cash lion, ox loan, loan naira, 9credit, credit all. And so on. These apps are owned by less than 8 persons. Imagine collecting interest of 8000 naira, for a loan amount of 24000 naira every week from 100 Nigerians. Hmm it’s well all these gain by one foreigners and still go ahead collecting this same data of these people and defame them.

    • Sokoloan is more useless and wicked. Naijacash, Truenaira, Cashlion, etc. Even if you have AVE been their customer for long. The single day you default they forget your past record and defame you. They are shylocks

      • My prayer is for the Lord to inspire our leaders to make the business environment friendly. If not wicked people will continue to take the advantage of the hostile nature of the situation. Other way way round, we should be more focus, do empirical analysis of any financial matter before embarking on it. God renew our noble Country in Jesus name.

  5. I think there’s something the government isn’t telling us, the most you say you are dealing with the more deadlier they become. Why? Something isn’t adding up. There are even more aggressive and mean than before.

      • True. Imagine loosing all your prospective clients for just 3k. Sometimes u pay and they refuse to clear you and still go ahead to defame you by sending incriminating messages to all your phone contacts. A guy drank poison cos of these people but luckily he was seen and rushed to the hospital. They sent out messages which made him loose his Uber car. The owner of the car refused to release the car to him after receiving a message from these people. It’s better to die in hunger but with your dignity than to take money from these people.

  7. Pls Federal government should not only stop on those ones defaming but also those with crazy interest rate,like Fairmoney will not defame any one but their interest rate should be put under control,, they should be made to agree with the regulated terms and conditions of loan interest in Nigeria,, CBN has a lot to do here

  8. Credit wallet my dear is the worst, you will take loan from them and late payment will charge as high 30k, even when they know you are working with FG and payment of salary is not consistent in the month. Please credit wallet should be visited as they go as far as remitter and ippis. Please help us

  9. All these online loan apps that govt raid re still working underground like ,MINTLOAN,DELOAN,LCREDIT,FASTMONEY,SNAPPYCREDIT,ZUMACASH,EASE CASH,EASYCREDIT,CREDITALL and so on like that…Deloan (+2349066396918) send an horrible message to my contacts yesterday nd also claimed to report my cash to LPA (legal partner agency) to labelled me as fraudster

    • True. Imagine loosing all your prospective clients for just 3k. Sometimes u pay and they refuse to clear you and still go ahead to defame you by sending incriminating messages to all your phone contacts. A guy drank poison cos of these people but luckily he was seen and rushed to the hospital. They sent out messages which made him loose his Uber car. The owner of the car refused to release the car to him after receiving a message from these people. It’s better to die in hunger but with your dignity than to take money from these people.

  11. I’ve been begging them to give me little time to sort them but now they have started sending messages to my contacts telling them I’m a chronic fraudster, I locked myself up in my room yesterday weeping profusely, pls help my soul before I finally die ooo

    • Rukayat the whole world know them. Stop crying. I was to pay naijacash 13,000 I paid 10,000 begged them to give me time. That same day they started WhatsApping my contract that I defraud them. Imagine that

      • We will start cutting their heads soon. They think they are invisible but we will start giving their families what to cry for soon since they decided to use Chinese business to ruin people’s life here in nigeria, we need to start beheading them one after the other.

  12. Mint loan, ncredit, ncash, cash sea, do credit, deloan, cashbus, bitcoin, carefinance, easycredit, sokoloan, loannaira, chacha, lucky loan, fast cash, bell loan, aimloan, easemoni, hcash, icredit, heroloan, ngmoney, procash, zumacash, 9credit. There agents are agent of darkness and progress. They have tarnished my image to my contacts, worst of it all if you pleas with them to have patient with you that the money is not available at the moment, they will rain insult and causes to there customers and imidiately they will use ur picture and write wanted on it and tag one a fraud star and a chronic debtor, one can’t be trusted with money that you are a thief and on the run. Please FG should come to our aid and put a stop to all this devilish act to masses. They should all be close down cos they are very dubious to the call. There interest rate is bloody and devilish for only 7days to pay back. They are not helping at all instead they add more sorrow to your problems.

  13. This people are still operating go to play stores you can still see their app , FG need to block any IP address Link to them as they did with Twitter their account should be blocked by banks their should be a jailed term for them .

  14. Why would you borrow money and not pay back, some of you borrow from about 5 apps at the same time, how do you intend to pay back, these loan apps is not the problem, you all are the problem of yourself, if you borrow and pay back, none of them would go to the extent of doing all they do to get their money back, most of these agents are also under pressure from these so called Chinese that employed them, face your country bad governance, if there is provision of jobs, most of them won’t be working with these Chinese, because the work itself is draining and exhausting, you’d see masters holders working with these companies, that is how bad the country is, if you know you can’t pay back, don’t borrow, it’s that simple, some of you are really fraudsters, because you borrow without intention of paying back, and they go out of their way also to make you pay back. Because they also have target to meet, for these so called Chinese that employed them, and treat them anyhow, because our government has also sold us out.

    • I disagree with you. Some don’t even wait for the day you are due before calling you and threatening you. When I am less busy I will forward some to you. I owed 9jacash 13,000 paid back 10,000. Promised to pay the balance later. That same day the loan officer started WhatsApping my contacts with my picture, BVN, all personal details. A friend ask me if I am sure it’s 3000 or 3million. The loan agents have commission to collect from every loan recovered. They change them after 3 days and some after a week. So anybody given an account wants to recover the money before they put another person

    • I blv you’re one of their agents that’s y you’re saying this rubbish, it’s obvious that you’re one of those idiots that they trained mannerless

    • Money like u. You guys are very wicked and inhumane. You force money into ones account without even applying for the loan with a large interest rate under one week to pay back. You guys are fraudstars. Now u tagged my as a thief mainwhile u guys extorted me till I couldn’t pay again. They collect money from my account without my notice. Now who is a thief?

    • You are talking trash, its so obvious u are one of them, agent of darkness, don’t worry u will sure be rewarded by ur evil act of tarnishing once image. Continue talking rubbish.

  15. How do you people know all these apps name, just imagine, how do you collect money from like 8 apps at the same time, and pay back, how is that possible, borrow what you can pay back, but readiness won’t allow some people, because the money is easy to collect, to pay back is problem, when I get messages about some of my contacts from these app, and try to reach out to them, some even tell me, it’s the money the white owe our forefathers they collected, that they’re not paying back, just imagine that kind of mentality, and we say we want our country to grow, how is that possible, when we’re the main problem ourselves, if you borrow money from these apps, pay their money back, moreover you read their conditions before collecting the money and agreed to it, so why cry, when you breached the agreement yourselves

    • I blame the Federal Govt, they have no monitoring agency, how could such illegal outfit stay that long in a regulated system… whatsoever they are doing to get back their money means little compare to the fact that they are illegal, shutting them down doesn’t mean such cannot be repeated some years away, the owners should be prosecuted and allow to pay heavy penalty in term of fine or go to court, next time no one will try such illegal outfit because the masses are vulnerable.

    • You are senseless for saying this, pray not to have a problem that will warrant you to borrow money from them. Cos you won’t be able to stand the shame and disgrace those hoodlums will give you. Rubbish

  16. It’s very unfortunate that the government allowed this people to prey on us. last week I had a very horrible experience with this fraudulent app called aim loan a.k.a fin tech.this people have the reputation of defaming people.on the app they wrote 46k to pay 49k only for these thieves to disburse 45k for me to pay back a whooping sum of 66k a lady called and I tried to make her reasonable by reducing the interest she declined and I refuse to pay only for these thieves to send defaming messages to all the contacts on my phone.although I have sent the money . I learnt my lesson the hard way.

  17. I think FG should take quick action on these wicked people (online loan platforms) they are very wicked. FG should instruct Apple and playstore to remove them and also order banks to freeze their account because they are still working and causing problems for many Nigerians without excluding me.

  18. They sent me message on WhatsApp this morning claiming the federal government gave them permission to publish information and my picture on social media.

  19. Good Day *Damilola Rukayat A.*,
    The Nigerian Consumer Protection Commission (NCPC) has reached a solid agreement with the independent Corrupt practices and other Related Offences Commission including The National information Technology Development Agency and The Nigeria police force that all customers owing all loan application is expected and mandatory to pay the principal amount and 70% of the overdue charges.
    We instruct all Nigerian that is owing them to do as we agreed with them or proper litigation will be proceed against their customers.
    Note that the presidential task force is now involved with the regulations of their activities.
    Name of long overdue customers will be published across all social media and national publication commission will be published on DAILY NEWS PAPER 📜📜
    SIGN BARR. O. KOLAWALE
    I got these from them

    • Don’t bother yourself, that is a very misleading notification. Such will not and cannot happen. They are all bunch of unscrupulous and unempathic criminals.

  20. Very wicked people and see what Easy Credit sent just yesterday [3/22, 5:36 PM] +234 705 083 9438: RESTRICTIONS FOR DEFAULTERS🚫🚫🚫

    It was brought to our notice that you have duped a Chinese company (EASYCREDIT)

    This has been labeled as a FRAUDULENT ACT, hence strict actions must be taken!

    Despite several attempts to reach you, you have bluntly REFUSED TO PAY!

    At this juncture, the legal team of EASYCREDIT is going to proceed with the following sanctions:

    1. You will be served a BANKRUPTCY NOTICE

    2. You will be declared INSOLVENT and all his assets will be liquidated

    3. You will be served a MAREVA INJUNCTION by the court until we receive his repayment in full!

    Be informed that you have barely 1 hour from today to repay your outstanding loan with EASYCREDIT.

    If by 6pm we have not gotten any response from you, we will proceed with our actions.

    BE WARNED!!!!!

    Head, Legal Unit
    EASYCREDIT
    [3/22, 7:08 PM] +234 705 083 9438: You have failed an agreement with the management and you also duped us by refusing to pay your over due loan till now, you have proof to us that you are a scammer, legal action and due process will be followed to deal with you, your debt profile will be forwarded to your banks as a chronic debtors and you will be ban from obtaining loan either from the bank or any loan apps, Embargo will be lay on your bank account in the next few hours, your bank account will be having issues any moment from now, your bvn will be on auto debit, all ID cards, bank accounts link to your bvn will be blocked in the next few hours, all your bank accounts with your bvn will be restricted from now on, you have proof to the management that you can’t keep to an agreement with them, your plan is to scan us and run away with Easy Credit Money, your pictures and debt profile will be sent to your bank as a proof of your debt, please don’t call or text for help!!!!

  21. Oloriburuku ni gbogbo yin, ee ni shorire

    Did you as well address the same blatant borrowers who has the zero intentions of paying back? Did you look into the issues of those who collect with the act of fraud?

    • I have refuse paying their money because i defaulted just for one day and i was pleading to pay the next day or better still do a part payment on that due day, at the evening of that same day messages were sent to all my contacts

  23. I have benefitted a pot from online Loans,
    I see No reason why FG should scrap it .the problem is with people that borrowed with no intentions of paying back ,I have been using 2 online Loan app , I have never had any issue with them ,I introduce a friend to it and he has been able to start pure water distribution with his car making average of 7k daily .FG should take over or authernative to it

    • God won’t allow u to default one day , and will see pepper soup 🍲,, u will know life is not a bed of rose… U sounding like someone dat has a perfect life journey without potholes.. weldon sir..

  24. Same thing happened to me, at a point i decided not to pay anymore, they called and send messages to my contacts but i don’t care, thank God i didn’t develop high blood pressure cause of their treats.

  25. They ban them, they ban them but they are still operating. Calling me 247 for a loan I have paid and they refused to clear up, adding interest to it everyday. If the government wants to help us they should if they don’t they should fucking leave us alone and stop lying to us.

  26. Honestly I all lost my job because of this devil loan app especially fast money,if not for the understanding and the circumstances within my working environment, because at the time they defamed me,I was been owned outstanding 2 months salary at work then, which actually made it an understandable excuse before my boss,so they should be scrabbed completely

  29. These people are evil, they should go pls, only God knows how much I lost on these loan sharks since 2019, only for me to fail once, they went and deforme me. God will judge them.

    • Go to you bank and hotlist your ATM card and get a new card from your bank. With this the app companies won’t be able to charge your account any longer. Always block any number u suspected is from a loan company. Lock SMS text from a them too. Block whatssapp messages from them too. They will get tied and won’t be able to reach you any longer. Again, any number they reach u with u block and block and block. Don’t pay back any loan. Nothing dey happen. Nonsense

  30. This is what 9credit sent to me,my due date is today and am already getting a threat messages ATTENTION!!!!!!!!THE FAMILY WITH NAME: ……. Phone: ……. IS AN EXISTING CRIMINAL ON THE RUN THAT DUPED A COMPANY (9CREDIT) OF THEIR MONEY,THE PUBLIC IS ADVISED TO DISTANCE THEMSELVES FROM HIM AS HE HAS PROVEN TO BE DUBIOUS . Pls contact us if you have any information about this person as soon as possible, else the company will proceed to the next action, because this person provided us with all your details and if you are not aware of this loan you can as well call the person to delete your information in the app,, because soon the person pictures along side your own pictures will be posted on all social media in the next (5pM)…..9CREDIT MEDIA TEAM WARNING

  31. This is another message from 9credit my due is today I took loan of 5800 to pay 7900.DETAILED WARNING TO YOU!!!We have Repeatedly warned you to make your PAYMENT AS YOUR LOAN IS BECOMING OVERDUE FOR PAYMENT BUT YOU SEEM TO PROVE ADAMANT AND WE DETEST SUCH ACT ALOT As it Gives us the Impression That You are A FRAUDULENT PERSON..Since you have refused To Repay Back Your loan with 9CREDIT..By 8PM…BE READY FOR Drastic steps THAT WILL be taken against You..We are ready to Activate the first step (ROBOT WEEP) to Send some Embarrassing Automated Messages to all of your FAMILY AND FRIENDS i.We will bear no responsiblity over any damage made to you.Thank You!!!..SAVE YOURSELF FROM EMBARASSMENT AND GO PAY NOW!!(9CREDIT EMBARRASSING UNIT)

  32. I fact this people offering loan are wicked, they will say it is 1% interest rate which will make you to opt in for the loan but at the end of the day you will find out that the interest rate is about 150%. I took a loan of 5000 from one of them, I end up paying #12, 500, after paying the money it remains #100 to balance up, after 3 months, they sent me a me that my overdue is #1,080, because I don’t want embarrassment, I sent #1,100, and I sent them the payment generate receipt, up till now they did not clear My loan. Sometimes last year that I checked the loan, it has accumulated to #5,900, I just ignore them, let the publish my name werenever they want to publish it. Thanks the government for this.

  34. It’s becoming crazy by the day. Fastcash made someone to dispose a whole car due to threats of overdue repayment with all his contacts raided with black mail.
    Icoin separated a couple due to unethical conduct of their loan recovery agent.
    Don’t even talk of Hallocredit, if you miss a day, they will expose you to the whole world. Unethical practices, blackmail, invasion of privacy, threatening of live, slanderous statement, libellous moves etc are all their tactics. They will intentionally leave the loan to count without clearing, after it has accumulated, with a very unrealistic rates, they will start bombarding your contacts and start labelling you a frausters! Now, who is fraudulent? Even if you’re paying them gradually, you will still be labeled a fraudster. Haba!

  35. Last February 2022, i came across fairmoney jingle on Facebook, they kept disturbing me to apply for a loan.
    Since I need money to complete an ongoing project, I decided to give it a try, I downloaded fairmoney app and requested for a loan of #1 million, they offered me#150k and came up with different options, I quickly opted for decline which means rejection.
    To my amazement, few minutes after I declined, a message came that #150k had been approved,and disbursed into my fairmoney account, and I also transferred same #150k to one Godswill Ukwu, another message came within an interval of ten to fifteen minutes requesting me to pay up before 31march 2022.
    This happened on a Friday evening, I googled their address and went to their office at Ikeja , on getting there i narrated my all that i went through, they requested for my details and truly they confirmed all that happened, now, one of their staff who claimed he’s of risk management department told me i needed to pay the loan i didn’t get, I refused instantly and told them to trace and track which account the money went to, he promised doing that and also wanted to know if I was going to take any action Incase they were able to get details of that person which I said yes.
    The guy told me to wait and that they would give me regular update on every step as they progressed.
    Up until this minute the guy has refused to pick up my calls, but the first day we started this whole thing I was told they’ve been able to get the Bank the money was transferred to, and that the would send a mail his bank that the money came into Godswill Ukwu’s account through a fraudulent means.
    Now they disturb me every day to come pay the loan, in a summary I guess their staff or even their management knew about the fraud.

    • Sapaaaaa 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
      Sody o
      Dat one na juju o🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

  36. Take a break and reason this issue,you are not expected to lend a loan without having the intentions of paying back,it’s not fair as i urge you to put your selves in their shoes and feel it .as for the loan lenders,where the fault is extreme is the right they had to access customers accounts with bvn and all that to debit loan automatically,I think it shouldn’t be up to that,loan apps workers and every body only needs to understand that the poor economy of the country these recent days is a major cause of customers haste of getting loan lent just to survive with hopes of getting the money paid back but then take a look at the poor electricity of the country and try to understand that most people income depends on electric related gadgets and even for those who got generator,fuel is scarce …pls let’s just take it easy on ourselves,understanding matters a lot and it pays

  37. Infact. If I should seek redress from sokoloan it will become problem to them. I took loan and make sure I repaid very early on my due date but the next day I was black mailed whereas I have paid them up. I called the riffraff and I prayed to God that the recovery officer for that day shall henceforth never hear good news over his life and seed. Peace will be far from him and the job will be the best ever in his life. Adabi ti adeda koba si ilekun ojo na ri laye ni.

      • This so called soko laon are the most useless app in play store. I have been receiving messages concerning someone who even made part payment and you people continue sending her pictures damaging her image, telling people she is a thief and fraudster and declaring her wanted with her picture on social media. How I wish your threat of sending visiting the person’s house you have carried it out, at least to use some of your agents to teach you people a lesson.

  39. Im a staff of soko loan, we sign a document of destruction and we sold our souls to the devil to destroy anyone. I advice you not to pay a dime!

  40. Except she took it with the mind of not paying back. When she took the loan,did they inform her contacts? Let’s be reasonable please. Blackmail is not the option

  41. Lcredit are the most stupid people, I was to pay #27,500 twice and I paid #10,500 at the due date, the remaining #17,000 was paid days after the due date and they started sending embarrassing messages to my contacts calling me names I am not bearing because of the overdue charges of #4,000. I have told them to go and collect the overdue charges of #4,000 from my contacts they tarnished my image before them and the fools are still adding overdue charges to overdue charges. The best loan app are Branch, Fairmoney and palmcredit.

  42. Funnily enough, I saw a post on the social media where one of this loan company designed an obituary of someone who didn’t pay up on Time.
    They tagged him as a dead person. I really can’t remember the write up on the design though, but his picture was there, his age and they wrote that “a great lost of one of their customer who died with the sum of #15300. After defaming him ooooo

    The funniest part is that the guy owing them saw the post and he commented on the post that “if he pays back the money the obituary should be real for him” 😂😂

  43. LCREDIT is the worst currently
    Imagine 20k to return 28500 in 14 days
    Please Federal Government should do something about it.
    My surprised me most is sending a blackmail to my contacts , increasing the money daily
    I letter return their 20k the disturb me for the interest everyday.
    Wait let me ask a question , if it was you will you return a money someone blackmail you of??
    I can’t pay that interest because it wouldn’t unsend those messages to my contacts Thanks .

  44. I loaned 15k from Lcredit the said I should return 19500 which is 4500 interest to be returned in 14 days an my salary is 15k
    I return the 15k of which I collected on the day I was to make the payment , one of their staff texts me an I pleaded that I don’t have the interest she said I should pay the 15k that she will tell their Manager to clear my dept .
    I was thankful , to my greatest surprise after the payment she blocked me an dint reply me till today , after about a week the text me that my loan has been increased to 7500 , the text all my contacts that I’m a dubious fraudster, as if that’s not enough the are asking me to make the payment within 2days , me I won’t pay let my contacts pay since the we’re the one that loaned the money , Lcredit is the worst loan app have ever seen are the don’t even care to understand someone instead the think about interest everyday , please FG should do something about it 🙏 .

  45. *We want to let you know that your reluctance not to pay the debt will result in* *EMBARRASSMENT and DISGRACE for you,* *By the time your image is circulated all over* *media and you are being Tag with FRAUD and CRIMINAL is that when you will pay*. *is until your Families*, *Friend, Business Partners,* *Colleagues, or Co-Workers begin to inform* *you about where they see your picture with LOAN DEFAULTER AS A ONLINE FRAUDSTER* *and ABSCONDED with the Money*. *Is it until you are BLACKMAIL You want to pay. Until Your image is sent* *to you to see as WANTED.* *You want to use Law Enforcement Agency to be looking at* *You.* *You will make it happen You have from now Until 1pm to Make repayment today.* *Failure to respond You May Regret overlooking the debt.*
    *Head Of Publicity*

  46. They are not even denying that they blackmail people.What they actually don’t know is that,most people will never pay after being blackmailed and it will be their loss.

  47. I sincirely commend the effort of CAN for reaching out to all Nigerian and to stand as a voice of the voiceless and also to make them know that the government is fully aware of their operation in the country because office of the accountant of the federation deduct civil servant salary and remit those shark loan and please this are the people involve in such illegal activity. Kindly speak for the poor, speak for the voiceless, speak for a Nigerian.

    • I don’t care what anyone says about my decision not to pay back my loan of 122k from LCredit. They go pack commot for this country. They ruin my life after been a good costumer.

  48. The cause why people find it difficult to pay is because of your high interest 7000 to pay 12000 for 6days is it good.u borrowed to solve problem and you people are adding more problem

  49. Lcredit are useless pls nigerians they have change their name to cashigo again ooo , pls be ware , they are bad , mad , add ×3 to ur loan as interest on what u borrowed .

  50. They are all scam, l credit, fastcash, cashere, cashing, sokoloan, etc , they have sent deferent messages to my contact numbers that I stole company money, and they still want me to pay

  51. LCREDIT/CHICAGO HAS DONE IT AGAIN
    I WAS OWING THEM #15K TO RETURN #19500
    SO WHEN IT WAS DUE I HAD NO MONEY BUT ONLY THE 15K, I CHATTED WITH THEIR STAFF AN THE ACCEPTED TO CLEAR THE DEPT DUE TO MY CONDITIONS, ONE WEEK LETTER AFTER MY PAYMENT THE DM ME AGAIN TELLING ME THAT THEIR INTEREST HAS INCREASE TO #7900 FROM #4500, QN THE STARTED EXPOSING MY PRIVACY TO EVERYONE AROUND ME EVEN MY PASTOR AN MY SCHOOL HOD’S ,MY LECTURERS ETC .
    NOW I DECIDED NOT TO PAY , THE REPORT TO MY BANK AN THE MUMULY LIMIT ME FROM MY BANK, OK 20DAYS NOW I SAID IM NOT PAYING MY PASTOR NOW DECIDE TO PAY FOR ME YESTERDAY, DOWNLOADING THE APP TO REPAY THEIR INTEREST THE SAID MOBILE NUMBER DOESN’T EXIST SO THAT I WOULDN’T BE ABLE TO PAY ON TILL WHEN THE ARE SATISFIED OF INCREASING THE INTEREST, BUT THEY ARE STILL DISTURBING ME .
    PLEASE FEDERAL GOVERNMENT SHOULD DO SOMETHING ABOUT THESE PLEASE.
    NOW THEY’VE CHANGE THEIR NAME AGAIN TO CHICAGO BLA BLA BLA I DON’T CARE.

  52. Wetin tire me na dis compound interest oooo. As if the over due charge saga is not enough, they also compound the interest….. For some time now I have been trying to bring down my loan, but it’s not going anywhere…. After making some payment, few days later, it’s as if I didn’t make any payment

  53. To be honest loan apps are posing a great threat and breaching of data base.. Federal government isn’t doing anything regarding this issue. All loan app ought to be banned from operating cuz of their illicit, illegal, inhuman act when it comes to getting their fund back from customers.. Always know that without us there won’t be you guys. The loan was taken from you and definitely we will pay you up. Once you ruined the image of loanees, how do you expect them to pay you up..

  54. To be honest loan apps are posing a great threat and breaching of data base.. Federal government isn’t doing anything regarding this issue. All loan app ought to be banned from operating cuz of their illicit, illegal, inhuman act when it comes to getting their fund back from customers.. Always know that without us there won’t be you guys. The loan was taken from you and definitely we will pay you up. Once you ruined the image of loanees, how do you expect them to pay you up..

    Loan apps like Lcredit, loan personal cash, true naira and so on should be banned from operating..

  55. initially i thought loan apps are helping latter i found out that thier purpose is to run down citizens wether you are a salary earner or a businessman.Thier Adverts on You-Tube and Other Social Medias sounds facinating but on the contrary they are only using that to decieve citizens into thier financial dooms and Defaming of reputations.For-Instance i fill thier form on line telling them when i get paid monthly and the range of my salary and they loan me money close to my salary and expect me to pay within a short period of time(6-7days) with a high intrest rate.To me that is 419.Unfortunately if one couldnt pay on the due date due to the periodof time given to loan- Applicant they defame ones personality to all the contact as well as threatening such fellow.This Act is Totally Unfair And Unconstitutional

  56. Pls help me ohhh sokoloan people just star sending messages to all my contacts now and all over Social media pls help me ohhhh am dying of depression I can’t hold myself pls help ohhh

  57. Faimoney
    N172,000 to pay back N339,000 that’s about N166,000 interest
    Well, I was paid for an Lcredit loan I didn’t collect last year even with interest.
    I took this loan but I’m paying back my money when I have it, not the interest and that’s my final answer.

  58. Is better to shut it down because some will not let you know the amount their lending. And the interest is too much

  59. I don’t blame the sokoloan agent, it’s because Nigeria is a terrible place other wise you would have been locked up and your fraudulent company for defaming people unjustly, Fast money defamed me twice on my due date after insulting me, but very soon all of you will be closed down

  60. Well I have really heard alot from my fellow nigeria..but please you loan app should close all the old Dept and start as fresh bcoz.the interest you people are giving is too high,and your staff or the account manager doesn’t know how to talk to customer.even do the your customer was not able to pay on time there is a way you address the person…not you don’t want to pay the money ehhhh.i will report you and post your picture to the media.no is not good… please train your staff please bcoz me am still a owning them almost 200k but I believe I will be paying gentle if they remove the interest…but if o na no remove the interest.. PROBLEM GO COME INSIDE

  61. oloribuku oloshi ni won it will never end well with them this people are wicked sons and daugthers of beast they will suffer here on earth and still go to hell and suffer it will never be well with loan demons cash farm, true naira, cocoloan expecialy this cocoloan people they are animals in forms of human.

  62. All of them are criminals,I will only pay to fairmoney because it is legit.
    All those dirty loan apps I won’t pay anything.
    I will just destroy my debit card and phone number stop using normal apps and do crypto.
    Nonsense.
    Goats, criminals.

  63. All of them are criminals,I will only pay to fairmoney because it is legit.
    All those dirty loan apps I won’t pay anything.
    I will just destroy my debit card and phone number stop using normal apps and do crypto.
    Nonsense.
    Goats, criminals.
    They are so heartless

  64. As for me… To default is not a crime, but to defame me is a crime. As for me, once you defame, I use to tell them…. Forget your Money!!! 80% Nigerians already know that this apps are scam. Forget the shame… Send bulk to your contact or post on your Facebook. Na loan I take, I no run, I scam. If they defame you, report immediately to the necessary authorities even your bank. I will never pay after defamation. Na Ogun go kill any loan slave officer that comment under my message.

    • Please I want to know, is it possible to still get a police certificate report even if I owe this loan apps? Will it affect if I want to japa out of Nigeria?? someone should please reply 🙏

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