NewStats: 3,262,590 , 8,177,623 topics. Date: Monday, 02 June 2025 at 10:12 PM 2s2c4i

The Federal Lawmaker, representing Egbeda/Ona Ara Federal constituency, Hon. Akin Alabi has moved a motion the curtail the excesses of online loan providers in the Country.

The major pay day loan providers had earlier resorted to underhanded tactics like harassing the entire list of alleged loan defaulters and breaching their privacy in the process.

Hon Akin Alabi, in his motion stated that these companies have been operating outside the principles of fair and lawful processing of personal data as required under the Nigeria Data
Protection Regulation and other relevant provisions on data protection in Nigeria.

Hon Alabi called on the CBN to provide better regulation for these financial service providers, and for the the National Information Technology Development Agency (NITDA) to ensure strict
adherence to the Nigerian Data Protection Regulation by all online loan providers.

https://leaders.ng/akin-alabi-moves-motion-to-stop-harassment-by-online-loan-providers/

It seems he has been a victim of these loan companies

He should move a motion to shut down bet companies that manipulate customers' tickets in order to dodge hooge payouts first.

Akin said , One Sokoloan company sent him message that someone on his list collected loan and used his name as guarantor.

And that the sokaloan company been calling and sending him threatening messages. But unknown to Sokoloan, the man they've been calling and insulting s a serving House of reps member..

he just want to kill these SMEs. Nigerians don't like paying back loans. how to do you expect the loan companies to get back their money without collateral. he should instead criminalize taking loans without paying back.
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The wise would wonder how a criminal is publicly onishing other lesser criminals, later they toast to success and mock a whole nation.

Maybe this will help

Ok

Hiss I thought it was the nairabet guy

Loan companies should find a better way of getting there money other than blackmailing there clients. It doesn't make sense. Better still they should stop the rubbish no collateral loan and start collecting collateral before loan disbursement. Blackmailing is nonsense. People have been surviving without the loan companies and if they leave our space, people will still survive. God will punish them
This loan companies use diabolic means to tie people down. Once you collect a loan, you will keep collecting till you die except God intervens in your matter. To keep themselves in business, they need to tie you down so that you keep on borrowing and paying and borrowing

Smart businessman.

His customers (Bet addicts) will be able to take loans from all loan apps without paying and play more bet.

Waiting for you to move the motion against poverty, betting and gambling before fooling around Mr Baba Ijebu jnr.



Nobody forced anyone to collect money from loan sharks branded as lending companies.

If you are sane enough to collect, you should be saner enough to repay the damn loan.

Before they blame the loan apps they should,

1. blame the OniGbese wey go collect loan without intention or preparation of how to pay back.

2. Are the defaulters daft? Or they can't read? Didn't they see and conditions? Yet went ahead to agree to all the of the loan platforms?

3. Is like most of us don't understand that most of these loan apps are someone's business. They have bills to pay, staff to pay and all that.


How then are they going to get their money back when there was no any collateral on ground before loan was issued to OniGbese?

How is that my business

When you begin to wonder how daft our lawmakers are, you will suddenly develop migraine. You can never hear or see them come up with mind-buggling ideas to drive the nation forward; it's always ways to kill someone else's business.

Does he want the so called online loan companies to fold up because to him they are charity organization?

Alabi getat!

They should also move motion on how money will be deducted from defaulters and also abide by the and conditions of the app dem no use rope come drag dem....

JavaScript90:
he just want to kill these SMEs. Nigerians don't like paying back loans. how to do you expect the loan companies to get back their money without collateral

You call Soko Loan SME?

They should close up.

The business is not doing bad because everywhere you go is one new loan company or app or the other so that excuse that Nigerians don't pay loans is not tenable.

Nancyfa5:
Ok

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DoggoneDogg:
He should move a motion to shut down bet companies that manipulate customers' tickets to dodge hooge payouts first.

Manipulate how?

If I own a loan company, you’ll have to assent that if you default Payment, I have the right to take your life..

These politicians are useless, you guys make life hard for people and at the same time want to shut them up. These loan companies are like heavens these period to some people and those people will still have the mind to default..
The politrickian should be more concern about not using his betting company to launder public funds...

He knows at the end of the day, most of the loaners punt with the money and lose, especially penaldo fans

He should also sponsor a law to go e loan companies the right of set-off from a borrowers other s wherever they may be found

What? Nigerians are irresponsible bunches!
Those companies didn't force anyone to come and take loans. Will Akin Alabi pay when a borrower defaults on loan repayment?

PrinceOfLagos:
Akin said , One Sokoloan company sent him message that someone on his list collected loan and used his name as guarantor.

And that the sokaloan company been calling and sending him threatening messages. But unknown to Sokoloan, the man they've been calling and insulting s a serving senator.

Senator or Honourable?

.

E reach Oga side!! .
Abeg since they wan deliberate on this law, who know any loan app wey fit allow me carry #50k without collateral.
Hunger wan Kee person for Uniben

Seriously, it's about time!!

One thing they don't even know is that calling people on list of their clients scares potential clients from doing business with them.

I'm owing some good sum and patiently waiting for harassment. If they do, that's it! I ain't paying shit no more!!

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JavaScript90:
he just want to kill these SMEs. Nigerians don't like paying back loans. how to do you expect the loan companies to get back their money without collateral

He doesn't want to kill them or stop their services,he just want to curtail their harassment..