NewStats: 3,261,255 , 8,173,535 topics. Date: Wednesday, 28 May 2025 at 05:08 PM 3ty49

nedekid:

Where do you think the term "loan sharks" originated from.
Besides, you have pay day loan establishments all over the world. UK, US etc. They are present there and you pay a higher interest rate than the regular banks.

Do you know the meaning of payday loans?

Is a 7-day loan a payday loan for everyone?

What do you mean by exploit? You open your phone, searched the app, ed it. The applied for a loan, saw the and accepted. You had an option to reject it. No, you took the money. When it is now time to pat, you say you are exploited.
Laughable!

It is exploitation when you take advantage of someone's predicament to cheat them.

These loan apps became popular during the COVID-19 heightened periods. The operators know that many Nigerians are hungry, and that the government does not have effective welfare packages, so they came in to benefit from the situation.

Haba no job and people are trying to make ends meet without killing or robbing and they are still being frustrated....what kind country is this. So if they close down online loan and banking app....what do you want them to do next ....is it not better to simple approach them to have an association and for proper monitoring than close them down....haba

Comedian2019:

They are up there, never on your soil.

nedekid:

Even if the duration is 1 day, one has the option to reject the loan.
You cannot take it, enjoy it, then to fufil your part of the bargain move the goal post.
Nigerians, even if you give them 1 year to pay loan if 10k, interest free, will not pay when due. The will find excuses.

May God never let you be in urgent need.

Some of you lack empathy because God blessed you well enough so that you don't need to borrow.

GloriousGbola:


there is an uber thread made by uber drivers. it is full of horror stories of nigerian customers\s who make up stories or send fake alerts.

sometimes they have to gang up on the debtors and harass them to pay. it is so bad that i usually wait to double check that any uber i ride has received alert

do not try to make it look nigerians are some innocent exploited victims in this

we know exactly what we are

multiple finance houses and banks have also collapsed because of delinquent, malicious debtors. the US you keep referring to, how many banks there have failed because of delinquent debtors?


https://www.youtube.com/watch?v=PDylgzybWAw

if your claim is that they are outside the ambit of the law, don't worry. the market has been identified. they will be back, they will operate within the law and buy off some nigerian senators and continue where they left off

Continue from where they stopped?

The day Nigerians will reason their matter, it will be worse than the violence of the EndSARS period.

Why do you think that they don't disclose their locations? Because they know that there are many Nigerians waiting to treat their fuckups.

How then do you explain those who have never defaulted, but defaulted once only to be defamed?

Please also kuda bank flutterwave.. Those virtual banks as well.. They are scammers bank..

BluntTheApostle:


May God never let you be in want.

Some of you lack empathy because God blessed you well enough so that you don't need to borrow.

"May God never let you be in want"
Amen!

Most of you guys think "want" just falls from the sky. I assure you that everyone has their wants. You do and so do I. Difference if that I manage myself. I live within my means. I plan my finances prudently.
What if those loan companies do not exist. Wount you have survived the issue that made you take their money?
What emphaty do you deserve when it comes to taking loans and then finding pity for reasons why you cannot pay. Do you think the money fell from the sky? Don't you know it is an investors money? After all you had the option of borrowing from friends and family. What is the reason you did not take from them but rather went for a high interest short duration loan? Could it be that your relatives and friends wount not advance you the money because they know you will not pay them without a fight?
Anyway, it is good gov has shut them down. Nigerians have to learn how to live with what they have. If you need loans, loan your self.

BluntTheApostle:


Continue from where they stopped?

The day Nigerians will reason their matter, it will be worse than the violence of the EndSARS period.

Why do you think that they don't disclose their locations? Because they know that there are many Nigerians waiting to treat their fuckups.

How then do you explain those who have never defaulted, but defaulted once only to be defamed?

have nigerians stormed all the betting shops?
have wives stormed beer parlours that chop juniors school fees?
let them go legit, or tick any of the boxes, dash fg tax money (all this really cares about) - and they will be even worse

i noted something you missed. android is open. you dont need google play store to install apps
do you think if the apps are removed from the store, but eveyone knows where they can be ed from, nigerians will still not go for them?
sokoloan and co have been around for over a year now. no one can claim not to know their business model

In the interim, the Commission onishes all the businesses that were subject of regulatory intervention on Friday, March 11, 2022, to cease and desist the interest compounding and loan repayment/collection practices that are the objects of this investigation.

“In the event that any of these businesses continue in any of this conduct, or the Commission receives credible evidence of such, violators will be subjected to the full extent of the law including prosecution without option of istrative regulatory resolution.

“The Orders of the Commission are without prejudice to existing borrowers repaying any legitimate loans pursuant to fair and acceptable and conditions; or any modifications to previous and conditions that are considered onerous, inconsistent with prevailing law or general principles of transparency and fairness.

PLEASE HOW DO WE UNDERSTAND THE ABOVE POINTS IN THE PRESS RELEASE?

nedekid:

"May God never let you be in want"
Amen!

After all you had the option of borrowing from friends and family. What is the reason you did not take from them but rather went for a high interest short duration loan? Could it be that your relatives and friends wount not advance you the money because they know you will not pay them without a fight?

or because they are tired. a friend on this platform was actually laughing about this. a serial debtor in her office, after going through everyone in the office, then hopped on sokoloan.

when the texts and messages started, this serial debtor paid up sharp sharp

tunjidare2:



Bros, nor vex o, from my understanding of the matter, it seems these loan apps are the first to commit crime, maybe fraud sef, because this a a consumer protection matter and I heard some of these loan offices claim not to have physical addresses but consumer protection people fished them out and took their systems for investigations.

One other thing is their verification system is very poor and baseless, you can't imagine going about your business and someone you met randomly used your number as a guarantor on a loan app, to my own understanding, these apps should call to first before approving loans not the other way round when the said loanee is defaulting then the apps starts bursting your life with messages and calls that you should find who you no know.

There is more to it, and I am in no of the defaulters, but if whatever they do is against the law, they should close shop and do the needful...

Truth is no body uses anyone has a guarantor,
When installing these app, you grant them permission to your list and that's how they start harassing your s and sometimes you realize you don't even know rh the person but he or she has your .

GloriousGbola:


have nigerians stormed all the betting shops?
have wives stormed beer parlours that chop juniors school fees?
let them go legit, or tick any of the boxes, dash fg tax money (all this really cares about) - and they will be even worse

i noted something you missed. android is open. you dont need google play store to install apps
do you think if the apps are removed from the store, but eveyone knows where they can be ed from, nigerians will still not go for them?
sokoloan and co have been around for over a year now. no one can claim not to know their business model

Your problem is lack of empathy.

What concerns duly ed businesses with illegal ones?

BluntTheApostle:


Your problem is lack of empathy.

What concerns duly ed businesses with illegal ones?

i hope you also have empathy for all the nigerians who have lost money or gone destitute because they lent money to delinquents

stop the pity train. everyone who takes a loan or borrows money is a poor desperate person at the end of their rope.

you are way too old to be this naive.

KingSatan:
Nigeria is a circus.

Her Leaders, Clowns.

Her People, weak spectators.

As long as Nigeria continues to overlook the demands in critical sectors of the nation such as the educational sector. We wont stop producing leaders who issue strange orders.

Strange orders that shamelessly define how undemocratic, uncivilized, underdeveloped, retrogressive and uneducated we are.

The loan sharks dey pay tax??

Is piggyvest and Cowrywise among?. My 401,000 dey inside oo

GloriousGbola:


or because they are tired. a friend on this platform was actually laughing about this. a serial debtor in her office, after going through everyone in the office, then hopped on sokoloan.

when the texts and messages started, this serial debtor paid up sharp sharp

my painter nko, I was about to give him money to paint a car, just before I transfered he said I should avoid his usuall , that he will send me a new number.
Funny thing was that I then got text message of his debt to one of the loan companies.
I called him and expressed my fears sending him money based on the text I got. Do you know that guy within munites, rushed to make the debt payment? He had the money but refused to pay.
Same thing with the young chap that approached me for a soft loan till month end when he gets paid his salary. I told him to take from loan app. He gave some inaudible excuses. 6 weeks later, nigger has not returned the money. Infact when he sees me, he acts as if we never had any transaction.

nedekid:

"May God never let you be in want"
Amen!

Most of you guys think "want" just falls from the sky. I assure you that everyone has their wants. You do and so do I. Difference if that I manage myself. I live within my means. I plan my finances prudently.
What if those loan companies do not exist. Wount you have survived the issue that made you take their money?
What emphaty do you deserve when it comes to taking loans and then finding pity for reasons why you cannot pay. Do you think the money fell from the sky? Don't you know it is an investors money? After all you had the option of borrowing from friends and family. What is the reason you did not take from them but rather went for a high interest short duration loan? Could it be that your relatives and friends wount not advance you the money because they know you will not pay them without a fight?
Anyway, it is good gov has shut them down. Nigerians have to learn how to live with what they have. If you need loans, loan your self.

My brother, you have a lot to learn about life. I pray you don't learn the hard way.

Yes, there are needs that fall from heaven, even if you live within your means.

Think of a man who ran over a boy by accident.

Within 7 hours, he has dipped into his miscellaneous funds, and before you know it, his savings have disappeared. The police are collecting their own shares too.

Man runs to friends and families, but he is not able to get enough funds.

Banks nko?

They are taking too long to bank statements.

What does he do?

Think of another emergency.

A man and his wife are living within their means. No debts.

Suddenly, man slumps.

Before you know it, man is diagnosed with kidney problem.

Wife empties . It is not enough.

Wife runs to family and friends. No one answers or they don't gather enough.

donem:
And kashkash one of the loan sharks affected, are still giving out loans as of today evening, seems they have other plans.

happney65

GloriousGbola:


i hope you also have empathy for all the nigerians who have lost money or gone destitute because they lent money to delinquents

stop the pity train. everyone who takes a loan or borrows money is a poor desperate person at the end of their rope.

you are way too old to be this naive.

See who is talking about naivety.

So everyone who borrows money is poor?

Dangote must be poor, then.

Ademola47:
So if FG 'close' their shops now, what will happen to the money the loan apps have borrowed people? Will FG compensate them? Or they will bear the brunt of the dearth of restitution?

In as much as I don't like the excesses of the loan apps, I also don't like creating unnecessary hardship for people. FG can't just cripple their business like that.

firstly let them legally, with a known address.

Secondly, they should stop sending threat messages to list of defaulters.

Lastly, let them get a sort of collateral that will give them leverage before lending people money.

donem:
And kashkash one of the loan sharks affected, are still giving out loans as of today evening, seems they have other plans.

Abeg .....what is their website o

BluntTheApostle:


See who is talking about naivety.

So everyone who borrows money is poor?

Dangote must be poor, then.

Are we talking about loans from banks or loans from apps?

BluntTheApostle:


My brother, you have a lot to learn about life. I pray you don't learn the hard way.

Yes, there are needs that fall from heaven, even if you live within your means.

Think of a man who ran over a boy by accident.

Within 7 hours, he has dipped into his miscellaneous funds, and before you know it, his savings have disappeared. The police are collecting their own shares too.

Man runs to friends and families, but he is not able to get enough funds.

Banks nko?

They are taking too long to bank statements.

What does he do?

Think of another emergency.

A man and his wife are living within their means. No debts.

Suddenly, man slumps.

Before you know it, man is diagnosed with kidney problem.

Wife empties . It is not enough.

Wife runs to family and friends. No one answers or they don't gather enough.

Yes, unfortunate, unexpected incidents will always happen in life. But must you use it to affect another man's business? I assume all you wrote was to justify why in emergency you may take a loan. But does that justify not fulfilling your part of the bargain?
If all the misfortunes of this world are after you, I guess the best bet is to get an insurance plan, rather than a loan.
You hit persin, insurance go pay, your roof collapses, insurance oya. Lightning strikes, insurance to the rescue.

NwaNimo1:
Google deactivates CBN!

[img]https://i./mz.gif[/img]

.

WowSweetGuy:
those people that create s daily?! Wema bank is their partner
I have over 50 wema they usually create for me to repay when I was in their web repaying every 7days...I mean everyday sef because i take from one to repay another thats how you get threats and call all through the day.It was like hell

I don't even advise my enemy to near them.

Let them take their chinese ill gotten wealth from Africa back to zhongguo

Which of them? Gokash or LCredit?

LZAA:

Oga dem dey share data with north korea sef
We know u be one of dem agents in sifia pains
Eeyah no more derogatory calls or blasting on social media
Oga better complete your education and get a REAL job
Not one where one "QA OFFICER " Will be telling you to be rude to customers
QED

I abuse Keyamo himself daily on Twitter daily no Lele since January. I bombard Buhari Twitter everyday no qualms. All Na scam

Be ready to provide collateral before accessing the loans.

What is the predicament of loan apps who not yet to heal their loan

BluntTheApostle:


My brother, you have a lot to learn about life. I pray you don't learn the hard way.

Yes, there are needs that fall from heaven, even if you live within your means.

Think of a man who ran over a boy by accident.

Within 7 hours, he has dipped into his miscellaneous funds, and before you know it, his savings have disappeared. The police are collecting their own shares too.

Man runs to friends and families, but he is not able to get enough funds.

Banks nko?

They are taking too long to bank statements.

What does he do?

Think of another emergency.

A man and his wife are living within their means. No debts.

Suddenly, man slumps.

Before you know it, man is diagnosed with kidney problem.

Wife empties . It is not enough.

Wife runs to family and friends. No one answers or they don't gather enough.

I am. An engineer. Years ago on a project we were running, this contractors worker died in an accident. He was immediately in trouble and all of us had to chip in to lend him money to get out of the issue. We never heard from him and never got our money back. Three years later we met him on a different project. The man was clearly back on his feet and doing well , but he had never called any of us to pay us back. I made sure I got my money from him. And believe it or not, the guy started running around telling everyone i was wicked for taking my money back from him.

We all have these stories. We all know what's up. We all see it every day.

Topshow2010:


Abeg .....what is their o

Just to the app on Google play store

ademidedavid:


Be sensible bro, I have never worked nor patronised them but did they force people to patronise them?

Use your head man, na trouble dey always go find wahala.

you need to borrow sense cos you have non, people stay on their own, these loan people keep disturbing them on all social media, tempting them just to gain access to their financial status and rub them.

Walkee:
I like the way our federal government is ordering these big techs. They used to form James bond in USA during Trump era

Don't cum on empty orders that your Zoo of a country makes.
Nigeria no get respect sef. I think its more of ignorance. A miserable third-world country is
ordering a first-world country