A loan company has been accused of declaring defaulters dead, designing and circulating the obituaries of such persons to family and friends.
A customer, Azuwuike Chinedu Achiever recently shared his experience with the loan company on social media.
He said he had defaulted in his repayment plan for five days and the next thing he saw was his obituary.
On a public group on Facebook, another customer of a loan app, Victoria Eyo Ekpo revealed she was also a victim and vowed not to repay the loan.
She said, “This is what Deloan (app) sent to me oooo. I will never pay. They called my mum and insulted her. May God help us.” (sic).
Ekpo added that she borrowed the sum of N15,000.
There have been concerns in the past about the activities of these loan sharks and the lack of regulation of their activities.
Meanwhile, the Executive Vice Chairman/Chief Executive Officer, Federal Competition and Consumer Protection Commission, Babatunde Irukera, has said that the regulators in the financial system are collaborating to address what is fast becoming a dominant and abusive practice targeting some of the most vulnerable in the society.
Irukera said, “In November (2021), the Federal Competition and Consumer Protection Commission hosted a meeting attended by the chief executive officer of the Independent Corrupt Practices Commission, and representatives of the National Information Technology Development Agency and the Central Bank of Nigeria; in leading an effort to address multiple potentially dubious conduct of certain money lenders, otherwise known as loan sharks.
