At least seven digital loan companies operating in Ikeja, Lagos, were raided in a joint operation with the Federal Competition and Consumer Protection Commission (FCCPC) on Friday for a “possible violation” of consumer rights.
The operation led by the commission’s boss, Babatunde Irukera, was in response to several complaints of malpractices on the part of the lenders.

The companies – GoCash, Okash, EasyCredit, Kashkash, Speedy Choice, Easy Moni – owned by Blue Ridge operate on the third floor of a four-storey building in the area.

During the operation, Mr Irukera told the over 800 employees of the purpose of the raid and their rights. Soko Loan, another lending company, operates in another location in the area with over 150 employees and some of its employees protested the seizure of their equipment.

The operations were carried out by the FCCPC, Independent Corrupt Practices and Other Related Offences Commission (ICPC), National Information Technology Development Agency (NITDA), and the Nigeria Police Force (NPF). Addressing the press, Mr Irukere said the loan companies rose to prominence due to the economic impact of the COVID-19 lockdown. “Because people were on lockdown due to the pandemic, people started needing small easy loans which is understandable.

“But over a period of time, people started complaining about the malpractices of the lenders so we started tracking it.

https://www.legit.ng/politics/1459814-online-loan-sharks-trouble-fg-begins-massive-crackdown-raids-gocash-okash-easycredit-others/[img][/img]

Those people cause more damages than good, how can you borrow 27k and you are expected to 35k withing 7 days and they kept adding 1600# daily for default

Dear FG, next time don't just raid them, Invade them.
This people keeps calling me everytime with different lines & foreign lines self asking me to talk to One unknown person like that to pay
them... Person wey I no even know oo

The customers are the real problem here, u read the terms and conditions of loan...yet u still apply for it

Well its obviously you have no idea of their criminal conduct and how they blackmail citizens to extort high interest through threat of defamation.

Hector09:
The customers are the real problem here, u read the terms and conditions of loan...yet u still apply for it

Good, Nigeria citizens must be protected.

Hector09:
The customers are the real problem here, u read the terms and conditions of loan...yet u still apply for it

Shut up loan agent, when these agent call and start threatening before the due day embarrassing customers, messaging their contacts even before 7 days. Who violated terms and conditions first?

Hector09 Please Answer

DonBenny77:

Shut up loan agent, when these agent call and start threatening before the due day embarrassing customers, messaging their contacts even before 7 days. Who violated terms and conditions first?

I nearly one collect loan that year from these people ohhhh, but thank God I no try am, very wicked set of people

It's not that this raid would make them better, these EFCC just wants to collect their share of the bribe. It's not that they're going to stop them from sending death threats and obituary threats to customers.

Or didn't CBN sanction okash 10million sometime last year?

Good, finally. People lost their lives and jobs due to their inhuman mode of loan recovery .

Obagofixxy:
I nearly one collect loan that year from these people ohhhh, but thank God I no try am, very wicked set of people

You made the right choice bro.Those people are heartless!

Plus10:

You made the right choice bro.Those people are heartless!

I was in need of money then, I was trying it and the server was giving me issues, I stopped trying it, until I started reading the evil there were doing to people, I said thank God ohhhh

They Are Evil Loan Houses

Obagofixxy:



I was in need of money then, I was trying it and the server was giving me issues, I stopped trying it, until I started reading the evil there were doing to people, I said thank God ohhhh

Unreasonable set of people, collect some money from them with high interest,am not even bothered about the interest by the time I delayed 2days ,they started calling everyone on my contact, my family, church members, boss even my Ex...no wonder some commit suicide for this reason..but as a naija born I told them to go and collect the money from all the people they send my picture too...

No be still the same Nigeria we dey??
Small money wey Dem go pay them now dey don leave them dey operate again

It's because they know Nigeria is lawless that's why they kept on operating.....LMAO

Antoeni:
At least seven digital loan companies operating in Ikeja, Lagos, were raided in a joint operation with the Federal Competition and Consumer Protection Commission (FCCPC) on Friday for a “possible violation” of consumer rights.
The operation led by the commission’s boss, Babatunde Irukera, was in response to several complaints of malpractices on the part of the lenders.

The companies – GoCash, Okash, EasyCredit, Kashkash, Speedy Choice, Easy Moni – owned by Blue Ridge operate on the third floor of a four-storey building in the area.

During the operation, Mr Irukera told the over 800 employees of the purpose of the raid and their rights. Soko Loan, another lending company, operates in another location in the area with over 150 employees and some of its employees protested the seizure of their equipment.

The operations were carried out by the FCCPC, Independent Corrupt Practices and Other Related Offences Commission (ICPC), National Information Technology Development Agency (NITDA), and the Nigeria Police Force (NPF). Addressing the press, Mr Irukere said the loan companies rose to prominence due to the economic impact of the COVID-19 lockdown. “Because people were on lockdown due to the pandemic, people started needing small easy loans which is understandable.

“But over a period of time, people started complaining about the malpractices of the lenders so we started tracking it.

https://www.legit.ng/politics/1459814-online-loan-sharks-trouble-fg-begins-massive-crackdown-raids-gocash-okash-easycredit-others/[img][/img]

This is the best news so far in this 2022.

Hector09:
The customers are the real problem here, u read the terms and conditions of loan...yet u still apply for it

So if the terms state that if you can't pay they should come to your house and murder you, thats fine by you. Thats why there are consumer protection laws d$mb a$$