Elsueno:
Well-done trove I see weave & LGVCU...keep it up

JaskanFactor:
did anybody notice that the building collapsed straight down onto its foundation.

and the building had been standing for almost a year or more before the collapse.

Basically if the building was controlled demolition, it wold look exactly like this one did.
A straight down collapse unto its footprint affecting no nearby structures .

And then to top it up, its just by chance that this happened when the owner was inside .
Am just saying too many coincidences in this one to rule out foul play.

GboyegaD:
The greed of the owner is alarming. I don't know why we are so wicked and think about money above human lives. The owner should be tried for man slaughter in the least.

adonainana:


There is no difference between walking into your bank and getting a loan on the spot and downloading an app and getting a loan instantly.

There is a reason its stressful getting a loan from a Nigerian bank, it wasnt stressful some decades ago, Nigerian banks learnt from thier mistakes, the major difference from then and now.

A poor man has no credit rating, before you can lend anyone money, you must score them on thier ability to repay, a poor man has none.

There are many poor people living in Nigeria than in anywhere else on planet earth, just look around you and you will find why

Even the so called middle class in Nigeria is almost no more and now poor.

The loan apps are only feeding on the demand that people need money, this is different from people ability to pay back the money you lent them

Ask ren money, lapo, dont even bother asking all the Nigerian banks about thier bad debts all these years, the debts they lent Nigerians became bad for a reason.

No point now developing an app to serve a group of people, thier own bank would never lend to in a million years

Due diligennce is key and street smartness, you must not only know how to do business, you must also know who you are doing business with ( Nigerians ) and where you are doing business ( Nigeria)

see blood brothers kill themselves over land and money thier father left to them and the money no reach 5 million naira oooo, yet a company comes to a country as such and starts offering unsecured loans, once your bvn is verfied you will get it, and you want people to pay back

Omo its dead on arrival, trust me there is a reason why loans from Nigerian banks are stressful, it wasnst stressful until they learnt thier lessons

richmondefosa:


That’s why I said they have a flawed business model. I’m not in support of any of the blackmail tactics utilized by the company.

I see many people quoting me saying that I’m talking from a privileged position and I just shake my head.

We fail to realize that this is strictly business. You signed an agreement to obtain loan. You defaulted and the company needs their money. They way they go about the debt recovery is flawed but you’ll also agree with me that many people do not want to pay back.

they are now saying sokoloan is a loan shark. We’re tgey not aware from the onset?

I still insist many people don’t want to pay back their loans.

adonainana:


You can’t offer a loan to a hungry broke man in thier multitudes and expect to make money

Even your capital you won’t see back more less the interest

Most Nigerians are hungry and are barely just surviving
Do you know how many youths in Nigeria are yahoo boys in Nigeria right now just to survive

ANDREW91:

Lcredit na werey...
Their own go worst along with Gotocash.
Gotocash will not show u how much dey will disburse into ur account. The next thing u will see as the credit asking u to pay almost 100% of the mornin u borrow under 7days.
God go punish them

adonainana:


Tbh everyone knows why they wouldnt 100 percent want to operate under the framework of the law, and it will be hard for any company to make money off offering personal loans in this present Nigeria.

Even Nigeria 50 years ago, i doubt there is any private equity company that has made a fortune from lending or equity funds.

Me i dont know why they didnt just lend thier money to Banks, or Nigerian companies on the NSE, or simply just go and buy all the houses in Lekki and be reselling

Like due diligence book side dey, due diligence street dey.

How can you bring 1 million dollars into Nigeria and you start giving it out as unsecured loans, so many many businessses you can do that you will make double in no time.

Why waste your time lending to people and start harrassing them to collect it back

vikyno:


The same thing I did to them. How on earth would you expect a sane person to pay you what he owes after such blackmail. Those people are mad.

Ikea81:


Lol,. Money dey the account naim them go borrow......there are better ways to get their money. It first starts from doing proper borrowing when you access a debtors risk like other banks are doing..not given people money with the intent of blackmailing them to pay unimaginable interest in one week.

PoTTV:
Them borrow means say them pay��‍♂️

Ikea81:


Lol,. Money dey the account naim them go borrow......there are better ways to get their money. It first starts from doing proper borrowing when you access a debtors risk like other banks are doing..not given people money with the intent of blackmailing them to pay unimaginable interest in one week.

Kingju:


That is what they did to me. They stole 13k from my account just like that. I don't owe them. I only saw alert, after contacting Paystack, they told me it's Sokolending. I've contacted Credit Bureau, the case is with them

EMIOMOADEOYE:


How were the actions authorized?

Is there a signed document that specifically authorize sending messages to contacts?

Did they obtain permission from the recipients of those messages before harassing them with it?

This is one of the reason why people think they can just do anything and get away with it. An in app acceptance doe not hold up in court.

I'm not sure you have obtained a loan from these bastards before.

If you have then you will understand.

How do you explain paying back a loan in full before the deadline only to receive a series of calls and text messages from your close associates asking questions about you refusing to pay a loan back. I mean its so serious people don't believe its a mix up until you actually show proof.

Or how do you explain after discussing with an agent about the possibility of you missing a deadline and asking for extension, they still go right ahead to blast those stupid messages.

You need to read the text messages they send. It is a blatant accusation of fraud. They say it like it has been investigated and established.

It doesn't even matter that you have paid up your loans.

Ofcourse, one can understand the peculiarities of doing business in Nigeria. But when EVERYBODY has the same complaint, then it definitely cannot be because of the peculiarities. Something is off with them

Do microfinance banks not give loans? Do banks not give loans? How many of them have you heard that went out of business because of loan defaulters.

Isobug:
They should leave Palmcredit alone

femiasaolu2014:
Instead of sending invasive messages to the contact list of loan defaulters, they should have adopted the offline loan recovery method of LAPO Microfinance Bank.

Those guys will publicly shame you, they can go as far as bringing a local band and start playing and singing songs of your refusal to repay them outside of your house or office, etc
They are so aggressive in their methods that they have a very low NPL portfolio, it works for them and they haven't yet drawn the ire of regulators.

Not every time app, app, technology. Sometimes go hardcore, as some Nigerians are stubborn goats.

femiasaolu2014:
Instead of sending invasive messages to the contact list of loan defaulters, they should have adopted the offline loan recovery method of LAPO Microfinance Bank.

Those guys will publicly shame you, they can go as far as bringing a local band and start playing and singing songs of your refusal to repay them outside of your house or office, etc.
And I believe lapo don't do that just 48 hours after loan expiration cos that will be stupid
They are so aggressive in their methods that they have a very low NPL portfolio, it works for them and they haven't yet drawn the ire of regulators.

Not every time app, app, technology. Sometimes go hardcore, as some Nigerians are stubborn goats.

einsteine:



Let them get license from the CBN and they will be able to do this. These Chinese run loan apps are mostly unlicensed. The few licensed ones get a state money lender's license. They won't want to get licensed because they break usury laws. How do you charge 50% interest per week and then 75% interest per week for defaults? It is a business model that can only be sustained with illegal ways of recovery like physical and social intimidation etc

Cyoung4real:



Steal and tarnish people's image Alaye why person go borrow money and refuse to pay it back? Nawa for us in Naija,ooo. Them no force you to come borrow money but after borrowing, una go come hear they open mumu thread because they are finding a way to get their money back.

toujurs:
Walaihi, you just said my mind, most Nigerians are criminals, how can a right thinking individual take a loan without thinking of how to pay. That's wickedness. Am very sure they must have borrowed from their family members without paying back, that's why they resulted to borrowing from the app because non of their family members were willing to render help to a bad debtor

danniyal:

Is it by force to give out loans? Is lending the only business in Nigeria?. How can you give out loans to people you don't know and without collateral then you begin to disturb people who don't know anything about the transaction in the first place. Is that not madness? Can a Nigerian try this nonsense in China?

richmondefosa:


They have a flawed business model.
Most Nigerians on their part do not like repaying debt. Selfish and wicked lots.

See many of them on this thread jubilating sokoloan is shutting down but they fail to realize that business closure such as this will result to loss of jobs and ultimately, loss of revenue for the government because a closed business will not pay tax. At the end, we need to ask ourselves salient questions.

Who is on the losing side?

We need to do better as a people.

thesicilian:

But how then does the government expect the loan apps to get their money back? Will NITDA collaborate with the commercial banks to allow automatic withdrawals from all BVN linked accounts of defaulters in the event that a customer clearly doesn't want to pay?

murphyibiam15:
That's the only way they could recover their money from 95% criminally minded Nigerians who take loans with initial intent not to pay or default.

Criminal Nigerians

DAVIDMOE:
it may not be because of the fine, but they know there won't be any opportunity for them to steal and tarnish people's image again.

DoggoneDogg:
By Olalekan Fakoyejo


Source: Ripples Nigeria

doggedfighter:
He should come back let another person go.






Welcome to back to Buhari's Nigeria.

AllahIsShit:

Canada, or indeed any other advanced nation, is not the kind of place you go to do aproko hustling.

This low grade version of Broda Shaggy thought that his dry, unfunny Instagram skits will be enough to support him in Canada of all places.

I hope his fellow jokers get the message that relocating to the developed world is not for every Tom, Dick and Harry.

Anytime you go to either the Canadian High Commission or the American Embassy, at least 90% of the people you meet there are these unserious types who think that the streets abroad are paved with gold.

These clowns should be made to get out of the way of serious visa applicants with sound academic qualifications who just want to process their travel documents peacefully so they can leave this hopeless country behind.

Hezzyluv:
If you are a Nigerian trying to live a flamboyant life in Canada and you don't have too much money, be ready to become bankrupt.

2,300$ for rent, na your choice.
100$ for car park, na your choice.
80$ for wifi, na your choice.
75$ for call na still your choice.

U can leave in Canada, then cut your gown according to your size.

Lexusgs430:
Today Today, I am plucking my $LCID......... With this kind profit..... Loni ni, kọ́ni dola..........