Loan apps go gangster, send ‘shame’ messages to close contacts of loan defaulters

The Nigerian fintech space is growing exponentially, attracting the attention of both foreign and local investors and drawing new entrants into the diverse sub-sectors within the ecosystem. A good number of them have struck gold offering uncollateralized loan facilities to Nigerians albeit at eye-popping interest rates. Of this cohort, it would appear as if some have met and agreed to come down hard on defaulters, resorting to unbelievably desperate measures to recover loan facilities obtained from their apps.

Findings made by Nairametrics show that a number of these loan app operators now send embarrassing short messages service (SMS) and WhatsApp

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Nigerian bank says non-performing loans to entrepreneurs almost 100%

The Bank of Industry has said the country’s entrepreneurs don’t have the habit of repaying loans, saying its non-performing loan portfolio awarded to entrepreneurs ranges between 80 and 100 per cent.

The bank’s managing director, Olukayode Pitan, disclosed this recently at the first edition of the community engagement development workshop organised by the Arthur Mbanefo Digital Research Centre (AMDRC) of the University of Lagos (UNILAG), Akoka.

The workshop, with the theme; “Building the Nigeria’s Economy for the Immediate Future: The Role of Innovation and Entrepreneurship and Startups Creation,” featured scholars and industry leaders including the director of the

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AUD/USD Eyes Upside on Potential Loan Prime Rate Cut in China

Australian Dollar, AUD/USD, China, Long Prime Rates, RBNZ – Talking Points

  • Australian Dollar eyes China’s monthly 1- and 5-year Loan Prime Rate fixing
  • Traders await news over US/China oil inventory releases and Biden’s Fed pick
  • AUD/USD downside may continue as bearish SMA crossover nears

Monday’s Asia-Pacific Forecast

Asia-Pacific markets are set to open the trading week on a quiet note after a mostly mixed week. The Thanksgiving holiday will see markets in the United States trade on a shortened week, which could spur some potential for increased volatility. The US Dollar remains on the radar after breaking into fresh yearly

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‘Each gets N18.2bn, two-year moratorium’ — FG explains N656bn fresh loan for states

The federal government has approved N656 billion as fresh loan for the 36 states of the country.

According to details of the loan as announced during the National Executive Council (NEC) meeting on Thursday, each state is expected to receive N18.2 billion.

In a statement issued by Laolu Akande, spokesperson to the vice-president, the loan is to support states and will be released in six tranches over a six-month period.

“In a bid to help state governments meet financial obligations, especially the previous budget support facility due for repayment, President Muhammadu Buhari has approved a fresh N656billion Bridge Financing Facility

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N20bn bailout loan: Politicians with interest in 2023 presidency ‘hired EFCC to discredit Yahaya Bello’

Kingsley Fanwo, Kogi commissioner for information, has alleged that some politicians with interest in the 2023 presidency hired the Economic and Financial Crimes Commission (EFCC) to discredit Yahaya Bello, the state governor.

Over the past months, the anti-graft agency and the Kogi government have been at loggerheads over allegations that the state runs an account in Sterling Bank containing N20 billion bailout loan.

The EFCC had alleged that there were suspicious fraudulent activities related to the account.

In August, a federal high court sitting in Lagos froze a Kogi state salary bailout account domiciled in Sterling Bank Plc following an

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Arsenal subject of shock Nicolas Pepe loan interest from AC Milan

Arsenal went to Anfield and got brushed aside. The gulf in quality was known prior to the match, and hammered home at full-time. There wasn’t even much going for Mikel Arteta off the bench.

There were options in reserve to come on for the visitors, but nothing that would have turned the tide of the match. Liverpool were a cut above and whoever was brought on would have done little to alter that.

Among them was Nicolas Pepe, who has amassed just 482 minutes of football this season, five of which have come in the past four games. Anybody fighting

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Buhari Approaches World Bank, Others For $30million Loan To Build Vaccine Plant In Nigeria

President Muhammadu Buhari says his government is in talks with the World Bank to obtain $30 million to build a vaccine plant in Nigeria.
Buhari, represented by Vice-President Yemi Osinbajo, made this known in Jos on Saturday during the graduation of Senior Executive Course 43 participants of the National Institute for Policy and Strategic Studies.

The President said he hoped that the vaccine plant to be built in collaboration with May & Baker Nigeria Plc would commence next year.
He said, “Nigeria is in talks with the World Bank’s private lending arm and other lenders to raise about $30 million

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Man United’s Ethan Laird claims he has taken a ‘step up’ with Swansea loan spell

Ethan Laird is a talented product of the Manchester United youth academy.

Manchester United loanee Ethan Laird weighs in on his new life at Swansea City

According to Swansea City official, Manchester United loanee Ethan Laird has talked about his feelings surrounding the move to Swansea and the jump up to the Championship. He had moved this summer and joined Russell Martin, his previous manager at MK Dons.

Having spent his previous season on loan with the Dons, the youngster had got used to his new manager. He has taken advantage of that situation and has been great for

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Barcelona eye January loan for Chelsea ace Timo Werner

Transfer News: Chelsea striker Timo Werner on the radar of Xavi at Barcelona

According to ESPN, Spanish giants Barcelona are looking to raid English Premier League table-toppers Chelsea for German striker Timo Werner.

Since his €50m move to Chelsea from RB Leipzig last summer, the 25-year-old striker has struggled to adapt to the Premier League and Barca showed interest in the No.9 even before his move to London.

Werner, who is currently out with injury, has struggled with game time under coach Thomas Tuchel and this has given Barcelona hope that they get the 25-year-old striker on loan.

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