Lawmaker moves motion to halt threats, harassment to Nigerians by loan apps, platforms

Lawmaker moves motion to halt threats, harassment to Nigerians by loan apps, platforms

QUICK LOAN ARENA reports that the Federal Lawmaker, representing Egbeda/Ona Ara Federal constituency, Hon. Akin Alabi has moved a motion in the House of Representatives to halt the malicious and brutal blackmails, threats and excesses of quick loan apps and lending companies and platforms across the nation.

Loan apps and lending platforms had lately been involved in gruesome blackmails and threats unsing underhanded tactics like harassing and sending threat messages to customers and their entire families and contact list once there is an alleged 24 hour loan default. QUICK LOAN ARENA understands this is against the data provacy policy which the loan apps subscribes to, on behalf of their customers and is in breach of their privacy in the process.

Hon Akin Alabi, in his motion stated that these companies have been operating outside the principles of fair and lawful processing of personal data as required under the Nigeria Data Protection Regulation and other relevant provisions on data protection in Nigeria.

Hon Alabi called on the CBN to provide better regulation for these financial service providers, and for the the National Information Technology Development Agency (NITDA) to ensure strict adherence to the Nigerian Data Protection Regulation by all online loan providers.

QUICK LOAN ARENA has been championing campaign to halt the harassment and threat by this loan apps and platforms and we have published several stories of how Nigerians have been subjected to lamentable conditions in the process.

Familes and contact list of alleged loan defaulters who are not parties to the loan contract are always labelled as criminals and robbers all in a bid to harass and shame the customer to pay up. This is unethical.

See the motion by Hon Akin Alabi to the house of representatives

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About the Author: Femi Adeoya

Mr Femi Adeoya is a Chartered Forensic Accountant and a Certified Fraud Examiner. He has over 20 years professional work experience in accounting, finance and business management processes. As an Accounting Software Expert, he has implemented and supervised accounting solution set up of over 50 small and medium businesses in Nigeria. As a passionate blogger, Mr Adeoya is an ardent writer and communicationist. He is the CEO of QUICK LOAN ARENA (quickloanarena.com), the number 1 loan apps review website in Nigeria. He is very passionate about the quick and instant loan industry in Nigeria and has written over 200 reviews on different loan apps and digital banks in Nigeria, USA, Canada and UK.

14,863 Comments

  1. Orumin Diuke Abalieke
    Good move. This Yahoo, Yahoo boys corner money and to get same in the system, they do Yahoo, Yahoo loan to people and after a month they start harasing people even those that knows nothing about the loan. The authorities should go after these people who are not even licenced as lenders. So many illegal transactions going on every where in this country. My grouse is the harasments from the outfits, that I don’t even know or dealt any business with. Good move, just check theses outfits out.

  2. They need to understand that Nigerians are in their difficult time this time around. Though, it will not last forever. So understanding is required

  3. NCash is the worst of them all.
    Sending embarrassing messages to individuals who knew nothing about their nonsense deals with their customers.

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