Hardship: Christian Association Tells Buhari Government, Central Bank To Save Nigerians From Harassment, Intimidation By ‘Ungodly’ Loan Sharks
The Christian Association of Nigeria (CAN) has called on the Central Bank of Nigeria (CBN) and other financial regulators to tackle the activities of loan sharks and their unfair policies on unsuspecting Nigerians who patronise them.
The body, in a statement issued by Joseph Daramola, its General Secretary, further urged the Nigerian government led by President Muhammadu Buhari to immediately restore the economy of the country to reduce the hardship on citizens who resort to borrowing money from loan sharks despite their ungodly policies.
According to the statement, the loan sharks developed apps on the pretext of giving short-term loans to people but harass and intimidate them when it's time for repayment of the loan.
CAN appealed to the CBN governor, Godwin Emefiele to immediately look into the activities of loan sharks before Nigerians start resorting to self-help which can be disastrous.
The statement from CAN reads, “Our attention has just been drawn to the antics of some faceless people who are unknown in the financial sector for giving out loan facilities to vulnerable people as a result of economic predicaments in the country.
“According to our findings, some unscrupulous people developed their apps to extort money from the innocent people on the pretext of giving them short loan facilities.
“Their interests are not only higher than the banks’ but they use blackmail and other antics to get their money back in case of default whereas their victims must have overpaid the loan secured but run into trouble as a result of the ungodly interests.
“They will be harassing and embarrassing the contacts of their victims asking them for their intervention to recover their money.
“These are not only against the financial regulation but totally unacceptable, irresponsible, suicidal and unfair.
“We are calling on the Governor of the Apex Bank, Godwin Emefiele, the Ministry of Finance and other related agencies to, as a matter of urgency, intervene before their victims begin to use self-help to free themselves from the public ridicule and embarrassment.
“It easier to condemn those who take such loans because they were not forced to do so but when we critically examined the economic conditions of the country and the attendant consequences, we have realised that it would take only the disciplined and the godly people to say no to the trap.
“CAN is also calling on the Federal government to bring the economy out of the woods as a way of restoring sanity to the polity. We don't need the quarterly report of the National Bureau of Statistics to know that life is becoming unbearable and tough for the citizens, irrespective of their economic status.”
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The Christian Association of Nigeria (CAN) has called on the Central Bank of Nigeria (CBN) and other financial regulators to tackle the activities of loan sharks and their unfair policies on unsuspecting Nigerians who patronise them.
The body, in a statement issued by Joseph Daramola, its General Secretary, further urged the Nigerian government led by President Muhammadu Buhari to immediately restore the economy of the country to reduce the hardship on citizens who resort to borrowing money from loan sharks despite their ungodly policies.
According to the statement, the loan sharks developed apps on the pretext of giving short-term loans to people but harass and intimidate them when it’s time for repayment of the loan.
CAN appealed to the CBN governor, Godwin Emefiele to immediately look into the activities of loan sharks before Nigerians start resorting to self-help which can be disastrous.
The statement from CAN reads, “Our attention has just been drawn to the antics of some faceless people who are unknown in the financial sector for giving out loan facilities to vulnerable people as a result of economic predicaments in the country.
“According to our findings, some unscrupulous people developed their apps to extort money from the innocent people on the pretext of giving them short loan facilities.
“Their interests are not only higher than the banks’ but they use blackmail and other antics to get their money back in case of default whereas their victims must have overpaid the loan secured but run into trouble as a result of the ungodly interests.
“They will be harassing and embarrassing the contacts of their victims asking them for their intervention to recover their money.
“These are not only against the financial regulation but totally unacceptable, irresponsible, suicidal and unfair.
“We are calling on the Governor of the Apex Bank, Godwin Emefiele, the Ministry of Finance and other related agencies to, as a matter of urgency, intervene before their victims begin to use self-help to free themselves from the public ridicule and embarrassment.
“It easier to condemn those who take such loans because they were not forced to do so but when we critically examined the economic conditions of the country and the attendant consequences, we have realised that it would take only the disciplined and the godly people to say no to the trap.
“CAN is also calling on the Federal government to bring the economy out of the woods as a way of restoring sanity to the polity. We don’t need the quarterly report of the National Bureau of Statistics to know that life is becoming unbearable and tough for the citizens, irrespective of their economic status.”
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The Christian Association of Nigeria (CAN) has called on the Central Bank of Nigeria (CBN) and other financial regulators to tackle the activities of loan sharks and their unfair policies on unsuspecting Nigerians who patronise them.
The body, in a statement issued by Joseph Daramola, its General Secretary, further urged the Nigerian government led by President Muhammadu Buhari to immediately restore the economy of the country to reduce the hardship on citizens who resort to borrowing money from loan sharks despite their ungodly policies.
According to the statement, the loan sharks developed apps on the pretext of giving short-term loans to people but harass and intimidate them when it’s time for repayment of the loan.
CAN appealed to the CBN governor, Godwin Emefiele to immediately look into the activities of loan sharks before Nigerians start resorting to self-help which can be disastrous.
The statement from CAN reads, “Our attention has just been drawn to the antics of some faceless people who are unknown in the financial sector for giving out loan facilities to vulnerable people as a result of economic predicaments in the country.
“According to our findings, some unscrupulous people developed their apps to extort money from the innocent people on the pretext of giving them short loan facilities.
“Their interests are not only higher than the banks’ but they use blackmail and other antics to get their money back in case of default whereas their victims must have overpaid the loan secured but run into trouble as a result of the ungodly interests.
“They will be harassing and embarrassing the contacts of their victims asking them for their intervention to recover their money.
“These are not only against the financial regulation but totally unacceptable, irresponsible, suicidal and unfair.
“We are calling on the Governor of the Apex Bank, Godwin Emefiele, the Ministry of Finance and other related agencies to, as a matter of urgency, intervene before their victims begin to use self-help to free themselves from the public ridicule and embarrassment.
“It easier to condemn those who take such loans because they were not forced to do so but when we critically examined the economic conditions of the country and the attendant consequences, we have realised that it would take only the disciplined and the godly people to say no to the trap.
“CAN is also calling on the Federal government to bring the economy out of the woods as a way of restoring sanity to the polity. We don’t need the quarterly report of the National Bureau of Statistics to know that life is becoming unbearable and tough for the citizens, irrespective of their economic status.”
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