Peter Okafor
The National Secretary of the 372 Youth Empowerment Network, Hon Dayo Okewole and the group’s publicity secretary,Comrade Chidi Nwogwugwu have called on the Federal consumer protection council to urgently declare a state of emergency inthe digital money lending system by critically examining the activities of some charlatans and criminally minded individuals who have completely hijacked the digital money lending platform through their nefarious activities.
Hon Dayo made this known during a world press conference in Abuja attended by all the 372 ethnic nationalities in Nigeria.
He emphasised that the prevalent economic circumstances have resulted in higher risk of default by many borrowers who are compelled to borrowing from these “loan sharks” at cut throat rates and balance manipulations which ranges from 7-14 days loan duration at 50-60percent criminal interest rates.
“Rather than have their problems solved they run into more problems as this criminal loan sharks destroys everything in them “,Dayo emphasised.
In his own words,Comrade Chidi emphasised that the loan lenders in their desperacy go to the extent of blackmailing borrowers,casting aspersions on their character and integrity,while also reaching out to their contacts on phone inorder to spread deliberate falsehoods about them.
“Very typical of such messages are ..That the borrower is a fraudster,rapist,serial child molester and the borrower is a wanted person.”
Hon Dayo Okewole implored the inspector general of police,DG DSS,DG consumer protection council as well as the governor of CBN to outlaw such evil digital lending platforms because from look of all things,they operate illegally as affirmed by the consumer protection council in the past who once carried out survey and realised they operate without licences and offices locations which is against financial laws of the country.
Our associations therefore makes recommendations that henceforth,this illegal lending platforms should be gazetted in the journal of the Police and declared persona non Granta.
If you are a victim of these scammers kindly send a mail to us at info@372yen.com.ng.
