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Malpractice gets lenders shut down

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Some companies are taking advantage of individuals amongst a pandemic.

TVC News Nigeria gives us an exclusive interview with Babatunde Irukera.

Nigeria has been tracking the activity of online money lending organizations in order to better understand any possible illegal and unethical practices that may be occurring. The country is particularly interested in the rates of interest that are being charged by these organizations, as well as the way in which they are collecting payments from borrowers. So far, there have been some concerns raised about the way in which some of these organizations are using aggressive collection tactics, which may be putting borrowers at risk. The pandemic is specifically one of the causes for the increase of credit applications around the Country.


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