Kaduna, 24 March, 2022 / 4:20 pm (ACI Africa).
Representatives of Christian leaders in Nigeria are calling on the governor of the Central Bank of Nigeria (CBN) to look into loan sharks who are taking advantage of the economic challenges in the West African nation to extort money from innocent Nigerians.
In a Thursday, March 24 statement, officials of the Christian Association of Nigeria (CAN) who include representatives of the Catholic Bishops’ Conference of Nigeria (CBCN) say some “faceless people” are giving out loans to vulnerable Nigerians.
“Some unscrupulous people developed their apps to extort money from innocent people on the pretext of giving them short loan facilities,” they say in a statement signed by CAN Secretary General, Joseph Daramola.
CAN officials say the interest rates offered by the loan sharks “are not only higher than the banks but they use blackmail and other antics to get their money back in case of default.”
The representatives of Christian leaders in Nigeria further say that borrowers not only over pay the loan, but also “run into trouble as a result of the ungodly interests.”