What Happens When a Nigerian Loan App Reports You to a Credit Bureau?

Introduction With the advent of loan apps in Nigeria, loan borrowing has become far easier than ever before. No collateral, no extensive paperwork and no guarantor needed. It is funnily much easier to default on loan repayment as you ignore phone calls and messages, spamming their phone numbers on truecaller, not being intimidated by their […]

How to Recover Financially After Defaulting on a Loan

Introduction While some, if not many, take loan with the intention of defaulting, tagging phone numbers of loan companies as “scammers” on truecaller, there are a few responsible borrowers whose intention is not to default ab initio. To these, defaulting on a loan can be stressful and emotionally draining. They often experience fear, shame, anxiety […]

Why Many Nigerians Fall Into Multiple Loan Debts

Introduction With a sharp increase in inflation rate in Nigeria, prices of goods and services have increased astronomically. This has turned many Nigerians to a “survival” mode, making it almost impossible for an average Nigerian not to resort to loan to meet daily needs. It seems to have become easier to borrow money in recent […]

How Loan Apps in Nigeria Calculate Interest Rates

Introduction While under the pressure to offset bills, buy food, pay rent, pay for medical bills or mitigate the effect of an emergency, borrowing money becomes imperative when you are broke. Online loan apps come in handy, especially in situations where conventional banks cannot come to the rescue. In many instances, the pressure blindens us […]

Common Myths About Insurance in Nigeria—Exposed

“When disaster strikes, many people rely on family, friends, or church members to raise funds in Nigeria. But how long can that model last in a country where everyone is also battling rising costs? Insurance is not un-African, it’s the structured version of that same communal support.” Why then do people avoid insurance? Shall we […]