Nigerian Man Shocked After Seeing Repayment for ₦400k Loan

A young man from Nigeria has expressed his frustration on social media regarding the repayment amount demanded by a loan application for a loan he intended to secure.

He deemed the sum excessive and urged a prominent influencer on X to continue highlighting the issues with loan applications.

The individual shared a screenshot from the loan service, revealing that he would be required to repay N904,000 for a loan of N400,000.

This includes an interest of N504,000, to be paid back in 12 installments over a period of 360 days.

The post elicited mixed responses, with some individuals indicating their willingness to proceed with the loan, while others criticized the loan application.

Below are some reactions to the post.

@chidiobbi said: “My is on FairMoney app 450k to pay 990k I’m no longer answering there call make the take me to court.”

@DeLight_Bearer said: “I’ve been out in the streets for 1 year. Separated from my family, barely feed. Drinking garri has become a norm. If I see a loan offer like this, I will take it even if it’ll cut my head off, but as long as I’ll get a roof for my family and face the consequences. 💔”

@bourby3 said: “Me wey borrow 200k to pay 400k naso dem dey call me and I tell dem the owner of the phone don kpai unless they can go meet am 😂 😂 😂 😂 na them dey console me say they’re sorry 😂 till 3yrs dem no call again.”

@JAgbontusi said: “This was what happened to me last week Sunday o. I didn’t ask for loan, these people just sent it into my account with interest of 80k plus. Like I wan mad, I nor ask for loan, why Una go come send me money wa I nor need.”