Lagos trader has paid his 10,000 naira debt but quick loan wants to ensure he ‘loses it all’


On September 27, Adewale Adefisayo, a Lagos-based marketing agent, had a financial emergency. When he could not get help from friends and family, he resorted to a loan of 10,000 naira from Deloan, a online money lending company.

Adefisayo, a first borrower on the loan application, told FIJ that he had to pay N4,500 interest on the money he had borrowed, and that despite the October 3 repayment deadline, Deloan would make the loan. ‘unthinkable in harassing and defaming him before reimbursement is due.

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Along with the threatening messages sent to him, the loan agency called his father and his friends alleging that he ran away with the loan he took out. One of the agents acting on behalf of the company also threatened to harm the distributor “until he loses everything”.

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“This loan agency called Deloan kept calling my contacts that I am on the run and that I ran away because I took out a 10,000 naira loan,” Adefisayo said.

“The loan was due to expire on October 3, 2022, only for me to wake up to threatening messages from them. I first got a message in the morning from their agent saying I had to pay by noon.

“Around 10am, I immediately repaid N5,000 out of the N10,000 I had borrowed from them. Note that the interest is N4,500. After that, I promised the agent that I would pay the balance before the end of the day, which was still the same day the loan was due to expire. But they started calling my contacts before noon.

“Before I knew what was going on, they had called my dad, who in turn called me to say that some people were embarrassing him on the phone. They also called a friend of mine. It was around 11 a.m. hours.

“I would have paid everything immediately, but we had not received our wages at work until now. But I was able to get some money from a friend and paid them before 12pm but they insisted I hadn’t paid.

“Surprisingly, around noon, the agent sent me a message full of threats. He said he wouldn’t stop hurting me until I lost everything.

“I got mad and told them I had paid. I immediately deleted their app, and went to playstore aiming to write a negative review about their app, but couldn’t find it.”

Adefisayo is not the only victim of Deloan’s harassment.

In May 2022, Oyenike Oyelere filed a complaint with the Consumer Complaints Tribunal website about threats she received from agents of the same loan group.

“I made the payment on my repayment date and two of their agents kept threatening me and harassing me that they would send messages to all my contacts saying I was a fraudster when I didn’t. violated our agreement. It’s very annoying and unacceptable,” Oyelere said.

Earlier this year, the IFJ reported that the Federal Commission for Competition and Consumer Protection (FCC) raided some illegal financial institutions operating in Lagos State.

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Previously, the commission had, in September 2021, issued a statement announcing the start of an investigation into rights violations in the money lending industry.

Despite the fines, sanctions and eventual closure of some of these companies, many of them continued to invent new ways to harass their debtors. Some of them have also changed their name and logo.

FIJ made several phone calls to Deloan, but they went unanswered. A text message sent to the company had also not received a response at press time.


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