The Christian Association of Nigeria (CAN) has urged the
Ministry of Finance, the Central Bank Nigeria (CBN) and other regulators to
look into the activities of loan sharks.
The apex religious body, led by Rev. Supo Ayokunle,
complained that loans were being granted to people by several dubious
companies.
CAN Secretary, Joseph Daramola lamented the antics of
faceless persons giving out loans to vulnerable Nigerians trying to survive the
economy.
“Unscrupulous people developed apps to extort money from the
innocent people in the pretext of giving them short loan facilities”, his
statement on Thursday reads.
CAN said their interests are not only higher than the banks,
but they use blackmail and other antics to get their money back in case of a
default.
The Christian leadership noted that victims overpay the loan
secured then run into trouble “as a result of the ungodly interests”.
Daramola observed how companies harass and embarrass the
contacts of their victims, asking them for intervention to recover their money.
“These are not only against the financial regulation but
totally unacceptable, irresponsible, suicidal and unfair”, he fumed.
CAN called on CBN Governor, Godwin Emefele and the Finance
Ministry to intervene before Nigerians resort to suicide or other means of
“self-help to free themselves from the public ridicule”.
Noting that it is easy to castigate those who take such
loans because they were not forced, Daramola said the economy forced many to
seek money for survival.
CAN told the Federal Government to bring the economy out of
the woods “as a way of restoring sanity back to the polity”.
“We don’t need the quarterly report of the National Bureau
of Statistics (NBS) to know that life is becoming unbearable and tough for the
citizens”, the statement added.
The Federal Competition and Consumer Protection Commission (FCCPC)
has commenced an investigation of some loan sharks.
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