• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, October 3, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Licensed money lenders warn loan defaulters

Loan

The Matters Press by The Matters Press
April 1, 2023
Reading Time: 1 min read
0
Intimidation, cyber-bullying by loan sharks

Money Lenders Association has warned individuals to desist from obtaining loans from licensed money lending platforms and deliberately refuse to liquidate such loans.

RELATED POSTS

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

Atiku’s hunger revolution, delusional – TMSG

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

Mr Gbemi Adelekan, President, Money Lenders Association, gave the warning to online loan defaulters on Friday in Lagos.

Adelekan reminded such defaulters to be aware that their data were domiciled in the databases of credit bureaus licensed by the Central Bank of Nigeria (CBN).

According to him, failure to repay such loans will attract negative repercussions on borrowers’ credit history.

Adelekan said that the development can affect their chances of obtaining loan facilities from other financial institutions and credit providers in future.

He, however, stated that borrowers with genuine reasons for default such as job loss or other peculiar circumstances were advised to contact their respective lenders immediately, to discuss new repayment arrangements.

He advised would be borrowers to only patronise licensed and registered money lenders to guide against becoming a victim of fraudulent practices.

“This is to avoid adverse information on their credit reports, that could deny them access to future credit facilities.

“The attention of Money Lenders Association has been drawn to some individuals who have continued to acquire loans but have deliberately refused repayment of the said loans.

“We wish to inform the general public that data of loan customers, most especially defaulters, are domiciled in the databases of credit bureaus, so defaulting would have its adverse effects on the credit history of such individual.

“The Money Lenders Association is an association of registered money lenders, and members abide by the professional code of conduct of the association.

“Members of the public are hereby advised to only patronise licensed money lenders for their short-term loan needs and for further information, kindly check www.MoneyLenders.ng,” he said.

Tags: Loan
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

September 24, 2025
Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s hunger revolution, delusional – TMSG

September 23, 2025
‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG
Economy/Technology

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

September 22, 2025
2023 maritime, shipping outlook force experts to call for aid
Economy/Technology

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

September 17, 2025
NBS reports increase in Inflation
Economy/Technology

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

September 17, 2025
Old pension scheme beneficiaries get a boost in entitlements
Economy/Technology

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

September 14, 2025
Next Post
Consumer commission, CBN, EFCC investigate violations in money lending

CBN urges Nigerians to embrace digital payment channels

Coronavirus hits hard as China records 811 deaths

China’s external debt declines in 2022

Recommended Stories

Osinbajo takes tradermoni to Lagos

Osinbajo takes tradermoni to Lagos

November 13, 2018
Visa-on-arrival counters expanded

Visa-on-arrival counters expanded

December 18, 2018
Nigeria, WFP worry over food situation

Food prices continue to rise in July- NBS

September 16, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎
  • Atiku’s hunger revolution, delusional – TMSG
  • ‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us