How Chinese Sokoloan Lending Company Rips Nigerians Off With Shylock Loan
MICHAEL AKINOLA
Probably many Nigerians may not have realised that they signed their death warrant when an online Chinese credit financial company, known as Sokoloan Lending, offered to give loans to the public.
P.M.EXPRESS reports that the company, whose office is located at Acme Road, Agidingbi area of Ikeja, Lagos, was said to have frustrated debtors who borrowed money and were unable to refund the loan at the agreed period as they would be blackmailed on the social media as fraudsters.
Some of the debtors, who could not manage the blackmail, ended up committing suicide over the shame as was the case of a woman who took her life over such incident in Ibadan in Oyo State.
The frustrated woman as reported in the
social media in Agbowo area of Ibadan, Oyo State, was found with a note after committing
suicide because of the N8,000 loan, which she received from Sokoloan and could not
pay back. In the note, the loan was to be due in two weeks with a very huge
interest of N7,000. So in total, she was supposed to pay N15,000 back in 14
days for a loan of N8,000.
She reportedly begged the Customer Care team of Sokoloan to give her till the
month end, being a salary earner, as her loan was due since 15th of January. But
they treated her badly and harassed her severally through the phone. Then four
days later they started calling and sending messages to her contacts through the
data she had submitted before she obtained the loan. They had called 49 of her
contacts before she eventually took her life.
The deceased was unlucky unlike another lady in Lagos, identified as Naomi, who survived the shock after she realised that Sokoloan Lending company had circulated her name on social media as a suspected criminal warning her contacts not to have any dealings with her because she took a loan from them and had not pay it three weeks after the repayment period elapsed.
Naomi narrated that she had borrowed money from the company on several occasions and repaid the debt before the recent one; she borrowed N14,000 to pay 45 percent interest making total of about N20,400.
She said when the date for payment elapsed; she notified the company through the Customer Care Department and asked them to extend the time. She said the next thing was several calls from her contacts asking her why she turned into a criminal and they then forwarded the messages Sokoloan had sent to them warning them not to have any dealings with her.
“Since the incident, my health has deteriorated because of the trauma and yet the company was still calling me for repayment of the debt after destroying my image in the social media” she narrated.
It was not only Naomi and the deceased that had suffered similar trauma orchestrated by Sokoloan Lending company; it was gathered that many who have suffered such mental torture have not recovered in different locations across Nigeria.
P.M.EXPRESS findings revealed that those who borrow money from the company usually found it difficult to repay it owing to the high percentage attached to the loan which was usually between 45 to 50 percent interest.
It was gathered that the company, though located in Nigeria, does not have regard for the Central Bank of Nigeria regulations on interest, which was said to be within the range of 9 and 10 percent.
When P.M.EXRESS contacted the company and stated the reason for contacting them, the Customer Care staff switched off the phone.
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I wonder why the CBN and the regulating authorities have not checked their excesses… Some used me as a guarantor and I never got any notification. Their very insultive customers care reps had been harassing me calling all sort of names.
As I write this, I am at the point of either loosing my mind or my job because of the loan I collected from this soko fraudsters. They have sent all kinds of incriminating messages to my office and contacts I have tried to get a lawyer for them to retrieve the message but couldn’t afford the fees. Please help as am about loosing all I have laboured for because of 12800. Please don’t published
My name
Mine was just 4,776 only, and they called and sent messages to my contacts accusing me of being a fraudster, all this are happening due to the level of corruption in this country, why is it that all chinese companies in Nigeria are so lawless and our government are not doing anything at all to them
I am also going through the same issue right now ooooooo they have sent several message to my contacts saying I am on the run seriously it’s getting crazy what can one do
Sokoloan lending company has no regards for their customers. They did the same to me. They sent defamatory messages to my contacts, damaging my reputation just because i was 3 days late with loan repayment. A member of their once asked me for a bribe in order for me to have access to higher loan amount. CBN needs to do something about these predators
You can all register your complaints with CBN. They encourage it. cpd@cbn.gov.ng
These Chinese sokoloan company are reputation destroyers, for them to have the effrontery to castigate & make reputation damaging defamatory statemens about me & a whole lot of other people …they should be sued & sanctioned.
Soko loan have really damage my reputation because of 10000 they contacted all my contacts and presented me as a fraud star just because i was 2days late to pay the 10k I borrowed….. My life and reputation is seriously affected with this so called soko loan…. I can’t imagine how we became slave in our own fathers land. Those can need to be sued….. Each time their customer care call me always raining insult on me calling me bastard etc… Pls let the government look into this for this abuse on our right…..
Please Nigeria govt should work on sokoloan lending company this company is Chinese people, BCS people are dead bcs of the interest rate all sort people name on social media please Nigeria govt help also CBN work on it my own father land.
I seek I loan from them 5000 to pay 8000 I paid them 5000 it remains 3000 I told them am going to pay them the third day now they have send messages to all my contacts that am a chronic debtor and FRAUDSTERS after this defamation of character they still call me to pay their remaining money
I seek a loan from them 5000 to pay 8000 I paid them 5000 it remains 3000 I told them am going to pay them the third day now they have send messages to all my contacts that am a chronic debtor and FRAUDSTERS after this defamation of character they still call me to pay their remaining money gov should do something about this evil soko loan
I am already loosing my mind because of the loan I collected from Sokoloan. Below are the messages they are sending to my contacts
TINA is a criminal on the run with company money,kindly inform her to refund the money now.9JA CASH
BEWARE THAT THE FAMILY OF TINA ARE RUTHLESS CRIMINALS WHO ON A DAILY BASIS DUPE PEOPLE OF THEIR MONEY.CURRENTLY THEY ARE ON THE RUN WITH A COMPANY’S MONEY AND ARE REFUSING TO PAY.BE CAREFUL OF THE THIEVES AS THEY ARE WANTED BY THE POLICE.
report the app to. Google, get 10 other people to do that
Go to the app store search SokoLoan. When it opens look at the 3 dots at top right corner. Click report as inappropriate.
Shikena be that. Google will knock them off the app store
They are still doing the same thing to me right now the forwarded the same message to my contacts including my mom who almost gave up this afternoon seeing the message.
They’ve come to the end of the road. They did mine to me today 13th of April 2021. I collected a loan of 5k to repaid with #70120 to run for 10 days. When I couldn’t pay the loan on the day it became due; they started sending libelous and defamatory messages to my contacts. I’m a lawyer pls we need signatories to bring legal actions against this business cloak called soko loan.
Come to Human rights commission, maitama, complaint room ground floor. Mine they sent to all my contacts that I am a kidnapper and armed robber.
Am also suffering the same thing right now! Infact I was at police station yesterday and called one of their numbers to come pick me up. All I need is a face of one of those wicked souls that destroyed my reputation to those my contacts that doesn’t know me well. Instead of them to come down to the police station, she started insulting me. There should be a way to deal ruthlessly with these people.
Soko loan is most fraudulent organization and i will make sure i get lawyer to follow up my case. I paid off my loan of just 5k i borrowed for urgent reason and still, they went further to message all my contacts just because of few hours delaying which was as a result of network that do not allowed me pay via online. They are stupid and useless.
It is only a competent court of justice that can declare one a criminal. Take them to court let them provide evidence of criminality or pay the huge penalty for libel. Nigeria is not a lawless country but lawlessness thrieves with silence.
They just did same to me,my dad just called me and was telling me the message he received that I ran away with company money lol… since it’s their way of getting their money back I will tell any of my contacts that called me that they are scammers and they won’t get a Kobo from me not after what they have done useless people.
They just did same to me, dey even called my mom n sent her msg of which she is hypertensive patient. And ve paid part of dere money n promise to pay d remaining. He even sent a picture dat i am wanted dat he is going to post it to social media today i am owning 22000 wit daily interest. Plz help o
Pls ooo, this guys have finished me, how do I go about it, they re not just texting my contact, they calling dem
My case was even worst , I went to retrieve my sim only for messages from my contacts that my name is written bodly that am a debtor though I don’t have the money now , I begged them to give me time , I nearly committed sucide because they spoilt all my names
By the time I’m done with sokoloan, I won’t have to work for money again
The most useless app ever. I borrowed 7 thousand naira only and was unable to refund the money at the due date, due to some reasons. They’ve deducted up to 50k from my account now. How do I go about this please?🥺 I mustn’t leave money in my account. They’ll deduct everything