Man Commits Suicide Over Inability To Repay N60k Bank Debt

CYRIACUS IZUEKWE

A father of three kids identified as Kola has reportedly committed suicide after he borrowed N60,000 to purchase a motorcycle but was unable to pay back the Micro Finance Bank he borrowed the money from.

The incident happened at Popoola Street, Abule Odu bus stop in Egbeda, Lagos where he resides with his family.

The deceased was said to have bought Hippo stain remover and drank after he failed to meet up with the time to pay the money he borrowed from LAPO Microfinance company.

P.M.EXPRESS gathered from residents that Kola’s business collapsed and he went to the Bank and asked for loan with  conditions attached on how he will be paying the money back.

The conditions included that he will be paying certain amount of money until he finished paying.

It was learnt that Kola was unable to repay the debt as he entered into an agreement with the bank following pressures from the family.

He was said to incurring certain expenses, and at the end there will be no money to pay the bank and the interest was reportedly increasing on daily basis.

P.M.EXPRESS gathered that while Kola was still not complying, the bank seized the motorcycle and he became jobless. It was gathered that the bank was still putting pressure on him to pay the balance and the interest accrued due to his default.

P.M.EXPRESS learnt that when the pressure became unbearable for Kola, he decided to take his life.

On the day the incident happened, it was gathered that the bank threatened to carry all his house property and hand him over to the Police.

It was then that Kola secretly bought Hippo stain remover, drank and died inside his room on top of his bed.

When his family who went to the church returned, they found him dead with the empty Hippo plastic container beside him.

When our correspondent visited the area, the residents confirmed the incident and expressed shock over what happened.

According to the residents, the matter was reported to the police while the corpse has been deposited in an undisclosed hospital from where it will be taken for burial after the necessary rituals.