For years, a shadowy Chinese loan shark syndicate has torn a trail of havoc across weakly regulated West African jurisdictions. Finally, we get to see exactly who is behind the curtain.
These people certainly have collaborators amongst Nigerian Banks. Once that angle is revealed, the solution to this menace is going to become manifest. Great job King Dario.
Paystack cannot be exempt from this criminal activity. They couldn't have succeeded without Paystack who was the payment gateway on their multiple apps. I know this because I used both GoCash and Sokoloan.
I already knew they were using white label soultions with difderent interfaces cos the UX was exactly the same. And messages from GoCash would sometimes show Sokoloan as sender.
I also interacted with some others I didn't use and noticed same UX.
I kept wondering why Google was allowing these malicious apps on playstore and lost of all why Paystack was was processing their payments.
Wema bank is equally culpable in this.
Most of there repayment goes to wema bank.
So, wema bank is directly involved in this.
I implore everyone reading this article to go to app store and report this apps enmass and tag them malicious and harmful while we wait for the government and necessary office to take action. Thinking about the implications of having my data and financial database of my fellow countrymen is heart wrenching.
Thank you for the exposé David 👏🏽❤️
Even Palmcredit. They work under the auspices of Easybuy and send you loan requests
I almost committed suicide last year December because of this people before a friend advice me to block all their lines, David thanks for unravelling this myths
David try and see if there is any link between them and OKash which is run by Opay. I believe Opay is a Chinese company.
They're truly back or should I say they never left. They currently own starloan app and a host of many others including maza loan app. They keep changing names. Had bad experience with them as well. Our government is so docile at eradicating their existence from Nigeria.
FCCPC raided them some weeks ago. I am sure Babatunde Irukera (Chairman FCCPC) would like to work with you on this.
David, thanks for this masterpiece. I entered this shark money gulag late last year and I was a ghost of myself during said period, torrent of calls from family and friends asking why I ended up not redeeming my pledge on the loan I took. It was an excruciating period of my life and I regretted ever and the stain is still there till now
I think it's also important for we, Nigerians, to call out Google for clear violation of Nigerian laws. No organisation, regardless of how successful or large they are, should be allowed to break Nigerian laws and get away with it. Also, the Lagos State government needs to look into this with the view of bringing legal action against Google.
Weldone David, you are a breath of fresh air in this country. I pray for more courage, wisdom and may the covering of God be over you in Jesus name. Amen.
Great job David. We need to start ask Phillips consulting questions, if they are not forth coming with answers then we shall resort to naming and shaming them just like their partner thought us
#EndSARS would visit Folusho Phillips, his staff and his family members soon. Sokoloan office and staff should be prepared too. NOBODY will be spared.
There is ba law in nigeria that forbids interest higher than 48% per year.
Sadly most are not aware of it
Great job, David!