When the central
bank granted the micro finance banks funds for the ability to provide loans to
the populace it was welcomed with great applause. But little did we know that
most of the big boys in those Banks will turn around to start using the money
for themselves and their close friends.
But what is very baffling is that, they allow people to come in, submit documents, do investigation over your documents claims and all that and it ends there. It has come to our notice that most (if not all) Micro finance banks are running fraud. When we say fraud, we mean big time fraud.
But our worry now
is this? "Has AB Micro Finance Bank joined the soiled ones?
Why do we say
this?...It has come to our glaring notice, that AB Micro Finance Bank might have
a pattern of operating their own fraud so that the Central Bank does not get
suspicious of it.
Below is how the
operation is being carried out.
But this is where
the fraud comes into play:-
The Micro finance
banks open their doors for you. Receives you well, and even give you a cup of
tea to drink. They will make a promise to you what once all your documents are
submitted, and investigated to be true; you will get the loan in a week or two.
Once your documents
are submitted, that is the end…NO LOAN. The Micro Finance Bank will start
turning you round and round and round till you get tired of going there and you
stop. So what happens to the documents you submitted?
Meanwhile, the
report getting to us is that your documents were actually submitted to the
central bank and your loan has been marked as granted. If the loan has been
marked as granted, then who gets the loan?
Who are the Micro
Finance Banks giving the billions the central bank gave them to assist the poor
with as loan incentives to aid their small businesses? Who gets all the money
for the business at the end of the day? We will tell you in a moment.
The poor and the
needy persons submit all the documents, plenty of them that when you put them
together, if the loan were granted, it will run into billions. These documents
presented are submitted to the central bank stating that these individuals have
been granted the loan but it was all a lie as they never got it. Who gets it
then? The security officer at a Micro Finance Bank in Ogunlano drive (Not AB)
has the true story to tell you.
As said, in one of
the Micro finance banks we visited on Ogunlano drive in Surulere, we met just
two staffs there. Can you imagine it? Two staffs running a bank!.
Coincidentally, the security guard we met there happened to be an old friend
from school, and is a full quote of what he said (word by word).
"Ol boy make una no
just bother una selfs say una deh come here deh find loan. na wayo dem deh do
here. Even in other micro finance, dem security officers say na the same thing.
The Oga dem deh collect all the money give them rich man friends to do their own
business. I just deh pitty these poor women weh deh come here say dem deh find
loan.
Na their documents
Oga deh submit to govment as the people whe dem give the loans but at the end of
the day, the whole money are given to Oga dem big friends to do their own
billion billion business".
That was how we
stopped from going to that micro finance bank at ogunlano (their name is
withheld)
But why are we
writing about this? Why we are particular about AB Micro Finance Bank? This is
because they were rated to be the most honest and that they give the loan. But
we have been investigating on our own and following the reports of most market
women applying for loans at the Ajegunle branch of the bank and the story is
pathetic and not the outside world is made to believe
Here are a few
examples. Names of persons here have been changed.
Mama Linda:
My brother, I don tire o, but I no fit talk. I don deh come for this N30,000
matter for the past 3 months. When I first start to deh come, dem tell me say, I
go get am within one week. but na 3 months be this, money I no see and dem keep
telling me, come today come tomorrow.
Mama Urue:
Dem say make we deh come na...ehen I go deh come until na dem self go tire to
see my face. Dem hold my documents and one week don enter 4 months. (when asked
how much she is applying for). Na N42,000 I been tell dem o
But the third woman
has something a little different to say.
Oluwakemi:
Na the person dem weh wan do guarantee me, deh hold the loan o. The person weh
wan surety me nev er gree show up. Maybe once he show up and sign, dem go give
me. Dat one na the delay weh hold the loan for me now. I just deh pray sha
So we drove down to
the branch and Itire road to do more of these investigations and the people we
met there have not much different story.
Mama Eyor:
Ma broda. dem tell me say my "jurisdiction" no reach this branch. I no come know
wetin concern me concern "jurisdiction". Na loan I ask them to give me, not
jurisdiction.
Mr. Ukamn, is
another victim of come today come tomorrow. He submitted all documents as
required and has been going then and calling them but to no avail. Hear him.
Mr. Ukamn:
See, this people are mad. One way or the other, I am suspecting fraud. I have
been telling them to return my documents in all original forms as submitted, but
they are not giving me. I first applied for loan here before they sent me to
Ajegunle branch telling me that is my jurisdiction. What f**k. But I went all
the same. Submitted all the shit, they told me to.
But can you believe
I have been on this turn, turn, turn for 5 months now? They keep telling me they
will come to my office today, they will come tomorrow. They don lie so tey, they
don’t know what to tell me again. That stupid marketer, I will burst his brain,
I swear. Can you imagine all I have spent pursuing this loan? All the time I
have wasted? (when we asked how much he is asking for…). Just N1,200,000. If
they are not giving, let them tell me and let my documents be returned. Or is
something going on here that we don’t know about?
There is one
popular Nigeria actor who we got to know and meet on our line of investigation
over this loan issues and this is what we heard.
"Em, I was actually
looking for funds to complete a business I have stranded in Abuja which I have
invested a lot of money into over there. So someone introduced me to AB Finance.
When we came, they told me that I they cannot grant me loan as the loans were
not meant for running of contracts, but for businesses that are on ground and
can be seen. So I was advised to look for someone who can
surety
me and has a business in Lagos and then we can use the persons business as
fronting. I did as we were told submitted documents and for the past 6months
now, they kept turning me and turning me up and down".
So our question now
is this, has AB Micro Finance Bank joined in the fraud?
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