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How we are forced to disburse loans to people that didn’t apply – Loan app agents 

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Some agents working for loan apps, which include Palmcredit, Easybuy, Xcrosscash, and Newcredit, have shared some sordid tales of how their employers allegedly made them start disbursing loans to people that never applied nor requested loans and would later begin to harass them for repayment with interest.  

The mandate from their employers is to get loans disbursed to as many people as possible on a daily basis and by all means.

And that comes with a target that must be met: For some daily conversion is 20, while others have it as high as 35 and the target often becomes higher as the need arises, according to the agents. 

Conversion in the loan app parlance means the number of people each agent disbursed loans to on a daily basis.

To arrive at the conversion, each agent is given 270 mobile numbers of potential borrowers every day, the first target is to achieve at least 90 connects, this means that out of those 270 phone numbers, some of which may be switched off or no longer in use, they must be able to talk to at least 90 people, from which they must get at least 20 people to disburse loans to.  

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Consequences of failure 

According to some of the agents who spoke to Nairametrics under the condition of anonymity for the fear that the company might come after them, latching onto the high unemployment rate in the country, the operator of the apps stipulates termination of employment as the consequence of failure to meet the conversion target.

They, however, give agents the opportunity of being trained 3 times to learn more about how to cajole people into taking loans before being booted out if the targets are still not met.  

Another agent whose daily conversion target is 20 said: 

Shady interest rates 

For these loan apps, it is not just about pushing out the loans, the motivation is the high-interest rates attached which the borrowers must pay. Curiously, the loan apps are not open when it comes to the rates charged on their loans, which often led to some borrowers getting stuck in the process of repayment. 

One of the agents narrated:  

Below are screenshots from the responses of agents( image attached)


Protest and appointment termination 

Tired of the working conditions and what they described as unrealistic targets being set by their employer, some of the agents decided to stage a protest to demand better working conditions.

According to them, the management of the company handling the loan apps, Emtill Solutions Limited got wind of the plan and hurriedly issued an undertaking to be signed by all staff.   

Part of the undertaken, a copy of which was sighted by Nairametrics, read:  

Agreement form agents are made to sign

While some of the agents refused to sign the undertaking and went on to stage the protest within the premises of the company, 7 of them were handed their employment termination letter the following day. A copy of the termination letter dated August 4, 2023 reads: 

When contacted, the Human Resource Manager at Emtill Mr. Olurankinse Oludotun confirmed that indeed that the agents were sacked for protesting.

According to him, they were made to sign an undertake which forbid them from staging any protest.  

Company denies allegations 

While denying the claims by the agents that the working condition in the company was bad, he admitted that “there is always room for improvement.” Oludotun also described every other allegation levelled against the company as ‘untrue’.  

When asked why the company encourages the disbursement of loans to people that did not request it in order to meet targets, Oludotun said:  

On the claims that the agents are being given unrealistic targets that force them to be pushed out loans by all possible means, the HR Manager said: “That is not correct.” 


Between Emtill and Newedge Finance 

While the apps operated by the agents are owned by Newedge Finance Limited, a loan app company fully approved by the Federal Competition and Consumer Protection Commission (FCCPC), the agents were employed by Emtill Solutions Limited, a company that prides itself as “a leading contact centre in Nigeria, that provides both inbound and outbound multichannel customer service.”  

This suggests that Newedge Finance outsourced the management of its apps’ sales services to Emtill.

The agents, however, insisted that they were working for Newedge because all the customers they were dealing with were made to pay into Newedge finance accounts. 

When contacted, the CEO of Newedge Finance Limited, Ms. Jessica Ugwuoke, denied any knowledge of the employees that were sacked but was evasive about the company’s relationship with Emtill.   

On the list of approved digital lenders just released by the FCCPC, Newedge Finance has three loan apps registered to its name. These include Palmcredit, Easybuy, and Newcredit.  

Loan apps users continue to lament  

Aside from the issue of harassment and defamation of borrowers by loan apps which prompted the FCCPC in collaboration with other sister government agencies to come up with the registration framework for digital lenders, many Nigerians have continued to lament different atrocities of loan apps in the country.  

Now common across several loan platforms in the country is the practice of forcing loans on people.

Unfortunately, this is not peculiar to unregistered loan apps as many of the currently registered apps are also found guilty of this sharp practice.  

Sharing her experience with one of the loan apps, a victim, Joseph Oluwakemi, said: 

Borrowers are also lamenting the high-interest rates being charged by these loan apps, which oftentimes, are not fully disclosed before the loans are taken.

Many often realize in the course of repayment that they have to pay more than the interest rate stated before they took the loan.  

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