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The rise of illegal Chinese backed Loan Shark Apps in Nigeria

Nigerian YouTuber, Jude Bela investigates the recent proliferation of illegal loan apps lending money at extortionate rates. Some are even backed by Chinese interests and are illegally collecting data as well as cut throat interest rates. Why is the government not taking any action? 

The video also shares some of the heartbreaking stories of those who have been affected the actions of the criminals parading as micro lending organisations. The video claims the companies are mostly owned by Chinese nationals. Watch the video and find out.

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