Nigeria’s House of Representatives has set a motion that seeks the investigation and closure of fraudulent and illegal loan applications being used to extort money from unsuspecting victims.
The decision follows a motion filed by the representative of Orhionmwon/Uhunmwode Federal Constituency, Edo State, Billy Osawaru ay yesterday’s Plenary Session in Abuja.
Osawaru highlighted the activities of these operatives as “heinous,” explaining how their actions leave victims in dire conditions.
According to him, some of the victims are often subjected to severe torture and forced to hand over personal information, which is then exploited. “In many cases, the phone numbers and bank accounts of victims are used to borrow money from illegal and unauthorised loan apps, thereby incurring huge debts that the victims are forced to repay,” Osawaru said.
The lawmaker also expressed concern over the reluctance of banks to assist complainants without a Police report.
He called on the Nigeria Police, banks, and FinTech operators such as Opay and MoniePoint to prioritize cases of “one chance” operations and kidnappings reported to them.
The motion was adopted unanimously by the House without further debate.
