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7 hours ago
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- A Nigerian antheral said a indebtedness helium took and added to his concern astir destroyed him, arsenic things didn't enactment retired arsenic planned
- According to the man, helium was offered a indebtedness of N4 million, but the wealth astir enactment his concern successful full chaos
- He said helium was expected to beryllium paying backmost N600,000, which is 15% of the wealth monthly, but his concern became dull
A businessman said helium took a loan, hoping to turn his business, but the wealth astir near him stranded.
The antheral who deals successful thenar lipid said helium collected the N4 cardinal indebtedness erstwhile helium wanted to grow his business.
Source: TikTok
In a TikTok video, Kalu Kelechi Kalu said helium was told to wage an involvement of 15% of the indebtedness fixed to him.
According to him, each month, the loan institution expected him to instrumentality 600,000 arsenic involvement connected the loan.
He said the N600,000 is not from the main magnitude but conscionable interest. Within 1 period of putting the money successful his business, income became dull. He said helium was utilizing the main magnitude to wage the interest.
He said:
"I took a indebtedness of N4 cardinal to beryllium paying backmost 15% monthly, arsenic interest. That is N600,000 monthly and this happening astir ruined maine successful 2023. So, I person been successful the thenar lipid concern for a while. I person been selling thenar oil. My concern was trying to increase. And I was similar 'how bash I summation my sales? How bash I bring successful much goods?' I was successful Plateau authorities then. I was servicing Plateau authorities and Nasarawa state. I stupidly decided to spell for a loan. This indebtedness was a indebtedness of N4 cardinal and it was negotiated that I volition beryllium paying 15% interest. That 15% is not that if I'm paying 15% I'm paying backmost the money. It means that each month, I volition springiness the lender 15% and the wealth is inactive successful bulk. So, each period I volition beryllium giving N600,000 successful perpetuity till I'm capable to stitchery the full N4 cardinal backmost astatine erstwhile and pay. So if it takes maine 10 months, I would person paid N6 million, inactive trying to wage backmost the N4 cardinal that I person not adjacent touched. That was the worse determination successful my life. I said this happening astir ruined me."
Source: TikTok
Watch the video below:
Reactions arsenic antheral shares his indebtedness experience
@Mr Africa said:
"That's a horrible indebtedness term, however did you hold to it."@jazzy said:
"All these loans firms are precise very diabolical but astir radical volition inactive uncertainty it. But bro did you judge you accepted specified ridiculous 600k involvement monthly outgo with wide eye's?"Anothe rman shares his acquisition with indebtedness company
Earlier, Legit.ng reported that a Nigerian antheral detailed the experience helium had with a indebtedness institution aft helium borrowed N44,000 successful March 2025.
According to the man, helium could not wage the indebtedness erstwhile it was due, truthful it resulted successful galore much charges connected his head.
He said alternatively of the N44,000 helium borrowed, helium paid N53,000 and an further N21,000 arsenic good for the overdue loan.
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Source: Legit.ng
