Published 30th Apr, 2025
By Abimbola Abatta
Victoria Laura (real name withheld), an Abuja resident, once took a loan from EaseMoni via her OPay app, and she repaid it. However, when she checked the loan feature on April 14, it was not to take a loan.
Laura told FIJ that she did not know that a loan of N244,000 had been disbursed until April 17 when a marketing call from EaseMoni prompted her to check the app. That was when she saw that she would need to repay N342,382 in three months.
“I was trying to remember my pin on April 14, for the purpose of future transactions so I can save it somewhere as I have tried the platform for loan services once. I did not know a loan was initiated in the process, as there was no confirmation that the pin I entered was correct. I logged out giving up on the goal at the time,” said Laura.
READ ALSO: OKash, EaseMoni Torment Port Harcourt Man With Daily Calls Over Account He Didn’t Open
Although OPay, a fintech company, does not directly offer loan services to users, it partners with EaseMoni, a loan platform Blue Ridge Microfinance Bank Limited operates. So, loan options found on the OPay app are facilitated by EaseMoni.
After an EaseMoni agent reached out to Laura on April 17 to advertise a loan offer, she decided to check the app.
“To my surprise, there was N244,000 in my OPay account,” she said.
“I freaked out and called EaseMoni’s customer service line, and the agent outrightly told me there was nothing they could do, and I had to use the money and pay back the interest, as disbursed loans can only be refunded within 24 hours of disbursement, which I am aware of.”
Laura said she was particularly concerned that both OPay and EaseMoni did not send her a text message for the approval and disbursement like they did the first time she took a loan.
Laura said the message would have alerted her. She would have acted immediately within the time frame of the platform’s refund policy.
READ ALSO: BY FIRE BY FORCE: EaseMoni, OKash, Others Keep Nigerians on Edge While Govt Agencies Stay Silent
When the service agent referred her to lodge a complaint via email, EaseMoni’s response reminded her of the 24-hour refund policy.
The Abuja resident sent a follow-up email to ask for an alternative way to refund the money without incurring the repayment of N342,382.
She said she wanted the loan company to assure her that she could return the money as a refund and that any accrued interest would be cleared from their end. But she got no assurance.
Laura said she tried to send the money at once, but it was not possible because EaseMoni had planned a repayment in instalments from its end.
She also received a response to her follow-up email on April 18. EaseMoni told her that the option to cancel the disbursed loan was not available. Then the loan company told her to repay the entire N342,382 within the repayment time frame.
“I took action to repay according to their repayment plan, but I upgraded to a two-tier account so I could send a lump sum,” Laura said.
She refunded N200,000 on April 22 and N44,000 on April 23. However, the app still indicates that she is required to repay N98,382 as interest by July 12.
This interest rate is what Laura wants EaseMoni to waive since she never intended to take a loan in the first place.
READ ALSO: Cashtree Wants N10,910 After It Sent Unauthorised N5,700 Loan to Oyo Teacher
When FIJ contacted EaseMoni by phone call on Tuesday evening, a customer agent identified as David asked for an email. He also said he would escalate the complaint to the appropriate channel.
On Wednesday, the loan company responded to FIJ’s email, stating that the loan was successfully processed and was not returned within 24 hours of disbursement.
EaseMoni insisted that the loan amount, along with the interest displayed on Laura’s dashboard, must be repaid.
“Please be informed that late loan repayment automatically incurs 1% daily rollover fee and can reduce future borrowing credit score,” the company added.
Your email address will not be published. Required fields are marked *
Published 30th Apr, 2025
By Abimbola Abatta
Advertisement
EaseMoni Tells Abuja Lady to Pay N98,382 Interest After Refunding N244,000 Loan ‘She Did Not Want’
Ogun Employer Wants Justice After Emmanuel Chinemezie Disappeared With Business’ N189,000, Equipment
Lagos Policemen Detain Innocent Corps Member, Extort N452,000
Against NITDA Regulations, JAMB Uses Official Social Media to Promote Personal Opinion
PWAN Homes Promised to Allocate Couple’s N12m Land Within 1 Week in April. They Failed
Rowland Opara Demolishes Lagos Ship Agent’s Inherited Property Without Her Consent
Ayekooto FM, Osun Police Declare Presenter Daniel Adefare Wanted for ‘Absconding With Station’s N1m’
Speaker Said House of Reps Was Digitally Inclusive. Evidence Showed Otherwise
Nigerian Needed UK CoS. Travel Agent Akinbamidele Akinnuga Took His £1,500, Delayed, Blocked Him
EFCC Eager to Charge E-Money for Defacing Dollar but Slow to Decide on Okoyas
Advertisement
Be the first to receive special investigative reports and features in your inbox.
View previous campaigns.
Be the first to receive special investigative reports and features in your inbox.
Email: [email protected]
EaseMoni Tells Abuja Lady to Pay N98,382 Interest After Refunding N244,000 Loan 'She Did Not Want' – FIJ NG
