Man Loses Property Over Wife Inability To Pay 4k Loan Secured From A Microfinance Bank

It was a sad experience for Segun Adeyemi after he discovered that his belongings were carted away by a micro finance bank over a N4,000 debt owed by his wife in Lagos State, western Nigeria. The incident happened at their residence at 3, Adeyeye street, Megida area of Ayobo Ipaja on the outskirts of Lagos. Among the items the bank carted away include their matrimonial bed, plasma television, refrigerator, generator, cooking utensils, cash and other valuables kept in the house.

According to Segun, his wife Remilekun Adeyemi, who is a petty trader, went to the management of Bisi Cash Microfinance Bank whose office is located at Onifade Road Junction in Ayetoro, Ogun State and borrowed N40,000 to start a business. He said before she was given the loan, the management first deducted their own interest from the loan and gave her the balance. It was also gathered that Remilekun also entered into an agreement to be remitting some amount of the money every week until she finished paying back the entire loan.
We also learnt that once a loan beneficiary defaults, all such person’s property will be confiscated, which is the fate Remilekun has suffered along with her husband. According to her, she had been dutifully paying the money until it remained N4,300 balance last week.

 She said she was unable to pay last week after their son fell sick and was rushed to a hospital.
While she was on her way to the hospital, the management of the bank invaded their home and carted away all their household items. When Segun went to the management to know why they did so, they told him that his wife breached the agreement. They told him that he was also liable because he knew about the loan and stood as surety for his wife.
When he offered to pay the money in order to take back his belongings, they refused and claimed that the property now belonged to them. When our reporter went to their office on Thursday, the staff confirmed the incident and said it was part of the agreement the woman entered with them. Efforts to contact the manager identified as Shade failed as she refused to speak on what transpired. She said they seized the property because of the debt she owed the bank.  investigation revealed that it was not only Segun and his wife that have found themselves in such predicament. Many other women whose belongings were seized were seen in the bank premises bemoaning their plight.

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Posted: at 27-11-2015 02:10 PM (9 years ago) | Addicted Hero

Make una no make me vex here,just 4,300naira debt,the micro whatever burgled into their home&made away with their belongings worth 100k,hmmmmm,Anyway the story is not true ,its superstory in making cos if na true,they neva born d baggas,ok what of d woman die nko???wetin dem go do?

Posted: at 27-11-2015 02:22 PM (9 years ago) | Hero

thats is bad. god pls help ur people that ar in need 

Posted: at 27-11-2015 03:05 PM (9 years ago) | Upcoming

Dis is not rite at all, d govt should intervene even d tv don cover d cost of d remaining loan...
D bank manager na tif....

Posted: at 27-11-2015 03:37 PM (9 years ago) | Hero

The bank sole intention is for the woman not to meet up with her payment so that they can confiscate her property

Posted: at 27-11-2015 05:56 PM (9 years ago) | Gistmaniac

i belive this man was nt the one that borrow money frm them, so they dnt have right of what so ever to collect the man property. am tired for this 9ja people self.

Posted: at 27-11-2015 06:11 PM (9 years ago) | Hero

na lie!!!!!!!!!!!!!!!!!!!! 4,300 naira if u beg for street self u go see am

Posted: at 27-11-2015 07:34 PM (9 years ago) | Grande Master

this micro finance bank are insensitive. after the expiration of the loan there a week or month grace.

Posted: at 28-11-2015 04:22 AM (9 years ago) | Hero

pls can i get his/her contact?

Posted: at 29-11-2015 10:48 AM (9 years ago) | Newbie