Customers in agony as Microfinance bank disappears with their funds

Pandemonium broke out at Mowe Police Station in Ogun State on Thursday, June 30, 2022, as some aggrieved customers of a Microfinance bank lamented how they’ve been defrauded.

From the customers’ lamentations, it was discovered that Microfinance bank promised to give them loans after they are only able to make some deposits.

Surprisingly to the customers, the Microfinance bank went into thin air after collecting deposits ranging from N50,000 to N200,000.

“About three of us jointly contributed N50,000 which we paid to them because we wanted a loan of N150,000. I suffered while I was pregnant to get the money that I gave them. Now that I have put to bed and I need it, the money has been lost,” a victim who identified herself as Funmilayo Adebayo was quoted as saying.

Another victim who also spoke on the matter, Morenike Ajayi revealed that she applied for a loan of N200,000 to boost her catering business.

“All my hope was on this money because I withdrew the remaining money in my account, borrowed more money from one of my friends with the hope that once I get the loan, I will pay her back and put the remaining in my business. Now, these scammers have ruined all my plans. Where will I start from?” Ajayi queried in her lamentation.

Confirming the incident, Ogun State Police Public Relations Officer (PPRO), Abimbola Oyeyemi said an investigation is ongoing into the matter.