There was tension and apprehension in Ikare, ugbe and Arigidi Akoko today as agents from microfinance industries visited their customers demanding repayment of loan they have given them before the lockdown.

The agents of the microfinance industry however threatened and vowed to deal ruthlessly with the customers if they refused to repay despite total lockdown of markets and shops for the past five weeks.

Whereas many microfinance industries have suspended their collections during this government mandated lockdown according to three people who were aware of the development.

The lenders have now put some of their retail loan collections on hold, including physical collections on repayments from microfinance loans.

According to two of the customers, Mrs Bola Adewumi and Mrs Victoria Adamu, “since the coronavirus pandemic ravaging the country started no shop was allowed unless those selling food and medicine, whereas we’re selling wears.”

They disclosed that the industries were going about threatening to use force to recover the loans without regard for the situation of the country which is not conducive for any financial transactions.

“Many shops were under lock and key in strict obedience to government directives to curtail the spread of the Coronavirus pandemic.”

According to them, lack of inter state transportation and total closure of markets across the state had negatively affected socio-economic activities of the people in recent time.

They complained bitterly that coronavirus pandemic had rendered many businesses collapsed and moribund.

They however pleaded with the microfinance industries to tarry a little bit to allow the epidemic to stop thereby making normal business grow saying they will need them more than ever in the post-pandemic world.

Efforts of this correspondent to get the views and comments of these microfinance industries about the allegation of threatening and harrassment was not possible as of the time of filing in this report.

From Ibrahim Kilani