I have read reports from people about the despicable things loan sharks do all in the name of recovering loans from people.
I work as a data analyst and also with data audit agencies that have the responsibility to make sure companies conform to NITDA’s policy on data regulation, so I owe it to inform people about certain things.
First, it is wrong to collect money and not pay back but it is utterly despicable and highly wrong to use illegal and stupid means like sending text messages to contacts, calling the person a criminal and co to recover the money. I worked for a retail lending company and they never recovered bad loans in that manner. That is terrible and highly stupid. I hear LAPO used to shame debtors publicly in the market too.
You do not break the law to enforce the law and as i will show a lot of people here, those loan companies are actually violating the NITDA policy of 2007(as amended in 2019). I find it amusing that some people here actually said it is okay.
You blamed SARS for shooting yahoo boys without blinking an eye, you blame someone who killed an individual that stole from him. Why do you blame people who perform jungle justice on thieves? You condemn such act because even when it is clear one element is on the wrong side of the law, the other element went too far to enforce the law. So how is a loan company sending despicable messages to contacts of a supposed debtor something okay to you? It is disheartening the way so many Nigerians think. Yet these same Nigerians abuse government for using state agencies to intimidate opposition but they justify the dastardly acts of these loan companies. Can a Nigerian do that to Chinese people in China? Can Nigerians try the sort of high-level data breach on Chinese Nationals the same way these loan companies do to Nigerians?
I did my research about these companies and I had a friend who worked in Sokoloan as a credit review guy and he told me a lot of things. First if you have the Sokoloan app on your phone as you are reading this, I want you to know they can access your (1) Messages (2) Contacts (3) Images, pictures and videos (4) See all other apps you have on your phone. Read that again to understand. He told me of a case where they could see the nude pictures of a lady in the images folder from their software crawler, I mean they can see everything you have on your phone from their end if they want. So do you see how bad it is.
I will attach snapshots of the NITDA Policy Regulation of 2019 here so people can be informed. Report them to NITDA or FCCPC biko, these guys are breaching the data of millions of Nigerians daily. They are constantly violating the NITDA act and NITDA needs to step up on them.
If one wants to even outsmart them, all you need to do is back up your contacts on Google cloud or so and delete your real contacts while you just save fictitious and random numbers on your phone, download their app, collect the money and delete their app. That way they only crawl fictitious numbers and not real numbers. So, these companies need to know that they do not have the monopoly of despicability.

NB; A Data Subject refers to anyone that has his or her data with these loan companies. Let say i have my data with them, i am a data subject in the scenario above. A Data controller refers to the company that has my data and can use it for processing or for other purposes. In this case it can be the loan company if i signed up my data with them.

Many people do not even know that they can request for their data to be destroyed because it belongs to them. There is a data retention policy and data destruction policy contained in the regulation itself.


Find the emails for reporting here.
contact@fccpc.gov.ng
info@nitda.gov.ng

nanoprado:
I have read reports from people about the despicable things loan sharks do all in the name of recovering loans from people.
I work as a data analyst and also with data audit agencies that have the responsibility to make sure companies conform to NITDA’s policy on data regulation, so I owe it to inform people about certain things.
First, it is wrong to collect money and not pay back but it is utterly despicable and highly wrong to use illegal and stupid means like sending text messages to contacts, calling the person a criminal and co to recover the money. I worked for a retail lending company and they never recovered bad loans in that manner. That is terrible and highly stupid. I hear LAPO used to shame debtors publicly in the market too.
You do not break the law to enforce the law and as i will show a lot of people here, those loan companies are actually violating the NITDA policy of 2007(as amended in 2019). I find it amusing that some people here actually said it is okay.
You blamed SARS for shooting yahoo boys without blinking an eye, you blame someone who killed an individual that stole from him. Why do you blame people who perform jungle justice on thieves? You condemn such act because even when it is clear one element is on the wrong side of the law, the other element went too far to enforce the law. So how is a loan company sending despicable messages to contacts of a supposed debtor something okay to you? It is disheartening the way so many Nigerians think. Yet these same Nigerians abuse government for using state agencies to intimidate opposition but they justify the dastardly acts of these loan companies. Can a Nigerian do that to Chinese people in China? Can Nigerians try the sort of high-level data breach on Chinese Nationals the same way these loan companies do to Nigerians?
I did my research about these companies and I had a friend who worked in Sokoloan as a credit review guy and he told me a lot of things. First if you have the Sokoloan app on your phone as you are reading this, I want you to know they can access your (1) Messages (2) Contacts (3) Images, pictures and videos (4) See all other apps you have on your phone. Read that again to understand. He told me of a case where they could see the nude pictures of a lady in the images folder from their software crawler, I mean they can see everything you have on your phone from their end if they want. So do you see how bad it is.
I will attach snapshots of the NITDA Policy Regulation of 2019 here so people can be informed. Report them to NITDA or FCCPC biko, these guys are breaching the data of millions of Nigerians daily. They are constantly violating the NITDA act and NITDA needs to step up on them.
If one wants to even outsmart them, all you need to do is back up your contacts on Google cloud or so and delete your real contacts while you just save fictitious and random numbers on your phone, download their app, collect the money and delete their app. That way they only crawl fictitious numbers and not real numbers. So, these companies need to know that they do not have the monopoly of despicability.

No wonder most of una dey run mad enter market. U dey tell efryone to become a fraudster like you abi? U think say the worst dem fit do na to dey send messages to your contact?
If you collect person money to cheat the person, you dey play with your life. The calamity you go face go worse pass messages. Very soon, dis people una dey defraud will soon go diabolical with una. Wen we dey young, d pesin wey I no wey dey use dis your kind of cunny sense, na him only son dey use juju kill las las.

If you no go pay back loan, no go collect am. Shikena.

Even bible say the debtor is a slave.. Dem go soon send afflictions to you and your family if you think sending texts to your contacts is the worst dem fit do.

I see your brain passed out of your body the last time you went to defecate. Are you blind to see where i said it is wrong to borrow money and not pay back? Has climate change affected your senses or you just cannot reason properly slowpoke?? I am not the reason why you have a 15k job with Sokoloan. Official Yobo and Amoebic Nicompoop.

Nigerialabalaba:


No wonder most of una dey run mad enter market. U dey tell efryone to become a fraudster like you abi? U think say the worst dem fit do na to dey send messages to your contact?
If you collect person money to cheat the person, you dey play with your life. The calamity you go face go worse pass messages. Very soon, dis people una dey defraud will soon go diabolical with una. Wen we dey young, d pesin wey I no wey dey use dis your kind of cunny sense, na him son dey use juju kill am. If you go pay back loan, no go collect am. Shikena. Even bible say the debtor is a slave.. Dem go soon send afflictions to you and your family if you think sending texts to your contacts is the worst dem fit do.

nanoprado:
I see your brain passed out of your body the last time you went to defecate. Are you blind to see where i said it is wrong to borrow money and not pay back? Has climate change affected your senses or you just cannot reason properly slowpoke?? I am not the reason why you have a 15k job with Sokoloan. Official Yobo and Amoebic Nicompoop.

U tink say I be ' aneva chop ' like you. You wey dey tell efryone how to collect loan and japa, you tink say you well so.
Dem go swear for you and your family las las! Yeye!

Sense to get money legitimately you no get, na sense to dey defraud others you get. NITDA ko, NITDA ni! Go pay your gbese joor, onigbese.

I don see pesin wey people like you don put for trouble just because dem borrow you co-operative money and una japa. Till date, whenever I remember the suffer dat man face, I don vow to dey expose fraudsters like you. I no even know all the yeyenatu sharks you dey mention because I no be dem customer daada like you.

One thing be say if you dey my contact and I hia say you collect loan and you japa, your own don cast for my side be dat.

You have a problem communicating in proper English as you always revert back to Pidgin. Sorry I overestimated your IQ. I thought you were smart enough since you had a smart phone. My bad. No need engaging you again.

Nigerialabalaba:

U tink say I be ' aneva chop ' like you. You wey dey tell efryone how to collect loan and japa, you tink say you well so.
Dem go swear for you and your family las las! Yeye!

Sense to get money legitimately you no get, na sense to dey defraud others you get. NITDA ko, NITDA ni! Go pay your gbese joor, onigbese.

I don see pesin wey people like you don put for trouble just because dem borrow you co-operative money and una japa. Till date, whenever I remember the suffer dat man face, I don vow to dey expose fraudsters like you. I no even know all the yeyenatu sharks you dey mention because I no be dem customer daada like you.

One thing be say if you dey my contact and I hia say you collect loan and japa, your own don cast for my side be dat.

nanoprado:
You have a problem communicating in proper English as you always revert back to Pidgin. Sorry I overestimated your IQ. I thought you were smart enough since you had a smart phone. My bad. No need engaging you again.

Oga, no be by turenchi o. If you sabi write grammar like dis and u no get sense to make clean money and na to dey use your yeye sense teach people how to collect loan and japa, na dat kind sense dey kill.
I dey warn you now, no play with those people. Na you go lose las las aswear2gud!
By the time you run mad or get poisoned in your sleep or killed by a hit and run vehicle ,NITDA no go save you.

Go site go carry ponpon instead of using grammar to dey form upandan and go dey do pass yaself.

nanoprado:
NB; A Data Subject refers to anyone that has his or her data with these loan companies. Let say i have my data with them, i am a data subject in the scenario above. A Data controller refers to the company that has my data and can use it for processing or for other purposes. In this case it can be the loan company if i signed up my data with them.

Many people do not even know that they can request for their data to be destroyed because it belongs to them. There is a data retention policy and data destruction policy contained in the regulation itself.


Find the emails for reporting here.
contact@fccpc.gov.ng
info@nitda.gov.ng

Whether you can demand for your data to be destroyed depends on the nature of processing, the legal basis for processing, and the retention policy with regards to that processing activity.

The data subject can demand for any other of its right. Maybe right to object. Or right to be informed so as to know what is being done on their data with regards to the processing.

In all of this, with time, Nigerians will start demanding their rights as is stipulated in the Regulation.