Loan apps, borrowers in high stake game of mutual deception

By Olakunle Olafioye
Hard pressed by the biting economy in the country, many Nigerians are turning to digital lenders in search of relief. But the desperation of the moment often blinds many to the fact that such relief frequently comes with its own thorns. In the end the reality pits lenders and borrowers against each other in a relentless battle of wits, with each side seeking to outsmart the other in pursuit of its interests.
This was precisely the situation faced by James (not his real name) and a digital lending platform. Having taken out loans on few occasions in the past and consistently met the repayment terms, James built a track record that qualified him for a larger facili...