By Abdulmumini Adeku.
A micro-credit firm,Cash be wise Limited in Lagos,Nigeria
has disclosed exclusively to Paedia Express Multimedia that they were been owed
at least N18million by customers in the land.
An impeccable source told this reporter that as at press
time they have only been able to recover a paltry N4million after going on a
funds recovery drive.
He revealed that at the moment they were only recovering
debts and were not any form of position to give out any form of credit facility
to any willing customer.
His words:”we can take jewelries and some other precious
things as our collaterals but not a piece of land,when we initially started
doing business we took possessions of land as collateral but people abused this
as they used fake documentations and
this is why we decided to stop taking this”
He added that the Lagos State government was at the moment
not giving any form of micro-credit license to any willing investor for reasons
best known to them.
He lamented that despite the willingness they were not able
to fur fill there immediate duties in the market place due to the challenges in
the Nigerian market.
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