Online loan is very risky – ICT expert

An expert in Information Communication Technology ( ICT), Mr. Frank Olarewaju, has warned the public against borrowing money online from unknown unions or clubs.

Olarewaju, who advised Ilorin on Friday, in an interview with News Agency of Nigeria (NAN), said that seeking a loan online was unsafe and dangerous.

He said most money lending clubs online were scammers and dangerous to transact or do business with.

“Most of the online lenders are scammers. They disguise to scam you when you submit all your bank details. Don’t be too desperate to borrow money from any online credit team. Stop submitting your financial details and PINs to unknown lenders” he said.

“Stop transacting with the Invisibles. Go to recognised banks or cooperative society to avoid being duped. When you start borrowing money online, your account is no more private. It becomes a public account and unsafe,” he added.

The expert also advised the public to desist from being desperate to submit every one of their details to online lenders for securing the loan.