Is Micro-Finance Bank In Nigeria Turning To Ponzi Schemes? - See Customers Complaints


Someone shared this content on how Microfinance banks in Nigeria are gradually turning into a glorified ponzi schemes. I must say, after reading his information and complaints, I will advise people to desist from putting their money in a micro finance bank at least they ones owned by single individual. 

See his complaint below:

Hello all,

Please it happened that a friend who was employed by a micro finance bank in Port Harcourt earlier this year, Ksley Mega Vision Micro Finance Bank, Aba road branch, talked me into patronizing them.

Honestly, I was a bit relunctant at first, but after much persuation from her, particularly after making me understand what she would stand to gain if I invested in them, I decided to give it a trial.

Suffice it to point out here that she said that once I start saving with them, I can not have access to any part of my money with them within three (3) months, after which I can then be paid my capital, and any accruable interest.

To cut long story short, its been more than three months now, but sadly, there is no hope in sight with regards to my capital alone, talk more of interests.

This friend was honest enough to have given me heads up with regards to her fears about the firm. She opened up some time last month and explained to me how she feared that customers may find it difficult collecting their monies when the time is due.

As we speak, the management of this micro finance have gone totally blank on their field workers. They have stopped communicating them like they used to. The only managerial staff in their branch office could be said to be a mere ceremonial manager, who neither knows her left from her right.

I have visited them severally concerning my money but the case seems hopeless. It's obvious from all observations and investigations that they currently lack the financial capacity to off set all liabilities. What is even more anoying is the seeming gap in communication between the main managerial staff-- all of which I understand have since travelled out of the state to God knows where-- and the field workers/marketers who are still very much accessable.

Please, what practical steps can I take in recovering my funds with this irresponsible micro finance bank? They claim to be registered (though I am yet to independtly verify this), but how can I verify this?

If they are indeed registered, isn't there a process I could follow to get my funds back, Please, lawyers, financial experts, and any one who has experience in this kind of issue should help me profer possible solutions. Thanks

N/B: some friends have adviced I get the police involved and lock up the available marketers since they are all accessable, but I don't think that is the right thing to do.
Is Micro-Finance Bank In Nigeria Turning To Ponzi Schemes? - See Customers Complaints Is Micro-Finance Bank In Nigeria Turning To Ponzi Schemes? - See Customers Complaints Reviewed by Exlink Lodge on Monday, April 24, 2017 Rating: 5

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