“Did you borrow from them?” a friend asked from the other end of the line. Alarmed and confused, Yinka checked his social media apps, which were also sending numerous notifications to his phone.
Cashbus, a loan app “had sent several defamatory messages to every (phone) contact on my mobile phone. They said I was a criminal and that the populace should avoid me,” Yinka tells The Africa Report.
Post-pandemic vulnerability
In 2020, following the outbreak of Covid-19, the Nigerian government declared a lockdown of major economic states worst hit by the virus, strangling a number of small business owners.
In the third quarter of that year, the Central Bank of Nigeria (CBN), reported that the economy was contracting, its worst decline since 1983. Similarly, the National Bureau of Statistics (NBS), Nigeria’s most reliable source of statistical information, estimated that over 80 million
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