A Nigerian woman is grappling with a financial crisis after mistakenly borrowing ₦2.5 million instead of ₦2,500 from a digital lending app.
The alarming mix-up was revealed by social media user @Amy_Adabeeke, who shared the story of her aunt’s distressing experience with FairMoney Nigeria, a popular lending platform.
According to a viral post on X (formerly Twitter), the woman intended to borrow a small sum of ₦2,500 to cover minor expenses.
However, due to a critical error, she was approved for ₦2.5 million instead.
The situation worsened when an additional ₦4.6 million in interest was added to the loan, bringing her total debt to a staggering ₦6.8 million.
In the post, @Amy_Adabeeke expressed frustration, pleading with FairMoney for a resolution.
She wrote: “Please @fairmoney_ng, my aunt was only trying to take out a loan of ₦2,500, why did you guys approve a loan of ₦2 million for her? And as if that’s not okay, y’all added an interest of ₦4.6 million extra? She had returned the money. Is there a way her dashboard can be cleared? To actually pay ₦6.8 something million.”
The viral incident has sparked debate online about the risks of digital lending platforms, with many calling for greater oversight and safeguards to prevent such errors.
FairMoney Nigeria has yet to issue a statement on the matter.