Home Blog Page 5

How to Prevent Any Loan Apps from Calling Your Contact and Disgracing You

By
Seun Ogun
-
0
How to Prevent Any Loan Apps from Calling Your Contact and Disgracing You

Have you ever struggled with pesky loan apps constantly calling your phone and contacts without your permission? If so, you’re not alone. In Nigeria, predatory lending apps have become a huge problem, disgracing people by sharing their debt with friends and family without consent. However, there are effective steps you can take to stop these harassment tactics and regain control of your privacy. 

When I was a university student a few years ago, I was in a tight financial situation and resorted to using several online loan apps.

 At first, the loans seemed like a good shortterm solution. However, it didn’t take long before the issues started. No matter how many payments I made, the apps demanded more and more money along with excessive interest rates. If I missed a payment for any reason, they would call and text me at all hours of the day and night with threats. 

Even worse, they began contacting all the numbers in my phonebook, shamelessly telling people I owed them money. It was humiliating and stressful. I knew I needed to find a way to make it stop.

How Predatory Loan Apps Operate 

To prevent harassment, it’s important to understand how these predatory lending apps work. 

Many target people in desperate financial situations and promise easy money, but the loan terms are intentionally deceiving. 

High interest rates and penalties ensure it’s nearly impossible to ever pay off the full amount owed. They then use aggressive harassing tactics like excessive calling and sharing personal debt information to coerce repayment. While lending apps serve a purpose, predatory ones violate privacy laws and basic human decency.

Register a Do Not Contact Request 

The first and most important step is to formally request that any lenders stop contacting you. Under Nigerian privacy laws, lenders must honor requests to stop calling, texting, and sharing your details with others. To submit a do not contact request:

Gather Lender Contact Information

Find the proper addresses and contact details for any lenders harassing you. Check emails, texts, apps, and loan documents. You’ll need specific company names and addresses.

Submit Requests in Writing  

Draft a brief, polite letter or email to each lender requesting that all contact with you or your information cease immediately. State that any future contact will be considered harassment. Send the requests by registered mail to ensure delivery.

Follow Up if Necessary

If harassment continues after a week, send a follow up letter restating your request and warning of legal action if they fail to comply. Make sure to keep records of all correspondence in case you need proof later.

Report Harassment to the Appropriate Authorities

If your contact requests are ignored, it’s time to get authorities involved. Document all incidents of unwanted contact and next take the following actions

File a Police Report 

Visit your local police station and file an official report about the harassment and privacy violations. Provide all documentation of your requests and their continued contact. This creates an official record.

Contact the Central Bank of Nigeria

The CBN regulates financial institutions and lending in Nigeria. Report the harassment and privacy issues, including the lender’s failure to honor your do not contact request. The CBN may investigate and take appropriate action.

Contact Your State Ministry of Justice  

Consumer protection organizations at the state level can also assist with holding predatory lenders accountable. Provide full reports of the situation and request they intervene on your behalf.

Protect Your Privacy and Personal Information

While working to stop harassment, also make sure to protect your privacy going forward.

Update Privacy Settings on All Accounts

Go through all social media, banking apps, and other online accounts and remove access to your contacts, call logs, messages and tighten privacy controls. Don’t share details publicly.  

Refrain from Providing Unnecessary Contact Details

Be cautious about giving out your full name, phone number or addresses to unknown entities. Only provide minimum details required.

Get a New Phone Number  

As a last resort, porting your phone number to a new SIM card or device ensures past contacts have no way to reach you. Consider this if other options fail. 

Use a Mouth Guard and Private Contact Details

Give out a temporary “mouth guard” number to lenders instead of your real one. Only provide your actual contact to trusted parties.

Conclusion

With a bit of effort, you can protect your privacy and peace of mind from harassing loan apps. Don’t be afraid to stand up for your rights using the steps above. Regain control by submitting do not contact requests, reporting improper behavior to authorities, securing your information, and avoiding risky loans in the future. Focus on longterm financial health so you never feel backed into a corner needing predatory “help” again. Stay committed, and you will overcome this stress and build a better path ahead.

FAQ

Can a loan app access my contacts after uninstalling?

After uninstalling a loan app, it should no longer have access to your contacts. To ensure this, you can disable contact permissions on your device for the specific app. Preventing loan apps from accessing your contacts is crucial for safeguarding your personal information and privacy.

What can I do if the loan apps are still contacting me after reporting them? 

If harassment continues even after following all the steps above, you may need to consult a consumer attorney. They can send formal legal notices on your behalf demanding the behavior cease immediately or face potential lawsuits. Keep meticulous records of all unwanted contacts in case legal action becomes necessary. Most lenders will back down once faced with credible threat of real consequences.

Why is My Flutterwave Account Frozen? How to Unfreeze it

By
Seun Ogun
-
0
Why is My Flutterwave Account Frozen? How to Unfreeze it

Flutterwave is a hugely popular payments platform used by merchants all over Nigeria. However, there are times when an account may get frozen or restricted by Flutterwave for various reasons. In this article, we will explain in detail the most common causes Why is My Flutterwave Account Frozen? How to Unfreeze in Nigeria and the steps to unfreeze a suspended Flutterwave account.

Why Would My Flutterwave Account Get Frozen?

There can be several potential reasons for your Flutterwave account to be frozen, including

1. Failure to Complete Know Your Customer (KYC) Verification

Flutterwave requires all users to complete KYC verification for anti-money laundering purposes. If your KYC is pending or incomplete, it may lead to account restrictions.

2. Suspicious Transaction Activity

Flutterwave monitors transactions for any signs of fraud or money laundering. Large or complex transactions without clear commercial purposes raise red flags.

3. Complaints from Merchants or Customers

Repeated chargebacks, disputes, or complaints against your business may attract negative attention from Flutterwave.

4. Violation of Flutterwave Terms of Service

Engaging in any prohibited activities like selling banned products/services can attract freezing under the terms of service.

How Do I Check the Status of My Frozen Flutterwave Account?

Login to Your Flutterwave Account

Try logging into your Flutterwave account through the website or mobile app. An error message will indicate if the account is restricted.

Contact Flutterwave Support

Reach out to Flutterwave customer support through live chat, email, phone or social media to inquire about the status and unfreeze requirements.

Check: Flutterwave Customer Care Number, Whatsapp Number, Email Address and Office Address

How to Unfreeze a Flutterwave Account

1 Complete Pending KYC Verification

This is the most common reason. Submit pending KYC documents like ID, utility bill, etc. Clearly explain any delays in previous submissions.

2. Clarify Transaction History and Purpose

Flutterwave may ask for additional clarification or documentation on past transactions raising red flags. Submit transaction details, invoices or agreements.

3. Address Merchant or Customer Complaints

Have a dialogue with disputing merchants or customers, and update Flutterwave about resolutions for open disputes or chargebacks.

4. Comply with Platform Policies

Confirm your business activities adhere to Flutterwave policies regarding prohibited goods/services. Provide assurances of future compliance.

5. Wait for Flutterwave to Review and Approve

The review process may take a few days. Remain in contact with support and provide any follow up details requested.

Conclusion

Freezing of Flutterwave accounts is usually done to comply with regulations and address suspicious activities. By maintaining clear records, good conduct and open communication, the risks of account suspension can be minimized. Following the steps outlined enables resolution of frozen accounts quickly to resume business operations on Flutterwave.

FAQs

How long does it take to unfreeze an account?

The time it takes to unfreeze a bank account depends on the reason for the freeze, but typically ranges from a few days to several weeks. For simple misunderstandings or technical glitches, the account can usually be unfrozen within 7-10 days. 

If the freeze is due to suspicious activity, the bank may require additional verification such as answering security questions, providing ID, or visiting a branch in person. This can be resolved in 1-3 days

Best Currency Pairs to Make More Profit in Forex without Losing so Much

By
Seun Ogun
-
0
Best Currency Pairs to Make More Profit in Forex without Losing so Much

When I first started trading Forex as a young man fresh out of university, I lost a lot of money trying to chase big profits by trading volatile currency pairs recklessly. It took me a while to learn that in Forex, consistency is key and slow, steady gains were more realistic than gambling on risky pairs hoping to double my account overnight. 

In this article, I will share the top currency pairs in Nigeria that are suitable for making consistent profits without the big risk of loss due to volatility. 

What is Forex Trading?

Forex, also known as foreign exchange or FX, is the largest financial market in the world with over $6 trillion traded daily between participants. In Forex, you can buy and sell currencies from different countries and make money from fluctuating exchange rates. For example, if you think the US Dollar will rise against the Euro, you would buy USD/EUR and profit if the dollar indeed strengthens against the euro.

A big mistake new Forex traders often make is jumping on volatility without considering risk management. High volatility means bigger market moves, which translate to bigger profits but also bigger losses if the trades go against you. The key is to pick currency pairs that offer steady moves and lower risk, like:

Best Currency Pairs to Make More Profit in Forex without Losing so Much

The major currency pairs make up over 90% of all trades in the Forex market. These include:

EUR/USD (Euro vs US Dollar)

As the two most heavily traded currencies, EUR/USD enjoys ample liquidity and tight spreads. Its moderate volatility makes it suitable for day traders and position traders alike. This pair generally moves in coordination with economic data and geopolitical events from Europe and America. 

GBP/USD (British Pound vs US Dollar) 

Also a liquid pair, GBP/USD has daily movements directly tied to UK economic statistics and Brexit developments. It has slightly higher volatility than EUR/USD due to the UK economy’s exposure to global risk factors. However, the moderate moves allow for consistent profits over time.

USD/JPY (US Dollar vs Japanese Yen)

Characterized by low volatility and tight spreads, USD/JPY is well-suited for conservative traders. As a safe haven currency, the Yen’s demand fluctuates with global risk sentiment – this pair benefits from trending periods driven by macroeconomic themes.

The Minor Currency Pairs

While offering less liquidity than majors, these mid-tier currency pairs can still deliver steady returns within an acceptable risk profile:

AUD/USD (Australian Dollar vs US Dollar)

Correlating closely to commodity prices like iron ore and gold, AUD/USD moves tend to follow broader risk on/off trends. Its moderate volatility means follow-through from both positive and negative catalysts. This pair is easier to trade during overlap between Australian and US trading sessions. 

NZD/USD (New Zealand Dollar vs US Dollar)  

Driven by global dairy prices, this pair follows a similar high-beta risk profile to AUD/USD. Opportunities arise from policy shifts or data surprises in either America or New Zealand. The best strategy is to aim for frequent, smaller gains rather than infrequent outsized profits with this mid-tier currency.

EUR/GBP (Euro vs British Pound)

Political news has strongly influenced EUR/GBP price action in recent years but cross-border economic reports also impact trends between these two European neighbors. Traders may look for setups at technical levels or following data/speeches on either side of the Channel.

USD/CAD (US Dollar vs Canadian Dollar)

As Canada’s top trading partner, the USD/CAD pair often moves on conflicting policy signals between the Bank of Canada and US Federal Reserve. Although less liquid than the majors, opportunities emerge from breaks of major chart levels and mixed domestic indicators.

Tactics for Steady Profits

Now that we’ve covered suitable currency pairs, here are some successful strategies Nigerian Forex traders use to produce steady gains over months

Stick to the Major Pairs 

Aim for small wins each day by trading reversals, breakouts or retracements within major pair ranges. Scalp 5-10 pips during higher volatility sessions for consistent profits. This low-risk approach minimizes drawdowns.

Use Stronger Timeframes 

Analyze daily and 4H charts to filter only high-probability trades. Look for consolidation periods ending in breakouts or fakeouts near key higher timeframe levels.Enter trades only during low-volatility periods for follow-through. 

Focus on Fundamentals 

Watch economic indicators and central bank meetings on pairs like EUR/USD, GBP/USD. Trade the initial reaction to surprises rather than reverting moves, which carry more two-way risk. Fundamental catalysts often spark multi-day trends.

Trade Major Cross Pairs Too

For experienced traders, keep an eye on liquid cross pairs involving USD, EUR and GBP. Look for divergences at chart resistances on EUR/JPY or GBP/AUD, for example, and trade the resumption of prior trends for consistent 10-20 pip gains.

Conclusion 

By choosing currency pairs with steady, lower volatility profiles and concentrating on strategic entries driven by technical patterns, news or liquidity flows, Nigerian forex traders can gradually build their accounts over weeks or months through optimization and discipline. 

Avoid chasing volatility with overly aggressive trade sizes. Remain patient, sticking to pairs and strategies that historically delivered small wins more frequently for the soundest path to consistent profits.

I hope this guide provides a solid starting point for trading currency pairs profitably in Nigeria without assuming undue risk.

FAQs

What pairs move 100 pips a day?

Forex currency pairs like EUR/USD, GBP/USD, and USD/JPY are known to move 100 pips a day under the right conditions. Additionally, currency crosses such as GBP/JPY and EUR/JPY exhibit heightened volatility, offering daily ranges of more than 100 pips. For those keen on trading the most volatile pairs, exotics like USD/TRY and EUR/ZAR can provide significant price movements, with average daily ranges of 150-300 pips.

What to do After Having Too Many Debts with Online Loan Apps and Couldn’t Pay Back

By
Seun Ogun
-
0
What to do After Having Too Many Debts with Online Loan Apps and Couldn’t Pay Back

When I was in my third year of university a few years ago, I found myself in a difficult financial situation. As a student, money was always tight and it was hard to make ends meet each month. One day, a fellow classmate told me about these loan apps that offered fast cash loans with no collateral required. Curious, I downloaded a few of these apps to check them out. 

The apps made the loan application and approval process seem very straightforward. I just had to provide my BVN, a selfie photo, and details about my monthly income. Within minutes, I was approved for a ₦20,000 loan with a 2-week repayment timeline. The interest rate seemed reasonable at first. Relieved to now have some cash in hand, I was able to pay my school fees and buy some books that I needed.

However, a few weeks later I realized I did not have enough money to repay the full loan amount plus interest by the due date. That’s when I made my first mistake – I took out a second, larger loan from another app to repay the first one. And so the cycle continued, as I kept using new loans to pay off previous ones. Before I knew it, I had accumulated debts from 6 different loan apps, totaling over ₦150,000. By this point, the accumulated interest rates had caused the debts to snowball terribly. Each month, the minimum repayment amounts increased, and I struggled to keep up. I started missing payment deadlines and incurring penalty fees, sinking deeper into debt.

It was a scary situation to find myself in during my final year of university. I was stressed out all the time, worrying about how I would repay such massive debts. That’s when I realized I needed to learn more about these loan apps and devise a plan to get out of this debt cycle before it was too late.

So, in today’s article, I will be showing you the practical way on What to do After Having Too Many Debts with Online Loan Apps and Couldn’t Pay Back.

Risks of Online Payday Loans 

To properly understand my situation and come up with a way out, I did some research online on the workings of payday or online payday loan apps. These are some of the key things I discovered

High Interest Rates 

The interest rates charged for these short-term loans are typically between 300-500% Annual Percentage Rate (APR). Compared to traditional bank loans which may have single-digit interest rates, these payday loan rates are extremely predatory. The high costs make the loans very difficult to repay on time, trapping borrowers in a cycle of constantly taking newer loans to pay off previous debts.

No Proper Affordability Assessment

Unlike banks, these loan apps do minimal checks on applicants’ ability to repay the loan amount. They rely solely on providing proof of steady income like a pay slip. This makes it easy for anyone to qualify for loans, even when they cannot realistically afford the repayments. 

Short Loan Terms 

Most payday loans are structured to be repaid within 2-4 weeks, along with the accumulated interest. But many borrowers realistically get paid monthly salaries, making the short repayment windows very difficult to meet in practice without defaulting.

Risk of Debt Spiraling 

If the loan cannot be paid in full on time, borrowers may resort to “rolling over” their debts by taking newer, larger loans. This causes the total debt obligations to grow rapidly out of control through compounding interest charges with each rollover.

These were some alarming revelations for me. It became clear how predatory the business model was for these loan apps and why I had sunk so deep into unmanageable debt.

How to get out of Debt with Online Loan Apps

Understanding the risks opened my eyes to how urgently I needed to tackle this debt problem before it completely ruined my financial future. Here is the step-by-step strategy I developed:

Stop Taking Any New Loans  

The first step had to be stopping the bleeding by avoiding taking any newer loans that would only add to my debts. I knew I had to find solutions within my existing means to start paying off loans.

Create a Detailed Budget

I sat down and listed all my sources of monthly income as a student, like allowances and side jobs. I also listed all essential expenses like rent, utilities, food etc. This helped identify any areas I could potentially cut costs to free up money for loan repayments.

Contact Lenders to Restructure Loans 

I spent time contacting each lender one by one to explain my situation politely and request better terms. Things like lower interest rates, waived penalties, or extending the terms of the loans to make monthly payments more affordable. Interestingly, two lenders did agree to such concessions after negotiations.

Ask Family for Temporary Help

I spoke to my parents and sister, admitted my mistakes, and requested if they could lend me interest-free amounts equivalent to one or two of the loans in total. This helped take some immediate pressure off.

Make Minimum Repayments Strategically 

With a bit more breathing room, I focused on making at least the minimum repayments due to prevent penalties or affecting my credit scores. I started with the loans carrying the highest interest rates as each successful repayment reduced my accumulating interest costs.  

Track Repayments Religiously

To stay on top of the numerous debts and repayment deadlines, I maintained detailed records of loan amounts, due dates, payment schedules, interest applied each month etc. in an Excel sheet. This organizing method helped keep me accountable.

By executing this measured strategy consistently over the next 6 months, I was finally able to emerge completely debt-free once again through sustained focus and discipline. It was not an easy journey, but one that taught me very valuable lessons.

Conclusion

To conclude, while online payday loans offer quick cash, their risks should never be taken lightly. 

Borrowers must tread carefully to avoid getting caught in destructive debt cycles. With open acknowledgement of mistakes, proper understanding of such loans, seeking help through negotiating better terms or other debt solutions, and disciplined execution of repayment plans, getting out from under crushing debt burdens is very much possible with time and dedication. Staying financially prudent and avoiding future reliance on payday loans for emergencies is also vital for long-term well-being.

Common FAQs about Getting Out of Online Payday Loan Debt

 What Do I Do if a Lender Starts Harassing Me?  

If a lender begins threatening calls, visits or legal notices even after negotiating repayment plans, the best solution would be filing a formal complaint with regulators like the Central Bank and Nigeria Communication Commission (NCC). This pressures lenders to respect agreed terms or face punitive actions, allowing borrowers breathing room.

What will happen if I refuse to pay my online loan?

If you refuse to pay back your online loan, there can be serious consequences:

  • Your credit score will be negatively impacted. Defaulting on loans is reported to credit bureaus, making it harder to get approved for credit cards, loans, or even jobs in the future.
  • The lending company may send your account to collections. This means a collections agency will start contacting you aggressively to try to get you to pay. They may even take legal action.
  • Your outstanding debt will continue to grow due to late fees and penalties. This makes it even harder to pay back over time.
  • The lending company may share your contact information with other lenders, leading to more harassment. Some companies even send threatening messages to your friends and family.
  • You could face legal consequences. While unlikely for small loans, defaulting on larger amounts could potentially lead to lawsuits or even criminal charges in some cases.

The best approach is to communicate with the lender if you are having trouble making payments. Many are willing to work with you on a payment plan or extension. Ignoring the debt will only make the situation worse in the long run.

Profitable Internet Businesses to Do as a NYSC Youth Corper to Earn Extra Income During NYSC

By
Seun Ogun
-
0
Profitable Internet Businesses to Do as a NYSC Youth Corper to Earn Extra Income During NYSC

As a youth corper embarking on the mandatory one-year National Youth Service Corps (NYSC) program in Nigeria, you likely want to maximize your time and earn some extra income on the side. However, with the demanding schedule of serving your fatherland, it can be difficult finding opportunities that allow flexibility. Thankfully, the rise of the internet has opened up many profitable business options you can pursue completely online as a corper – no matter where your place of primary assignment takes you in Nigeria. 

In this article, I’ll share my own experience starting internet businesses during my NYSC year, along with several promising ideas you can implement yourself to generate an additional income stream. By the end, you’ll understand how to leverage the power of the internet to turn your corper year into a lucrative period of personal and professional growth.

Harnessing Your Skills and Passions through Freelancing

One of the easiest and most flexible ways to earn money online as a corper is through freelancing websites like Fiverr, Upwork, and PeoplePerHour. These platforms allow you to offer a wide variety of services – from graphic design and web development to writing, translation, and data entry. All you need is an internet-connected device and the skills to complete the jobs. 

During my NYSC year, I found success freelancing my skills in writing and social media management. I was able to choose my own hours and workload around my service schedule. Within a few months, freelancing provided a significant supplemental income and valuable work experience. Some other top skills corpers can monetize include:

  • Programming and Tech Services
  • Tutoring and Teaching 
  • Digital Marketing and Advertising
  • Video and Graphics Design
  • Administrative and Customer Support

The best part is you can promote your services across multiple platforms to reach more potential clients. Just be sure to carefully consider your rates, build a strong portfolio, and maintain excellent client communications.

Starting an Online Store with Dropshipping

If you have an eye for trends and discovering profitable products, running an online store via dropshipping could be a great fit. With this business model, you promote and sell items on your own website but have suppliers ship the products directly to customers. This allows you to enter retail with very low upfront costs.

  • Choose a Niche
  • Set Up Your Website
  • Find Reliable Dropshipping Suppliers 
  • Market Your Store
  • Provide Excellent Customer Service

Some top niches for corper dropship stores include tech accessories, apparel, home goods, health and beauty products. Focus on items with high demand, low supply costs, and few competitors. With enough marketing, you can generate consistent sales even while serving. Just be prepared to constantly update your inventory.

Monetizing Your Skills Through Online Courses

If you have in-depth expertise in a subject like photography, design, coding, or finance, developing online courses is a superb way to share your knowledge and earn residuals from sales. Popular platforms like Udemy and Skillshare make it simple to create, host and market your lessons. 

  • Outline Your Course Content
  • Create High-Quality Video or Text Lessons
  • Add Quizzes, Assignments and Community Forums
  • Publish Your Course and Promote It
  • Provide Lifetime Access and Online Support

The best courses solve specific problems, are evergreen, and provide immense value – even if you are limited with service schedule. Market strategically through social platforms, blogs, forums and more. Over time, you can build a sustainable online academy.

Monetizing a Blog or YouTube Channel

If you have a flair for writing or creating videos, an online publication or channel can deliver residual income during and even after your NYSC year. The popularity of platforms like YouTube, Facebook, and Instagram have made it easier than ever to build huge followings and monetize content.  

  • Choose a Niche and Create High-Value Content 
  • Optimize for Search and Social Shares
  • Add Monetization Like Ads, Affiliate Marketing, Sponsored Posts
  • Engage and Build Your Audience
  • Remain Consistent with Posting Schedule

Focus on topics you’re passionate about that people search and engage with already. Slowly expand your reach, steadily optimizing for search and shares. Eventually, you’ll earn from multiple income streams to supplement your corper allowance!

Starting an Affiliate Marketing Website  

With affiliate marketing, you get paid commissions for sending sales to other companies. It’s an effective passive business model for corpers with little upfront costs. Simply build a niche site or YouTube channel to:

  • Educate Visitors About a Topic 
  • Share High-Quality Products or Services 
  • Track Links and Earn From Referrals
  • Use Social Proof to Boost Conversions
  • Stay Up-to-Date and Improve Over Time

Focus on items from reputable programs with clear buyer intent. Promote affiliate links alongside helpful, engaging content to earn while you learn. Even simple sites can yield sales by solving real problems for people.  

ePublishing and Selling Digital Products

If you’re a talented writer or creator, consider packaging your expertise into books, guides, templates, designs or other e-products. Sell creations through the major marketplaces or your own site for added profits. Some ideas include:

  • eBooks on Trending Topics
  • Creative Design Packs and Infographics 
  • Online Courses and Tutorials 
  • Templates and Worksheets
  • Stock Photos, Music or 3D Models

The global digital content industry continues growing immensely. With promotion on authority sites and forums related to your niches, you can drive consistent royalties during your corper year and beyond.  

Conclusion

As you can see, the opportunities to start profitable online businesses during NYSC service year are nearly endless. With passion, creativity and perseverance, you can leverage the power of the internet not only to supplement your income but also gain valuable skills and experience. And who knows, one of your ventures may lead to long-term success! Now get started with the ideas that most excite you. Stay focused on providing value and you’ll surely reap the rewards.

FAQs

How much do youth corpers make?

National Youth Service Corps (NYSC) members in Nigeria currently receive a monthly allowance of ₦33,000. However, many corps members have expressed dissatisfaction with this amount due to the high cost of living and inflation in the country. 

Which state pays corpers more?

The state that pays corpers more in Nigeria varies, as different states offer different allowances to National Youth Service Corps (NYSC) members. Akwa Ibom State pays the highest state allowance, with corpers in state hospitals receiving N75,000 per month, in addition to the federal allowance of N30,000. Other states with notable allowances include Lagos, which pays N15,000, and Sokoto, which pays N9,000 to corpers in state hospitals. It’s important to note that these figures may not be comprehensive or up-to-date, and allowances can change over time.

Highly Profitable Businesses to Start Online Without a College Degree in Nigeria

By
Seun Ogun
-
0
Highly Profitable Businesses to Start Online Without a College Degree in Nigeria

Welcome to Cryptofinance job. Are you looking for the best way to earn 6 figures online, it’s a dream that is very possible. 

As a student or business oriented person, working offline is no longer profitable as it used to be. 

In today’s internet age, there are endless opportunities to start a successful online business even without a college degree. The internet has leveled the playing field for entrepreneurs around the world. As long as you have motivation and skills, it’s possible to earn a comfortable living pursuing your passions from anywhere. 

In this article, we will explore several profitable online business ideas that require minimal qualifications or investments to get started in Nigeria. 

By the end, you’ll gain valuable insights into the steps, strategies and realities of running a self-sustainable online venture. Let’s get started!

Can I Really Make Money Online Without a College Degree?

When I first started my entrepreneurial journey many years ago, I too had doubts about achieving success without formal education. However, through extensive research and speaking to countless self-taught entrepreneurs, I discovered the online world rewards skills and hustle much more than degrees. 

While college can provide certain advantages traditionally, it is by no means a prerequisite today. Thousands of digital nomads from Nigeria and beyond have replaced six-figure salaries pursuing work they love. The keys are finding low-risk business models, dedicating time to learn, starting small and improving incrementally. 

It’s also important to have realistic expectations. Very few people make millions overnight. Success requires consistent efforts over weeks, months or even years before seeing large returns. But those who persevere usually get there eventually through strategies like:

  • Offering valuable, innovative solutions people are willing to pay for
  • Continuously testing, learning from failures and improving 
  • Persistently promoting their brands and building customer relationships
  • Leveraging social media presence and SEO techniques to gain visibility   
  • Partnering with complimentary businesses to scale up operations

So in summary, earning a sustainable income online is extremely feasible even for those without college degrees. It just takes the right mindset, dedication to lifelong learning and patience to see things through. Are you ready to get started? Let’s jump into some highly profitable business ideas.

Highly Profitable Businesses to Start Online Without a College Degree in Nigeria

Dropshipping

Dropshipping is a low-risk way to launch an online retail business from anywhere. The process involves acting as the middleman between suppliers (mostly manufacturers based in China) and customers by promoting products on a website or social media pages. 

When someone places an order, you forward the details to your supplier who directly ships the product to the buyer on your behalf. This allows entrepreneurs to run online stores with zero inventory overhead by simply leveraging suppliers’ stock. 

The key is finding trending products with small profit margins that suppliers can deliver fast. Resources like Oberlo, AliExpress and Dhgate help match sellers to high-quality products from reliable manufacturers. It’s also important carry products that match the interests of your target audience.

Popular niches for Nigerian dropshippers include fashion accessories, electronics, home goods, toys and beauty products. When starting out, you’ll need:

  • A domain and website (Shopify is popular) or social media page
  • Quality product images and descriptions on your site  
  • Supplier knowledge, order tracking and support processes
  • Affordable marketing budget for Facebook/Instagram ads
  • Patience to test products and continuously improve operations

With experience, focus on scaling up through sales funnels, building an email list, cross-promoting affiliate products and offering customized bundles to maximize profits over time.

2. Affiliate Marketing

As an affiliate marketer, you promote other companies’ products or services through your website, blog, YouTube videos, social media profiles or email lists. Each time a visitor completes a purchase through your personal affiliate link, you receive a commission typically 5-10% of the order value. 

Popular categories for affiliates in Nigeria include fashion, tech gadgets, software/apps, productivity tools, finance products, online courses and more. Major programs include Jumia, Clickbank, Share-A-Sale, Rakuten, CJ Affiliate and Amazon Associates.  

To get started, you’ll need

  • A professional looking website or social profiles in your niche 
  • High-quality, in-depth content promoting products 
  • SEO know-how to rank content and generate organic traffic
  • Social media promotion, email list building abilities
  • Patience, as it takes time to build an engaged audience

Focus on curating a list of best-selling, commission-paying products aligned to your niche. Continuously test new promotions to see what converts for your followers. Over time, building an engaged community can lead to multiple recurring income streams through various affiliate promotions.

3. Freelancing

Freelancing allows you to market skills like design, development, writing, translation, customer support, social media handling, online tutoring and more. Platforms like Fiverr, Upwork and PeoplePerHour connect freelancers to global work opportunities.

Starting out, offer basic gigs at competitive rates while building a portfolio. Stellar service, on-time deliveries and 5-star reviews will help you gain more visibility and better paid clients on such sites. Simultaneously, use your expertise to bid on relevant projects directly sourced through online communities and forums too. 

For instance, a UI/UX designer could provide:

  • Logo design starting from ₦5,000
  • Mobile app mockups from ₦10,000 
  • Website color schemes priced at ₦3,000

While copywriters may offer services like

  • 500-word article rates at ₦3,000
  • E-book formatting for ₦15,000
  • Legal document creation priced from ₦8,000

With experience, move from generic gigs into specialized long-term clients by showcasing your unique capabilities via projects, case-studies and testimonials on a personal website/blog. In 1-2 years, you can grow freelancing into a full-time self-employment source of income.

4. E-Commerce Stores 

Building an online store empowers you to become an entrepreneur by launching your own brand. Popular platforms like Shopify, WooCommerce and BigCommerce offer all the tools needed to start without technical expertise – from website creation and inventory management to payment processing and order fulfillment integrations.

Some profitable niches for Nigerian e-commerce include:

  • Selling private label products from Alibaba customized for your target market
  • Becoming a product review blog promoting affiliate links of relevant items  
  • Curating a marketplace of local artisans’ products or services   
  • Specializing in a passion like cooking supplies, gardening tools or sports apparel

When starting out, focus on a small selection of high-quality products ideally sourced directly from manufacturers to keep costs low. Use social media ads like Facebook/Instagram to generate sales. Monitor analytics and customer feedback to continuously refine your offering. 

Scaling up requires expanding product lines strategically, building an email list, optimizing for search, cross-promoting complimentary products, automating email nurturing campaigns and more over 6-12 months. With persistence, an online store has huge income potential long-term.

5. Online Courses & Training Programs  

Teach knowledge, skills or hobbies you’re passionate about to a global audience by creating online courses on platforms like Udemy, CourseCraft or Thinkific. Topics could include coding, graphic design, musical instruments, sports, personal development and more – anything that can interest learners enough to invest in.

The initial steps involve;

  • Planning an in-depth curriculum covering the topic from basics to advanced levels
  • Filming engaging video lessons, adding PDF guides and supplementary materials  
  • Market testing and refining the course structure based on feedback
  • Promoting launches on social media, forums and relevant blogs

Price courses affordably at first (around ₦5,000-₦15,000) while continuously improving content quality based on reviews and analytics. Over time, sell higher-priced programs, bundles or coach select students one-on-one for even bigger profits. With a following, online courses provide excellent residual income potential.

6. Content Writing & Blogging 

If writing comes naturally to you, monetize your skills through content creation. Start by offering article, blog post or web copy writing services on Fiverr, Freelancer or Upwork. 

In parallel, choose a profitable topic you enjoy like entrepreneurship, health/wellness, travel or personal finance and start a free blog on platforms like WordPress, Medium or Blogger. Consistently publish premium, well-researched content curated for your audience while building SEO-friendly links and social relationships. 

Later on, display ads and affiliate marketing can be incorporated to earn money from the traffic. Alternatively, start an authority website centered around your expertise or a solution you provide like online education content. The possibilities are endless if you dedicate time to learning technical and promotional skills to gain a following.

7. Information Products & E-books

Leverage your knowledge into profit by creating low-cost digital products. Topics could be centered around problems you’ve solved, innovativeCheck ideologies, productivity tips, how-to guides and more. 

Platforms like Gumroad, Selz and E-Junkie allow effortless sales and delivery. Consider bundling related products into one suite for a higher commission. Email marketing is key offer free resources to grow a lists, then promote paid products alongside with attractive discount bundles. 

Start by pricing courses at ₦3,000-₦10,000 then slowly increase rates as you gain reputation and fulfill orders excellently. Include bonuses like templates, follow-up emails and one-on-one support for better customer experiences. With strategic promotions, information products provide ongoing passive income.

8. Online Tutoring

If you’ve excelled in academics, tutor individuals on sites like Wyzant, TutorMe or Varsity Tutors. Subjects in demand include exam prep for IELTS, SAT, GMAT, programming languages, accounting, physics and more. 

Create a profile showcasing qualifications and student testimonials. Competitively price 30-60 minute live sessions starting ₦4,000-₦8,000 depending on your expertise. Offer flexible scheduling and prompt responses. Purchase a whiteboard app and headset for professional video calls. 

Promote on course-specific forums, WhatsApp groups and relevant blogs/newsletters. Personalized marketing sways parents to select you over competitors. With time, your thriving reputation attracts steady clients for a solid part-time income stream.

9. Podcasting & Vlogging 

Invest in quality audio/video gear to launch your personality-driven show. Popular topics cover business, self-improvement, arts, health/wellness advice based on your life experiences. 

Distribute via YouTube, iTunes, Spotify and other podcast directories. titles focus on solving problems through heartwarming stories and expert interviews. Monetization happens later via ads, sponsorship, program recommendations or paid membership sites hosting bonus materials. Brand building requires consistency, so start with a bi-weekly schedule you can maintain. 

Always improve quality over time with better mics, ambient noise filters and video editing skills. Participate in related forums and communities while curating engaging social profiles around your show’s message. With determination, your passion project could become a full-fledged virtual business.

10. App & Software Development

If coding is your thing, use platforms like Upwork, Toptal or Freelancer to bid on projects from global clients. Simultaneously build your personal app development portfolio through micro-apps and tools addressing problems within communities you’re part of. 

Specialize in valuable niches like FinTech, logistics, education, e-commerce or social impact projects. Technologies in demand include Flutter, React Native, Alexa/Google Home skills, Unity 2D/3D games and more. 

Start at affordable rates then raise prices as your experience grows. Target companies using outsourcing for incremental projects beyond core capabilities. Mobile/web apps with recurring subscriptions hold potential to become bestsellers on respective app stores later on.

11. Virtual Assistance

Leverage your administrative, research and communications skills by providing virtual support to individuals and businesses. Common services include data entry, bookkeeping, calendar management, online errands, customer service, transcription and more.  

Present yourself professionally on sites like OnlineJobs.ph, VirtualStaffFinder and WorkAtHomeCareers. Have a well-designed freelancer profile showcasing expertise. Give 15-30 day money-back guarantees to reassure clients.  

Start accepting multiple micro-tasks for $5-10 each to build a strong 5-star rating. Soon, you’ll be qualified for higher-paid part-time or full-time flexible virtual assistant positions with growing companies. Automate routine tasks using tools like Zapier to handle more clients profitably.

12. Article Writing

Journalism is a flexible remote career if you have a passion for storytelling. Offer long-form blog posts, news articles, case studies, product descriptions and more through platforms like Constant Content, TextBroker and CrowdContent. 

Well-researched 500-1000 word pieces on topics like business, technology, health, relationships fetch $15-30. Some publications pay $50-200 per thousand words for bylined work. With experience writing compelling pitches, you may get direct assignments too from magazines and newspapers worldwide. 

Authoritative journalists command high word rates at $0.10-$0.20 per word from corporate clients. Continuously hone your craft by reading diverse publications across topics to sharpen skills on a subject of your choice. Freelance writing ensures financial freedom if persistently marketed.

13. Photography & Videography 

Monetize your visual skills online through stock footage licensing, product photography gigs, events coverage and videography services including weddings, conferences and interviews. 

Popular platforms like FotoStock, 123RF, Shutterstock and Videohive allow uploading your library of high-resolution images/videos for global businesses to discover and purchase usage rights. Watermark low-resolution previews aggressively to avoid copyright theft.  

Build your personal website/social profiles showcasing a broad portfolio. Contact local businesses and influencers requiring visual content on a project or retainer basis. Word-of-mouth leads to exciting client opportunities with practice and branding yourself as a skilled visual storyteller.

14. Translation Services

If you’re fluent in multiple languages, platforms like Upwork, TranslatorsCafe and ProZ allow freelancing as an online translator or interpreter. 

Common projects involve website localization, subtitling videos, transcribing podcasts/calls, translating business documents and more. Specialize by learning industry-specific terms for legal, medical, technical or creative fields. 

Promote your native and additional languages proficiency clearly. Establish affordable hourly or per-word rates. To gain confidence, translate sample texts and have them verified by experienced translators first. Maintain professional online profiles and gain positive reviews. 

With experience, take on simultaneous interpretation gigs at webinars, conferences or large client meetings for higher pay. Niche down to your most skilled language pairs for consistent work balancing personal and professional commitments flexibly.

14. Graphic & Web Design 

Monetize creative skills through projects like logo design, website development, brochure layouts, social media graphics, banner ads, book covers and more. 

Portfolio websites on Behance or Dribbble showcase case studies of successful client work across industries and budgets. Propose fixed-cost project packages customized for individual business needs on platforms like 99designs, Fiverr or upwork. 

Stay updated on latest design trends through blogs, courses and conferences. Use trending software like Adobe CC, Figma, Canva, WordPress to complete tasks efficiently within deadlines. Maintain organized file naming and versioning habits important for collaborative projects. 

With experience, add premium services like web development, logos with extended commercial licensing and brand identity guidelines for bigger profits catering to larger multinational clients.

15. Consulting & Coaching

Share specialized knowledge accumulated over years through high-end virtual business consulting packages. Popular areas cover marketing, accounting, operations, entrepreneurship, human resources and industry-specific expertise. 

Design customized growth roadmaps for organizations after carefully analyzing their needs. Delivery involves weekly workshops, strategic advising calls and implementation support through agreed milestones.  

In parallel, take high-paying private coaching clients helping ambitious founders and professionals realize career goals through personalized mentorship programs. Leverage experience, networks and expertise accumulated over your own professional journey to genuinely impact others.

Conclusion

In conclusion, the opportunities for starting a profitable online venture in Nigeria without formal education are boundless. The key is choosing a niche aligned to your skills and passions, then dedicating consistent efforts to learn the trade from ground up. 

With the right business model, strategies, continuous self-improvement and a problem-solving mindset, generating a stable income source becomes very much achievable over months of dedicated work. I hope this guide has inspired and empowered you to take the first steps towards entrepreneurial freedom. 

Remember, all it takes is imbibing a growth mindset and getting started. Best of luck on your journey

List of Loan Apps That Call Contacts and Send Messages to Contacts

By
Seun Ogun
-
0
List of Loan Apps That Call Contacts and Send Messages to Contacts

Accessing loans through mobile apps has become increasingly popular in Nigeria due to convenience. However, some platforms have faced backlash for contacting users’ connections without permission. This article speaks of Loan Apps That Call Contacts and Send Messages to Contacts

The Rapid Growth of Mobile Lending in Nigeria

Standing at over 200 million people with high smartphone penetration, Nigeria is ripe for digital financial services. A 2019 study found 25% yearly growth in the fintech industry, with mobile lending subsiding traditional avenues. Easy access fueled this boom but comes with risks if privacy is unprotected. 

Read also: List of Fake Loan Apps in Nigeria

7 Loan Apps and Their Contact Practices

Now we examine 10 prominent loan apps in detail and how they engage contacts

1. QuickCash  

One of Nigeria’s first lending apps, QuickCash requests access to your entire address book. They may call or text any contacts for verification, debt collection or as leads for new customers. There is no limit and contacts are not informed.

2. ReadyCash

ReadyCash allows quick loans starting at ₦5,000. To register, they access phone contacts and require selecting at least 5 references to message details like your loan amount, photo, social media accounts without permission. 

3. EasyCredit

With EasyCredit, borrowers undergo a “friends check” where 10-20 contacts receive calls to corroborate provided information which can include your BVN, employer and more. Contact names and numbers are clearly visible to agents for repeated communication attempts.

4. Quickloans 

Specializing in payroll advances, Quickloans says they access contacts “to verify identity and contact friends to get fast loan approval.” They may spam references, family members, old classmates and more with persistent text messages and automated calls until response. 

5. CashBox

CashBox sends one-time passwords (OTPs) via SMS to borrower contacts for account registration without specifying this is for a loan sign up. They also contact references through calls regarding loan activity and late payments.

6. Okash

To fund an Okash account, users require uploading national ID plus giving access to phone’s entire contact database. They use an automated dialing system to call references, friends and more for unpaid debt collection 24/7 even late at night.

7. Carbon

According to reports, Carbon’s “Social Proof” function involves analyzing loan applicants’ call logs, SMSes, contacts and social networks on WhatsApp, Facebook, LinkedIn etc to gauge trustworthiness. No permission is explicitly sought for this extensive data access

How Loan Apps Request Contact Permissions

Let us understand in detail how different types of permission allow access to your connections:

  • Phone state and identity permission provides read calls, SMS inbox contents
  • Contacts list read/write enables viewing, modifying, syncing and backing up all your contacts  
  • Microphone lets recording calls without audio consent
  • Camera rolls out recording video, photos taken previously on device
  • -Notification dots on contacts’ profile pics indicates status to loan agents

So multiple broad permissions together mean wholesale contact data exposure to lending platforms.

Conclusion

To summarize, this deep article covered multiple loan apps in Nigeria known to contact references excessively for verification, collections or marketing without clear user permission. 

While financial inclusion is important, predatory practices must be curbed through regulation, platforms securing consent and education on digital risks. Borrowers deserve responsible access fulfilling needs while safeguarding privacy and relationships. Your well-being should never be leveraged for loan approvals.

FAQ 

Do loan apps send messages to contacts?

No, Loan apps can no longer access your phone contacts to send messages since June 1, 2023, due to updated Google policies. This change aims to protect users’ privacy and prevent loan apps from abusing customer data. If you downloaded loan apps before this date, they might still have your contacts stored. However, recent regulations restrict loan apps from sending messages to your contacts without access to your phone contacts.

Does OKash send messages to your contacts?

Yes, OKash has been known to send messages to borrowers’ contacts when they fall behind on loan repayments

How to Stop Loan Apps from Accessing Your Bank Account or Money in the Bank Account

By
Seun Ogun
-
0
How to Stop Loan Apps from Accessing Your Bank Account or Money in the Bank Account

Have you ever noticed strange deductions from your bank account that you did not authorize? Do you sometimes see money mysteriously moving out of your account without your consent or approval?

 If yes, then you may have fallen victim to unauthorized access by predatory loan apps. With the growth of fintech in Nigeria, several loan apps have cropped up promising quick loans with flexible repayment terms. 

However, many of these apps are not properly regulated and may exploit legal loopholes to access customers’ bank accounts without permission in order to debit repayments or penalties.

 In this very detailed article, we will explain in great depth how these unauthorized access happens through various sneaky techniques. 

We will also provide very effective step-by-step processes to stop loan apps from having the ability to access your money without consent in Nigeria. Ensuring you fully protect yourself from this issue.  

How Loan Apps Gain Unauthorized Access to Bank Accounts

There are a few sneaky methods through which these unscrupulous loan apps are able to fraudulently debit money from customers’ bank accounts without consent in Nigeria:

Obtaining Bank Verification Numbers (BVN) Fraudulently

Some loan apps trick customers into willingly providing their confidential BVN during the online loan application process under the false pretense of properly identifying and authenticating the applicant. 

They may claim verifying the BVN is mandatory part of “Know Your Customer” regulations. 

However, the real intention is to misuse the captured BVN, which is the single-identifier linking an individual to all their bank accounts. 

With possession of the BVN, these rogue apps are then able to use special tools to secretly link the applicant’s bank account, and by extension facilitate future unauthorized debits, without seeking the customer’s authorization solely for the purpose of illegal deductions.

Accessing Linked Third-Party Accounts 

Several fraudulent loan apps additionally insist that applicants must connect additional banking accounts, online wallets or virtual cards from other financial institutions during account registration on their platform. They provide the deceptive explanation that these extra third-party funding accounts are urgently required for the purpose of loan disbursement into upon approval. 

Unwitting users therefore end up freely offering these loan apps access to other financial links. Nevertheless, the real reason for coercing users into enabling these linkages turns out to be to illicitly leverage the added accounts behind the scenes to later debit repayment amounts without the customer’s awareness or permission.

Bypassing Two-Factor Authentication

Through exploiting technical vulnerabilities existing on users’ devices or in collusion with accomplices working inside the banks, some unscrupulous loan apps have devised means to surreptitiously circumvent the industry-standard two-factor authentication process, which normally requires input of OTP or biometric before fully registering new bank accounts. 

By discreetly sidestepping this additional security layer during the registration phase, these fraudulent platforms are conveniently able to directly interface with and perform unofficial transactions on the customers’ linked bank accounts without the knowledge or go-ahead of the account holder. This grants them carte blanche to debit any sums at their whims.

How to Stop Loan Apps from Accessing Your Bank Account or Money in the Bank Account

Now that we have an in-depth understanding of the intricate techniques employed by these bad actors to perpetrate unauthorized access, here are some effective step-by-step processes to prevent loan apps from fraudulently deducting money from your bank account without consent:

Remove All Linked Accounts

The very first crucial step is for the user to promptly log in to their bank account profile and meticulously inspect all third-party organizational links that may have been established. This involves verifying every single entry under the “linked accounts” section to identify any suspicious authorizations to loan apps. Once spotted, the user must immediately take the drastic action of permanently deleting such linkages to completely sever the access route exploited by these fraudulent platforms to facilitate unlawful debits. 

Deregister from Suspicious Loan Apps

The customer then needs to log in to the interface of any loan app accounts where they may have registered in the past. Here, they must specifically send a clear written request to be completely deregistered and have their registration details including captured BVN, contacts, device identifiers and other personal information permanently erased from the platform’s customer database.

 It is imperative to obtain a response email from these apps confirming the requested deregistration and data wipe have been thoroughfully executed. This eliminates the ability to misuse captured customer data going forward.  

Freeze Your BVN

The next major step is for the customer to directly contact their bank branch either in-person or through authenticated telephone lines to notify the bank of the current situation and formally request the emergency freezing of their BVN. Bank compliance officers would then initiate requisite processes at the backend to tag the presented BVN as “frozen”, which makes it impossible for any third-party financial service including predatory loan apps to attempt linking that BVN to any other accounts without the account owner’s explicit permission. This provides additional firewall against potential BVN misuse.

Monitor Bank Statements Diligently

Even with the above prevention measures, customers must remain vigilant and manually verify their bank transaction logs and statements with high frequency and focus for any unfamiliar debits. 

The dates covered in each review must include adequate historical periods in case of any past unauthorized deductions. Detection of any unrecognized debits means prompt escalation to both the bank and regulators through officially logged complaints for investigation and necessary refund processes.  

Change Online Banking Access Credentials  

It is also prudent as a last layer of safety to change all online banking access credentials like login passwords, PIN, token secrets and security questions/answers that could potentially be exploited by any hacking of linked systems. Customers must refresh access to internet banking, mobile apps as well as any email or phone number flags registered with their bank accounts. This helps boost defense against any ongoing attempts to breach account security.

File an Official Complaint

A final recourse is to comprehensively lodge formal complaints against the erring loan platforms through grievance redress mechanisms of regulators like CBN, NCC, FCCPC and even law enforcement bodies when needed, to instigate thorough investigations and deterrence against future recurrences. Documentary evidence of customer experience, loss details, platform interaction histories would aid the examination and pursuit of necessary restitutions.

Conclusion

By conscienciously following these elaborated steps, customers can decisively prevent unauthorized access to their bank accounts and shield their hard-earned funds from unlawful plundering by any nefarious loan app. However, to fundamentally avoid such undesirable situations, it is always advisable not to freely divulge personal identification or financial data to unknown entities before ascertaining their legitimacy and bonafides. With an ecosystem of vigilant citizens supported by more proactive monitoring and sanctions on malpractices by regulators, the activities of criminal loan platforms can be sustainably curtailed over time.

FAQ

How do I stop my loan app from deducting money from my account?

Below are the steps you can take to stop a loan app from making unauthorized deductions from your bank account

  • Contact the loan app directly and revoke your authorization for them to debit your account. Follow up with a written letter or email.
  • Call your bank or credit union and inform them that you have revoked authorization for the loan app to debit your account. Your bank may have a form for this.
  • Consider placing a stop payment order with your bank to block the loan app from making further withdrawals. There may be a fee for this.
  • Monitor your account closely and immediately report any unauthorized withdrawals to your bank. You have the right to dispute and get refunded for any debits made after you revoked authorization.
  • If the loan app continues harassing you or your contacts, you can file a complaint with the Consumer Financial Protection Bureau or your state attorney general.

Keep in mind that revoking the automatic payments does not cancel your loan contract. You still owe the balance and will need to make payments through other means

How do I delete my details from the loan app?

To delete your personal details from a loan app, you can take the following steps:

  • Contact the loan app’s customer support and request the permanent deletion of your account and all associated personal data. Provide your full name and registered information (email, phone number) in the request.
  • If contacting support is difficult, submit a formal written request to delete your account and data. Include your name, registered details, and a clear statement requesting permanent deletion. Send this via email or registered mail to the app’s contact address.
  • Check if the app’s privacy policy outlines a data deletion procedure under the Philippines Data Privacy Act (DPA). You may need to follow the DPA guidelines to request data removal.
  • As a last resort, you can try clearing the app’s cache and storage data on your device to remove your information from the app’s local database.

How to upgrade your Moniepoint account easily

By
Seun Ogun
-
0
How to upgrade your Moniepoint account easily

Are you looking to access more features and increase transaction limits on your MoniePoint account? Upgrading is a simple way to get more value from your digital wallet and take your transactions to the next level. This in-depth guide will walk you through the upgrade process step-by-step so you can start enjoying the benefits right away.

What is MoniePoint? 

MoniePoint is one of the leading fintech companies in Nigeria providing digital payment solutions. Launched in 2012, it has grown to become a household name for sending and receiving funds quickly via its user-friendly app or web platform. 

MoniePoint allows users to carry out transactions online and in-store using their mobile money. You can pay bills, buy airtime, transfer to bank accounts, and make purchases at affiliated merchants. It’s revolutionizing financial services in Nigeria with its fast, low-cost transactions.

Read Also: how to block Moniepoint account when phone is stolen

Why Upgrade Your Account?

While a standard MoniePoint account covers basic needs, there are substantial advantages to upgrading:

  • Access More Features

An upgraded account unlocks premium functionality like international transfers, invoice payments, and transaction history reports. These advanced tools give you more flexibility and control over your money. 

  • Increase Transaction Limits

The daily and monthly caps on standard accounts are quite low, meaning you may hit those limits frequently if transferring larger amounts. Upgraded tiers boost those ceilings so big transfers aren’t an issue. 

  • International Transfers

Do you often receive or send funds from abroad? Standard accounts only support local transfers while gold and platinum upgrades open up the ability to transact globally. This makes upgrading very worthwhile for recipients of foreign remittances.

  • Invoice Payment Options

An upgraded feature lets you pay invoices issued by businesses, schools, landlords, and more directly from your MoniePoint balance. No more waiting in long lines – just upload invoices and pay with a click.

  • Interest On Balance

Holding a minimum balance in some upgraded plans earns you interest at a competitive rate. It encourages saving directly in your digital wallet.

How Much Does an Upgrade Cost?

There are currently two upgrade tiers available:

Gold Account 

Costs ₦5,000 initially to upgrade from a basic account. The annual renewal is ₦2,000 to maintain this mid-level plan.

Platinum Account

A premium platinum upgrade is ₦10,000 upfront with a ₦5,000 annual renewal to keep the plan active. 

Both the gold and platinum options unlock higher spending ceilings and additional features compared to a standard account. For most users, the gold plan offers the best balance of extra functionality versus cost.

The Step-by-Step Upgrade Process

Ready to upgrade? Here are the simple steps

 1. Log Into Your Account

Go to www.moniepoint.com and sign in with your existing phone number and password.

2. Select “Upgrade Account”  

Look for this option under the “Account Settings” section of the main dashboard. 

3. Choose Upgrade Plan

Review the gold and platinum plan details displayed then select your plan of choice. 

 4. Enter Payment Information

You can pay via bank transfer, card, or cash at an accredited agent location nearby. Input your preferred payment details.

5. Complete Payment 

Submit your payment and the system will process it securely. This typically takes 1-2 minutes to complete.

6. Confirmation Screen

Once paid, you’ll be redirected to a confirmation page showing your new upgraded account status.

Within 1 business day, log back in to start taking advantage of your premium MoniePoint features!

Your account is now upgraded. The entire process takes less than 10 minutes total.

Frequently Asked Questions

What is the level 2 limit at Moniepoint?

The Level 2 limit at Moniepoint for a business account includes a single credit limit of N5,000,000 and a single debit limit of N900,000. Additionally, the daily credit limit is N5,000,000, while the daily debit limit is also N900,000

Can students upgrade too?

Yes, any Nigerian over 18 years old can upgrade their MoniePoint account regardless of occupation as long as they pass the verification process.

Conclusion

Thanks for reading to the very ends. 

With the benefits of higher limits, more tools, and extra convenience, upgrading your MoniePoint account is an easy way to take your transactions further. Whether you’re a frequent user or looking to upgrade select features, MoniePoint has a plan for every budget and need. Take advantage of the quick upgrade process today to maximize what you can do with your digital wallet.

How to upgrade Kuda bank account easily

By
Seun Ogun
-
0
How to upgrade Kuda bank account easily

Do you want to upgrade your Kuda bank account, today? Or you have been searching for the best way to do that but you have not been able to do that. If so, this article is for you. 

Upgrading your Kuda bank account is a simple process that allows you to access more features and benefits. In this comprehensive guide, we’ll walk through the entire process step-by-step so you can upgrade with ease.

What is Kuda Bank?

Kuda Bank is a digital-only bank in Nigeria that offers banking services using its mobile app. It was launched in 2019 to provide an alternative to traditional brick-and-mortar banks. With Kuda, you can open an account, make payments, save money in plans, and more all from your phone. 

Read also: How to Open a Kuda Bank Account Without BVN

Types of Kuda Account 

Kuda offers three main account types:

Basic Account 

The basic account is free to open and comes with basic features like deposits, transfers, and bill payments. However, you have lower transaction and withdrawal limits.

Premium Account

The premium account costs ₦500 per month but provides higher transaction and withdrawal limits. You also get exclusive discounts and deals.

Business Account 

If you own a business, the business account allows you to make team payments, accept invoices, and get business analytics. It costs ₦5,000 per month.

Why Should You Upgrade Your Account?

There are a few key reasons why upgrading your basic Kuda account makes sense:

Higher Transaction Limits

The premium account has significantly higher monthly transfer, deposit, and withdrawal limits compared to basic. This is great if you transact large amounts regularly.

Exclusive Deals and Discounts  

Premium users get access to deals from Kuda partners. You can enjoy discounts when paying bills or shopping online through the app.

Improved Security Features

Premium accounts have extra security layers like location tracking for withdrawals and live card freezing if lost or stolen. This gives you better fraud protection. 

Join the Elite Club

As a premium customer, you’ll get priority customer support and possibly get invited to exclusive events. Upgrading shows your commitment to Kuda.

How to Upgrade Your Kuda Account

Now that you understand the benefits, here are the steps to upgrade your basic Kuda account:

  • Open the Kuda mobile app and log into your existing basic account.
  • Go to the side menu and select the “Upgrade Account” option. 
  • On the upgrade screen, select either the monthly ₦500 Premium plan or the ₦5,000 Business plan based on your needs.
  • You’ll be prompted to input your debit card or account details to pay for the first month’s subscription.
  • Kuda may ask for identity verification like your ID, selfie, or additional documents. Complete this to finalize the upgrade. 
  • Once payment is successful, your account will be upgraded. You can now enjoy the features of your new premium or business account tier.
  • Your subscription will auto-renew each month on the same payment details. You can cancel anytime from your account settings.

Read also: Kuda Bank Customer Care: Phone Number, Whatsapp Number, Email Address and Kuda Bank Contact Address

Frequently Asked Questions

How do I remove restrictions from my Kuda account?

To remove restrictions from your Kuda account, you can try the following steps:

  • Contact Kuda’s customer support and explain your situation. Provide any requested information or documents to verify your identity and account details.
  • If Kuda asks for proof of address, send them a utility bill, bank statement, or government-issued ID that shows your current address.
  • Reset your transaction PIN if prompted. This may help remove the restriction.
  • Be patient and persistent in following up with Kuda’s support team until the issue is resolved. Restrictions are often placed to protect accounts, so Kuda may need time to verify your identity.
  • As a last resort, you can consider filing a complaint with the Central Bank of Nigeria (CBN) if Kuda does not respond or resolve the issue in a timely manner.

The key is to cooperate with Kuda’s requests for information, reset any PINs they ask you to, and persistently follow up with their support team. With some patience and by providing the necessary verification, Kuda should be able to remove the restriction on your account.

Can I have two Kuda accounts?

Yes, you can have two Kuda accounts. Kuda allows users to have multiple accounts, including both business and retail accounts. However, it’s important to note that a Bank Verification Number (BVN) can only be linked to one account. If you wish to open two different business accounts with the same retail information, Kuda permits this as well.

Conclusion

Upgrading your Kuda bank account is a smart way to access more value from the platform. With higher limits, security features, deals and discounts, a premium subscription is worth it for active users. Take a moment to review your transaction history and determine if upgrading makes financial sense for your needs. Then follow the simple steps outlined to update your Kuda account level today!

1...456...49Page 5 of 49
© Newsmag WordPress Theme by TagDiv