General, Investment & Loans

Man Loses Properties Over Wife’s N4,000 Micro Finance Bank Debt


The incident which happened at 3, Adeyeye street, Megida area of Ayobo Ipaja, the outskirts of , may sound very funny but  It was a terrible experience for Segun Adeyemi after he discovered that his belongings were carted away by a over a N4,000 debt owed by his wife.

According to the report by P.M.NEWS, among the items the bank carted away include their matrimonial bed, plasma television, refrigerator, generator, cooking utensils, cash and other valuables kept in the house.

According to Segun, his wife Remilekun Adeyemi, who is a petty trader, went to the management of Bisi Cash whose office is located at Onifade Road Junction in Ayetoro, Ogun State and borrowed N40,000 to start a business.

He said before she was given the , the management first deducted their own interest from the and gave her the balance.

Remilekun entered into an agreement to be remitting some amount of the money every week untill she finished paying back the entire .

It was gathered that once a loan defaults, all such person’s property will be consficated, which is the fate Remilekun has suffered along with her husband.

According to her, she had been dutifully paying the money until it remained N4,300 balance last week.

She said she was unable to pay last week after their son fell sick and was rushed to a hospital.
While she was on her way to the hospital, the management of the bank invaded their home and carted away all their household items.

When Segun went to the management to know why they did so, they told him that his wife breached the agreement.

They told him that he was also liable because he knew about the loan and stood as surety for his wife.
When he offered to pay the money in order to take back his belongings, they refused and claimed that the property now belonged to them.

At the office of the Micro finance Bank on Thursday, the staff confirmed the incident and said it was part of the agreement the woman entered with them.

Investigation revealed that it was not only Segun and his wife that have found themselves in such predicament. Many other women whose belongings were seized were seen in the bank premises bemoaning their plight.





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