MIGO, a money-lending company, has waived the interest of ₦57,800 placed on a loan of ₦115,400 obtained by a thief who stole Ijegede Isaiah Oluwaseun’s Motorola Stylus G5 phone in Oshodi, Lagos State, on November 7, 2022.

In an email sent to Oluwaseun by Henry Ibok, the company’s customer experience representative, on December 11, the company stated that it had waived the loan interest.

The company also sent another email to Oluwaseun on December 14, communicating its acceptance of his proposal for a two-month period to properly investigate the incident before deciding to repay the loan at the rate of ₦10,000 monthly.

READ ALSO: MIGO Wants UBA Customer to Repay ₦173,200 Loan Taken by a Thief

Oluwaseun had requested the company to allow him an opportunity to service the loan on a monthly basis at the rate of ₦10,000.

“Your proposal is accepted. So you can pay ₦10,000 monthly until you clear the loan,” the company said.

The health practitioner said, “I am a salary earner and this development is going to have a telling impact on my pay each month, as I would be repaying the loan from it.

“That I am to repay a loan I didn’t obtain is really painful to me.”

Ibok had told FIJ on December 30, 2022, that the only help the company could render to Oluwaseun in his present situation was to waive the interest.

Im”We got notice of FIJ’s story, and after looking at the circumstance of the matter, we have forgone the interest on the loan and accepted Oluwaseun’s proposal to repay the principal sum of N115,400 piecemeal,” Ibok explained over the phone.

READ ALSO: After FIJ’s Story, Jumia Refunds Customer’s N114,000 Held for 4 Months

“At MIGO, we don’t approve a loan request unless the information on the applicant’s phone number tallies with the account information supplied. And that was not different in the present case; we checked the correctness of the banking information and personal details attached to the phone number used to request for the loan before giving it out.”

FIJ had reported on December 10 how a thief who stole Oluwaseun’s phone in Oshodi used his personal banking information to apply for a loan from MIGO.

Upon the approval of application by the instant loan company, the loan was credited into Oluwaseun’s UBA account from where the stealer immediately transferred it to Palmpay and OPay accounts.