Oluwasheunfunmi Ayejuyo Modupe, an Ibadan-based businesswoman, has accused Ebe Osi Nigerian Ltd. of refusing to release a non-interest loan granted by NIRSAL Microfinance Bank in November 2021.

Modupe told FIJ that he applied for the N500,000 non-interest loan last year in August.

“The loan was approved in November and the approval message indicated that a cash would not be given to us. NIRSAL said the money would be credited to one agent, Ebe Osi Nigerian Ltd., who would get the product in agreement with the granted loan and send it to us,” she said.

Modupe told FIJ that one Ebe Osi agent called on November 7, informing her that the money would be sent to her to buy the product that she needed for her business.

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“They said the reason they would give us the money was that their office is situated in Lagos and it would cost more to transport all the products to Ibadan, where my business is situated,” said Modupe.

The Ibadan-based businesswoman said he received an invoice and agreement form from Ebe Osi Nigerian Ltd. in November 6.

“They asked us to fill and sign it in order to receive the money. They also said we should attach it with National ID Card and BVN print out,” she said.

Modupe told FIJ she submitted the form on November 9 via an email as requested, and six months after, the money has not been sent.

“Anytime I called them, they told me not to disturb them, that they were working on it. They told me that they had over 4000 applicants that they had not responded to, and that I should calm down. Last April, after six months, NIRSAL sent us a message to come repay the loan we took from them.”

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Modupe said he responded that he had not received any loan.

FIJ reached out to Ebe Osi Nigeria Ltd., and a worker at the company, who introduced himself as Christopher, confirmed that Modupe had not received the NIRSAL loan.

Christopher said disbursement is still ongoing. “We are disbursing the loan in hierarchical order and, if Modupe has not received it, it is because it is not her turn yet. We will contact them in due time to disburse it to her,” he said.

When FIJ asked Christopher to give a specific date when Modupe would receive the approved loan, Christopher said he didn’t know if it would take a month or more for Modupe to receive her products, but she would surely get them.

Christopher declined to comment further on the reason for the delay. He only said the loan would be disbursed in “hierarchical order”.

Modupe told FIJ that despite the delay, she had been receiving messages from NIRSAL Microfinance Bank, asking that the loan be repaid.