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EXPLAINER: Dangers of Revealing ACCOUNT DETAILS to Secure Loans Online

EXPLAINER: Dangers of Revealing ACCOUNT DETAILS to Secure Loans Online


An Ilorin-based legal practitioner, Kayode Jimoh, has advised members of the public to refrain from disclosing their bank account details to secure loans online.

Jimoh told the News Agency of Nigeria (NAN) in Ilorin that giving out bank account details to borrow money online is dangerous.

He said many Nigerians have out of desperation been defrauded due to their ignorance in submitting their sensitive bank account information to get loans.

“We need to be very careful how we give out the details required while trying to borrow money online.

“Most people lose their senses and give out some vital personal information just to get loans, and this is very dangerous.

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“Most people have been defrauded in this situation. The moment you give out your details, you are at the risk of surrendering your life and anything regarding your financial status.

“So, stop trusting every online financial apps. It’s dangerous. Some will even ask you for your BVN and you will carelessly disclose and submit it,” Jimoh said.

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The legal practitioner warned members of the public on the need to beware of fraudsters and visit their banks to ask questions before taking any online loan.


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Segun Akinlabi

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