Investigation Launched into Hive Loan App and InstaLoan Amidst Fraud Allegations

In response to an increasing number of complaints, Nigerian authorities, including the police, are set to investigate Hive Loan App and InstaLoan for their alleged involvement in fraudulent activities.

Numerous reports indicate that these companies, masquerading as loan providers, have been exploiting vulnerable Nigerians, pushing some victims to the brink of suicide.

The companies are accused of not only scamming individuals who sought small loans but also engaging in severe breaches of privacy. According to complainants, the Hive Loan App has purportedly hacked BVNs and private information, using the stolen data to perpetrate scams, defame victims, and extort money. Victims have reported threats and intimidation tactics, including the use of personal information to tarnish reputations.

In a disturbing development, a staff member identified as Ben (contact number: 0912 118 2104) from the Hive Loan App reportedly sent a threatening message, heightening concerns about the safety and well-being of those involved.

A warning issued by Ben, a staff member of the Hive Loan App, has sent shockwaves through the community. The message threatens dire consequences, including the circulation of RIP pictures to family and contacts if payment demands are not met. The message suggests a menacing pattern of behavior that extends beyond financial matters.

This alarming situation has prompted calls for immediate action from Nigerian law enforcement agencies, the Department of State Services (DSS), the Economic and Financial Crimes Commission (EFCC), as well as human rights organizations. 

Concerns about potential assassinations, identity theft, and the malicious use of personal information underscore the urgency of addressing these issues.

As investigations unfold, stakeholders are urging the Nigerian government to intervene swiftly, recognizing the gravity of the situation and the potential harm posed to citizens. 

The need to protect individuals from scams, uphold privacy rights, and ensure the well-being of Nigerians is paramount in addressing this disturbing trend.