Concerns are mounting across Nigeria as more citizens report continued deductions linked to COVID-19 intervention loans first disbursed in 2020, despite claims that some beneficiaries have already completed repayment or were unaware of the loan terms.
Fresh firsthand accounts circulating online describe unexpected debit alerts and confusion over outstanding balances, with some individuals alleging deductions are still being made six years after the funds were received.
One affected person, sharing a family member’s experience, wrote:
> “A family member abroad just got debited ₦275,000 for a loan that was around ₦180,000. He felt like going back to Nigeria to fight them yesterday.”
Another borrower questioned the continued deductions despite repayment:
> “After clearing the Covid-19 loan I was still debited by GSI why?”
Several individuals also claim they were not fully aware of the conditions attached to the funds at the time of disbursement, suggesting the loans were initially perceived as government support or palliatives rather than structured credit facilities.
> “We thought it was government support…”
In more troubling allegations, some users say their banking details were allegedly used without proper consent. One account stated:
> “Someone used my BVN to collect the loan. Now my account is being debited.”
Another case circulating online involves a football coach allegedly obtaining a loan using a player’s Bank Verification Number (BVN), resulting in the player’s account being debited years later.
The complaints also highlight concerns over the use of the Global Standing Instruction (GSI) framework, which allows banks to recover outstanding debts across accounts linked to a borrower’s BVN.
Across the various testimonies, affected individuals describe sudden deductions, limited prior notification, disputed balances, and confusion over accrued interest. The situation has sparked renewed public debate over transparency, consent, and loan recovery processes tied to COVID-19 financial intervention schemes.
As Nigeria continues to roll out new credit and intervention programs aimed at supporting citizens and small businesses, the emerging complaints have intensified calls for clearer communication, stronger safeguards on BVN usage, and improved accountability mechanisms to prevent similar disputes in future lending schemes.
