Etisalat has been in the news for the wrong reasons(unpaid loans) in the past weeks and their users nationwide have been looking for an alternative network to port to in order to retain their numbers. This is because the network provider was unable to repay loans they got from various banks, which in turn led to their decision to put an end to the company’s stay in Nigeria. A new governing body took over and the network provider was given a new identity; the name 9mobile was chosen as a replacement for the previous moniker.
Just when Etisalat subscribers thought they were in for the worst ride, things took a new turn as 9mobile rolled out a feature that’ll allow new and existing 9mobile customers borrow money and return at a later date. The program is called “Kwikcash” and with it you can borrow as low as #500 and as high as #100,000 directly into your bank account within the blink of an eye. All you have to do is dial *561#. I am not the type that believes in freebies from our network providers, so, I was prompted to try the feature to see if it’s all hype.
I searched for my old etisalat sim, inserted it in my mobile phone and dialed the USSD code to borrow the money almost immediately. I was taken through a simple interface where I provided little details about myself. Once the request was sent, I got an alert from my bank almost immediately. Here’s the catch, on every amount you borrow, there’s a 15% interest rate plus service charge of about twenty naira.
I personally think this is a welcomed development as it’s the first of it’s kind and as of the time of typing this, getting a loan is unbelievably swift when compared to other loan companies like Paylater and Fairmoney.
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