Information is Power

Agatha’s businesses all suffered at the same time. It was like someone had just cursed her. The rats ate her clothes in the boutique, the restaurant caught fire and somehow even her coffee business started losing customers. While she was wondering if she should shut down and first go back to the village, Aisha, her friend told her about a bank with ‘business resurrection loans’. So, she got the 100 million resurrection loan with an interest of 40% to be repaid in 8 months. Her businesses started running again until the tax man came for the ‘forgotten’ taxes and the businesses crashed. Last month the bank came to collect, and they told her the business land and her home that she left as security will be sold this month. Agatha is confused and doesn't know what to do.  WHAT DOES THE LAW SAY?    The law says that a licensed money lender like a bank can lend out money and take things you own as ‘security’ for the loan. The terms are usually that you have given your property

Story by Osuta Yusuf. Maracha District. 📸PDM Logo, Courtesy Photo.