A middle-aged woman, known as Mama Dada, in Ogun State has reportedly incinerated herself over her inability to pay a N70,000 debt, which she took from microfinance bank popularly known as LAPO.
According to reports, the deceased were burned beyond recognition when the entire building in Abeokuta’s Oke-Keesi, Itoko region was razed.
LAPO is well-known for lending money to traders and other small-business owners with specialized repayment schedules.
According to an eyewitness, Bolanle Ajayi, a resident in the neighbourhood, the woman committed suicide because she was unable to repay a debt she obtained from LAPO.
She said, “I was told that she obtained the loan running into N70,000.”
A former member of the LAPO organization, who identified herself just as Mrs Adeogun, stated that anyone who fails to repay the bank loan on time will face “unprecedented disgrace.”
“One must be a member and a committed one before you will be given a reasonable amount of money.
“What they do is that you will join the group and start making thrift with them, it is the evidence of this thrift through your card that will qualify you for a loan which you must either pay back outrightly or in batches.
“But either in batches or outrightly, there is always a set date for repayment that you must meet but if you default…you will live to blame yourself.”
Secretary of the Community Development Association, Ade Babawale, in the region, acknowledged that the deceased owed the bank.
He said, “she is owing the ‘Gbomu le lantern’ the sum of N70,000, because she was unable to meet up with the payment she then sent her last born to buy fuel and also use style to discharge the small boy and she locks herself up inside the room and wet everywhere with petrol including herself and set the whole place on fire.”
It was also gathered that the deceased’s body has been taken to the state General Hospital in Ijaye, Abeokuta.
