I borrowed 1.2M from OPay to change my phone and get some wigs in 100 level and I deleted the app when the interest was piling up too much and they kept disturbing me to pay back, I installed the app back now and y'all won't believe how much my loan has become

@whotpodcast

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Promoted product

Pouchers

Pouchers is a multicurrency wallet powered by stablecoins. Send, receive, convert, and spend money globally. Built for global Africans.

10 videos

Why it worked

The video uses a relatable and cautionary tale about excessive borrowing from a fintech app, which resonates with viewers who may have similar experiences or concerns. The clear warning and subsequent promotion of a responsible alternative (Pouchers) create a strong call to action.

Summary

The video discusses the dangers of borrowing money from fintech apps without proper consideration, using a personal anecdote of someone who borrowed a large sum and ended up in significant debt. It highlights the negative impact on credit scores and the potential long-term financial consequences.

Structure

1Sharing a story of borrowing a large sum from OPay and accumulating debt.
2Discussing the decision-making process and the consequences of borrowing.
3Explaining the impact on credit scores and future financial opportunities.

Original caption

If you want to change your life, then watch this episode dropping this week, because we had the opportunity of having Ayo Adewuyi, the CEO of @Pouchers on the podcast and he dropped information that will change your life and your perspective about Money. 7pm Today on YouTube, Spotify, Apple Podcast etc, See you soon #WhotPodcast #whotpodcastseason5 #nigerianpodcast #realconversations

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Transcript

I borrowed 1.2 million Naira from OPay to change my phone and get some wigs in 100 level. And I deleted the app when the interest was piling up too much and they kept disturbing me to pay back. I installed the app back now and y'all won't believe how much my loan has become. How much? 9.6 million. That's been due since November 2023. How did OPay even agree to give you 1.2 million to buy a wig? Like, level, how dense are you as an individual to make that kind of decision? What were you doing with 1.2 million? How did you even sit down to calculate? This is what I want to buy. This is what I want to buy. Okay, I'll go to Opay. I'll borrow this money. You went through the entire thought process and made... Like, you had the intelligence to do that and you are where you are owing and you are laughing. She did- even, did not. She did not think of how to pay you back. I promise you she did not think of how to pay you back. That thing. The point was to get the money. Yeah. I get crazy. These are the kind of people that FCPC should exception the rule. Bam. Are to actually borrowing these fintech returning? Yes. A lot of downsides. A lot of them. One you have, scoring. Credit score. It affects it a lot. Is that really functional in Nigeria? It is. It is functional. Yes. I don't mention names, but the companies that build the infrastructure. Yeah. For credit scoring. And what happens is that whenever those are they'll check. We should just not do things that will affect our future. That's the truth about it. You don't know when you need it. You don't know when the government will say, it's time for mortgage, and now the appeal of housing is there, and all of a sudden it you cannot get it because of a mistake made in 100 level. God forbid. Like, the kill is... You guys, please do not borrow money from any app without paying it back. It is very bad. And one ways that we that is by making sure that we are to these little nuances. So you pay attention to the nuance. So you know it becomes a nuisance. Word. Clock it. This camera.