Contrary to the allegation in a trending video on social media and reported in some newspapers, the woman in Ogun State who reportedly took her life over her inability to pay back a loan was not a customer of LAPO Microfinance Bank Limited (LAPO MFB).
LAPO Ag. Head, Communications and Branding, Abel Ovenseri, in a statement on Wednesday, stated that “from our preliminary findings, which we are confident will be confirmed by an official independent investigation, she was a customer of a different financial institution, which the unsuspecting public misinterpreted as ‘LAPO’.
“While extending our condolences to the deceased woman’s family on the tragic incident, we condemn this current effort to tarnish the record and corporate reputation of LAPO Microfinance Bank Limited through unverified and malicious allegations.
“In recent years, there has been an increase in similar false allegations against LAPO MFB by persons who are pursuing an agenda.
“Notably, one of the false stories was peddled by the same individual in the latest video making the rounds. LAPO MFB is exploring legal options against such purveyors of fake news, demarketing and other unethical practices.
“We are confident that this smear campaign will fail like the previous ones because LAPO MfB’s track record of professionalism and the impact of our work at individual, business and community levels across the country over many decades is solid and well-known.
“Our customer base of over six million, our status as one of the nation’s top five employers and our track record of transformative initiatives speak for us.
“It is important to note that while we encourage beneficiaries of LAPO MfB loans to comply with the terms of their agreement with us by making prompt payments to ensure that others benefit, we pay attention to customers facing legitimate financial difficulties.
“Even at the clients’ level, our renowned group lending methodology for micro clients provides a rallying point for group members to cater for themselves, instilling a supportive disposition of “one for all and all for one.”
“We urge the media and the public to disregard these false reports. For information and clarifications on news reports on LAPO MfB, our services and other useful information, please email [email protected] or call 08139040230”, the statement added.
