Cost-of-living crisis fuels debt trap as digital loan rates near 50%/month
14 hrs agoFarouk Dalhatu, a tomatoes seller attends to buyer in a community market of Agodo in Lagos, Nigeria March 6, 2024. REUTERS/Seun Sanni
• Low-risk OPay borrowers pay 19% interest on monthly loans • Lender accounted for 57.4% of Nigeria’s $1.6 billion digital loans in 2025 • Approved digital lending apps near 500…































