Nigerians Turn to Loan Sharks Amid Economic Woes, Risking Mental Health Crisis

Millions of Nigerians are turning to loan sharks due to economic challenges, plunging them into depression over mounting debt. This shift towards predatory lending is exacerbating the country's financial struggles.

Millions of Nigerians are falling prey to loan sharks, who are taking advantage of the country's economic struggles to plunge individuals into a cycle of debt and depression. Many small business owners and those struggling financially are turning to these illicit lenders for help, often with devastating consequences. The use of loan sharks has become a growing trend in Nigeria, as people seek quick fixes to their financial woes despite the risks. Those trapped in this cycle of debt are facing severe mental health issues, including depression, due to the pressure and stress of struggling to repay loans.