Prince_olaitan01

Jess kind,friendly,gently u wanna knw more push the follow button.....

[BSAT Properties @BSAT_Properties]

CAN A GUARANTOR BE ARRESTED BECAUSE THE BORROWER DEFAULTED IN REPAYING A LOAN?

NO.

Many people panic when someone they guaranteed fails to repay a loan. Some even receive threats like,
"If he does not repay the loan, we will arrest you." "If he absconds, we will arrest you".

That is intimidation. Not law.

A loan transaction is a CIVIL matter.

When you stand as a guarantor, you are promising to repay the debt if the borrower defaults. Your obligation is financial, not criminal.

If the borrower fails to pay, the proper remedy is for the lender to sue for recovery of the debt and not to use the instrumentality of the police to recover the loan.

It is not a crime to owe money.

Under Nigerian law, the court have held in a plethora of cases that the police are not debt recovery agents. Arrest cannot be used as a tool to enforce repayment of a civil debt.

Section 7 of the Administration of Criminal Justice Act (ACJA) 2015 expressly prohibits arrest in lieu. A guarantor cannot be arrested simply because the borrower defaulted.

However, where there's evidence of fraud, obtaining money by false pretence, or conspiracy, that becomes a criminal matter and the police can effect arrest on the parties involved. In that situation, arrest is based on the alleged crime, not merely on default to repay a loan.

Mere inability or failure to repay a loan does not justify arrest.

HOW CAN THE CREDITOR RECOVER HIS MONEY:

🥢The creditor can sue both the borrower and the guarantor.

🥢The court can order repayment of the loan.

🥢The guarantor may be made to pay if the borrower fails.

That is civil liability and not criminal liability.

Arresting a guarantor over a simple loan default is unlawful.

Know your rights.

Not every threat is backed by law.

Stay informed.
Stay protected.
Stay Legally Wise.

IGNORANTIA JURIS NON EXCUSAT.

© Naomi Umeje Esq.

[Prince_olaitan01 @AdeyipoEmma]

@IBEDC_NG Ibadan electricity do better last week i went to ilorin for like 3-days no light I was so frustrated

[Prince_olaitan01 @AdeyipoEmma]

@Sterling_Bankng Pls am interested how can I purchase

[Prince_olaitan01 @AdeyipoEmma]

@NigeriaStories So Sad 😭😭😭

[Prince_olaitan01 @AdeyipoEmma]

@Talk2MaRa @NigeriaStories May 18

[Prince_olaitan01 @AdeyipoEmma]

@NigeriaStories A lot
God am so grateful for everything you did for me this year

[Prince_olaitan01 @AdeyipoEmma]

Sterling I need my money

[Prince_olaitan01 @AdeyipoEmma]

@Elliotcute Help them and forgive them

[Prince_olaitan01 @AdeyipoEmma]

@a__vanita No be only first na almost all the bank heard network issues

[Dara💙 @daraleyee]

A pretty girl with a pretty soul and big dreams.What a combination💙😇

[Dara💙 @daraleyee]

“fixing our eyes on Jesus, the pioneer and perfecter of faith. For the joy set before him he endured the cross, scorning its shame, and sat down at the right hand of the throne of God.”
Hebrews 12:2 NIV

[Prince_olaitan01 @AdeyipoEmma]

@cenbank Pls this suffering is too much to transport is problem ,to eat is problem .we need money CBN .
Let us be spending the old Note.
This is totally unfair

[Prince_olaitan01 @AdeyipoEmma]

@Bod_backup No 2

[Sahara Reporters @SaharaReporters]

Killer-Policeman, Vandi Is A Very Nice Man, Not A Drunkard; He Must Be Under Spiritual Spell – Nigeria Police Spokesman, Adejobi Defends Officer Who Killed Lagos Pregnant Lawyer | Sahara Reporters https://t.co/Qc3GKPlYNR

[Prince_olaitan01 @AdeyipoEmma]

@GloWorld The data dey finished nowadays is really frustrating...
With 5days 3k sub don finished

[Prince_olaitan01 @AdeyipoEmma]

@chrislara_f Beautiful ❤️

[Prince_olaitan01 @AdeyipoEmma]

@BolaChase Congratulations 🎉👏

[Prince_olaitan01 @AdeyipoEmma]

@fav_energy @Smallmalik01 @ThinTallQomar @UncleMohamz @ebryhheem2nde @_ablaii Beautiful ❤️

[Prince_olaitan01 @AdeyipoEmma]

@APOSTLESULEMAN With 250k I will use it to upgrade my shop .
I sell perfume, human wings, body spare, clothes
Thank you God bless you sir